Nifty settles below 8,050 mark ahead of F&O expiry

The SENSEX, NIFTY closed flat after paring all of their intraday gains in the last hour of trade dragged lower by a sell-off in oil and gas companies on Wednesday and ahead of the expiry of futures and options contracts of the December series due tomorrow. Weak global cues and a weak rupee dampened the sentiment. 

Today, the Union Cabinet approved the Ordinance on deadline to deposit old notes. The name of the Ordinance is 'The Specified Bank Notes Cessation of Liabilities Ordinance'. The Cabinet headed by PM Narendra Modi also approved an ordinance to amend the RBI Act to extinguish the liability of the government and the central bank on the demonetised high-denomination notes to prevent future litigations, as per media reports.

The BSE Sensex ended with a mere loss of three points at 26,211. The BSE Sensex opened at 26,243 touched an intra-day high of 26,415 and low of 26,192. The BSE Midcap and Smallcap closed in the range of 0.5%- 0.8%.

The NSE Nifty closed with a marginal gain of two points at 8,035. The NSE Nifty opened at 8,048 hitting a high of 8,101 and low of 8,028.

The India VIX (Volatility) index was up 3.04% at 15.54. Out of 1,396 stocks traded on the NSE, 470 declined and 857 advanced today.

Heavy selling pressure was witnessed in banking, auto, oil & gas, energy and metal stocks, while realty, FMCG, pharma, telecom and IT stocks were among the gainers.

Among the 50-stocks of Nifty, Bharti Infratel, Coal India, Idea Cellular, IndusInd Bank, Tech Mahindra and Aurobindo Pharma were among the gainers on NSE, whereas Tata Motors DVR, Yes Bank, Reliance Industries, Hero MotoCorp, Ambuja Cements and Power Grid were among the losers today.

The rupee was trading down 14 paise at 68.20 per US dollar.

On the global front, Asian markets were trading in green as many regional markets resumed trading after the long holiday weekend. While a weaker yen, higher oil prices and upbeat U.S. consumer confidence and housing data lent some support, new regulatory measures unveiled in China to bring insurers under strict supervision served to limit the potential upside to some extent. Shanghai Composite and Nikkei 225 closed lower, while Hang Seng added 1% to 21,575.

European markets were trading mostly in green after upbeat U.S. economic data reinforced investor expectations for stronger economic growth under Trump presidency. FTSE100 was trading higher by 0.32%, whereas CAC40 and DAX is in red.

On the economy front, Viral Acharya was appointed by the Government as the Deputy Governor of the Reserve Bank of India for a term of three years.

R.P.P. Infra Projects hit 20% upper circuit after the company bagged two orders from Kamarajar Port Limited and Chennai Corporation worth Rs 24.2 crore and Rs 30 crore respectively.

Sunil Hitech Engineers climbed 5% on the BSE after the company won an order worth Rs 434 crore from National Highways & Infrastructure Development Corp.

Cupid rose 5.3% after the company has informed BSE that a meeting of the Board of Directors will be held on January 5, 2017, to consider  the proposal for raising funds through issue of securities and also to increase authorised capital of the Company.

Bharat Financial Inclusion zoomed 10.5% on the BSE. Morgan Stanley has acquired 1.1% stake in the company via open market purchase on December 23. Total holding by Morgan Stanley in the company has increased to 7.86% as on December 23.

Bharti Infratel soared 2.3% to Rs 339.30 on the BSE. Goldman Sachs has reportedly upgraded the rating on Bharti Infratel to 'neutral' from 'sell' following the recent fall in the stock price, as per media reports. The stock was the top Nifty gainer today.

Dhanuka Agritech inched up 1.4% after informing BSE that a Meeting of Buyback Committee of Board of Directors of the company will be held on January 3, 2017, to approve the final terms and conditions of Buyback of equity shares of the company, subject to Shareholders’ approval.

A total of 12 stocks registered a fresh 52-week high in trades today, whereas 21 stocks touched a new 52-week low on the NSE.

Sensex, Nifty erase morning gain; Hindalco, RIL down 1%

At 2:21 PM, the S&P BSE SENSEX is trading at 26,387 up 173  points, while NSE Nifty is trading at 8,050 up 17 points. Today, the start of the penultimate session of the F&O series expiry is likely to be in green and more short covering can be seen ahead of the series expiry. 

