Nifty hits more than eight-week closing high
Trading for the year 2016 began on a positive note as key benchmark indices settled slightly higher after a volatile session of trade. The barometer index, the S&P BSE Sensex, rose 43.36 points or 0.17% to settle at 26,160.90. The 50-unit Nifty 50 index gained 16.85 points or 0.21% to settle at 7,963.20. The Sensex hit highest closing level in more than four weeks. The Nifty hit more than eight-week closing high. Key indices gained for the second day in a row today, 1 January 2016.
The Sensex rose 43.36 points or 0.17% to settle at 26,160.90, its highest closing level since 1 December 2015. The index rose 79.73 points or 0.3% at the day's high of 26,197.27 in late trade. The index lost 109.34 points or 0.41% at the day's low of 26,008.20 in early trade.
The Nifty gained 16.85 points or 0.21% to settle at 7,963.20, its highest closing level since 4 November 2015. The index rose 26.20 points or 0.32% at the day's high of 7,972.55 in late trade. The index dropped 36.55 points or 0.45% at the day's low of 7,909.80 in early trade.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,990 shares rose and 834 shares fell. A total of 127 shares were unchanged.
The BSE Mid-Cap index rose 0.92%. The BSE Small-Cap index gained 0.88%. Both these indices outperformed the Sensex.
HDFC fell 0.45% after the company said that profit on sale of investments fell 49.56% to Rs 57 crore in Q3 December 2015 as against Rs 113 crore in Q3 December 2014. The announcement was made after market hours yesterday, 31 December 2015. Income from dividend for the quarter ended 31 December 2015 was Rs 135 crore compared to Rs 103 crore in the corresponding quarter of the previous year. This includes dividend of Rs 127 crore from HDFC Standard Life Insurance Company, the company said in a statement.
HDFC, under the loan assignment route, sold loans amounting to Rs 1240 crore in the quarter ending 31 December 2015 to HDFC Bank compared to Rs 1234 crore during the corresponding quarter of the previous year. Loans sold in the preceding twelve months amounted to Rs 12975 crore, the company said.
Auto stocks gained. Ashok Leyland (up 0.85%), Eicher Motors (up 3.03%), and Tata Motors (up 2.66%) gained.
Maruti Suzuki India rose 0.43% after the company said that the total sales rose 8.5% to 1.19 lakh units in December 2015 over December 2014. Domestic sales rose 13.5% to 1.11 lakh units in December 2015 over December 2014. Exports fell 33.1% to 7,816 units in December 2015 over December 2014. The company made the announcement during market hours today, 1 January 2016.
Mahindra & Mahindra (M&M) shed 0.91% after the company reported a small rise in auto and tractor sales in December. The company said total auto sales rose 4% to 37,915 units in December 2015 over December 2014. Domestic sales rose 1% to 34,839 units in December 2015 over December 2014. Exports jumped 65% to 3,076 units in December 2015 over December 2014. The announcement was made during market hours today, 1 January 2016.
Separately, M&M said that total tractor sales rose 3% to 12,868 units in December 2015 over December 2014. Domestic sales rose 4% to 11,686 units in December 2015 over December 2014. Exports fell 1% to 1,182 units in December 2015 over December 2014. The announcement was made during market hours today, 1 January 2016.
Shares of two wheeler makers declined. Bajaj Auto (down 0.53%), Hero MotoCorp (down 0.51%), and TVS Motor Company (down 1.26%) declined.
Realty stocks rose. Sobha (up 1.45%), Indiabulls Real Estate (up 2.74%), DLF (up 4.7%), Unitech (up 2.7%), Housing Development & Infrastructure (HDIL) (up 0.71%), Oberoi Realty (up 1.45%), and Phoenix Mills (up 0.77%) edged higher. Godrej Properties fell 0.36%.
Capital goods stocks gained. Havells India (up 5.33%), ABB India (up 0.17%), L&T (up 1.01%), BEML (up 2.16%), and Siemens (up 0.42%) gained.
Bharat Heavy Electricals (Bhel) gained 1.03%. Bhel announced during market hours today, 1 January 2016 that Atul Sobti has assumed charge as Chairman and Managing Director (CMD) of the company with effect from today, 1 January 2016. Prior to this, Sobti was a director on the board of Bhel, heading two crucial portfolios of power and finance.
