The key benchmark indices snapped a seventh-day losing streak on Friday and ended on a positive note. The Nifty50 closed slightly up at 7,985, after briefly recapturing the 8,000 level.
NSE Nifty opened at 7,973 hitting a high of 8,023 and low of 7,942., while BSE Sensex ended with a gain of 61 points at 26,041.
fter opening on a negative note indices remained under pressure and slipped lower in the first half. However, as the day progressed, late bout of buying in the capital goods, consumer durables, oil & gas, auto, finance and utilities stocks lifted the benchmarks. On the other hand, IT, realty, FMCG, technology and pharma stocks were under pressure.
The equity benchmarks erased some gains in afternoon trade due to lack of domestic as well as global cues ahead of Christmas holiday.
Among the 50-stocks of Nifty, Cipla, Bosch, Maruti Suzuki, Sun Pharmaceuticals, Bajaj Auto and L&T were among the gainers on NSE, whereas Axis Bank, HCL Tech, Eicher Motors, Aurobindo Pharma, Tech Mahindra, Hindalco and UltraTech Cement were among the losers today.
On the global front, Asian stocks closed on mixed note. The Shanghai Composite index dropped 1%, Hong Kong’s Hang Seng and Nikkei 225 index closed marginally lower.
In Europe, the FTSE 100 was trading marginally lower. DAX and the CAC 40 were trading in green.
Sun Pharma soared 2.4% after it acquired 14.58% stake in US company scPharmaceuticals for USD 13 million.
Cipla stock rallied 4%. The pharma company has yielded a final approval for its lead MDI product Fluticasone + Salmeterol (Sereflo) from UK MHRA for its partner in the UK. Sereflo, 25 mcg/125 mcg & 25 mcg/250 mcg are generic equivalent to GlaxoSmithKline’s Seretide Inhalers and are indicated for Asthma treatment.
Divis Laboratories stocks crashed 22% to Rs 866.10 on the BSE. The stock hit a 52-week low on Friday.
Welspun Enterprises plunged 3.2%. Welspun Enterprises a part of $2.3 billion Welspun Group, on Thursday announced plans to buy back up to 25% of its share capital at a price of Rs 62 per equity share.
JK Paper rose 1.2%. JK Paper Ltd has now informed BSE that the Company has decided at its meeting of Committee of Directors held on December 22, 2016, to sell 20 per cent shareholding of OJPPL to OHC, one of the joint venture parties.
Tata Motors dropped 1%. The sentiments that prevailed at the Tata Motors extraordinary general meeting mirrored the EGMs at the storied group’s other companies, with a majority of shareholders speaking in favour of Tata Sons’ interim chairman Ratan Tata.
Hinduja Ventures gained 2.2% after the Board of Directors at its meeting held December 22, 2016, has approved the disinvestment of 4,36,47,056 equity shares of Rs. 10 each held by the Company in Hinduja Energy (India) Limited.
Yes Bank closed marginally down at Rs 1,125. The bank has announced that it has received ratings for an additional amount of Rs 1500 crore of Basel III Compliant AT1 (Additional Tier-1) Bonds. This takes the quantum of rated Basel – III Compliant AT1 bonds to Rs 3600 crore.
Gold was trading at Rs 26,936 per 10 gms and silver was trading at Rs 38,891 per kg.
The rupee was trading up 21 paise at 67.78 per US dollar.
Out of 1,414 stocks traded on the NSE, 727 declined and 631 advanced today.
Top 5 Nifty Gainers: Maruti Suzuki (0.55%), Dr. Reddys Lab (0.53%), TCS (0.03%) and Reliance Ind. (0.01%).
Top 5 Nifty Losers: CIPLA (-3.05%), Axis Bank (-1.94%), M&M (-1.69%), BHEL (-1.60%) and Coal India (-1.56%)
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