Sensex, Nifty end in red; Axis Bank up 4%

Closing Bell:

 

The Indian stock markets closed little changed but gained for the third straight week led by a rally in bank stocks. The Sensex ended the little changed at 27,238 but advanced 1.9% for the week, While Nifty climb nearly 1.9% for the week, the 50-share index failed to hold on to the 8,450-mark.

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

At 3:08 PM, the BSE Sensex is trading higher by six points at 27,254, while the Nifty50 slipped by mere one points at 8,406 mark.

The BSE Mid-cap Index was up by 0.11% at 12,656, whereas BSE Small-cap Index was up by 0.08% at 12,696.

Axis Bank, HDFC, Aurobindo Pharma, GAIL 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%.

While shares of Infosys wiped the gains due to mixed Oct-Dec earnings, those of TCS were down 2% as changes at the top management and headwinds for the sector led to concern about growth.

GAIL is up by more than 2.15 % along with ONGC which is up by 2.01%. Reliance Industries is up by 0.82% trading at Rs 1092 per share. The other stock that is supporting the market in the first hour is HDFC, Coal India and Axis Bank.
 
Electrosteel Castings is having a good day on the Street. The stock of the company has opened in green; and as at 10.35 am is trading with gains of 5%. It has witnessed a spurt in volumes by more than 1.83 times.
 
The stock has witnessed a significant movement as the Government of India has granted a mining lease of 192.5 hectare in Jharkhand.
 
In the last one year, the stock has given a return of 14.93%. Currently, it is trading with a P/E of 11.64. On an annualised basis, in the last three years the stock has given a return of 20.21%.

Bank Nifty had closed on a positive note for the last seven consecutive trading sessions. In Friday’s session, Bank Nifty opened at 18949.70, up by 75.75 points or 0.4%. The index is currently trading in red at 18813.40, down by 60.55 points or 0.32%.
 
These 2 stocks have somehow bucked the trend and are trading in the green.

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%.

Sensex, Nifty trade flat; Pharma, FMCG stocks gain

Share indices were sharply off the highs touched at open due to a fall in information technology giants Tata Consultancy Services and Infosys. Markets may take a breather after consolidating gains in the past three sessions taking cues from global markets which are trading in red with Asian markets trading mixed.

At 12:01 PM, the BSE Sensex is trading lower by 9 points at 27,238, while the NIFTY 50 slipped by mere five points at 8,402 mark.

The BSE Mid-cap Index was up by 0.06% at 12,650, whereas BSE Small-cap Index was up by 0.06% at 12,694.

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

A total of 31 stocks registered a fresh 52-week high in trade today, while five stocks touched a new 52-week low on the NSE.

Out of 1,908 stocks traded on the NSE, 807 declined, 737 advanced and 364 remained unchanged today.

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

The INDIA VIX was down 1.7% at 14.36.

While shares of Infosys wiped the gains due to mixed Oct-Dec earnings, those of TCS were down 2% as changes at the top management and headwinds for the sector led to concern about growth.

GAIL is up by more than 2.15 % along with ONGC which is up by 2.01%. Reliance Industries is up by 0.82% trading at Rs 1092 per share. The other stock that is supporting the market in the first hour is HDFC, Coal India and Axis Bank.
 
Electrosteel Castings is having a good day on the Street. The stock of the company has opened in green; and as at 10.35 am is trading with gains of 5%. It has witnessed a spurt in volumes by more than 1.83 times.
 
The stock has witnessed a significant movement as the Government of India has granted a mining lease of 192.5 hectare in Jharkhand.
 
In the last one year, the stock has given a return of 14.93%. Currently, it is trading with a P/E of 11.64. On an annualised basis, in the last three years the stock has given a return of 20.21%.

Bank Nifty had closed on a positive note for the last seven consecutive trading sessions. In Friday’s session, Bank Nifty opened at 18949.70, up by 75.75 points or 0.4%. The index is currently trading in red at 18813.40, down by 60.55 points or 0.32%.
 
These 2 stocks have somehow bucked the trend and are trading in the green.

 AXIS BANK is trading at Rs 459.25 per share, up by Rs 4.05 per share or 0.89%. The stock opened today at Rs 457 per share and touched a high of 461.90, gaining Rs 6.70 per share or 1.47%. The stock has seen an addition of 1027 contracts or 2.94% to its Open Interest.

 KOTAK MAHINDRA BANK LIMITED is trading at Rs 732.80 per share, up by Rs 4.85 per share or 0.67%. The stock opened today at Rs 731.50 per share and touched a high of Rs 735.60 per share, gaining Rs 7.65 per share or 1.05%. The stock has seen an addition of 44 contracts or 0.29% to its Open Interest.

Short built up is being seen in the top two IT companies of India.
 
INFOSYS has seen an addition of 8813 contracts or 15.01% in its Open Interest. The stock is trading at Rs 992 per share, down by Rs 8.05 per share or 0.80%.
 
TCS has seen an addition of 5101 contracts or 14.37% in its Open Interest. The stock is trading at Rs 2289.15 per share, down by Rs 55.20 per share or 2.35%.
 
Q3 FY17 results of Infosys have been announced in Friday’s session. The company has lowered the upper limit of its revenue guidance to 8.8 per cent in constant currency (CC) terms from 9% earlier. The IT firm has given a CC revenue guidance of 8.4-8.8% against 8-9% earlier. In dollar terms, the company has given guidance for 7.2-7.6% revenue growth for the ongoing financial year.
 
Q3 FY17 results of TCS have beaten the expectations. The company’s bottom-line revenue has increased by 2.9% to Rs 6778 cr.
 
