The Indian stock market ended with smart gains on Friday as investors sentiments were buoyed by rupee appreciation. U.S. dollar weakened, while crude oil prices rebounded in Asian trade.
The buying was so fierce that not a single sectoral index on the NSE ended with losses; FMCG, realty, pharma, IT, banking, media, financial services and auto stocks ended among the top gainers. Even the mid-cap and the small-cap stocks participated in today’s rally.
The BSE Sensex ended with a gain of 260 points at 26,626. The benchmark indices opened at 26,442 touched an intra-day high of 26,678 and low of 26,407.
The NSE Nifty closed 82 points higher at 8,186 points. It opened at 8,120 points, hitting a high of 8,197 and low of 8,115.
Sentiment was optimistic after Finance Minister Arun Jaitley said that the effect of note ban is evidently visible with the country’s tax collection figures revealing double-digit growth. Jaitley highlighted that till November 30, there has been a 26.2% rise in central indirect tax collection and till December 19, direct tax collection has risen by 14.4%. Besides, appreciation in Indian rupee against the dollar has also supported the sentiment.
The Nifty Pharma index declined over 14% in 2016 as several companies failed to meet the US Food and Drug Administration's quality standards. The index had gained 34% in the last three years, while over the last five years, it had surged 125%.
Of the five pharmaceutical stocks that are both on the Nifty 50 and Nifty Pharma, the shares of Aurobindo Pharma and Sun Pharmaceutical Industries declined 24% each in 2016. While shares of Lupin declined 19%, those of Cipla fell 12% and Dr. Reddy's Laboratories fell nearly 2% in 2016.
The Nifty PSU Bank index closed higher by 1.14% despite the Reserve Bank of India’s warning that the bad loans of state run banks may surge up to 10.1% by March 2018. The Nifty PSU Bank index is trading up 1.2% at 2,984. The Nifty PSU Bank index opened at 2,951 and hit a high of 3,002 and a low of 2,946.
Among the 50-stocks of Nifty, Aurobindo Pharma, Bosch, GAIL, Sun Pharma, ITC, Power Grid and Grasim gained on NSE, whereas BPCL, Bajaj Auto, ONGC, Tata Steel, Dr. Reddy's, Tata Motors and HDFC Bank closed with losses.
The India VIX (Volatility) index was up 1.19% at 15.46. The BSE Midcap and Smallcap indices gained over 1% each. Out of 1,539 stocks traded on the NSE, 414 declined and 941 advanced today.
The rupee was trading up19 paise at 67.90 per US dollar.
On the global front, Asian markets closed mostly in green on Friday, the last trading day of 2016, despite the modest losses posted overnight on Wall Street. The Shanghai Composite index was up 0.24% and Hong Kong’s Hang Seng index closed higher by 1%. Nikkei 225 ended lower.
In Europe, the FTSE 100 is trading in red. CAC 40 and DAX are trading down by 0.2% each.
Aurobindo Pharma zoomed 3.2% after the company received US Food and Drug Administration's (USFDA) approval for two of its generic drugs, following which the company stocks gained positive traction.
Engineers India fell 9.8% on the BSE after the stock turned ex bonus. The company announced that the shareholders of the company will get one free share for one held.
L&T Finance Holdings rallied 3% on the BSE after Harsh Mariwala bought 46,000 shares in the company.
Havells India gained 4.5% to Rs 339.25 on the BSE. Around 2.2 million shares of the company changed hands in a single block deal.
Sugar stocks gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10%.
Jagran Prakashan rallied 3.4% to Rs 179.85 after the company said the meeting of the board of directors is scheduled to be held on Jan 5, 2017 to consider the proposal for buyback of shares.
RS Software climbed 2%. RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.
GE Power India soared 5.3% after the company announced that it has received contracts worth $40 million by Bharat Heavy Electricals to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III. Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the goverment.
Golden Tobacco closed on a flat note. Golden Tobacco Ltd said that it has received notice from a consortium of banks led by Canara Bank for one of its properties situated at Guntur.
IFCI slipped 3%. Term lender IFCI on Thursday said it has proposed to sell around 0.8% stake in National Stock Exchange (NSE).
