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Nifty, Sensex rally; IT stocks drag market

5. January 2017 Rohit Stock Market Research (0)

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Major headlines

· Government not to revise coal production target

· Synergise efforts to boost exports: Nirmala to states

· After banknote ban, India sees 7 percent growth in first half of 2017.

INDEX PERFORMANCE
*Index*	*Close*	*% Chg*
*Sensex*	*26,878.24*	*0.92*
*Nifty*	*8,273.80*	*1.02*

Indian Indices: Indian benchmark indices continued to trade in green in late afternoon session as positive global cues, appreciation in the rupee and firm crude oil prices lifted investors' sentiments. The key indices traded with gains of around a per cent each, as healthy buying was witnessed in Metal, Oil & Gas and Auto stocks. Traders took some encouragement with Finance Minister ArunJaitley’s statement that government will exceed its budget estimate of Rs 16.3 lakh crore for both direct and indirect tax collections this year. In the Budget for 2016-17 fiscal, Jaitley had put gross tax revenue estimate at Rs 16.3 lakh crore, about 11 percent higher than gross tax receipts of Rs 14.5 lakh crore for the previous fiscal. The RBI report said that the listed non-government non-financial (NGNF) companies’ aggregate sales growth (Year-on-Year) increased by 1.9 per cent in Quarter two of 2016-17, after near stagnation seen in the first quarter of the current financial year. However, raw material expenses increased in the current quarter in line with the general pause in falling global commodity prices. This resulted in a deceleration of operating profit growth at the aggregate level.

The BSE Sensex is shut up today at 26878.24, up by 245.11 points or 0.92% after trading in a range of 26738.42 and 26896.82. There were 26 stocks advancing against 4 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 1.14%, while Small cap index was up by 0.95%.

The CNX Nifty is currently closed at 8273.80, up by 83.30 points or 1.02% after trading in a range of 8223.70 and 8273.60. There were 44 stocks advancing against 7 stocks declining on the index.

*MARKET INDICATORS*			·
*Top Movers (Group A)*
*Company*	Cmp	% chg
*Gainers*
*Justdial*	393.40	14.63
*JPassociat*	10.56	8.09
*JSWSteel*	175.50	7.67
*Unitech*	4.79	7.64
*Losers*
*Cholafin*	926.00	-3.72
*TECHm*	488.00	-2.34
*Fortis*	185.20	-2.22
*Shriramcit*	1815.00	-2.86

*Market Statistics*
	*BSE*	*NSE*
*Advances*	1397	648
*Declines*	1190	811

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1397: 1190, while 159 scrips remained unchanged.

Crporate Front:

Commerce and Industry Minister NirmalaSitharaman underlined the need for synergising efforts between Centre and states to boost the country's exports on sustainable basis, reported PTI.

Macroeconomic front:

The Road Ministry has said that it has requested the Finance Ministry to allocate Rs 90,904 crore to help complete ongoing highway projects in time and compensate for the toll revenue losses following demonetisation.

On the global front:

On the global front, European markets were trading in red after minutes from the last U.S. Federal meeting showed a willingness to increase rates at a faster pace. Asian markets were mixed, with stocks in Hong Kong gaining, while Japanese shares pulled back. Back home, in scrip specific development Som Distilleries was trading jubilantly on plan to start brewery production in Karnataka by June-July and Steel Authority of India (SAIL) jumped higher after the company reported a 16% sales growth during the April-December 2016 period over the corresponding period last year.

Commodity Updates:

*Commodity Prices (MCX):*
*Commodity*	Rs	*% Chang*
*Gold*	*27829.00*	*0.53*
*Silver*	*40443.00*	*0.44*
*Crude oil*	*3618.00*	*-0.08*
*Natural Gas*	*223.10*	*0.9*
*Alluminium*	*115.25*	*0.26*
*Copper*	*385.30*	*0.33*

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 3.18%, Oil & Gas up by 1.70%, Auto up by 1.64%, PSU up by 1.51% and Bankex up by 1.50%, while IT down by 0.32% and TECK down by 0.14% were the few losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Yes Bank up by 4.69%, Adani Ports &Special up by 4.18%, Tata Steel up by 3.92%, Tata Motors - DVR up by 3.27% and Bosch up by 3.22%. On the flip side, TCS down by 1.32%, BhartiInfratel down by 1.28%, HCL Tech. down by 0.87%, Tech Mahindra down by 0.86% and Infosys down by 0.30% were the top losers.

