The Indian stock market gained for a third day with benchmarks extending their two-month high lead as some investors assessed that the impact of the demonetisation may be factored in and take positions ahead of the Union Budget early next month.
Nifty hit the new level of 8400 on Thursday even as many sectors including Auto, FMCG, Metal, Pharma and Realty are trading in red on Thursday.
At 1:25 PM, the BSE Sensex is trading higher by 120 points at 27,261, while the NIFTY 50 jumped 25 points at 8,406 mark. The Nifty50 hit 8,400 mark for the first time since Nov 11, 2016.
The BSE Mid-cap Index was up by 0.08% at 12,628, whereas BSE Small-cap Index was down by 0.01% at 12,705.
NTPC, Power Grid, Tata Power, L&T and Infosys were among the gainers, whereas Idea Cellular, Aurobindo Pharma, Coal India and Dr Reddy's were among those losing sheen on NSE.
A total of 42 stocks registered a fresh 52-week high in trade today, while eight stocks touched a new 52-week low on the NSE.
Out of 1,908 stocks traded on the NSE, 918 declined, 679 advanced and 311 remained unchanged today.
Some buying was observed in power, utilities, IT, teck, capital goods, oil & gas banking and financial services sectors, while pharma, auto, metal and FMCG stocks are showed weakness on BSE.
The INDIA VIX was down 0.43% at 14.74.
The Indian rupee opened higher by 17 paise against US Dollar at 68.15 per dollar versus 68.32 Wednesday.
The BSE IT index is trading at 10086 levels up by 132 points or 1.3% on Thursday. Infosys has contributed to almost 70% of the index gains on Thursday in the first hour of the trade. Other IT stocks like Trigyn, Cyient, Kelton Tech are all up in the range of 2% to 4.5%.
The BSE Healthcare Index is down by almost 182 points or 1.21% trading at 14940 levels. Sun Pharma and DRL have contributed to almost 55% of the index fall. Sun Pharma is down by 1.89% trading at Rs 635 per share. DRL is trading at Rs 984 down by 2% in the first half hours of the day. Other pharma stocks like Cipla, Natco Pharma, Dishman Pharma, Lyka Labs are also down by more than 2%.
After a steady rally in markets on Wednesday, even as Nifty struggles to consolidate, it has gained over 8400 levels in Thursday's trading session, and Global Offshore has caught investors’ attention by gaining more than 3.5% on an intraday basis. Mumbai based, logistics service provider,GLOBAL OFFSHORE SERVICES LIMITED stock has witnessed spurt in volumes by more than 2.26 times.
NTPC gained on bourses as it signed a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam Limited and Rajasthan Urja Vikas Nigam Limited for the takeover of Chhabra thermal power plant. The plant has two stages viz., Stage I of 4*250 MW and Stage II of 2*660 MW.
STEEL STRIPS WHEEL has bagged an order to supply wheels over a period of 3 months in the EU trailer market. Order comprises of 13” steel wheels to be supplied starting from February 2016. The stock of the company has reacted sharply to the news and is trading in green. The stock is up 2%.
TRIGYN TECHNOLOGIES has hit its upper circuit on an intraday basis. Trigyn Technologies Inc., is recently in the news as a wholly-owned subsidiary of the company has been awarded Federal GSA's IT Schedule 70 Contract.
Yen witnessed strong recovery against the greenback, as the differentials between US 10yr and Japanese bonds narrowed.
Conversely, Mexican Peso plummeted to fresh lows amid concerns of US automobile companies curtailing production capacity in Mexico.
Trump mentioned that he will be the biggest creator of jobs in American history, he also reiterated his aggressive stance on Mexico and China as far as trade is concerned. It seems the uncertainty over his policies will aggravate after he assumes power. Markets will eventually see a political impasse entailing muddled negotiations when Trump outlines his economic plans, invariably inviting opposition from stubborn US Congress. Meanwhile, World Bank stated that Donald Trump's plan to cut corporate and personal income taxes can provide a boost to the global economy, but there is a serious concern over the anti-trade sentiment. Prevalent backdrop is indisputably conducive for the yellow metal, with prices expected to extend the prevalent northward journey.
The government will issue IIP and CPI data for November and December on January 12 and WPI data on January 16.
Nifty hit the new level of 8400 on Thursday even as many sectors including Auto, FMCG, Metal, Pharma and Realty are trading in red on Thursday.
