The BSE Sensex and NSE Nifty closed in green marking their highest level in over three weeks as investors bought beaten-down stocks on Monday. The sentiments also remained upbeat after Finance Minister Arun Jaitley’s statement that structural reforms including GST, rationalising direct taxes and ease of doing business are among top priorities for New Year. Sensex closed 195.42 points up at 26,034 while Nifty settled 64.10 points up at 7,925.15.
In the 50-share index, Dr Reddy’s Labs, Tata Motors, NTPC, Sun Phama and ICICI Bank gained between 2.30 per cent and 3.80 per cent. On the other hand, Tata Steel, Bharti Airtel, ACC, Grasim and Idea Cellular slid between 0.80 per cent and 3.50 per cent.
Sectorwise, the BSE Telecom index fell the most — 0.96 per cent, followed by BSE Metal index (down 0.77 per cent) and BSE Capital Goods index (down 0.1 per cent). The BSE Healthcare index and BSE Auto index gained 1.34 per cent and 0.96 per cent, respectively.
Gaurav Jain, director, Hem Securities, said, “Indices started the first day of last week of 2015 on a positive note. Continued strengthening of rupee on eight consecutive trading session, buying interest by domestic investors and upsurge in index heavy weights helped the indices to stay in positive zone throughout the day.”
In the scrip specific development, Max India gained over 3 per cent following approval for its demerger from Punjab and Haryana High Court. The High Court approved Max India’s composite scheme of arrangement for demerger of company.
Tata Power shares rose 1.88 per cent after the company on Thursday signed an agreement with Russia for energy projects in the country.
Shares of Steel Strips Wheels (SSWL) gained 3.08 per cent on Monday after the company informed BSE that it has bagged an order from Mahindra Tractors for their upcoming project. In a BSE filing, the company said, “It will be an additional order for tractor wheels for domestic market. The total expected volume from this program over a period of 7 years is 3,66,000 tractor wheels. The total order value of the program would be Rs 50 crore. Mass supplies are expected from January 2017.”
Education stocks Educomp Solutions and MT Educare surged 18.06 per cent and 5 per cent, respectively.
Some support also came with the report that India could become the world’s third largest economy after 2030 and its ascension could see France and Italy kicked out of the exclusive G8 group or its membership increased to 10 to accommodate India and Brazil. India’s projected GDP in 2030 was $10,133 billion, behind America’s $32,996 billion and China at the top with a projected GDP of $34,338 billion.
Going forward, market may remain volatile as traders may roll over positions in the Futures & Options (F&O) segment from the near month i.e. December 2015 series to next month i.e. January 2015 series. The near month December 2015 derivatives contracts will expire on Thursday i.e. December 31, 2015.
Market breadth for the day remained positive and advances to declines ratio for Nifty stood at 33:16 for the day.
On the global front, European markets exhibited mixed trend in early deals after re-opening, following the Christmas holiday, with investors seen as reluctant to place strong bets in thin year-end trading. However, Asian markets ended mostly in red amid lack of immediate directional cues in light year-end trade, although Japanese shares managed to rise following a rebound in crude oil prices from multiple-year lows.
|Asian Indices||Last Trade||Change in Points||Change in %|
——————————————————————————————————–Markets through the day
3.30 pm: Sensex closed 195.42 points up at 26,034 while Nifty settled 64.10 points up at 7,925.15.
3.13 pm: Kaveri Seed shares were trading over 6 per cent up at Rs 366.90. Sensex was up 200 points at 26,039.
3.05 pm: GMR Infrastructure was trading in green after the company stated that it has executed agreements for the proposed restructuring of holdings in GMR Airports. The scrip was trading 0.31 per cent up at Rs 16.10. Sensex was up 163.81 points, or 0.63 per cent, at 26,002.
2.37 pm: Sensex was up 166.09 points at 26,004.80. Nifty was up 50 points at 7912. Educomp Solutions was trading nearly 10 per cent up at Rs 15.63. MT Educare was up 4.50 points at 188.10.
2.25 pm: Traders were seen piling position in Auto, Bankex and Oil & Gas stocks, while selling was witnessed in Metal and Capital Goods sector stocks.
