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%)

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.

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%)

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.

The Indian stock market plunged for the seventh straight day, with the benchmark breaking key support levels, as uncertainty over economic growth and corporate profits persisted. Investors will keep an eye on the two-day Goods & Services Tax Council meet which begins later in the day. The GST Council will discuss drafts of the model GST, integrated GST and states’ compensation bills.

NSE Nifty was down 82 points and closed at 7,979, while BSE Sensex ended with a loss of 263 points at 25,980.

The Sensex drifted below 26,000 level, while the broader Nifty50 slid below the crucial 8,000 level for the first time since November 25.

Sentiments remained down-beat after Prime Minister Narendra Modi’s top economic adviser Bibek Debroy has said that the negative shock from demonetisation will last until the end of March, though he also said that improved growth next year should fully compensate for the loss.

All the sectors closed in red and heavy selling pressure was seen in metal, banking, financial services, IT, telecom, realty and utilities sectors.

On the global front, Asian markets closed lower on Thursday. Hang Seng slipped 1%, while Shanghai Composite closed marginally up.

European markets were lower as trading desks began to thin out on the last full day of work for London’s financial sector before the long Christmas break. FTSE 100, DAX and CAC40 were trading marginally lower.

Metal stocks fell 1-4% today as global base metal prices slipped. Nifty Bank ended at lowest level since June 30, below 17,900 level dragged by Axis Bank, SBI, IndusInd Bank and Canara Bank, dropped between 2-2.5%.

Mandhana Retail Ventures Ltd hits 5% lower circuit at Rs 184.30 on the BSE. The shares hit a lower circuit of 4.98% to Rs 182.15 and this was the fifth lower circuit in five days for the company.

JBF Industries Ltd tanked 4.3% to Rs 221 on the BSE after Copthall Mauritius Investment sold entire 3.94% stake in the company.

Phoenix Mills Limited rose 2% after the company has informed the exchanges that its wholly owned subsidiary Island Star Mall Developers Private Limited has entered into a non-binding term sheet with Canada Pension Plan Investment Board on the basis of which the proposed investor may, subject to execution of definitive agreements by the parties and fulfillment of conditions as may be applicable from time to time, over a 3 year period acquire up to 49% of the post issue paid up-up equity share capital of ISML (on a fully dilute basis).

Empee Distilleries soared 2.3% to Rs 54.60 on the BSE. The company’s board meeting is scheduled to be held on December 26, to consider and approve sale of 1,95,12,997 equity shares of Rs 10 each held by the company in Empee Hotels (unlisted entity).

SPARC gained 1.5% after the pharma company has received a Complete Response Letter (CRL) from the USFDA for the New Drug Application (NDA) for Xelpros, Latanoprost BAK-free eyedrops.

Gold was trading at Rs 27,097 per 10 gms and silver was trading at Rs 39,500 per kg.

The rupee was trading at 67.87 per dollar.

Out of 1886 stocks traded on the NSE, 886 declined and 697 advanced today.

Top 5 Nifty Gainers: Sun Pharma (1.82%), Bajaj Auto (0.64%), HDFC (0.59%), ONGC (0.49%) and Hero MotoCorp (0.38%).

Top 5 Nifty Losers: M&M (-1.70%), Tata Motors (-1.63%), Adani Ports & Sez (-1.36%), Axis Bank (-1.35%) and NTPC (-1.34%)

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.