Tata Motors drag Nifty below 8750.

Nifty closed at 8724.70 levels, down by 67.60 points or 0.77%; while Sensex closed at 28155.56 levels down by 183.75 points or 0.65%.
 
There were 317 advances, 1329 declines and 265 unchanged stocks on NSE, reflecting a strong negative undertone. 29 stocks touched their fresh 52 week highs and 21 stocks touched their fresh 52 week lows on NSE in Wednesday’s trading session.
 
Tata Motors' Q3FY17 consolidated results for the quarter ended on December 31, 2016 registered a miss versus street estimates. The stock reacted negatively to the results in Wednesday’s trading session. It was the top loser in the Nifty50 index, closing at Rs 436.70 per share, down by Rs 45.35 per share or 9.41%.
 
Zee Entertainment Enterprises Limited was the top Nifty gainer, closing at Rs 521.20 per share, up by Rs 8.25 per share or 1.61%.
 
Gitanjali Gems and PC Jeweller have fallen drastically, post Q3FY17 results. Gitanjali Gems has fallen by over 7%; whereas the stock of PC Jeweller has cracked over 4%. The stocks of both the companies have cracked due to poor Q3 results.
 
HDFC Bank Limited touched its lifetime high of Rs 1324 per share, up by Rs 12.9 per share or 0.98%.

Broader markets were also showing weakness on Wednesday. BSE Mid-cap index closed at 13187.82 levels, down by 154.77 points or 1.16%; and BSE Small-cap index closed at 13234.82 levels, down by 204.01 points or 1.52%.
 

BSE Bankex: Movers and Shakers.

BSE Bankex index is currently trading in red down by 121.27 points or 0.52% at 23105.20 levels; whereas BSE Sensex is currently trading in red, down by 162.07 points or 0.57%.  
Following are the BSE Bankex's Movers and Shakers: 

HDFC Bank is up by 0.71%, Axis Bank is up by 0.81, State Bank of India is up by 0.28% HDFC Bank on February 15 traded on new 52 week high at Rs 1321.90 per share.
 
Whereas, Federal Bank is down by 2.89%, Punjab National Bank is down by 2.71%, Bank of Baroda is down by 2.07%, ICICI Bank is down by 1.63% and Yes Bank is down by 0.85%.

Punjab National Bank is currently trading at Rs. 140.3, down by Rs. 3.8 or 2.64% from its previous closing of Rs. 144.1 on the BSE.
 
The scrip opened at Rs. 144.35 and has touched a high and low of Rs. 144.6 and Rs. 139.7 respectively. So far 4886459(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 30664.02 crore.
 
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 164.3 on 11-Nov-2016 and a 52 week low of Rs. 69.4 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 152.7 and Rs. 140 respectively.
 
The promoters holding in the company stood at 65.01 % while Institutions and Non-Institutions held 28.72 % and 6.27 % respectively.
 
The stock is currently trading above its 100 DMA.

Opening Bell - Markets open flat with slight negative bias; ITC is top Nifty gainer

 At 9:15 AM, the BSE Sensex opened lower by 69.20 points at 28270.11, while the Nifty50 opened lower by 13.35 points at the 8778.95 mark.
 
There are 722 advances, 647 declines and 433 unchanged stocks on NSE in the morning hours on Wednesday reflecting slight positive undertone.
 
The rupee opened flat at 66.92 per dollar.
 
India VIX is trading at 13.35 levels down by 3.26%. FMCG heavyweight, ITC Limited is among the top gainers in Nifty 50 trading at Rs 275 per share up by 1.55%. Tata Motors is the top loser in Nifty 50 trading at Rs 451.75 per share down by 6.29%.
 
Nifty 50 needs to sustain above the levels of 8820-8830 to regain its lost momentum, and if it manages to sustain above levels of 8820-8830, it is likely to scale up to levels of 8890-8950. On the downside, the level of 8700 is an important support for the short term.

 The European markets closed with mixed feelings. FTSE 100 closed lower by 10.36 points; CAC   40 closed higher by 7.63 points; German DAX closed lower by 2.62 points.

 
The American NASDAQ closed higher by 18.61 points. Dow Jones Industrial Average index closed higher by 92.25 points.
 
Japanese Nikkei 225 is trading higher by 234.52 points; China’s Shanghai Composite index is trading lower by 0.54 points; SGX Nifty is trading higher by 22 points.