Sensex, Nifty Jump Most In 3-Weeks As Defensives Lead Fightback
Asian equities climbed, led by Japanese stocks after the yen halted a four-day advance.
Market Wrap
Closing Bell
A strong last-hour surge led to Indian shares climbed the most in nearly three-weeks led by the so-called defensives as some investors deemed the benchmarks' longest losing streak in over one-and-a-half years excessive.
The S&P BSE Sensex gained 1.6 percent to 26,213 while the NSE Nifty advanced 1.6 percent as well to 8,032. The market breadth was firmly in favour of the buyers with 1,164 advances, 435 declines and 291 stocks remaining unchanged.
All 19 sectoral gauges on the BSE advanced, led by the FMCG and Metal indexes.
Europe Opens Higher
BQPoll Of The Day
Rupee Extends Losses
The rupee slipped further by 14 paise to 67.88 against the US currency in late morning deals following bouts of month-end dollar demand from banks and importers amid continued capital outflows.
Earlier, the Indian rupee opened lower by 10 paise at 67.84 as against Monday's closing of 67.74 at the Interbank Foreign Exchange (Forex) Market.
The domestic unit hovered between 67.88 and 67.8150 per dollar during morning deals before quoting at 66.88 per dollar at 1025 hrs.
City Gas Distributors In A Sweet Spot
BQSpotted
Trigyn Technologies: 4 Straight Lower Circuits
- Hit its lower circuit of 5 percent today
- The stock has hit the lower circuit in the last three sessions
- Trading at Rs 98.4, which is below its 200-DMA of Rs 102.55
- Software development company with market cap of Rs 293 crore
Movers & Shakers: Shilpa Medicare, Divi’s Labs, Railway Stocks And More
Opening Bell
Indian shares climbed tracking a rebound in Asian equities led by drugmakers amid thin volumes as financial markets close out a volatile year.
The S&P BSE Sensex gained 0.3 percent to 25,898 while the NSE Nifty advanced 0.3 percent as to well 7,935. The market breadth was encouraging with more buyers than sellers as 883 stocks advanced, 498 declined and 467 remained unchanged on the NSE.
Stocks To Watch
- Apollo Hospitals: Issues Rs 37.1 crore letter of comfort for credit to dental unit
- Capital First: To consider fund raising plan on Dec. 29
- NTPC: Signs 160 MW PPA with Nepal Electricity Authority
- Empee Distilleries: Withdraws plan to sell shares in Empee Hotels
- Future Enterprises: Transferred 16.09 percent of FLFL to Future Corp.
- ITD Cementation India: Shareholders approved giving loan up to Rs 2,500 crore
- Jindal Poly Films: To raise up to Rs 500 crore rupees via NCDs
- JSW Energy: To consider raising funds via NCDs
- Shilpa Medicare: Allots 30.25 million shares at Rs 569 apiece, premium to TA FII investors
For a complete list of stocks to watch, click HERE
Talking Points
- RBI announces 60-day grace period for some farm loans in view of currency note ban
Also Read: Modi own goal swamps India’s big-bang year, clouds 2017 outlook
- Global funds sell Rs 1,095 crore of local stocks; domestic funds buy Rs 1065 crore yesterday: Provisional data
- India FY17 power distribution capex may rise 22 percent YoY: Crisil
- Bhatinda Refinery said to eye Rs 5,000 crore expansion (Mint)
- Power Finance defers 3-part rupee bond sale
Good Morning!
The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, edged 0.1 percent higher to 7,923.
Asian equities climbed, led by Japanese stocks after the yen halted a four-day advance while oil continued the longest winning streak in four months as major financial markets began to reopen after a long holiday weekend.
Consumer prices in Japan fell for the ninth straight month indicating that the economy still lacks the pace to reach the two percent target set by the Bank of Japan.
Trading is expected to be thin this week as financial markets close out a volatile year. U.S equities are trading near a record, the dollar is around a multiyear high and crude oil has climbed to a 17-month peak as traders have powered past stocks from the Brexit vote in U.K. to Donald Trump’s in the U.S. presidential election.
Gold rose 0.2 percent to $1,135.51, still trading the lowest level since February.