Global Signals:

Asian markets were trading mostly in green; Shanghai Composite increased 6.62 points or 0.21% to 3,165.41, FTSE Bursa Malaysia KLCI increased 11.38 points or 0.69% to 1,658.85, Jakarta Composite increased 16.71 points or 0.32% to 5,317.89, Taiwan Weighted increased 71.18 points or 0.77% to 9,358.14 and Hang Seng increased 322.22 points or 1.46% to 22,456.69. On the flip side, Nikkei 225 decreased 73.47 points or 0.37% to 19,520.69 and KOSPI Index decreased 3.69 points or 0.18% to 2,041.95.

All European markets were trading in red; Germany’s DAX decreased 31.9 points or 0.28% to 11,552.41, France’s CAC decreased 23.57 points or 0.48% to 4,875.83 and UK’s FTSE 100 decreased 0.31 points or 0% to 7,189.43.

Dow Jones nears 20000 as US$ & bond yields fall, global markets see renewed strength in equities.

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Major headlines:

· Gold hits four week high as dollar weakens.

· Key Indian equity market indices open higher

· GST deadlock continues over high sea taxes FM hopes resolution.

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*26454*	*26725*
*Nifty*	*8138*	*8215*

Indian Indices: Asian indices traded in the green even as the Japanese 'Nikkei" traded flat after yesterday's massive almost 500 point rally. Renewed bout of global growth optimism saw equities regain momentum as investors bought stocks. Emerging markets also are seeing value buying emerge as investors allocate funds to EM ETF"s.

Nifty consolidated around 8200 with banks stocks being under pressure after the recent round of rate cuts. Materials, infra & IT stocks lead from the front with huge buying seen in mid cap leveraged stocks which should be prime beneficiary of lower rates. Nifty may consolidate around 8200 with an attempt to cross the 200 DMA placed @ 8270 with the real action being in the broader market.

The BSE Sensex is currently trading at 26820.56, up by 187.43 points or 0.70% after trading in a range of 26738.42 and 26823.25. There were 28 stocks advancing against 2 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.84%, while Small cap index was up by 0.85%.The CNX Nifty is currently trading at 8252.55, up by 62.05 points or 0.76% after trading in a range of 8223.70 and 8253.05. There were 47 stocks advancing against 4 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Gati*	123.65	6.37
*IOC*	345.65	5.69
*TITAN*	350.95	5.37
*Sintex*	78.90	5.06
*Group ATopLosers*
*Hindcopper*	62.45	2.27
*Cholafin*	930.55	-1.91
*GRUH*	323.40	-1.61
*INFy*	986.10	-1.55

Market Statistics
	BSE	NSE
*Advances*	*1685*	*1168*
*Declines*	*522*	*307*

Technical view: Nifty will find support around 8150 while 8270 which is the 200 DMA will act as resistance on the upside. Bank Nifty also finds support closer to 17750 & needs to cross 18092 on closing basis decisively for any further upside.

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1685:522, while 98 scrips remained unchanged.

Trading ideas :HCLTECH (Buy above Rs 858 for target of Rs 888, SL at Rs 843): Stock has given a breakout from a downward sloping trendline resistance in yesterday's trade on the daily charts. On analyzing the hourly charts too, stock successfully broke out of a bullish cup and handle pattern. HCL tech becomes an ideal price-volume breakout counter, and looks good for further upside. We advise to Buy HCLTECH above Rs 858, stop loss at Rs 843 and Target of Rs 888.

