Nifty reclaims 8,400 mark; Pharma, Metal stocks drag

The Indian stock market gained  for a third day with benchmarks extending their two-month high lead as some investors assessed that the impact of the demonetisation may be factored in and take positions ahead of the Union Budget early next month.

At 10:18 AM, the BSE Sensex is trading higher by 72 points at 27,213, while the NIFTY50 jumped 18 points at 8,399 mark. The Nifty50 hit 8,400 mark for the first time since Nov 11, 2016.

The BSE Mid-cap Index was down by 0.22% at 12,510, whereas BSE Small-cap Index was down by 0.16% at 12,686.

Infosys, Infratel, Adani Ports, ONGC and UltraTech Cements were among the gainers, whereas Aurobindo Pharma, Sun Pharmaceuticals, Dr Reddy's and Lupin were among those losing sheen on NSE.

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

Out of 1,901 stocks traded on the NSE, 926 declined, 579 advanced and 396 remained unchanged today.

Some buying was observed in media, banking auto and financial services sectors, while pharma, metal, realty, and FMCG stocks are showed weakness on NSE.

The INDIA VIX was down 1% at 14.69.

The Indian rupee opened higher by 17 paise against US Dollar at 68.15 per dollar versus 68.32 Wednesday.

Yen witnessed strong recovery against the greenback, as the differentials between US 10yr and Japanese bonds narrowed.

Conversely, Mexican Peso plummeted to fresh lows amid concerns of US automobile companies curtailing production capacity in Mexico.

Trump mentioned that he will be the biggest creator of jobs in American history, he also reiterated his aggressive stance on Mexico and China as far as trade is concerned. It seems the uncertainty over his policies will aggravate after he assumes power. Markets will eventually see a political impasse entailing muddled negotiations when Trump outlines his economic plans, invariably inviting opposition from stubborn US Congress. Meanwhile, World Bank stated that Donald Trump's plan to cut corporate and personal income taxes can provide a boost to the global economy, but there is a serious concern over the anti-trade sentiment. Prevalent backdrop is indisputably conducive for the yellow metal, with prices expected to extend the prevalent northward journey.

The government will issue IIP and CPI data for November and December on January 12 and WPI data on January 16.

Sun Pharma and DRL constitute to 55% of BSE healthcare fall

Even as Nifty hits crucial 8400 levels on Thursday in the first half hour of the session, the pharma stocks reel in red owing to the President-elect Donald Trump comments and the rhetoric of the pharma companies beefing up more profits than required for the benefit of the poor.
 
The major pharma companies in India that have exposure to US markets are reeling under pressure with companies like Sun Pharma and Dr Reddy laboratories (DRL) contributing most to the BSE healthcare downfall.
 
The BSE Healthcare Index is down by almost 182 points or 1.21% trading at 14940 levels.

Sun Pharma and DRL have contributed to almost 55% of the index fall. Sun Pharma is down by 1.89% trading at Rs 635 per share. DRL is trading at Rs 984 down by 2% in the first half hours of the day.
 
Other pharma stocks like Cipla, Natco Pharma, Dishman Pharma, Lyka Labs are also down by more than 2%.

Sensex, Nifty open in green on positive clues from global markets

At 9:15 AM, the BSE Sensex opened higher by 60 points at 27,201, while the Nifty50 opened higher by mere 10 points at 8,390 mark.

The Indian rupee opened higher by 17 paise against US Dollar at 68.15 per dollar versus 68.32 Wednesday.

Yen witnessed strong recovery against the greenback, as the differentials between US 10yr and Japanese bonds narrowed.

Conversely, Mexican Peso plummeted to fresh lows amid concerns of US automobile companies curtailing production capacity in Mexico.

Asian stock markets were mixed today, as US President-elect Donald Trump, at his first press conference after the elections, gave scant details on his likely policies.

Asian healthcare stocks fell in-line with losses in shares of drug-makers in the US, as Trump said pharmaceutical companies were "getting away with murder" by charging high prices.

Trump addressed issues from Russian hacking allegations to prices of drugs, there was a dearth of details on the timing and scope of policies from infrastructural spending to international trade pacts.
  
The strength in the yen against the dollar weighed on shares of major exporters in Japan, bringing the Nikkei 225 index down by nearly 1%.
  
