Monday, 16 January 2017

Nifty hovers around 8400, Midcap outperforms; Reliance, ITC slip

Epic Update Reliance Industries
Epic Update Reliance Industries

Benchmark indices remained volatile with the Nifty hovering around 8400 level ahead of December quarter earnings. Globally investors await more detail on the UK’s Brexit plan and the inauguration of President-elect Donald Trump in the US later this week.

The 30-share BSE Sensex was up 24.28 points at 27262.34 and the 50-share NSE Nifty gained 1.80 points at 8402.15 after nearly 2 percent rally last week.

The broader markets continued to outperform benchmarks with the BSE Midcap and Smallcap indices rising 0.3 percent and 0.5 percent, respectively. 
About 1421 shares advanced against 979 declining shares on the BSE.
HDFC, Tata Motors, HDFC Bank, Adani Ports and SBI were leading contributors to Sensex’s gains, up 0.5-2 percent. Tata Steel surged over 2 percent while Infosys and Reliance Industries fell over a percent followed by ITC and ONGC.
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