2.02 pm: Sunil Hitech Engineers gained over 1 per cent after it announced that it has bagged order worth Rs 83 crore for construction of 2,000 units G+3 (four Storey) Visthapit Awas by Jharia Rehabilitation and Development Authority, Dhanbad, Jharkhand. The project is likely to be executed over a period of 24 months. Sensex was up 155 points at 25,993. Nifty was up 47.65 points at 7,908.
1.47 pm: Aurobindo Pharma received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Famotidine Tablets USP, 20 mg and 40 mg. The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Pepcid Tablets, 20 mg and 40 mg, of Valeant Pharmaceuticals International, Inc. The scrip of Aurobindo Pharma was trading 0.07 per cent up at Rs 871.85.
1.21 pm: Telecom sector was in red. Bharti Airtel fell 1.86 per cent and Idea Cellular was down 0.85 per cent after Reliance Industries rolled out its 4G network for employees, a move seen by many as a soft launch and precursor to full-scale launch next year. Reliance Industries (RIL) shares were up 0.60 per cent.
12.56 pm: Domestic equity markets continued to trade in green with a gain of over half a percent in afternoon deals. The benchmarks after making a start on a positive note has been strengthening gradually with no sign of any profit taking till yet and Nifty once again hitting the crucial psychological mark of 7,900. Sentiments remained up-beat with Finance Minister Arun Jaitley’s statement that structural reforms including GST, rationalising direct taxes and ease of doing business are among top priorities for New Year. Sensex was up 135 points at 25,974. Nifty was up 41.80 points at 7,902.
12.33 pm: Meanwhile, PTC India Financial Services Limited (PFS), a leading Infrastructure Finance Company, announced that it has sanctioned loans aggregating to about Rs 825 crores for providing financial assistance to power or infrastructure sector in India. The share price of PTC India Financial Services was trading 3.49 per cent up at Rs 40.05.
12.29 pm: SpiceJet shares were trading 2.31 per cent at Rs 70.95 after the airline’s chairman Ajay Singh said that it hopes to place order for new planes this fiscal.Sensex was trading 140.88 points at 25,979.59. Nifty ws trading 43.85 points up at 7,904.90.
12.14 pm: Future Consumer Enterprise Limited was trading 3.05 per cent down at Rs 25.40 after the company on Sunday said it plans to raise around Rs 368 crore from promoters and PE fund Black River Food 2 Pte Ltd to finance its various expansion plans and business initiatives. Sensex was trading 146.46 points up at 25,985.17. NSE Nifty was trading 45.25 points up at 7,906.30.
11.32 am: Bosch India shares were trading 0.96 per cent up at Rs 18409.70 after the company said it plans to suspend all production activity at its Jaipur plant for eight days from December 26 in order to adjust to the market demand. Sensex was 114.24 points up at 25,952.95. NSE Nifty was up 35.35 points at 7,896.40.
11.03 am: Allcargo Logistics hit new 52-week high of Rs 417. The scrip was trading 4.28 per cent up at Rs 414.35. Sensex was up 121.90 points at 25,960.
10.51 am: Sensex was up 131 points at 25,970. Bodal Chemicals has incorporated a new manufacturing plant taken on a lease located at Piludra, Taluka — Jambusar, District– Bharuch, Gujarat. With this new plant, the company now has 9 facilities located across Gujarat. The new facility has been in operation and the company is looking forward to continue it to enhance productions capacity. The share price was trading nearly 2 per cent up in the early trade.
10.22 am: Brokers said value-based buying at some blue-chip counters and the rupee rising for the eighth straight session accelerated the upmove. Besides, covering-up of pending short positions by speculators ahead of the futures and options expiry on Thursday supported the upside, they said.
9.56 am: Nifty was up 39.90 points at 7,900.95. In the 50-share index, Tata Power, Tata Motors, ICICI Bank, Lupin and NTPC were up between 1 per cent and 2.75 per cent. On the other hand, Idea Cellular, Tata Steel, Bharti Airtel, Asian Paints and Axis Bank were down between 0.15 per cent and 0.95 per cent.
9.51 am: The rupee continued to rule higher against the American currency for the eighth straight session as it rose 11 paise to 66.10 in early trade at the Inter-bank Foreign Exchange on Monday on increased selling of the US currency by exporters and banks.
