The Indian shares fluctuated between gains and losses before ending the session lower on last hour of accelerated selling. The market gained to a near two-month high, ahead of the announcement of GDP data.
NSE Nifty closed with a loss of 30 points at 8,243, while BSE Sensex ended with a loss of 119 points at 26,759.
Asian markets ended on a mixed note where Nikkei225 was down 0.3%, Hang Seng was up 0.2% while Shanghai Composite tumbled 0.35% weighed by pressure from auto stocks after Trump warned Toyota on its plan to open a manufacturing unit in Mexico.
European markets opened on a negative note today.
Yes Bank Ltd is currently at Rs 1,242, up by Rs 32.3 or 2.67% from its previous closing of Rs 1,209.7 on the BSE.
Tech Mahindra Ltd is currently trading at Rs 467, down by Rs 21.3 or 4.36% from its previous closing of Rs 488.3 on the BSE.
Two US Congressmen have reintroduced a bill to curb the use of H-1B visas, on which the Indian IT sector is particularly dependent, the first salvo in the battle against outsourcing that is expected under the watch of President-elect Donald Trump. The new bill would require workers on the H-1B visa pay a minimum of $ 100,000, up from $ 60,000 currently. The bill also removes the Master’s degree exemption to the cap on the number of visas available, as per media reports.
HCL Technologies Ltd is currently trading at Rs 816, down by Rs 28.1 or 3.33% from its previous closing of Rs 844.1 on the BSE. The scrip opened at Rs 834 and has touched a high and low of Rs 840 and Rs 816 respectively. So far 691881(NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs 119,119.22 crore.
Just Dial Ltd is currently trading at Rs 386.9, down by Rs 7.1 or 1.8% from its previous closing of Rs 394 on the BSE. The scrip opened at Rs 397.8 and has touched a high and low of Rs 405 and Rs 381.9 respectively. So far 3801199 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs 2,780.28 crore.
Tech Mahindra Ltd is currently trading at Rs 474.95, down by Rs 13.35 or 2.73% from its previous closing of Rs 488.3 on the BSE.
Mindtree Ltd is currently trading at Rs 509.25, down by Rs 14.3 or 2.73% from its previous closing of Rs 523.55 on the BSE. The scrip opened at Rs 523.15 and has touched a high and low of Rs 523.15 and Rs 508.1 respectively. So far 662646 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs 8795.23 crore.
SpiceJet gained 1.1%. The airline company is poised to order at least 92 Boeing Co. 737 jetliners as the carrier plots rapid expansion.
Piramal Enterprises zoomed 2.4% on the BSE. Piramal Finance, a subsidiary of Piramal Enterprises, said it plans to foray into housing finance business. In line with the company’s growth plans, Piramal Finance will now make an application to the National Housing Bank for incorporating a housing finance company. This was approved by the company’s board on January 5.
Wockhardt climbed 7%. Wockhardsaid German regulator has issued European Union Good Manufacturing Practice certificate to the company’s Ankaleshwar facility in Gujarat.
Chartered Logistics inched up 0.4%. The company registered net profit of Rs 4 crore, up 50%, against Rs 2.74 crore in the corresponding quarter last year.
GM Breweries dropped 3.4%. The company reported 36% decline in net profit at Rs 10 crore for the quarter ended December 30, 2016. It had posted a net profit of Rs 15.6 crore in the corresponding quarter last year.
Sagar Cements jumped 3.5%. South India based, large cap, cement manufacturing company Sagar Cement’s consolidated data shows that for the month of December 2016, the total cement sales was negligibly down by 0.3% as compared to sales during December 2015.
Asian indices ex Japan traded in the green as emerging markets started the New Year in fine fettle as proxy to weakness to US $ with the Trump rally seeing profit booking. The US $ weakened sharply to near November 8 levels and in tandem we saw bond yields also fall to 2.36% levels last seen around the US election results.
The rupee was trading at 68.18 against the US dollar.
Out of 1,902 stocks traded on the NSE, 929 declined, 648 advanced and 325 remained unchanged today.
Top 5 Nifty Gainers: Asian Paints (1.23%), ONGC (1.23%), Dr. Reddys Lab (1.01%), HDFC Bank (0.82%) and HDFC (0.69%).
Top 5 Nifty Losers: TCS (-2.14%), Infosys Ltd. (-2.05%), Wipro (-2.01%), ITC Ltd. (-1.54%) and NTPC (-0.85%)
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