MacroeconomicFront: The Indian Government has said that it has asked state governments to ensure that no additional charges are levied on e-payments to urban local bodies and also consider rolling out incentives like cash back on utility bills paid through digital means. Commenting on the issue, Union minister M Venkaiah Naidu told the media, "I request you to motivate all Urban Local Bodies (ULBs) in your state to switch over to electronic transactions for their payments as well as receipts.

Corporate Snippets:

Godrej Properties LTD GPL has sold more than 300 apartments with in two months of launch at its project Godrej greens in Pune. This represents more than 75% of the 400 apartments that were opened for sale.

Jubilant Life Sciences subsidiary has signed long term contracts in the US for the supply of some of its diagnostic and therapeutic products.

BGR Energy Systems has recently won two contracts worth Rs6.50 bn for setting up water treatment plants.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Oil & Gas up by 1.57%, Metal up by 1.52%, PSU up by 1.21%, Auto up by 1.12% and Bankex up by 0.82%. The top gainers on the Sensex were Tata Motors up by 2.77%, Adani Ports & Special Economic Zone up by 2.39%, ONGC up by 2.08%, Wipro up by 1.84% and Sun Pharma up by 1.53%.

Nifty Movers:The top gainers on Nifty were Tata Motors up by 2.72%, Yes Bank up by 2.33%, Tata Motors - DVR up by 2.16%, Adani Ports & Special Economic Zone up by 2.15% and Bosch up by 1.93%. On the flip side, BhartiInfratel down by 2.20%, Mahindra & Mahindra down by 0.79%, Ambuja Cement down by 0.38% and HDFC down by 0.19% were the top losers.

On the global front: On the global front, Asian shares were trading mostly in green, with mainland China and Hong Kong gaining on a solid services PMI reading, while Japan edged down as the dollar weakened overnight and into Asia from 14-year highs against a basket of currencies as investors began to cast doubt the Fed would raise rates three times this year. The Caixin services PMI for China rose to 53.4, a tick above 53.3 expected and that followed solid manufacturing figures from China as well as Japan regionally this week

Global Signals: The Asian markets were trading mostly in green; Shanghai Composite increased 2.37 points or 0.08% to 3,161.17, FTSE Bursa Malaysia KLCI increased 6.59 points or 0.4% to 1,654.06, Jakarta Composite increased 19.79 points or 0.37% to 5,320.98, Taiwan Weighted increased 62.18 points or 0.67% to 9,349.14 and Hang Seng increased 277.94 points or 1.26% to 22,412.41. On the other hand, Nikkei 225 decreased 91.57 points or 0.47% to 19,502.59 and KOSPI Index decreased 1.58 points or 0.08% to 2,044.06.

Escorts Ltd Agri Machinery Segment (EAM) in December 2016 sold 3,187 tractors growth of 15.8 percent against 2,751 tractors in December 2015

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Domestic tractor sales for the month of December 2016 up by 11.6 percent at 3,043 tractors against 2,727 tractors in December 2015. Export for the month of December 2016 up by 500 percent at 144 tractors against 24 tractors in December 2015.

Month and YTD Sales figure are as follows:

Particulars	December			YTD
Particulars	FY17	FY16	% Change	FY17	FY16	% Change
Domestic	3,043	2,727	11.6%	48,074	39,092	23.0%
Export	144	24	500.0%	734	540	35.9%
Total	3,187	2,751	15.8%	48,808	39,632	23.2%

Developed markets see profit booking with value buying emerging in emerging markets as year end sets in

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Major headlines:

· GE Power zooms on wining contract worth Rs 271 cr from BHEL

· Key Indian equity indices trade higher in early trade

· China to relax curbs on foreign investment in banking securities state planner

INDEX PERFORMANCE
*Indices*	*Support*	Resistance
*Sensex*	*26212*	*26475*
*Nifty*	*8045*	*8135*

Indian Indices: Most Asian indices opened flat with the Japanese 'Nikkei" trading in the red for another day aping the decline in US indices. Year end profit booking & subsequent value buying is the order of the past few days & may continue for next few days. Fall in bond yields, weakness in US$ are prompting buying in most emerging markets with Brazil & India seeing relative gains.

