Sensex ends 48 points higher; FMCG, Banking stocks lead

The benchmark equity indices closed higher as banks recovered from the previous session's losses on hopes of a pickup in credit growth following cuts in lending rates. While the indices fluctuated between gains and losses through the session, the market breadth remained firmly in favour of the buyers.

Finally, the BSE Sensex ended with a gain of 48 points at 26,643. It opened at 26,616, touched an intra-day high of 26,724 and low of 26,488.

The NSE  NIFTY closed with a gain of 13 points at 8,192. It opened at 8,196, hit a intra day high of 8,219 and low of 8,149.

Sentiments got some support after Union Finance Minister Arun Jaitley expressed hope that Goods and Services Tax (GST) will be implemented in 2017 and a digitised economy will be the future of India. However, gains were limited after a government report showed that Core sector output in the month of November slowed down to 4.9% from 6.6% in October and 5.01% in September, mainly due to decline in production of crude oil and natural gas.

Meanwhile, investors keeping an eye on the GST Council meeting, to arrive at a consensus on contentious issues, including dual administrative control and inter-state supply.

On the economy front, the next Parliament session is likely to start early from January 31 so that the Budget can be presented on February 1, after a meeting of Cabinet Committee on Political Affairs (CCPA).

Asian stocks began 2017 on a mixed note after most regional markets reopened post the New Year holiday. China's Caixin Manufacturing Purchasing Managers' index (PMI) rose 51.9, compared to 50.9 in November on the back of increased demand. China's Shanghai Composite and Hong Kong's Hang Seng index also added 1% and 0.6%, respectively, while Japan was closed for an extended New Year holiday.

European stocks rose on Tuesday. The FTSE 100 and DAX have gained 0.5% each, while the CAC 40 is up 0.54%.

Some buying is observed in media, banking, metal, FMCG and financial services sectors while IT and auto stocks are showing weakness on NSE. The mid-cap and smallcap stocks representative indices on the BSE surged by 0.6% and 1% respectively.

Among the 50 stocks of the Nifty, Power Grid, Coal India, BHEL, Yes Bank, Axis Bank, Zee, Gail and ICICI Bank were among the gainers, whereas Bharti Airtel, Idea Cellular, Hero MotoCorp, Tata Motors, UltraTech Cement and Bosch were among the losers today.

The India VIX (Volatility) index was up 0.8% to 15.96. Out of 1,893 stocks traded on the NSE, 483 declined and 1,135 advanced today.

The rupee was trading down by 8 paise at 68.30 per US dollar.

Hero MotoCorp slipped 1.4% on the BSE. The company sold a record 67,62,980 units of two-wheelers in the period January-December 2016, translating into a growth of 4.3% over the previous calendar year (2015) when the company had sold 64,86,103 two-wheeler units.

Bajaj Hindusthan Sugar gained 2.2%. The company said that its board, at its meeting held January 2, considered seeking necessary approval of shareholders by way of postal ballot for sale of co-generation business comprising of power generation facility aggregating to 449 MW, in a BSE Filing.

Aban Offshore rose 4.6%. The company announced the completion of sale of 59% equity shares held by Aban Offshore in Aban Green Power and Radhapuram Wintech - subsidiaries of Aban Offshore. The company also completed the transaction for acquisition of 49% equity shares in Aban Drilling Services.

Titan Company zoomed 4.5% on the BSE. The company said that Q3 December 2016 started off on a high of the festive season and long awaited resurgence of the consumer sentiment.

Infosys fell 1% Rs 995 on the BSE. The recent correction in Infosys was led by Chief, Vishal Sikka’s first address of calendar year 2017, wherein he cued towards the difficulties the company would face in automation going forward and cautioned the employees against lacklustre attitude displayed by them. He expects employees to work beyond their scope to deliver the tasks.

A total of 32 stocks registered a fresh 52-week high in trade today, whereas seven stocks touched a new 52-week low on the NSE.

Sensex, Nifty rally; Railway stocks gain

The Indian stock market declined for a second time in as many sessions as investors sold shares of automakers, lenders and technology companies. The NIFTY came under pressure as it approached its crucial resistance level of 8,200, weighed down by losses in IT, banks, and auto stocks. 