Meanwhile, oil producing companies rose tracking gains in prices of crude oil as the dollar weakened, and on reports Saudi Arabia cut supply to Asia.
  
Meanwhile, Shanghai Composite is trading in green, South Korea’s Kospi index ​is ​at 2,078 points (up 0.16%) and Indonesia’s Jakarta Composite ​is ​at 5,316 points up (0.28%).

Taiwan’s Taiex at 9,416.47 points (up 0.75%), Singapore’s Straits Times at 3,010 points (up 0.31%), Hong Kong’s Hang Seng at 22,917.02 points (down 0.08%) and Singapore Nifty at 8,421 points (up 0.29%).

Wall Street ended higher after a volatile day on Wednesday led by gains in oil producing companies, as prices of crude oil surged on the back of a weak dollar and reports that Saudi Arabia cut some supply to Asia.

The Nasdaq composite fell after Trump made his remarks, as the iShares Nasdaq Biotechnology ETF (IBB) fell 3%. The tech-heavy index, however, ended the session 0.2% higher at a record closing level. The S&P 500 advanced 0.3%, shrugging off a 1% decline in health care.

Energy stocks led the way in the S&P, rising 1.2%. Nasdaq Composite index settled 0.21% up at 5,563.65. Dow Jones Industrial Average index closed 0.50% up at 19954.28.

European stocks closed higher on Wednesday as investors digested comments from Trump's first press conference.

Nifty shuts above 8,350 mark; Metal index lead

Closing Bell:

The Sensex climbed 0.9% or 241 points to 27,140 while the Nifty advanced 1% to 8,381. This was the 50-share index’s first close above the 8,300-mark since November 10.

Live Market:

The Indian stock market opened higher for second straight day to a two-month high on Wednesday. Sentiments remained bullish with Prime Minister Narendra Modi’s statement that India is on threshold of becoming most digitised economy in the world. 

IndusInd Bank rules the sectoral index i.e. BSE Bankex on Wednesday by gaining more than 4% on intraday basis. HDFC Bank and ICICI Bank are contributing heavily to the BSE Bankex which is up by 1.75% trading at 21,404 levels.

At 3:06 PM, the BSE Sensex surged by267 points at 27,166, while the Nifty50 is trading higher by 99 points at 8,387 mark.

The BSE Mid-cap Index was up by 1.46% at 12,630, whereas BSE Small-cap Index was up by 1.10% at 12,721.

IndusInd Bank, Hindalco, Coal India and Bank of Baroda were among the gainers, whereas Bajaj Auto, HCL Tech, RIL and ITC were among those losing sheen on NSE.

A total of 46 stocks registered a fresh 52-week high in trade today, while six stocks touched a new 52-week low on the NSE.

Out of 1,902 stocks traded on the NSE, 456 declined, 1,055 advanced and 391 remained unchanged today.

Some buying was observed in metal, Banking, media, financial services, FMCG and realty sectors, while IT stock showed weakness on NSE.

The INDIA VIX was down  3.4% at 14.68..

Nifty near 8,350 mark; IndusInd Bank, Hindalco top gainers

The Indian stock market opened higher for second straight day with the NIFTY reclaiming 8,300 mark. LT, Tata Steel, Coal India and Tata Motors are the other index stocks that are contributing positively to the Sensex gains.

In terms of percentage gains Tata Steel is the top gainer recording gains of 3.74% on intraday basis on Wednesday.

At 12:02 PM, the BSE Sensex surged by 150 points at 27,050, while the Nifty50 is trading higher by 55 points at 8,343 mark.

The BSE Mid-cap Index was up by 0.90% at 12,560, whereas BSE Small-cap Index was up by 0.87% at 12,693.

Tata Steel, Hindalco, IndusInd Bank, UltraTech Cements and Ambuja Cements were among the gainers, whereas Bajaj Auto, ITC, Bosch, Kotak Bank and TCS were among those losing sheen on NSE.

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

Out of 1,902 stocks traded on the NSE, 456 declined, 1,055 advanced and 391 remained unchanged today.

Some buying was observed in metal, Banking, media, financial services, FMCG and realty sectors, while IT stock showed weakness on NSE.

