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Daily Market Commentary : 15th Dec. 2016

Towards end of the trading hours, Sensex and Nifty both lost points it had gained in the afternoon hours of trade. Both indices closed in red, Nifty ended at 8153 while Sensex ended losing more than 80 points. Nifty sectoral indices end on a mixed note wherein Nifty PSU Bank had gained 0.75%, followed by Nifty IT which gained 0.66% while Nifty Pharma and FMCG were worst hit, down 1.88% and 0.87% respectively.

Nifty closed with down of 29 points and closed at 8,153, while BSE Sensex ended with a loss of 84 points at 26519.

Majority of the Asian indices, with the exception of Japan, ended on a weaker note due to the US Federal Reserve’s hawkish outlook on interest rates. Hong Kong’s Hang Seng ended at 22059 down 1.77%, Singapore’s Straits Times ended at 2930 down 0.79%, China’s Shanghai Composite ended at 3117 down 0.73%, however Japan’s Nikkei 225 closed at 19273 up 0.1%, the only index to end in green.

On the other hand, the European benchmark indices were up in early trade after the US Central bank announcement where it had raised its policy interest rate by 25 bps and indicated three hikes next year. The banking stocks were the lead gainers across Europe, as Market participants saw the US rate hike as a positive for the financial sector, which has been struggling with low yields for close to almost 8 years. CAC-40 was trading at 4797 up 0.60%, DAX was trading at 11304 up 0.53% and FTSE 100 was trading at 6936 down 0.19%. The US Nasdaq was trading at 5436 down 0.50%

Bajaj Auto up 1% on launch of Bajaj Dominar 400 cc bike.

Rallis India H1 FY17 EPS jumped 42% YoY and demonetisation is likely to exert pressure on H2 FY17 performance. Promising progress in new molecule development in CRAMS, and opportunity for sharp earnings growth over next 3-5 years.

Ramco Systems up 8.5% as GoAir upgrades Ramco Aviation Suite V5.5 to V5.8 across 23 locations to experience power of Mobility and Anywhere Apps.

Infosys stocks up +1.53%, Company makes announcement on investment plans in ideaForge.

Indian Oil Corp sought up to 80,000 tonnes of 40ppm sulphur diesel for delivery in late December.

Gold was trading at Rs 27,156 per 10 gms and silver was trading at Rs 40,565 per kg.

The Indian rupee was trading at 67.82 per dollar.

Out of 1470 stocks traded on the NSE, 701 declined and 697 advanced today.

Top 5 Nifty Gainers: Tata Motors (1.19%), Infosys Ltd. (1.06%), HDFC (1.06%), Maruti Suzuki (0.80%) and NTPC (0.56%).

Top 5 Nifty Losers: ONGC (-2.16%), Adani Ports & Sez (-1.53%), BHEL (-1.44%), ICICI Bank (-1.27%) and Hero Motocorp (-1.20%)

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Daily Market Commentary : 15th Dec. 2016


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