Sensex slumps 300 points; Realty, Banking stocks drag

The SENSEX slipped below the 26,000 level by falling over 300 points in mid-session trade Monday, pulled down mainly by financial stocks.

The Sensex pared gains after rallying as much as 120 points in morning trade on Monday, led by losses for HDFC, Infosys, TCS and Maruti Suzuki. The domestic market fluctuated between gains and losses as energy producers advanced, while automakers and lenders declined.

The NIFTY50 reclaimed the 8,100 mark but immediately turned volatile ahead of expiry of November futures & options contracts due on Thursday.

At 12:46 PM, the S&P BSE Sensex is trading at 25,836, down 314 points, while NSE Nifty is trading at 7,960, down 114 points. It is the first time Nifty dropped below 8,000 since June 2016.

The BSE Mid-cap Index is trading down 2.23% at 11,803, whereas BSE Small-cap Index is trading down 2.69% at 11,550.

Holding ground in the gloomy market were WIPRO, INFY, ONGC while POWERGRID, SBI, HDFC bore the brunt through the first hour of trading.

Only IT index is trading in green, while realty, banking, auto, metal, financial and FMCG were in red.

The INDIA VIX is up 6.13% at 18.8975. Out of 1,885 stocks traded on the NSE, 1,384 declined, 226 advanced and 275 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trade today, while 53 stocks touched a new 52-week low on the NSE.

RASHTRIYA CHEMICALS AND FERTILIZERS LTD fell 3% after the company reported a marginal fall in net profit at Rs 43 crore for the quarter ended September 30. Its net profit stood at Rs 45.6 crore in the year-ago period.

PANACEA BIOTECH rallied 2% after the pharma company announce receipt of Establishment Inspection Report (EIR) from the USFDA indicating the formal closure of the cGMP and Pre­ Approval Inspection conducted by USFDA, at its Oncology Parenteral and Oral Solids Dosage formulation facilities at Malpur, Baddi in Himachal Pradesh.

Cadila Healthcare slipped 1.5%. Zydus Cadila has received the final approval from the USFDA to market for Metronidazole Tablets USP in strengths of 250 mg and 500 mg. The drug which is used to treat infections caused by bacetria will be produced at the group's formulations manufacturing facility at Baddi.

MAWANA SUGARS soared 12.6% to Rs 48 on the BSE. The Board of Directors of the Company has agreed to sell one of the operating units of the Company viz. Titawi Sugar Complex (TSC) in Uttar Pradesh as a going concern on an 'As is Where is What is' basis to Indian Potash Limited.

Techno Electric & Engineering Company gained 2% after the company has received an approval for sale/disposal of 45 MW Wind Power assets of the company, subject to approval of shareholders and other relevant authorities. The board of director at its meeting held on November 19, 2016 has approved for the same.

HPL ELECTRIC AND POWER hits 10% lower circuit at Rs 91. The company announced that the Company has reduced its debt around Rs 320 crore from IPO proceeds. 

PNB fell 6.6%. The bank has cut interest rate on fixed deposits by up to 0.25% in line with competition.

INDIA CEMENT tanked 3%. The company reported a 62% jump in standalone net profit at Rs 62 crore for the quarter ended September 30, 2016. It had posted a net profit of Rs 38.5 crore in the year-ago period.

HDFC and Unitech are trading lower on the BSE. With Unitech defaulting on loan repayment, housing finance major HDFC said it has sold the realty firm's outstanding loan of Rs 869 crore to JM Financial Asset Reconstruction Company (JMFARC).

NHPC dipped 2%. The Company has posted a net profit of Rs 1,554.7 crore for the quarter ended September 30, 2016 where as the same was at Rs 1215.7 crore for the quarter ended September 30, 2015.

NBCC slumped 3.5%. NBCC reported a consolidated net profit of Rs 69 crore against net profit of Rs 68 crore in the corresponding quarter last year.

Bharat Forge tanked 3.5%. The company announced the acquisition of US-based Walker Forge Tennessee, for a total consideration of USD14mn. Bharat Forge has made this acquisition through its US subsidiary.

Infosys advanced 0.5%. The IT company has invested Rs 145 mn in a start-up UNSILO. The investment is done through Infosys innovation fund.

