Benchmark indices mixed on the second trading session of the week on account of mixed global cues also the investor are eyeing on the two days GST council meeting starting today in which the council will undertake the implementation issues of GST bill in IT, telecom, banking and insurance. Nifty closed the day below the psychological mark of 8200 at 8196.50.
The power and banking Stocks were the major gainers of the day while Telecom and Auto stocks were the losers for the day.
Global Markets Update
Oil prices rose sharply in the first trading session of 2017 on Tuesday, as traders watched developments surrounding the landmark deal reached by the OPEC and several non-OPEC oil producers to reduce their output this year.
Strength in financials and commodity-related stocks continued to underpin European equity markets with Britain’s FTSE 100 starting the New Year at a record high on Tuesday.
LIC Housing Finance ends on a flat to positive note after company has been downgraded by Morgan Stanley owing to unexpected MCLR (Marginal Cost of Funds based Lending Rate) cuts. Morgan Stanley has downgraded from overweight to equal weight.
Tata Motors shares moved higher on NSE after company had launched its first product of the year, the new Tata Xenon Yodha, in the presence of its newly appointed brand ambassador, Akshay Kumar.
NMDC shares gains after company increased its Lump ore prices. The iron ore prices w.e.f. (with effect from) January 3 have been fixed at Rs 2225/WMT for Lump ore; while at Rs 1985/WMT for Fines.
Titan shares gains after said that Q3 December 2016 started off on a high of the festive season and long awaited resurgence of the consumer sentiment.
Aban Offshore today announced the completion of sale of 59 percent equity shares held by Aban Offshore in Aban Green Power and Radhapuram Wintech – subsidiaries of Aban Offshore. The company also completed the transaction for acquisition of 49% equity shares in Aban Drilling Services.
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