At 12:18 PM, the S&P BSE SENSEX is trading at 26,620 up 25 points, while NSE Nifty is trading at 8,208 up 29 points.

The BSE Mid-cap Index is trading up 0.51% at 12,193, whereas BSE Small-cap Index is trading up 0.79% at 12,287.

Power Grid, Tata Motors, Hindalco, Tata Motor DVR and Tata Power are among the gainers, whereas Bank of Baroda, Hero MotoCorp, Infosys, Wipro and SBI are losing sheen on NSE.

A total of 27 stocks registered a fresh 52-week high in trade today, while six stocks touched a new 52-week low on the NSE.

Out of 1,892 stocks traded on the NSE, 368 declined, 1,200 advanced and 324 remained unchanged today.

Some buying is observed in banking, metal, media and financial services sectors while IT and auto stocks are showing weakness on NSE.

The INDIA VIX is up 0.63% at 15.93.

Hero MotoCorp fell 1% after the company reported 34% decline in its December sales to 3.30 lakh units against 4.99 lakh units a year ago.

MEP Infrastructure Developers Limited has received Letter of Approval (LoA) from National Highways Authority of India (NHAI) for the collection of user fee for ‘BRIJGHAT FEE PLAZA’ at 88.5 for the section from 58 km to 93 km (Hapur-Garhmuketeshwar Section) of National Highway No. 24 in the state of Uttar Pradesh. The stock is trading 4% higher on the BSE.

Sugar stocks are trading higher for the third straight trading session. ICRA believes that domestic sugar consumption is likely to outpace domestic production for the second successive year in FY2017, given the lower sugar production in the major states of Maharashtra and Karnataka.

Dwarikesh Sugar Industries Ltd is currently trading at Rs 354.85, up by Rs 6.35 or 1.82% from its previous closing of Rs 348.5 on the BSE. The scrip opened at Rs 351.9 and has touched a high and low of Rs 364.5 and Rs 349.15 respectively. So far 1092942(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 656.23 crore.

Dalmia Bharat Sugar & Industries Ltd is currently trading at Rs 145, down by Rs 2.25 or 1.53% from its previous closing of Rs 147.25 on the BSE. The scrip opened at Rs 149.4 and has touched a high and low of Rs 151.8 and Rs 143.55 respectively. So far 312451 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1191.99 crore.

Bajaj Hindusthan Sugar Ltd is currently trading at Rs 15.24, up by Rs 0.46 or 3.11% from its previous closing of Rs 14.78 on the BSE. The scrip opened at Rs 15 and has touched a high and low of Rs 15.39 and Rs 15 respectively. So far 2781618 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1675.4 crore.

Banks stocks are expected to be under pressure in 2017 for several reasons beyond NPAs. The fact that they are over owned is one the reasons the Banking stocks may face some pressure.

However the Banking stocks across the board are gaining in Tuesday’s session.

Yes bank, Axis Bank, Canara Bank, PNB, Indusind Bank and ICICI Bank are all up in the first half of the trading session.

Banking stocks are the flag  bearers of  the recovery in the markets, which are struggling to inch up in the green and stay there.

The Bank Nifty is trading above crucial 18000 levels and is trading in green, up by about 0.51%.

HDFC Bank is the only bank in the Bank Nifty basket that is trading in red, down by almost 0.27%.

Yes Bank is the best gainer in the lot, trading up by more than 2 per cent on an intraday basis.

Gokaldas Exports Ltd is currently trading at Rs 68.45, up by Rs 3.7 or 5.71% from its previous closing of Rs 64.75 on the BSE. The stock rallied for sixth straight day and jumped over 15% in the last 5 tradings sessions.

Panacea Biotec, one of India’s leading research based Biotechnology company, has ensured increased availability of the life saving drug, Cilamin 250 (D-Penicillamine IP 250 mg) capsules for the treatment of Wilson’s disease in India. The stock rallied 7%.