Alembic Pharmaceutical is trading marginally higher on the BSE. The company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Telmisartan and Amlodipine Tablets.

Sensex, Nifty flat in early trade

At 9:15 AM, the S&P BSE Sensex is trading at 26,182 up 31 points, while NSE Nifty is trading at 8,087 up 13 points.

The Indian rupee opened marginally higher by two paise at 68.11/$ against the previous close of 68.13/$.

US markets closed in the red on Friday but Asian markets are in a better mood at the start of the week. Centre and states yet have issues to clear on GST and a crucial meet will take place later this week. The rupee movement will be in focus today.

Asian markets ex Japan opened weak as consolidation seems to be on the cards for this week. The Japanese 'Nikkei" index traded well over 18000 as it entered a new Bull market with the index rising 20% from its recent lows. Strength in US$ & rise in yields is seeing money exit emerging markets & chase higher returns in the developed markets with Japanese stocks seeing huge buying.

After falling close to 3 pc last week, the market will hope for some recovery. We’ve not had a positive week for a month now and unless there is meaningful improvement in foreign fund inflows, the indices may continue to languish in a range.

Meanwhile, SEBI is mulling relaxation of norms to permit FPIs to invest in unlisted NCDs and securitized debt instruments. Indian firms raised less than Rs. 3000 cr through QIPs in the first half this year and September alone brought in over Rs.2200 cr last year, the same time-zone saw Rs.12685 cr. being raised.

The Prime Minister mentioned about interest rates going lower after the demonetization drive and corporates may borrow money through bond sales in the coming days.

Nifty nears 6-month low; shuts below 8,100 mark

The Indian equity market declined for the fourth consecutive session. A sharp plunge in the rupee against the dollar and exception of strong foreign capital outflows after hints of rate hike in December by US Federal Reserve Chairwoman, Janet Yellen dampened the market sentiment. The Sensex dropped over 100 points during the last trading session while the broader Nifty-50 hit a 6-month low. The domestic market posted its worst week since February 12.

Moreover, the prevailing cash crunch following the government’s demonetisation decision has severely impacted select sectors such as real estate, consumer goods and metal. Besides, a mixed trend on other Asian bourses also influenced the trading momentum. Prices of few key commodities have fallen considerably since the move was announced amid drying up of demand. Also, fears have risen regarding production of the key commodities as farmers are not getting enough cash to buy seeds for winter crops.

The 30-share index closed down 77 points, or 0.30%, at 26,150.24. The BSE Sensex opened at 26,270, touched an intra-day high of 26,349 and low of 26,118.

The NSE Nifty closed with a loss of mere six points at 8,074. The NSE Nifty opened at 8,097 hitting a high of 8,129 and low of 8,048.

Among the 50-stocks of Nifty, NTPC, Eicher Motors, Sun Pharma, Bharti Airtel, Hero MotoCorp and Ambuja Cements were among the gainers on NSE, whereas Zee, Asian Paints, Tata Steel, Bharti Infratel, GAIL and TCS were among the losers today.

Today’s decline was led by the metal, consumer durables, banking, FMCG, finance and technology stocks, while oil & gas, realty, power, pharma and telecom were among the gainers.

The India VIX (Volatility) index was down 4.83% at 17.8050. Out of 1,367 stocks traded on the NSE, 610 declined and 714 advanced today. The BSE Midcap and Smallcap indices ended up in the range of 0.2-0.6%.

The rupee was trading down 34 paise at 68.15 per US dollar.

Asian markets closed mostly lower on Friday, with the Japanese market leading gains on the back of a relatively weaker yen, helping shares of the country's big exporters. At the close in Tokyo, the Nikkei gained 0.58% to hit a new 6-month high. Hang Seng closed marginally higher, whereas Shanghai Composite slipped 0.5%.

European indices are trading in red.  The FTSE 100 and CAC 40 were trading down by 0.4% each, while DAX is marginally lower.

Meanwhile, IT stocks continue to reel under pressure for the third straight day after Nasscom revised the IT sector’s growth forecast downwards to 8-10 per cent this year, as its biggest members such as TCS, Wipro, and Infosys struggle to grow faster because of an uncertain environment.

