Markets post a breakdown amid banks’ results and global cues

Indian stock markets extended losses where both Nifty and Sensex tumbled as much as 1%. Nifty hit below 8350 mark and closed at 8346 while Sensex shed 274 points and closed just above 27000 mark at 27034.

Nifty closed below 8350 for the first time in 8 sessions. The whole pessimism was driven ahead of Trump’s inauguration later in the day and after Janet Yellen's cues on a steady outlook on rate hikes.

Broader markets slightly underperformed by losing 1.5% and 1.3% in Midcap and Smallcap index.

Market breadth remained highly negative with 847 advances and 1856 declines.

The PSU Banking sector fell 3% on the back of free fall in Canara and Allahabad Bank.

Metal, Media and Realty sectors tumbled more than 2%.

FMCG closed flat where the fall was followed by Mcdowell-N and ITC gaining 1.7% and 0.5% respectively.

Telecom sector stocks continued to rally where IDEA and Bharti Airtel remained top gainers while Axis Bank extended losses and remained among the top losers.

Movers & Shakers in today’s trade:


AXIS BANK :- The bank dragged the index the most by losing more than 7% of its price on Friday.

HAVELLS :-  The mid cap stock closed up by more than 3% on a down day.

M& M FINANCE :- The stock closed down by more than 6% in line with the mood of the market.

Stock view:-

Axis Bank Ltd is currently trading at Rs 450.5, down by Rs 33.2 or 6.86% from its previous closing of Rs 483.7 on the BSE.

The scrip opened at Rs 460 and has touched a high and low of Rs 461 and Rs 448.1 respectively. So far 32112432(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 115679 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 638 on 07-Sep-2016 and a 52 week low of Rs 373.3 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs 491.65 and Rs 455.2 respectively.

The promoters holding in the company stood at 28.91 % while Institutions and Non-Institutions held 57.8 % and 8.93 % respectively.

The stock is currently trading below its 200 DMA.

Markets cautious ahead of Trump's swearing in ceremony

BSE Small cap index opened flat in the morning on Friday at 12925.01 level. Arshiya limited is the top gainer among the Small cap stocks. The stock is trading at Rs 40.10 per share, up by Rs 6.65 per share or 19.88%.
 
Havells India limited is leading the bunch of Mid cap stocks. The stock is trading at Rs 402.70 per share, up by Rs 16.50 per share or 4.27%.
 
Idea Cellular limited is buzzing on the bourses. The stock is the top gainer among the large cap stocks. It is trading at Rs 72.15 per share gaining 4.02%.
 
At 12:45 PM, the S&P BSE Sensex is trading at 27192.79 down 115.81 points, while NSE Nifty is trading at 8406.05 down 29.05 points. A total of 42 stocks registered a fresh 52-week high in trade today, while 6 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading down 0.34% at 12743.37, whereas BSE Small-cap Index is trading down 0.07% at 12927.30.
 
Some buying activity is seen in FMCG and Media while all other sectors are showing weakness on NSE.
 
There are 656 stocks advancing, 905 are declining and 345 are unchanged on NSE.
 
Idea, Bharti airtel, Ultra Tech cement, Grasim and Yes bank are among the gainers, whereas Axis Bank, Tata Motors, ONG,  ICICI Bank and Infratel are among the losers on NSE. 
The INDIA VIX is up 1.71% at 15.27.

Sensex slips over 100 points; Banking stocks drag

At 10:00 AM, the S&P BSE Sensex is trading at 27198.45 down 110.15 points, while NSE Nifty is trading at 8405.45 down 29.65 points. A total of 29 stocks registered a fresh 52-week high in trade today, while 5 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading down 0.18% at 12763.7, whereas BSE Small-cap Index is trading up 0.06% at 12927.84.
 
Some buying activity is seen in FMCG and Realty while all other sectors are showing weakness on NSE.
 
Idea, Cipla, Grasim, GAIL and Yes Bank are among the gainers, whereas Axis Bank, Tata Motors, Adani Port, ICICI Bank and Infratel are losing sheen on NSE in the first trading hour.
 
The INDIA VIX is up 1.10% at 15.19.

Realty stocks gain in the opening hours. Godrej Properties is the top gainer in the first half hour of trading session on Friday.
 
PRESTIGE is up by almost 2.70% and is trading at Rs 169.50 per share.
 
UNITECHis up by 1.31% trading at Rs 4.64 per share.
 
