Nifty Settles Below 10,450; SBI, Axis Bank Among Top Losers
Indian equity benchmarks were little changed as gains in Tata Motors, ONGC and Coal India were offset by losses in State Bank of India, Axis Bank and Maruti Suzuki. Meanwhile, the rupee rose to 63.51, its highest level in over two years, against the U.S. dollar.
The S&P BSE Sensex was little changed at 33,812 and the NSE Nifty 50 Index was also little changed at 10,442. The mid-cap and small-cap shares underperformed their large-cap counterparts as the S&P BSE MidCap and the S&P BSE SmallCap Indices fell 0.6 percent each.
Fourteen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Telecom Index's 1.4 percent drop. On the other hand, the S&P BSE Metal Index was the top sectoral gainer, up 0.6 percent.
European Shares Slide
Fab Four Stocks Of The Day
- Bajaj Hindusthan Sugar: The sugar maker rose as much as 17 percent, the most since May 25, to Rs 18.80 after the company said that it has successfully implemented S4A scheme.
- Ramco Systems: Shares of the Chennai-based IT company rose as much as 8.6 percent to Rs 570.95 after it secured order from Papillon group, world’s largest aerial sightseeing company, for the maintenance and engineering operations of its fleet, the company said in an exchange filing.
- Ashok Leyland: The Chennai-based commercial vehicle maker rose nearly 4 percent to Rs 123.40 after its December sales rose 79 percent to 19,253 units compared with 10,731 units during the same period last year.
- Varun Beverages: The beverage maker extended its winning streak to day six the stock has risen as much as 16 percent to record high of Rs 761.55.
Rupee Hits Two-And-A-Half Year High
Stocks Moving On Heavy Volumes
Advanced Enzyme Technologies
- Stock rose as much as 15.5 percent to Rs 321.50.
- Trading volume was 26.6 times its 20-day average.
- Stock rose as much as 16.2 percent to Rs 761.55.
- Trading volume was 17.9 times its 20-day average.
- Stock rose as much as 18.3 percent to Rs 74.25.
- Trading volume was 20.5 times its 20-day average.
Eros International Media
- Stock rose as much as 8.6 percent to Rs 220.90.
- Trading volume was 10 times its 20-day average.
Mideast Integrated Steel
- Stock rose as much as 5 percent to Rs 78.90.
- Trading volume was 9.4 times its 20-day average.