Punj Lloyd gained 2.6% to Rs 19.55 on NSE after the company said that its wholly-owned subsidiary executed definitive agreements with India Power Green Utility to co-develop 30 megawatts of solar assets.

Dilip Buildcon advanced 1.6% after the company announced that Northern Coalfields (M.P) has declared DBL-DECO (a joint venture of the Company) as the successful bidder (L1) for Excavation of Overburden of First Dig (Solid) and Re-handling by Mechnical Means at specified places at NIGAHI OCP of NCL at a project cost of Rs 1,469.8 crore.

Career Point rose 1%. The company has acquired 1,68,000 fully paid up equity shares 40% of Rs 10 each of Gyan Eduventure Pvt. Ltd., the subsidiary of the Company and consequently, Gyan Eduventure Pvt. Ltd. has now become a wholly owned subsidiary of the Company.

Canara Bank gained 2.6% after the bank has revised deposit interest rates in different maturities in retail and bulk deposits in the range of 5bps to 25 bps and these are effective from November 21, 2016.

IL&FS Transportation Networks advanced 1% after the company announced that the joint venture of the Company and IL&FS Engineering and Construction Co in the ratio of 51:49, has emerged as the Lowest Bidder for the development of two road projects of Madhya Pradesh Road Development Corporation under Madhya Pradesh District Road II Sector Project. The company had quoted an amount of Rs 213.5 crore for Project I and Rs 161.7 crore for Project 2 respectively. The construction period for Project 1 is 730 days and Project 2 is 548 days.

Deepak Fertilisers dropped 6.2%.  The company reported a net profit of Rs 26.96 crore for the quarter ended September 30, 2016 against Rs 28.31 crore in the corresponding quarter last year.

Petronet LNG climbed 8.3%.  The company's net profit of Rs 460 crore in July-September is 82% higher than the Rs 253 crore net profit in the same period a year ago.

Reliance Industries rose 1% after the company entered into a global partnership agreement with GE to enter into the Industrial Internet of Things (IIOT) space by building joint applications on the latter's Predix platform.

A total of eight stocks registered a fresh 52-week high in trade today, whereas 56 stocks touched a new 52-week low on the NSE.

Sensex, Nifty choppy; Metal, FMCG drag

The BSE Mid-cap Index is trading up 0.55% at 12,066, whereas BSE Small-cap Index is trading down 0.03% at 11,836. The INDIA VIX is down 4.52% at 17.8625. Out of 1,851 stocks traded on the NSE, 742 declined, 783 advanced and 349 remained unchanged today.

The domestic market fluctuated between gains and losses as extended decline in consumer durables and select auto stocks countered a rally in energy producers. The Nifty50 opened below the 8,100 mark.

At 11:14 AM, the S&P BSE Sensex is trading at 26,240 up 12 points, while NSE Nifty is trading at 8,088, up by a mere eight points.

The BSE Mid-cap Index is trading up 0.55% at 12,066, whereas BSE Small-cap Index is trading down 0.03% at 11,836.

NTPC, ONGC, Bajaj Auto, GAIL, M&M, HDFC, RIL and Maruti Suzuki are among the gainers, whereas Tata Motors, Dr Reddy's, Sun Pharmaceuticals, ITC, Adani Ports, Wipro are losing sheen on BSE.

Some buying activity is seen in oil & gas, power and energy sectors, while consumer durables, auto, banking, finance and telecom sectors are showing weakness on BSE.

The INDIA VIX is down 4.52% at 17.8625. Out of 1,851 stocks traded on the NSE, 742 declined, 783 advanced and 349 remained unchanged today.

A total of two stock registered a fresh 52-week high in trade today, while 39 stocks touched a new 52-week low on the NSE.

The Indian rupee opened lower by 18 paise at 68/$ against Friday's close as against the previous close of 67.81/$. The rupee fell to its lowest level since June 24.

Asian markets opened mixed with currency weakness hitting most indices. The Japanese yen hit 110 to the US$ & led the gainers with the Nikkei index scaling 18,000 while the South Korean won led the Kospi index lower. Expect the volatility to settle down by next week as the markets adjust to the new reality of higher bond yields globally as cost of money rises.

