Nifty settles above 8,100; Auto, Metal, IT stocks gain

After opening with modest gains, indices remained under pressure in the first half. The key benchmark climbed on the last day of the December series as investors prepared to close out a volatile year for financial markets. However, as the day progressed, late bout of buying in the auto, metal and IT stocks lifted the benchmarks.

Short-covering on the back of futures and options (F&O) expiry and a rupee appreciation buoyed the Indian equity markets during the mid-afternoon trade session on Thursday.

Besides, budgetary expectations and value buying enhanced investors' risk-taking appetite, though negative global cues hampered the upward movement.

Sentiments got some support with report that the Cabinet Committee on Economic Affairs (CCEA) gave approval for over Rs 11,000 crore projects to improve rural road connectivity in the worst-affected left-wing extremism (LWE) districts from security angle.

The BSE Sensex ended with a gain of 155 points at 26,366. The BSE Sensex opened at 26,429 touched an intra-day high of 26,430 and low of 26,168.

The NSE Nifty closed with a gain of 69 points at 8,104. The NSE Nifty opened at 8,031 hitting a high of 8,111 and low of 8,021.

Metal, auto, realty, financial services, banking, IT and FMCG stocks led from the front. Only Pharma stocks were among the major losers.

Among the 50-stocks of Nifty, Grasim, Yes Bank, BPCL, Eicher Motors, Bosch, Tata Motors DVR, UltraTech Cements and Maruti Suzuki were among the gainers on NSE, whereas Adani Ports, Sun Pharmaceuticals, Aurobindo Pharma, Infosys, L&T, BHEL and SBI were among the losers today.

The India VIX (Volatility) index was down 1.67% at 15.2825. Out of 1,379 stocks traded on the NSE, 390 declined and 927advanced today. The BSE Midcap and Smallcap indices closed up by 1% each.

The rupee was trading up 14 paise at 68.09 per US dollar.

On the global front, Asian markets closed on a mixed trend, as the crude oil prices slipped after touching its highest level in more than a year overnight. The Nikkei 225 ended lower by 1%. Shanghai Composite ended in red and Hong Kong’s Hang Seng index index closed slightly higher.

European stocks trading in red. The FTSE 100, DAX and the CAC 40 were trading marginally down.

The Nifty IT index, which has fallen 9% so far this year, was 0.9% higher with Tech Mahindra and TCS as the top percentage gainers.

Shares of some pharmaceutical companies came under pressure after media report that the National Pharmaceutical Pricing Authority may bring rest of the 814 essential formulations under price control in the current financial year ending in March. Divis Lab fell 4.8%, whereas Glenmark, Sun Pharma and Aurobindo Pharma dropped 1% respectively.

Shares of IDBI Bank and IFCI gained on news of NSE filing papers with Sebi for its IPO. IFCI zoomed 13.4% on the BSE.

IRB Infrastructure gained 2.2% after the company has received Letter of Award from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I Project.

JMC Projects rallied 8% after company secured new orders worth over Rs 1,457 crore.

Pratibha Industries zoomed 11.5%. The company's board to meet on January 4, 2017 to approve the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.

Phoenix Mills rose 2%. The company on Wednesday said it has acquired the remaining 8.72% stake in its wholly-owned subsidiary Island Star Mall Developers Pvt Ltd (ISMDPL).

Rajesh Exports advanced 1.4% after the company has received an export order worth Rs 929 crore for designer gold and diamond studded jewellery. The order is to be executed by March, the company said.

Goa Carbon rallied 3%. The company on Wednesday informed bourses that the operations at Bilaspur Plant have commenced from December 27, 2016. 

A total of 12 stocks registered a fresh 52-week high in trades today, whereas 20 stocks touched a new 52-week low on the NSE.

Sensex, Nifty flat ahead of F&O expiry

The Indian stock markets fluctuated between marginal gains and losses on December Futures & Options expiry today.

 

At 1:05 PM, the S&P BSE Sensex is trading at 26,244 up 33 points, while NSE Nifty is trading at 8,049 up 15 points.

The BSE Mid-cap Index is trading up 0.61% at 11,906, whereas BSE Small-cap Index is trading up 0.70% at 11,906.

Bharti Infratel, Ambuja Cements, TCS, HCL Tech, ACC and Axis Bank are among the gainers, whereas Adani Ports, GAIL, IndusInd Bank, HDFC, Bharti Airtel and ITC are losing sheen on NSE.

A total of 11 stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Out of 1,890 stocks traded on the NSE, 527 declined, 1,023 advanced and 340 remained unchanged today.

Some buying is observed in IT, banking, pharma, financial services and realty sectors while FMCG, auto and media are showing weakness on NSE.

The INDIA VIX is up 0.72% at 15.6550.

IFCI Ltd is currently trading at Rs 28.15, up by Rs 3.45 or 13.97% from its previous closing of Rs 24.7 on the BSE. The rally commenced following NSE filed its draft prospectus for a Rs 10,000-crore Initial Public Offer (IPO) of equity with the Securities and Exchange Board of India (Sebi). IFCI holds around 3.05% stake in the exchange.

Reliance Industries is trading marginally higher after the company said it has successfully commissioned the first phase of its 2.2 million metric tonnes per annum (MMTPA) para-xylene (PX) plant at Gujarat's Jamnagar.

