Nifty settles above 8000; Auto, Banking and Metal stocks shine

Indian stock market snapped a six-day losing streak and gained 1% when the day closed. Overall, it was a volatile day with both indices lacking clear direction. The only positive is that the indices closed in green.

Sentiments remained cautious over concern of India’s demonetization move estimated to pull down gross domestic product growth this financial year from last year’s 7.6%.

On the economy front, Fitch re-affirmed its "negative" outlook for India's banking sector, saying the financial standing remained "fragile" without bigger capital injections and that the government's action on banknotes could end up having a mixed impact.

Asian markets, Hong Kong’s Hang Seng was up 1.4%, while Shanghai Composite Index gained 0.66%. Japan’s Nikkei also gained 0.04%.

Both Nifty and Sensex wavered throughout the day without indicating any clarity. However, S&P BSE Sensex closed at 25,961, up 196 points, marginally missing the psychological barrier. On the other hand, NSE Nifty reclaimed its 8,002 spot, up by 73 points. The BSE Mid-cap Index closed at 11,898, gaining 1.39%, whereas BSE Small-cap Index closed on a positive note at 11,627 gaining 1.16%.

Hindalco, Bajaj Auto, Hero Motors, HDFC, HUL were among the top gainers, whereas BHEL, L&T, Gail, Dr. Reddy were the losers on Nifty 50. When the closing bell rang, sectors including Auto, Metal, Consumer Durables, Oil & Gas and Pharma were in the green, while Capital Goods, Power and Utilities sectors were in the red on BSE.

The INDIA VIX closed -3.31% at 18.4650. Out of 1,516 stocks traded on the NSE, 556 declined, 896 advanced and 64 remained unchanged today. A total of 9 stocks registered a fresh 52-week high in trade today, while 105 stocks touched a new 52-week low on the NSE.

The Rupee is trading marginally down at Rs. 68.19/$. Gold is trading at Rs 29,200 per 10 gms and silver is trading at Rs 41,024 per kg. Crude Oil is trading Rs 3345.00 per lot.

Nifty and Sensex are still volatile. The only positive is that it still in green zone. 

Domestic market pared some of early gains with the SENSEX falling below 26,000 level, while the broader NIFTY 50 also slipping below its crucial 8,000 mark.

Supported by positive global markets, the Sensex rallied over 200 points in morning trade led by gains in ICICI Bank, Infosys, Tata Motors, ONGC, and Maruti Suzuki. Nifty reclaimed its crucial level of 7,950 and was trading near its crucial resistance level of 8,000 supported by gains in realty, power, oil & gas, metal, auto, and banking stocks.

At 12:14 pm, the S&P BSE Sensex is trading at 25,801 up 35 points, while NSE Nifty is trading at 7,955 up 24 points.

Bajaj Auto, Maruti, HUL, Adani Ports and Cipla are among the top gainers, PowerGrid, NTPC, SBI and L&T are losing sheen on BSE.

Auto, Metal, Oil & Gas and Information Technology sectors are indicating buying activities, while Capital Goods, Power and Bank are showing weakness on BSE.

The BSE Mid-cap Index is trading up 0.17% at 11754, whereas BSE Small-cap Index is trading down 0.06% at 11494.

The INDIA VIX moved to green and is up 2.21% at 19.5200. Out of 1,879 stocks traded on the NSE, 743 declined, 787 advanced and 349 remained unchanged during the mid-market hours.

A total of 5 stocks registered a fresh 52-week high in trade today, while 63 stocks touched a new 52-week low on the NSE.

HINDALCO INDYUSTERIES LTD  is currently trading at Rs 163.7, up by Rs 6.3 or 4% from its previous closing of Rs 157.4 on the BSE.

Suven Life Sciences is trading in green on the BSE. The pharma company announced today that it has granted one product patent from China and one product patent from Mexico corresponding to the New Chemical Entities for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2032 and 2031 respectively.

Bliss GVS Healthcare jumped 3.4% after the company said it won a three year contract worth USD 111.40 million for provision of Medical Healthcare Services in Kenya.

Tata Communications gained 2% after the company entered into partnership with and Emirates Data Clearing House. This partnership will enable Tata Communications to provide a more robust portfolio of solutions as an integrated mobility service provider with its existing range of innovative solutions. 

