The benchmark equity indices closed higher as banks recovered from the previous session's losses on hopes of a pickup in credit growth following cuts in lending rates. While the indices fluctuated between gains and losses through the session, the market breadth remained firmly in favour of the buyers.
Finally, the BSE Sensex ended with a gain of 48 points at 26,643. It opened at 26,616, touched an intra-day high of 26,724 and low of 26,488.
The NSE NIFTY closed with a gain of 13 points at 8,192. It opened at 8,196, hit a intra day high of 8,219 and low of 8,149.
Sentiments got some support after Union Finance Minister Arun Jaitley expressed hope that Goods and Services Tax (GST) will be implemented in 2017 and a digitised economy will be the future of India. However, gains were limited after a government report showed that Core sector output in the month of November slowed down to 4.9% from 6.6% in October and 5.01% in September, mainly due to decline in production of crude oil and natural gas.
Meanwhile, investors keeping an eye on the GST Council meeting, to arrive at a consensus on contentious issues, including dual administrative control and inter-state supply.
On the economy front, the next Parliament session is likely to start early from January 31 so that the Budget can be presented on February 1, after a meeting of Cabinet Committee on Political Affairs (CCPA).
Asian stocks began 2017 on a mixed note after most regional markets reopened post the New Year holiday. China's Caixin Manufacturing Purchasing Managers' index (PMI) rose 51.9, compared to 50.9 in November on the back of increased demand. China's Shanghai Composite and Hong Kong's Hang Seng index also added 1% and 0.6%, respectively, while Japan was closed for an extended New Year holiday.
European stocks rose on Tuesday. The FTSE 100 and DAX have gained 0.5% each, while the CAC 40 is up 0.54%.
Some buying is observed in media, banking, metal, FMCG and financial services sectors while IT and auto stocks are showing weakness on NSE. The mid-cap and smallcap stocks representative indices on the BSE surged by 0.6% and 1% respectively.
Among the 50 stocks of the Nifty, Power Grid, Coal India, BHEL, Yes Bank, Axis Bank, Zee, Gail and ICICI Bank were among the gainers, whereas Bharti Airtel, Idea Cellular, Hero MotoCorp, Tata Motors, UltraTech Cement and Bosch were among the losers today.
The India VIX (Volatility) index was up 0.8% to 15.96. Out of 1,893 stocks traded on the NSE, 483 declined and 1,135 advanced today.
The rupee was trading down by 8 paise at 68.30 per US dollar.
Hero MotoCorp slipped 1.4% on the BSE. The company sold a record 67,62,980 units of two-wheelers in the period January-December 2016, translating into a growth of 4.3% over the previous calendar year (2015) when the company had sold 64,86,103 two-wheeler units.
Bajaj Hindusthan Sugar gained 2.2%. The company said that its board, at its meeting held January 2, considered seeking necessary approval of shareholders by way of postal ballot for sale of co-generation business comprising of power generation facility aggregating to 449 MW, in a BSE Filing.
Aban Offshore rose 4.6%. The company announced the completion of sale of 59% equity shares held by Aban Offshore in Aban Green Power and Radhapuram Wintech - subsidiaries of Aban Offshore. The company also completed the transaction for acquisition of 49% equity shares in Aban Drilling Services.
Titan Company zoomed 4.5% on the BSE. The company said that Q3 December 2016 started off on a high of the festive season and long awaited resurgence of the consumer sentiment.
Infosys fell 1% Rs 995 on the BSE. The recent correction in Infosys was led by Chief, Vishal Sikka’s first address of calendar year 2017, wherein he cued towards the difficulties the company would face in automation going forward and cautioned the employees against lacklustre attitude displayed by them. He expects employees to work beyond their scope to deliver the tasks.
A total of 32 stocks registered a fresh 52-week high in trade today, whereas seven stocks touched a new 52-week low on the NSE.
Finally, the BSE Sensex ended with a gain of 48 points at 26,643. It opened at 26,616, touched an intra-day high of 26,724 and low of 26,488.
The NSE NIFTY closed with a gain of 13 points at 8,192. It opened at 8,196, hit a intra day high of 8,219 and low of 8,149.
Sentiments got some support after Union Finance Minister Arun Jaitley expressed hope that Goods and Services Tax (GST) will be implemented in 2017 and a digitised economy will be the future of India. However, gains were limited after a government report showed that Core sector output in the month of November slowed down to 4.9% from 6.6% in October and 5.01% in September, mainly due to decline in production of crude oil and natural gas.
Meanwhile, investors keeping an eye on the GST Council meeting, to arrive at a consensus on contentious issues, including dual administrative control and inter-state supply.
On the economy front, the next Parliament session is likely to start early from January 31 so that the Budget can be presented on February 1, after a meeting of Cabinet Committee on Political Affairs (CCPA).
Asian stocks began 2017 on a mixed note after most regional markets reopened post the New Year holiday. China's Caixin Manufacturing Purchasing Managers' index (PMI) rose 51.9, compared to 50.9 in November on the back of increased demand. China's Shanghai Composite and Hong Kong's Hang Seng index also added 1% and 0.6%, respectively, while Japan was closed for an extended New Year holiday.
European stocks rose on Tuesday. The FTSE 100 and DAX have gained 0.5% each, while the CAC 40 is up 0.54%.
Some buying is observed in media, banking, metal, FMCG and financial services sectors while IT and auto stocks are showing weakness on NSE. The mid-cap and smallcap stocks representative indices on the BSE surged by 0.6% and 1% respectively.
Among the 50 stocks of the Nifty, Power Grid, Coal India, BHEL, Yes Bank, Axis Bank, Zee, Gail and ICICI Bank were among the gainers, whereas Bharti Airtel, Idea Cellular, Hero MotoCorp, Tata Motors, UltraTech Cement and Bosch were among the losers today.
The India VIX (Volatility) index was up 0.8% to 15.96. Out of 1,893 stocks traded on the NSE, 483 declined and 1,135 advanced today.
The rupee was trading down by 8 paise at 68.30 per US dollar.
Hero MotoCorp slipped 1.4% on the BSE. The company sold a record 67,62,980 units of two-wheelers in the period January-December 2016, translating into a growth of 4.3% over the previous calendar year (2015) when the company had sold 64,86,103 two-wheeler units.
Bajaj Hindusthan Sugar gained 2.2%. The company said that its board, at its meeting held January 2, considered seeking necessary approval of shareholders by way of postal ballot for sale of co-generation business comprising of power generation facility aggregating to 449 MW, in a BSE Filing.
Aban Offshore rose 4.6%. The company announced the completion of sale of 59% equity shares held by Aban Offshore in Aban Green Power and Radhapuram Wintech - subsidiaries of Aban Offshore. The company also completed the transaction for acquisition of 49% equity shares in Aban Drilling Services.
Titan Company zoomed 4.5% on the BSE. The company said that Q3 December 2016 started off on a high of the festive season and long awaited resurgence of the consumer sentiment.
Infosys fell 1% Rs 995 on the BSE. The recent correction in Infosys was led by Chief, Vishal Sikka’s first address of calendar year 2017, wherein he cued towards the difficulties the company would face in automation going forward and cautioned the employees against lacklustre attitude displayed by them. He expects employees to work beyond their scope to deliver the tasks.
A total of 32 stocks registered a fresh 52-week high in trade today, whereas seven stocks touched a new 52-week low on the NSE.
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