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Sensex gains 200 points, Nifty holds 8,150; HDFC, Maruti Suzuki lead

Sensex surged 200 points led by gains in telecom and metal sector indices while Nifty50 traded above 8,150 levels

Pranati Deva  |  New Delhi 

Photo: Shutterstock
Photo: Shutterstock

Domestic indices were trading higher in today’s trade following mixed global cues from Asian as Wall Street retreated from record highs. Back home, Modi government's new tax scheme yesterday for black money holders also impacted the sentiment.

surged 100 points led by gains in energy, and sector indices while Nifty50 traded above 8,150 levels.



At 10:24 am, the S&P BSE was trading at 26,555, up 205 points, while Nifty50 was quoting 8,183, up 56 points. Broader outperform benchmark indices with Midcap was up 0.87% while Small Cap was trading 0.99% higher.


“A pull back below 8,030, can lead to sharp drop to 7,800 and beyond. Alternatively, push above 8,186 could extend short covering rally to 8,280-8,360,” said Geojit BNP Paribas Financial Services in a technical note.

On Monday, foreign institutional investors were net sellers with net equity sell value of Rs 1,436.40 crore, while domestic institutional investors bought equities worth Rs 1,233.79 crore, provisional data available with BSE suggested.

Sectors and Stocks

was the top gainer on Sensex, trading 2.31% higher followed by and up 2% and 1.94% respectively.

Tata Steel shares gained 1.74% after Tata Steel UK on Monday announced the signing of a letter of intent with Liberty House Group to enter into exclusive negotiations for sale of its Speciality Steels business for 100 million pounds.


Oil India fell close to 1% post disappointing earnings result. The company reported 17.7 per cent drop in the September quarter net profit on account of fall in oil prices.

IT was the only sectoral index trading in red dragged TCS and Wipro anticipating change in US Visa programmed post Trump win. 

Among other losers, and Power Grid fell almost 1% each.

Amendments to IT act

For, black money holders, Centre has proposed to levy a total tax, penalty and surcharge of 50% on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85% await those who don't disclose but are caught.

For those who continue to hold onto undisclosed cash and are caught, existing provisions of the Income Tax law will be amended to provide for a flat 60% tax plus a surcharge of 25% of tax (15%), which will amount a levy of 75%.


The current provisions of penalty on under-reporting of income at 50% of the tax, and misreporting (200% of tax) will remain and no changes are being made to them.

Global Markets

Asian stocks were trading in green as Wall Street retreated from record highs. Hang Seng and Shanghai indices were trading higher by 0.11% and 0.10%, respectively while Nikkei was down 0.16%.

US stocks declined on Monday for their worst performance in nearly a month, weighed down by a pullback in the financial and consumer discretionary sectors as some investors booked profits on the heels of a record-setting week.

The three major US indexes had closed higher for the third week in a row on Friday, with the S&P 500 notching its seventh record close since the US presidential election on November 8.

US stocks have jumped since Donald Trump's victory in the presidential election, with the S&P 500 up nearly 3%, as investors expect his plans to boost infrastructure spending, cut corporate taxes and reduce regulation to benefit the economy.

EU Consumer confidence data and US GDP are also scheduled for later in the day. 

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Sensex gains 200 points, Nifty holds 8,150; HDFC, Maruti Suzuki lead

Sensex surged 200 points led by gains in telecom and metal sector indices while Nifty50 traded above 8,150 levels

Sensex surged 200 points led by gains in telecom and metal sector indices while Nifty50 traded above 8,150 levels Domestic indices were trading higher in today’s trade following mixed global cues from Asian as Wall Street retreated from record highs. Back home, Modi government's new tax scheme yesterday for black money holders also impacted the sentiment.

surged 100 points led by gains in energy, and sector indices while Nifty50 traded above 8,150 levels.

At 10:24 am, the S&P BSE was trading at 26,555, up 205 points, while Nifty50 was quoting 8,183, up 56 points. Broader outperform benchmark indices with Midcap was up 0.87% while Small Cap was trading 0.99% higher.


“A pull back below 8,030, can lead to sharp drop to 7,800 and beyond. Alternatively, push above 8,186 could extend short covering rally to 8,280-8,360,” said Geojit BNP Paribas Financial Services in a technical note.

On Monday, foreign institutional investors were net sellers with net equity sell value of Rs 1,436.40 crore, while domestic institutional investors bought equities worth Rs 1,233.79 crore, provisional data available with BSE suggested.

Sectors and Stocks

was the top gainer on Sensex, trading 2.31% higher followed by and up 2% and 1.94% respectively.

Tata Steel shares gained 1.74% after Tata Steel UK on Monday announced the signing of a letter of intent with Liberty House Group to enter into exclusive negotiations for sale of its Speciality Steels business for 100 million pounds.


