Nifty holds 8,150 mark

The Indian stock markets opened on a subdued note on the first trading day of 2017, with profit-booking after recent gains. The stock markets displayed subdued investor sentiment owing to profit booking and rupee depreciation.

The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, fell to 49.6 in December from November's 52.3. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

Realty companies were in demand after Prime Minister Narendra Modi on December 31 announced that loans of up to Rs 9 lakh taken in the new year under the new scheme of Pradhan Mantri Awas Yojana will receive interest subvention of 4 per cent and loan of up to Rs 12 lakh will get a 3 per cent interest waiver.

Selling pressure was witnessed in banking, financial services, FMCG and IT stocks, while realty, auto, metal, media and pharma were among the gainers.

Among the 50-stocks of NIFTY, Ambuja Cement, UltraTech Cement, Tata Steel, M&M, Eicher Motors, Tata Motors DVR, Tata Motors, Hindalco and Maruti Suzuki were among the gainers on NSE, whereas HDFC, Bank of Baroda, SBI, IndusInd Bank, ICICI Bank and Bajaj Auto were among the losers today.

Finally, the BSE Sensex ended with a loss of 31 points at 26,595. The BSE Sensex opened at 26,711 touched an intra-day high of 26,721 and low of 26,447.

The NSE Nifty closed with a loss of a mere six points at 8,180. The NSE Nifty opened at 8,210 hitting a high of 8,212 and low of 8,134.

The India VIX (Volatility) index was up 2.36% at 15.83. Out of 1,903 stocks traded on the NSE, 417 declined and 1,194 advanced today.

The rupee was trading down 16 paise at 68.07 per US dollar.

On the global front, Asian markets closed flat. Japan’s Nikkei closed in red. Hong Kong’s Hang Seng  and China’s Shanghai Composite ended higher.

After a weak start, European indices rebounded and Germany's DAX index touched its highest level since August 2015. Trading volumes, though, were low as markets in the UK and several other countries were closed for New Year holidays. France's CAC-40 touched a 52-week high of 4879.24 points.

Bajaj Auto Ltd fell 1.4% to Rs 2,597 after the company reported a 22% decline in its December monthly sales to 2.25 lakh units from 2.89 lakh units last year same month.

Transformers and Rectifiers India jumped 5.3% to Rs 356 after the company said it got orders worth Rs 92 crore from Gujarat Energy Transmission Corporation.

Bombay Dyeing rose 3% to Rs 49 after the company said it has inked an agreement for sale of land, building and some machinery of Ranjangaon unit at an aggregate value of Rs 174.45 crore.

A total of 19 stocks registered a fresh 52-week high in trade today, whereas 16 stocks touched a new 52-week low on the NSE.

Sensex, Nifty volatile; Eicher Motors, Tata Steel up

The Indian stock markets open on a positive note but later pared gains to turn red on Monday. The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, fell to 49.6 in December from November's 52.3. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

At 1:55 PM, the S&P BSE Sensex is trading at 26,609 down 17 points, while NSE NIFTY is trading at 8,180 down mere down five points.

The BSE Mid-cap Index is trading up 0.53% at 12,095, whereas BSE Small-cap Index is trading up 0.96% at 12,161.

Eicher Motors, UltraTech Cement, Ambuja Cements, ACC and BHEL are among the gainers, whereas HDFC, SBI, Bajaj Auto, Bank of Baroda, ICICI Bank are losing sheen on NSE.

A total of 15 stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Out of 1,901 stocks traded on the NSE, 555 declined, 955 advanced and 391 remained unchanged today.

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

The INDIA VIX is up 3.89% at 16.0675.

Nifty trades below 8,150 mark

he Indian stock markets open on a positive note but later pared gains to turn red on Monday. The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, fell to 49.6 in December from November's 52.3. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

At 10:49 AM, the S&P BSE Sensex is trading at 26,458 down 168 points, while NSE NIFTY is trading at 8,147 down 38 points.

The BSE Mid-cap Index is trading up 0.06% at 12,038, whereas BSE Small-cap Index is trading up 0.52% at 12,109.

Eicher Motors, UltraTech Cement, Ambuja Cements, ACC and BHEL are among the gainers, whereas HDFC, SBI, Bajaj Auto, Bank of Baroda, ICICI Bank are losing sheen on NSE.

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

Out of 1,901 stocks traded on the NSE, 555 declined, 955 advanced and 391 remained unchanged today.

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

The INDIA VIX is up 4.63% at 16.1825.

Realty stocks rallied after Prime Minister Narendra Modi announced sops for low-cost housing on New Year’s eve. The BSE Realty index gained as much as 2.68 percent while stocks like Unitech (up 5.5%), HDIL (up 3.8%), and DLF (up 3.5%) led the gains.

Asian indices opened in the green with most markets still in holiday mode. The retracement of the US$ saw currency gains for most countries which prompted buying in equities. Financials, materials & infra stocks gained with gold & oil prices seeing profit booking

After a year of negligible gains for the Indian equity market, 2017 starts on hopes that this year will be better in many aspects. During the year, the Nifty hit a low of 6826 in Feb 2016 then surged to 8969 in September 2016. Then came a plethora of concerns which reduced the risk appetite for emerging markets. Trump's US presidential victory, strengthening of US Dollar and the demonetization drive dominated the headlines towards the end of the year.

The much-awaited New Year's address by Prime Minister Narendra Modi saw a slew of initiatives being announced which focused on the rural segment, small businesses, women and the banking sector.

The PM highlighted a stark reality that a mere 24 lakh Indians had declared that they had an annual income of above Rs 10 lakhs.
Bank stocks will be in focus after leading lenders announced a cut in loan rates. Profit booking is expected at higher levels later in the day unless global markets keep the momentum going.

The Indian economy remains one of the fastest growing economies as it grew 7.2% in the first half of the current fiscal.