Markets maintain uptrend as realty, metal index rise

The BSE Midcap and BSE Smallcap indices registered an uptick of 0.3%, and 0.6%, respectively.

Benchmark indices extended gains led by realty, metals, banking and finance sectoral indices. Gains capped by losses in IT index after Infosys cut its revenue outlook and investors remained cautious after Trump administration hinted on stricter H1B visa rules.
 
All eyes will be on US President-elect Donald Trump's inauguration on Friday for any clarity on his economic plans.
 
Back home, WPI inflation rose 3.39% year-on-year in December, its fastest pace in two months accelerating from 3.15% in November. GST Council will also meet today try to find the resolution to issue of administrative turf between the Centre and states, as well as definition of coastal states.

 

At 2:27 pm, the S&P BSE Sensex was trading at 27,321, up 83 points, while the broader Nifty50 was ruling at 8,423, up 23 points.
 
In the broader market, the BSE Midcap and BSE Smallcap indices registered an uptick of 0.25%, and 0.6%, respectively.
 
About 1,457 shares have advanced, 1,020 shares declined, and 143 shares are unchanged.
 
Tata Steel, Adani Ports, Tata Motors, SBI and Power Grid were the top gainers while Reliance, Infosys, ONGC, GAIL and ITC were the biggest laggards in the Sensex.
 
Infosys fell over 1% after the software exporter pared full-year revenue growth outlook, as it fights uncertainties in its biggest markets that could curb client spending on technology.

 
The IT index was down as much as 0.5% on Sensex, with losses led by Persistent systems (down 1.98%), HCL Technologies (down 1.52%), and Infosys (down 1.14%).
 
BSE Realty gained over 2% in an otherwise tange-bound market on back of heavy volumes. DLF, Housing Development and Infrastructure (HDIL), Unitech, Indiabulls Real Estate and Sobha were up between 2% to 4.5%.
 
Among gainers, SBI, Axis Bank, ICICI Bank and HDFC Bank rose 0.9%-1.3%. The BSE Bankex outperformed headline indices gaining 0.5%.
 
Shares of oil marketing companies (OMCs) were trading higher by up to 2% at intraday on the BSE after these companies raised petrol and diesel prices with effect from midnight of Sunday, January 15th 2017.

 
Among individual stocks, Jubilant Industries reached its record high of Rs 378, up 12% on the BSE on back of heavy volumes.
 
SPML Infra soared 20% at Rs 66.95 on the BSE in intra-day trade after the company announced that it has secured new orders approximately of Rs 800 crore for power substation, rooftop solar power plant, water & wastewater treatment and municipal solid waste management projects from different states of India.
 
In Asia, regional share markets were hesitant, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.5%, while Japan's Nikkei was 0.6 % lower and Shanghai shed 1.4%.