Nifty managed to close above 8100 with derivative expiry seeing huge short covering in the last hour. With pessimism overdone around 7900 expect Nifty to see another 100 points gain before profit booking reemerges. For today expect window dressing in select sector/stocks as NAV(net asset value) boosting could see metals, banks & select infra stocks gain ground.

The BSE Sensex is currently trading at 26576.94, up by 210.79 points or 0.80% after trading in a range of 26406.53 and 26587.66. There were 25 stocks advancing against 5 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 1.20%, while Small cap index was up by 1.02%.

The CNX Nifty is currently trading at 8162.80, up by 59.20 points or 0.73% after trading in a range of 8114.75 and 8168.95. There were 42 stocks advancing against 9 stocks declining on the index..

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Renuka*	14.02	7.10
*Arvind*	351.80	5.25
*HDIL*	58.50	4.74
*PVR*	1167.45	4.00
*Group ATopLosers*
*Enginersin*	152.95	-8.58
*Finolexind*	436.50	-2.44
*IDFC*	54.25	-2.08
*IFCI*	27.50	-1.79

Market Statistics
	BSE	NSE
*Advances*	*999*	*1247*
*Declines*	*1021*	*226*

Technical view: Nifty now finds strong support @ 8020 with 8180 being the next resistance on the upside. Bank Nifty also finds strong support @ 17829 while resistance will now come @ 18143 which was the previous support.

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1625:453, while 101 scrips remained unchanged.

Trading ideas: TECHM (Buy above Rs 484.5 for target of Rs 506, SL at Rs 474): Stock in yesterday's trade broke out of a pennant formation after consolidating for a month. Prior trend being positive, the continuation pattern augurs well for the stock to move up. The stock also successfully closed above its important 200-DMA of Rs 476.5. RSI crossover is another positive trigger for the stock. We advise to Buy TechM above Rs 484.5, stop loss at Rs 474 and Target of Rs 506.

MacroeconomicFront: A RBI report has said that curbing of speculative activities in the realty sector after the establishment of a regulator is expected to adversely impact the housing finance companies. Commenting on the issue, a RBI Official told the media, "The push to regulate the realty sector is likely to have an impact on housing finance segments as it may help curb speculative activities significantly."

Corporate Snippets: Tata Steel Special Economic Zone LTd has sought more time from the Goverenment for setting up a multi product SEZ in Odisha

Lupinhas received tentative approval from the US health regulator to market its Balasalazide Disodium tablets used for the treatment of ulcerative colitis in the American market.

Reliance Industries Ltd has announced the success ful commissioning of the first phase of the paraxylene plant at its janagar petrochemicals complex in Gujarat with capacity of 2.2 mntpa.

Top Sectoral & Stock Screening: The top gaining sectoral indices on the BSE were FMCG up by 1.40%, Power up by 1.12%, Realty up by 1.08%, Capital Goods up by 1.03% and Bankex up by 0.95%, while there were no losing indices.

Nifty Movers: The top gainers on Nifty were AurobindoPharma up by 2.52%, BHEL up by 2.15%, ICICI Bank up by 1.81%, Tata Power up by 1.80% and Grasim Industries up by 1.77%. On the flip side, BPCL down by 0.95%, BhartiAirtel down by 0.61%, BhartiInfratel down by 0.47%, Tata Motors down by 0.37% and Coal India down by 0.23% were the top losers.

On the global front: On the global front, Asian shares were trading mostly in green, while profit-taking weighed on the dollar and the euro held near a two-week high after spiking early in the day. China’s stock exchange was trading in green taking cues from a survey by the People’s Bank of China which showed that business confidence among entrepreneurs in China rose for the third straight quarter in October-December.

