Nifty tests 8750; Capital Goods stocks outperform

Nifty was trading in negative territory for whole day and closed in red at 8768.30 levels, down by 32.75 points or 0.37%. Sensex closed at 28335.16 levels, down by 104.12 points or 0.37%.
 
Heavy electrical equipment manufacturer, Bharat Heavy Electricals Ltd., has surged to Rs 154.9 per share, up by Rs 10.9 per share or 7.56% after announcement of its standalone financial results for the quarter ended on December 31, 2016. The stock witnessed an upward movement in closing hours of Tuesday’s trading session. BHEL secured the top position in the bunch of Nifty 50 stocks.
 
Larsen & Toubro Ltd., is the top gainer in the Sensex, closing at Rs 1502 per share, up by Rs 17.05 per share or 1.15%.
 
Auto stocks like Bajaj-Auto, Tata Motors, Hero MotoCorp and M&M remained weak throughout the day, eventually dragging the Sensex down.
 
Nifty Bank closed at 20327.25 levels, down by 44.35 points or 0.22%. Bank stocks remained calm with some positive bias ahead of RBI’s monetary policy.
 
Tata Motors Ltd., closed at Rs 507.15 per share, down by 3.46%.
 
BSE IT closed in green along with BSE Consumer Durables and BSE Capital Goods. Firstsource Solutions Ltd., was the top gainer in the BSE IT index. The stock closed at Rs 43.4 per share, up by Rs 3.85 per share or 9.73%.
 
BSE Metal and BSE Realty closed in red showing weakness.
 

Live Stock Market Updates - Markets under pressure; Crompton Greaves up by 2.08%.

he INDIA VIX is up 1.34% at 13.58. S&P BSE Sensex is trading at 28,383 down 55.45 points, while NSE Nifty is trading at 8781.70 down 19.20 points. A total of 75 stocks registered a fresh 52-week high in trade today, while 8 stocks touched a new 52-week low on the NSE.

Hexaware Technologies surged 3.51% owing to its Q4CY16 results for the quarter ended on December 31, 2016. Also, LG Balakrishnan & Bros fell over 5% as the company announced its Q3 results in Tuesday’s trading session.
 
BSE Consumer Durables is gaining grounds and is up by 0.53%. Crompton Greaves is contributing around 68% alone to the sector index gains. Other stocks in the index are trading in green. Titan is up by 0.88%, Rajesh Export is up by 0.77%.

These small-cap stocks are gaining grounds, IGPL is up by 10.8% , Corporation Bank is up by 10.54%, Sunil Hitech is up by 9%, Unitech is up by 8%, Polymed is up by 8%, ICRA is up by 7% and Amtek auto is up by 6%.
 
Whereas, Banco India is down by 8%, Prakash Industries is down by 5.15%, Ester Industries is down by 4.90% and Aegis Logistics is down by 4.44%
 
At 12 PM, the S&P BSE Sensex is trading at 28,383 down 55.45 points, while NSE Nifty is trading at 8781.70 down 19.20 points. A total of 75 stocks registered a fresh 52-week high in trade today, while 8 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.22% at 13461.10, whereas BSE Small-cap Index is trading up 0.37% at 13589.26.

Opening Bell - Markets opened with negative bias taking cues from Asian markets; Sun Pharma up by 1.34%

At 9:15 AM, the BSE Sensex opened higher by 3.95 points at 28443.23, while the Nifty50 opened higher by 4.65 points at the 8805.7 mark.
 
The rupee opened at 67.29 per dollar down by 8 paise.
 
There are 858 advances, 507 declines and 436 unchanged stocks in morning hours on NSE.
 
All eyes would be on the Reserve Bank of India’s policy review today. Slowing inflation and a fiscally responsible budget may sway the RBI to cut interest rates on Wednesday, according to a Mint survey of economists of 10 banks.
 
Nifty50 is likely to face resistance around the level of 8,860. On the downside, the zone of 8,750 is likely to offer support to the index.
 
The American NASDAQ closed at 5663.55 levels down by 3.22 points. The Dow Jones Industrial Average fell 19 points. The S&P 500 shed 4.86 points.
 
Asian stocks have started off on a negative note on Tuesday, tracking the overnight fall in the US, as investors turned risk averse amid political uncertainties globally. Japan’s Nikkei 225 is trading with loss of 94 points, while Hang Seng is trading lower by 33 points and Shanghai Composite is trading flat. SGX Nifty is trading at 8805.50 levels down by 10.50 points.