The BSE Sensex and NSE Nifty swung between gains and losses on Wednesday and finally concluded the session in green on account of buying in front line blue chip stocks taking cues from European counterparts, led by a strong rally in RIL and Infosys ahead of their third quarter earnings . Sensex closed 172.08 points up at 24,854.11, while Nifty settled 52.10 points up at 7,562.40.
“Indices witnessed an essel world ride in today’s trading session. After a positive opening indices witnessed a sharp cut on account of heavy selling pressure during the mid-day. The sentiments on the Street were jittery after weak IIP data. However, with firm opening of European benchmarks and strong global cues markets bounced back sharply to shut the day positive, ” Gaurav Jain, director, Hem Securities said.
Earlier, stock markets failed to hold on to their initial gains and entered into negative terrain in noon deals as investors got jittery about the industrial output for the month of November. IIP fell at the sharpest pace in over four years in November and consumer inflation shot up to 5.61 per cent in December. However, sentiment got a boost from European markets, which advanced for a second day buoyed by a recovery in commodity and energy producer stocks.
European equities rallied, led higher by Dutch insurer Aegon following an update on its strategy and targets, with better-than-expected Chinese trade data also soothing investors’ fragile sentiment. The FTSEurofirst 300 index rose 1.6 per cent to 1,370.94 points by 0859 GMT, extending the previous session’s gains.
Reliance Industries (RIL) share price settled 3.09 per cent up at Rs 1077.35 after reports that its subsidiary Reliance Jio Infocomm (RJIL) has received approval from the government’s green panel to build the Indian part of the Asia-Africa-Europe One (AAE-1) submarine cable under the Coastal Regulation Zone (CRZ). Infosys surged 3.08 per cent to Rs 1,082.35 ahead of third quarterly earnings, to be announced on Thursday.
In the 50-share index, Infosys (up 2.96 per cent), Reliance (up 2.65 per cent), IndusInd Bank (up 2.50 per cent), HCL Tech (up 2.34 per cent) and Tata Motors (up 2.25 per cent) were among the gainers. On the other hand, Vedanta (down 3.62 per cent), Idea Cellular(down 3.58 per cent), Adani Ports (down 2.70 per cent), Larsen and Toubro (down 2.48 per cent) and Bharti Airtel (down 2.03 per cent) were among major losers.
Sector-wise, the BSE Energy (up by 1.57 per cent) gained the most, followed by Auto(up by 0.89 per cent), IT (up 0.69 per cent), Banking(up 0.66 per cent) and Oil & Gas(up 0.63 per cent), while Telecom (down by 1.72 per cent), Capital Goods(down 1.34 per cent), Utilities (down by 1.25 per cent), Power (down by 1.11 per cent) and Realty (down 1.04 per cent) were among the losing indices on BSE.
Asian equity markets ended mostly in green on Wednesday after China reported improved exports in December, salving nerves about the world’s second largest economy. Data showed China’s exports rose for the first time since June. China’s exports unexpectedly rose 2.3 per cent in December from a year earlier in yuan terms, after a 3.7 per cent drop in the previous month.
Markets through the day
3.30 pm: Sensex closed 172.08 points up at 24,854.11, while Nifty settled 52.10 points up at 7,562.40.
Traders were seen piling position in Auto and FMCG stocks while selling was witnessed in Capital Goods, Power and Realty sector stocks.
Investors paid no attention towards weaker-than-expected macroeconomic data which weighed on sentiments.
2.52 pm: Sensex was up 206 points at 24,888. Nifty was up 65.95 points at 7,576. On the global front, the Asian markets were trading mostly in green while the European markets were trading on optimistic note.
2.15 pm: Emami has entered into the packaged honey category under its Zandu brand. The homegrown consumer goods firm has positioned Zandu honey on quality and claims its product has zero sugar. The Emami’s Zandu honey has been priced at a 35% premium over Dabur. Emami shares were trading 3.22 per cent up at Rs 1078.75. Sensex was up 86 points at 24,768.
1.56 pm: Reliance Industries (RIL) shares hit new 52-week high on Wednesday after reports that its subsidiary Reliance Jio Infocomm (RJIL) has received approval from the government’s green panel to build the Indian part of the Asia-Africa-Europe One (AAE-1) submarine cable under the Coastal Regulation Zone (CRZ).
