Wednesday, 4 January 2017

Nifty Higher, Mid & Smallcap outperform; HDFC rebounds, RIL down

Equity Benchmarks gained strength amid consolidation as investors awaited the outcome of two-day GST Council meet later today. The broader markets continued to outperform on strong breadth.
The 30-share BSE Sensex was up 70.33 points at 26713.57 and the 50-share NSE Nifty rose 23.15 points to 8215.40 while the BSE Midcap and Smallcap indices gained 0.6 percent each.
About three shares advanced for every share falling on the BSE.
HDFC Rebounded after early losses, up 0.5 percent on short covering. Tata Motors extended gains, up more than 2 percent followed by ONGC, L&T, Infosys, Sun Pharma and ICICI Bank.
Reliance Industries erased early gains to trade 1 percent lower. ITC, Bharti Airtel and HDFC Bank remained under pressure with moderate losses.

Indian ADRs: Tata Motors up 3.2%, HDFC Bank down 2.5%

In the IT space,
Infosys was down 0.61 percent at USD 14.74 and Wipro shed 1.55 percent at USD 9.53.
In the banking space,
ICICI Bank was up 0.13 percent at USD 7.50 and HDFC Bank declined 2.47 percent at USD 59.18.
In the other sectors,
Tata Motors rose 3.29 percent at USD 35.52 and Dr Reddy’s Laboratories added 0.35 percent at USD 45.44.

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