The BSE Sensex and NSE Nifty50 index swung between gains and losses through the day and traded in a narrow range on Monday ahead of GDP data to be announced later in the day and the Reserve Bank of India’s monetary policy meet on Tuesday.
Sensex closed 17.47 points up at 26145.67, while Nifty50 index closed 7.45 points down at 7,935.25.
In the 50-share index, Power Grid, IndusInd Bank, Infosys, Tata Power and Tata Motors gained between 1.35 per cent and 2.05 per cent. On the other hand, Asian Paints, Bharti Airtel, Vedanta, Coal India and NTPC slid between 1.50 per cent and 2.25 per cent.
Sectorwise, information technology, consumer durables, realty and auto witnessed the maximum gain on Monday, while telecom, energy and healthcare remained the top losers on the BSE sectoral space.
Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, said, “The market traded in a narrow range amid investors eyeing the upcoming important macroeconomic data- Q2FY16 GDP later today and RBI’s monetary policy tomorrow. RBI is likely to hold the rates because they have already cut the rate by 125 basis points during the year. Now the focus should be the transmission of 125 basis points, since banks lending rate has reduced only by an average of 30 basis points in the same time. Market participants are hopeful of GST bill passage; however concerns over FED meeting followed by ECB policy meet limited the gains.”
The BSE Smallcap index outperformed other major sectoral indices. The market breadth on the BSE stood positive as there were 1,632 shares on the gaining side against 1,071 shares on the losing side while 212 shares remain unchanged.
Tata Motors rose 1.39 per cent, Bajaj Auto gained 1.34 per cent while Maruti Suzuki shares inched down 0.07 per cent ahead of monthly auto sales numbers on Tuesday.
Shares in Bharti Airtel closed 2.09 per cent down after the company announced capex plans that included Rs 60,000 crore of investments over the next three years.
The European markets after a soft start were trading mixed, France’s CAC was up by 15.49 points or 0.31 per cent at 4,945.63, Germany’s DAX gained 76.99 points or 0.68 per cent to 11,370.75, while UK’s FTSE 100 was down by 16.89 points or 0.26 per cent to 6,358.26.
The Asian markets closed mostly lower on Monday as investors awaited key global policy and data events this week, including monetary policy meeting of the European Central Bank. Shanghai Composite rose modestly in volatile trade after posting their worst weekly performance since August last week on news of investigations into three major Chinese brokerages over suspected securities violations.
Stocks in Hong Kong though tumbled ahead of an IMF decision to include the Chinese yuan in its Special Drawing Rights reserve currency later in the day and China’s November PMI readings due on Tuesday.
Japanese shares eased after a slew of data painted a mixed picture of the world’s third largest economy. Japan’s factory output rose 1.4 per cent in October from a month ago, marking the second consecutive monthly rise, although the figure fell short of forecasts.
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Markets through the day
3.30 pm: Markets showed a choppy trade on Monday, though the major bourses managed to keep their head in green for most part of the day and ended the month on a flat note. Traders were a bit cautious ahead of the important Q2 GDP data announcement after the market hours and the Reserve Bank of India’s (RBI) fifth bi-monthly monetary policy review slated for Tuesday. While, it is highly unlikely that RBI governor Raghuram Rajan will tinker with the key rates, but traders will be eyeing his statement as the retail inflation continued to inch up, rising to 5 per cent in October from 4.41 per cent in September and 3.74 per cent in the month before.
The BSE Sensex ended 17.47 points up at 26145.67, while Nifty50 index closed 7.45 points down at 7935.25.
3.04 pm: Benchmark indices again turned flat, Sensex was trading 0.79 points up at 26,128. Nifty was down 5.55 points at 7,937. Rate sensitives, ICICI Bank and Bajaj Auto were trading over 2 per cent up in the afternoon trade ahead of the central bank’s monetary policy meet on Tuesday
2.59 pm: Sensex was up 89.26 points at 26,217. Nifty was up 20.60 points at 7,963. United Arab Emirates (UAE) would contribute to the $75 billion fund allotted for investments in India for which it has identified key sectors including railways, housing, ports, roads and renewable energy (mainly solar). Abu Dabhi Investment Authority (ADIA) had announced to invest a huge $75 bn for various sectors where the government is seeking FDI to boost economy.
2.43 pm: Shemaroo Entertainment joined hands with Videocon d2h to launch ‘d2h Darshan’ – a 24 hr ad-free devotional service. The share price of Shemaroo was trading 2.92 per cent at Rs 278.10. Sensex was up 41 points at 26,169, while Nifty 50 index was up 2.45 points at 7,945.
