The Indian stock markets closed little changed but gained for the third straight week led by a rally in bank stocks. The Sensex ended the little changed at 27,238 but advanced 1.9% for the week, While Nifty climb nearly 1.9% for the week, the 50-share index failed to hold on to the 8,450-mark.

NSE Nifty was down 6.85 points at 8400.35, while BSE Sensex closed down 9.10 points at 27238.06.

IT has tumbled badly, dragged down by TCS and Infosys plunging 3.3% and 2.1% respectively, post results’ announcement. Auto follows with 0.9% downside, dragged down by the falling Tyre stocks.

On the other hand, the Financial Services sector remains up with 0.6% gains driven by Axis Bank and HDFC. Apart from Axis Bank and HDFC, GAIL and Auro Pharma are the top gainers; while TCS, Infosys, Hindalco and Tata Motors are the top losers for the Nifty.

SpiceJet hit their highest level in a month after company said  its purchase of 205 planes from Boeing Co will not add to their debt. The airliner’s stock was up 3%.

While shares of Infosys wiped the gains due to mixed Oct-Dec earnings, those of TCS were down 2% as changes at the top management and headwinds for the sector led to concern about growth.

GAIL is up by more than 2.15 % along with ONGC which is up by 2.01%. Reliance Industries is up by 0.82% trading at Rs 1092 per share. The other stock that is supporting the market in the first hour is HDFC, Coal India and Axis Bank.

Electrosteel Castings is having a good day on the Street. The stock of the company has opened in green; and as at 10.35 am is trading with gains of 5%. It has witnessed a spurt in volumes by more than 1.83 times.

The stock has witnessed a significant movement as the Government of India has granted a mining lease of 192.5 hectare in Jharkhand.

Axis Bank is trading at Rs 459.25 per share, up by Rs 4.05 per share or 0.89%. The stock opened today at Rs 457 per share and touched a high of 461.90, gaining Rs 6.70 per share or 1.47%. The stock has seen an addition of 1027 contracts or 2.94% to its Open Interest.

Kotak Mahindra Bank Limited is trading at Rs 732.80 per share, up by Rs 4.85 per share or 0.67%. The stock opened today at Rs 731.50 per share and touched a high of Rs 735.60 per share, gaining Rs 7.65 per share or 1.05%. The stock has seen an addition of 44 contracts or 0.29% to its Open Interest.

Short built up is being seen in the top two IT companies of India.

Infosys has seen an addition of 8813 contracts or 15.01% in its Open Interest. The stock is trading at Rs 992 per share, down by Rs 8.05 per share or 0.80%.

TCS has seen an addition of 5101 contracts or 14.37% in its Open Interest. The stock is trading at Rs 2289.15 per share, down by Rs 55.20 per share or 2.35%.

The rupee was trading at 68.23 against the US dollar.

Out of 1,908 stocks traded on the NSE, 859 declined,698 advanced and 351 remained unchanged today.

Top 5 Nifty Gainers: Axis Bank (3.41%), ITC Ltd. (2.11%), GAIL (2.04%), HDFC (1.67%) and Sun Pharma (0.96%).

Top 5 Nifty Losers: TCS (-4.02%), Infosys Ltd. (-2.87%), NTPC (-1.70%), Maruti Suzuki  (-1.65%) and Dr. Reddys Lab (-1.04%)

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The Indian stock market gained  for a third day with benchmarks extending their two-month high lead as some investors assessed that the impact of the demonetisation may be factored in and take positions ahead of the Union Budget early next month.

NSE Nifty was up 26.55 points or 0.3 percent at 8407.20, while BSE Sensex ended up 106.75 points or 0.4 percent at 27247.16.

Broader markets remained underperformers throughout the day where midcap closed 0.2% higher while small cap retreated to close lower by 0.2%.

On the sector specific front, IT surged the most with 1.8% gains, driven by heavy weight Infosys gaining 3%.

On the contrary, the FMCG sector plunged 0.9% where the giants HUL, ITC, UBL and Tata Global posted 1% losses each.

Pharma too closed 0.5% down but recovered in the afternoon session from day’s low. Power stocks were charged wherein NTPC, Power Grid remained the top Nifty gainers while Telecom major Idea and Pharma major Lupin were the top losers for the Nifty.

Going forward, we hold 8460 followed by 8511 as the next major resistance while 8390-8380 followed by 8300 as the major support for Nifty. We keenly await Infosys’ results in tomorrow’s session.

