Sensex, Nifty end flat in a volatile trade; Srei Infra jumps over 13%

The BSE Sensex and NSE Nifty closed on a flat note with marginal gains in a volatile trading session on Tuesday, while participation remained weak due to year-end holidays and the derivatives contracts expiry later this week. Sensex closed 45.35 points up at 26,079.48, while Nifty settled 3.80 points up at 7,928.95.

In the 50-share index, Bajaj Auto, Ambuja Cements, Grasim, ACC and M&M gained between 1.25 per cent and 1.75 per cent. On the other hand, HCL Tech, BHEL, Coal India, Power Grid, Dr Reddy slid between 0.95 per cent and 1.75 per cent.

Among the sectoral indices on the BSE, the BSE Realty index fell the most — 0.92 per cent, followed by BSE Capital Goods index (down 0.46 per cent), BSE FMCG index (down 0.42 per cent) and BSE Metal index (down 0.42 per cent). The BSE Telecom index and BSE Auto index gained 0.72 per cent and 0.56 per cent, respectively.

Shreyash Devalkar, fund manager, equities, BNP Paribas Mutual Fund, said, “Key benchmark indices remained indecisive in today’s trade, oscillating between the negative and the positive zones. Gains in European stocks triggered a recovery on domestic bourses even as US stocks edged lower yesterday, weighed down by a drop in energy stocks as crude oil prices fell.”

Gaurav Jain, director, Hem Securities, said, “Bulls continue to rule the Indian benchmarks in line with its global partners. Government’s efforts to boost the economic growth has clearly started bearing fruits; thereby raising the confidence level of the common investors. Domestic investors continue to show their buying interest which helped the indices to continue their northward journey.”

Mahindra & Mahindra gained 1.70 per cent while Bajaj Auto advanced 2.02 per cent ahead of their monthly auto sales numbers this week.

Meanwhile, United Breweries (Holdings) plunged more than 4 per cent while United Spirits slipped 2.69 per cent after the Supreme Court upheld the Kerala High Court’s alcohol ban order.

Select stocks from infra pack too edged higher, with the eight-member Vijay Kelkar Committee coming up with host of recommendations, including a review of the model concession agreements, allowing fund raising through zero coupon bonds and setting up of independent sectoral regulators.

Asian equity markets ended mostly higher on Tuesday as gains in health-care shares overshadowed losses in raw-material producers. China stocks closed higher after lawmakers approved a proposal to reform stock listings and the People’s Bank of China said it would ‘flexibly’ use various policy tools to maintain appropriate liquidity and keep the Yuan stable. Japanese shares ended a choppy session higher as investors bought domestically-focused stocks and avoided taking large positions as the year draws to a close. Hong Kong stocks ended modestly higher, helped by calmer trading in mainland China after a sharp fall in the previous session.

——————————————————————————————————–

Markets through the day

3.30 pm: Sensex closed 45.35 points up at 26,079.48, while Nifty settled 3.80 points up at 7,928.95.

3.25 pm: The sentiments were on up-beat note on government’s expectation that FDI inflows will rise by 40-45 percent in the New Year while further steps could be on anvil to attract foreign capital. As per the latest available figure for 2015, FDI inflows during January-September period has increased by 18 percent to $26.51 billion. Sensex was up 50.55 points at 26,084.

3.01 pm: Traders were seen piling position in Auto, Oil & Gas and Bankex stocks, while selling was witnessed in Realty, FMCG and Consumer Durables sector stocks.

2.42 pm: Sensex was up 64 points at 26,098. The BSE Midcap and BSE Smallcap index were 0.51 per cent and 0.01 per cent.

2.13 pm: INOX Leisure informed BSE that it has commenced the commercial operations of a Multiplex Cinema Theatre, taken on Lease basis, and located at Osia Commercial Arcade, SGPDA Market Complex, Margao, Goa with effect from December 29, 2015. The said Multiplex Cinema Theatre has 2 screens and 335 seats. Shares of INOX were trading 1.31 per cent down at Rs 240.20. Sensex was up 74 points at 26,108. Nifty was up 11.95 points at 7,937.