The economic data of the US seems to justify a rate hike ‘relatively soon’ says Fed Reserve Chair Janet Yellen, who intends to serve out her full term in office. Japanese Prime Minister Shinzo Abe is set to meet US President-elect Donald Trump in New York today. Fitch Ratings warned about the uncertainty created by Trump’s campaign rhetoric, stating talks of a more unilateral foreign policy are particularly significant given US status as the world’s biggest economy and a key diplomatic and military power.

RBI has decided to expand the list of eligible debt instruments foreign portfolio investors (FPIs) are allowed to invest in and included unlisted securities such as non-convertible debentures (NCDs) and bonds issued by public or private companies.

Parliament paralysis is back in India as the political slugfest continued over the demonetisation move even as the Opposition demanded the prime minister’s presence in the Rajya Sabha.

Nifty below 8,100 mark

The S&P BSE Sensex is trading at 26,159 down 69 points, while NSE Nifty is trading at 8,075, down by a mere five points.

The BSE Mid-cap Index is trading up 0.26% at 12,031, whereas BSE Small-cap Index is trading down 0.32% at 11,802.

NTPC, ONGC, Bajaj Auto, GAIL, M&M, HDFC, RIL and Maruti Suzuki are among the gainers, whereas Tata Motors, Dr Reddy's, Sun Pharmaceuticals, ITC, Adani Ports, Wipro are losing sheen on BSE.

Some buying activity is seen in oil & gas, power and energy sectors, while consumer durables, auto, banking, finance and telecom sectors are showing weakness on BSE.

The INDIA VIX is down 3.24% at 18.1025. Out of 1,851 stocks traded on the NSE, 755 declined, 661 advanced and 435 remained unchanged today.

A total of one stock registered a fresh 52-week high in trade today, while 26 stocks touched a new 52-week low on the NSE.

The Indian rupee opened lower by 18 paise at 68/$ against Friday's close as against the previous close of 67.81/$. The rupee fell to its lowest level since June 24.

Asian markets opened mixed with currency weakness hitting most indices. The Japanese yen hit 110 to the US$ & led the gainers with the Nikkei index scaling 18,000 while the South Korean won led the Kospi index lower. Expect the volatility to settle down by next week as the markets adjust to the new reality of higher bond yields globally as cost of money rises.

The economic data of the US seems to justify a rate hike ‘relatively soon’ says Fed Reserve Chair Janet Yellen, who intends to serve out her full term in office. Japanese Prime Minister Shinzo Abe is set to meet US President-elect Donald Trump in New York today. Fitch Ratings warned about the uncertainty created by Trump’s campaign rhetoric, stating talks of a more unilateral foreign policy are particularly significant given US status as the world’s biggest economy and a key diplomatic and military power.

RBI has decided to expand the list of eligible debt instruments foreign portfolio investors (FPIs) are allowed to invest in and included unlisted securities such as non-convertible debentures (NCDs) and bonds issued by public or private companies.

Parliament paralysis is back in India as the political slugfest continued over the demonetisation move even as the Opposition demanded the prime minister’s presence in the Rajya Sabha.

Nifty settles below 8,100 mark

The domestic market fell for the fourth straight session as lenders pared most of their early gains to close lower along with software exporters while select energy and auto stocks made a comeback ahead of US Federal Reserve Chair Janet Yellen's testimony to the US Congress today. Yellen is likely to speak on the possible impact of US president-elect Donald Trump's policies and the outlook for inflation.

Though buying interest in select index majors pushed the index higher in the middle, it failed to hold at a higher level and again retraced to the day's low in the end.

Among the 50-stocks of Nifty,  Tata Motors, Hindalco, Tata Motors DVR, Power Grid, GAIL, BHEL, Kotak Mahindra Bank and NTPC were among the gainers on NSE, whereas Ambuja Cement, Bharti Airtel, Zee, TCS, ACC and Asian Paints were among the losers today.

Finally, the BSE Sensex ended with a loss of mere 71 points at 26,228. The BSE Sensex opened at 26,305, touched an intra-day high of 26,450 and low of 26,155.