The INDIA VIX was down  3% at 14.75.

SUZLON ENERGY  rallied 3% after the company bagged an order for 226 MW wind power project in Andhra Pradesh. This was awarded by a leading IPP company.

Royal Orchid acquired 25% stake in arm Amartara Hospitality. The stock is trading higher by 8%.

Tata Consultancy Services Ltd is currently trading at Rs 2294.55, down by Rs 20.9 or 0.9% from its previous closing of Rs 2315.45 on the BSE. The IT Company will announce its Q3 results on Jan 12, 2017.

The stock of IPCA LABS, manufacturer and marketer of active pharmaceutical ingredients has surged owing to the news related to the remediation of its two formulation plants. The stock has surged as much as 6% in intraday trade where the stock has witnessed an impulsive upside.

With markets trading firm and trading in green housing finance companies are soaring on bourses by recording impressive gains. Tamil Nadu based Repco Homes is buzzing with gains of more than 4.5% on Wednesday’s session. DHFL is up by more than 3%, GRUH finance is up by more than 2.4% whereas India bulls housing finance is up by more than 2%.
 
Along with the housing finance companies other finance companies such as Shri Ram Transport Finance is up by more than 3% and Mannapuram Finance is up by more than 2.8%.
 
Market is recovering from the demonetisation blues after it was widely expected that the harsh policy decision on monetary front by banning Rs 500 and Rs 1000 notes will have a negative impact on the health of the Indian economy.

ABB is down by 2.76% or 33.50 points, even as sensex crosses 27,000 mark and trades at its two month highs. ABB was in news for bagging a contract in consortium with BHEL of Rs 5,700 crore. ABB will be enjoying a lion share in the project which is expected to be at Rs 4,350 crore. The prestigious project is expected to provide electircity to more than 80 million people.

Road and Highway developer, MEP INFRASTRUCTURE DEVELOPERS has announced that its subsidiary has entered into a concession agreement with National Highway Authority of India (NHAI). The stock is trading 2.7% higher on the BSE.

FORTIS HEALTHCARE the hospital chain owned by the duo, Malvinder and Shivinder Singh is yet again in the news. The stock on January 11 has reached a new 52- week high. It has witnessed a spurt in volumes by more than 2.67 times. 

Nifty Metal is Wednesday's leading index across sectoral indices. Nifty Metal opened today at 2855.20, gaining 0.75%. It is currently trading up by 2.84%. Following are the top stocks from Metal sector today: JSW Steel has touched its 52-week high today at Rs 191.15, gaining 7.11%. Gujarat based, large diametre pipes manufacturer, Welspun Corporation is also in focus today. Welspun has gained 0.6% at the time of opening. It is currently trading up by 1.85% at Rs 82.65.

India’s largest manufacturer of Auto-grade steel, Bhushan Steel Limited has touched high of Rs 45.65, gaining 7.28%. The company’s revenues have been growing at an average rate of 5% over the last five years.
 
STEEL AUTHORITY OF INDIA LIMITED (SAIL) has touched a high of Rs 55.45, gaining 4.92%. The stock is near its 52-week high of Rs 56.10. It is currently trading up by 3.88%. SAIL has witnessed spurt in volumes by 1.02 times. Its revenues has grown at an average of 10% over the last five quarters.

HIND RECTIFIERS which is into manufacturing and developing semi-conductor devices has made a strong opening. The stock has witnessed a spurt in volumes by more than 1.53 times. The surge in the stock of the company is largely due to the right issue plans of the board of directors. The company will bring in issue of equity shares of FV Rs 2 each via a right issue to the existing equity shareholders.

The steel stocks are soaring on bourses with JSW steel gaining more than 5% and TATA STEEL by more than 3% in the opening session of the markets even as the broader markets cheer the broad-based rally on Wednesday. The steel stocks are in positive trend owing to the reports that in China all steel companies will be closing their medium frequency furnaces which is 9% of the steel capacity. The steel stocks have been in positive momentum since last year with JSW steel gaining almost 85% since last year. Over past one week the stock has sizzled 14% and the over one month the stock is up by 16%.

Voltamp Rectifier is gaining on bourses even as the broad-based rally continues in the market today continuing the momentum from yesterday’s trade.

