By | December 13, 2016

Key benchmark indices registered modest gains. The barometer index, the S&P BSE Sensex, rose 182.58 points or 0.69% to settle at 26,697.82. The Nifty 50 index rose 51 points or 0.62% to settle at 8,221.80. Both the Sensex and the Nifty almost hovered in positive terrain throughout the trading session after initial volatility. The two key indices extended intraday gains towards the later part of the trading session.

Overseas, European stocks edged higher ahead of the much-awaited US Federal Reserve`s monetary policy statement due tomorrow, 14 December 2016. Most Asian stocks ended higher. In mainland China, the Shanghai Composite settled 0.07% higher. In Hong Kong, the Hang Seng ended 0.06% higher. Industrial production in China rose unexpectedly last month, official data showed today, 13 December 2016. In a report, National Bureau of Statistics of China said that Chinese industrial production rose to 6.2% in November, from 6.1% in the preceding month.

US stocks struggled for direction yesterday, 12 December 2016, with the Dow notching the latest in a string of record closes, while the S&P 500 and Nasdaq finished lower. Major indexes had fluctuated between positive and negative territory with investors appearing reluctant to push shares higher following pronounced gains for Wall Street ahead of a key meeting by the Federal Reserve.

The Fed is expected to raise interest rates for only the second time in a decade amid recent data suggesting the US recovery is gaining traction. Higher US interest rates would attract foreign investments from the emerging markets towards the US.

Back home, the Sensex rose 182.58 points or 0.69% to settle at 26,697.82, its highest closing level since 9 December 2016. The index rose 209.73 points, or 0.79% at the day`s high of 26,724.97. The index fell 21.01 points, or 0.08% at the day`s low of 26,494.23.

The Nifty 50 index rose 51 points or 0.62% to settle at 8,221.80, its highest closing level since 9 December 2016. The index rose 58.05 points, or 0.71% at the day`s high of 8,228.85. The index fell 15 points, or 0.18% at the day`s low of 8,155.80.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,304 shares fell and 1,281 shares rose. A total of 191 shares were unchanged. The BSE Mid-Cap index fell 0.43%. The BSE Small-Cap index fell 0.07%. Both these indices underperformed the Sensex.

Among the sectoral indices on BSE, the S&P BSE Realty index (down 1.1%), the S&P BSE Basic Materials index (down 1.09%), the S&P BSE Metal index (down 1%), the S&P BSE Utilities index (down 0.13%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.1%), the S&P BSE Power index (down 0.07%), the S&P BSE Consumer Durables index (down 0.04%), the S&P BSE Finance index (up 0.20%), the S&P BSE Capital Goods index (up 0.23%), the S&P BSE Healthcare index (up 0.25%), the S&P BSE Bankex (up 0.48%) and the S&P BSE FMCG index (up 0.60%), underperformed the Sensex. The S&P BSE Telecom index (up 0.70%), the S&P BSE Teck index (up 0.71%), the S&P BSE Energy index (up 0.78%), the S&P BSE Oil & Gas index (up 0.81%), the S&P BSE IT index (up 0.85%), the S&P BSE Industrials index (up 0.90%) and the S&P BSE Auto index (up 0.98%), outperformed the Sensex.

Auto stocks rose. TVS Motor Company (up 4.27%), Tata Motors (up 3.48%), Bajaj Auto (up 0.50%), Eicher Motors (up 0.32%), Maruti Suzuki India (up 0.29%) and Mahindra & Mahindra (up 0.06%), edged higher. Hero MotoCorp (down 0.08%), Escorts (down 0.3%) and Ashok Leyland (down 1.58%), edged lower.

Index heavyweight and cigarette major ITC rose 1.18% at Rs 235.30. The stock hit a high of Rs 236.80 and a low of Rs 232.40 in intraday trade.

Housing Finance major HDFC rose 0.69% at Rs 1,271.10.

Software major Infosys advanced 1.28% at Rs 990.05.

Another index heavyweight Reliance Industries rose 1.15% at Rs 1,039.90.

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