9.48 am: KEI Industries gained over 4 per cent after the company informed BSE that it has bagged an order worth Rs 384.53 crore from Power Grid Corporation of India for supply and service contracts for package A & B under integrated power development scheme (IDPS) works in Varanasi, Uttar Pradesh.
9.43 am: State-owned GAIL India will take 5 per cent stake in the international consortium building the $8.7 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. The four nations building the pipeline had in August agreed to co-own the project and a joint venture company with participation of each country is to be set up to build and operate the 1,814-kilometre line. The TAPI pipeline will have a capacity to carry 90 million standard cubic metres a day (mmscmd) gas for 30 years and is planned to become operational in 2018. Shares of GAIL India were trading 1.53 per cent up at Rs 367.80 in the early trade.
9.40 am: Oil India (OIL) and Indian Oil Corporation (IOC) have entered into a memorandum of understanding (MoU) with Russian national oil company Rosneft for cooperation in geologic survey, exploration and production of hydrocarbons in select onshore areas in Russia. The MoU document lays the foundation for a long-term partnership between Indian Oil, OIL and Rosneft. As a first step, the parties have agreed to examine the possibility of cooperation in respect of the Taas-Yuryakh Neftegazodobycha LLC asset. IOC was trading 0.17 per cent down at Rs 432.60. Oil India was up 0.10 per cent at 388.05.
9.34 am: Pipavav Defence shares gained over 7 per cent in the early trade on Monday after the company informed BSE on Thursday post market hours that it is in advanced negotiations with global customers, including Russian organisations, for multi-billion dollar contracts for building frigates and meeting other naval defence requirements for the country. The scrip hit new 52-week high of Rs 114 in the early trade. Sensex was up 130 points at 25,969.
9.26 am: Share price of Tube Investments hit its fresh 52-week high of Rs 445.05 after the Chennai-based company on Friday announced that it sell 14 per cent of Cholamandalam MS General Insurance to its joint venture partner Mitsui Sumitomo Insurance Company of Japan for Rs 882.67 crore. The company’s board has approved the stake sale. On completion of the deal, Mitsui Sumitomo will increase its ownership in Chola MS to 40 per cent from 26 per cent. Cholamandalam MS offers products that include accident, engineering, health, liability, marine, motor, property, travel and rural insurance for individuals and corporates.
9.21 am: SMS Pharma hits new 52-week high of Rs 137.50 on Monday. The scrip was trading 7.32 per cent up at Rs 132 in the early trade. SMS Pharmaceuticals has received approval from the US Food and Drug Administration (USFDA) for its manufacturing facility located at Kandivalasa village in Vizianagaram district of Andhra Pradesh. The USFDA had conducted inspection of the plant in the third week of April this year. The BSE Healthcare index was up 0.26 per cent at 16,768.69.
9.17 am: Nifty was up 19.75 points at 7880.80. Sensex was up 103 points at 25,941. Tata Power has signed a memorandum of understanding (MoU) with the Ministry of Development of Russian Far East to explore and develop investment opportunities in the energy sector. Shares of Tata Power were trading 2.34 per cent up at Rs 67.90.
9.16 am: Max India was trading 5.02 per cent up at Rs 521 in the early trade. Max India on Thursday said it has got High Court approval for restructuring and the company’s demerger into 3 separate listed entities will be effective from January.
9.15 am: The BSE Sensex and NSE Nifty opened on a flat note on Monday Asian markets. Sensex opened 19.81 points up at 25,858.52. Nifty opened 2.15 points up at 7,863.20.
Asian stocks were steady in quiet trade on Monday, drawing heart after a rebound in crude oil that took prices away from multi-year lows.
Domestic markets on Thursday ended almost flat with marginal losses pulled
down by banking shares after a RBI report raised concerns over corporate vulnerability and bad loans. The benchmark BSE Sensex slipped from a three-week high by giving up early gains to close 11.59 points down at 25,838.71. Markets were closed on Firday for Christmas.
According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net buyers of Rs 97.58 crore in index futures and options segments, as per Thursday’s data, December 24, 2015.
FIIs were net buyers of index futures to the tune of Rs 354.39 crore and they sold index options worth Rs 256.81 crore. In the stock segment, FII’s were net buyers of stock futures worth Rs 100.66 crore, while they sold stock options worth Rs 70.76 crore.
(With agency inputs)