Indian benchmark indices opened on a negative note taking weak cues from the Asian bourses this morning, but recovered in the late morning session itself and thereafter remained standstill throughout the session.

NSE Nifty closed at 8417.15 up 16.80 points, while BSE Sensex closed at 27302.64 up 64.58 points.

LIC Housing Finance reported increase in revenue by Rs 71.48 cr or 2.07%. Its net profit increased by Rs 4.5 cr or 0.91%.

HIL Ltd, a small-cap cement and cement product manufacturer has announced its Q3FY17 results on January 16, 2017 where company posted a de-growth in revenues and a net loss on quarter on quarter basis.

Dewan Housing Finance Corporation Ltd. reported growth in its revenue and net profit by 9.18% and 5.22% respectively.

On the sectoral front, Realty sector remained positive throughout the day and closed making 1.1% gains, banks and financial services too rallied 1%.

Jewellery stocks were gaining in Monday’s trading session. Gitanjali Gems touched a high of Rs 73.50 per share, up by Rs 7.15 per share or 10.77%.

IT tumbled post heavy weight results and ahead of HCL TECH results. Nifty FMCG and Nifty IT closed flat to negative while all other sectors ended in green.

Nifty Pharma closed losing 0.26%. Pharma giants remained under pressure of scrutiny of their business by US government. Sun Pharma was the top loser which pulled down the Pharma index in Monday’s trading session.

The rupee was trading at 68.10 against the US dollar.

Broader markets outperformed that encouraged market breadth to remain positive with 1562 advances and 1218 declines.

Top 5 Nifty Gainers: Tata Steel (2.73%), Tata Motors (2.36%), Adani Ports & Sez (2.28%), SBI (2.17%) and Hero Motocorp (1.49%).

Top 5 Nifty Losers: Infosys Ltd. (-1.80%), Reliance Ind. (-1.36%), ONGC (-1.19%), Sun Pharma (-1.13%) and GAIL (-0.92%)

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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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