IRB Infrastructure gained 2% after the company has received Letter of Award from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I Project.

JMC Projects rallied 8% after company secured new orders worth over Rs 1,457 crore.

Pratibha Industries zoomed 11.5%. The company's board to meet on January 4, 2017 to approve the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.

Phoenix Mills advanced 2%. The company on Wednesday said it has acquired the remaining 8.72% stake in its wholly-owned subsidiary Island Star Mall Developers Pvt Ltd (ISMDPL).

Rajesh Exports jumped 2.3% after the company has received an export order worth Rs 929 crore for designer gold and diamond studded jewellery. The order is to be executed by March, the company said.

JK Tyre inched up 1.3%. The tyre manufacturer said its board has given approval to raise up to Rs 1,000 crore by issuing securities.

Cadila Healthcare slipped 2%. The company’s wholly owned subsidiary Zydus Healthcare has acquired six brands from US drug maker MSD and its subsidiaries for an undisclosed amount.

Shares of Reliance Defence and Engineering rose over 1% as Morgan Stanley Mauritius Company, on Wednesday, bought 1.67% stake in the company from Valiant Mauritius Partners, at Rs 54.15 apiece.

Shares of Prakash Constrowell were up 4.8% ahead of the company's board meeting to consider and approve further issue of capital and raising funds by suitable options. The board meeting will take place later today, the company had said in an exchange filing on Monday.

Shares of Godfrey Phillips fell 2% on profit taking after the stock rose 23% in the previous two sessions.

Goa Carbon rallied 3%. The company on Wednesday informed bourses that the operations at Bilaspur Plant have commenced from December 27, 2016. 

The Indian rupee opened flat on Thursday at 68.24 per dollar. On the global front, Yuan remains in the focus, with some sources speculating that the currency breached 7 mark in offshore markets.

Finance Minister Arun Jaitley met public sector bank heads to discuss how they are handling the demonetisation issue besides taking suggestions for the upcoming Union Budget.

Most Asian indices opened weak following overnight cues from the US where the Dow Jones fell over 100 points. Weakness in oil & fall in bond yields all saw profit booking in equities with year end blues prompting raising cash. However the silver lining was a strong rally in the Brazilian 'Bovespa' which gained due to value buying & weakness in the US$.

Sensex, Nifty to open on a negative note

Santa Claus seems to have made a late surprise visit on Tuesday but didn’t stay back for long as the market was back to its tight range on Wednesday. The December series will see its demise today as F&O expiry gets underway. Market-wide rollover of F&O contracts are higher than 3-month average and rollover of Nifty futures too has been higher this series.

The outlook is a flat to negative start. While indices may not swing much except towards the close, heightened activity would be seen in select stocks including the banking pack. Finance Minister Arun Jaitley met public sector bank heads to discuss how they are handling the demonetisation issues besides taking suggestions for the upcoming Union Budget. 

The Indian currency weakened yet again on Wednesday to end at a month’s low. US indices lost their winning ways following a fall in home re-sales which indicated that higher interest rates may take a toll on the housing market.  The NSE has filed its DRHP with Sebi for one of the biggest IPOs in recent years.

Most Asian indices opened weak following overnight cues from the US where the Dow Jones fell over 100 points. Weakness in oil & fall in bond yields all saw profit booking in equities with year end blues prompting raising cash. However the silver lining was a strong rally in the Brazilian 'Bovespa' which gained due to value buying & weakness in the US$.     

Nifty faced strong resistance around 8100 levels as derivative contract expiry due today saw intra day gains disappear. For today expect volatility to be the order with 8000-8100 being the range for the Nifty expiry of the last series of calendar 2016.Initial weakness may be bought into with stock specific action expected in the 2nd half of the day.

Among other stocks in focus:

Reliance Industries: Reliance Industries on Wednesday said it has successfully commissioned the first phase of its 2.2 million metric tonnes per annum (MMTPA) para-xylene (PX) plant at Gujarat's Jamnagar.

IRB Infrastructure: IRB Infra has informed stock exchanges that the company has received Letter of Award from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I Project.

JMC Projects: The company secured new orders worth over Rs 1,457 crore.

Pratibha Industries: The company's board to meet on January 4, 2017 to approve the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.

IDFC Bank: The private sector bank is close to merging various lending divisions with a plan to reduce headcount, as per media report.

Phoenix Mills: The company on Wednesday said it has acquired the remaining 8.72 per cent stake in its wholly-owned subsidiary Island Star Mall Developers Pvt Ltd (ISMDPL).

JK Tyre: The tyre manufacturer said its board has given approval to raise up to Rs 1,000 crore by issuing securities.

Sasken Communication: The company has proposed to buy back 29,27,879 equity shares having face value of Rs 10 each at a price of Rs 410 per share in cash for a total consideration not exceeding Rs 12004.31 lakhs.

Cadila Healthcare: The company’s wholly owned subsidiary Zydus Healthcare has acquired six brands from US drug maker MSD and its subsidiaries for an undisclosed amount.

Jet Airways: The appointment of Vikram Mehta, Rajshree Pathy and Ranjan Mathai have received the nod of the shareholders, the airline said in a regulatory filing on Wednesday.

Goa Carbon: The company on Wednesday informed bourses that the operations at Bilaspur Plant have commenced from December 27, 2016.