Opening Bell - Sensex, Nifty flat in early trade

At 9:15 AM, the S&P BSE Sensex is trading at 26,617 up 22 points, while NSE Nifty is trading at 8,184 up mere five points.

India’s core infrastructure sectors during grew 4.9% (yoy) in November, which again was slower than the 6.6% in the previous month. The lower base effect, improvement in coal output and rise in electricity generation kept the numbers healthy for now. On the bourses, the banking index fell over a percent on concerns that a cut in lending rates would hurt their bottom lines. Auto stocks swung to their December sales beat with Bajaj Auto falling and Maruti and M&M rising on better numbers.

Crude has clocked in some gains. The rupee may remain under pressure. Bitcoin rose above $1,000 for the first time in three years.

Asian indices opened positive as the 1st day of New Year trade saw optimism across the board as strong data overnight from Europe saw indices hit new highs. With most Asian indices ex Japan under performing in the last 2 months the pull back could be sharper than expected. Bond yields softened while both oil & US$ rose indicating the risk on trade is back.

Nifty holds 8,150 mark

The Indian stock markets opened on a subdued note on the first trading day of 2017, with profit-booking after recent gains. The stock markets displayed subdued investor sentiment owing to profit booking and rupee depreciation.

The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, fell to 49.6 in December from November's 52.3. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

Realty companies were in demand after Prime Minister Narendra Modi on December 31 announced that loans of up to Rs 9 lakh taken in the new year under the new scheme of Pradhan Mantri Awas Yojana will receive interest subvention of 4 per cent and loan of up to Rs 12 lakh will get a 3 per cent interest waiver.

Selling pressure was witnessed in banking, financial services, FMCG and IT stocks, while realty, auto, metal, media and pharma were among the gainers.

Among the 50-stocks of NIFTY, Ambuja Cement, UltraTech Cement, Tata Steel, M&M, Eicher Motors, Tata Motors DVR, Tata Motors, Hindalco and Maruti Suzuki were among the gainers on NSE, whereas HDFC, Bank of Baroda, SBI, IndusInd Bank, ICICI Bank and Bajaj Auto were among the losers today.

Finally, the BSE Sensex ended with a loss of 31 points at 26,595. The BSE Sensex opened at 26,711 touched an intra-day high of 26,721 and low of 26,447.

The NSE Nifty closed with a loss of a mere six points at 8,180. The NSE Nifty opened at 8,210 hitting a high of 8,212 and low of 8,134.

The India VIX (Volatility) index was up 2.36% at 15.83. Out of 1,903 stocks traded on the NSE, 417 declined and 1,194 advanced today.

The rupee was trading down 16 paise at 68.07 per US dollar.

On the global front, Asian markets closed flat. Japan’s Nikkei closed in red. Hong Kong’s Hang Seng  and China’s Shanghai Composite ended higher.

After a weak start, European indices rebounded and Germany's DAX index touched its highest level since August 2015. Trading volumes, though, were low as markets in the UK and several other countries were closed for New Year holidays. France's CAC-40 touched a 52-week high of 4879.24 points.

Bajaj Auto Ltd fell 1.4% to Rs 2,597 after the company reported a 22% decline in its December monthly sales to 2.25 lakh units from 2.89 lakh units last year same month.

Transformers and Rectifiers India jumped 5.3% to Rs 356 after the company said it got orders worth Rs 92 crore from Gujarat Energy Transmission Corporation.

Bombay Dyeing rose 3% to Rs 49 after the company said it has inked an agreement for sale of land, building and some machinery of Ranjangaon unit at an aggregate value of Rs 174.45 crore.

A total of 19 stocks registered a fresh 52-week high in trade today, whereas 16 stocks touched a new 52-week low on the NSE.

Sensex, Nifty volatile; Eicher Motors, Tata Steel up

The Indian stock markets open on a positive note but later pared gains to turn red on Monday. The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, fell to 49.6 in December from November's 52.3. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

At 1:55 PM, the S&P BSE Sensex is trading at 26,609 down 17 points, while NSE NIFTY is trading at 8,180 down mere down five points.

