The BSE Sensex and NSE Nifty gained on Monday following Asian cues while some aggressive buying by domestic funds also lent support to the market. Sensex closed 216.68 points up at 25,735.90, while NSE Nifty settled 72.50 points up at 7834.45.
In the 50-share index, ONGC, ICICI Bank, Power Grid, Idea Cellular and Mahindra and Mahindra gained between 2.70 per cent and 3.50 per cent. On the other hand, Sun Pharma, GAIL, HUL, Asian Paints and Ultratech Cements slid between 0.50 per cent and 4.50 per cent.
Barring the BSE Healthcare index (down 0.52 per cent) and BSE Consumer Durables index (down 0.64 per cent), rest all other sectoral indices closed in green. The BSE Metal index surged the most 1.47 per cent, followed by BSE Bankex (up 1.43 per cent), BSE Realty index (up 1.38 per cent), BSE FMCG index (up 1.26 per cent) and BSE Power index (up 1.11 per cent).
Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, said, “The Market recovered from the previous day losses aided by broad based buying. The passage of GST bill in this winter session seems to be unlikely due to the current political chaos. The Market is hoping for reforms from the government which could attract foreign investments and dictate the market’s further momentum.”
In a scrip specific development, shares of Utility vehicle maker Mahindra and Mahindra (M&M) recovered after a torrid last week over a court ruling temporarily banning diesel vehicle registrations in the capital. M&M shares closed 2.64 per cent up at Rs 1277.15.
Sun Pharmaceutical closed 4.55 per cent down on BSE after the US regulators warned of standards violations at a key plant.
Miner Vedanta advanced 2.61 per cent on upbeat Chinese markets.
Market breadth for the day remained positive and advances to declines ratio for Nifty stood at 39:11 for the day. Volumes for Nifty stocks stood at 1,301 lakh against Friday’s volumes of 1,971 lakh for Nifty stocks.
Asian equity markets ended mostly in green on Monday as Chinese shares climbed to the highest level in almost four weeks after the government took unprecedented measures to prop up equities and speculation grew policy makers will take more steps to bolster the economy. Hong Kong stocks were also firm, bolstered by Chinese companies, as strength in the Chinese equity market helped investors shrug off the gloom in US and European stocks in the wake of last week’s post-Fed rate hike rally. However, Japanese stocks edged down in thin trading after the yen gained against the dollar, putting pressure on exporters after the Bank of Japan disappointed markets with minor adjustments to its massive stimulus program.
|Asian Indices||Last Trade||Change in Points||Change in %|
Markets through the day
3.30 pm: Sensex closed 216.68 points up at 25,735.90, while NSE Nifty settled 72.50 points up at 7834.45.
3.21 pm: SMS Pharma, Digjam and Nilkamal hit their new 52-week high on Monday. Sensex was up 215.64 points at 25,734.
3.18 pm: Cipla has unveiled generic tablets used for treating of hepatitis C under the brand name ‘Hepcvir-L’ costing Rs 25,000 for a bottle of 28 tablets in India. Hepcvir-L is the first once-a-day, fixed dose oral combination therapy that has been approved for chronic hepatitis C genotype 1 patient. The company’s product is a generic version of the S-based drug maker Gilead Sciences Inc’s Harvoni tablets.
2.50 pm: Shares of Adani Power surged over 8 per cent after the company announced that it has incorporated a wholly-owned subsidiary firm, Adani Power (Jharkhand) Ltd.
2.47 pm: Budget carrier SpiceJet has for the seventh consecutive month reported a seat factor of above 90 per cent in November while national carrier Air India saw seat occupancy going up by over seven per cent during the period, according to DGCA traffic data. The share price of SpiceJet was 1.56 per cent at Rs 68.30.
2.38 pm: Meanwhile, Marico hits new 52-week high of Rs 468.40. The scrip was trading 2.52 per cent up at Rs 465.85. Sensex was up 201.20 points at 25,720. Nifty was up 66.80 points at 7828.75.
2.37 pm: Emami has roped in Tennis player — Sania Mirza as a celebrity endorser for Kesh King. Sania will be endorsing the hair oil and shampoo variants of Kesh King. So far, Kesh King had brand ambassadors like Juhi Chawla and Shruti Haasan (for the southern markets). The share price of Emami was trading 0.51 per cent up at Rs 985.70.