Oil India fell close to 1% post disappointing earnings result. The company reported 17.7 per cent drop in the September quarter net profit on account of fall in oil prices.

IT was the only sectoral index trading in red dragged TCS and Wipro anticipating change in US Visa programmed post Trump win. 

Among other losers, and Power Grid fell almost 1% each.

Amendments to IT act

For, black money holders, Centre has proposed to levy a total tax, penalty and surcharge of 50% on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85% await those who don't disclose but are caught.

For those who continue to hold onto undisclosed cash and are caught, existing provisions of the Income Tax law will be amended to provide for a flat 60% tax plus a surcharge of 25% of tax (15%), which will amount a levy of 75%.


The current provisions of penalty on under-reporting of income at 50% of the tax, and misreporting (200% of tax) will remain and no changes are being made to them.

Global Markets

Asian stocks were trading in green as Wall Street retreated from record highs. Hang Seng and Shanghai indices were trading higher by 0.11% and 0.10%, respectively while Nikkei was down 0.16%.

US stocks declined on Monday for their worst performance in nearly a month, weighed down by a pullback in the financial and consumer discretionary sectors as some investors booked profits on the heels of a record-setting week.

The three major US indexes had closed higher for the third week in a row on Friday, with the S&P 500 notching its seventh record close since the US presidential election on November 8.

US stocks have jumped since Donald Trump's victory in the presidential election, with the S&P 500 up nearly 3%, as investors expect his plans to boost infrastructure spending, cut corporate taxes and reduce regulation to benefit the economy.

EU Consumer confidence data and US GDP are also scheduled for later in the day. 
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Business Standard
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Sensex gains 200 points, Nifty holds 8,150; HDFC, Maruti Suzuki lead

Sensex surged 200 points led by gains in telecom and metal sector indices while Nifty50 traded above 8,150 levels

Domestic indices were trading higher in today’s trade following mixed global cues from Asian as Wall Street retreated from record highs. Back home, Modi government's new tax scheme yesterday for black money holders also impacted the sentiment.

surged 100 points led by gains in energy, and sector indices while Nifty50 traded above 8,150 levels.

At 10:24 am, the S&P BSE was trading at 26,555, up 205 points, while Nifty50 was quoting 8,183, up 56 points. Broader outperform benchmark indices with Midcap was up 0.87% while Small Cap was trading 0.99% higher.


“A pull back below 8,030, can lead to sharp drop to 7,800 and beyond. Alternatively, push above 8,186 could extend short covering rally to 8,280-8,360,” said Geojit BNP Paribas Financial Services in a technical note.

On Monday, foreign institutional investors were net sellers with net equity sell value of Rs 1,436.40 crore, while domestic institutional investors bought equities worth Rs 1,233.79 crore, provisional data available with BSE suggested.

Sectors and Stocks

was the top gainer on Sensex, trading 2.31% higher followed by and up 2% and 1.94% respectively.

Tata Steel shares gained 1.74% after Tata Steel UK on Monday announced the signing of a letter of intent with Liberty House Group to enter into exclusive negotiations for sale of its Speciality Steels business for 100 million pounds.


Oil India fell close to 1% post disappointing earnings result. The company reported 17.7 per cent drop in the September quarter net profit on account of fall in oil prices.

IT was the only sectoral index trading in red dragged TCS and Wipro anticipating change in US Visa programmed post Trump win. 

Among other losers, and Power Grid fell almost 1% each.

Amendments to IT act

For, black money holders, Centre has proposed to levy a total tax, penalty and surcharge of 50% on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85% await those who don't disclose but are caught.

For those who continue to hold onto undisclosed cash and are caught, existing provisions of the Income Tax law will be amended to provide for a flat 60% tax plus a surcharge of 25% of tax (15%), which will amount a levy of 75%.


The current provisions of penalty on under-reporting of income at 50% of the tax, and misreporting (200% of tax) will remain and no changes are being made to them.

Global Markets

Asian stocks were trading in green as Wall Street retreated from record highs. Hang Seng and Shanghai indices were trading higher by 0.11% and 0.10%, respectively while Nikkei was down 0.16%.

US stocks declined on Monday for their worst performance in nearly a month, weighed down by a pullback in the financial and consumer discretionary sectors as some investors booked profits on the heels of a record-setting week.

The three major US indexes had closed higher for the third week in a row on Friday, with the S&P 500 notching its seventh record close since the US presidential election on November 8.

US stocks have jumped since Donald Trump's victory in the presidential election, with the S&P 500 up nearly 3%, as investors expect his plans to boost infrastructure spending, cut corporate taxes and reduce regulation to benefit the economy.

EU Consumer confidence data and US GDP are also scheduled for later in the day. 

image
Business Standard
177 22

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