The BSE Mid-cap Index is trading up 0.53% at 12,095, whereas BSE Small-cap Index is trading up 0.96% at 12,161.

Eicher Motors, UltraTech Cement, Ambuja Cements, ACC and BHEL are among the gainers, whereas HDFC, SBI, Bajaj Auto, Bank of Baroda, ICICI Bank are losing sheen on NSE.

A total of 15 stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Out of 1,901 stocks traded on the NSE, 555 declined, 955 advanced and 391 remained unchanged today.

Some buying is observed in realty, media, metal, auto and pharma sectors while financial services, IT, Bank Nifty, FMCG are showing weakness on NSE.

The INDIA VIX is up 3.89% at 16.0675.

Nifty trades below 8,150 mark

he Indian stock markets open on a positive note but later pared gains to turn red on Monday. The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, fell to 49.6 in December from November's 52.3. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

At 10:49 AM, the S&P BSE Sensex is trading at 26,458 down 168 points, while NSE NIFTY is trading at 8,147 down 38 points.

The BSE Mid-cap Index is trading up 0.06% at 12,038, whereas BSE Small-cap Index is trading up 0.52% at 12,109.

Eicher Motors, UltraTech Cement, Ambuja Cements, ACC and BHEL are among the gainers, whereas HDFC, SBI, Bajaj Auto, Bank of Baroda, ICICI Bank are losing sheen on NSE.

A total of 12 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE.

Out of 1,901 stocks traded on the NSE, 555 declined, 955 advanced and 391 remained unchanged today.

Some buying is observed in realty, media, metal and pharma sectors while financial services, IT, Bank Nifty, FMCG and auto showing weakness on NSE.

The INDIA VIX is up 4.63% at 16.1825.

Realty stocks rallied after Prime Minister Narendra Modi announced sops for low-cost housing on New Year’s eve. The BSE Realty index gained as much as 2.68 percent while stocks like Unitech (up 5.5%), HDIL (up 3.8%), and DLF (up 3.5%) led the gains.

Asian indices opened in the green with most markets still in holiday mode. The retracement of the US$ saw currency gains for most countries which prompted buying in equities. Financials, materials & infra stocks gained with gold & oil prices seeing profit booking

After a year of negligible gains for the Indian equity market, 2017 starts on hopes that this year will be better in many aspects. During the year, the Nifty hit a low of 6826 in Feb 2016 then surged to 8969 in September 2016. Then came a plethora of concerns which reduced the risk appetite for emerging markets. Trump's US presidential victory, strengthening of US Dollar and the demonetization drive dominated the headlines towards the end of the year.

The much-awaited New Year's address by Prime Minister Narendra Modi saw a slew of initiatives being announced which focused on the rural segment, small businesses, women and the banking sector.

The PM highlighted a stark reality that a mere 24 lakh Indians had declared that they had an annual income of above Rs 10 lakhs.
Bank stocks will be in focus after leading lenders announced a cut in loan rates. Profit booking is expected at higher levels later in the day unless global markets keep the momentum going.

The Indian economy remains one of the fastest growing economies as it grew 7.2% in the first half of the current fiscal.

Nifty shuts above 8,150 mark; FMCG, Realty stocks lead

The Indian stock market ended with smart gains on Friday as investors sentiments were buoyed by rupee appreciation. U.S. dollar weakened, while crude oil prices rebounded in Asian trade.

The buying was so fierce that not a single sectoral index on the NSE ended with losses; FMCG, realty, pharma, IT, banking, media, financial services and auto stocks ended among the top gainers. Even the mid-cap and the small-cap stocks participated in today’s rally. 

The BSE Sensex ended with a gain of 260 points at 26,626. The benchmark indices opened at 26,442 touched an intra-day high of 26,678 and low of 26,407.

The NSE Nifty closed 82 points higher at 8,186 points. It opened at 8,120 points, hitting a high of 8,197 and low of 8,115.

