Nifty closes 10500; Sensex rises 120 points

The January series market has started with the edge. Nifty has reached 10500, then the Sensex has gained 120 points. Sensex and Nifty are trading at more than 0.25 per cent.

Midcap and smallcap stocks are looking good shopping. The BSE Mid-Cap Index has jumped 0.7 percent, while the Nifty Mid-Cap 100 Index has gained 0.7 percent. BSE's smallcap index has risen to 0.7 percent.

Purchase in auto, FMCG, metal, pharma, PSU bank, capital goods, consumer durables, power and oil and gas stocks. However, the Nifty is trading at a level of 25,513 with a marginal increase of 0.1 percent.

At the moment, BSE's 30-share index Sensex is trading at a level of 33,968 with a 120-point increase of 0.4 percent. NSE's 50-share index Nifty is trading 32 points i.e. 0.3 percent and trading at 10,510 levels.

Lupine, Power Grid, L & T, Adani Ports, Tata Steel, SBI and NTPC have risen 1.4-0.8 per cent in giants in the market during the business. However, Wipro, ICICI Bank, GAIL and Hindalco have fallen 0.9-0.25 per cent in the giants.

Among the midcap stocks, Reliance Communications, Reliance Capital, Bajaj Holdings, Wockhardt and Reliance Power have risen 21.6-3.3 per cent. However, Blue Dart, Apollo Hospitals, Glaxo Consumer, United Breweries and JSW Steel have rallied 0.7-0.1 per cent in the midcap stocks.

Finochetx, Flexetf International, IFCI, JP Infra and Dredging Corp have been strengthened at 16.2-9.5 percent in smallcap stocks. However, in smallcap stocks, OK Play, Oriental Weinier, Calton Tech, Adlabs Entertainment and Gujarat Borosil are broken up to 4-2 per cent.

What are the strategies in the commodity market?

Gold in the global market has reached extremely close to $ 1290. This is the upper level of 3.5 weeks. Gold has got support from sluggish dollar. Indeed, the dollar index is also at the lower level of 3 weeks. Meanwhile, silver has stopped staying at the upper level of the last 1 month. It is trading above $ 16.5. Gold on MCX is showing a gain of 0.3% and is looking at Rs. 29036. At the same time, silver is trading at Rs 38,800 with the strength of 0.3 percent.

The crude oil continues to flourish even today. Brent price is at the upper level of 2.5 years in the global market. It is trading above $ 66.6. While NYmax crude has reached extremely close to $ 60. On MCX, crude oil has come in at around Rs 3840 with 0.5 percent increase.

There is also a rise in the metal and Copper has reached the top level of the last 4 years on the London Metal Exchange. Prices have been supported by the demand for China's rise in demand. About 30 percent of copper has come in this year. Today the weakness in the rupee has increased against the dollar and the price of 1 dollar is Rs 64.20.

In Agri Commodities, the January futures of mustard on NCDEX is showing an increase of 0.25 per cent over Rs 3,650. At the same time, January futures of Soya oil have been around Rs. 720 with a slight increase of 0.03 percent.

Markets expected to open flat, in-line with Asian peers

Global markets

Major Asian markets are trading flat at present with Shanghai Composite down 0.17%, Hang Seng is up 0.16%, while Nikkei is trading flat, up 0.07%.

US Markets: Stocks witnessed modest weakness during yesterday’s trading session. The major averages all ended the day in negative territory. The Dow edged down less than a tenth of a percent at 24,746.21, the Nasdaq fell 0.3% to 6,936.25 and the S&P 500 dipped 0.1% to 2,680.50. A decline in shares of Apple weighed in on the tech-heavy Nasdaq, with the tech giant ending the day 2.5% lower.The drop in Apple came after a report from Taiwan's Economic Daily predicting the company would lower its forecast for first-quarter iPhone X sales to 30 million.

All the major European markets remained shut yesterday.

FII /DII Data: In yesterday’s session FII’s sold 44 crores stock whereas DII’s bought 544 crores worth of stock. In the derivative market, FII’s sold 49 crores of Index futures and bought 1,080 crores worth of Index options. In the Stock futures segment, FII’s sold 115 crores worth of stock futures and bought 49 crores stock options.

Nifty, Sensex hit lifetime highs; TCS gains 1.5%

Shrugging off the weak cues from most Asian markets, domestic stock market started the holiday-truncated week on a marginally positive note and the benchmark indices notched fresh lifetime highs, led by gains in shares of Tata Consultancy Services and metal and mining companies.

At 9:49 AM, the Nifty50 at 10500 points, up 7.50 points, or 0.1% from previous close after hitting a record high of 10515.10 points. BSE Sensex peaked to a lifetime high of 34005.37 today and now its trading at 33.86 points, or 0.1% higher at 33974 points.

Shares of TCS rose 1.5% in early trade after a report said the software major is confident that global corporations will renew large outsourcing contracts even as the number of such deals from new customers shrink.

IOC and BPCL are both keen to acquire gas utility GAIL India Ltd to become fully integrated energy companies.

The broader gains were also supported by positive traction in shares of GAIL India, Vedanta, Oil and Natural Gas Corp and Coal India, up 0.7-1.1%.

Nifty Metal and Nifty Energy indices, up 0.5% each, were the top gainers among the sectoral indices.

Infosys' shares, down 1.3%, were the worst hit on Nifty50 after a report said co-founder N.R. Narayana Murthy has flayed the high wage hikes that senior managements have been apportioning to themselves.

Meanwhile, the Indian rupee opened marginally higher at 64.03 per dollar on Tuesday versus 64.05 on Friday.

Natural Gas Off Ten Month Low, Sentiments Hurt On Break Under $3 Levels

Natural Gas futures recovered today after falling to a ten month low yesterday. Prices extended losses and sustained hefty declines for a second session as a drop under the key $3 per mmbtu levels continued. The US Energy Information Administration (EIA) reported Thursday that US natural gas stocks decreased by 182 billion cubic feet for the week ending December 15. The five-year average for the week is a withdrawal of 125 billion cubic feet, and last year’s storage withdrawal for the week totaled 200 billion cubic feet. Natural gas inventories fell by 69 billion cubic feet in the week ending December 8. The commodity is currently trading at $2.62 per mmbtu, up 092% on the day. MCX Natural Gas futures are trading at Rs 168 per mmbtu, up 0.66% on the day.

Yesterday, the markets focused on the fact that US is likely to see temperatures around the Christmas holidays in the eastern region. Total US stockpiles fell week over week to 5% below last year’s level and are now 2.4% below the five-year average. The EIA reported that U.S. working stocks of natural gas totaled about 3.444 trillion cubic feet, around 84 billion cubic feet below the five-year average of 3.528 trillion cubic feet and 183 billion cubic feet below last year’s total for the same period. Working gas in storage totaled 3.627 trillion cubic feet for the same period a year ago.