 "Sensex ends 260 points higher")
Benchmark share indices ended at three-week closing highs on Wednesday, amid strong global cues, led by oil & gas and metal shares. Renewed buying interest by foreign funds also boosted investor sentiment.
Stock exchanges will remain closed on Friday on account of Christmas Day holiday. Further, the winter session of the parliament ends today.
The S&P BSE Sensex ended up 260 points at 25,850 and the NIfty50 closed 80 points up at 7,866. on December 3, 2015, the S&P BSE Sensex had ended at 25,887 and the Nifty50 had ended at 7,864.
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Benchmark share indices extending gains and were trading near their day's high in late noon trades, amid strong global cues, with metal shares leading the gains.
However, trading volumes were low as traders turned cautious in a truncated week with stock exchanges closed on Friday on account of Christmas Day. Further, the winter session of the parliament ends today.
At 2:30pm, the S&P BSE Sensex was up 260 points at 25,851 after hitting an intra-day high of 25,875 and the NIfty50 was up 79 points at 7,865 after touching an intra-day high of 7,871.
In the broader market, the BSE Midcap and Smallcap indices were up 0.3%-0.6% each. Market breadth remained positive with 1,598 gainers and 962 losers on the BSE.
India's current account deficit (CAD) narrowed to $8.2 billion (1.6% of gross domestic product) in the September 2015 quarter from $10.9 billion (2.2% of GDP) in the year-ago quarter.
GLOBAL MARKETS
Most Asian markets were trading higher on Wednesday tracking overnight gains on Wall Street and stability in global crude oil prices. However, market participation was lacklustre on account of the Christmas holidays during the weekend.Japanese markets were closed for trading today. Shanghai COmposite ended down 0.40% while Hang Seng gained nearly 1% and Straits Times gained 0.4%
European shares surged on Wednesday led by mining stocks tracking gains in copper prices. Major stock indices were up over 1% each with FTSE-100 up 1.3%, CAC-40 rose 1.3% and DAX gained 1.5%.
NEW LISTINGS
Dr Lal PathLabs listed at Rs 720, a 31% premium to its issue price of Rs 550 per share on the National Stock Exchange (NSE). The stock was up 17% at Rs 838 after hitting a high of Rs 842.
Alkem Laboratories made its debut at Rs 1,380, a 31% premium against its issue price of Rs 1,050 per share, on the National Stock Exchange (NSE). The stock was up 1% at Rs 1,394 after hitting a high of Rs 1,410.
STOCKS IN FOCUS
All sectoral indices on the BSE were trading positive led by BSE Metal index up 1.8% followed by Healthcare, Power and Realty indices among others.
Oil and gas shares gained after global crude oil stabilised after they hit 11-year lows early this week. Index heavyweight Reliance Industries was up 1.7% contributing the most to the Sensex gains.
ONGC rose 2.2% after the Cabinet Committee on Economic Affairs (CCEA) yesterday, 22 December 2015, has given its approval for investment of Rs 5000 crore by ONGC into the equity share capital of ONGC Videsh (OVL) by conversion of existing loan of equivalent amount into equity.
GAIL was the top Sensex gainer up 5%. GAIL India has extended last date of bidding for its $7 billion tender for hiring nine newly built ships for ferrying LNG from the US by over two months to allow Indian shipyards to tie up technology for building the specialised vessels.
Hindalco emerged as the top Sensex gainer up over 5% tracking firm global copper prices. Among mining stocks, Vedanta was up 3.8%.
Tata Steel was up 3% after its overseas subsidiary Tata Steel UK has signed a letter of intent with Greybull Capital, an investment company, to enter exclusive negotiations for a potential sale of its long products Europe business.
IT majors which had weakened in the previous on account of sharp hike in US visa fees gained in today's session. Infosys and TCS were up 0.6%-1.3% each. However, Wipro was trading flat with positive bias.
Sun Pharma extended gains and was up 3% on short-covering. The stock had witnessed sharp decline on Monday rebounded today domestic brokerage Kotak said that the warning letter from the USFDA did not indicate any major data integrity issues.
Capital goods shares witnessed renewed buying interest. L&T was up 1.3% while PSU engineering major BHEL gained nearly 4%.
Other Sensex gainers include, HDFC, ICICI Bank and HDFC Bank which were up 0.7%-1.1% each.