2.09 pm: Bharti Airtel on Monday said it will invest Rs 60,000 crore over three years on expanding networks that will help improve the quality of services. The share price of the telecom major was trading 1.79 per cent down at Rs 335.55.
1.58 pm: European shares opened lower on Monday, led by BHP Billiton after news Brazil could seek damages for the burst of a dam, while Delta Lloyd slumped on capital raising plans. The pan-European FTSEurofirst 300 index was down 0.3 per cent by 0812 GMT, having lost 0.26 per cent on Friday, while the Euro STOXX 50 was also down 0.3 per cent.
1.32 pm: Hinduja Group flagship firm Ashok Leyland bagged an order for 3,600 vehicles worth $200 million (about Rs 1,335 crore) from Cote D’Ivoire. Shares of Ashok Leyland were 0.77 per cent up at Rs 98.25.
1.03 pm: Future Retail shares climbed further, the scrip was trading 17.85 per cent up at Rs 170. Sensex was marginally up 11 points at 26,139.
12.45 pm: The broader indices were trading in green; the BSE Midcap index was up by 0.29 per cent, while Smallcap index was up by 0.85 per cent. Karthik Rangappa, vice president, education and research, Zerodha, said, “From a near term perspective, we are bullish on the small and mid cap space. In fact in today’s trading session we are witnessing some smart delivery based buying in mid and small cap stocks. However we feel investors should avoid rate sensitive stocks for now.”
12.34 pm: Kwality was trading 2.31 per cent up at Rs 121.80. The share price of the company gained after it informed BSE that the company would start distribution of their products i.e. Milk, Curd and Chaach under the brand ‘Kwality’. The three categories of Milk i.e. Full Cream, Toned and Double Toned; would be available in pouches in Delhi NCR from November 30, 2015. Sensex was up 32 points at 26,160.
12.26 pm: Shares of automobile companies gained about 2 per cent in early trade on Monday on hopes of strong monthly sales figures to be released on Tuesday and inclusion of Maruti Suzuki, Tata Motors and Ashok Leyland to the MSCI India index. Shares of Tata Motors, Maruti Suzuki and Ashok Leyland were up 1.86 per cent, 1.12 per cent and 0.87 per cent, respectively.
12.15 pm: Shares of IDBI Bank were up 9.20 per cent on reports that IFC may pick up 15 per cent stake in IDBI Bank. The BSE Bankex was up 0.55 per cent at 19,966.82.
11.58 am: Future retail shares were trading 12.44 per cent up at Rs 162.20. Sensex and Nifty 50 were down 20.12 points and 5.15 points at 26,108 and 7,937.
11.54 am: Share price of Cipla gained 0.86 per cent after the company announced its readiness to supply its combinations Tenofovir/ Emtricitabine / Efavirenz and Tenofovir/ Lamivudine /Efavirenz with a dose of 400 mg of Efavirenz as a first-line initial therapy for HIV infection.
The pharma major also inked an investment pact with FIL Capital Investments (Mauritius) II for its consumer healthcare business.
11.33 am: Meanwhile, Tata Motors has unveiled pictures of the Zica, a compact hatchback ahead of its official launch next month. Zica is a ground-up product from India’s biggest automobile manufacturer, and is among the two new product launches promised by the company every year. Expected to be priced around Rs 4 lakh, Zica will have petrol and diesel engine options. The petrol engine will be 1.2-litre expected to produce 85 PS of peak power and 110 Nm of peak torque. The diesel motor will be a new 1.0-litre mill that will make 70 PS of peak power and 140 Nm of peak torque. The share price of Tata Motors was up 1.60 per cent at Rs 424.25.
11.11 am: Sensex was marginally up 1.26 points at 26,129. On the other hand, Nifty was marginally down 6.45 points 7,936. According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net buyers of Rs 3,036.01 crore in index futures and options segments, as per Friday’s data, November 27, 2015.
FIIs were net buyers of index futures to the tune of Rs 301.85 crore and they bought index options worth Rs 2734.16 crore. In the stock segment, FII’s were net buyers of stock futures worth Rs 349.21 crore, while they bought stock options worth Rs 143.56 crore.
10.52 am: Maruti Suzuki India (MSIL), the largest passenger cars maker in India, is planning to invest nearly Rs 15,000 crore over the next five years, to buy land in the country and to ramp up its dealership network. The company is looking to double its annual sales volume from the current 1.1 million units to 2 million units by 2020. In order to achieve this target, the company is planning to expand its dealer base across the length and breadth of the country. The total investment amount needed for ramping up the distribution and dealership network was nearly Rs 30,000 crore. Out of this, the company will be investing half of the money, and dealers will be putting in the other half. The company currently has nearly Rs 13,000 crore in reserves. The share price of the company was trading over 2 per cent up at Rs 4,693.
