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As on Feb 23, 2017 12:00 AM Your results on : Quick Review    
Market registers small gains in volatile trade
23-Feb-2017 (15:41)

Key benchmark indices logged small gains in what was a highly volatile last trading day of the week. The barometer index, the S&P BSE Sensex, gained 28.26 points or 0.1% at 28,892.97, as per the provisional closing data. The Nifty 50 index rose 12.60 points or 0.14% to 8,939.50, as per the provisional closing data. The Sensex provisionally settled below the psychological 29,000 level, after surging past that level in intraday trade. Indian stock markets remains shut tomorrow, 24 February 2017 on account of Mahashivratri.

The Sensex gained 160.97 points or 0.56% at the day's high of 29,065.31 in mid-afternoon trade, its highest level since 8 September 2016. The index shed 4.25 points or 0.1% at the day's low of 28,860.46 in late trade. The Nifty gained 55.25 points or 0.62% at the day's high of 8,982.15 in mid-afternoon trade, its highest level since 4 March 2015. The index rose 0.65 points or 0.01% at the day's low of 8,927.55 in late trade.

Intraday volatility was high. After opening with a positive bias, key benchmark indices continued to extend intraday gains till mid-afternoon trade. Domestic stocks trimmed gains in late trade on profit booking.

The BSE Mid-Cap index was provisionally up 0.19%. The BSE Small-Cap index was provisionally up 0.11%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, turned negative from positive in late trade. On the BSE, 1,523 shares declined and 1,238 shares rose. A total of 203 shares were unchanged.

The total turnover on BSE amounted to Rs 3272.71 crore, lower than the turnover of Rs 3575.62 crore registered during the previous trading session.

Index heavyweight and cigarette major ITC gained 0.83% to Rs 265.70. The stock hit a high of Rs 267.15 and low of Rs 261.65 in intraday trade.

IT stocks reversed yesterday's slide. TCS (up 2.99%), Infosys (up 1.73%), Wipro (up 2.53%), HCL Technologies (up 0.69%), Oracle Financial Services Software (up 1.4%), MindTree (up 0.36%), Hexaware Technologies (up 0.57%) and MphasiS (up 1.41%) rose. Tech Mahindra (down 0.84%) fell.

Tata Motors rose 0.4% after the company said its board will meet on 2 March 2017 to consider raising Rs 500 crore through private placement of non-convertible debentures. The announcement was made during trading hours today, 23 February 2017.

Tata Motors said it is desirous of offering the sixth series of its rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 500 crore. In this regard, the company will hold a meeting of its duly constituted committee of the board on 2 March 2017. The above issuance is pursuant to the approval of the shareholders passed vide special resolution at the 71th annual general meeting of the company held on 9 August 2016 and the board of directors' resolution passed at its meeting held on 14 February 2017.

Meanwhile, International Monetary Fund (IMF) said yesterday, 22 February 2017 that India's overall outlook remains positive, although growth will slow temporarily as a result of disruptions to consumption and business activity from the recent withdrawal of high-denomination banknotes from circulation. But the nation's expansion will pick up again as economic reforms kick in, said the IMF in its latest assessment. IMF reduced is growth forecasts to 6.6% for fiscal year 2016-17 and to 7.2% in 2017-18.

Challenges remain, however, and there is little scope for complacency. A key concern is the health of the banking system, which is still dealing with a large amount of bad loans, and also heightened corporate vulnerabilities in several key sectors of the economy, IMF said.

Overseas, European shares rose as stocks of companies like Barclays and RSA rose following their positive updates offsetting some weaker firms including Technicolor and Veolia.

Asian stocks were trading mixed as investors digested the minutes of the Federal Reserve's January policy meeting. US equities closed mixed yesterday, 22 February 2017 after minutes from the Federal Reserve's previous meeting hinted that a rate hike coming fairly soon. Wall Street was eagerly awaiting the release of these minutes, as they looked for more clues about when and how many times the Fed would raise rates this year.

Market gains for fifth day in a row
22-Feb-2017 (15:34)
Market logs modest gains
21-Feb-2017 (15:47)
Market advances on upbeat global cues
20-Feb-2017 (15:38)
Market provisionally settles with modest gains
17-Feb-2017 (15:31)
IT, realty stocks lead gains on bourses
16-Feb-2017 (15:30)
Market declines on capital outflows worries
15-Feb-2017 (15:29)
Market provisionally settles with small losses
14-Feb-2017 (15:30)
Indices provisionally settle with tiny gains
13-Feb-2017 (15:30)
Indices provisionally settle with tiny gains after lacklustre trade
10-Feb-2017 (15:30)
Market provisionally settles with small gains
09-Feb-2017 (15:29)
Sensex settles with small losses after RBI keeps rates unchanged
08-Feb-2017 (15:33)
Stocks snap four-day winning streak
07-Feb-2017 (15:29)
Market gains for fourth day in a row
06-Feb-2017 (15:29)
Market ends volatile session on flat note
03-Feb-2017 (15:27)
Market ends higher amid volatility
02-Feb-2017 (15:27)
Market spurts as investors cheer Budget 2017
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Market tumbles on negative Asian cues
31-Jan-2017 (15:31)
Volatile trading session ends with loss
30-Jan-2017 (15:32)
Market logs modest gains
27-Jan-2017 (15:38)
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