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Sensex ends up 217pts, Nifty reclaims 7800; ITC, ONGC gain

Dec 21, 2015, 04.44 PM | Source: Moneycontrol.com

Sun Pharma lost 4 percent while HUL, GAIL, HDFC Banka nd Reliance were losers in the Sensex. ONGC, ICICI Bank, ITC, M&M and Vedanata were gainers.

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Sensex ends up 217pts, Nifty reclaims 7800; ITC, ONGC gain

Sun Pharma lost 4 percent while HUL, GAIL, HDFC Banka nd Reliance were losers in the Sensex. ONGC, ICICI Bank, ITC, M&M and Vedanata were gainers.

16:07

TheNewsInternational Team

Christmas cheers lightened up Dalal Street as bulls kick-start the week in high spirits. The Nifty reclaimed 7800 while the Sensex inched closer to 26,000 with support from banks, metals and FMCG stocks.

Analysts are betting on India as it is considered to be one of the most compelling plays regarding emerging market. Xavier Denis, Global Strategist at Societe Generale says valuations are a bit expensive but it is still overweight on India within the emerging market space.

“I think receding inflation and possibility of an additional rate cut and also limited exposure of the bond market to foreign investors, limited foreign bond holdings positive for the bond markets. Therefore, in both cases we keep an overweight,” he says in an interview to CNBC-TV18.

The Sensex ended up 216.68 points or 0.8 percent at 25735.90, and the Nifty was up 72.50 points or 0.9 percent at 7834.45. About 1776 shares advanced, 929 shares declined, and 207 shares are unchanged.

Brent crude slumped to its lowest level in 11 years as the supply glut continues unabated. US lifting ban on oil exports added more pressure on already plunging prices.

Analysts said a strong dollar following last week’s US interest rate hike, which makes oil consumption more expensive for countries using different currencies, as well as a renewed increase in US oil rig counts were weighing on crude prices.

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ONGC, ICICI Bank, ITC, M&M and Vedanta were gainers.

Sun Pharma slumped over 7 percent intraday as investors grew cautious about a warning letter for its Halol manufacturing unit. The drug major has received a warning letter from the USFDA over violation of manufacturing norms in its facility at Halol in Gujarat. Analysts are mixed on the stock.

HUL, GAIL, HDFC Bank and Reliance were other losers in the Sensex.

Midcap and small cap indices also saw good buying. KSK Energy Vent, Shoppers Stop, HDIL, Dhanuka Agritech and Anant Raj were top midcap gainers.

InterGlobe Aviation lost 5 percent intraday Monday on concerns of delay in plane order. The owner of low-budget airline company, IndiGo, has said that delivery of A320 neo aircraft has been delayed due to “industrial reasons.

14:00

Sensex ends up over 200 pts, Nifty gains 72pts; FMCG surges

ONGC, ICICI Bank, ITC, M&M, Vedanta were top gainers in the Sensex. Among losers were Sun Pharma, HUL, GAIL, HDFC Bank and Reliance.

Read More »

13:00

Sensex, Nifty continue to rise; ITC, M&M, Coal India gainRead More »

ICICI Bank, ONGC, ITC, M&M and Coal India are top gainers in the Sensex. Among losers are Sun Pharma, HUL and HDFC Bank.

Read More »

12:00

Sensex, Nifty maintain uptrend; Mid & Smallcap indices riseRead More »

ICICI Bank, ONGC, M&M, Tata Steel and Coal India are top gainers while Sun Pharma, HUL, Reliance and HDFC Bank are laggards.

Read More »

11:00

Nifty tests 7800, Sensex up over 100pts; banks, metals gainRead More »

ICICI Bank, ONGC, Coal India, M&M, Axis Bank are top gainers while Sun Pharma, HUL, Wipro and Reliance are major laggards in the Sensex.

Read More »

10:00

Sensex, Nifty flat; ICICI Bank up 2%, HUL & Wipro fall 1%Read More »

ICICI Bank, Hindalco, Tata Steel, M&M and ONGC are top gainers while Sun Pharma, HUL, Wipro, Infosys and Bharti Airtel.

Read More »

09:15

Nifty opens below 7750, Sensex weak; Sun Pharma tanks 6%Read More »

The market has kick-started the truncated week in red. The Sensex is down 94.31 points or 0.4 percent at 25424.91 and the Nifty is down 16.30 points or 0.2 percebt at 7745.65. About 356 shares have advanced, 183 shares declined, and 54 shares are unchanged.

Read More »

READ MORE ON  BSE, Sensex, NSE, Nifty, market, ITC, reliance, Brent, Sun Pharma, M&M, ONGC
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