Nifty closes above 8400: Power Grid, NTPC and Infosys lead

It was a third consecutive upbeat day for the Indian markets. After heightened volatility, Nifty closed moderately higher at crucial 8407.

Nifty reclaimed 8400 mark after it tumbled twice from above level during intraday trade.

On the contrary, Sensex surged in the first half of the session and then witnessed range bound volatility ranging 27260-27220 to finally close at 27248.

Broader markets remained under performers throughout the day where midcap closed 0.2% higher while smallcap retreated to close lower by 0.2%.

Market bias remained negative with 1172 advances and 1549 declines.

On the sector specific front, IT surged the most with 1.8% gains, driven by heavy weight Infosys gaining 3%.

On the contrary, the FMCG sector plunged 0.9% where the giants HUL, ITC, UBL and Tata Global posted 1% losses each.

Pharma too closed 0.5% down but recovered in the afternoon session from day’s low. Power stocks were charged wherein NTPC, Power Grid remained the top Nifty gainers while Telecom major Idea and Pharma major Lupin were the top losers for the Nifty.

Going forward, we hold 8460 followed by 8511 as the next major resistance while 8390-8380 followed by 8300 as the major support for Nifty. We keenly await Infosys' results in tomorrow’s session.

INFOSYS : The stock was the biggest contributor to the index gains throughout the day holding the markets steady. The stock closed up by more than 3%.

L&T : One of the top contributors to the index gains, L&T remained in green throughout the session in line with the Capital Goods Index.

NHPC :The power stock was buzzing on bourses as the company declared a dividend of Rs 1.70 per share.

COAL INDIA : The stock underperformed markets despite the reports that it might increase the thermal coal pricing.

POWER GRID : The stock was one of the top gainers in the index reaching new highs in today’s trade, rising than 4%.

Stock View:
Infosys Ltd is currently trading at Rs 1000.05, up by Rs 31.05 or 3.2% from its previous closing of Rs 969 on the BSE.

The scrip opened at Rs 972.25 and has touched a high and low of Rs 1004.4 and Rs 972.25 respectively. So far 6184488(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 222573.94 crore.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 1278 on 03-Jun-2016 and a 52 week low of Rs 900.3 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 1009 and Rs 964 respectively.

The promoters holding in the company stood at 12.75 % while Institutions and Non-Institutions held 57.57 % and 29.19 % respectively.

The stock is currently trading above its 200 DMA.

Sensex, Nifty edge higher; Idea tanks 3.5%

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.

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%

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MARICO is trading at Rs 261.10 per share, up by 0.04%.

GLAXO SMITHKLINE CONSUMER HELATHCARE LIMITED is trading at Rs 5165.00 per share, up by 0.43%.

UNITED SPRITIES LIMITED is trading at Rs 1926.00 per share, up by 0.42%.

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 reclaims 8,400 mark; Pharma, Metal stocks drag

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.

At 10:18 AM, the BSE Sensex is trading higher by 72 points at 27,213, while the NIFTY50 jumped 18 points at 8,399 mark. The Nifty50 hit 8,400 mark for the first time since Nov 11, 2016.

The BSE Mid-cap Index was down by 0.22% at 12,510, whereas BSE Small-cap Index was down by 0.16% at 12,686.

Infosys, Infratel, Adani Ports, ONGC and UltraTech Cements were among the gainers, whereas Aurobindo Pharma, Sun Pharmaceuticals, Dr Reddy's and Lupin were among those losing sheen on NSE.

A total of 26 stocks registered a fresh 52-week high in trade today, while five stocks touched a new 52-week low on the NSE.

Out of 1,901 stocks traded on the NSE, 926 declined, 579 advanced and 396 remained unchanged today.

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

The INDIA VIX was down 1% at 14.69.

The Indian rupee opened higher by 17 paise against US Dollar at 68.15 per dollar versus 68.32 Wednesday.

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.

Sun Pharma and DRL constitute to 55% of BSE healthcare fall

Even as Nifty hits crucial 8400 levels on Thursday in the first half hour of the session, the pharma stocks reel in red owing to the President-elect Donald Trump comments and the rhetoric of the pharma companies beefing up more profits than required for the benefit of the poor.
 
The major pharma companies in India that have exposure to US markets are reeling under pressure with companies like Sun Pharma and Dr Reddy laboratories (DRL) contributing most to the BSE healthcare downfall.
 
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%.

Sensex, Nifty open in green on positive clues from global markets

At 9:15 AM, the BSE Sensex opened higher by 60 points at 27,201, while the Nifty50 opened higher by mere 10 points at 8,390 mark.

The Indian rupee opened higher by 17 paise against US Dollar at 68.15 per dollar versus 68.32 Wednesday.

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.

Asian stock markets were mixed today, as US President-elect Donald Trump, at his first press conference after the elections, gave scant details on his likely policies.

Asian healthcare stocks fell in-line with losses in shares of drug-makers in the US, as Trump said pharmaceutical companies were "getting away with murder" by charging high prices.

Trump addressed issues from Russian hacking allegations to prices of drugs, there was a dearth of details on the timing and scope of policies from infrastructural spending to international trade pacts.
  
The strength in the yen against the dollar weighed on shares of major exporters in Japan, bringing the Nikkei 225 index down by nearly 1%.
  
Meanwhile, oil producing companies rose tracking gains in prices of crude oil as the dollar weakened, and on reports Saudi Arabia cut supply to Asia.
  
Meanwhile, Shanghai Composite is trading in green, South Korea’s Kospi index ​is ​at 2,078 points (up 0.16%) and Indonesia’s Jakarta Composite ​is ​at 5,316 points up (0.28%).

Taiwan’s Taiex at 9,416.47 points (up 0.75%), Singapore’s Straits Times at 3,010 points (up 0.31%), Hong Kong’s Hang Seng at 22,917.02 points (down 0.08%) and Singapore Nifty at 8,421 points (up 0.29%).

Wall Street ended higher after a volatile day on Wednesday led by gains in oil producing companies, as prices of crude oil surged on the back of a weak dollar and reports that Saudi Arabia cut some supply to Asia.

The Nasdaq composite fell after Trump made his remarks, as the iShares Nasdaq Biotechnology ETF (IBB) fell 3%. The tech-heavy index, however, ended the session 0.2% higher at a record closing level. The S&P 500 advanced 0.3%, shrugging off a 1% decline in health care.

Energy stocks led the way in the S&P, rising 1.2%. Nasdaq Composite index settled 0.21% up at 5,563.65. Dow Jones Industrial Average index closed 0.50% up at 19954.28.

European stocks closed higher on Wednesday as investors digested comments from Trump's first press conference.