At 1.56 pm, shares of RIL were trading 3.59 per cent up at Rs 1,082.60. The scrip opened at Rs 1,054.80 and had touched a high and low of Rs 1,085.40 and Rs 1,019.35, respectively, in trade so far. Sensex was up 51.90 points at 24,733.93.
1.39 pm: Reliance Communications (RCom) shares were trading 3.68 per cent down at Rs 77.30. Reliance Communications is still waiting to hear from the government on its application for spectrum sharing and trading in 20 circles and that a decision will be taken only after getting replies on all the areas, the company has clarified to stock exchanges.
As per a filing posed on the website of the Bombay Stock Exchange on Wednesday, the company said applications were again made to the Depertment of Telecom (DoT) after it had notified the norms for liberalisation of spectrum on November 5 last year, along with a fee of Rs 50,000 per area.
1.32 pm: Meanwhile, Tata Consultancy Services (TCS) hit fresh 18-month low on the BSE, after the company for the sixth quarter in a row missed the Street’s revenue estimates during the third quarter ended December 31, 2015 (Q3FY16). TCS shares were trading 1.73 per cent down at Rs 2,283.90. Sensex was down 85.54 points at 24,596. Nifty was down 32.50 points at 7,477.80.
1.14 pm: The NSE Nifty50 index fell below 7,450 for the first time since July 14, 2014. The index was trading 0.89 per cent down at 7,443.25.
12.57 pm: Meanwhile, Karur Vysya Bank reported a 34.20 per cent jump in net profit figures at Rs 152.83 crore for quarter ended December 31, on account of lower provisions for bad loans. The bank had reported a net profit of Rs 113.88 crore in the same quarter last year. On the asset quality front, the gross non-performing assets (NPAs) or the bad loans remained constant at 1.91 per cent of the total advances while net NPAs increased to 0.96 per cent during the quarter review as against 0.73 per cent in the corresponding period a year ago. Shares of Karur Vysya Bank were trading 1.20 per cent down at Rs 487.10.
12.50 pm: Benchmark index Sensex plunged over 450 from day’s high. The index hit a high and low of 24,909 and 24,416, respectively, in trade so far. Sensex was down 206 points at 24,475 (at 12.50 pm). Nifty was trading 53.80 points down at 7,456.
12.19 pm: The market breadth on BSE was negative, out of 2778 stocks traded, 362 stocks advanced, while 2,279 stocks declined on the BSE.
12.01 pm: The 50-share Nifty moved down by 32.35 points or 0.43 per cent to 7,477.95. Major losers were, Adani Ports (4.33 per cent) followed by Vedanta (3.74 per cent), Larsen & Toubro (3.24 per cent), Tata Power (2.91 per cent) and Bank of Baroda (2.83 per cent). However, IndusInd Bank rose by 2.29 per cent followed by Infosys 1.44 per cent, Tata Motors 1.34 per cent, ZEEL 1.17 per cent and Mahindra & Mahindra 0.94 per cent.
11.33 am: The benchmark BSE Sensex failed to hold onto early gains and slipped over 100 points in late morning deals. Sensex was down 102 points at 24,580. Nifty was down 22.10 points at 7488.20. Fresh selling in power, capital goods, realty and metal stocks dampened market mood. Sensex, Nifty and Bank Nifty hit fresh 52-week low in today’s trade.
11.07 am: DCB Bank gained over 5 per cent on the BSE after the private sector lender said that gross non-performing assets (NPA) as a percentage of total advances declined marginally to 1.98 per cent at the end of December quarter (Q3FY16), from 1.99 per cent in the previous quarter. Net NPA declined to 1.12 per cent from 1.16 per cent on a sequential basis.
10.52 am: Shares of Tata Motors gained over 2 per cent on plan to roll-out Zica 7 Senses. Tata Motors has introduced a unique ‘7 Senses’ experience for the recently unveiled, Zica, its next big launch. This latest offering from Tata Motors takes the spirit of innovation further. The company will roll-out a unique customer immersive experience campaign – Zica ‘7 Senses’, designed to give a complete experience of the car, making all the senses work together to create an emotion that is greater than the sum of its parts. The campaign will unfold in a phased manner and will cover all seven senses — sight, smell, sound, taste, touch, intuition and equilibrium.