A total of 12 stocks registered a fresh 52-week high in trade today, whereas 13 stocks touched a new 52-week low on the NSE.
The buying was so fierce that not a single sectoral index on the NSE ended with losses; FMCG, realty, pharma, IT, banking, media, financial services and auto stocks ended among the top gainers. Even the mid-cap and the small-cap stocks participated in today’s rally.
The BSE Sensex ended with a gain of 260 points at 26,626. The benchmark indices opened at 26,442 touched an intra-day high of 26,678 and low of 26,407.
The NSE Nifty closed 82 points higher at 8,186 points. It opened at 8,120 points, hitting a high of 8,197 and low of 8,115.
Sentiment was optimistic after Finance Minister Arun Jaitley said that the effect of note ban is evidently visible with the country’s tax collection figures revealing double-digit growth. Jaitley highlighted that till November 30, there has been a 26.2% rise in central indirect tax collection and till December 19, direct tax collection has risen by 14.4%. Besides, appreciation in Indian rupee against the dollar has also supported the sentiment.
The Nifty Pharma index declined over 14% in 2016 as several companies failed to meet the US Food and Drug Administration's quality standards. The index had gained 34% in the last three years, while over the last five years, it had surged 125%.
Of the five pharmaceutical stocks that are both on the Nifty 50 and Nifty Pharma, the shares of Aurobindo Pharma and Sun Pharmaceutical Industries declined 24% each in 2016. While shares of Lupin declined 19%, those of Cipla fell 12% and Dr. Reddy's Laboratories fell nearly 2% in 2016.
The Nifty PSU Bank index closed higher by 1.14% despite the Reserve Bank of India’s warning that the bad loans of state run banks may surge up to 10.1% by March 2018. The Nifty PSU Bank index is trading up 1.2% at 2,984. The Nifty PSU Bank index opened at 2,951 and hit a high of 3,002 and a low of 2,946.
Among the 50-stocks of Nifty, Aurobindo Pharma, Bosch, GAIL, Sun Pharma, ITC, Power Grid and Grasim gained on NSE, whereas BPCL, Bajaj Auto, ONGC, Tata Steel, Dr. Reddy's, Tata Motors and HDFC Bank closed with losses.
The India VIX (Volatility) index was up 1.19% at 15.46. The BSE Midcap and Smallcap indices gained over 1% each. Out of 1,539 stocks traded on the NSE, 414 declined and 941 advanced today.
The rupee was trading up19 paise at 67.90 per US dollar.
On the global front, Asian markets closed mostly in green on Friday, the last trading day of 2016, despite the modest losses posted overnight on Wall Street. The Shanghai Composite index was up 0.24% and Hong Kong’s Hang Seng index closed higher by 1%. Nikkei 225 ended lower.
In Europe, the FTSE 100 is trading in red. CAC 40 and DAX are trading down by 0.2% each.
Aurobindo Pharma zoomed 3.2% after the company received US Food and Drug Administration's (USFDA) approval for two of its generic drugs, following which the company stocks gained positive traction.
Engineers India fell 9.8% on the BSE after the stock turned ex bonus. The company announced that the shareholders of the company will get one free share for one held.
L&T Finance Holdings rallied 3% on the BSE after Harsh Mariwala bought 46,000 shares in the company.
Havells India gained 4.5% to Rs 339.25 on the BSE. Around 2.2 million shares of the company changed hands in a single block deal.
Sugar stocks gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10%.
Jagran Prakashan rallied 3.4% to Rs 179.85 after the company said the meeting of the board of directors is scheduled to be held on Jan 5, 2017 to consider the proposal for buyback of shares.
RS Software climbed 2%. RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.
GE Power India soared 5.3% after the company announced that it has received contracts worth $40 million by Bharat Heavy Electricals to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III. Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the goverment.
Golden Tobacco closed on a flat note. Golden Tobacco Ltd said that it has received notice from a consortium of banks led by Canara Bank for one of its properties situated at Guntur.
IFCI slipped 3%. Term lender IFCI on Thursday said it has proposed to sell around 0.8% stake in National Stock Exchange (NSE).
A total of 12 stocks registered a fresh 52-week high in trade today, whereas 13 stocks touched a new 52-week low on the NSE.