DLF is up by 0.83% trading at Rs 133.30 per share
 
Godrej Properties is trading at Rs 334.45 per share up by 1.33%.
 
Tata Motors DVR is down by almost 2.21 % trading at Rs 330 per share. Tata Motors DVR has seen a spurt in OI of almost 15.44%.

Top 16 stocks in focus today: Motherson Sumi Systems, Axis Bank, Mindtree

Motherson Sumi Systems: The company has agreed to buy Finnish truck wire maker PKC Group for 571 million euros ($609 million).

Bharti Airtel: The company's Chairman Sunil Mittal said the telecom major is in talks with Telenor for acquiring the Norwegian company’s spectrum in India.

Cement stocks in focus: The Competition Commission of India has imposed an aggregate penalty of Rs 206 crore on seven cement companies.

Orient Green Power: The company has entered into an exclusivity period of 90 days to evaluate a potential merger of the wind energy assets with IL&FS Wind Energy.

Cadila Healthcare: The pharma company has acquired Sentynl Therapeutics Inc, a U.S. based specialty pharmaceutical firm.

Gallantt Ispat: Gallantt Ispat reported 14% rise in net profit at Rs 9.3 crore for the quarter ended December 31, 2016 against Rs 8.2 crore in the corresponding quarter last year.

Alembic Ltd: The company reported a net profit of Rs 0.68 crore for the quarter ended December 31, 2016 against net loss of Rs 3.91 crore in the same quarter last year.

Mindtree: Mindtree's net profit stood at Rs 103.1 crore, impacted by currency movement, seasonality of business and lower profitability from its Bluefin and Magnet 360 business. The Bengaluru-based firm had posted a net profit of Rs 94.8 crore in the corresponding quarter last year.

GMR Infrastruture: The company's unit Delhi International Airport Ltd issues project to develop retail assets at the Delhi airport to Bharti Realty Holdings. The transaction involves upfront payments of Rs 315 crore.

Zuari Global: The company's unit Indian Furniture Products and Poland's Forte set up joint venture for manufacturing and distribution of furniture for the Indian market.

Adani Ports & Special Economic Zone: The company has raised $500 million by allotment of fixed rate senior unsecured notes.

Quick Heal: The company has chosen Dell EMC’s market-leading XtremIO all-flash storage array to help accelerate its virtual machine environment to support the expansion of its enterprise security business.

Jindal Stainless: The company is seeking shareholders’ approval to allot certain shares shares on preferential basis to 31 banks and financial institutions.

Idea Cellular: The company's board meeting on January 23 to approve third-quarter results has been postponed.

State Bank of Mysore: The bank will raise Rs 1,000 crore as Basel III compliant additional tier 1 bonds.

MEP Infra: The company's unit gets contract from the National Highways Authority of India (NHAI) for four laning of a road in Nagpur.

Markets opened in red; Nifty holds crucial 8,400

At 9:15 AM, the BSE Sensex opened lower by 92 points at 27216, while the Nifty50 opened lower by 32 points at 8401 mark.
 
Profit Booking was witnessed on the Thursday’s trading session, but markets recovered in the closing hours and Nifty managed to close firmly above crucial level of 8400.
 
European markets were trading mixed and closed marginally lower. CAC 40 closed at 4841.14 level losing 0.25%. German DAX closed at 11596.89 level losing 0.02%. FTSE 100 declined by 39.17 points to close at 7208.44 level.
 
US markets closed lower on Thursday with Dow Jones Industrial Average declining in fifth straight session. Investors are cautious ahead of president elect Donald Trump’s inauguration on Friday. Dow Jones declined by 0.37% to close at 19732.40 level. S&P 500 closed at 2263.69, down by 0.36%.
 
Asian markets are trading flat to positive. Nikkei 225 is trading at 19091.84 level up by 0.10%. China’s Shanghai SE Composite Index is trading up by 0.54%. China’s Gross Domestic Product (GDP) grew at 6.8% in the fourth quarter.
 
The SGX Nifty index slumped 21 points to close at 8420. Cement stocks would remain in focus on Friday owing to CCI penalty imposed on seven cement companies.

Indian Rupee opened at 68.05 per dollar.
 
Ultra-tech cement opened at Rs 3452 per share, down by Rs 3.1 per share.
 
IDEA is trading at Rs 71.15 per share, up by Rs 1.85 per share.
 
Axis Bank is down by 5.36% trading at Rs 457.75 per share.