2.04 pm: Sensex was up 206 points at 25m725. Brent crude fell to levels last seen in 2004 on Monday, dropping under the lows hit during the 2008 financial crisis on renewed worries over an oil glut, with analysts saying prices could head lower still. For sectors and stocks which may benefit from falling crude oil prices click here
1.51 pm: Sensex was up 204.53 points at 25,724. Nifty was up 63.45 points at 7,825. ICICI Bank, Power Grid and ONGC were up over 2 per cent.
1.37 pm: Share price of InterGlobe Aviation fell over 5 per cent intra-day after the low-cost carrier IndiGo on Saturday said there is no clear visibility about the delivery of A320 neos as delivery of the first aircraft has been delayed by Airbus due to “industrial reasons”. The first A320 neo was to be delivered to IndiGo on December 30. Sensex was up 171.59 points at 25,690.81.
1.33 pm: Sensex was up 173 points at 25,692. Sentiments remained up-beat on report that the government is hopeful about a substantial portion of pending legislative business being completed in the remaining three days of the Winter Session, where 18 bills are pending. Appreciation in Indian rupee too aided sentiments. However, gains remained capped up-to certain extent on uncertainty over the GST Bill continues following the standoff between the government and the Congress. The winter session of the Parliament will end on December 23.
1.23 pm: Diamond Power Infrastructure was up over 1.5 per cent on receiving order from Jaipur Vidyut Vitran Nigam. Sensex was up 180.50 points at 25,699.
12.53 pm: MBL Infrastructures (MBL) shares were trading 1.90 per cent up at Rs 219.50 after the company was awarded the Project of ‘Rehabilitation and upgradation’ from Jabalpur to Hiran River Section of NH-12 (New NH No. 45) to four -lanes with payed shoulders configuration from 10.400 km to 66.000 km (design length 55.600 kms) in Madhya Pradesh under NHDP- Ill through Engineering, Procurement & Construction (EPC) Basis Contract for the contract price of Rs 414.75 crore from Ministry of Road Transport & Highways. The execution period of the project is 24 months from the appointed date. Sensex was trading 159.74 points at 25,678.96. Nifty50 was trading 51 points at 7,812.95.
12.31 pm: Glenmark Pharmaceuticals shares were trading 1.65 per cent up at Rs 928 after it announced a patent litigation settlement with Forest Laboratories and Royalty Pharma Collection Trust over anti-depressant drug Savella. Sensex was trading 127.18 points up at 25,646.40. Nifty50 was up 40.25 points at 7,802.20.
12.11 pm: Shares of the company were trading 2.08 per cent up at Rs 29.40 after it said that it will purchase 100 per cent equity shares of Manappuram Insurance Brokers pursuant to approval received from Insurance Regulatory and Development Authority (IRDA). The regulator has given its approval to Manappuram Insurance Brokers for change in share holding pattern through its letter dated December 18,2015. Sensex was trading 152.77 points at 25,671.99. Nifty50 was trading 47.80 points up at 7,809.75.
11.51 am: Mphasis shares were trading 1.11 per cent down at Rs 491 after the company said its margins will take a hit of up to 120 basis points in the December quarter owing to recent floods in Chennai. The company has about 3,000 employees in Chennai. Sensex was trading 123.90 points up at 25,643.12. Nifty50 was trading 39.20 points up at 7,801.15.
11.42 am: Mahindra & Mahindra stocks were up around 2 per cent as the automaker will launch a series of compact petrol engines in the near future, even as its mainstay diesel line-up faces an uncertain future in the wake of SC order on pollution curb in Delhi. The company on Friday unveiled its new sports utility vehicle (SUV) christened the KUV1OO to be sold in petrol and diesel options. The BSE Auto index was up 0.59 per cent at 18,257.90. Sensex was up 119 points at 25,638.
11.31 am: United Bank of India planned to raise Rs 1,500 crore through preferential allotment of shares. The Board of Directors at its meeting on Friday approved to raise equity capital. Shares of United Bank of India were trading 0.45 per cent up at Rs 22.55.
11.29 am: Tata Motors was trading 0.15 per cent up at Rs 378.75. The automaker has entered the top-50 league of the world’s biggest companies in terms of their R&D investments, topped by German automaker Volkswagen.
11.17 am: Jubilant Life share price climbed over 2 per cent after the Reserve Bank of India (RBI) allowed foreign institutional investors (FIIs) and registered foreign portfolio investors (RFPI) to buy up to 45 per cent stake in Jubilant Life Sciences under the portfolio investment scheme.