Among others, shares of Suven Life Sciences were up over 4% at Rs 267 after the company said it has received seven product patents for their new chemical entities in several countries.
Stock exchanges will remain closed on Friday on account of Christmas Day holiday. Further, the winter session of the parliament ends today.
The S&P BSE Sensex ended up 260 points at 25,850 and the NIfty50 closed 80 points up at 7,866. on December 3, 2015, the S&P BSE Sensex had ended at 25,887 and the Nifty50 had ended at 7,864.
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(Updated at 2:30pm)
Benchmark share indices extending gains and were trading near their day's high in late noon trades, amid strong global cues, with metal shares leading the gains.
However, trading volumes were low as traders turned cautious in a truncated week with stock exchanges closed on Friday on account of Christmas Day. Further, the winter session of the parliament ends today.
At 2:30pm, the S&P BSE Sensex was up 260 points at 25,851 after hitting an intra-day high of 25,875 and the NIfty50 was up 79 points at 7,865 after touching an intra-day high of 7,871.
In the broader market, the BSE Midcap and Smallcap indices were up 0.3%-0.6% each. Market breadth remained positive with 1,598 gainers and 962 losers on the BSE.
India's current account deficit (CAD) narrowed to $8.2 billion (1.6% of gross domestic product) in the September 2015 quarter from $10.9 billion (2.2% of GDP) in the year-ago quarter.
GLOBAL MARKETS
Most Asian markets were trading higher on Wednesday tracking overnight gains on Wall Street and stability in global crude oil prices. However, market participation was lacklustre on account of the Christmas holidays during the weekend.Japanese markets were closed for trading today. Shanghai COmposite ended down 0.40% while Hang Seng gained nearly 1% and Straits Times gained 0.4%
European shares surged on Wednesday led by mining stocks tracking gains in copper prices. Major stock indices were up over 1% each with FTSE-100 up 1.3%, CAC-40 rose 1.3% and DAX gained 1.5%.
NEW LISTINGS
Dr Lal PathLabs listed at Rs 720, a 31% premium to its issue price of Rs 550 per share on the National Stock Exchange (NSE). The stock was up 17% at Rs 838 after hitting a high of Rs 842.
Alkem Laboratories made its debut at Rs 1,380, a 31% premium against its issue price of Rs 1,050 per share, on the National Stock Exchange (NSE). The stock was up 1% at Rs 1,394 after hitting a high of Rs 1,410.
STOCKS IN FOCUS
All sectoral indices on the BSE were trading positive led by BSE Metal index up 1.8% followed by Healthcare, Power and Realty indices among others.
Oil and gas shares gained after global crude oil stabilised after they hit 11-year lows early this week. Index heavyweight Reliance Industries was up 1.7% contributing the most to the Sensex gains.
ONGC rose 2.2% after the Cabinet Committee on Economic Affairs (CCEA) yesterday, 22 December 2015, has given its approval for investment of Rs 5000 crore by ONGC into the equity share capital of ONGC Videsh (OVL) by conversion of existing loan of equivalent amount into equity.
GAIL was the top Sensex gainer up 5%. GAIL India has extended last date of bidding for its $7 billion tender for hiring nine newly built ships for ferrying LNG from the US by over two months to allow Indian shipyards to tie up technology for building the specialised vessels.
Hindalco emerged as the top Sensex gainer up over 5% tracking firm global copper prices. Among mining stocks, Vedanta was up 3.8%.
Tata Steel was up 3% after its overseas subsidiary Tata Steel UK has signed a letter of intent with Greybull Capital, an investment company, to enter exclusive negotiations for a potential sale of its long products Europe business.
IT majors which had weakened in the previous on account of sharp hike in US visa fees gained in today's session. Infosys and TCS were up 0.6%-1.3% each. However, Wipro was trading flat with positive bias.
Sun Pharma extended gains and was up 3% on short-covering. The stock had witnessed sharp decline on Monday rebounded today domestic brokerage Kotak said that the warning letter from the USFDA did not indicate any major data integrity issues.
Capital goods shares witnessed renewed buying interest. L&T was up 1.3% while PSU engineering major BHEL gained nearly 4%.
Other Sensex gainers include, HDFC, ICICI Bank and HDFC Bank which were up 0.7%-1.1% each.
Among others, shares of Suven Life Sciences were up over 4% at Rs 267 after the company said it has received seven product patents for their new chemical entities in several countries.