ONGC advanced 0.4% to Rs 276 after international crude oil prices gained on the comments by Russian President Vladimir Putin that raised expectations that the major oil producing countries could reach a deal to limit output at a meeting next week.

Panacea Biotec  gained 1.4% after the pharma company announce receipt of Establishment Inspection Report (EIR) from the USFDA indicating the formal closure of the cGMP and Pre­ Approval Inspection conducted by USFDA, at its Oncology Parenteral and Oral Solids Dosage formulation facilities at Malpur, Baddi in Himachal Pradesh.

Asian Oilfield Services rallied 3% to Rs 74 after the company said it got order worth Rs140 crore from Oil India Ltd. 

IRB Infrastructure Developers inched up 1% to Rs 190 ahead of its September quarter earnings. 

Axis Bank slipped 1%. The bank said it proposes to raise funds by issuing unsecured redeemable non-convertible subordinated debentures (Basel- III compliant Tier II debentures) (Series - 25) of the face value of Rs 10 lakh each for cash at par aggregating to Rs 1,800 crore. 

L&T dropped 2%. The company will announce its Q2 numbers today. The construction arm of L&T has won orders worth Rs 1,926 crore across its various business segments.

Sobha fell 3.2% to Rs 230. Sobha posted its consolidated net profit at Rs 38 crore for the September quarter of the current fiscal. Its net profit had stood at Rs 39 crore in the same period of last financial year.

Arvind slipped 1%. Textiles and branded apparel major Arvind Ltd has raised Rs 740 crore by diluting stake in subsidiary Arvind Fashions Ltd. The company has completed the transaction and raised the amount from Multiples, a private equity firm.

Dhampure Speciality Sugars dipped 2%. The company reported a net profit of Rs 12 lakh against net profit of Rs 10 lakh in the corresponding quarter last year.

Reliance Infrastructure tanked 2.7%. RInfra has won an EPC order for Rs 36.75 bn from NLC India Limited for setting up two lignite based CFBC thermal power projects with a capacity of 250MW each.

Allcargo Logistics is trading in red on the BSE. The company will announce its Q2 numbers today. 

The Indian rupee opened marginally higher by three paise at 68.13/$ against the previous close of 68.16/$.

Asian markets excluding Japan all traded in the green as an earthquake in Japan & threats of a Tsunami break out kept the Japanese index flat to marginally negative. This after oil hit a new 4 week high along with the Dow Jones, Nasdaq & the S&P index rising in tandem. The risk on trade is back in action as globally bullishness resurfaces with Japan & the US indices in new bull markets.

Sensex up 100 poInts, Nifty hovers around 7,950 mark

At 9:41 AM, after crossing the psychological 26,000 market, the S&P BSE Sensex is trading at 25,924 up 160 points, while NSE Nifty is trading at 8,007.10 up 78 points. 

Out of 1,854 stocks traded on the NSE, 307 declined, 1152 advanced and 395 remained unchanged in the opening hour.

The BSE Mid-cap Index is trading up 1.13% at 11867, whereas BSE Small-cap Index is trading up 1.22% at 11633.

Hindalco, Tata Motors, Maruti, Adani Ports, and Bank of Baroda are among the gainers, whereas NTPC, Bharti Airtel, Bosch, Dr Reddy and Sun Pharma are losing sheen on Nifty 50.

Some buying activity is seen in Auto, Metal, Bank, Consumer Durables and Information Technology sectors, while Telecom, Power and Realty showing weakness on BSE.

The INDIA VIX is down 1.80% at 18.7525.

A total of 4 stocks registered a fresh 52-week high in trade today, while 23 stocks touched a new 52-week low on the NSE.

The Indian rupee opened marginally higher by three paise at 68.13/$ against the previous close of 68.16/$.

Asian markets excluding Japan all traded in the green as an earthquake in Japan & threats of a Tsunami break out kept the Japanese index flat to marginally negative. This after oil hit a new 4 week high along with the Dow Jones, Nasdaq & the S&P index rising in tandem. The risk on trade is back in action as globally bullishness resurfaces with Japan & the US indices in new bull markets.