INDUSIND BANK rallied 4.4%. The net profit of the Bank has come in at Rs 750.64 crore as against Rs 704.26 crore in September 2016 quarter; and Rs 581.02 crore in the corresponding quarter of the previous year.

TATA MOTORS is trading flat on the BSE. The company reported a 4% increase in global sales in December at 95,081 units, including that of Jaguar Land Rover (JLR) vehicles.

SHIVA CEMENT LTD is currently trading at Rs 13.55, up by Rs 0.47 or 3.59% from its previous closing of Rs 13.08 on the BSE after the promoters decide to sell their entire holding to JSW Cement.

SOUTH INDIAN BANK zoomed 2%. The bank will announce its Q3 numbers today.

CHEMBOND CHEMICALS  advanced 1.6%. Chembond Chemicals entered into a share purchase agreement for acquisition of additional 49% stake in joint venture company in Malaysia.

glenmark pharma inched up 1%. The company is expecting a revenue growth of 15-20 per cent CAGR over the next 5 years.

Ess Dee Aluminium gained 2% after the company gets notice from State Bank of India to discharge liabilities.


ENDURANCE TECHNOLOGIES surged 4% after the company’s German unit Endurance Amann GmbH has commenced operations at its new machining plant from January 10.

Asian markets traded in the positive as rally in base metals and oil prices declining below $ 51 sent stock prices higher. Chinese producer prices in December recorded their fastest growth in five years, propelling gains in industrial metals and other raw materials, on hopes the world's second-largest economy will lead to a growth in global inflation through its supply chains.

Investors now await US President-elect Donald Trump's speech later today for clues to his tax and international trade policies.

Oil producing companies posted losses as prices of crude oil remained weak following a 2% fall on Tuesday, on mounting doubts that major oil producing nations may not be able to sustain the deal to cut output.

The Indian rupee opened weaker by eight paise against US Dollar at 68.25 per dollar versus 68.18 Tuesday. US dollar held steady ahead of US president-elect Donald Trump's first news conference set for today, while the Mexican peso hit a record low. Pound hit a ten-week low of $1.21, as British PM is expected to unveil her plans for Brexit in the next few weeks.

Sensex rallies over 100 points

At 9:15 AM, the BSE Sensex opened higher by 133 points at 27,033, while the Nifty50 opened higher by 36 points at 8,325 mark.

The Indian rupee opened weaker by eight paise against US Dollar at 68.25 per dollar versus 68.18 Tuesday. US dollar held steady ahead of US president-elect Donald Trump's first news conference set for today, while the Mexican peso hit a record low. Pound hit a ten-week low of $1.21, as British PM is expected to unveil her plans for Brexit in the next few weeks.

Market focus is accentuated on US President elect Donald Trump’s press conference today and next week’s inaugural address. 

US markets remained subdued where investors awaited start off earnings season and a news conference from President Donald Trump to be held on January 11. S&P 500 closed flat at 2268.9 levels as fall in oil offset the advance in healthcare stocks.

Dow closed marginally lower by 0.16%. However, Nasdaq maintained its winning spree and reported its 4th record close, gaining 0.36% intraday.  

European markets closed mostly higher, where UK’s FTSE 100 broke a new record, closing 0.52% up. This was driven by a rally in mining stocks and British Pound devaluation. France's CAC 40 remained flat; and Germany's DAX closed 0.17% up with hopes that Germany's economy would expand 1.5% in 2017.

Asian markets started off Wednesday's session on a positive note, ahead of Donald Trump’s first full-fledged press conference after election. Moreover, base metals remained strongly up driven by buoyant Producers Price Inflation (PPI) data from China. Nikkei 225 is 0.29% up, Hang Seng has surged 0.69%; while Shanghai Composite is flat.

Nifty may open flat to positive; 8300 breakout must for further optimism

Indian markets bounced back after snapping two days’ losses to close higher by 0.65%.
 
Barring Realty that closed marginally lower, all other sectors ended in green, where Metal and Auto led the move, all thanks to a 3% rally in heavy weights Hindalco and Tata Motors. Broader markets outshined rising in the range of 0.7-0.8%.
 
