The market held its ground today and closed on a positive note. There were hopes that Nifty would cross 8200, however, this mark was missed and it ended below 8150. Sensex although remained steady but lost momentum towards the end of the day.

Nifty closed 15 points higher at 8142.15 points, while BSE Sensex ended with a gain of 44 points at 26394.01.

Fitch cuts India’s FY17 real GDP growth forecast to 6.9% from 7.4%, medium-term effect of demonetisation unlikely to be large on GDP growth. The Fitch report also added that the RBI policy rate has been slashed by 150bps since the beginning of 2015 which is likely to spur higher GDP growth.

On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index closed higher 0.19% and Hong Kong’s Hang Seng index slipped 0.41% while Nikkei 225 also slipped 0.27%.

In Europe, the FTSE 100 was down 0.45%. CAC 40 and DAX were trading in green while, the US Nasdaq was also down 0.56%.

Gold was trading at Rs 28670 per 10 gms and silver was trading at Rs 40540 per kg.

The Indian rupee was trading at 68.65 per US dollar.

Out of 1182 stocks traded on the NSE, 580 declined and 1034 advanced today.

Top 5 Nifty Gainers: ICICI Bank (1.80%), TCS (1.35%), Adani Ports & Sez (1.34%), Maruti Suzuki (1.27%) and Wipro (1.23%).

Top 5 Nifty Losers: Tata Steel (-0.66%), GAIL (-0.49%), Reliance Ind. (-0.41%), Tata Motors (-0.25%) and Coal India (-0.16%)

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