The NSE Nifty closed with a loss of 32 points at 8,080. The NSE Nifty opened at 8,105 hitting a high of 8,151 and low of 8,060.

Investors remained on the sidelines, keeping an eye on Parliament's winter session where the government is unlikely to bring three bills related to GST in the coming days, but it is hopeful of pushing them in the later half of the winter session.

Today’s decline was led by the telecom, IT, technology, auto and finance stocks, while utilities, power, oil & gas, pharma and consumer durables were among the gainers.

Indian Govt announced some new measures to ease the cash crunch caused by the move, including allowing farmers to draw money from banks against loans sanctioned to them.

Sentiments got some support with Moody’s Investors Service affirming India’s sovereign rating at ‘Baa3’ with a positive outlook, saying it expects policymakers to continue reforms to achieve balanced growth and reduce the government's debt load. Moody's further said that India's policy makers have taken important steps to strengthen the country's institutions.

The India VIX (Volatility) index was down 4.06% at 18.7100. Out of 1,506 stocks traded on the NSE, 999 declined and 471 advanced today. The BSE Midcap and Smallcap indices ended up.

The rupee was trading up 13 paise at 67.81 per US dollar.

On the global front, a drop in oil prices weighed on Asian markets on Thursday. Chinese shares headed for their third successive session of losses apprehending that the US Fed will raise rates in December. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 closed in green.
 
In Europe, the FTSE 100 was trading up by 0.2%. DAX and the CAC 40 were trading in red.

Lupin Ltd closed marginally higher on the BSE. The company announced that its US subsidiary, Gavis Pharmaceuticals LLC., U.S.A. (collectively Lupin) has received final approval for its Hydrocodone Bitartrate and Acetaminophen Tablets USP from the USFDA to market a generic equivalent of Mikart, Inc's Hydrocodone Bitartrate and Acetaminophen Tablets.

IT stocks dropped 1.4% on the BSE after Nasscom said on Wednesday that India’s software services industry will grow at a slower pace than estimated earlier. Nasscom now expects the IT exports to grow between 8% to 10% in the current fiscal, slower than the earlier projection of 10 to 12%. TCS tanked 2.5%, HCL Tech and Wipro closed down 1.5% each, while Infosys slipped 1.3%.

Bharti Airtel dropped 4.3%.  Bharti Airtel announced completion of the merger of its subsidiary Bangladesh telecom unit with Robi Axiata Limited.

Greenply Industries jumped 6%. The company informed on BSE that MSCI has announced changes to its constituents for the MSCI Global Small Cap Indices as part of the change. Change in constituents for the MSCI Global Small Cap indices will take place at the close of November 30, 2016.

Indraprastha Gas rose 2.2%. The company posted a net profit of Rs 144 crore for the quarter ended September 30, 2016 as compared to Rs 102 crore for the quarter ended September 30, 2015.

Voltas fell 7.8%. The company reported 7% increase in consolidated net profit at Rs 72 crore for the quarter ended on September 30, 2016. It had posted a net profit of Rs 67 crore in the July-September quarter a year ago.

Shipping Corporation of India tanked 8% after the company posted standalone net loss of Rs 20 crore for the second quarter ended September 30, 2016-17. The company had posted standalone net profit of Rs 162 crore in the July-September quarter of the 2015-16 fiscal.

Engineers India soared 2.6% to Rs 265. Engineers India reported a 21% jump in net profit in the September quarter at Rs 94 crore as compared to Rs 77 crore in the same period a year before, and declared a 1:1 bonus share.

Axis Bank advanced 0.50% to Rs 474. The bank has cut marginal cost of fund-based lending rate (MCLR) by 0.15-0.20%.

A total of five stocks registered a fresh 52-week high in trade today, whereas 53 stocks touched a new 52-week low on the NSE.

Nifty hovers around 8,100 mark

The S&P BSE Sensex is trading at 26,341 up 40 points, while NSE Nifty is trading at 8,121 up 10 points.

The BSE Mid-cap Index is trading up 0.17% at 12,064, whereas BSE Small-cap Index is trading down 0.07% at 11,899.

Axis Bank, Tata Motors, Lupin, SBI, Bharti Airtel and ICICI Bank are among the gainers, whereas Wipro, Dr Reddy's, Sun Pharmaceuticals, Power Grid and Coal India are losing sheen on BSE.

