Nifty managed to close above 8400 level; PSU Banks and Realty were the top performers

Indian benchmark indices opened on a negative note taking weak cues from the Asian bourses this morning, but recovered in the late morning session itself and thereafter remained standstill throughout the session. Nifty managed to close above crucial level of 8400. Sensex closed above 27300 level.

At closing bell, the S&P BSE Sensex closed at 27302.64 up 64.58 points, while NSE Nifty closed at 8417.15 up 16.80 points. A total of 46 stocks registered a fresh 52-week high in trade today, while 11 stocks touched a new 52-week low on the NSE. 

Broader markets outperformed that encouraged market breadth to remain positive with 1562 advances and 1218 declines. 

The BSE Mid-cap Index closed at 12673.00 up by 0.27%, whereas BSE Small-cap Index closed at 12762.09 up by 0.57%. 

Adani Port, Idea, Tata Steel, Tata Motors, SBI and Bosch Limited were among the Nifty 50 top gainers, whereas HCL Tech, Infosys, Eicher Motors, Tata Power and Sun pharma are among the Nifty 50 top losers.

The INDIA VIX is trading at 14.97 up 4.08%.

The results announced in today’s trading session were quite impressive.

LIC Housing Finance reported increase in revenue by Rs 71.48 cr or 2.07%. Its net profit increased by Rs 4.5 cr or 0.91%. 

HIL Ltd, a small-cap cement and cement product manufacturer has announced its Q3FY17 results on January 16, 2017 where company posted a de-growth in revenues and a net loss on quarter on quarter basis. 

Dewan Housing Finance Corporation Ltd. reported growth in its revenue and net profit by 9.18% and 5.22% respectively. 

On the sectoral front, Realty sector remained positive throughout the day and closed making 1.1% gains, banks and financial services too rallied 1%. 

Jewellery stocks were gaining in Monday’s trading session. Gitanjali Gems touched a high of Rs 73.50 per share, up by Rs 7.15 per share or 10.77%. 

IT tumbled post heavy weight results and ahead of HCL TECH results. Nifty FMCG and Nifty IT closed flat to negative while all other sectors ended in green. 

Nifty Pharma closed losing 0.26%. Pharma giants remained under pressure of scrutiny of their business by US government. Sunpharma was the top loser which pulled down the Pharma index in Monday’s trading session. 

Further resistance for Nifty would be at 8420 followed by 8460.

Nifty struggling for 8400 level

Nifty is struggling to be above its crucial level of 8400. Realty and Metal are top performing sectors. IT and FMCG are in the weak position.

Market Bias is positive with 918 advances and 522 declines on NSE.

Ministry of Commerce and Industry has announced the WPI data today. WPI inflation is up at 3.39%.

At 12.15 PM, the S&P BSE Sensex is trading at 27260.43 up 22.37 points, while NSE Nifty is trading at 8401.95 up 1.60 points. A total of 41 stocks registered a fresh 52-week high in trade today, while 10 stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading up 0.32% at 12679.49, whereas BSE Small-cap Index is trading up 0.53% at 12756.95.

Only FMCG, IT and Pharma are trading in red, all other sectors are trading in green on NSE.

Adani Port, Idea, Tata Steel, Tata Motors are among the gainers, whereas HCL Tech, Infosys, Eicher Motors, Tata Power and Bosch are losing sheen on NSE.

The INDIA VIX is trading at 15.065 up 4.75%.

Tata Motors is trading at Rs 523.30 per share, up by Rs 8.45 per share or 1.64%. The stock has seen the addition of 731 contracts or 3.28% in its Open Interest.

DCB Bank has witnessed the 17.81% or 271 addition of contracts in its Open Interest. The stock is trading at Rs 122.65 per share, down by Rs 1.25 per share or 1.01%.

Tata Steel is top gainer, trading at Rs 456.10 per share up by 2.18%.

ensex, Nifty gained some momentum

In this week, more than fifty companies are expected to announce their quarterly result for the quarter ended on December 31, 2016. Market is expected to remain volatile throughout this week.

At 10:20 AM, the S&P BSE Sensex is trading at 27273.5 up 35.44 points, while NSE Nifty is trading at 8404.2 up 3.85 points. A total of 13 stocks registered a fresh 52-week high in trade today, while 4 stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading up 0.35% at 12683.82, whereas BSE Small-cap Index is trading up 0.42% at 12743.77.

Only FMCG and IT sectors are trading in red, All other sectors are trading in green on NSE.

Axis Bank, ITC, HDFC, GAIL, Tech Mahindra are among the gainers, whereas Idea, TCS, Hindalco, Infosys, NTPC are losing sheen on NSE in the first trading hour.

 The INDIA VIX is trading at 14.9175 up 3.72%.

Gitanjali gems limited stock from small cap index, has witnessed spurt in volume by more than 2.94 times. The stock is up by 7.84%.

Aditya birla fashion and retail limited stock from mid-cap index, is trading at Rs 144.60 per share, up by 3.47%.

Adani ports is among the top gainers, trading at Rs 301.15 per share, up by 2.41%.

Sensex, Nifty trade in red

At 09:35 AM, the S&P BSE Sensex is trading at 27191 down 47 points, while NSE Nifty is trading at 8379 down 21 points. A total of 13 stocks registered a fresh 52-week high in trade today, while 4 stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading up 0.16% at 12659.06, whereas BSE Small-cap Index is trading up 0.13% at 12706.09.

Some buying activity is seen in Media, Metal, PSU Bank, Realty, while Auto, Bank, Financial Services, FMCG, IT, Pharma, Private Bank are showing weakness on BSE.

Axis Bank, ITC, HDFC, GAIL, Tech Mahindra are among the gainers, whereas Idea, TCS, Hindalco, Infosys, NTPC are losing sheen on NSE in the first trading hour.

The INDIA VIX is flat at 14.3825.