A bout of volatility was witnessed as key benchmark indices wiped off major gains after hitting fresh intraday high in mid-morning trade. At 11:19 IST, the barometer index, the S&P BSE Sensex, was currently up 28.90 points or 0.11% at 26,672.14. The Nifty 50 index was currently up 9.80 points or 0.12% at 8,202.05.
The Sensex rose 80.13 points, or 0.30% at the day's high of 26,723.37 in mid-morning trade. The index fell 10.29 points, or 0.04% at the day's low of 26,632.95 in morning trade. The Nifty rose 26.25 points, or 0.32% at the day's high of 8,218.50 in mid-morning trade. The index fell 1.40 points, or 0.02% at the day's low of 8,190.85 in morning trade.
Among secondary barometers, the BSE Mid-Cap index was currently up 0.56%. The BSE Small-Cap index was currently up 0.73%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,624 shares rose and 704 shares fell. A total of 96 shares were unchanged.
FMCG shares were mixed. Godrej Consumer Products (down 1.1%), Dabur India (down 0.64%), Procter & Gamble Hygiene & Health Care (down 0.6%), Nestle India (down 0.4%), GlaxoSmithKline Consumer Healthcare (down 0.26%), Marico (down 0.1%) and Jyothy Laboratories (down 0.01%), edged lower. Britannia Industries (up 0.12%), Colgate Palmolive (India) (up 0.32%), Hindustan Unilever (up 0.37%), Bajaj Corp (up 0.90%) and Tata Global Beverages (up 0.93%), edged higher.
Pharmaceutical shares were mixed. IPCA Laboratories (up 2.59%), Glenmark Pharmaceuticals (up 1.67%), Cadila Healthcare (up 1.36%), Strides Shasun (up 0.83%), Piramal Enterprises (up 0.79%), Sun Pharmaceutical Industries (up 0.59%), Alkem Laboratories (up 0.44%) and Dr Reddy's Laboratories (up 0.38%), edged higher. GlaxoSmithKline Pharmaceuticals (down 0.15%), Aurobindo Pharma (down 0.16%), Lupin (down 0.24%), Cipla (down 0.65%), Wockhardt (down 0.91%) and Divi's Laboratories (down 1.07%), edged lower.
Ramco Systems jumped 6.37% after the company announced that its Malaysian unit signed multi-million dollar cloud HR & payroll transformation deal with Panasonic Group of companies. The announcement was made during market hours today, 4 January 2017.
Overseas, most stocks in Asia rose after data fueled confidence in the US economy, and as equity traders in Tokyo returned from holidays with the yen nursing a three-day slump. Japan's Nikkei 225 was up 2.37%. Hong Kong's Hang Seng was down 0.09%. Indonesia's Jakarta Composite Index was down 0.2%.
US stocks on Tuesday, 3 January 2017, started the first trading day of 2017 on a positive note but closed off of intraday highs as oil prices turned sharply lower, puncturing some of the initial exuberance that underpinned an early rally in the Dow Jones Industrial Average.
US manufacturing posted the fourth straight month of faster expansion in December 2016 as new orders and output jumped, pointing to a growing economy, the Institute for Supply Management said yesterday, 3 January 2017. The ISM manufacturing index rose 1.5 points from November to 54.7%, with 11 of the 18 industries surveyed reporting growth. A reading in the purchasing managers index above 50 indicates growth.
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