Share indices ended at their highest level in four weeks, buoyed by positive cues from global markets and weak dollar. Most indices in the Asian region also ended higher. Today’s rise was also aided by expectation that the ECB will announce a six-month extension to its bond-buying program.

Nifty closed with a gained 144 points and closed at 8,246, while BSE Sensex ended with a gain of 457 points at 26,694.

On the global front, most Asian indices closed in green except Strait Times that ended in red and marginally down. In Europe, the FTSE 100 was up 0.07%. CAC 40 and DAX was up 0.19% and 0.41% respectively while, the US Nasdaq was also up 1.13%.

Japan’s main stock benchmark rose to a new high for 2016 after continued optimism surrounding U.S. President-elect Donald Trump’s economic policies helped lift Wall Street shares to a record high overnight. The Nikkei 268.78 points to 18765.47, its highest level since December 30, 2015.

Globally, eyes are on the European Central Bank, where industry hopes that the committee will extend its asset purchase program at its policy meet. Industry is expectant that the ECB will continue its monthly asset purchases and hope it extends forward to March 2017.

The market received the required impetus following the buying ensued by FIIs and DIIs. Buying activity was observed in the market throughout the day, which helped the benchmark indices to have a bull run and close on a strong positive note.

Cashless beneficiary sectors like IT stocks including Nucleus Software, Quick Heal, HCL, Infosys had a positive uptrend throughout the day gaining above 4%. Following stocks were the performers of the day – Reliance, ONGC, Vedanta, Tata Steel, Tata Motor DVR, Tata Motor, Mothersun Sumi, Bharat Forge, Hindustan Zinc, Godrej Properties, Indianbulls Real Estate, PowerFinance Corporation, LIC, ITC.

All sectoral indices on Nifty were trading up with Nifty Auto and Nifty Metal stocks leading the pack. In general, auto stocks were top gainers on NSE.

Gold was trading at Rs 27,846 per 10 gms and silver was trading at Rs 41,627 per kg.

The Indian rupee trading at 67.32 per US dollar.

Out of 1528 stocks traded on the NSE, 299 declined and 1178 advanced today.

Top 5 Nifty Gainers: Infosys Ltd. (1.67%), ITC Ltd (1.31%), ONGC (1.11%), Tata Motors (0.89%) and ICICI Bank (0.69%).

Top 5 Nifty Losers: Bajaj Auto (-1.22%), Coal India (-1.19%), HDFC (-1.17%), Hero Motocorp (-0.80%) and HDFC Bank (-0.71%)

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Sensex and Nifty erased gains as RBI Monetary Policy Committee left the repo rate unchanged at 6.25%. Industry was expecting at least 25 basis point cut.

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25%.

Nifty closed with a drop of 41 points and closed at 8,102, while BSE Sensex ended with a loss of 156 points at 26237.

On the global front, most Asian indices closed in green and marginally up. In Europe, the FTSE 100 was up 1.25%. CAC 40 and DAX was up 0.90% and 1.33% respectively while, the US Nasdaq was also up 0.45%.

European indices open on a positive note ahead of the ECB policy primarily as traders expected the central bank to extend the duration of its bond-buying programme. The ECB will commence its two-day policy meeting on Thursday, with the policy statement to be detailed on Friday. As expected, banks led the rally in European shares, as investors expected them to benefit from any extension of the ECB’s bond-buying plan.

MPC stated all the key rates remain unchanged. This includes Bank Rate which remains at 6.75%, Repo Rate remains 6.25%, Reverse Repo Rate remains 5.75%, CRR remains 4.00% and SLR remains 20.75%.

The announcement of the RBI Monetary Policy wherein the committee decided to keep the repo rate unchanged, has impacted price sensitive sectors including Auto and Realty.

RBI Withdraws the Incremental CRR on November 26, 2016 the Reserve Bank had announced an incremental cash reserve ratio (CRR) of 100 per cent of the increase in net demand and time liabilities (NDTL) of scheduled banks between September 16, 2016 and November 11, 2016, effective the fortnight beginning November 26, 2016. It was intended to absorb a part of the large increase in liquidity in the system following the withdrawal of the legal tender status of Rs 500 and Rs 1,000 denomination bank notes. It was also indicated that the incremental CRR was purely a temporary measure and that it would be reviewed on December 9, 2016 or even earlier.

With the enhancement in the ceiling for issue of securities under the Market Stabilisation Scheme (MSS) to Rs 6,000 billion, it has been decided to withdraw the incremental CRR effective the fortnight beginning December 10, 2016. The liquidity released by the discontinuation of the incremental CRR would be absorbed by a mix of MSS issuances and liquidity adjustment facility (LAF) operations.

Gold was trading at Rs 27,934 per 10 gms and silver was trading at Rs 41,163 per kg.

The Indian rupee was trading at 67.86 per US dollar.

Out of 1884 stocks traded on the NSE, 961 declined and 636 advanced today.

Top 5 Nifty Gainers: Tata Motors (3.64%), Tata Steel (3.18%), Adani Ports & Sez (2.71%), Maruti Suzuki (2.52%) and ITC Ltd (2.44%).

Top 5 Nifty Losers: Dr. Reddys Lab (-0.38%)

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At the end of trading hours, the only positive is that the indices have closed in green. Sensex opened on a high note and more or less was stagnant in terms of variations throughout the day. Similarly, Nifty too stayed flat throughout the day.

Nifty closed with a gain of 14 points and closed at 8,143.15, while BSE Sensex ended with a gain of 44 points at 26392.76.

On the global front, most Asian indices closed in green and marginally up. In Europe, the FTSE 100 was down 0.08%. CAC 40 and DAX was up 0.29% and 0.06% respectively while, the US Nasdaq was also up 1%.

All eyes are set on the RBI’s monetary policy meeting today. The results of the meeting will be out within a few hours.

Today’s monetary policy announcement is crucial as it is likely to offer some guidance on the demonetisation drive. Apart from that, the announcement will also offer some clarity regarding economic growth and inflation.

A rate cut, or the lack thereof, is not as crucial as the governor’s thoughts on the impact of demonetisation. We want to know whether he expects the near-term demand slowdown to have a snowball effect on the economy and specific businesses. But no one at the RBI has offered a concrete view so far.

Gold was trading at Rs 27,935 per 10 gms and silver was trading at Rs 41,240 per kg.

The Indian rupee was trading at 67.92 per US dollar.

Out of 1882 stocks traded on the NSE, 698 declined and 904 advanced today.

Top 5 Nifty Gainers: Adani Ports & Sez (1.87%), HDFC (1.87%), M&M (1.26%), Hero MotoCorp (1.20%) and Tata Motors (1.02%).

Top 5 Nifty Losers: Sun Pharma (-4.28%), TCS (-1.02%), Lupin Ltd. (-0.80%), Wipro (-0.48%) and Tata Steel (-0.44%)

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