Sentiment was optimistic after Finance Minister Arun Jaitley said that the effect of note ban is evidently visible with the country’s tax collection figures revealing double-digit growth. Jaitley highlighted that till November 30, there has been a 26.2% rise in central indirect tax collection and till December 19, direct tax collection has risen by 14.4%. Besides, appreciation in Indian rupee against the dollar has also supported the sentiment.

The Nifty Pharma index declined over 14% in 2016 as several companies failed to meet the US Food and Drug Administration's quality standards. The index had gained 34% in the last three years, while over the last five years, it had surged 125%.
  
Of the five pharmaceutical stocks that are both on the Nifty 50 and Nifty Pharma, the shares of Aurobindo Pharma and Sun Pharmaceutical Industries declined 24% each in 2016. While shares of Lupin declined 19%, those of Cipla fell 12% and Dr. Reddy's Laboratories fell nearly 2% in 2016.

The Nifty PSU Bank index closed higher by 1.14% despite the Reserve Bank of India’s warning that the bad loans of state run banks may surge up to 10.1% by March 2018. The Nifty PSU Bank index is trading up 1.2% at 2,984. The Nifty PSU Bank index opened at 2,951 and hit a high of 3,002 and a low of 2,946.

Among the 50-stocks of Nifty, Aurobindo Pharma, Bosch, GAIL, Sun Pharma, ITC, Power Grid and Grasim gained on NSE, whereas BPCL, Bajaj Auto, ONGC, Tata Steel, Dr. Reddy's, Tata Motors and HDFC Bank closed with losses.

The India VIX (Volatility) index was up 1.19% at 15.46. The BSE Midcap and Smallcap indices gained over 1% each. Out of 1,539 stocks traded on the NSE, 414 declined and 941 advanced today.

The rupee was trading up19 paise at 67.90 per US dollar.

On the global front, Asian markets closed mostly in green on Friday, the last trading day of 2016, despite the modest losses posted overnight on Wall Street. The Shanghai Composite index was up 0.24% and Hong Kong’s Hang Seng index closed higher by 1%. Nikkei 225 ended lower.

In Europe, the FTSE 100 is trading in red. CAC 40 and DAX are trading down by 0.2% each.

Aurobindo Pharma zoomed 3.2% after the company received US Food and Drug Administration's (USFDA) approval for two of its generic drugs, following which the company stocks gained positive traction.

Engineers India fell 9.8% on the BSE after the stock turned ex bonus. The company announced that the shareholders of the company will get one free share for one held.

L&T Finance Holdings rallied 3% on the BSE after Harsh Mariwala bought 46,000 shares in the company.

Havells India gained 4.5% to Rs 339.25 on the BSE. Around 2.2 million shares of the company changed hands in a single block deal.

Sugar stocks gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10%.

Jagran Prakashan rallied 3.4% to Rs 179.85 after the company said the meeting of the board of directors is scheduled to be held on Jan 5,  2017 to consider the proposal for buyback of shares.

RS Software climbed 2%. RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.

GE Power India soared 5.3% after the company announced that it has received contracts worth $40 million by Bharat Heavy Electricals to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III. Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the goverment.

Golden Tobacco closed on a flat note. Golden Tobacco Ltd said that it has received notice from a consortium of banks led by Canara Bank for one of its properties situated at Guntur.

IFCI slipped 3%. Term lender IFCI on Thursday said it has proposed to sell around 0.8% stake in National Stock Exchange (NSE).

A total of 12 stocks registered a fresh 52-week high in trade today, whereas 13 stocks touched a new 52-week low on the NSE.

Sensex jumps over 250 points; Aurobindo Pharma, ITC up

The Indian stock markets with the benchmarks advancing to their highest level in two-weeks. Nifty50 hits 8,150 mark on Friday. Market sentiment was also boosted after Finance Minister Arun Jaitley said that government tax collection has gone up sharply, belying fears of sharp slowdown in the economy.

At 12:27 PM, the S&P BSE Sensex is trading at 26,593 up 227 points, while NSE Nifty is trading at 8,170 up 66 points.

The BSE Mid-cap Index is trading up 1.16% at 12,043, whereas BSE Small-cap Index is trading up 1.02% at 12,076.

