Thursday 8 December 2016

Sensex rallies over 400 points, Nifty continues upward trend

Sensex and Nifty bull run continues, supporting this are the upwards run by associated indices. All sectoral indices on Nifty were trading wherein Nifty Auto and Nifty Metal were leading the pack. In general, auto stocks were top gainers on NSE in the afternoon.

Japan's main stock benchmark rose to a new high for 2016 after continued optimism surrounding U.S. President-elect Donald Trump's economic policies helped lift Wall Street shares to a record high overnight. The Nikkei 268.78 points to 18765.47, its highest level since December 30, 2015.

Globally, eyes are on the European Central Bank, where industry hopes that the committe will extend its asset purchase program at its policy meet. Industry is expectant the ECB to continue its monthly asset purchases and hope it extended forward March 2017.

At 2:30 PM, the S&P BSE Sensex is trading at 26357 up 466 points, while NSE Nifty is trading at 8,243 up 141 points. A total of 20 stocks registered a fresh 52-week high in trade today, while 9 stocks touched a new 52-week low on the NSE.

Out of 1,883 stocks traded on the NSE, 309 declined, 1279 advanced and 295 remained unchanged.

The BSE Mid-cap Index is trading up 1.35% at 12490.89, whereas BSE Small-cap Index is trading up 1.20% at 12247.33.

Buying activity is seen in Auto, Bank, Capital Goods, Consumer Durables, Metal, FMCG, Information Technology, Healthcare while Telecom was showing slight weakness on BSE.

Tata Steel, Tata Motor DVR, Tata Motors, Bosch, Ambuja Cement, Hindalco, ITC, Adani Ports, Maruti are among the gainers, whereas Infratel, NTPC, Aurobindo Pharma, Eicher Motors are losing sheen on NSE.

The INDIA VIX is down 8.35% at 15.4375.

The Rupee is trading at its highest level since November 11, 2016 and this was the third consecutive day of rise for the domestic currency. Rupee gained over 1% in 3 sessions. Further, Rupee is trading up over 2% post touching the record low of 68.86 on November 24, 2016.

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