Global Signals: The Asian markets were trading mostly in green; Shanghai Composite increased 3.03 points or 0.1% to 3,099.13, Nikkei 225 increased 6.03 points or 0.03% to 19,151.17, Jakarta Composite increased 27.77 points or 0.52% to 5,330.34, Taiwan Weighted increased 94.79 points or 1.04% to 9,247.88 and Hang Seng increased 255.43 points or 1.17% to 22,046.34.On the other hand, FTSE Bursa Malaysia KLCI decreased 2.02 points or 0.12% to 1,635.91. South Korea Stock Exchange was closed on account of ‘New Year’s Eve’ holiday.

US stocks fall as vertigo effect near 20000 sees strong profit booking before year end!!

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Indian Indices:Most Asian indices opened weak following overnight cues from the US where the Dow Jones fell over 100 points. Weakness in oil & fall in bond yields all saw profit booking in equities with year end blues prompting raising cash. However the silver lining was a strong rally in the Brazilian 'Bovespa' which gained due to value buying & weakness in the US$.

Nifty faced strong resistance around 8100 levels as derivative contract expiry due today saw intra day gains disappear. For today expect volatility to be the order with 8000-8100 being the range for the Nifty expiry of the last series of calendar 2016.Initial weakness may be bought into with stock specific action expected in the 2nd half of the day.

The BSE Sensex is currently trading at 26254.14, up by 43.46 points or 0.17% after trading in a range of 26166.67 and 26429.63. There were 21 stocks advancing against 9 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.72%, while Small cap index was up by 0.71%.

The CNX Nifty is currently trading at 8053.75, up by 18.90 points or 0.24% after trading in a range of 8020.80 and 8055.75. There were 37 stocks advancing against 14 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*IFCI*	27.50	11.34
*PEL*	1590.55	4.68
*M&MFin*	270.75	3.56
*Intellect*	140.10	3.47
*Group ATopLosers*
*DIVISLAB*	788.65	-4.29
*Sadhav*	266.10	-2.08
*ICRA*	3903.00	-1.92
*Unitech*	4.00	-1.72

Market Statistics
	BSE	NSE
*Advances*	*999*	*990*
*Declines*	*1021*	*452*

Technical view: Nifty as expected faced resistance around 8100 which will act as a top while 7980 will act as support. Bank Nifty also hit resistance around 18000 while 17700 will act as support.

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1375:597, while 119 scrips remained unchanged.

Trading ideas :BATAINDIA (Buy above Rs 440 for target of Rs 452, SL at Rs 434): Stock in yesterday's trade broke out of a classic double bottom pattern on daily charts. The breakout triggers change in the short term trend to positive. Stock closed near its 50-DMA resistance of Rs 439. If stock manages to cross the same and sustain above Rs 440, Bata may see further buying momentum coming in. We advise to Buy Bata India above Rs 440, stop loss at Rs 434 and Target of Rs 452.

MacroeconomicFront:The Indian Government has said that it has initiated an exercise to set up a unified body to address grievances of customers in the financial sector. As per reports, currently, there are separate grievance redressal mechanisms for insurance, banking services, pension and securities market.

Corporate Snippets:ICICI Bank, which had attempted to auction the asset with a built up area of 41000/sqft twice before expects to raise Rs 240 bn from selling it off.

State Bank of India rejected reports that Rs 13 bn cash have been deposited in its various branches in Arunchal Pradesh after demonestisation saying no such deposits were found after minutely verifying the relevant records.

NTPC LTdhas commissioned the Unit-1 of 800 MW of kudgi Super Thermal Power project on December 25.

ZydusCadilaannouced that its wholly owned subsidiary Zadus Healthcare Limited has acquire six brands from American pharma player MSD and its subsidiary in India.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Oil & Gas up by 1.17%, Consumer Durables up by 1.05%, PSU up by 0.85%, Metal up by 0.61% and Power up by 0.59%, while FMCG down by 0.25% was the sole losing index on BSE.

Nifty Movers:The top gainers on Nifty were BPCL up by 1.93%, Grasim Industries up by 1.64%, Idea Cellular up by 1.54%, Ambuja Cement up by 1.32% and HCL Tech up by 1.23%. On the flip side, Adani Ports & Special Economic Zone down by 1.82%, ITC down by 1.17%, Zee Entertainment down by 1.08%, AurobindoPharma down by 0.73% and Coal India down by 0.54% were the top losers.