Bank stocks gained. Among public sector banks, Punjab National Bank (up 1.73%), Bank of Baroda (up 1.44%), State Bank of India (SBI) (up 1.45%), Union Bank of India (up 1.01%), and Bank of India (up 1.87%) edged higher.
Canara Bank gained 1.93% after the bank announced after market hours yesterday, 31 December 2015, that the bond committee has decided to raise Basel III compliant Tier-II bonds amounting to Rs 1500 crore by way of private placement. Accordingly, the bank has successfully raised Rs 1500 crore under Basel-III compliant Tier-II bonds on 31 December 2015 with a coupon of 8.4% per annum.
Among private sector banks, Axis Bank (up 0.07%), ICICI Bank (up 0.59%), HDFC Bank (up 0.54%), and Kotak Mahindra Bank (up 0.83%) edged higher. IndusInd Bank declined 0.19%.
Yes Bank rose 0.85% after the bank announced after market hours yesterday, 31 December 2015, that it successfully raised Rs 1500 crore of Basel III compliant Tier II bonds. The issue closed on 31 December 2015. The issue was rated "ICRA AA+ hyb" by ICRA and "CARE AA+" by CARE. The bonds will be listed on the BSE.
Key indices gained for the second day in a row today, 1 January 2016. From a recent low of 25,960.03 on 30 December 2015, the Sensex has gained 200.87 points or 0.77%, in two trading sessions. The Sensex had declined 28.13 points or 0.1% in December. The barometer index had fallen 1,381.88 points or 5.02% in calendar year 2015. From a 52-week low of 24,833.54 hit on 8 September 2015, the Sensex has risen 1,327.36 points or 5.34%. The Sensex is off 3,863.84 points or 12.86% from a record high of 30,024.74 hit on 4 March 2015.
Among macro data, the combined index of eight core industries comprising nearly 38% of the weight of items included in the index of industrial production (IIP) fell 1.3% in November 2015 over November 2014. The data was announced after market hours yesterday, 31 December 2015.
In overseas equity markets, European markets remained closed today, 1 January 2016 on account of New Year holiday. Asian stocks were mixed amid many markets remaining close for New Year holiday. US stocks closed lower yesterday, 31 December 2015, with trading seen lighter than usual ahead of the New Year's Day holiday.
The Sensex rose 43.36 points or 0.17% to settle at 26,160.90, its highest closing level since 1 December 2015. The index rose 79.73 points or 0.3% at the day's high of 26,197.27 in late trade. The index lost 109.34 points or 0.41% at the day's low of 26,008.20 in early trade.
The Nifty gained 16.85 points or 0.21% to settle at 7,963.20, its highest closing level since 4 November 2015. The index rose 26.20 points or 0.32% at the day's high of 7,972.55 in late trade. The index dropped 36.55 points or 0.45% at the day's low of 7,909.80 in early trade.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,990 shares rose and 834 shares fell. A total of 127 shares were unchanged.
The BSE Mid-Cap index rose 0.92%. The BSE Small-Cap index gained 0.88%. Both these indices outperformed the Sensex.
HDFC fell 0.45% after the company said that profit on sale of investments fell 49.56% to Rs 57 crore in Q3 December 2015 as against Rs 113 crore in Q3 December 2014. The announcement was made after market hours yesterday, 31 December 2015. Income from dividend for the quarter ended 31 December 2015 was Rs 135 crore compared to Rs 103 crore in the corresponding quarter of the previous year. This includes dividend of Rs 127 crore from HDFC Standard Life Insurance Company, the company said in a statement.
HDFC, under the loan assignment route, sold loans amounting to Rs 1240 crore in the quarter ending 31 December 2015 to HDFC Bank compared to Rs 1234 crore during the corresponding quarter of the previous year. Loans sold in the preceding twelve months amounted to Rs 12975 crore, the company said.
Auto stocks gained. Ashok Leyland (up 0.85%), Eicher Motors (up 3.03%), and Tata Motors (up 2.66%) gained.