At 1:25 PM, the BSE Sensex is trading higher by 120 points at 27,261, while the NIFTY 50 jumped 25 points at 8,406 mark. The Nifty50 hit 8,400 mark for the first time since Nov 11, 2016.
The BSE Mid-cap Index was up by 0.08% at 12,628, whereas BSE Small-cap Index was down by 0.01% at 12,705.
NTPC, Power Grid, Tata Power, L&T and Infosys were among the gainers, whereas Idea Cellular, Aurobindo Pharma, Coal India and Dr Reddy's were among those losing sheen on NSE.
A total of 42 stocks registered a fresh 52-week high in trade today, while eight stocks touched a new 52-week low on the NSE.
Out of 1,908 stocks traded on the NSE, 918 declined, 679 advanced and 311 remained unchanged today.
Some buying was observed in power, utilities, IT, teck, capital goods, oil & gas banking and financial services sectors, while pharma, auto, metal and FMCG stocks are showed weakness on BSE.
The INDIA VIX was down 0.43% at 14.74.
The Indian rupee opened higher by 17 paise against US Dollar at 68.15 per dollar versus 68.32 Wednesday.
The BSE IT index is trading at 10086 levels up by 132 points or 1.3% on Thursday. Infosys has contributed to almost 70% of the index gains on Thursday in the first hour of the trade. Other IT stocks like Trigyn, Cyient, Kelton Tech are all up in the range of 2% to 4.5%.
The BSE Healthcare Index is down by almost 182 points or 1.21% trading at 14940 levels. Sun Pharma and DRL have contributed to almost 55% of the index fall. Sun Pharma is down by 1.89% trading at Rs 635 per share. DRL is trading at Rs 984 down by 2% in the first half hours of the day. Other pharma stocks like Cipla, Natco Pharma, Dishman Pharma, Lyka Labs are also down by more than 2%.
After a steady rally in markets on Wednesday, even as Nifty struggles to consolidate, it has gained over 8400 levels in Thursday's trading session, and Global Offshore has caught investors’ attention by gaining more than 3.5% on an intraday basis. Mumbai based, logistics service provider,GLOBAL OFFSHORE SERVICES LIMITED stock has witnessed spurt in volumes by more than 2.26 times.
NTPC gained on bourses as it signed a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam Limited and Rajasthan Urja Vikas Nigam Limited for the takeover of Chhabra thermal power plant. The plant has two stages viz., Stage I of 4*250 MW and Stage II of 2*660 MW.
STEEL STRIPS WHEEL has bagged an order to supply wheels over a period of 3 months in the EU trailer market. Order comprises of 13” steel wheels to be supplied starting from February 2016. The stock of the company has reacted sharply to the news and is trading in green. The stock is up 2%.
TRIGYN TECHNOLOGIES has hit its upper circuit on an intraday basis. Trigyn Technologies Inc., is recently in the news as a wholly-owned subsidiary of the company has been awarded Federal GSA's IT Schedule 70 Contract.
Nifty FMCG opened today at 21227.20 level, gaining 0.15% but then it started falling in the red zone. Currently FMCG index is trading at 21,104,90 level, down by 0.42%. Despite the FMCG index falling, following five FMCG stocks are trading in green on Thursday.
GODREJ CONSUMER PRODUCT LIMITED is trading at Rs 1585.95 per share, up by 0.70%.
TATA GLOBAL is trading at Rs 128.30 per share, up by 0.59%
.
GLAXO SMITHKLINE CONSUMER HELATHCARE LIMITED is trading at Rs 5165.00 per share, up by 0.43%.
Yen witnessed strong recovery against the greenback, as the differentials between US 10yr and Japanese bonds narrowed.
Conversely, Mexican Peso plummeted to fresh lows amid concerns of US automobile companies curtailing production capacity in Mexico.
Trump mentioned that he will be the biggest creator of jobs in American history, he also reiterated his aggressive stance on Mexico and China as far as trade is concerned. It seems the uncertainty over his policies will aggravate after he assumes power. Markets will eventually see a political impasse entailing muddled negotiations when Trump outlines his economic plans, invariably inviting opposition from stubborn US Congress. Meanwhile, World Bank stated that Donald Trump's plan to cut corporate and personal income taxes can provide a boost to the global economy, but there is a serious concern over the anti-trade sentiment. Prevalent backdrop is indisputably conducive for the yellow metal, with prices expected to extend the prevalent northward journey.
The government will issue IIP and CPI data for November and December on January 12 and WPI data on January 16.
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