2.06 pm: Shares of Srei Infrastructure Finance advanced as much as 13.54 per cent on Tuesday after the company updated stock exchanges regarding the share purchase agreement which is executed between Srei Infrastructure Finance, BNP Paribas Lease Group, Srei Equipment Finance, Srei Growth Trust, Hemant Kanoria and Sunil Kanoria. Sensex was up 68 points at 26,102.

1.52 pm: Shares of Tide Water Oil surged as much as 17 per cent on Tuesday to hit a new all-time high of Rs 28,251. The scrip climbed over Rs 10,000 in five trading sessions. Shares were trading 15.84 per cent up at Rs 27,977 in the afternoon trade. Sensex was up 43.26 points at 26,077.

1.35 pm: State-owned oil marketing companies:  Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) were trading higher on reports that they might jointly set up a mega refinery at Ratnagiri in coastal Maharashtra.

1.25 pm: Witnessing a bout of selling pressure, equity markets have now pared all of its initial gains. Sensex was marginally down 6.25 points at 26,027. Nifty was down 12.25 points at 7,912.

1.20 pm: Sentiments turned choppy amid absence of any fresh triggers as traders maintained a cautious stance ahead of the expiry of December F&O contracts. Karthik Rangappa, vice president, education and research, Zerodha said, “The 7900 Put Option on Nifty still has a large open interest, implying that traders expect Nifty to close below 7900 for the December Series.  Considering this, one can look at shorting Call Option strikes above 8000 and holding it till expiry. Likewise considering maximum open interest at 17,000 Bank Nifty is likely to expire below this level for the December series. Traders with large risk appetite can consider writing Bank Nifty’s 17,200 call option.”

12.55 pm: Shares of Reliance Capital and Saregama India were trading 1.58 per cent and 0.99 per cent up at Rs 425.45 and Rs 18.75, respectively, after the financial services major acquired 6.82 per cent stake in popular music publishing label for Rs 43.17 crore through open market transactions. Sensex was trading 32.01 points down at 26,002.12. Nifty was trading 18.75 points down at 7,906.40.

12.08 pm: Suven Life Sciences shares were up 2.44 per cent at Rs 268.35 after it was granted a patent each by Europe and Macau for drug used in the treatment of disorders associated with neurodegenerative diseases. Sensex was trading 2.38 points up at 26,036.51. NSE Nifty was trading 7.70 points down at 7,917.45.

11.37 am: Stocks of liquor companies were trading lower after the Supreme Court on Tuesday affirmed the Kerala government’s new excise policy restricting the sale and consumption of liquor at the bars in five star hotels only, thereby ejecting other liquor bars from business. Stocks of United Spirits, United Breweries and Tilaknagar Indusrties were trading 1.14%, 1.38% and 1.69% down. Sensex was trading 36.55 points up at 26,070.68. Nifty was trading 1.55 points up at 7,926.70.

11.10 am: Credit Analysis and Research (CARE) shares gained over 2 per cent after the company announced that CARE and Japan Credit Rating Agency have signed a Memorandum of Understanding on December 29, 2015 to collaborate with each other as strategic business partners and have agreed to cooperate with each other to maximize their support for the Indian and Japanese companies’ funding and other business activities. Sensex was up 81.67 points at 26,115.

10.48 am: In the 50-share index, NTPC, Vedanta, Bajaj Auto, Wipro and GAIL were up between 1.05 per cent and 1.40 per cent. On the other hand, HUL, HCL Tech, ONGC, Cairn India and Power Grid were down between 0.48 per cent and 0.91 per cent.

10.38 am: The 30-share index Sensex was trading at 26,089, up 54.96 points, while broad-based 50-share index Nifty was quoting at 7,933.65, up 8.50 points.

