After alternately swinging between positive and negative zone, the key benchmark indices once again regained strength in mid-afternoon trade. At 14:16 IST, the barometer index, the S&P BSE Sensex, was up 37.20 points or 0.14% at 27,071.70. The Nifty 50 index was currently up 21.15 points or 0.25% at 8,370.50. The Sensex was currently trading above the psychologically important 27,000 mark. Earlier, the Sensex had regained that level soon after falling below it in opening trade.
Volatility was witnessed ahead of expiry of near month derivatives contract this week, which is truncated due to a holiday on Thursday, 26 January 2017, on account of Republic Day. After opening in negative zone amid mixed Asian cues, the two key equity benchmarks soon regained positive zone. They once again regained positive terrain after slipping into the red in afternoon trade after hovering in positive terrain for some time.
The breadth indicating the overall health of the market was positive. On BSE, 1,467 shares rose and 1,153 shares fell. A total of 183 shares were unchanged. The BSE Mid-Cap index was currently up 0.31%. The BSE Small-Cap index was currently up 0.35%. Both these indices outperformed the Sensex.
Index heavyweight and housing finance major HDFC advanced 0.95% to Rs 1,248.50. The stock hit high of Rs 1,254.75 and low of Rs 1,236.80 so far during the day.
Most private bank stocks rose. IndusInd Bank (up 0.27%), Yes Bank (up 1.25%), HDFC Bank (up 0.35%) and Kotak Mahindra Bank (up 0.71%) rose. ICICI Bank (down 2.43%), Axis Bank (down 1.52%) fell.
RBL Bank jumped 4.81% after net profit rose 58.78% to Rs 128.69 crore on 38.98% growth in total income to Rs 1143.48 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours on Friday, 20 January 2017.
PSU bank stocks rose. Indian Bank (up 1.66%), Punjab National Bank (up 1.02%), Bank of Baroda (up 0.03%), Canara Bank (up 0.43%), IDBI Bank (up 2.02%), Bank of India (up 1.11%) and Union Bank of India (up 1.62%) rose.
State Bank of India (SBI) rose 1.27% after the bank announced that the committee of directors for capital raising considered and accorded approval to allot 21.07 crore equity shares on preferential basis to Government of India, at an issue price of Rs 269.59 per share. The announcement was made after market hours on Friday, 20 January 2017.
Auto stocks saw mixed trend. Maruti Suzuki India (down 0.07%), Bajaj Auto (down 0.06%), Mahindra & Mahindra (M&M) (down 0.81%), Eicher Motors (down 0.7%) and Ashok Leyland (down 0.06%) declined.
Tata Motors (up 1.19%), Hero MotoCorp (up 0.46%) and TVS Motor Company (up 0.29%) rose.
Force Motors lost 3.84% after net profit fell 14.9% to Rs 23.25 crore on 14.5% decline in net sales to Rs 621.78 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 21 January 2017.
D-Link India jumped 12.63% after net profit rose 30.94% to Rs 9.10 crore on 9.85% rise in net sales to Rs 186.69 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 21 January 2017.
Amara Raja Batteries fell 3.37% after net profit fell 17.91% to Rs 112.32 crore on 9.73% increase in total income to Rs 1515.25 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Sunday, 22 January 2017.
JK Paper advanced 1.89% after net profit jumped 173.1% to Rs 35.89 crore on 6.1% growth in net sales to Rs 633.06 crore in Q3 December 2016 over Q3 December 2015. The result was announced on Saturday, 21 January 2017.
Overseas, European stocks declined due to fall in bank stocks and a profit warning at filter products maker Essentra, while insurer Generali was boosted by takeover talk. Most Asian stocks gained after Donald Trumps inauguration as the 45th US president last weekend. US stocks finished higher on Friday, 20 January 2017 after Donald Trump took office as US president and pledged to lead an administration that puts America first.
Republican Donald Trump took the oath of office to become the nation's 45th president and delivered an inaugural address that echoed the protectionist comments he had made throughout his campaign. Every decision on trade, on taxes, on immigration, on foreign affairs will be made to benefit American workers and American families, Trump said in the speech.