Infosys: The stock was the biggest contributor to the index gains throughout the day holding the markets steady. The stock closed up by more than 3%.

L&T: One of the top contributors to the index gains, L&T remained in green throughout the session in line with the Capital Goods Index.

NHPC: The power stock was buzzing on bourses as the company declared a dividend of Rs 1.70 per share.

Coal India: The stock underperformed markets despite the reports that it might increase the thermal coal pricing.

Power Grid: The stock was one of the top gainers in the index reaching new highs in today’s trade, rising than 4%.

The rupee was trading at 68.07 against the US dollar.

Out of 1,908 stocks traded on the NSE, 918 declined, 679 advanced and 311 remained unchanged today.

Top 5 Nifty Gainers: NTPC (5.84%), Infosys Ltd. (3.51%), L&T (2.42%), CIPLA (1.50%) and Wipro (1.47%).

Top 5 Nifty Losers: Lupin Ltd. (-1.87%), Hindustan Unilever (-1.67%), Dr. Reddys Lab  (-1.23%), M&M (-1.18%) and Coal India (-1.15%)

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The Indian stock market opened higher for second straight day to a two-month high on Wednesday. Sentiments remained bullish with Prime Minister Narendra Modi’s statement that India is on threshold of becoming most digitised economy in the world.

NSE Nifty is trading higher by 93 points at 8,381 mark., while BSE Sensex surged by 241 points at 27,140.

IndusInd Bank rules the sectoral index i.e. BSE Bankex on Wednesday by gaining more than 4% on intraday basis. HDFC Bank and ICICI Bank are contributing heavily to the BSE Bankex which is up by 1.75% trading at 21,404 levels.

Some buying was observed in metal, Banking, media, financial services, FMCG and realty sectors, while IT stock showed weakness on NSE.

The INDIA VIX was down 3.4% at 14.68..

Suzlon Energy rallied 3% after the company bagged an order for 226 MW wind power project in Andhra Pradesh. This was awarded by a leading IPP company.

Tata Consultancy Services Ltd is currently trading at Rs 2294.55, down by Rs 20.9 or 0.9% from its previous closing of Rs 2315.45 on the BSE. The IT Company will announce its Q3 results on Jan 12, 2017.

With markets trading firm and trading in green housing finance companies are soaring on bourses by recording impressive gains. Tamil Nadu based Repco Homes is buzzing with gains of more than 4.5% on Wednesday’s session. DHFL is up by more than 3%, GRUH finance is up by more than 2.4% whereas India bulls housing finance is up by more than 2%.

Along with the housing finance companies other finance companies such as Shri Ram Transport Finance is up by more than 3% and Mannapuram Finance is up by more than 2.8%.

Market is recovering from the demonetisation blues after it was widely expected that the harsh policy decision on monetary front by banning Rs 500 and Rs 1000 notes will have a negative impact on the health of the Indian economy.

Nifty Metal is Wednesday’s leading index across sectoral indices. Nifty Metal opened today at 2855.20, gaining 0.75%. It is currently trading up by 2.84%. Following are the top stocks from Metal sector today: JSW Steel has touched its 52-week high today at Rs 191.15, gaining 7.11%. Gujarat based, large diametre pipes manufacturer, Welspun Corporation is also in focus today. Welspun has gained 0.6% at the time of opening. It is currently trading up by 1.85% at Rs 82.65.

India’s largest manufacturer of Auto-grade steel, Bhushan Steel Limited has touched high of Rs 45.65, gaining 7.28%. The company’s revenues have been growing at an average rate of 5% over the last five years.

Steel Authority of India Limited (SAIL) has touched a high of Rs 55.45, gaining 4.92%. The stock is near its 52-week high of Rs 56.10. It is currently trading up by 3.88%. SAIL has witnessed spurt in volumes by 1.02 times. Its revenues has grown at an average of 10% over the last five quarters.

The rupee was trading at 68.25 against the US dollar.

Out of 1,902 stocks traded on the NSE, 456 declined, 1,055 advanced and 391 remained unchanged today.

Top 5 Nifty Gainers: Coal India (5.56%), Tata Steel (3.85%), Lupin Ltd. (2.24%), ICICI Bank (1.81%) and SBI (1.53%).

Top 5 Nifty Losers: Bajaj Auto (-1.09%), ITC Ltd. (-0.76%), Reliance Ind. (-0.47%), Wipro (-0.31%) and Infosys Ltd. (-0.16%)

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.