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Monday, 5 January 2015

Sensex, Nifty choppy; infra & auto stocks surge, IT weak

It has been very volatile trading day with the market showing some wild swings. The Sensex is down 151.31 points at 27876.35 and the Nifty is down 6.55 points at 8388.90. About 1505 shares have advanced, 1277 shares declined, and 595 shares are unchanged.

Maruti, ONGC, Tata Steel, L&T and Hero are major gainers while Bharti, Dr Reddy's, TCS, BHEL and HDFC fall.

The broader Nifty rose to its highest in nearly a month, gaining for a seventh consecutive session as stocks focused on the domestic market rose on hopes of fresh foreign allocations at the start of the year.

Foreign investors bought Indian shares worth USD 45.3 million on Thursday and Friday, adding to the USD 16.11 billion they infused in 2014, as per regulatory data.

Investors expect Prime Minister Narendra Modi's government to continue with the reforms process while fresh buying is expected ahead of the federal budget and December-quarter results.

The quarterly earnings season kick-starts with Infosys' results on January 9. More information please visit this site

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