Nifty crosses 9,750-mark; Bharti Airtel, TCS, Wipro, Lupin and Coal India gained the most on BSE Sensex
Sterling fell to a 31-year low against the dollar on Monday as a sell-off stemming from Britain's decision to quit the European Union gathered pace, with the euro also pressured as Brexit clouded the future of the rest of the bloc.
The 30-share Sensex ended down by 59 points at 27,027 and the 50-share Nifty slipped 7 points at 8,087.
In these times of global uncertainty, be cautious in selecting the right market and fund.
A stable dollar will at minimum reduce incremental cross-currency pain for Indian cos.
Exchanges believe its legal status may now change, with the government pushing for digitised transactions.
This means lower losses on fuel sales by Indian oil companies and a shrinking oil subsidy bill for the government.
On the sectoral map, consumer durables stayed in the lead by surging 2.39 per cent, followed by realty index, oil and gas and infra.
The broader markets were marginally higher with mid-caps and small-caps gaining 0.1-0.4 per cent on the BSE.
Sectors such as Auto, Banks, Capital Goods, FMCG, Metal, Oil & Gas and Power are trading marginally lower.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
Those scheduled to attend the five-day WEF Annual meeting, beginning January 21, include more than 40 heads of state or government, including those from the UK, Australia, Japan, Iran, Israel, Pakistan, Brazil, Italy, Mauritius, Republic of Korea and Switzerland, WEF announced on Wednesday at a press conference in Geneva.
Ends the August F&O series on a high tracking gains in RIL, HDFC and ITC.
The rupee largely shrugged off the high volatility in stocks and rebounded sharply towards the fag-end trade following bout of dollar selling by exporters
Usually, a fall in oil prices is followed with a cut in retail prices of auto fuels and the government passes on the benefit to consumers. However, Morgan Stanley believes gains this time around will remain capped.
The BSE Midcap and the BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower
India must reckon with the possibility that it will struggle to attract higher overseas investment.
Year 2017 will be a benign year for FII flows into India feels Akash Singhania, deputy chief investment officer, DHFL Pramerica Asset Managers.
Inflation is down and there's every chance that crude prices will be subdued through the next year.
Despite the rally, on the basis of valuations, Indian markets aren't too expensive, says Christopher Wood, managing director and equity strategist at CLSA.
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Given the 18-day government shutdown in the US and the likelihood for continued wrangling between the Democrats and the Republicans, it now looks like tapering may be off the table till the first quarter of 2014.
The main losers on the Sensex were Tata Steel, Hero Moto, BHEL, ONGC & Maruti Suzuki.
The meet will focus on the recent global economic developments, challenges and collective measures to address them
All the sectoral indices, led by realty, metal, consumer durables and power were trading in the negative zone on Thursday.
Optimism about a stable govt at the Centre, a demand revival and falling oil prices buoyed the markets.
We are much better placed than in 2013 with our overall fundamentals much stronger - higher foreign exchange reserves, a more favourable growth-inflation mix and an institutional framework for targeting inflation, says B Prasanna.
Earnings growth is expected to accelerate as lingering toxic effects of note ban ease off and GST settles down. However, stock valuations are high and that means market is also overdue for correction, says Devangshu Datta.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
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Oil & gas, banking and pharma sector stocks stole the show
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Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
Sun Pharma was the best gainer among Sensex components, surging 6.91 per cent
The Sensex ended at a fresh record closing high of 28,889 while Nifty ended at a fresh record closing high of 8,730.
The optimism in global markets could help India as the rebound in GDP is expected to continue and get more broad-based.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
The 50-share NSE Nifty too closed down 168.30 points, or 1.58 per cent, at 10,498.25 -- a level last seen on January 3 when it closed at 10,443.20.
The crisis remains acute with the country's banks already closed.
The combination of sanctions, and low fuel prices is really hurting the Putin regime.
S&P BSE Midcap shed 0.8% while S&P BSE Smallcap tumbled 0.6%
Emerging markets and Asia may be first in the firing line
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