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Post Session: Sensex, Nifty end on flat note; Auto, metals, pharma support

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Dion Global

31 Dec 2018

Indian equities indices finished the last session of calendar year on a flat note after a muted session. Asian stocks were mixed amid mixed global cues. Wheres, European stocks were slightly higher on last day of 2018 as major stocks across the world look to record calendar year declines. The day began with a gap-up opening, as indicated by trends on SGX Nifty as well as Asian indices. But volatile moves in the subsequent hours ensured that D-Street saw erasing of all its gains. Selloff in financials, among others weighed on the indices. Sharp advances in metal stocks were marred by weakness in energy, infrastructure and realty sectors. Weakness was visible among index heavyweights, which dragged the indices. Meanwhile, among sectors, auto, metals and pharmaceuticals were all trading in the green.

Among individual stocks, NCC shares rallied 2 percent after global investment firm PhillipCapital has maintained buy call on the stock with a target price of Rs 145, implying nearly 68 percent potential upside. Cadila Healthcare shares gained a percent after Zydus received approval from the US health regulator for anti-acne drug. DCB Bank advanced a percent on Monday after CRISIL upgraded its credit rating to AA-/Stable from A+/Stable for the Basel III Complaint Tier II bonds programme of Rs 150 crore by the bank. Bharat Heavy Electricals shares 1 percent after the company bagged an order worth Rs 3,500 crore for setting up a 660 MW supercritical thermal power plant in West Bengal. Bharat Financial Inclusion and CreditAccess Grameen rallied 1 percent after the completion of direct assignment transaction.

The 30-benchmark closed at 36068.33 down by -8.39 points or by -0.02 per cent and then NSE Nifty was at 10862.55 up by 2.65 points or by 0.02 per cent. BSE Sensex touched intraday high of 36285.46 and intraday low of 36033.95 The NSE Nifty touched intraday high of 10923.55 and intraday low of 10853.2.

The top gainers of the BSE Sensex were Tata Steel Ltd. (Rs. 521.85,+1.59%), Vedanta Ltd. (Rs. 202.35,+1.48%), Tata Motors Ltd. (Rs. 93.30,+1.47%), Sun Pharmaceutical Industries Ltd. (Rs. 430.65,+1.42%), Tata Motors Ltd. (Rs. 172.60,+1.05%). On the other hand, Hero MotoCorp Ltd. (Rs. 3088.95,-1.32%), Axis Bank Ltd. (Rs. 619.80,-0.87%), NTPC Ltd. (Rs. 148.20,-0.77%), Housing Development Finance Corporation Ltd. (Rs. 1965.40,-0.74%), Coal India Ltd. (Rs. 240.75,-0.66%), were the top losers list of the BSE Sensex.

Sector wise, BSE Metal index was at 11839.59 up by 166.96 points or by 1.43%. National Aluminium Company Ltd. (Rs. 65.75,+3.46%), Steel Authority of India (SAIL) Ltd. (Rs. 56.45,+2.92%), JSW Steel Ltd. (Rs. 306.25,+2.84%), Jindal Steel & Power Ltd. (Rs. 164.75,+2.33%), NMDC Ltd. (Rs. 97.05,+1.68%). The CDS index also complemented it and was at 20694.63 up by 142.26 points or by 0.69%. Crompton Greaves Consumer Electricals Ltd. (Rs. 228.00,+1.65%), VIP Industries Ltd. (Rs. 516.50,+1.52%), Whirlpool of India Ltd. (Rs. 1394.60,+1.51%), Titan Company Ltd. (Rs. 929.95,+0.81%), Blue Star Ltd. (Rs. 615.00,+0.18%).

On the flip side, BSE Realty index was at 1797.83 down by -5.17 points or by -0.29%. Godrej Industries Ltd. (Rs. 649.65,-2.50%), Oberoi Realty Ltd. (Rs. 445.30,-1.71%), Sunteck Realty Ltd. (Rs. 345.35,-0.59%), Indiabulls Real Estate Ltd. (Rs. 87.20,-0.06%), DLF Ltd. (Rs. 177.65,-0.06%). BSE Oil&Gas index also followed the losing trend and was at 13748.57 down by -32.56 points or by -0.24%. Oil India Ltd. (Rs. 174.90,-1.30%), Hindustan Petroleum Corporation Ltd. (Rs. 253.25,-1.27%), Petronet LNG Ltd. (Rs. 224.25,-0.73%), Castrol India Ltd. (Rs. 151.15,-0.66%), Reliance Industries Ltd. (Rs. 1121.05,-0.42%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2961 , shares advanced were 1624 while 1151 shares declined and 186 were unchanged.