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Sensex, Nifty close higher; midcaps underperform

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The large cap index Nifty 50 that saw all sectoral constituents posting gains in trade, advanced 66 points to close at 10,682, while the Sensex gained 197 points to settle at 35,457.

Sensex, Nifty close higher; midcaps underperform
Barring midcap index, the Indian equity market on Friday closed the last trading session of the week higher. The large cap index Nifty 50 that saw all sectoral constituents posting gains in trade, advanced 66 points to close at 10,682, while the Sensex gained 197 points to settle at 35,457. Financials, Oil & Gas, Telecom together contributed 54 points in the Nify’s 66 points gain.
The big move in financials helped the Nifty Bank close with a gain of 91 points at 26,246. Amongst frontliners, the midcap index was the only index to close in the red, falling by 61 points to 17,508. The dip kept market breadth in favour of declines with NSE Advance-Decline ratio at 2:3.
Reliance Industries, that crossed the Tata Consultancy Services’ market cap intra-day, was the top index gainer, followed by financial heavyweights of HDFC and HDFC Bank. Public sector banks, led by the State Bank of India also had a positive day of trade. Other noteworthy gainers were telecom stocks of Vodafone Idea and Bharti Airtel.
Among laggards, Yes Bank extended its decline, slumping 7 percent in trade after reports that OP Bhatt, a member from the lender’s Search & Selection Committee to find a successor to current chief executive officer and managing director Rana Kapoor, had quit.
Oil marketing companies reversed major part of weekly gains as crude oil prices resumed the uptrend on reports of Opec cutting oil output in December. Brent traded above $67 per barrel levels.
Cash-strapped Jet Airways gained 32 percent this week on reports of Tata Group considering acquisition of the Naresh Goyal-led aviation company.
In the futures market, Nifty 10,700 Call option added 1 lakh shares in the open interest with premium moving 18 percent higher and 10,800 Call option adding 3.6 lakh shares in the open interest with premium up 19 percent.
Nifty 10,600 Put option added 3.3 lakh shares in the open interest with its premium slipping 29 percent. Nifty November Futures closed with a premium of 8 points against a premium of 14 points on Thursday.
For the week, Nifty and Sensex gained 1 percent each, while Nifty Bank is up 2 percent. The midcap index declined by 0.5 percent this week.
Asian markets end mixed, Chinese market recovers
On the global front, it was a mixed picture for markets in Asia, on the back of fresh uncertainties emerging from the UK overnight after multiple high-profile resignations from Prime Minister Theresa May’s government.
The mainland Chinese markets, which have been closely watched amid the ongoing trade spat between Washington and Beijing, recovered from earlier losses. The Shanghai composite was up 0.41 percent to close at around 2,679.11 and the Shenzhen composite rose 0.8 percent to finish at about 1,410.18. In Hong Kong, the Hang Seng index was up 0.3 percent.
In Australia, the ASX 200 fell slightly to close at 5,730.6, with the sectors finishing mostly lower.
Stocks in Japan struggled for gains. The Nikkei 225 slipped 0.6 percent to close at 21,680, while the Topix index shed 0.6 percent to end the trading day at 1,629.30.
Shares of semiconductor companies in Japan took a hit on the back of yesterday’s plunge in Nvidia’s stock stateside after it missed both revenue and guidance. Tokyo Electron, which manufactures semiconductor equipment, was down 4.26 percent while manufacturer Advantest fell 7.56 percent.
In South Korea, the Kospi rose 0.2 percent to close at 2,092.4.
 

Market Movers

CompanyPriceChange%Gain
TATA Cons. Prod729.80 10.30 1.43
Nestle17,932.75 247.95 1.40
ONGC126.95 1.60 1.28
ITC208.80 1.75 0.85
TCS3,289.25 26.50 0.81
CompanyPriceChange%Gain
Nestle17,937.40 257.90 1.46
ONGC126.90 1.55 1.24
TCS3,289.30 26.85 0.82
Bajaj Finserv11,895.25 96.20 0.82
ITC208.75 1.65 0.80
CompanyPriceChange%Loss
Adani Ports731.50 -30.35 -3.98
Hindalco380.60 -10.25 -2.62
Tata Steel1,145.60 -28.70 -2.44
Power Grid Corp241.70 -5.90 -2.38
JSW Steel710.20 -14.90 -2.05
CompanyPriceChange%Loss
Power Grid Corp241.60 -5.90 -2.38
IndusInd Bank1,020.00 -13.55 -1.31
Larsen1,491.30 -19.65 -1.30
Reliance2,223.65 -26.05 -1.16
HDFC2,520.00 -24.40 -0.96

Currency

CompanyPriceChng%Chng
Dollar-Rupee73.35250.04000.05
Euro-Rupee88.96000.03000.03
Pound-Rupee103.47700.17800.17
Rupee-100 Yen0.66730.00120.17