Tuesday, 2 January 2018

Sensex, Nifty Trade Volatile; Bank Of Baroda, SBI Stocks Down

Posted by suhani varma on Tuesday, January 02, 2018 with No comments



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Indices erased opening gains to trade flat, with the Nifty trading below 10,450 level and the broader markets wiping out gains.

the BSE Sensex was trading at 33,811, down mere 6 points, while the Nifty50 was ruling at 10,438, up 2 points.

On the economy front, the Nikkei India Manufacturing Purchasing Managers' Index, or PMI, rose to a 5-year high of 54.7 in December from 52.6 in November.

PSU Bank Index were trading lower as banks gear up to refer as many as 24 out of 28 identified large stressed accounts to insolvency proceedings.

Metal shares declined. Hindustan Copper (-2.35%), Steel Authority of India (-2.21%), Jindal Steel & Power (-2.18%), Bhushan Steel (-2.16%), Vedanta (-1.56%), JSW Steel (-0.92%), Tata Steel (-0.91%), National Aluminium Company (-0.82%), Hindalco Industries (-0.55%) and Hindustan Zinc (-0.47%), edged lower. NMDC was up 0.71%.

Share price of Lovable Lingerie stock rallied 3% on the back of buyback offer.

Bajaj Auto gained 0.40% after total sales rose 30% to 2.92 lakh units in December 2017 over December 2016.

TVS Motor Company stock gained 2% on the after the company registered 39% growth in sales at 256,909 units in the month of December 2017. It had sold 184,944 units in December 2016.

Cement shares declined. ACC (-0.41%), Ambuja Cements (-0.13%) and UltraTech Cement (-0.08%), edged lower.

The BSE Mid-cap and BSE Small-cap indices were down 0.53% and 0.49%, respectively.

Volatility index India VIX rose 2.22%

Infratel (+2.4%), Wipro (+2.2%), Tech Mahindra (+2.1%), Tata Motors (+1.9%) and ONGC (+1.9%) were the top gainers on Nifty50.

Eicher (-2.7%), HPCL (-2.2%), Indiabulls HF (-2.1%), BPCL (-1.5%) and Aurobindo (-1.1%) were the top losers in today’s trade.

Out of 1,996 stocks traded on the NSE, 519 advanced, 1,128 declined and 349 remained unchanged today.

A total of 67 stocks registered a fresh 52-week high in trade today, while one stocks touched a new 52-week low on the NSE.

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