Major headlines
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India’s December domestic passenger vehicle sales down
1.36%
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India’s fuel demand rose 4.3 percent Y/Y in December
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Reforms, Policy effectiveness to decide India rating
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Indian Indices: Indian equity
indices maintained the upbeat mood in late afternoon session and extended
their gains on the back of healthy buying in Metal, Oil & Gas and
Consumer Durables stocks. Sentiments got support with Moody’s report which
maintained positive outlook on India and said beyond the short-term negative
impact on growth, demonetisation has the potential to raise government
revenues and provide some fiscal space to support growth if required.
Positive opening in European market too aided the sentiments. European
markets were trading in green despite concerns over the Italian banking
system and the implementation of an OPEC deal. Back
home, buying in Tata Motors and Tata Steel too supported the markets uptrend.
Tata Motors was trading higher after the company’s arm reported 12% rise in
December retail sales. Tata steel was trading in green after company reported
27% jump in Q3FY17 sales to 2.9 MT.
The BSE
Sensex is currently trading at 26885.20, up by 158.65 points or 0.59% after
trading in a range of 26804.17 and 26914.95. There were 24 stocks advancing
against 6 stocks declining on the index.The broader indices were trading in
green; the BSE Mid cap index was up by 0.35%, while Small cap index was up by
0.59%.
The
CNX Nifty is currently closed at 8236.05, up by -7.75 points or 0.09% after
trading in a range of 8227.75 and 8263.00. There were 27 stocks advancing
against 24 stocks declining on the index.
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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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Crporate Front:
Government’s
capacity to implement reforms and policy effectiveness will decide India’s
rating going forward, Moody’s Investors Service said. The US-based agency
said that ongoing implementation of reforms is likely to boost India’s
medium-term growth.
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Macroeconomic front:
Ministries of environment and textiles will soon meet to find
long-term as well as short-term solutions to the challenges being faced by
domestic handicrafts exporters, said the media report. A meeting to resolve the issues of Indian handicrafts
exporters will soon be convened, Textiles Minister SmritiIrani has said.
On
the global front:
On the global front, European markets were
trading mostly in red, as investors remained on sidelines ahead of fresh data
from the euro zone and volatility in oil markets. Asian markets were trading
mostly in red. Back home, value buying in Realty, Auto and FMCG stocks also
supported the markets.
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Commodity
Updates:
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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28062.00
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0.04
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Silver
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40630.00
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-0.14
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Crude oil
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3567.00
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-0.2
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Natural Gas
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215.50
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1.32
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Alluminium
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118.45
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0.85
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Copper
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387.25
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1.12
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the
BSE were Metal up by 0.96%, Oil & Gas up by 0.94%, Consumer Durables up
by 0.88%, Auto up by 0.78% and FMCG up by 0.69% , while Realty down by 0.42%
was the sole losing index on BSE.
Top Nifty Movers:The top gainers on Nifty were Hindalco up
by 3.77%, Adani Ports &Special up by 3.00%, Tata Motors up by 2.58%,
Asian Paints up by 1.82% and Tata Motors - DVR up by 1.68%. On the flip side,
Axis Bank down by 1.12%, Grasim Industries down by 1.06%, Ambuja Cement down
by 0.66%, HDFC down by 0.65% and Indusind Bank down by 0.63% were the top losers.
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Global Signals:
Asian markets
were trading mostly in red; Nikkei 225 decreased 152.89 points or 0.79% to
19,301.44, Jakarta Composite decreased 12.35 points or 0.23% to 5,304.02,
Shanghai Composite decreased 9.56 points or 0.3% to 3,161.67, KOSPI Index
decreased 3.66 points or 0.18% to 2,045.12 and FTSE Bursa Malaysia KLCI
decreased 0.46 points or 0.03% to 1,667.44. On the flip side, Taiwan Weighted
increased 7.22 points or 0.08% to 9,349.64 and Hang Seng increased 186.16
points or 0.83% to 22,744.85.
All European
markets were trading in green; France’s CAC increased 8.73 points or 0.18% to
4,896.30, UK’s FTSE 100 increased 13.63 points or 0.19% to 7,251.40 and
Germany’s DAX increased 26.98 points or 0.23% to 11,590.97.
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