On the global front:On the global front, Asian shares were trading mostly in green, with Japan’s Nikkei down as the yen firmed and Toshiba Corp dived after news of potential massive write-downs led to a downgrade of its credit ratings.

Global Signals:The Asian markets were trading mostly in green; KOSPI Index increased 0.59 points or 0.03% to 2,025.08, FTSE Bursa Malaysia KLCI increased 3.31 points or 0.2% to 1,633.61, Shanghai Composite increased 4.1 points or 0.13% to 3,106.34 and Jakarta Composite increased 60.96 points or 1.17% to 5,270.40.On the other hand, Nikkei 225 decreased 247.3 points or 1.27% to 19,154.42, Taiwan Weighted decreased 51.4 points or 0.56% to 9,150.00 and Hang Seng decreased 14 points or 0.06% to 21,740.74.

Global markets see year end blues as holiday season sees low volumes & range bound indices

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Major headlines:

· Oil steady in quiet holiday season trade, supply cut deal to kick in jan 1.

· Gold edges higher in thin trade after holiday weekend

· Asia stocks mixed in muted session dollar recovers some losses.

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*25705*	*25959*
*Nifty*	*7878*	*7955*

Indian Indices:Asian indices were trading flat to mildly positive as volumes drop in the holiday season with year end blues taking over. The trade of long developed markets & short emerging markets has played out well in the last 2 months with both the Japanese 'Nikkei' & the US Dow Jones now in sight of hitting 20000.

Nifty saw bears out in force to drive the index to the lowest since the 'brexit low' of 24th June.With expiry on Thursday& foreign flows muted expect a strong pullback from grossly oversold territory which could see the Nifty test 8100 this week. For today expect negative rhetoric on taxes to dominate opening, however domestic flows should add colour with buying in banks, metals & IT stocks.

The BSE Sensex is currently trading at 25868.74, up by 61.64 points or 0.24% after trading in a range of 25803.19 and 25898.35. There were 19 stocks advancing against 11 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index gained 0.05%, while Small cap index was down by 0.01%.The CNX Nifty is currently trading at 7,923.50, up by 15.25 points or 0.19% after trading in a range of 7,903.70 and 7935.60. There were 31 stocks advancing against 20 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Welcorp*	76.60	4.79
*IDFC*	52.50	4.06
*Aloktext*	3.36	4.02
*Ramcocem*	526.00	3.87
*Group ATopLosers*
*IBrealest*	67.40	-3.09
*CEATLTD*	1101.95	-2.90
*TVSMotor*	357.80	-2.3
*Naukri*	872.00	-1.74

Market Statistics
	BSE	NSE
*Advances*	*999*	*1018*
*Declines*	*1021*	*419*

Technical view: Nifty to find support around 7850 with 8050 now acting as a strong top. Bank Nifty also now finds support around 17500 while 17850 will act as a resistance which was earlier a support.

Market Sentiment:

The market breadth on BSE was negative in the ratio of 468:1585, while 99 scrips remained unchanged.

Trading ideas :VEDL Dec Fut (Sell below Rs 208.5 for Target of Rs 202.5, SL at Rs 211.5): Stock on the daily charts have broken down from upward sloping trendline connecting higher lows. Last two trading session also witnessed VEDL sustaining below the 50-DMA resulting in higher increased selling pressure. The selling in this stock coincides with Nifty Metal index too giving a fresh breakdown. We advise to SELL VEDL Dec Fut below Rs 208.5, stop loss at Rs 211.5, and Target of Rs 202.5.

MacroeconomicFront:As per RBI data, India Inc raised USD 488.49 million via External Commercial Borrowings (ECBs) and Rupee Denominated Bonds (RDBs) in November 2016. As per reports, the Indian companies had raised USD 3.16 billion from foreign sources in the same month a year ago. However, the data is not comparable as borrowings through RDBs were included only this year.

