Nifty and Sensex closes at 6-months closing high; Tata Steel top Nifty gainer

Nifty closed at 8,945 levels, up by 6.2 points or 0.8%. Sensex closed at 28,984.49 levels, up by 241 points or 0.8%. Both the indices ended at their six months closing high.
 
Tata Steel was the top Nifty gainer and Idea was the top Nifty loser. Tata Steel closed at Rs 500 per share, up by 3.6%. Idea closed at Rs 112.7 per share, down by 2.7%.
 
Broader markets performed in-line with the major indices in the markets. BSE Mid-cap index closed at 13,569.6 levels, up by 17.3 points or 0.13%. BSE Small-cap index closed at 13,753 levels, up by 62 points or 0.45%.
 
Nifty Metal index, Nifty Mid-cap index and Nifty Small-cap index touched their record highs in Wednesday’s trading session.
 
Eicher Motors closed at Rs 23,670 per share, down by 2%. Escorts closed at Rs 456 per share, up by 1.6%. Ashok Leyland on Wednesday posted its auto sales data for the month of February. The automobile company closed at Rs 89 per share, down by 1.4% while, Mahindra and Mahindra closed at Rs 1,350 per share, up by 3.3%.
 
Amtek Auto closed at Rs 38.7 per share, up by 1.6%. The company will consider the issue of Rs 2.35 crore to two of its promoters namely Amtek Laboratories and Aisa International on a preferential basis. The share will be issued to the promoters at Rs 50 per share, inclusive of premium of Rs 48 per share.
 
Monnet Ispat soared on bourses on Wednesday even as the reports of acquisition of stakes by SAIL in the company emerged. The stock closed at Rs 35.9 per share, up by 6.6%.
 
The leader in the passenger car segment-Maruti Suzuki has also declared its February sales number. The total sales number, which includes the domestic plus exports has increased by 11% in February 2017, as compared to the numbers in February 2016. The stock closed at Rs 5,921 per share, down by Rs 1.85 per share or 0.03%.
 
D-Link subsidiary TeamF1 & Rel Jio is planning to launch fixed line digital services. Its stock surged over 14% and managed to close at Rs 141 per share, up by 14%.
 

Live Stock Market Updates - HDFC, ITC and Infosys lift Nifty above 8950

HDFC, ITC and Infosys are major contributors to the Nifty and lifting it above 8950 mark. HDFC is up by 2.47%, ITC is up by 2.1% and Infosys 1.3%.
 
M&M zooms over 2% as the company posted improved February auto sales.
 
Nifty Midcap 100 index, BSE small cap index, Nifty Metal are trading at  their record highs. 
 
At 3 PM, the S&P BSE Sensex is trading at 29019 up 276 points, while NSE Nifty is trading at 8959 up 80 points. A total of 62 stocks registered a fresh 52-week high in trade today, while 14 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.4 % at 13602, whereas BSE Small-cap Index is trading up 0.6% at 13690.
 
Some buying activity is seen in FMCG, Finance, Healthcare and IT while, Energy, Telecom, and Oil & Gas are showing weakness on BSE.
 
Tata Steel, Hindalco, Dr Reddy, Kotak Mahindra Bank and M&M are among the gainers, whereas NTPC, BPCL, Tata Motors, Eicher Motors, Idea, Gail and BHEL are losing on the NSE.
 
The INDIA VIX is down 2% at 13.

Opening Bell - Nifty above 8900 level; ONGC top Nifty gainer

At 9:15 AM, the BSE Sensex opened higher by 105.7 points at 28849.04, while the Nifty50 opened higher by 24.8 points at 8904.40 mark.
 
There are 942 advances, 414 declines and 427 unchanged stocks on NSE in the morning hours of Wednesday’s trading session.
 
ONGC is the Nifty top gainer and Tech Mahindra is the Nifty top loser in the morning hours. ONGC is trading at Rs 196.40 per share, up by 1.47% whereas Tech Mahindra is trading at Rs 494.40 per share down by 1%.
 
The rupee opened at 66.78 per dollar lower by 9 paise.
 
Nifty50 has support placed at the 8,860 level, and if this support is breached, the next support is placed at the level of 8820. While on the upside, the levels of 8,925 and 8,980 are likely to act as immediate barriers in the short term.
 
The Dow on Tuesday halted its record-setting streak as investors remained cautious ahead of a speech by President Donald Trump. The Dow Jones Industrial Average shed 25 points to close at 20,812.24. The S&P 500 dropped 6.11 points to finish at 2,363.64. The Nasdaq Composite Index fell 36.46 points to end at 5,825.44.
 
On Wednesday, Asian shares edged higher. Japan’s Nikkei 225 surged 0.45%. Hong Kong’s Hang Seng gained 50 points to 23,791 and China’s Shanghai Composite gained 5.71 points to 3,247.44.