Thursday, 4 January 2018

Nifty Trades Above 10450 Level; SBI, Tata Steel Gain

Posted by suhani varma on Thursday, January 04, 2018 with No comments



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Key benchmark indices pared gains after hitting fresh intraday high in morning trade. The Nifty was hovering around 10,450 led by PSU Bank, Metal, Bank Nifty and FMCG stocks.

Equity benchmark indices were trading mildly higher, with the Sensex trading around 80 points higher, while the Nifty held the 10,450 mark.

On the economy front, the Indian service sector returned to marginal growth in the month of December. Services Purchasing Managers' Index or PMI stood at 50.9 for the month.

Shares of state-owned lenders jumped sharply, with the Nifty PSU Bank index rising 2.5% after a report said the government is likely to announce the details of the bank recapitalization bond today.

the BSE Sensex was trading at 33,885, up 92 points, while the Nifty50 was ruling at 10,467, up 24 points.

Aurionpro Solutions stock rallied 9% after its subsidiary Cyberinc announced to sell its Identity and Access Management business to KPMG in an all cash deal worth Rs217.6cr.

SJVN stock rose12% after the company said its board will consider a share buyback proposal on January 8.

The BSE Mid-cap and BSE Small-cap indices were up 0.42% and 0.69%, respectively.

Volatility index India VIX slipped 0.86%.

Coal India (+2.6%), Tata Steel (+2.4%), L&T (+2%), Dr. Reddy’s (+1.9%) and SBI (+1.6%) were the top gainers on Nifty50.

HCL Tech (-1.4%), Sun Pharma (-1.3%), Tata Motors (-0.90%), BPCL (-0.69%) and Hero MotoCorp (-0.61%) were the top losers in today’s trade.

Out of 2,001 stocks traded on the NSE, 1,107 advanced, 538 declined and 356 remained unchanged today.

A total of 139 stocks registered a fresh 52-week high in trade today, while two stocks touched a new 52-week low on the NSE.

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