The BSE Mid-cap Index is trading up 0.62% at 11,775, whereas BSE Small-cap Index is trading up 0.99% at 11,837.

Bharti Infratel, Idea Cellular, IndusInd Bank and Zee are among the gainers, whereas Tata Motors DVR, Tata Steel, Tata Motors and Hero MotoCorp are losing sheen on NSE.

A total of 12 stocks registered a fresh 52-week high in trade today, while 15 stocks touched a new 52-week low on the NSE.

Out of 1,889 stocks traded on the NSE, 300 declined, 1,280 advanced and 309 remained unchanged today.

Some buying is observed in industrial,pharma, financial services, oil & gas, auto, FMCG, IT and teck sectors while realty and banking are showing weakness on BSE.

The INDIA VIX is up 2.61% at 15.4775.

Mahindra & Mahindra Ltd. (M&M Ltd.), India’s leading SUV manufacturer, today announced a restructuring of its businesses under Dr. Pawan Goenka, Managing Director, M&M Ltd. The stock is trading higher by 1.3%.

Jindal Steel & Power Ltd is currently trading at Rs 68.9, up by Rs 2.45 or 3.69% from its previous closing of Rs 66.45 on the BSE. Around 11 lakh shares were traded in a single block deal.

Super Crop Safe Ltd is currently trading at Rs 112.8, up by Rs 3.85 or 3.53% from its previous closing of Rs 108.95 on the BSE after the company has received the consent and authorization of "Gujarat Pollution Control Board", valid up to March 22, 2021.

R.P.P. Infra Projects Limited has informed the Exchange that it has bagged two orders from Kamarajar Port Limited and Chennai Corporation for worth Rs 242 million and Rs 300 million respectively.

Steel Strips Wheels Ltd is currently trading at Rs 620.05, up by Rs 61.5 or 11.01% from its previous closing of Rs 558.55 on the BSE. The company experienced a spurt in volumes by more than 12.70 times.

Sunil Hitech Engineers Ltd is currently trading at Rs 12.4, up by Rs 0.59 or 5% from its previous closing of Rs 11.81 on the BSE after the company has won an order worth Rs 434 crore from National Highways & Infrastructure Development Corp.

Cadila Healthcare Limited has written to the BSE and NSE, clarifying that  Zydus Discovery DMCC, a 100% subsidiary of Cadila Healthcare Ltd has received an "Untitled Letter" and not a "Warning Letter" from the USFDA. The stock gained 2% on the BSE.

Cupid Ltd is currently trading at Rs 309, up by Rs 18.65 or 6.42% from its previous closing of Rs 290.35 on the BSE. The company has informed BSE that a meeting of the Board of Directors will be held on January 5, 2017, to consider  the proposal for raising funds through issue of securities and also to increase authorised capital of the Company.

Globus Spirits Ltd has informed the exchange that the Company has resumed its operation and commenced its commercial production of the plant which has a production capacity of 80,000 bulk litres per day on December 2, 2016. The company restarted the operations post removing all the technical bottlenecks at its unit, which is located in Vaisahli, Bihar. The stock is trading 4.4% higher.

Bharat Financial Inclusion Ltd is currently trading at Rs 556.5, up by Rs 37.55 or 7.24% from its previous closing of Rs 518.95 on the BSE. Morgan Stanley has acquired 1.1% stake in the company via open market purchase on December 23. Total holding by Morgan Stanley in the company has increased to 7.86% as on December 23.

Optiemus Infracom Limited has informed the exchanges that pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, the Company has divested its entire stake in its subsidiary company Kishore Exports India Private Limited. The stock is trading marginally higher at Rs 48.25 on the BSE.

Bharti Infratel Ltd is currently trading at Rs 342.4, up by Rs 10.75 or 3.24% from its previous closing of Rs 331.65 on the BSE. Goldman Sachs has reportedly upgraded the rating on Bharti Infratel to 'neutral' from 'sell' following the recent fall in the stock price, as per media reports. The stock was top Nifty gainer today.

Dhanuka Agritech soared 2.3% has informed BSE that a Meeting of Buyback Committee of Board of Directors of the company will be held on January 3, 2017, to approve the final terms and conditions of Buyback of equity shares of the company, subject to Shareholders’ approval.

Sensex, Nifty remain strong; Pharma, Banking stocks rally

The Indian stock markets climbed for a second day tracking a positive trade in Asian markets amid thin volumes led by automakers and information technology companies. Nifty50 hits 8,050 level.