10.21 am: Reliance Industries is facing a 40 per cent cut in the marketing margin it charges on selling its KG-D6 gas to fertiliser and LPG plants after the government notified a ceiling of Rs 200 per thousand standard cubic meters (scm). The share price of the company was down 0.65 per cent at Rs 972.70.
The combined market valuation of top eight Sensex companies rose by Rs 31,922 crore last week, with RIL emerging as the biggest gainer. Barring TCS and ITC in the top 10 companies by market
capitalisation, eight saw rise in m-cap in a positive broader market trend wherein the BSE benchmark Sensex gained 259.71 points to end the last week at 26,128.20. RIL’s m-cap surged Rs 10,721.28 crore to Rs 3,17,120.03 crore, making the biggest gain among the top-10 firms.
10.18 am: Sensex was up 8.59 points at 26,136. Nifty was down 5.70 points at 7937. Caution prevailed ahead of RBI’s fifth bi-monthly monetary policy review on Tuesday and continuing fund outflows
by foreign investors amid weakness at other Asian markets.
10.08 am: The rupee depreciated 8 paise to quote at fresh over two-year low of 66.84 against the dollar in early trade today on month-end demand for the American currency from importers and banks.
10.04 am: Shares of Rajesh Exports jumped over 2 per cent in the early trade after the company informed stock exchanges that it has bagged an export order worth Rs 1,122 crore of designer range of gold and diamond studded jewellery and medallions from UAE. The order is to be completed by March 31, 2016. The scrip was trading 2.34 per cent up at Rs 695.20.
10.00 am: HDFC Mutual Fund has launched the HDFC Sensex ETF, an open ended other ETF scheme. The NFO opens for subscription on November 30, 2015 and closes on December 02, 2015. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000. The scheme’s performance will be benchmarked against S&P BSE SENSEX Index and its fund manager is Krishan Kumar Daga.
9.58 am: In the 50-share index, Bajaj Auto, Tata Motors, Maruti Suzuki, ICICI Bank, Bank of Baroda were up between 1.05 per cent and 2.20 per cent. On the other hand, Cairn India, Sun Pharma, Idea Cellular, Ambuja Cements and GAIL were down between 0.80 per cent and 1.40 per cent. Nifty 50 index was up 7.45 points at 7,951.
9.41 am: Tata Global Beverages (TGBL) has launched an instant coffee product in the Indian market under the brand name ‘Tata Coffee Grand’ on November 29, 2015. The product has been jointly developed by TGBL and its subsidiary, Tata Coffee (TCL). The product will be manufactured by TCL and marketed and distributed by TGBL. Shares of Tata Global Beverages and Tata Coffee were trading 0.33 per cent and 0.45 per cent up at Rs 137.40 and Rs 90.10, respectively.
9.33 am: Shares of Cipla was trading 0.25 per cent down at Rs 641 apiece. Private equity firm Fidelity Growth Partners has signed an agreement with Cipla for investing in its consumer healthcare business. Cipla’s board had given nod to the transaction in July and an investment agreement was signed on Friday. In July the board also proposed the divestment of consumer healthcare (OTC segment) business to a subsidiary. In the last fiscal the segment contributed Rs 34.8 crore in revenue which was about 0.3 per cent of total consolidated income. Sensex was up 72.33 points at 26,200. Nifty was up 13.55 points at 7,956.
9.16 am: The troubled auto component maker Amtek Auto on Saturday said it has suffered a consolidated net loss of Rs 987 crore for the year ended September against a net profit of Rs 848.21 crore last year. Shares of Amtek Auto was trading 5.15 per cent down at Rs 40.50 in the early trade.
9.15 am: Domestic equity markets opened on a flat note on Monday tracking Asian markets. The BSE Sensex opened 14.33 points up at 26,142. NSE Nifty 50 index opened 6.45 points down at 7936.25.
Asian shares were on edge on Monday after a sharp fall in Chinese markets in the previous session, while the euro hovered near seven-month low as the currency braced for the European Central Bank’s monetary easing later this week.
On Friday, the Shanghai Composite index and the CSI300 both fell more than 5 per cent, registering their biggest one-day drops in more than three months on signs that the country’s securities regulator was clamping down anew on leveraged buying.
Back home, Sensex closed 169.57 points up at 26,128 on Friday on hopes of a likely breakthrough in the passage of the Goods and Services Tax (GST) in the current Winter session of the Parliament. Nifty 50 index closed 58.90 points up at 7,942.70.
(With inputs from agencies)
