Friday, 13 January 2017

Nifty trades below 8,400 mark

The domestic markets were trading down, led by losses in shares of IT firms, while pharmaceutical companies' stocks rebounded.

At 1:34 PM, the BSE Sensex is trading lower by 22 points at 27,225, while the NIFTY 50 slipped by15 points at 8,392 mark.

The BSE Mid-cap Index was down by 0.15% at 12,623, whereas BSE Small-cap Index was up by 0.01% at 12,687.

Axis Bank, GAIL, HDFC, Aurobindo Pharma and Sun Pharma were among the gainers, whereas TCS, Infosys, Hindalco, Idea Cellular and Infratel were among those losing sheen on NSE.

A total of 36 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.

Out of 1,908 stocks traded on the NSE, 859 declined,698 advanced and 351 remained unchanged today.

Some buying was observed in pharma, FMCG, banking and financial services sectors, while IT, realty, auto, metal and media stocks are showed weakness on NSE.

The INDIA VIX was down 1.5% at 14.39. On the sectoral front, Pharma stocks rebounded after declining on Thursday,  post US president-elect Donald Trump's plans to make companies bid forgovernment projects. Lupin, Sun Pharmaceuticals Industries, and Aurobindo Pharma rose 1-2%. The Nifty Pharma index was up 0.4% at 10,445 points.

IT has tumbled badly, dragged down by TCS and Infosys plunging 3.3% and 2.1% respectively, post results' announcement. Auto follows with 0.9% downside, dragged down by the falling Tyre stocks.

On the other hand, the Financial Services sector remains up with 0.6% gains driven by Axis Bank and HDFC. Apart from Axis Bank and HDFC, GAIL and Auro Pharma are the top gainers; while TCS, Infosys, Hindalco and Tata Motors are the top losers for the Nifty.

SpiceJet hit their highest level in a month after company said  its purchase of 205 planes from Boeing Co will not add to their debt. The airliner's stock was up 3%.

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