10.29 am: Sensex was trading 208 points up at 24,901. According to market experts, value buying by investors and positive global cues supported market sentiment in today’s trade.
10.01 am: Mid-sized private sector lender IndusInd Bank on Tuesday reported a 30 per cent jump in December quarter net profit at Rs 581 crore driven by higher core income. Shares of IndusInd Bank were trading 3.01 per cent up at Rs 939.95 in the early trade.
IndusInd Bank has also partnered with PayU India to redefine the digital experience for Indian customers by bringing the full suite of banking products online and powering the same through payment innovations and online eco-systems enabled by PayU India. The partnership is aimed at bridging the gap between conventional banking world and the new age online payment systems. It will help bring the full suite of consumer banking products online.
9.56 am: Most of the Asian equity benchmarks are trading up in the early deals on Wednesday, as investor sentiment was boosted by the overnight gains on Wall Street and the Chinese government’s efforts to stabilize the yuan. Japan’s Nikkei index was up 431.42 points, or 2.51 per cent, at 17650.38. Hang Seng was trading 468.39 points, or 2.38 per cent, up at 20,180.15.
9.51 am: Pantaloons Fashion & Retail that was acquired by Aditya Birla Nuvo (ABNL), on Tuesday announced change in its name to ‘Aditya Birla Fashion and Retail Ltd’. Shares of Pantaloon were trading 1.83 per cent up at Rs 223.
9.46 am: The rupee recovered by 6 paise to 66.80 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange on fresh selling of the American currency by exporters and banks.
9.40 am: Private sector lender DCB Bank on Tuesday reported a 3 per cent decline in its net profit at Rs 41 crore for the quarter ended December. Shares of DCB Bank were trading 5.06 per cent up at Rs 78.90. Sensex was up 0.80 per cent, or 59.75 points, at 7,570.05.
9.32 am: Sensex was up 201.26 points, or 0.82 per cent, at 24883.29. TCS shares were trading 0.43 per cent down at Rs 2,314 in the early trade. TCS on Tuesday reported 14.2 per cent year-on-year growth in net profit at Rs 6,083 crore for October-December quarter.
9.17 am: In the 30-share index, Tata Motors, Bharti Airtel, BHEL and Reliance Industries were up over 1 per cent in the opening trade. Sensex was up 171 points at 24,853.
S&P BSE Sensex Heatmap @ 9.17 am
9.15 am: The BSE Sensex and NSE Nifty opened 122.61 points and 47.60 points up at 24,804.64 and 7,557.90 respectively. Meanwhile, US oil stumbled below $30 for the first time in 12 years to levels that threaten the survival of many US shale firms, spur more belt-tightening by oil majors and spell more pain for crude-producing nations and regions.
8.42 am: The BSE Sensex and NSE Nifty are likely to open on a positive note on Wednesday on the back of global cues.
At 8.38 am IST, SGX Nifty was trading 51 points or 0.67 per cent up at 7,588, indicating a positive start for the Indian stock markets.
Asian shares made their first real rally of the year on Wednesday after Chinese data trade data beat expectations, offering a rare shaft of light for the global economy. Japan’s Nikkei jumped 2.6 percent from a near-one-year trough, while battered Australian stocks gained 1.3 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan sped ahead by 1.6 percent and away from its lowest since late 2011.
On Tuesday, Sensex closed 143.01 points down at 24,682.03, while Nifty settled 53.55 points down at 7,510.30.
On the economy front, Consumer Price Index-based (CPI) inflation for December rose to 5.61 per cent, against 5.41 per cent in November and 4.28 per cent in December last year. Industrial output fell 3.2 per cent in November, contracting by the sharpest margin in the past four years. The Index of Industrial Production (IIP) dipped for the first time in the past 13 months in November, after registering a five-year high rise of 9.8 per cent in October.
According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net sellers of Rs 263.83 crore in index futures and options segments, as per Tuesday’s data, January 12, 2016.
FIIs were net sellers of index futures to the tune of Rs 248.47 crore and they sold index options worth Rs 15.36 crore. In the stock segment, FII’s were net sellers of stock futures worth Rs 407.89 crore, while they bought stock options worth Rs 14.67 crore.
Stocks of TCS will be in focus as country’s largest software exporter on Tuesday reported 14.2 per cent jump in net profit to Rs 6,083 crore for the third quarter of the current financial year.
(With agency inputs)