Thursday, 15 December 2016

Live Stock Market Updates - Sensex, Nifty regain, IT stocks up

The S&P BSE Sensex is trading at 26666 up 63 points, while NSE Nifty is trading at 8,205 up 23 points.

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In a positive turn of events, Sensex and Nifty regained back from the losses it made at the start of the market hours and are now trading in green.

Asian markets opened weak with the exception of the Japanese 'Nikkei" index which traded higher on the back of a weaker yen. Initial reaction to the Federal Reserve rate hike saw bond yields rise and the US $ get stronger which as a follow through will see most Asian indices trade in the red. Gold prices hit new 1 year lows and oil prices also traded near US $ 50 which should see return of smart money to equity with Asian stocks becoming value picks after the sharp under performance.

Commodity market tips

After almost ending the markets on a high note, following the hawkish US Fed rate outlook, benchmark indices of the US, ended on a lower note. The US central bank said it now sees interest rates rising by 75 bps in 2017 compared to a hike of 50 bps estimated earlier. The US Federal Reserve raised interest rates for the second time in a decade by 25 bps. S&P 500 ended at 2253.2 down 0.81%, Dow Jones Industrial Average closed at 19792.5 down 0.60% and Nasdaq Composite ended at 5436.6 down 0.50%.
Foreign institutional investors (FII) net sold index futures worth Rs 797.7 million, but bought stock futures worth Rs 1.1 billion on the NSE. FIIs net sold index options worth Rs 20 billion, while FIIs net sold Indian shares worth Rs 6.3 billion on the BSE, NSE, and Metropolitan Stock Exchange combined. Domestic institutional investors (DII) net bought shares worth Rs 2.1 billion. Following the US Fed rate hike, all Indian ADRs end down 1-3% on Wednesday tracking weakness in US markets. In losing list, HDFC Bank, Sify and Vedanta were the worst performing, paring over 2% each.

The S&P BSE Sensex is trading at 26666 up 63 points, while NSE Nifty is trading at 8,205 up 23 points. A total of 10 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

Out of 1879 stocks traded on the NSE, 467 declined, 998 advanced and 414 remained unchanged today.

The BSE Mid-cap Index is trading up 0.38% at 12287.50, whereas BSE Small-cap Index is trading up 0.60% at 12190.68.

Some buying activity is observed in Information Technology, Auto, Bank, Telecommunications, Consumer Durables sectors, while Healthcare, FMCG, Basic Materials, Utilities, Power are showing weakness on BSE.

TCS, Adani Ports, Infosys, HCL, M&M, Bajaj Auto, SBI, Bank of Baroda are among the gainers, whereas Sun Pharma, Bharti Airtel, ONGC, Tata Motor DVR, Zee, HUL are losing sheen on NSE.

The INDIA VIX is down 5.99% at 15.5975.

The SGX Nifty 50 December futures were marginally up today.

Buzzing Stocks:

Infosys stocks up +1.53%, Company makes announcement on investment plans in ideaForge.

An overwhelming majority of shareholders of Tata Consultancy Services (TCS) voted to oust Cyrus Mistry as Director from the company’s board at the company’s extraordinary general meeting (EGM) held in Mumbai.

The US drug regulator has flagged serious problems with the testing programmes at drugmaker Sun Pharma's manufacturing facility at Halol.

Bharti Airtel and Vodafone India are pushing ahead the government's broad agenda to move towards cashless economy, at a time when demonetisation has crippled cash payments due to inadequate cash in the system.

Bajaj Electricals has entered into a strategic alliance with the UK-based firm Gooee to create lighting products and solutions on the Internet of Things (IoT) platform.

NTPC has lined up investments worth Rs 26.48 bn for developing three coal blocks in Odisha.

Lupin has received approval from the US health regulator to market its Desoximetasone ointment, used for providing relief from inflammation and itching in a skin disease.

Indian Oil Corp sought up to 80,000t of 40ppm sulphur diesel for delivery in late December.

Welspun India Ltd announced its foray into flooring solutions with an investment of Rs6bn to set up a manufacturing facility for carpets, area rugs and carpet tiles at Anjar in Kutch district of Gujarat.

Wipro chief executive has split the information technology (IT) major's India and Middle East (West Asia) business in two. And, carved a separate hyper automation group by consolidating the Artificial Intelligence (AI) assets such as Holmes that would be headed by its chief technology officer, K R Sanjiv.

NTPC has decided to replace over 25-year-old power plants totaling 11GW capacity in the next five years at an investment of Rs 500 billion.

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