Wednesday 16 December 2015

Sensex, Nifty Consolidate Gains

Posted by suhani varma on Wednesday, December 16, 2015 with No comments


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The S&P BSE Sensex is trading at 25,501 up 181 points, while NSE Nifty is trading at 7,761 up 60 points. The BSE Mid-cap Index is trading up 0.72% at 10,783, whereas BSE Small-cap Index is trading up 0.76% at 11,422.

BHEL, NTPC, GAIL, Lupin, ONGC, Infosys, TCS, HUL, Hindalco and Cipla are among the gainers, whereas M&M, Tata Motors, ICICI Bank and Axis Bank are losing sheen on BSE.

The India VIX (Volatility) index down 3.27% to 16.7750. Some buying activity is seen in oil & gas, pharma, capital goods, IT, banking and metal sectors, while auto and consumer durables sectors are showing weakness on BSE.

Out of 1,760 stocks traded on the NSE,357 declined and 1,082 advanced today. A total of 30 stocks registered a fresh 52-week high in trades today, while eight stocks touched a new 52-week low on the NSE.

The Indian rupee opened higher by 2 paise at 66.90/$ in early trade on Wednesday, as against the previous close of 66.92/$. On the domestic front, RBI’s intervention in the Forex markets also aided the recovery in Indian rupee. The central bank is reported to have sold US dollars in the Forward markets after Indian rupee breached the psychological levels of 67. In international markets, investors will prefer to remain on the sidelines ahead of the outcome of US FOMC meeting. Although 25 basis points hike is a done deal, the focus will lie on the language of the policy statement. Fed has an onerous task of striking a balance by hiking rates as well as pacifying the markets by reiterating that the process of policy normalization will be gradual and gentle in order to avert the US economy from tilting into recession.

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