Amid a bout of volatility was witnessed as key benchmark indices moved into the green from red in early afternoon trade. At 12:18 IST, the barometer index, the S&P BSE Sensex, was up 14.84 points or 0.06% at 25,165.19. The 50-unit Nifty 50 index was up 0.55 points or 0.01% at 7,650.60. The Sensex rose 39.77 points or 0.15% at the day's high of 25,190.12 at the onset of the trading session. The barometer index fell 74.81 points or 0.29% at the day's low of 25,075.54 in morning trade. The Nifty rose 13.90 points or 0.18% at the day's high of 7,663.95 at the onset of the trading session, matching the intraday high it had hit yesterday, 14 December 2015. The Nifty fell 24.95 points or 0.32% at the day's low of 7,625.10 in morning trade.
The market breadth indicating the overall health of the market was positive. On BSE, 1,328 shares rose and 974 shares fell. A total of 150 shares were unchanged. The BSE Mid-Cap index was currently up 0.11%. The BSE Small-Cap index was currently up 0.36%. Both these indices outperformed the Sensex.
Most telecom shares declined. Idea Cellular (down 3.78%), MTNL (down 1.71%), Reliance Communications (down 0.87%) and Tata Teleservices (Maharashtra) (down 0.5%), edged lower. Bharti Airtel was up 0.69%
Power generation stocks were mixed. Adani Power (up 1.50%), Reliance Infrastructure (up 0.90%), Jaiprakash Power Ventures (up 0.61%), Torrent Power (up 0.38%) and CESC (up 0.15%), edged higher. GMR Infrastructure (down 0.33%), Tata Power (down 0.49%), Reliance Power (down 0.92%), NTPC (down 1.39%) and JSW Energy (down 1.81%), edged lower.
Hotel Leelaventure rose 3.46% after the company completed the sale of its hotel in Goa to Ceres Hotels on a slump sale basis for a lump sum consideration of Rs 725 crore.
Marathon Nextgen Realty 2.64% after the company fixed 22 December 2015 as the record date for the purpose of issue of one bonus share for every two shares held. The announcement was made after market hours yesterday, 14 December 2015.
On the macro front, data released by the government after trading hours yesterday, 14 December 2015, showed that inflation based on the consumer price index (CPI) spiked to 5.41% in November 2015 from 5% in October 2015. The acceleration in consumer price inflation was driven by an increase in food prices.
In overseas stock markets, Asian stocks witnessed a mixed trend amid caution ahead of a highly anticipated US Federal Reserve meeting this week. The Fed is widely expected to raise the federal funds rate by 25 basis points after the conclusion of a two-day monetary policy meeting on 16 December 2015. With markets having already priced in a 25 basis points rate hike this week, the focus has shifted to the likely pace and quantum of rate hikes once this first move is done. US stocks ended a volatile session with modest gains yesterday, 14 December 2015, lifted by a rebound in crude-oil prices.
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