Friday, 9 December 2016

Market ends with small gains : 09 Dec 2016


Key benchmark indices ended on a positive note after hovering in a narrow range for the most part of the session. The barometer index, the S&P BSE Sensex, up 52.90 points or 0.20% to 26,747.18, as per the provisional closing data. The Nifty 50 index rose 14.90 points or 0.18% to 8,261.75, as per the provisional closing data.

The Sensex rose 109.48 points, or 0.41% at the day`s high of 26,803.76 in early afternoon trade, its highest level since 15 November 2016. The index rose 13.53 points or 0.05% at the day`s low of 26,707.81 in morning trade. The Nifty rose 28.10 points, or 0.34% at the day`s high of 8,274.95 in early afternoon trade, its highest level since 15 November 2016. The index fell 4.90 points or 0.06% at the day`s low of 8,241.95 in morning trade.

Back home, the market breadth, indicating the overall health of the market, was positive. On BSE, 1,431 shares rose and 1,183 shares fell. A total of 186 shares were unchanged. The BSE Mid-Cap index provisionally rose 0.21%. The BSE Small-Cap index provisionally rose 0.52%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 2389.98 crore, lower than the turnover of Rs 2446.94 crore registered during the previous trading session.

Realty shares edged higher. Phoenix Mills (up 11.65%), Anant Raj (up 2.19%), Sunteck Realty (up 1.68%), D B Realty (up 1.61%), DLF (up 1.32%), Housing Development and Infrastructure (HDIL) (up 1.13%), Mahindra Lifespace Developers (up 0.99%), Oberoi Realty (up 0.86%), Prestige Estates Projects (up 0.83%), Parsvnath Developers (up 0.70%), Unitech (up 0.42%), Godrej Properties (up 0.15%) and Omaxe (up 0.09%), edged higher. Indiabulls Real Estate (down 0.07%), Peninsula Land (down 0.33%) and Sobha (down 0.38%), edged lower.

Gayatri Projects gained 1.64% after net profit rose 48.01% to Rs 9.99 crore on 10.32% rise in net total income from operations to Rs 349.95 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 8 December 2016.

IL&FS Engineering and Construction Company rose 2.14% after the company announced that it has emerged as the lowest bidder for rural electrification (RE) works of Jharkhand Bijli Vitran Nigam (JBVNL), Ranchi worth Rs 225 crore in package of Sahibganj comprising Sahibganj and Pakur districts in Jharkhand state under Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY). The announcement was made after market hours yesterday, 8 December 2016.

DDUGJY-RE contracts are being funded by Rural Electrification Corporation (REC). The completion schedule of the works is 24 months. IL&FS Engineering Services has been involved in rural electrification works in the states of West Bengal, Rajasthan, Orissa, and Uttar Pradesh.

Overseas, most European shares edged higher in early trading today, 9 December 2016, underpinned by a rebound in healthcare stocks. Asian shares were mixed after the European Central Bank (ECB) trimmed the size of its asset purchase program. In mainland China, the Shanghai Composite ended 0.54% higher. In Hong Kong, the Hang Seng ended 0.44% lower.

China`s consumer inflation picked up for a third-straight month in November, but remained below the upper limit of a government target range, official data showed today, 9 December 2016. China`s consumer price index increased 2.3% in November from a year earlier, rising at a quicker pace than a 2.1% year-over-year gain in October, the National Bureau of Statistics said. It added that strength in food prices was the main factor pushing up the headline figure.

US stocks closed at record high levels yesterday, 8 December 2016, after the ECB outcome. ECB yesterday, 8 December 2016, pledged to continue with its program of money printing to shore up the eurozone recovery but surprised financial markets by reducing the amount of stimulus it expects to provide each month.

ECB left interest rates unchanged and said it would continue its program of quantitative easing (QE) to next December or beyond if necessary. But the central bank said it would reduce its monthly asset buys to 60 billion euros as of April, from the current 80 billion euros. It, however, said it reserved the right to increase the size of purchases again.

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