Aurobindo Pharma, ICICI Bank, BHEL, ITC and Grasim are among the gainers, whereas BPCL, Bharti Airtel, Bharti Infratel, Tata Motors and HDFC Bank are losing sheen on NSE.

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

Out of 1,889 stocks traded on the NSE, 288 declined, 1,262 advanced and 339 remained unchanged today.

Some buying is observed in industrial, financial services, IT, banking, metal, power, realty and auto sectors while telecom is showing weakness on BSE.

The INDIA VIX is down 0.06% at 15.2725.

Aurobindo Pharma zoomed 2.7% after the company has received US Food and Drug Administration's (USFDA) approval for two of its generic drugs, following which the company stocks gained positive traction.

Havells India gained 3.4% to Rs 339.25 on the BSE. Around 2.2 million shares of the company changed hands in a single block deal.

The Nifty PSU Bank index was trading higher by 1.52% despite the Reserve Bank of India’s warning that the bad loans of state run banks may surge up to 10.1% by March 2018. Oriental Bank of Commerce is up 3.8% led the gains along with Allahabad Bank and Union Bank of India.

Sugar stocks gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10%.

Tree House Education surged 5% to Rs 18.25 after the company informed exchanges that a meeting of the board of director is scheduled to be held on Friday to consider and approve appointment of Suraj Manghnani as an additional independent non-executive director.

Jagran Prakashan rallied 4% to Rs 179.85 after the company said the meeting of the board of directors is scheduled to be held on Jan 5, to consider the proposal for buyback of shares.

Tata Power gained 1.2%. Mehli Mistry, the promoter of M Pallonji and Co, has acquired 2.57 crore shares of Tata Power, in what's seen as a bid to counter cousin Cyrus Mistry, the ousted chairman of Tata Sons.

SBT rose 2% after the bank has revised the Marginal Cost of Funds based Lending Rate (MCLR) to be effective from January 1, 2017.

Lakshmi Vilas Bank inched up 1%. Lakshmi Vilas Bank has launched Qualified Institutional Placement (QIP) to raise over Rs599.88 crore by issuing 4.25 crore shares in domestic or international markets.

RS Software climbed 3%. RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.

Petronet LNG is trading higher by 1%. Petrobangla on Thursday signed an initial agreement with Petronet to set up an LNG re-gasification terminal on Kutubdia Island and a pipeline at an estimated cost of $950 million. Petrobangla is a government-owned oil company of Bangladesh, as per media reports.

GE Power India soared 6% after the company announced that it has received contracts worth $40 million by Bharat Heavy Electricals to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III. Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the goverment.

Golden Tobacco gained 2.6%. Golden Tobacco Ltd said that it has received notice from consortium of banks led by Canara Bank for one of its property situated at Guntur.

IFCI slipped 2.3%. Term lender IFCI on Thursday said it has proposed to sell around 0.8% stake in National Stock Exchange (NSE).

BHEL advanced 1.4%. The company has successfully commissioned another 600mw coal-based thermal power plant in Telangana. 

STEEL STRIPS WHEEL LTD  is currently trading at Rs 624.85, up by Rs 12.5 or 2.04% from its previous closing of Rs 612.35 on the BSE. The company announce Exports order for supply of Steel wheels for Winter market in EU bagging of repeat and Canada.

Most  Asian indices opened flat with the Japanese 'Nikkei" trading in the green. The deadline to exchange old high value currency notes comes to an end today and the attention is on what Prime Minister Narendra Modi will unleash in his much anticipated speech on the eve of New Year. Reports indicate that the inconveniences of the demonetisation may soon be history as the PM is set to announce a host of measures that will propel the economy back on the growth track. The FM sought to assuage any fears by throwing up facts stating that November saw a rise in tax collection; an increase in rabi sowing, higher air traffic and increased insurance premiums.

The government is proposing a staggered relaxation of existing restrictions on cash withdrawals from banks after 30 December. This is aimed at smoothening the transition as the Reserve Bank of India (RBI) supplies new currency notes.