At 12:21 PM, the S&P BSE SENSEX  is trading at 26,375 up 161  points, while NSE Nifty is trading at 8,068 up 36 points. Today, the start of the penultimate session of the F&O series expiry is likely to be in green and more short covering can be seen ahead of the series expiry. 

The BSE Mid-cap Index is trading up 1.28% at 11,853, whereas BSE Small-cap Index is trading up 1.41% at 11,886.

Bharti Infratel, Hindalco, Zee, Wipro and Bosch are among the gainers, whereas Bharti Airtel, Power Grid, Tata Motors, L&T and BPCL are losing sheen on NSE

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

Out of 1,836 stocks traded on the NSE, 410 declined, 968 advanced and 458 remained unchanged today.

Some buying is observed in industrial,pharma, financial services, oil & gas, auto, FMCG, IT and teck sectors while realty and banking are showing weakness on BSE.

The INDIA VIX is down 0.24% at 15.0450.

The Indian rupee opened at 3-week low against US Dollar. It opened lower by three paise on Wednesday at 68.10 per dollar versus previous close of 68.07/$.

Yuan remains under pressure, with PBOC setting the reference rate at 6.9495 against US dollar, when compared with 6.9462 earlier.

Gold prices moved higher, helped by dull Japanese inflation numbers and an impasse over re-capitalisation of the Italian third largest bank. In Japan, core CPI for November contracted by 0.4% on yoy basis, the ninth consecutive decline. This clearly shows that the economy is still deprived of the impetus to attain BOJ’s inflation target rate of 2%. Meanwhile, Japanese household spending during November also witnessed an annual contraction of 1.5%. In regard with the Italian banking situation, ECB stated that Italy’s Monte dei Paachi di Siena has a capital shortfall of 8.8bn euros, larger than the estimated amount of 6.5bn euros by Italian regulators.

Most Asian indices opened in the green after positive cues from US indices in low volume trade improved sentiment. Rise in oil, bond yields, US $ and equities in developed markets are the key themes to look out for in early 2017. Value buying is seen in most emerging markets with the Russian index being the clear favorite on the back of rebound in energy stocks.    

The market took off with confidence on Tuesday as if many worries had evaporated overnight. The clarification by the finance minister and hints of a lower tax regime may have propped up sentiment. Besides, the adjustments ahead of the F&O expiry were also at play.  Market-wide rollover of F&O contracts are on the higher side compared to the last three months. Meanwhile, foreign investors have taken out of India ~$10 billion in the last two months. The debate is on whether it has more to do with a higher interest rate regime in the US or lower growth expectations in India post the demonetization drive.

Expectations are running high that the election of Trump as President will boost business conditions and the job market. Japan, however, continues to struggle with core inflation falling for the ninth month in a row in November.

Sensex rallies over 150 points; Bharti Infratel up 3%

The Indian stock markets climbed for a second day tracking a positive trade in Asian markets amid thin volumes led by automakers and information technology companies. Nifty50 hits 8,050 level.

At 12:21 PM, the S&P BSE SENSEX is trading at 26,375 up 161  points, while NSE Nifty is trading at 8,068 up 36 points. Today, the start of the penultimate session of the F&O series expiry is likely to be in green and more short covering can be seen ahead of the series expiry. 

The BSE Mid-cap Index is trading up 1.28% at 11,853, whereas BSE Small-cap Index is trading up 1.41% at 11,886.

Bharti Infratel, Hindalco, Zee, Wipro and Bosch are among the gainers, whereas Bharti Airtel, Power Grid, Tata Motors, L&T and BPCL are losing sheen on NSE.

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

Out of 1,836 stocks traded on the NSE, 410 declined, 968 advanced and 458 remained unchanged today.

Some buying is observed in industrial,pharma, financial services, oil & gas, auto, FMCG, IT and teck sectors while realty and banking are showing weakness on BSE.

The INDIA VIX is down 0.24% at 15.0450.

The Indian rupee opened at 3-week low against US Dollar. It opened lower by three paise on Wednesday at 68.10 per dollar versus previous close of 68.07/$.

Yuan remains under pressure, with PBOC setting the reference rate at 6.9495 against US dollar, when compared with 6.9462 earlier.