Some buying activity is seen in banking, auto financial services, FMCG and realty sectors, while media and IT sectors are showing weakness on NSE.

The INDIA VIX is down 6.70% at 18.1950. Out of 1,853 stocks traded on the NSE, 524 declined, 927 advanced and 402 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Global cues turned weak as profit booking sets in after a week of heady gains both on the indices & bond yields. With US dollar also weakening emerging markets saw a relief rally with Brazilian index up almost 2% even as most European markets ended in the red. We could see some Asian markets also bounce from oversold territory as value buying emerges.

On the global front, all eyes will be on Janet Yellen as she speaks before congress today.  

Nasscom cut growth guidance for the industry to 8-10 % in constant currency terms from 10-12%. According to the guidance, India will continue to gain market share of 7% of global software and IT services and 56% of global sourcing.

New Delhi has woken up to tremors as a 4.4 magnitude earthquake struck on the Delhi-Haryana border early morning. The first day of Parliament’s Winter session saw the Opposition launch an attack on the government for the demonetisation of high value currencies. 

Sensex, Nifty end volatile; consumer durables, pharma stocks drag

The Indian stock market see-sawed between the negative and positive zone throughout the day and ended lower on Wednesday. The domestic market slid for a third straight day as investors continued to assess the impact of the Prime Minister's move to ban high denomination banknotes.

Today’s decline was led by the consumer durables, metal, pharma, oil and gas, realty and capital goods stocks, while IT, consumer discretionary, auto and technology were among the gainers.

Finally, the BSE Sensex ended with a loss of mere six points at 26,299. The BSE Sensex opened at 26,509, touched an intra-day high of 26,621 and low of 26,262.

The NSE Nifty closed with a gain of mere three points at 8,112. The NSE Nifty opened at 8,584 hitting a high of 8,622 and low of 8,544.

Among the 50-stocks of Nifty, Asian Paints, Zee, Eicher Motors, Tech Mahindra, TCS, Maruti Suzuki and Tata Power were among the gainers on NSE, whereas Hindalco, Ambuja Cement, ITC, Aurobindo Pharma and Sun Pharmaceuticals were among the losers today.

Investors will be keeping an eye on the Parliament winter session which began today. The Centre has lined up three key GST Bills for approval to roll out the new tax from April 1 next year even as the demonetization move threatens to swamp the winter session of Parliament.

On the economy front, India’s retail price inflation fell to a 14-month low of 4.2% in October from 4.39% a month ago as inflation of fruits and pulses softened, raising the chances of an interest rate cut by the Central bank.

India's trade deficit widened to $10.16 billion in October from $8.34 billion in the previous month, as gold imports more than doubled to $3.5 billion from a year ago. Merchandise exports grew 9.6% year-on-year to $23.5 billion, while imports expanded 8.11% year-on-year to $33.67 billion, the data showed.

The India VIX (Volatility) index was down 3.18% at 19.5025. Out of 1,431 stocks traded on the NSE, 809 declined and 574 advanced today. The BSE Midcap and Smallcap indices ended up.

The rupee was trading down 10 paise at 67.84 per US dollar.

On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 gained 1%.

In Europe, the FTSE 100 was trading down 0.24%. DAX and the CAC 40 were trading lower by 0.3% each.

Cigarette stocks closed in red after the Union Cabinet is likely to soon consider a proposal to completely ban foreign direct investment in the tobacco sector. ITC tumbled 3.6% on the NSE.

PC Jeweller fell 8% on the BSE. Jewellery companies, whose business mainly runs on cash transactions, have been reeling under the government’s move to ban the usage of high value currency notes.

HDFC gained 2.5% to Rs 1,257 on BSE after the company said that it intends to raise Rs 2,000 crore through issue of senior, secured, non-convertible debentures on private placement basis.

Tata Global Beverages jumped 3.6%. The company reported 48% increase in consolidated net profit at Rs 108 crore for the quarter ended September 30, 2016. Tata Global Beverages had posted a net profit of Rs 73 crore in the July-September quarter a year ago.

