Market ends volatile trading session higher

Key benchmark indices got a boost from a strong rebound in global equities today, 17 November 2015. The barometer index, the S&P BSE Sensex, rose 99.66 points or 0.39% to 25,859.76, as per the provisional closing data. The Nifty 50 index rose 30.95 points or 0.40% to 7,837.55, as per the provisional closing data.

The Sensex hit its highest level in almost a week when it rose 188.10 points or 0.73% at the day's high of 25,948.20 in mid-afternoon trade, its highest level since 10 November 2015. The Nifty hit its highest level in a week when it rose 53.85 points or 0.69% at the day's high of 7,860.45 in mid-afternoon trade, its highest level since 10 November 2015. Earlier, the Sensex fell 27.31 points or 0.1% at the day's low of 25,732.79 in the afternoon trade. The Nifty fell 13.60 points or 0.17% at the day's low of 7,793 in the afternoon trade.

In overseas stock markets, European stocks rose today, 17 November 2015, extending a global rebound as concern about the geopolitical impact of the attacks in Paris faded. Asian markets rose today, 17 November 2015, as a weakening yen lifted Japanese shares and higher oil prices boosted the energy sector. US stocks edged higher yesterday, 16 November 2015, shrugging off concerns the market would be affected by the weekend terrorist attacks in Paris.

Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,395 shares rose and 1,291 shares declined. A total of 173 shares were unchanged. The BSE Mid-Cap index rose 0.27%, underperforming the Sensex. The BSE Small-Cap index rose 0.46%, outperforming the Sensex.

The total turnover on BSE amounted to Rs 2510 crore, lower than turnover of Rs 2669.53 crore registered during the previous trading session.

PSU banks were mixed. Central Bank of India (up 1.25%), Indian Bank (up 0.76%), Vijaya Bank (up 0.74%), Punjab and Sind Bank (up 0.53%), Punjab National Bank (up 0.50%), Allahabad Bank (up 0.26%), United Bank of India (up 0.23%), Dena Bank (up 0.12%) and State Bank of India (up 0.10%), edged higher. Union Bank of India (down 0.42%), Bank of India (down 0.75%), Andhra Bank (down 0.79%), Corporation Bank (down 1.18%), UCO Bank (down 1.36%), Syndicate Bank (down 1.53%), IDBI Bank (down 1.65%), Bank of Baroda (down 1.7%) and Canara Bank (down 1.95%), edged lower.

Private sector banks were mostly lower. ICICI Bank (down 0.11%), Kotak Mahindra Bank (down 0.3%), Yes Bank (down 0.69%), IndusInd Bank (down 0.77%) and Axis Bank (down 1.33%), edged lower. City Union Bank (up 1.82%), Federal Bank (up 0.26%) and HDFC Bank (up 0.21%), edged higher.

Realty shares edged lower. D B Realty (down 15.25%), Sobha (down 3.58%), Sunteck Realty (down 3.02%), Peninsula Land (down 1.73%), Godrej Properties (down 1.14%), Oberoi Realty (down 0.53%), Phoenix Mills (down 0.34%), Indiabulls Real Estate (down 0.08%) and Prestige Estates Projects (down 0.05%), edged lower. Unitech (up 0.15%), Parsvnath Developers (up 0.31%), DLF (up 1.27%), Housing Development and Infrastructure (HDIL) (up 2.65%) and Anant Raj (up 2.89%), edged higher.

On the macro economic front, data released by the government after market hours yesterday, 16 November 2015 showed that India's merchandise exports continued to decline for the eleventh straight month at 17.5% to $21.35 billion in October 2015 over October 2014. Meanwhile, merchandise imports also dipped 21.2% to $31.12 billion. The trade deficit narrowed 28.1% to $9.77 billion in October 2015 from $14.47 billion in October 2014.

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