Gold prices moved higher, helped by dull Japanese inflation numbers and an impasse over re-capitalisation of the Italian third largest bank. In Japan, core CPI for November contracted by 0.4% on yoy basis, the ninth consecutive decline. This clearly shows that the economy is still deprived of the impetus to attain BOJ’s inflation target rate of 2%. Meanwhile, Japanese household spending during November also witnessed an annual contraction of 1.5%. In regard with the Italian banking situation, ECB stated that Italy’s Monte dei Paachi di Siena has a capital shortfall of 8.8bn euros, larger than the estimated amount of 6.5bn euros by Italian regulators.

Most Asian indices opened in the green after positive cues from US indices in low volume trade improved sentiment. Rise in oil, bond yields, US $ and equities in developed markets are the key themes to look out for in early 2017. Value buying is seen in most emerging markets with the Russian index being the clear favorite on the back of rebound in energy stocks.    

The market took off with confidence on Tuesday as if many worries had evaporated overnight. The clarification by the finance minister and hints of a lower tax regime may have propped up sentiment. Besides, the adjustments ahead of the F&O expiry were also at play.  Market-wide rollover of F&O contracts are on the higher side compared to the last three months. Meanwhile, foreign investors have taken out of India ~$10 billion in the last two months. The debate is on whether it has more to do with a higher interest rate regime in the US or lower growth expectations in India post the demonetization drive.

Expectations are running high that the election of Trump as President will boost business conditions and the job market. Japan, however, continues to struggle with core inflation falling for the ninth month in a row in November.

Sensex rallies over 100 points; Nifty above 8,050 mark

The Indian stock markets climbed for a second day tracking a positive trade in Asian markets amid thin volumes led by automakers and information technology companies. Nifty50 hits 8,050 level.

At 10:01 AM, the S&P BSE SENSEX is trading at 26,280 up 67  points, while NSE Nifty is trading at 8,068 up 36 points. Today, the start of the penultimate session of the F&O series expiry is likely to be in green and more short covering can be seen ahead of the series expiry. 

The BSE Mid-cap Index is trading up 1.07% at 11,822, whereas BSE Small-cap Index is trading up 1.07% at 11,845.

Bharti Infratel, Hindalco, Zee, Wipro and Bosch are among the gainers, whereas Bharti Airtel, Power Grid, Tata Motors, L&T and BPCL are losing sheen on NSE.

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

Out of 1,836 stocks traded on the NSE, 410 declined, 968 advanced and 458 remained unchanged today.

Some buying is observed in industrial,pharma, financial services, oil & gas, auto, FMCG, IT and teck sectors while realty and banking are showing weakness on BSE.

The INDIA VIX is down 0.24% at 15.0450.

The Indian rupee opened at 3-week low against US Dollar. It opened lower by three paise on Wednesday at 68.10 per dollar versus previous close of 68.07/$.

Yuan remains under pressure, with PBOC setting the reference rate at 6.9495 against US dollar, when compared with 6.9462 earlier.

Gold prices moved higher, helped by dull Japanese inflation numbers and an impasse over re-capitalisation of the Italian third largest bank. In Japan, core CPI for November contracted by 0.4% on yoy basis, the ninth consecutive decline. This clearly shows that the economy is still deprived of the impetus to attain BOJ’s inflation target rate of 2%. Meanwhile, Japanese household spending during November also witnessed an annual contraction of 1.5%. In regard with the Italian banking situation, ECB stated that Italy’s Monte dei Paachi di Siena has a capital shortfall of 8.8bn euros, larger than the estimated amount of 6.5bn euros by Italian regulators.

Most Asian indices opened in the green after positive cues from US indices in low volume trade improved sentiment. Rise in oil, bond yields, US $ and equities in developed markets are the key themes to look out for in early 2017. Value buying is seen in most emerging markets with the Russian index being the clear favorite on the back of rebound in energy stocks.    

The market took off with confidence on Tuesday as if many worries had evaporated overnight. The clarification by the finance minister and hints of a lower tax regime may have propped up sentiment. Besides, the adjustments ahead of the F&O expiry were also at play.  Market-wide rollover of F&O contracts are on the higher side compared to the last three months. Meanwhile, foreign investors have taken out of India ~$10 billion in the last two months. The debate is on whether it has more to do with a higher interest rate regime in the US or lower growth expectations in India post the demonetization drive.

Expectations are running high that the election of Trump as President will boost business conditions and the job market. Japan, however, continues to struggle with core inflation falling for the ninth month in a row in November.