The benchmark equity indices closed higher as banks recovered from the previous session’s losses on hopes of a pickup in credit growth following cuts in lending rates. While the indices fluctuated between gains and losses through the session, the market breadth remained firmly in favour of the buyers.

NSE Nifty closed with a gain of 13 points at 8,192, while BSE Sensex ended with a gain of 48 points at 26,643.

Sentiments got some support after Union Finance Minister Arun Jaitley expressed hope that Goods and Services Tax (GST) will be implemented in 2017 and a digitised economy will be the future of India. However, gains were limited after a government report showed that Core sector output in the month of November slowed down to 4.9% from 6.6% in October and 5.01% in September, mainly due to decline in production of crude oil and natural gas.

Meanwhile, investors keeping an eye on the GST Council meeting, to arrive at a consensus on contentious issues, including dual administrative control and inter-state supply.

On the economy front, the next Parliament session is likely to start early from January 31 so that the Budget can be presented on February 1, after a meeting of Cabinet Committee on Political Affairs (CCPA).

Asian stocks began 2017 on a mixed note after most regional markets reopened post the New Year holiday. China’s Caixin Manufacturing Purchasing Managers’ index (PMI) rose 51.9, compared to 50.9 in November on the back of increased demand. China’s Shanghai Composite and Hong Kong’s Hang Seng index also added 1% and 0.6%, respectively, while Japan was closed for an extended New Year holiday.

European stocks rose on Tuesday. The FTSE 100 and DAX have gained 0.5% each, while the CAC 40 is up 0.54%.

Some buying is observed in media, banking, metal, FMCG and financial services sectors while IT and auto stocks are showing weakness on NSE. The mid-cap and smallcap stocks representative indices on the BSE surged by 0.6% and 1% respectively.

Among the 50 stocks of the Nifty, Power Grid, Coal India, BHEL, Yes Bank, Axis Bank, Zee, Gail and ICICI Bank were among the gainers, whereas Bharti Airtel, Idea Cellular, Hero MotoCorp, Tata Motors, UltraTech Cement and Bosch were among the losers today.

Hero MotoCorp slipped 1.4% on the BSE. The company sold a record 67,62,980 units of two-wheelers in the period January-December 2016, translating into a growth of 4.3% over the previous calendar year (2015) when the company had sold 64,86,103 two-wheeler units.

Bajaj Hindusthan Sugar gained 2.2%. The company said that its board, at its meeting held January 2, considered seeking necessary approval of shareholders by way of postal ballot for sale of co-generation business comprising of power generation facility aggregating to 449 MW, in a BSE Filing.

Aban Offshore rose 4.6%. The company announced the completion of sale of 59% equity shares held by Aban Offshore in Aban Green Power and Radhapuram Wintech – subsidiaries of Aban Offshore. The company also completed the transaction for acquisition of 49% equity shares in Aban Drilling Services.

Titan Company zoomed 4.5% on the BSE. The company said that Q3 December 2016 started off on a high of the festive season and long awaited resurgence of the consumer sentiment.

Infosys fell 1% Rs 995 on the BSE. The recent correction in Infosys was led by Chief, Vishal Sikka’s first address of calendar year 2017, wherein he cued towards the difficulties the company would face in automation going forward and cautioned the employees against lacklustre attitude displayed by them. He expects employees to work beyond their scope to deliver the tasks.

The rupee was trading down by 8 paise at 68.30 per US dollar.

Out of 1,893 stocks traded on the NSE, 483 declined and 1,135 advanced today.

Top 5 Nifty Gainers: Coal India (2.10%), BHEL (1.87%), Axis Bank (1.85%), GAIL (1.10%) and ICICI Bank (1.07%).

Top 5 Nifty Losers: Bharti Airtel (-2.89%), Hero Motocorp (-1.44%), Tata Motors (-1.28%), Tata Steel (-0.97%) and Wipro (-0.86%)

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The Indian stock markets opened on a subdued note on the first trading day of 2017, with profit-booking after recent gains. The stock markets displayed subdued investor sentiment owing to profit booking and rupee depreciation.

The Nikkei India Manufacturing Purchasing Managers’ Index, or PMI, fell to 49.6 in December from November’s 52.3. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

Realty companies were in demand after Prime Minister Narendra Modi on December 31 announced that loans of up to Rs 9 lakh taken in the new year under the new scheme of Pradhan Mantri Awas Yojana will receive interest subvention of 4 per cent and loan of up to Rs 12 lakh will get a 3 per cent interest waiver.

Selling pressure was witnessed in banking, financial services, FMCG and IT stocks, while realty, auto, metal, media and pharma were among the gainers.

NSE Nifty closed with a loss of a mere six points at 8,180, while BSE Sensex ended with a loss of 31 points at 26,595.

On the global front, Asian markets closed flat. Japan’s Nikkei closed in red. Hong Kong’s Hang Seng  and China’s Shanghai Composite ended higher.

