Share indices ended at their highest level in four weeks, buoyed by positive cues from global markets and weak dollar. Most indices in the Asian region also ended higher. Today’s rise was also aided by expectation that the ECB will announce a six-month extension to its bond-buying program.
Nifty closed with a gained 144 points and closed at 8,246, while BSE Sensex ended with a gain of 457 points at 26,694.
On the global front, most Asian indices closed in green except Strait Times that ended in red and marginally down. In Europe, the FTSE 100 was up 0.07%. CAC 40 and DAX was up 0.19% and 0.41% respectively while, the US Nasdaq was also up 1.13%.
Japan’s main stock benchmark rose to a new high for 2016 after continued optimism surrounding U.S. President-elect Donald Trump’s economic policies helped lift Wall Street shares to a record high overnight. The Nikkei 268.78 points to 18765.47, its highest level since December 30, 2015.
Globally, eyes are on the European Central Bank, where industry hopes that the committee will extend its asset purchase program at its policy meet. Industry is expectant that the ECB will continue its monthly asset purchases and hope it extends forward to March 2017.
The market received the required impetus following the buying ensued by FIIs and DIIs. Buying activity was observed in the market throughout the day, which helped the benchmark indices to have a bull run and close on a strong positive note.
Cashless beneficiary sectors like IT stocks including Nucleus Software, Quick Heal, HCL, Infosys had a positive uptrend throughout the day gaining above 4%. Following stocks were the performers of the day – Reliance, ONGC, Vedanta, Tata Steel, Tata Motor DVR, Tata Motor, Mothersun Sumi, Bharat Forge, Hindustan Zinc, Godrej Properties, Indianbulls Real Estate, PowerFinance Corporation, LIC, ITC.
All sectoral indices on Nifty were trading up with Nifty Auto and Nifty Metal stocks leading the pack. In general, auto stocks were top gainers on NSE.
Gold was trading at Rs 27,846 per 10 gms and silver was trading at Rs 41,627 per kg.
The Indian rupee trading at 67.32 per US dollar.
Out of 1528 stocks traded on the NSE, 299 declined and 1178 advanced today.
Top 5 Nifty Gainers: Infosys Ltd. (1.67%), ITC Ltd (1.31%), ONGC (1.11%), Tata Motors (0.89%) and ICICI Bank (0.69%).
Top 5 Nifty Losers: Bajaj Auto (-1.22%), Coal India (-1.19%), HDFC (-1.17%), Hero Motocorp (-0.80%) and HDFC Bank (-0.71%)
To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9891224488.