10.46 am: IVRCL share price gained on Monday after the debt-laden infrastructure firm decided to split its engineering procurement construction (EPC) and assets business – land and Build Operate Transfer (BOT) – to float two separate companies. The share price of IVRCL was trading 6.53 per cent up at Rs 9.79. Sensex was up 157 points at 25,676. Nifty 50 index was up 52.70 points at 7,814.
10.22 am: Kesoram Industries share price soared on getting nod to raise Rs 650 crore. The scrip jumped 4.94 per cent to Rs 114.80. The company has received its board’s approval to raise around Rs 650 crore through issue of securities. The board also approved disposal and transfer of the company’s Spun Pipe and the Heavy Chemicals undertakings both located in West Bengal. Such disposal will be subject to receipt of such permissions and consents, if any, that may be required.
10.18 am: Sensex was up 119.72 points at 25,638. Nifty was up 33.45 points at 7,795. In the 50-share index, Sun Pharma, Idea Cellular, Tech Mahindra, Ultratech Cements and Wipro were down between 0.70 per cent and 5.50 per cent.
10.10 am: The 30-share index, BSE Sensex was up 54.25 points at 25,573. ICICI Bank, ONGC and M&M were among top gainers.
10.05 am: Sensex pared off its losses and was trading 47.91 points up at 25567. The benchmark index has hit a high and low of 25,584.55 and 25,413.54, respectively, in trade so far. Nifty was up 21.20 points at 7,783.
9.55 am: Brokers said profit-booking in recent gainers amid the prevailing uncertainty over passage of the GST Bill dampened sentiment. Sensex was down 13.25 points, or 0.05 per cent, at 25,505.97.
9.39 am: Rising for the fifth straight session, the rupee gained 9 paise at 66.31 against the dollar in early trade on Monday at the Inter-bank Foreign Exchange on increased selling of the US currency by exporters. Sensex was marginally down 14.73 points at 25,504. Nifty was up 1.55 points at 7,763.
9.20 am: Share price of Sun Pharma was trading nearly 6 per cent down at Rs 743.50. Sensex was marginally down 29.12 points at 25,490. Nifty was down 5.95 points at 7,756.
9.16 am: Westlife Development, owner of the Master Franchisee of McDonald’s restaurants in West & South India, will open its first McDonald’s restaurant in Raipur, Chhattisgarh on December 22, 2015 at The Magneto Mall. The restaurant will be opened by Hardcastle Restaurants, a subsidiary of the company. The share price of Westlife Development was up 1.79 per cent in the early trade.
9.15 am: The BSE Sensex and NSE Nifty opened in red on Monday tracking weak global cues. Sensex opened 93.90 points down at 25,425.32. Nifty 50 index opened 16.30 points down at 7,745.65.
Asian share markets got off to a lacklustre start on Monday following a dive on Wall Street, though losses were limited by a general lack of investor interest in a holiday-heavy week.
The US markets suffered sharp sell-off in last session mainly due to continuous decline in crude prices that weighed heavily on the energy stocks, also the global response to the Federal Reserve’s interest hike, weighed down the market. The Dow ended Friday down 2.1 per cent, while the S&P 500 lost 1.78 per cent and the Nasdaq 1.59 per cent.
Back home, the benchmark Sensex on Friday broke its 4-day winning spell by falling over 284 points after the government lowered its economic growth forecast for 2015-16 to 7-7.5 per cent. The gauge after opening lower stayed in the negative terrain during the session and finally ended 284.56 points, or 1.10 per cent, down at 25,519.22 following profit-booking in recent gainers.
The 50-share NSE Nifty cracked below the 7,800-mark by sliding 82.40 points, or 1.05 per cent at 7,761.95 after shuttling between 7,753.35 and 7,836.15.
As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 6.99 crore on 18th December 2015. Domestic institutional investors sold shares worth Rs 404.98 crore on that day.
Shares of Sun Pharma, Tata Motors and Manappuram Finance will remain in focus on Monday. Drug major Sun Pharmaceutical Industries on Friday said it has received a warning letter from the USFDA over violation of manufacturing norms in its facility at Halol in Gujarat.
Tata Motors has entered the top-50 league of the world’s biggest companies in terms of their R&D investments, topped by German automaker Volkswagen.
Manappuram Finance will purchase 100 per cent equity shares of Manappuram Insurance Brokers pursuant to approval received from Insurance Regulatory and Development Authority (IRDA). The regulator has given its approval to Manappuram Insurance Brokers for change in share holding pattern through its letter dated December 18,2015.
(With agency inputs)