US markets remained subdued where investors awaited start off earnings season and a news conference from President Donald Trump to be held on January 11. S&P 500 closed flat at 2268.9 levels as fall in oil offset the advance in healthcare stocks.
 
Dow closed marginally lower by 0.16%. However, Nasdaq maintained its winning spree and reported its 4th record close, gaining 0.36% intraday.   
 
European markets closed mostly higher, where UK’s FTSE 100 broke a new record, closing 0.52% up. This was driven by a rally in mining stocks and British Pound devaluation. France's CAC 40 remained flat; and Germany's DAX closed 0.17% up with hopes that Germany's economy would expand 1.5% in 2017.
 
Asian markets started off Wednesday's session on a positive note, ahead of Donald Trump’s first full-fledged press conference after election. Moreover, base metals remained strongly up driven by buoyant Producers Price Inflation (PPI) data from China. Nikkei 225 is 0.29% up, Hang Seng has surged 0.69%; while Shanghai Composite is flat.
 
SGX Nifty is trading stronger by 0.37% gains at 8328.5 levels.
 
We have Banco India and South Indian Bank results to be watched out today.
 
Nifty may open on a flat to positive note and if it breaks out of 8300 mark, which is its crucial resistance level, we may see another rally of up to 8350 followed by 8380 on the upside.

Markets wash-off two days losses, Nifty closes near 8300 levels

Indian benchmark indices snapped two days losing streak and closed at two months high.
 
Post the sideways movement till the afternoon session Indian markets broke out in the concluding half an hour where Niftyand Sensex closed 0.65% up at 8289 and 26900 levels respectively.
 
Broader markets maintained outperformance where midcap and small cap indices closed 0.8% and 0.7% higher. Market bias remained positive with 1662 advances and 1151 declines.
 
BSE Metal and BSE Industrials were the top performers with the indices gaining by 1.42% and 1.57%.
 
PSU Bank Index gained impressively even as all sectoral indices close in green indicating a broad-based rally in markets today
 
BSE consumer durables and BSE Auto were the other sectoral index that gained more than 1% on Tuesday.
 
Tata motors, Adani Ports, Tata Steel, Asian Paints, HDFC Bank, GAIL, ICICI Bank and Hero moto Corps were the stocks that gained more than 1% in today’s session. Tata Motors and Adani Ports were the top performers clocking more than 3% gains each.
 
Nifty traded near 8294 levels and closed just below the crucial level at 8289. Nifty has managed to close above its 200 days EMA at 8242.
 
Going forward the immediate resistance at 8298-8300 levels remain intact which is also its 100 days EMA level. On the downside 8260 followed by 8228 will act as the immediate supports for now.

Buzzing Stocks:
 
IndusInd bank: The stock traded volatile owing to the results declared on Tuesday. The other income was up by 21% at Rs 1,017 crore, Net profit is up by 29% and NII is up at 34% The Gross NPAs were up at 0.94% vs 0.90% (YoY)
 
MRF/ CEAT/ Apollo Tyres/ JK Tyres: Tyres stocks sizzled on bourses in the second half of the day closer to the market closing hour. The stocks gained in the range of 3.8% to 6%.

Tata Motors: The stock was the highest gainer in Sensex today.

BEL: The stock gained momentum once the reports came out of the stocks going to be split on January 27.

ABB: The stock was in news today as the company is expected to team up with Power grid for a project worth over 4350 Crore.

Sensex gains 100 points; BPCL and ONGC up

With the finance minister waxing eloquently about rising tax mop-ups of any anecdotal evidence of slow growth should be laid to rest for now. Direct tax collections rose 12% while indirect tax revenue grew was up 25%. Tax buoyancy, which slumped to 0.71 under the earlier government, has improved to 1.23 in FY15 and 1.35 in FY16, a report stated. Prime Minister Narendra Modi will inaugurate the biennial Vibrant Gujarat Global Summit 2017 today. The earnings season kicks off with IndusInd Bank announcing its numbers.

Asian indices opened flat with further consolidation as US stocks lost ground on fresh brexit worries over UK's trading role with Europe. This saw safe haven buying in US$, gold and bonds while oil prices dropped sharply. With 20000 being the near term target on the Dow Jones profit booking around these pivot levels could see some more consolidation before the Trump swearing in later this month.

