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Daily Market Commentary : 27th Jan. 2017

After opening the day in the green, the Indian share markets have continued to trade strong and are currently trading above the dotted line. With the exception of stocks in the FMCG sector all sectoral indices are trading on a positive note. Stocks in the Power sector and the banking sector are leading the gains.

NSE Nifty was up 38.50 points or 0.4 percent at 8641.25, while BSE Sensex closed up 174.32 points or 0.6 percent at 27882.46.

Fertiliser stocks fell in the last hour of the trading. L&T fell in the last hour of the trading dragging the major indices down. FMCG major, ITC dragged the indices taking cues from its poor Q3 results.

Bank stocks were the leaders in today’s market with Icici Bank leading the way. NIFTY Bank Closed at 19707.6 levels, up by 1.2%.

ICICI Bank closed up by 4.6%, BoB closed up by 3.58%, PNB up by 3% and SBI up by 2.76%.

Kotak Mahindra Bank closed down by 1.34%, IndusInd Bank down by 0.91% and Yes Bank closed down by 0.49% on Friday.

NTPC: – NTPC soars, as it raises 500 million through euro denominated bonds. This would be the longest Euro denominated bond ever by any Indian company. NTPC has already got almost five times of the stipulated issue size, the bids being nearly 2.4 billion euros. The issue saw investments from 125 different investors across the globe.

ICICI Bank: – The private bank saw OI spurt by more than 34% even as the prices rose more than 5%, and this indicates fresh longs built.

Bank Nifty: – The Bank index has seen OI spurt by more than 34% on Friday, thus indicating fresh long positions.

IDEA & Bharti Airtel: – The two telecom stocks show traction on Friday with both the stocks closing at close to their day’s highs.

Symphony: – A sharp surge was seen in the stock by up to 15% in the last half hour of the trade on Friday.

The rupee was trading at 68.03 per US dollar.

About 1401 shares have advanced, 1387 shares declined, and 288 shares are unchanged.

Top 5 Nifty Gainers: BHEL (5.38%), Bharti Airtel (4.86%), ICICI Bank (4.72%), NTPC (3.13%), and SBI (2.85%).

Top 5 Nifty Losers: ITC Ltd. (-2.78%), Wipro (-1.57%), Lupin Ltd. (-1.54%), Tata Motors (-1.28%) and Hind. Unilever (-1.08%)

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Daily Market Commentary : 27th Jan. 2017


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