The banking sector continues to face “significant” levels of stress but the financial system remains stable overall after moves to enhance transparency, Reserve Bank of India (RBI) governor Urjit Patel said in the biannual Financial Stability Report.

Nifty settles above 8,100; Auto, Metal, IT stocks gain

After opening with modest gains, indices remained under pressure in the first half. The key benchmark climbed on the last day of the December series as investors prepared to close out a volatile year for financial markets. However, as the day progressed, late bout of buying in the auto, metal and IT stocks lifted the benchmarks.

Short-covering on the back of futures and options (F&O) expiry and a rupee appreciation buoyed the Indian equity markets during the mid-afternoon trade session on Thursday.

Besides, budgetary expectations and value buying enhanced investors' risk-taking appetite, though negative global cues hampered the upward movement.

Sentiments got some support with report that the Cabinet Committee on Economic Affairs (CCEA) gave approval for over Rs 11,000 crore projects to improve rural road connectivity in the worst-affected left-wing extremism (LWE) districts from security angle.

The BSE Sensex ended with a gain of 155 points at 26,366. The BSE Sensex opened at 26,429 touched an intra-day high of 26,430 and low of 26,168.

The NSE Nifty closed with a gain of 69 points at 8,104. The NSE Nifty opened at 8,031 hitting a high of 8,111 and low of 8,021.

Metal, auto, realty, financial services, banking, IT and FMCG stocks led from the front. Only Pharma stocks were among the major losers.

Among the 50-stocks of Nifty, Grasim, Yes Bank, BPCL, Eicher Motors, Bosch, Tata Motors DVR, UltraTech Cements and Maruti Suzuki were among the gainers on NSE, whereas Adani Ports, Sun Pharmaceuticals, Aurobindo Pharma, Infosys, L&T, BHEL and SBI were among the losers today.

The India VIX (Volatility) index was down 1.67% at 15.2825. Out of 1,379 stocks traded on the NSE, 390 declined and 927advanced today. The BSE Midcap and Smallcap indices closed up by 1% each.

The rupee was trading up 14 paise at 68.09 per US dollar.

On the global front, Asian markets closed on a mixed trend, as the crude oil prices slipped after touching its highest level in more than a year overnight. The Nikkei 225 ended lower by 1%. Shanghai Composite ended in red and Hong Kong’s Hang Seng index index closed slightly higher.

European stocks trading in red. The FTSE 100, DAX and the CAC 40 were trading marginally down.

The Nifty IT index, which has fallen 9% so far this year, was 0.9% higher with Tech Mahindra and TCS as the top percentage gainers.

Shares of some pharmaceutical companies came under pressure after media report that the National Pharmaceutical Pricing Authority may bring rest of the 814 essential formulations under price control in the current financial year ending in March. Divis Lab fell 4.8%, whereas Glenmark, Sun Pharma and Aurobindo Pharma dropped 1% respectively.

Shares of IDBI Bank and IFCI gained on news of NSE filing papers with Sebi for its IPO. IFCI zoomed 13.4% on the BSE.

IRB Infrastructure gained 2.2% after the company has received Letter of Award from NHAI for the project of six laning of Kishangarh to Gulabpura section of NH 79A and NH 79 in the State of Rajasthan (length 90.000 km) on DBFOT (Toll) under NHDP Phase V package -I Project.

JMC Projects rallied 8% after company secured new orders worth over Rs 1,457 crore.

Pratibha Industries zoomed 11.5%. The company's board to meet on January 4, 2017 to approve the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.

Phoenix Mills rose 2%. The company on Wednesday said it has acquired the remaining 8.72% stake in its wholly-owned subsidiary Island Star Mall Developers Pvt Ltd (ISMDPL).

Rajesh Exports advanced 1.4% after the company has received an export order worth Rs 929 crore for designer gold and diamond studded jewellery. The order is to be executed by March, the company said.

Goa Carbon rallied 3%. The company on Wednesday informed bourses that the operations at Bilaspur Plant have commenced from December 27, 2016. 

A total of 12 stocks registered a fresh 52-week high in trades today, whereas 20 stocks touched a new 52-week low on the NSE.