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Indian
Indices: Indian
equity benchmarks trimmed losses to trade in green in late afternoon session
amid positive global cues. Sentiments got some support with report that
Indian economy attracted $4.68 billion foreign direct investment (FDI) in
November 2016, up 60 per cent over the corresponding period last year of
$2.93 billion. During April-November period of the current fiscal, FDI in the
country grew to $32.49-billion against $24.81 billion in the same period
previous year. However, upside remained capped as the Reserve Bank of India
decided to hold the key repo rate at 6.25% for the second time in a row,
changing its stance to 'neutral' from 'accommodative'. The central bank also
cut the economic growth forecast to 6.9 per cent for the current fiscal from
7.1 per cent estimated earlier.Meanwhile, continuing its protectionist
approach to support the domestic steel industry hit by cheap imports, the
government has extended the anti-dumping duty on certain cold-rolled flat
steel products from four nations including China and South Korea, by two
months.
The BSE
Sensex is currently closed at 28329.70, up by 39.78 points or 0.14% after trading in a range of 28152.18 and 28469.48. There
were 16 stocks advancing against 13 stocks declining on the index, while one
stock remained unchanged.The broader indices were trading in green; the BSE
Mid cap index was up by 0.08%, while Small cap index was up by 0.28%.
The
CNX Nifty is currently shut up at 8778.40, up by 9.35 points or 0.11% after
trading in a range of 8724.10 and 8821.40. There were 26 stocks advancing
against 25 stocks declining on the index.
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MARKET INDICATORS
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Top Movers (Group A)
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Company
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Cmp
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% chg
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Gainers
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Titan
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425.15
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8.07
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JPassociat
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13.92
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6.67
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FSL
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45.95
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6.61
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MCleodrus
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170.00
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6.18
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Losers
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Jubilant
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700.00
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-6.40
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Ramcocem
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676.25
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-5.36
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Adanient
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92.10
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-5.20
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JPassociat
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13.08
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-4.94
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Market Statistics
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BSE
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NSE
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Advances
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1397
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648
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Declines
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1190
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811
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Crporate Front: The Reserve Bank's decision not to cut key policy
rates is slightly negative for Indian equities and rupee in the near term,
says a Nomura report. "The surprising decision not to cut rates is
slightly negative for India equities and INR in the near term; however, we
maintain our medium-term view of INR outperformance and long INR position in
our RV portfolio.
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Market Sentiment:
The
market breadth on BSE was positive in the ratio of 1397: 1190, while 159
scrips remained unchanged.
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Macroeconomic front: Government
will this week launch a portal for bringing in more transparency and speed up
mining-related activities in the country. The Mines Ministry has developed a
portal which would facilitate in expediting the clearances associated with
the mining blocks and help all stakeholders to track status of statutory
clearances, an official statement said.
On
the global front:
On the global front, European markets were
trading in green as investors focused on earnings and took a cautious
approach amid rising political uncertainty. Asian markets were trading in
green although Japanese markets remained under pressure owing to the yen's
overnight strength. Back home, in scrip specific development, Maharashtra
Seamless traded higher after the company bagged prestigious ONGC order worth
Rs 421 crore ($ 61 million) for supply of seamless casings to ONGC against
stiff competition from domestic as well as foreign manufactures from China,
Russia, Ukraine, Romania, Argentina and others.
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Commodity
Updates:
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Commodity Prices (MCX):
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Commodity
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Rs
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% Chang
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Gold
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29362.00
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0.11
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Silver
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42371.00
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0.06
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Crude oil
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3542.00
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0.8
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Natural Gas
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212.70
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0.42
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Alluminium
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123.65
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0.37
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Copper
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394.40
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-0.01
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the
BSE were IT up by 1.47%, TECK up by 1.43%, Realty up by 1.13%, Power up by
0.64% and Consumer Durables up by 0.36%, while Metal down by 0.64%, Bankex
down by 0.36%, PSU down by 0.17% and Capital Goods down by 0.15% were the top
losing indices on BSE.
Top Nifty Movers:The top gainers on Nifty were
BhartiInfratel up by 3.77%, Tech Mahindra up by 2.30%, AurobindoPharma up by
1.89%, TCS up by 1.87% and Power Grid up by 1.72%. On the flip side, Hindalco
down by 2.28%, Tata Steel down by 1.89%, Bank of Baroda down by 1.79%, Cipla
down by 1.50% and Indusind Bank down by 1.22% were the top losers.
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Global Signals:
Asian markets
were trading mostly in green; KOSPI Index increased 0.8 points or 0.04% to
2,065.88, Jakarta Composite increased 6.18 points or 0.12% to 5,367.27,
Shanghai Composite increased 16.2 points or 0.51% to 3,183.18, Hang Seng
increased 40.01 points or 0.17% to 23,525.14 and Taiwan Weighted increased
46.93 points or 0.49% to 9,590.18. On the flip side, Nikkei 225 decreased
99.93 points or 0.53% to 18,907.67.
All European
markets were trading in green; UK’s FTSE 100 increased 6.35 points or 0.09%
to 7,195.17, France’s CAC increased 23.73 points or 0.5% to 4,790.33 and
Germany’s DAX increased 56.34 points or 0.49% to 11,599.72.
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