Trading for the calendar year 2015 closed on a positive note as key benchmark indices settled with decent gains amid intraday volatility. The barometer index, the S&P BSE Sensex rose 142.52 points or 0.55% at 26,102.55, as per the provisional closing data. The 50-unit Nifty 50 index gained 47.65 points or 0.6% at 7,943.90, as per the provisional closing data. The Sensex and the Nifty, both, hit more than four-week high in late trade. The Sensex provisionally closed above the psychological 26,000 mark. The index had alternately moved above and below that psychological level in intraday trade.
After moving in a small range near the flat line, key indices witnessed a spurt during a later part of the session. The Sensex hit more than four-week high when it rose 187.60 points or 0.72% at the day's high of 26,147.63 in late trade. The index lost 18.12 points or 0.06% at the day's low of 25,941.91 in early trade. The Nifty also hit more than four-week high when it rose 59.30 points or 0.75% at the day's high of 7,955.55 in late trade. The Nifty dropped 5.10 points or 0.06% at the day's low of 7,891.15 in early trade.
The market witnessed volatility as traders rolled over positions in the futures & options (F&O) segment from the near month December 2015 series to January 2016 series. The near month December 2015 derivatives contracts expired today, 31 December 2015.
In overseas markets, European stocks edged lower. Asian stocks were mixed. US stocks ended lower yesterday, 30 December 2015, as a drop in oil resumed, dragging down energy company shares.
Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,466 shares rose and 1,168 shares fell. A total of 277 shares were unchanged. The BSE Mid-Cap index was provisionally up 0.35%. The BSE Small-Cap index was provisionally up 0.49%. Both these indices underperformed the Sensex.
Bharti Airtel gained 1.14% after the company said that it has acquired remaining balance paid up share capital i.e. 26% of Augere Wireless Broadband India and with the said acquisition, Augere has become a wholly owned subsidiary of the company. The company made the announcement during market hours today, 31 December 2015.
Realty stocks rose. Indiabulls Real Estate (up 2.83%), Godrej Properties (up 0.04%), Housing Development & Infrastructure (HDIL) (up 6.85%), DLF (up 1.76%), Oberoi Realty (up 2.92%) and Phoenix Mills (up 0.18%) edged higher. Sobha (down 1.2%) and Unitech (down 1.34%) edged lower.
IT stocks also rose. HCL Technologies (up 2.13%), Infosys (up 1.83%), TCS (up 0.73%) and Wipro (up 0.95%) edged higher. Tech Mahindra declined 0.25%.
Petronet LNG rose 2.99% after the company announced that it has entered into a binding sale and purchase agreement (SPA) with RasGas of Qatar for supply of an additional 1 million tonne a year (MTA) of LNG to India starting in 2016 for onward sale to Indian Oil Corporation, BPCL, GAIL (India) and Gujarat State Petroleum Corporation. The announcement was made during trading hours today, 31 December 2015.
Further, RasGas and Petronet LNG have entered into a binding agreement to adjust some aspects of their existing long term LNG SPA of 7.5 MTA, signed by the parties in 1999, which laid the foundation for the LNG business in India. Such adjustments will protect and preserve the overall value of the contract.
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