Live Stock Market Updates
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.
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.
At 9:52 AM, 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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