Key benchmark hovered between gains and losses near the flat line in early afternoon trade. At 12:24 IST, the barometer index, the S&P BSE Sensex, was down 12 points or 0.05% at 26,105.54. The 50-unit Nifty 50 index was down 6.30 points or 0.08% at 7,940.05.
However, the broad market depicted strength. There were more than two gainers against every loser on BSE. 1,810 shares rose and 662 shares fell. A total of 111 shares were unchanged. The BSE Mid-Cap index was currently up 0.63%. The BSE Small-Cap index was currently up 0.71%. Both these indices outperformed the Sensex.
Andhra Bank rose 0.92% after Citygroup Global Markets Mauritius purchased 33.12 lakh shares of the bank at Rs 64.62 per share in a bulk deal on the NSE yesterday, 31 December 2015.
Realty stocks rose. Sobha (up 1.06%), Indiabulls Real Estate (up 1.8%), DLF (up 2.76%), Unitech (up 0.75%), Housing Development & Infrastructure (HDIL) (up 1.22%), Oberoi Realty (up 1.68%), and Phoenix Mills (up 1.37%) edged higher. Godrej Properties fell 0.47%.
Auto stocks gained. Mahindra & Mahindra (M&M) (up 0.01%), Ashok Leyland (up 1.02%), Eicher Motors (up 1.16%), and Tata Motors (up 1.81%) gained.
Maruti Suzuki India rose 0.69% after the company said that the total sales rose 8.5% to 1.19 lakh units in December 2015 over December 2014. Domestic sales rose 13.5% to 1.11 lakh units in December 2015 over December 2014. Exports fell 33.1% to 7,816 units in December 2015 over December 2014. The company made the announcement during market hours today, 1 January 2016.
Shares of two wheeler makers declined. Bajaj Auto (down 0.57%), Hero MotoCorp (down 0.27%), and TVS Motor Company (down 0.52%) declined.
PSU OMCs cut petrol price by 63 paise a litre and diesel price by Rs 1.06 a litre in Delhi (including state levies), with corresponding price revision in other states, the third reduction this month on the back of softening in global oil rates. The revised prices take effect from today, 1 January 2016.
Among macro data, the combined index of eight core industries comprising nearly 38% of the weight of items included in the index of industrial production (IIP) fell 1.3% in November 2015 over November 2014. The data was announced after market hours yesterday, 31 December 2015.
In overseas markets, Asian stocks were mixed amid many markets remaining close for New Year holiday. US stocks closed lower yesterday, 31 December 2015, with trading seen lighter than usual ahead of the New Year's Day holiday.
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