The Indian stocks market rallied on Tuesday on account of buying of some blue-chip counters, which were heavily over-sold in last few trading sessions and covering-up of pending short positions by speculators ahead of the December futures and options expiry on Thursday.

FM Arun Jaitley sought to allay fears with his statement on the tax front. This is the second session in which the market has entered green territory during the last 9 consecutive trading days. Meanwhile, investors will be eyeing the meeting of Prime Minister Narendra Modi with economists and senior government officials at NITI Aayog.

NSE Nifty closed with a gain of 125 points at 8,033, while BSE Sensex ended with a gain of 406 points at 26,213.

On the global front, Asian stocks ended mixed on a day of thin trade as some markets were closed on account of Christmas and New Year holiday week. Nikkei 225 ended flat at 19,404 and the Kospi of South Korea rose 0.2%. The Shanghai Composite index closed marginally lower. Hong Kong and Australia were closed for Boxing Day.

European stocks were trading in green today. The FTSE 100 rose 0.06%, while the CAC 40 and DAX was trading up 0.12% each.

Nifty FMCG Index opened at 19,671 and touched a high of 20,154 in the day’s trade. Among the top gainers was Dabur which was up 4.15%; it was closely followed by ITC which was up by 4.04%. Jubilant FoodWorks was up by 2.81%, while Marico and Tata Global Beverages Ltd also gained by nearly 2%.

Shares of Bharat Financial Inclusion today snapped a seven-session losing streak to rise 8% to Rs 518 on bargain buying.

Shares of Divis Laboratories closed up 3% at Rs 788.90 on some bargain buying, after a 33% fall in the stock over the previous three consecutive trading days.

Shares of Pharmaceuticals stocks rebounded after 9 days of correction. The Nifty Pharma index gained 2% at 10,083.

Glenmark Pharmaceuticals closed marginally higher. The company has been granted final approval by the United States Food & Drug Administration (USFDA) for Tretinoin Capsules, 10 mg, the generic version of Vesanoid Capsules, 10 mg, of Hoffmann La Roche, Inc. (which is no longer being marketed in the United States).

Future Enterprises zoomed 3.7% after the company has sold 16.09% of equity share capital of Future Lifesyle Fashions Ltd. This shares has been bought on floor of exchange by Future Corporate Resources Ltd, a promoter group company, by way of inter-se transfer under block deal mechanism at prevailing market rate at time of trade.

Union Quality Plastics jumped 4.9%. The company announced that the meeting of the board of directors of the company is scheduled to be held on Dec 29, to consider and approve forfeiture of 1,01,700 partly paid up equity shares.

Lupin advanced 2% after the pharma company has received tentative approval from the US health regulator to sell Olmesartan medoximil tablets, used for treating high blood pressure, in the American market.

The rupee was trading down 21 paise at 67.94 per US dollar.

Out of 1,362 stocks traded on the NSE, 320 declined and 986 advanced today.

Top 5 Nifty Gainers: Wipro (2.06%), Dr. Reddys Lab (1.23%), Coal India (1.16%), CIPLA (1.13%) and Axis Bank (0.94%).

Top 5 Nifty Losers: Tata Steel (-1.26%), Tata Motors (-0.64%), HDFC (-0.42%), L&T (-0.33%) and GAIL (-0.09%)

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The Indian equity market fell to the lowest level in a month due to sustained selling across the board, the market, which opened lower this morning, reacting to PM Narendra Modi’s hinted tax hike on stock market income.

The Indian benchmark indices are expected to remain volatile ahead of the expiry of December series F&O contracts, as investors roll over their positions to the January series. The near month contracts will expire on the coming December 29.

NSE Nifty closed with a loss of 77.50 points at 7,908, while BSE Sensex ended with a loss of 234 points at 25,807.

The NSE Nifty fell about 1% on Monday to a seven-month low weighed by metal, realty, pharma, banking and auto stocks. The BSE Midcap and Smallcap closed down by 2% each.

Markets are factoring in that economic activity will take longer to normalise following the demonetisation drive. ICRA has revised its forecast for GVA growth in FY17 to 6.6 pc. The Finance Minister soothed frayed nerves over the weekend as he clarified that the government had no intention to impose tax on long-term capital gains from trading in shares. Sections of the media, had misinterpreted Prime Minister Narendra Modi’s speech, the FM said.

Meanwhile, the PM is expected to announce ‘radical reforms’ and said the government will not shy away from taking difficult decisions that are in national interest. An early budget is also expected to improve productivity, Modi said.

Heavy selling pressure was witnessed in pharma, finance, oil & gas, IT, metal, telecom, teck, consumer durables, auto and capital goods stocks.

On the global front, Asian markets were trading mixed. China’s Shanghai Composite index fell 0.84% to 3,279 on Monday morning, while Japan’s Nikkei fell 0.09% to 19,412. Major global markets remained shut on account of Christmas and Boxing Day holidays.

In Europe, the FTSE 100 and CAC 40 were trading marginally higher, while DAX is trading in red.

Shares of Pharmaceuticals stocks slipped on BSE and NSE. Divis Lab cracked 11.6% to Rs 765 on BSE. The stock is top losers on BSE. The BSE Healthcare slipped 2.6% or 376 points at 14,329 as against the previous close of 14,572. The BSE Healthcare opened at 14,595 and hits a high of 14,598.61 and a low of 14,282.05.

Panacea Biotec climbed 3.7% after the pharma company announce launch of Tetravalent Vaccine Easyfour-TT for active primary immunization and booster dose against diphtheria, tetanus and pertussis (DTP) and Haemophilus Influenza Type B (Hib). The stock is currently trading at Rs 120.95, up by Rs 6.05 or 5.27% from its previous closing of Rs 114.9 on the BSE.

NTPC Ltd has informed BSE that the Unit-1 of 800 MW of Kudgi Super Thermal Power Project of NTPC Limited in Karnataka has been commissioned on December 25, 2016. This is the first 800 MW unit commissioned by NTPC. The stock closed down by 1%.

Welspun Enterprises zoomed 4.4% on the BSE. Welspun Enterprises Ltd, formerly Welspun Projects Ltd, part of the US $ 2.3 billion Welspun Group, announced its plans to divest its stake in Welspun Energy.

Sasken Communication Technologies Limited has informed the Exchange that the Buyback Committee of the Board of Directors, inter alia, considered fixed the buyback price of Rs 410 (the buyback price) and the total consideration for buyback to be Rs 12,004.31 lakh (the buyback size) excluding the transaction costs viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty etc. The stock slipped 4.4% on the BSE.

Engineers India tumbled 6.6% on the BSE due to profit taking. The shares had hit 52-week high of 324.80 rupees on Friday.

Cox & Kings dropped 3.4% as Copthall Mauritius Investment sold 3.16 million shares, or its entire 1.8% stake in the company at Rs 172.18 per share in a block deal on BSE on Friday.

MMTC gained 1.7% on the BSE amid heavy volumes for the second consecutive trading day.

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 four paise at 67.78 per US dollar.

Out of 1,454 stocks traded on the NSE, 1,221 declined and 189 advanced today.

Top 5 Nifty Gainers: CIPLA (1.86%), Lupin Ltd. (1.77%), Adani Ports & Sez (1.35%), TCS (1.35%) and Sun Pharma (1.14%).

Top 5 Nifty Losers: Bharti Airtel (-0.81%), Hero Motocorp (-0.65%), HDFC (-0.50%), GAIL (-0.27%) and Coal India (-0.23%)

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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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