Corporate Snippets:Jet Airways announced the deployment of higher seating capacity aircraft on two domestic and an equal number of international routes from early next year amid growing passenger demand.

Lupin has received tentative approval from the US health regular to sell Olmesartanmedoximil tablets, used for treating high blood pressure, in the American market.

NTPC LTdhas commissioned the Unit-1 of 800 MW of kudgi Super Thermal Power project on December 25.

L&T Construction,the construction arm of L&T has won orders worth RS 30.39 bn across its various business segments.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Consumer Durables up by 0.74%, Oil & Gas up by 0.64%, IT up by 0.44%, TECK up by 0.32% and PSU was up by 0.10%, while Realty down by 1.80%, Metal down by 0.28%, Power down by 0.16%, Capital Goods was down by 0.03% and Auto down by 0.02% were the top losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Cipla up by 1.96%, AurobindoPharma up by 1.26%, Sun Pharma up by 1.25%, Tata Motors - DVR up by 1.23% and Lupin was up by 1.13%. On the flip side, Hindalco down by 1.39%, Grasim Industries down by 1.14%, BhartiAirtel down by 1.01%, GAIL India down by 0.96% and Idea Cellular was down by 0.94% were the top losers.

On the global front:On the global front, Asian stocks were trading flat, in thin trade and with little to guide them as most major markets were closed on Monday for Christmas holidays, while the dollar reclaimed some of its losses from Monday. Back home, traders eying the meeting of Prime Minister NarendraModi with economists and senior government officials at NITI Aayog.

Global Signals:Asian markets were exhibiting mixed trend; Hang Seng decreased 61.44 points or 0.28% to 21,574.76, Taiwan Weighted slipped 4.39 points or 0.05% to 9,106.15 and FTSE Bursa Malaysia KLCI was down by 0.24 points or 0.01% to 1,616.91. On the flip side, KOSPI Index increased 4.2 points or 0.21% to 2,041.95 and Jakarta Composite was up by 45.94 points or 0.91% to 5,073.64.

Global markets see year end blues as holiday season sees low volumes & range bound indices

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Major headlines:

· Oil steady in quiet holiday season trade, supply cut deal to kick in jan 1.

· Gold edges higher in thin trade after holiday weekend

· Asia stocks mixed in muted session dollar recovers some losses.

INDEX PERFORMANCE
*Indices*	*Support*	*Resistanes*
*Sensex*	*25705*	*25959*
*Nifty*	*7878*	*7955*

Indian Indices:Asian indices were trading flat to mildly positive as volumes drop in the holiday season with year end blues taking over. The trade of long developed markets & short emerging markets has played out well in the last 2 months with both the Japanese 'Nikkei' & the US Dow Jones now in sight of hitting 20000.

Nifty saw bears out in force to drive the index to the lowest since the 'brexit low' of 24th June.With expiry on Thursday& foreign flows muted expect a strong pullback from grossly oversold territory which could see the Nifty test 8100 this week. For today expect negative rhetoric on taxes to dominate opening, however domestic flows should add colour with buying in banks, metals & IT stocks.

The BSE Sensex is currently trading at 25868.74, up by 61.64 points or 0.24% after trading in a range of 25803.19 and 25898.35. There were 19 stocks advancing against 11 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index gained 0.05%, while Small cap index was down by 0.01%.The CNX Nifty is currently trading at 7,923.50, up by 15.25 points or 0.19% after trading in a range of 7,903.70 and 7935.60. There were 31 stocks advancing against 20 stocks declining on the index.

MARKET INDICATORS			·
*Group ATopGainers*
*Company*	Price (Rs)	% chg
*Welcorp*	76.60	4.79
*IDFC*	52.50	4.06
*Aloktext*	3.36	4.02
*Ramcocem*	526.00	3.87
*Group ATopLosers*
*IBrealest*	67.40	-3.09
*CEATLTD*	1101.95	-2.90
*TVSMotor*	357.80	-2.3
*Naukri*	872.00	-1.74

Market Statistics
	BSE	NSE
*Advances*	*999*	*1018*
*Declines*	*1021*	*419*