Markets witness volatile trading session ahead of Union Budget

               Markets witnessed extreme volatility in today’s trade. Bank Nifty was the clear outperformer witnessing a smart recovery in the last hour of trade. Kotak Mahindra Bank and HDFC Bank were the major contributors ending 1.93% and 0.43% higher, respectively. MidCap stocks continued to witness selling pressure ending lower for the 5th consecutive session.

Nifty Index February futures witnessed a reduction in open interest to the tune of ~1.58 lakh shares, while Nifty Bank futures witnessed a fresh surge in open interest to the tune of 49,000 shares mainly long positions.

Tracking the Nifty options, heavy option writing was witnessed in out of the money strikes with Nifty 11400CE and 11500CE adding ~10 lakh shares and ~11 lakh shares, respectively, while 10700PE and 10500PE also witnessed a surge in open interest to the tune of ~ 4.3 lakh shares and 4.21 lakh shares, respectively consisting mainly short positions as traders looked to benefit from a drop in implied volatility after the announcement of Union Budget.

  India VIX ended the session at 15.93%, down 2.98%

Nifty:	-21 points @ 11027
Bank Nifty:	+110 points @ 27379
Top 2 F&O Gainer:	KAVERI SEED, TV18 BROADCAST
Top 2 F&O Loser:	PC JEWELLER, KAJARIA CERAMICS
Most Active Index Option Contract:
Call Option:	11500CE, O.I: +~11  lakh shares
Put Option:	10550PE, O.I: + ~4.39 lakh shares
Nifty Max O.I Strikes:	11500CE, 10500PE
Bank Nifty Max O.I Strikes:	28000CE, 26500PE (1TH Feb 2018 Expiry)

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Nifty50 hits record high; Infosys, HDFC stock gain

The Nifty50 index rose to its lifetime high led by gains in shares of information technology and pharmaceutical companies.

At 1:37 PM, the BSE Sensex was trading at 34,534, up 102 points, while the broader Nifty50 was ruling at 10,658, up 29 points.

Shares of TCS gained over 2% ahead of the announcement of Oct-Dec earnings. The Nifty IT index was up 1%.

Shares of Sun Pharmaceutical Industries, which gained after Netherlands' drug regulator cleared the company's Halol unit.

Shares of Cochin Shipyard extended early session gains and rose nearly 7% after the government said the company will undertake ship repairing operations at the dry dock facility of the Mumbai Port Trust on lease basis.

The BSE Mid-cap and BSE Small-cap indices were up 0.31% and 0.76%, respectively.

Volatility index India VIX slipped 0.30%.

Infosys (+2.3%), Indiabulls HF (+2.2%), Tech Mahindra (+2%), Bharti Airtel (+1.6%) and Kotak Mahindra Bank (+1.5%) were the top gainers on Nifty50.

Infratel (-1.5%), Cipla (-1.2%), Bajaj Fin (-1.2%), Ambuja (-0.98%) and ICICI Bank (-0.95%) were the top losers in today’s trade.

Out of 2,008 stocks traded on the NSE, 1,046 advanced, 646 declined and 316 remained unchanged today.

A total of 129 stocks registered a fresh 52-week high in trade today, while eight stocks touched a new 52-week low on the NSE.

 

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Nifty holds 10,600 mark ahead of TCS Q3 numbers

The Sensex and Nifty were trading on a flat note, while the Nifty50 edged down and ahead of TCS numbers.

At 12:12 PM, the BSE Sensex was trading at 34,467, up 36 points, while the broader Nifty50 was ruling at 10,636, up 3 points.

Shares of Tata Consultancy Services traded 0.84% lower ahead of the company's Oct-Dec earnings.

India Nippon Electricals surged 10% on BSE after the company said that its board will consider stock split and interim dividend.

Som Distilleries & Breweries hit a 52-week high after Porinju Veliyath along with Equity Intelligence India bought more than 2% stake in the company through the open market.

The BSE Mid-cap and BSE Small-cap indices were up 0.43% and 0.80%, respectively.

Volatility index India VIX gained 0.83%.

Indiabulls HF (+2.4%), Sun Pharma (+1.8%), Kotak Mahindra Bank (+1.5%), Bharti Airtel (+1.3%) and Tech Mahindra (+1 %) were the top gainers on Nifty50.

Axis Bank (-1.4%), Wipro (-1.4%), Cipla (-1.3%), Coal India (-1.2%) and Ambuja (-1%) were the top losers in today’s trade.

Out of 2,006 stocks traded on the NSE, 1,048 advanced, 613 declined and 345 remained unchanged today.

A total of 107 stocks registered a fresh 52-week high in trade today, while five stocks touched a new 52-week low on the NSE.

 

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Banking stocks drags the indices lower

Markets witnessed marginal selling pressure as banking stocks dragged the indices lower. Nifty IT index shimmered with TCS, Wipro and HCL Tech gaining 3.5%, 3% and 2.5% each.

PSU Banks were among the laggards with SBI and BOB losing ~1% each.

Benchmark indices snapped its 6-day winning streak as market breadth ended in favour of declines with Advance Decline ratio closing at 2:3x.

Nifty Index futures and added fresh open interest to the tune of ~12.5 lakh. Nifty Bank futures saw an unwinding in open interest to the tune of ~88k shares, marginally hinting an unwinding of long positions.

Tracking the Nifty options, 10500PE has ~76 lakh shares in total open interest, consisting of mainly short position, indicating a formation of a fresh floor price for the index in January F&O expiry.

Across the board, selling was witnessed in out of money call option strikes with 10700CE adding the most open interest build-up.

India Vix ended the day at 14.03 up 1.3%.

