It was a complete choppy session, as market was seen grinding in a narrow 25 points trading range especially in the second half. Nifty was unable to surpass the crucial 200-DMA which is now placed at 8221.

In addition, Nifty also breached below the 8150 support zone for the first time this week after managing to hold on throughout the week.

Nifty closed was down 14 points and closed at 8,139, while BSE Sensex ended with a loss of 30 points at 26489.

The Benchmark indices in Asia, Europe and India more or less exhibited a subdued outlook. The key factor influencing this was the US Federal Reserve rate hike that was announced earlier this week.

Asian indices ended on a positive note amid subdued trading as traders chose to hold off on further bets ahead of the weekend. Some emerging markets’ shares continued to be weak on US Fed’s 2017 interest rate outlook. The drop in Hong Kong was due to the fear that investors harboured regarding outflow of capital due to the US Fed rate hike.

Japan’s Nikkei 225 closed at 19401 up 0.66%, Singapore’s Straits Times closed at 2939 up 0.31%, China’s Shanghai Composite ended at 3122.98 up 0.17%, while Hong Kong’s Hang Seng closed at 22020 down 0.18%, the only index to close in red among the lot.

Similar sentiment was exhibited by European indices as the markets opened a mixed and subdued note. At the time of filing this report, CAC-40 was trading at 4817 down 0.03%, trading in red, while FTSE 100 was trading at 6999 and DAX was trading at 11381 up 0.13%.

In a pressure filled day, the noteworthy stock is Claris Lifesciences Ltd which hit a record high of Rs 430.10, up 20% after the company sold its injectable business to a US healthcare company.

Gold was trading at Rs 27,110 per 10 gms and silver was trading at Rs 39,597 per kg.

The Indian rupee was trading at 67.79 per dollar.

Out of 1513 stocks traded on the NSE, 899 declined and 533 advanced today.

Top 5 Nifty Gainers: GAIL (2.49%), ICICI Bank (0.72%), M&M (0.56%), Reliance Ind. (0.52%) and Lupin Ltd. (0.51%).

Top 5 Nifty Losers: Sun Pharma (-1.31%), Adani Ports & Sez (-1.20%), Asian Paints (-1.01%), Maruti Suzuki (-0.96%) and HDFC (-0.89%)

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Towards end of the trading hours, Sensex and Nifty both lost points it had gained in the afternoon hours of trade. Both indices closed in red, Nifty ended at 8153 while Sensex ended losing more than 80 points. Nifty sectoral indices end on a mixed note wherein Nifty PSU Bank had gained 0.75%, followed by Nifty IT which gained 0.66% while Nifty Pharma and FMCG were worst hit, down 1.88% and 0.87% respectively.

Nifty closed with down of 29 points and closed at 8,153, while BSE Sensex ended with a loss of 84 points at 26519.

Majority of the Asian indices, with the exception of Japan, ended on a weaker note due to the US Federal Reserve’s hawkish outlook on interest rates. Hong Kong’s Hang Seng ended at 22059 down 1.77%, Singapore’s Straits Times ended at 2930 down 0.79%, China’s Shanghai Composite ended at 3117 down 0.73%, however Japan’s Nikkei 225 closed at 19273 up 0.1%, the only index to end in green.

On the other hand, the European benchmark indices were up in early trade after the US Central bank announcement where it had raised its policy interest rate by 25 bps and indicated three hikes next year. The banking stocks were the lead gainers across Europe, as market participants saw the US rate hike as a positive for the financial sector, which has been struggling with low yields for close to almost 8 years. CAC-40 was trading at 4797 up 0.60%, DAX was trading at 11304 up 0.53% and FTSE 100 was trading at 6936 down 0.19%. The US Nasdaq was trading at 5436 down 0.50%

Bajaj Auto up 1% on launch of Bajaj Dominar 400 cc bike.

Rallis India H1 FY17 EPS jumped 42% YoY and demonetisation is likely to exert pressure on H2 FY17 performance. Promising progress in new molecule development in CRAMS, and opportunity for sharp earnings growth over next 3-5 years.

Ramco Systems up 8.5% as GoAir upgrades Ramco Aviation Suite V5.5 to V5.8 across 23 locations to experience power of Mobility and Anywhere Apps.

Infosys stocks up +1.53%, Company makes announcement on investment plans in ideaForge.

Indian Oil Corp sought up to 80,000 tonnes of 40ppm sulphur diesel for delivery in late December.

Gold was trading at Rs 27,156 per 10 gms and silver was trading at Rs 40,565 per kg.

The Indian rupee was trading at 67.82 per dollar.

Out of 1470 stocks traded on the NSE, 701 declined and 697 advanced today.

Top 5 Nifty Gainers: Tata Motors (1.19%), Infosys Ltd. (1.06%), HDFC (1.06%), Maruti Suzuki (0.80%) and NTPC (0.56%).

Top 5 Nifty Losers: ONGC (-2.16%), Adani Ports & Sez (-1.53%), BHEL (-1.44%), ICICI Bank (-1.27%) and Hero Motocorp (-1.20%)

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The domestic indices were mostly trading in red throughout the day.Coal India and many other listed firms posted negative results. The shares of Coal India have fallen being the top loser for the day.

The Nifty sectoral indices are also trading in red and are down by 0.50%, however, Nifty Realty and IT are trading in green, providing some relief to a sluggish day.

Nifty closed with down 39 points and closed at 8,182, while BSE Sensex ended with a loss of 95 points at 26697.

At the global front, Asian indices ended mixed today amid cautious trade ahead of the US Federal Reserve’s monetary policy outcome. China’s Shanghai Composite closed at 3140 down 0.46%, Singapore’s Straits Times ended at 2954.06 down 0.04%, Japan’s Nikkei 225 closed at 19253 down 0.02%, all these indices closed in red, while Hong Kong’s Hang Seng closed at 22456 up 0.04%.

Sentiments are in check as investors focus on the outcome of the US Central Bank announcement that is scheduled to occur later in the day. Any comments from the US Central Bank that they may hike interest rates aggressively next year could lead to a sell-off in emerging markets.

Today, the European indices were down in early trade due to caution ahead of the outcome of US Federal Reserve’s two-day policy meeting, due later today. The markets in the European region are also expecting US Central Bank to raise the interest rates by 25 bps. CAC-40 was trading at 4787 losing 0.33%, FTSE 100 was at 6953 down 0.21% and DAX at 11265.87 down 0.17%. All key three indices were trading in red.

Gold was trading at Rs 27,611 per 10 gms and silver was trading at Rs 41,553 per kg.

The Indian rupee was trading at 67.53 per dollar.

Out of 1508 stocks traded on the NSE, 1048 declined and 391 advanced today.

Top 5 Nifty Gainers: TCS (2.04%), Tata Steel (1.76%), Infosys Ltd. (1.66%), Adani Ports & Sez (1.53%) and SBI (1.45%).

Top 5 Nifty Losers: Sun Pharma (-1.82%), Bharti Airtel (-1.15%), Tata Motors (-0.98%), NTPC (-0.86%) and ONGC (-0.59%)

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