Markets remain rangebound; HDFC, SBI shares advance

21/12/2016 10:14

The key domestic benchmark indices were trading in a positive terrain as rangeboud trade was witnessed in the morning trading session tracking firm cues from fellow Asian markets, but market volume remained thin as traders began to quiet down in the lead-up to Christmas.

Shares of Bharti Airtel will remain in focus after the telecom major said that its subsidiary Network i2i has inked pact with Egyptian firm Orascom to acquire the latter’s entire equity stake in Middle East North Africa Submarine Cable Systems (MENA-SCS).

At 10:10 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 26334.18 up by 26.2 points or by 0.1 per cent, while the NSE Nifty was at 8090.3 points, trading higher by 7.9 points or by 0.1 per cent.

The BSE Sensex touched an intraday high of 26394.14 and an intraday low of 26296.26 while the NSE Nifty touched an intraday high of 8112.55 and an intraday low of 8075.85.

The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1250.95,+1.04 per cent), State Bank of India (Rs. 256.40,+0.73 per cent), Asian Paints Ltd. (Rs. 875.00,+0.73 per cent), ICICI Bank Ltd. (Rs. 253.20,+0.64 per cent), NTPC Ltd. (Rs. 162.80,+0.62 per cent), among others.

Meanwhile, Tata Consultancy Services Ltd. (Rs. 2318.00,-0.84 per cent), Tata Motors Ltd. (Rs. 469.70,-0.66 per cent), GAIL (India) Ltd. (Rs. 425.90,-0.64 per cent), Dr. Reddy’s Laboratories Ltd. (Rs. 3030.05,-0.53 per cent), Hero MotoCorp Ltd. (Rs. 3040.95,-0.53 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1918 shares traded, 1095 shares advanced, 720 shares declined while 103 were unchanged.

On the global front, Asian stocks were trading higher today following the record gains overnight on Wall Street as investors shrugged off geopolitical tensions mounting amidst terrorist attack on a Berlin Christmas market and the killing of the Russian ambassador toTurkey. US stocks closed higher in the previous trading session as investors continued to hope that the newly elected US President-elect Donald Trump would announce fiscal boost which will support riskier assets.


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