Tuesday, 10 January 2017

Sensex gains 123 points; oil & gas, infrastructure stocks steal the show

The Nifty and the Sensex opened and traded flat to positive amid firm Asian cues. The Nifty opened 27 points up at 8,263, while the Sensex opened 85 points up at 26,812.

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The 30-share BSE index Sensex was up 126.79 points or 0.47 per cent at 26,853.34 and the 50-share NSE index Nifty was up 35.8 points or 0.43 per cent at 8,271.85.

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A report by Angel Broking said: "US markets had a mixed session with energy stocks moving downward on lower oil prices. The NYSE Arca Natural gas Index fell 2.4 per cent, while the NYSE Arca Oil & Gas Index slid 1.4 per cent. Lack of economic data as well as upcoming earnings updates from financial giants Bank of America (BAC), JPMorgan Chase (JPM), and Wells Fargo (WFC) kept trading activity low during the session.

The FTSE closed positive in spite of negative news regarding Brexit and economic data. The British pound drifted lower on worries over the likelihood of a "hard Brexit'', after comments by the UK Prime Minister. British house price inflation accelerated unexpectedly at the end of the year. House prices climbed 6.5 per cent in three months to December YoY. This was against an expected inflation of 5.8 per cent."

All the broader and sectoral indices mirrored the same trend-flat to positive. Volatility was down 1.38 per cent with the India Vix ruling at 15.2650.

Among BSE sectoral indices, oil & gas index gained the most by 1.75 per cent, followed by infrastructure 1.1 per cent, metal 1.05 per cent and PSU 1.02 per cent.

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