Live Stock Market Updates - Nifty hovers above 8000, Hindalco up

At 12:07 PM, the S&P BSE Sensex is trading at 26356 up 49 points, while NSE Nifty is trading at 8,096 up 13 points.

Dec 21, 2016 06:12 IST India Infoline News Service

Nifty opens above 8100 but was unable to sustain above the same. 8150 remains the important immediate resistance for the index, sustaining above which buying may be seen.

Nifty Bank nears its important support of 200-DMA placed  at 18000 levels. Past few weeks range remains at 18000-18750. Bounce from this low is not ruled out as per technical analysts, however, if Nifty bank sustains below 18000, it would lead to breakdown, and may accentuate selling pressure.

At 12:07 PM, the S&P BSE Sensex is trading at 26356 up 49 points, while NSE Nifty is trading at 8,096 up 13 points. A total of 8 stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Out of 1884 stocks traded on the NSE, 641 declined, 880 advanced and 363 remained unchanged today.

The BSE Mid-cap Index is trading up 0.29% at 12039, whereas BSE Small-cap Index is trading down 0.39% at 11993.

Some buying activities is observed in Auto, Metal, Bank, Oil & Gas, Pharma sectors while other sectors are witnessing marginal movement. FMCG, Information Technology, Telecommunications, Consumer Durables are showing weakness on BSE.

Hindalco, Bosch, M&M, Bajaj Auto, Eicher Motors, HDFC, Ultratech Cement, Coal India, ACC are among the gainers, whereas Infratel, TCS, Sun Pharma, Zee, GAIL, ITC, Tata Motors, L&T, Ambuja Cement, IndusInd Bank are losing sheen on NSE.

The INDIA VIX is down 1.68% at 14.29.

Buzzing Stocks:

IRB Infra unit gets arbitral amount of Rs 20.55 crore from NHAI.

Sun Pharma completes 85.1%  acquisition of Russia's JSC Biosintez.

Sun Pharma said one of its subsidiaries has voluntarily requested the US health regulator to withdraw approval for 28 abbreviated new drug applications belonging to Ranbaxy Laboratories.

Bajaj Hindusthan Sugar Ltd plans to sell its co-generation power business to its group company Lalitpur Power Generation Company Ltd (LPGCL) for about Rs18 billion.

Jyoti Structures wins $15 mn order from South Africa's ESKOM.

Welspun Enterprises Ltd said its board of directors will meet later this week to consider buyback of equity shares.

Seamec in pact for charter hire agreement with National Petroleum Construction Co.

Oriental Carbon: Commercial prodn of 1st phase at Mundra SEZ ahead of schedule.

Future Enterprises (FEL) will be selling 16% stake in Future Lifestyle for Rs 3.80 billion, a notice to the stock exchanges. FEL owns the physical assets or the store formats and infrastructure assets in the stores of Future Retail and Bharti retail.

NIIT Tech in settlement agreement with Govt firm for contract that was previously on hold.

8K Miles Software Services has announced the acquisition of Cornerstone Advisors Group LLC for $

10.25 million. The acquisition, through its US-subsidiary, is subject to customary closing conditions and is expected to conclude in the quarter ending March 31, 2017.

Tridevi Capital Partners to invest USD20mn in Prabha Energy Private Limited, a subsidiary of Deep Industries Limited. The subsidiary valuation is estimated to be $ 50 million.

Jubilant Life Sciences, a global leader in the pyridine, picolines and nutrition industry, announced a price increase of up to 15% on select products.

Cognizant Technology Solutions has acquired the technology and business process services unit of Frontica Business Solutions AS, helping it gain access to capabilities in the oil and gas sector.

The US Food and Drug Administration (USFDA) has issued Form 483 observations against Unit I of Aurobindo Pharma Limited in Hyderabad.

Oil and Natural Gas Corporation has tied up with Hughes Communications India to revamp and upgrade its existing satellite network across India.

Vedanta Resources has been ordered by London High Court to pay over $ 100 million to a Zambian investment company related to a 2013 copper price agreement.

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