Nifty:	-5  points @ 10632
Bank Nifty:	-87 points @ 25617
Top 2 F&O Gainer:	JINDALSTEEL & ICIL
Top 2 F&O Loser:	PAGE & MUTHOOTFIN
Most Active Index Option Contract:
Call Option:	10700CE, O.I: + ~7  lakh shares
Put Option:	10500PE, O.I: + ~ 6.7 lakh shares
Nifty Max O.I Strikes:	11000CE, 10500PE
Bank Nifty Max O.I Strikes:	26000CE, 25000PE (11TH Jan 2018 Expiry)

 

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Direct tax collections up 18.2% in April-Dec

The provisional figures of Direct Tax collections up to December 2017 show that net collections are at Rs6.56 lakh cr, which is 18.2% higher than the net collections for the corresponding period of last year.

The net Direct Tax collections represent 67% of the total Budget Estimates of Direct Taxes for FY2017-18 (Rs9.8 lakh cr). Gross collections (before adjusting for refunds) have increased by 12.6% to Rs7.68 lakh cr during April to December, 2017. Refunds amounting to Rs1.12 lakh cr have been issued during April to December, 2017.

An amount of Rs3.18 lakh cr has been received as Advance Tax up to December, 2017 reflecting a growth of 12.7% over the Advance Tax payments of the corresponding period of last year. The growth in Corporate Income Tax (CIT) Advance Tax is 10.9% and that in Personal Income Tax (PIT) Advance Tax is 21.6%.  

 

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Sensex, Nifty trade higher; Jaiprakash Associates, RCom slip

After a positive start, key benchmark indices traded with gains in the morning trade. Today's gains were led by realty, metal, PSU Bank and FMCG.

At 12:05 PM, the BSE Sensex was trading at 34,418, up 65 points, while the broader Nifty50 was ruling at 10,628, up 4 points.

Among BSE sectoral indices, realty index gained the most by 1.67%, followed by PSU Bank 0.56%, consumer durables 0.53% and metal 0.48%. On the other hand, IT Index was down 0.2%, Teck 0.15%, healthcare 0.08% and capital goods 0.01%.

Auto stocks nudged higher. Ashok Leyland (+2.1%), Escorts (+1.8%), TVS Motor Company (+1.47%), Mahindra & Mahindra (+0.26%), Maruti Suzuki India (+0.06%) and Hero MotoCorp (+ 0.03%) edged higher.

Coal India soared over 6% after its board approved a hike in the prices of non-coking coal for power and non-power sectors with immediate effect.

Tata Motors was up 1.8% after the company's subsidiary JLR, reported a 0.6% growth in retail sales to 55,697 vehicles in December 2017 over December 2016.

Sutlej Textiles & Industries surged 5% after the company said its board approved the setting up of a green fibre project to manufacture polyester staple fibre by recycling of pet bottles at Samba, Jammu and Kashmir.

Aarti Drugs jumped 5% after the company fixed January 19, 2018 as record date for buyback of upto 2.75 lakh shares, representing up to 1.15% stake, at Rs875 per share.

The BSE Mid-cap and BSE Small-cap indices were up 0.37% and 0.11%, respectively.

Volatility index India VIX gained 1.49%.

Coal India (+6.1%), Tata Motors (+1.9%), Reliance Ind (+1.4%), ITC (+1.3%) and Yes Bank (+1.2%) were the top gainers on Nifty50.

Zee (-1.6%), Eicher (-1.5%), HCL Tech (-1.4%), Hindalco (-1.3%) and HPCL (-1.2%) were the top losers in today’s trade.

Out of 2,005 stocks traded on the NSE, 866 advanced, 786 declined and 353 remained unchanged today.

A total of 129 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.

 

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Sensex rallies over 150 points; Realty Metal Index gain

Indian equity indices jump-started today's session and were close to their lifetime highs, with shares of state-owned banks and metal companies leading the gains seen across most sectors, supported by an upbeat trend in most global markets.

At 11:10 AM, the BSE Sensex was trading at 34,134, up 165 points, while the broader Nifty50 was ruling at 10,546, up 42 points.

The Nifty PSU Bank Index extended gains and rose over 1% in early trade as the Lok Sabha, late Thursday, passed the third batch of Supplementary Demands for Grants, which will enable the government to issue bonds worth Rs800bn to recapitalize the lenders in the current financial year.

IOB stock gained 7% as the bank decided to utilize share premium balance to write off the accumulated losses.

Bharat Forge shares gained 2% after strong Class 8 truck orders in the US. North America Class 8 truck orders shot up 77% yoy to 37,200 units in December against 21,061 units.

The Nifty Metal Index inched higher, led by over 1% gain in shares of Hindalco Industries and Vedanta, tracking the overnight rise in global base metal prices.

Shares of Varun Beverages gained 9% today after the company entered into a partnership with PepsiCo India to sell the latter's Tropicana juices, Gatorade and Quaker dairy products in north and east India.

Barring the Nifty IT Index, which was down 0.3%, all other sectoral and thematic indices were in the green early today. Technology stocks were subdued due to persistent strength in the rupee against the dollar.

The BSE Mid-cap and BSE Small-cap indices were up 0.63% and 0.87%, respectively.

Volatility index India VIX slipped 2.29%.

Yes Bank (+2.7), Adani Ports (+2.2%), Vedanta (+1.7%), Tata Steel (+1.6%) and Eicher (+1.4%) were the top gainers on Nifty50.

HPCL (-0.78%), HCL Tech (+0.57%), IOC (-0.43%), ONGC (-0.35%) and GAIL (-0.35%) were the top losers in today’s trade.

Out of 1,993 stocks traded on the NSE, 1,162 advanced, 432 declined and 399 remained unchanged today.

A total of 113 stocks registered a fresh 52-week high in trade today, while one stocks touched a new 52-week low on the NSE.

 

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