After a weak start, European indices rebounded and Germany’s DAX index touched its highest level since August 2015. Trading volumes, though, were low as markets in the UK and several other countries were closed for New Year holidays. France’s CAC-40 touched a 52-week high of 4879.24 points.

Bajaj Auto Ltd fell 1.4% to Rs 2,597 after the company reported a 22% decline in its December monthly sales to 2.25 lakh units from 2.89 lakh units last year same month.

Transformers and Rectifiers India jumped 5.3% to Rs 356 after the company said it got orders worth Rs 92 crore from Gujarat Energy Transmission Corporation.

Bombay Dyeing rose 3% to Rs 49 after the company said it has inked an agreement for sale of land, building and some machinery of Ranjangaon unit at an aggregate value of Rs 174.45 crore.

The rupee was trading down 16 paise at 68.07 per US dollar.

Out of 1,903 stocks traded on the NSE, 417 declined and 1,194 advanced today.

Top 5 Nifty Gainers: Tata Steel (3.72%), M&M (3.51%), Tata Motors (3.12%), Maruti Suzuki (2.94%) and Bharti Airtel (2.18%).

Top 5 Nifty Losers: HDFC (-3.45%), SBI (-2.50%), Bajaj Auto (-1.40%), ICICI Bank (-1.29%) and Infosys Ltd. (-1.06%)

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The Indian stock market ended with smart gains on Friday(30th Dec. 2016) as investors sentiments were buoyed by rupee appreciation. U.S. dollar weakened, while crude oil prices rebounded in Asian trade.

The buying was so fierce that not a single sectoral index on the NSE ended with losses; FMCG, realty, pharma, IT, banking, media, financial services and auto stocks ended among the top gainers. Even the mid-cap and the small-cap stocks participated in today’s rally.

NSE Nifty closed 82 points higher at 8,186 points, while BSE Sensex ended with a gain of 260 points at 26,626.

Of the five pharmaceutical stocks that are both on the Nifty 50 and Nifty Pharma, the shares of Aurobindo Pharma and Sun Pharmaceutical Industries declined 24% each in 2016. While shares of Lupin declined 19%, those of Cipla fell 12% and Dr. Reddy’s Laboratories fell nearly 2% in 2016.

The Nifty PSU Bank index closed higher by 1.14% despite the Reserve Bank of India’s warning that the bad loans of state run banks may surge up to 10.1% by March 2018. The Nifty PSU Bank index is trading up 1.2% at 2,984. The Nifty PSU Bank index opened at 2,951 and hit a high of 3,002 and a low of 2,946.

On the global front, Asian markets closed mostly in green on Friday, the last trading day of 2016, despite the modest losses posted overnight on Wall Street. The Shanghai Composite index was up 0.24% and Hong Kong’s Hang Seng index closed higher by 1%. Nikkei 225 ended lower.

In Europe, the FTSE 100 is trading in red. CAC 40 and DAX are trading down by 0.2% each.

Aurobindo Pharma zoomed 3.2% after the company received US Food and Drug Administration’s (USFDA) approval for two of its generic drugs, following which the company stocks gained positive traction.

Engineers India fell 9.8% on the BSE after the stock turned ex bonus. The company announced that the shareholders of the company will get one free share for one held.

L&T Finance Holdings rallied 3% on the BSE after Harsh Mariwala bought 46,000 shares in the company.

Havells India gained 4.5% to Rs 339.25 on the BSE. Around 2.2 million shares of the company changed hands in a single block deal.

Sugar stocks gained the most in four months after the reports suggested that government was considering debt recast plans for the companies. Stocks like Dalmia Bharat Sugar, Bajaj Hindusthan, Dwarikesh Sugar and Dhampur Sugar saw gains between 6-10%.

Jagran Prakashan rallied 3.4% to Rs 179.85 after the company said the meeting of the board of directors is scheduled to be held on Jan 5,  2017 to consider the proposal for buyback of shares.

RS Software climbed 2%. RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.

GE Power India soared 5.3% after the company announced that it has received contracts worth $40 million by Bharat Heavy Electricals to supply components and services for the supercritical steam generator island packages for 2×800 MW coal-based Uppur Thermal Power Project and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III. Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the goverment.

Golden Tobacco closed on a flat note. Golden Tobacco Ltd said that it has received notice from a consortium of banks led by Canara Bank for one of its properties situated at Guntur.

IFCI slipped 3%. Term lender IFCI on Thursday said it has proposed to sell around 0.8% stake in National Stock Exchange (NSE).

The rupee was trading up 19 paise at 67.90 per US dollar.

Out of 1,539 stocks traded on the NSE, 414 declined and 941 advanced today.

Top 5 Nifty Gainers: Sun Pharma (2.39%), GAIL (2.38%), ITC Ltd. (2.25%), Infosys Ltd. (1.70%) and BHEL (1.60%).

Top 5 Nifty Losers: Bajaj Auto (-0.62%), Tata Steel (-0.50%), Dr. Reddys Lab (-0.46%), HDFC Bank (-0.12%) and ONGC (-0.03%)

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