Markets consolidate, Nifty takes u-turn from 8460 mark

Indian benchmark indices retreated after hitting a day’s high in the first hour of the trading session. We had talked of 8460 as the resistance for the Nifty, likewise, it hit the 8460 mark and then took a u-turn. 8400 will still act as an immediate support for now.
 
Finally, both the Nifty and the Sensex closed marginally higher by 0.23% and 0.08% respectively, maintaining consolidation for the fifth consecutive day.
 
Broader markets outperformed, wherein Small-cap and Mid-cap indices surged 0.65% and 0.47% respectively, and market bias remained positive with 1509 advances and 1215 declines.
 
On the sectoral front, all the sectors ended in the green, where Metals exceled again with 2.38% gains. Nalco, Jindal Steel, Vedanta, Hindalco and Tata Steel led the move with gains ranging between 3-5%. Otherwise, Auto and Realty closed on a flat to positive note.
 
On the stock specific front, Ultratech Cements, BHEL and Hindalco were the top gainers; while Idea Cellular, NTPC and GAIL were the top losers for the Nifty.

Market maintain early gains; Fertilisers and Paper stocks soar

Nifty Metal touched a high at 3005.60 level gaining 2.33%. All the stocks from Nifty Metal are advancing with Hindustan Zinc Limited leading the pack. Hindustan Zinc Limited touched a new 52 week high of Rs 296.40 per share, up by Rs 11.45 per share or 4.02%.
 
At 12:45 PM, the S&P BSE Sensex is trading at 27312.95 up 77.29 points, while NSE NIFTY is trading at 8427.35 up 29.35 points. A total of 41 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 0.51% at 12737.3, whereas BSE Small-cap Index is trading up 0.64% at 12887.03.
 
BSE Mid-cap and BSE Small-cap are outperforming major indices.
 
All sectors are trading in green on NSE except Realty at lunch hour.
 
Hindustan Unilever Limited, Tata Steel, BHEL and Grasim are among the gainers, whereas Bharti Airtel, Dr Reddy, BPCL, GAIL and NTPC are losing sheen on NSE.
 
The INDIA VIX is up 0.65% at 15.16.
 
Following are the buzzing stocks at lunch hour on Wednesday.
 
Paper stocks are gaining on Wednesday’s trading session. JK PAPER is trading up by 3.69%. KAUNTAM PAPER is trading up by 3.35%. RAINBOW PAPERS gained by 9.46%.
 
VEDANTA LIMITED is shining in Metal sector. The stock touched a high of Rs 246.20 per share gaining Rs 10.1 per share or 4.2%.

 HINDUSTHAN ZINC LIMITED opened at Rs 293 per share gaining Rs 8.05 per share or 2.83%. The stock touched new 52 week high of Rs 296.40 per share, gaining Rs 11.45 per share or 4.02%.
 
EXCIDE INDUSTRIES LIMITED is leading the pack of Nifty Auto. The stock touched the high of Rs 188.40 per share up by Rs 5.65 per share or 3.09%.
 Tata Elxsi is leading the pack of Nifty IT. The stock touched the high of Rs 1519.65 per share gaining Rs 96.55 per share or 6.78%.

TRANSFORMERS AND RECTIFIERS  LIMITED is up by 18.7%.
 
ANDHRA CEMENT is up by 8%. Pokarna is up by 9%.

Market trading firm; Hindustan Zinc, BHEL gain more than 3%

Private Bank and Realty opened in red on Wednesday’s trading session losing 0.05% and 0.19% respectively. PSU Banks gained the most at the time of opening. FMCG and Pharma opened flat today.
 
Nifty Metal touched a high at 2998.05 level gaining 2.07%. All the stocks from Nifty Metal are advancing with Hindustan Zinc Limited leading the pack. Hindustan Zinc Limited touched a new 52 week high of Rs 296.40 per share, up by Rs 11.45 per share or 4.02%.
 
At 10:45 AM, the S&P BSE Sensex is trading at 27381.65 up 145.99 points, while NSE Nifty is trading at 8448.75 up 50.75 points. A total of 41 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 0.69% at 12759.96, whereas BSE Small-cap Index is trading up 0.74% at 12899.01.
 
All sectors are trading in green on NSE.
 
Hindustan Unilever Limited, Tata Steel, BHEL, Ambuja Cement and Grasim are among the gainers, whereas Bharti Airtel, Dr Reddy, BPCL, GAIL and NTPC are losing sheen on NSE.
 
The INDIA VIX is up 0.83% at 15.19.
 
Following are the buzzing stocks at the time of opening on Wednesday
 
HINDUSTAN ZINC LIMITED  opened at Rs 293 per share gaining Rs 8.05 per share or 2.83%.
 
UNITED SPIRITS LIMITED opened at Rs 2110 per share gaining Rs 24.85 per share or 1.19%.
 
YES BANK LIMITED opened at Rs 1328.80 per share gaining Rs 5 per share or 0.37%.
 
AMARA RAJA BATTERIES LIMITED is leading the pack of Nifty Auto. The stock touched a high of Rs 923.50 per share up by Rs 17.80 per share or 1.96%.

Market firmly up near 100-DMA

At 9:15 AM, the BSE Sensex opened higher by 54 points at 27273, while the Nifty50 opened higher by 22 points at 8419 mark.
 
The Indian rupee opened higher at Rs 67.93 as against Rs 68.09 per dollar on Tuesday.
 
Nifty gained momentum and touched high of 8440.90 level in the first half of the Tuesday’s trading session. FMCG sector was top gainer in the Tuesday’s trading session.
 
The FTSE 100 of the U.K. declined 1.46 per cent, CAC 40 of France corrected 0.46 per cent and DAX of Germany slipped 0.13 per cent. 
 
European market started with a weak start on Tuesday and pared losses in remaining day following the U.K. Prime Minister Theresa May. She stated that U.K. is all set for complete separation from European Union.
 
US markets closed in red on Tuesday.
 
The SGX Nifty index is trading flat at 8418.50.
 
Twenty-one companies are going to announce their result on Wednesday’s trading session.
 
Key results to watch out for in Wednesday’s trading session are KPIT, Hindustan Oil Exploration Limited, Muthoot Finance. Investors would be keen to watch the performance of these stocks in Wednesday.
 
Following stocks would be in focus today.
 
ADANI PORTS is trading at Rs 279 per share up by 0.83%.


AXIS BANK is trading at Rs 490 per share up by 0.77%.
 
TATA MOTORS is trading at Rs 527 per share up by 0.76%.
 
COAL INDIA is trading down by 0.23% trading at Rs 306 per share.
 
LUPIN Pharmaceuticals is trading at Rs 1491 per share down by 0.3%