The increase of OI in both the stocks, and decrease in its price shows the signs of Short built up position in both the stocks.

The rupee opened weakened 11 paise to 68.19 against the U.S. dollar in early trade on fresh demand for the American currency from banks and importers despite positive macro economic data.

On the macro front, Consumer price inflation (CPI) in December fell further to 3.4% with food inflation hitting a two-year low. Thanks to a lower base, the index of industrial production (IIP) grew by 5.7% yoy in November.

Gold briefly surpassed US$1,200/oz mark, with values eventually retreating from the seven week high on account of profit taking. The short term trajectory for the yellow metal hinges on the policy developments from Trump regime. Clarity of fiscal policy, including government spending and corporate tax cuts can translate into bullish dollar and effectively deemed negative for gold. Conversely, protectionist measures from Trump can pose a threat to global trade and US economy, which will logically prove supportive for gold.

Meanwhile, Fitch reported that Trump's plans to slash taxes can threaten US triple-A credit rating over the medium term. The country has a very high level of government debt and proposed tax cuts by US$6.2 trillion over the next 10 years can pile up debt load by more 33%.

Oil futures scaled higher, underpinned by comments from Saudi Arabia Energy minister that OPEC would accelerate the rebalancing of the market and prices will be receptive to the same later this year.

Nifty slips below 8,400 mark

The Indian stock markets climbed for a fourth straight session on Friday.

At 9:58 AM, the BSE Sensex is trading lower by 18 points at 27,229, while the Nifty50 slipped by 14 points at 8,393 mark.

The BSE Mid-cap Index was down by 0.32% at 12,602, whereas BSE Small-cap Index was down by 0.30% at 12,648.

ONGC, GAIL, Coal India and HDFC were among the gainers, whereas TCS, Hindalco, Idea, Zee and Bosch were among those losing sheen on NSE.

A total of 24 stocks registered a fresh 52-week high in trade today, while two stocks touched a new 52-week low on the NSE.

Out of 1,892 stocks traded on the NSE, 802 declined, 665 advanced and 425 remained unchanged today.

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

The INDIA VIX was down 0.37% at 14.56

The rupee opened weakened 11 paise to 68.19 against the U.S. dollar in early trade on fresh demand for the American currency from banks and importers despite positive macro economic data.

On the macro front, Consumer price inflation (CPI) in December fell further to 3.4% with food inflation hitting a two-year low. Thanks to a lower base, the index of industrial production (IIP) grew by 5.7% yoy in November.

Gold briefly surpassed US$1,200/oz mark, with values eventually retreating from the seven week high on account of profit taking. The short term trajectory for the yellow metal hinges on the policy developments from Trump regime. Clarity of fiscal policy, including government spending and corporate tax cuts can translate into bullish dollar and effectively deemed negative for gold. Conversely, protectionist measures from Trump can pose a threat to global trade and US economy, which will logically prove supportive for gold.

Meanwhile, Fitch reported that Trump's plans to slash taxes can threaten US triple-A credit rating over the medium term. The country has a very high level of government debt and proposed tax cuts by US$6.2 trillion over the next 10 years can pile up debt load by more 33%.

Oil futures scaled higher, underpinned by comments from Saudi Arabia Energy minister that OPEC would accelerate the rebalancing of the market and prices will be receptive to the same later this year.

Opening Bell: Markets Firmly up

The BSE Sensex opened at 27360 levels up 0.40%, while Nifty50 opened above 8,400 mark, up by 24 points.

On the macro front, Consumer price inflation (CPI) in December fell further to 3.4% with food inflation hitting a two-year low. Thanks to a lower base, the index of industrial production (IIP) grew by 5.7% yoy in November.
Gold briefly surpassed US$1,200/oz mark, with values eventually retreating from the seven week high on account of profit taking. The short term trajectory for the yellow metal hinges on the policy developments from Trump regime. Clarity of fiscal policy, including government spending and corporate tax cuts can translate into bullish dollar and effectively deemed negative for gold. Conversely, protectionist measures from Trump can pose a threat to global trade and US economy, which will logically prove supportive for gold.

Meanwhile, Fitch reported that Trump's plans to slash taxes can threaten US triple-A credit rating over the medium term. The country has a very high level of government debt and proposed tax cuts by US$6.2 trillion over the next 10 years can pile up debt load by more 33%.

Oil futures scaled higher, underpinned by comments from Saudi Arabia Energy minister that OPEC would accelerate the rebalancing of the market and prices will be receptive to the same later this year.

• INFOSYS opened at Rs 1032 per share up by 3.62 %.
• TCS opened at Rs 2340 per share down by 0.19%
• Reliance Industries opened at Rs 1087 per share up by 0.43 %
• Tata Steel opened at Rs 449 per share up by 0.28%
• Tata Motors opened at Rs 519.75 per share up by 0.27 %
• ONGC opened at Rs 201.55 per share up by 0.12%
• NTPC opened at Rs 173.50 per share up down by %
• COAL India opened at Rs 315.70 per share up by 0.80 %
• ICICI Bank opened at Rs 201.55 per share  up by 0.48%.
• HDFC Bank opened at Rs 1235 per share up by 0.08%.

 
Stock View:
 
Infosys Ltd is currently trading at Rs 1020, up by Rs 19.95 or 1.99% from its previous closing of Rs 1000.05 on the BSE.
 
The scrip opened at Rs 1026.35 and has touched a high and low of Rs 1045 and Rs 1014.1 respectively. So far 3373886(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 229705.95 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 1004.4 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.