Maruti Suzuki India rose 0.43% after the company said that the total sales rose 8.5% to 1.19 lakh units in December 2015 over December 2014. Domestic sales rose 13.5% to 1.11 lakh units in December 2015 over December 2014. Exports fell 33.1% to 7,816 units in December 2015 over December 2014. The company made the announcement during market hours today, 1 January 2016.
Mahindra & Mahindra (M&M) shed 0.91% after the company reported a small rise in auto and tractor sales in December. The company said total auto sales rose 4% to 37,915 units in December 2015 over December 2014. Domestic sales rose 1% to 34,839 units in December 2015 over December 2014. Exports jumped 65% to 3,076 units in December 2015 over December 2014. The announcement was made during market hours today, 1 January 2016.
Separately, M&M said that total tractor sales rose 3% to 12,868 units in December 2015 over December 2014. Domestic sales rose 4% to 11,686 units in December 2015 over December 2014. Exports fell 1% to 1,182 units in December 2015 over December 2014. The announcement was made during market hours today, 1 January 2016.
Shares of two wheeler makers declined. Bajaj Auto (down 0.53%), Hero MotoCorp (down 0.51%), and TVS Motor Company (down 1.26%) declined.
Realty stocks rose. Sobha (up 1.45%), Indiabulls Real Estate (up 2.74%), DLF (up 4.7%), Unitech (up 2.7%), Housing Development & Infrastructure (HDIL) (up 0.71%), Oberoi Realty (up 1.45%), and Phoenix Mills (up 0.77%) edged higher. Godrej Properties fell 0.36%.
Capital goods stocks gained. Havells India (up 5.33%), ABB India (up 0.17%), L&T (up 1.01%), BEML (up 2.16%), and Siemens (up 0.42%) gained.
Bharat Heavy Electricals (Bhel) gained 1.03%. Bhel announced during market hours today, 1 January 2016 that Atul Sobti has assumed charge as Chairman and Managing Director (CMD) of the company with effect from today, 1 January 2016. Prior to this, Sobti was a director on the board of Bhel, heading two crucial portfolios of power and finance.
Bank stocks gained. Among public sector banks, Punjab National Bank (up 1.73%), Bank of Baroda (up 1.44%), State Bank of India (SBI) (up 1.45%), Union Bank of India (up 1.01%), and Bank of India (up 1.87%) edged higher.
Canara Bank gained 1.93% after the bank announced after market hours yesterday, 31 December 2015, that the bond committee has decided to raise Basel III compliant Tier-II bonds amounting to Rs 1500 crore by way of private placement. Accordingly, the bank has successfully raised Rs 1500 crore under Basel-III compliant Tier-II bonds on 31 December 2015 with a coupon of 8.4% per annum.
Among private sector banks, Axis Bank (up 0.07%), ICICI Bank (up 0.59%), HDFC Bank (up 0.54%), and Kotak Mahindra Bank (up 0.83%) edged higher. IndusInd Bank declined 0.19%.
Yes Bank rose 0.85% after the bank announced after market hours yesterday, 31 December 2015, that it successfully raised Rs 1500 crore of Basel III compliant Tier II bonds. The issue closed on 31 December 2015. The issue was rated "ICRA AA+ hyb" by ICRA and "CARE AA+" by CARE. The bonds will be listed on the BSE.
Key indices gained for the second day in a row today, 1 January 2016. From a recent low of 25,960.03 on 30 December 2015, the Sensex has gained 200.87 points or 0.77%, in two trading sessions. The Sensex had declined 28.13 points or 0.1% in December. The barometer index had fallen 1,381.88 points or 5.02% in calendar year 2015. From a 52-week low of 24,833.54 hit on 8 September 2015, the Sensex has risen 1,327.36 points or 5.34%. The Sensex is off 3,863.84 points or 12.86% from a record high of 30,024.74 hit on 4 March 2015.
Among macro data, the combined index of eight core industries comprising nearly 38% of the weight of items included in the index of industrial production (IIP) fell 1.3% in November 2015 over November 2014. The data was announced after market hours yesterday, 31 December 2015.
In overseas equity markets, European markets remained closed today, 1 January 2016 on account of New Year holiday. Asian stocks were mixed amid many markets remaining close for New Year holiday. US stocks closed lower yesterday, 31 December 2015, with trading seen lighter than usual ahead of the New Year's Day holiday.
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