At 9:45 AM, the S&P BSE Sensex is trading at 26841 up 115 points, while NSE Nifty is trading at 8268 up 33 points. A total of 21 stocks registered a fresh 52-week high in trade today, while 3 stocks touched a new 52-week low on the NSE.

Out of 1896 stocks traded on the NSE, 426 declined, 1033 advanced and 437 remained unchanged today.

The BSE Mid-cap Index is trading up 0.47% at 12408, whereas BSE Small-cap Index is trading up 0.46% at 12553.

Some buying activity is observed in Oil & Gas, Metal, Auto, while Telecom, Realty, Telecommunications are showing weakness on BSE.

BPCL, ONGC, Hindalco, Tata Steel, Tata Motors, Tata Motors DVR, GAIL, Reliance, M&M, Adain Ports are among the gainers, whereas Axis Bank, Tech Mahindra, Sun Pharma, IndusInd bank, Bank of Baroda, TCS, Asian Paints, Ambuja Cement, ACC, Yes Bank are losing sheen on NSE.

The INDIA VIX is down 1.43% at 15.25.

Buzzing Stocks:

Tata Elxsi shares up 1.7% on order win from China.

Madras Fertilisers shares up 2.5% as the company resumed operations of its manufacturing plant.

Ajanta Pharma shares up 2% on USFDA approves Cymbalta generic.

Engineers India shares up 4% on Rs 2500 crore order from HPCL.

Jaiprakash Power Ventures has sought its shareholders' nod, through postal and electronic ballot, to convert part of its outstanding debt of Rs 30.58 bn into 3.06bn equity shares. 

Divis Laboratories has filed a detailed response within the permitted time to the observations made by the US health regulator after inspection of the drug firm’s manufacturing plant at Visakhapatnam in Andhra Pradesh.

Oil and Natural Gas Corporation (ONGC) is close to finalising ways to complete its USD800mn projects stuck midway after the contractor, Singapore’s Swiber Holdings Ltd, collapsed last year following an oil slump.

A set of critical observations issued by Portuguese drug regulator on Granules India's Gagillapur unit near Hyderabad that manufactures pharmaceutical formulation intermediates (PFIs) and finished dosages (FDs).

The Centre is seeking a higher dividend on the back of IOC, HPCL and BPCL reporting much higher profits in the first half of this fiscal, as well as improved earnings per share.

Markets may open flat to negative; may witness recovery later

The Indian benchmark indices kicked off the week on a very sluggish note and closed the rangebound session on a marginally lower note. Nifty and Sensex ended 0.09% and 0.12% lower, respectivley, sans immediate triggers for the markets. Now all eyes are on the December quarter earnings and macro economic data. Pharma’s Dr. Reddy's dragged the sector and thereby the markets, while IT witnessed short covering and closed higher.

US markets witnessed profit booking from their all time high levels, wherein Dow failed to cross its 20000 mark and closed down at 19887 as investors remained worried over the earnings season. S&P 500 too slipped 0.4%, weighed by a decline in oil and financial stocks. However, the Nasdaq rose 0.2% hitting an intraday record high, driven by healthcare stocks and recovery in the IT stocks.

Most of the European bourses closed lower in the wake of disappointing earnings report from heavyweights like Deutsche Lufthansa and William Hill and a retract in oil prices. Moreover, the Pound devaluated after UK president cued hardships for UK ahead, after parting from the EU. France's CAC 40 remained down 0.45%; and Germany's DAX was 0.3% down. However, FTSE 100 remained up 0.38%.

Asian equities started off  theweek on a mixed note where Shanghai Composite and Nikkei 225 remained marginally down while Hang Seng remained up. Going forward Asian markets may remain subdued owing to a decline in oil prices due to a supply glut, and Pound depreciation on worries about a  tough life post Brexit.

We have IndusInd Bank's results to be released today which may drive the markets. Moreover, SGX Nifty is trading a bit higher at 8264 with 0.2% gains. However, the global bourses have somewhat failed to cheer the sentiments in the last trading session. On the domestic front, the government has also cued towards extending the capital gains  tax exemption upto 3 years from the present 1 year, keeping tax relief as it is for long term gains. Markets may start on a flat to negative note but may recover in case of positive intraday triggers.