10.18 am: Sensex was up 60 points 26,094. The covering-up of short positions by speculators ahead of the monthly expiry in the derivatives segment on Thursday supported the upside.

10.12 am: MTNL is all set to offer free incoming calls while roaming across the country for its subscribers starting from January 1, 2016. At present, telecom firm’s users have to pay roaming charges for incoming calls outside Delhi and Mumbai, where the company operates. Another telecom PSU — BSNL announced such a scheme – free incoming calls on roaming — in June this year. The share price of MTNL was trading 0.91 per cent up at Rs 22.10 in the morning trade.

10.10 am: Halting its 8-day rising streak, the rupee traded lower by 13 paise at 66.32 against the dollar in early trade at the Interbank Foreign Exchange on month-end demand for the US currency from importers amid capital outflows.

9.59 am: In a regulatory filing, Jindal Steel & Power (JSPL) on Monday said its board has allowed lenders of its arm Jindal Power Ltd to convert their debt into equity in its power project at Tamnar, Chhattisgarh in case of default. JSPL shares were trading 0.61 per cent up at Rs 91.15.

9.58 am: Drug major Lupin has received US health regulator’s approval to market Fyavolv tablets, used to treat postmenopausal osteoporosis, in the American market. The share price of Lupin was trading 0.34 per cent up at Rs 1,847.50.

9.45 am: The BSE Sensex gained as much as 99.65 points in the early trade on Tuesday. The benchmark index had hit a high and low of 26,133.78 and 26,065.08, respectively, in trade so far.

9.43 am: Market breadth was positive with 21 of the 30 Sensex components trading in green.

9.39 am: National Buildings Construction Corporation (NBCC) has received Letter of Award (LOA) worth Rs 328.08 crore for Permanent Township Package for Nabinagar Super Thermal Power Project (3x660MW). Nabinagar Power Generating Company, a joint venture of NTPC and Bihar State Power Generation Company, awarded the work of Permanent Township Package for Nabinagar Super Thermal Power Project (3x660MW) to the company. The share price of NBCC was trading 1.11 per cent up at Rs 1,007.95 in the early trade. Sensex was up 45.30 points at 26,079.

At 52-week high: Stocks of NIIT, Everest Kanto Cylinders, Aurobindo Pharma, Digjam and IGL hit their new 52-week high in the early trade on Tuesday.

9.22 am: Stocks of the IT major Infosys will be in focus as the company on Monday announced the launch of its solar PV power plant of 6.6 MW capacity at its Pocharam campus in Telangana. The share price of Infosys was trading 0.12 per cent down at Rs 1,100.30. Sensex was up 71 points at 26,105.10. Nifty was up 10.35 points at 7,935.50.

9.15 am: Domestic equity markets opened on a positive note on Tuesday. Sensex opened 41.55 points up at 26,075.68. Nifty opened 4.05 points up at 7,929.20.

9.06 am: For a list of stocks that could see some market action today click here

8.48 am: The BSE Sensex and NSE Nifty are likely to open in green on Tuesday tracking SGX Nifty and mixed Asian markets.

At 8.23 am (IST), SGX Nifty was up 28.50 points, or 0.36 per cent, at 7,926.50.

Asian stocks were mixed on Tuesday, with Japanese and South Korean equities slipping, after crude oil prices resumed their slide and cooled investor sentiment. Hang Seng was up 0.27 per cent at 21,977.85. On the other hand, Shanghai was down 0.21 per cent at 3,526.35.

The Dow dipped 0.1 per cent and the S&P 500 lost 0.2 per cent overnight after trading resumed following the Christmas break, but activity is expected to remain thin until after the long New Year holiday weekend.

On the domestic front, Sensex closed 195.42 points up at 26,034 on Monday, while Nifty settled 64.10 points up at 7,925.15.

As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 302.62 crore on Monday. Domestic institutional investors bought shares worth Rs 987.82 crore on that day.

(With agency inputs)