Ambuja Cements, ACC closed lower on the BSE after Lafarge Holcim increased its shareholding to 63% of the total Ambuja shares through its subsidiary. It also increased its holding in ACC Ltd., a subsidiary of Ambuja, to 4.48%, the company said in a BSE filing.

Elgi Equipments rallied 4.4% to Rs 175 after the revenue was reported to be 8.4% below the estimate of Rs 373 cr, while net profit was reported 3% lower than the estimated figure of Rs 19 cr.

PSU Oil stocks closed in red after petrol price on Tuesday was cut by Rs 1.46 a litre and diesel by Rs 1.53 per litre.

A total of six stocks registered a fresh 52-week high in trade today, whereas 58 stocks touched a new 52-week low on the NSE.

Sensex jumps over 200 points; Nifty above 8,150 mark

The domestic market recovered after hitting a five-month low on Tuesday, tracking positive global cues and lower inflation data released yesterday. The Sensex up over 300 points, while the broader Nifty50 index regained its crucial 8,200 level.

The S&P BSE Sensex is trading at 26,493 up 189 points, while NSE Nifty is trading at 8,154 up 46 points.

The BSE Mid-cap Index is trading up 1.29% at 12,123, whereas BSE Small-cap Index is trading up 0.77% at 11,994.

Asian Paints, TCS, ICICI Bank, Maruti Suzuki and ONGC are among the gainers, whereas Lupin, Sun Pharmaceuticals, Cipla and L&T are losing sheen on BSE.

Some buying activity is seen in realty, IT, auto, banking, energy and oil & gas sectors, while pharma, consumer durables, capital goods and industrial sectors are showing weakness on NSE.

The INDIA VIX is down 3.07% at 19.5250. Out of 1,879 stocks traded on the NSE, 615 declined, 1,036 advanced and 319 remained unchanged today.

A total of five stocks registered a fresh 52-week high in trade today, while 5935 stocks touched a new 52-week low on the NSE.

Asian markets traded in the green on opening bell taking cues from the US indices which hit new all time highs. The return of the risk on trade seems imminent with money now entering the developed markets with US, Germany & Japan set to outperform in the near term.With strong expectation of huge infra spend on the anvil the US indices seem set to move higher as higher bond yields coupled with $ strength indicate bullish momentum.

The Indian rupee opened higer by six paise at 67.68/$ against Tuesday close at as against the previous close of 67.74/$.

The Union cabinet on Tuesday approved a modest 6.6% hike in the minimum support price (MSP) of wheat.

On the economy front, India’s retail price inflation fell to a 14-month low of 4.2% in October from 4.39% a month ago as inflation in fruits and pulses softened, raising the chances of an interest rate cut by the central bank.

India's trade deficit widened to $10.16 billion in October from $8.34 billion in the previous month, as gold imports more than doubled to $3.5 billion from a year ago. Merchandise exports grew 9.6% year-on-year to $23.5 billion, while imports expanded 8.11% year-on-year to $33.67 billion, the data showed.

Sensex rallies over 250 points; Banking, Realty stocks lead

The S&P BSE Sensex is trading at 26,565 up 261 points, while NSE Nifty is trading at 8,193 up 84 points.

Asian markets traded in the green on opening bell taking cues from the US indices which hit new all time highs. The return of the risk on trade seems imminent with money now entering the developed markets with US, Germany & Japan set to outperform in the near term.With strong expectation of huge infra spend on the anvil the US indices seem set to move higher as higher bond yields coupled with $ strength indicate bullish momentum.

The Indian rupee opened higer by six paise at 67.68/$ against Tuesday close at as against the previous close of 67.74/$.

The Union cabinet on Tuesday approved a modest 6.6% hike in the minimum support price (MSP) of wheat.

On the economy front, India’s retail price inflation fell to a 14-month low of 4.2% in October from 4.39% a month ago as inflation in fruits and pulses softened, raising the chances of an interest rate cut by the central bank.

India's trade deficit widened to $10.16 billion in October from $8.34 billion in the previous month, as gold imports more than doubled to $3.5 billion from a year ago. Merchandise exports grew 9.6% year-on-year to $23.5 billion, while imports expanded 8.11% year-on-year to $33.67 billion, the data showed.