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Nifty settles Dec F&O expiry above 8,100, Sensex gains 155 points

 

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  The benchmark indices on Thursday settled the December series of future & options on a positive note on renewed buying in the late afternoon trade.

 

The market traded flat for major part of the session as subdued trend seen in global markets after Wall Street suffered a mild setback overnight capped the gains. 

The S&P BSE Sensex settled the day at 26,366, up 155 points, while the broader Nifty50 ended at 8,103, up 69 points. The broader market outperformed the headline indices with BSE Midcap and BSE Smallcap adding over 1% each. 

Market breadth remained strong with over two gainers against every loser on BSE. 1,672 shares gained and 906 shares fell. A total of 169 shares were unchanged.

“Nifty is expected to trade with a positive bias in the near term. After witnessing significant volatility in the near past, Nifty has taken a strong support at 7,900-7,950 levels. We expect the index to trade in the range of 7,900-8,500 with buying on dips suggested,"said Sahaj Agrawal, Deputy Vice President - Derivatives Research at Kotak Securities in a note.

"The rollovers to January series have been 69% (provisional data) which is in line compared to the average rollovers of 49% in the last three series," said Chandan Taparia of Anand Rathi. The market-wide rollovers came in at 81%.

Sectors and stocks

Among sectors, BSE Consumer Durables (up 1.7%) was the leading sectoral gainer, led by gains in Blue Star (up 3.9%), Titan (2.9%), TTK Prestige (up 1.9%) and Crompton Greaves (up 1.3%). Other gainers included BSE Oil & Gas (up 1.6%), BSE Metal (up 1.4%) and BSE Energy (up 1.5%). 

Among individual stocks, IFCI surged 14% to Rs 28 after India’s biggest bourse NSE filed its draft prospectus for a Rs 10,000-crore Initial Public Offer (IPO) of equity with the Securities and Exchange Board of India (Sebi). 

IRB Infrastructure Developers rose over 2% to Rs 195.60 after the company said it received letter of award from National Highways Authority of India (NHAI) for six-laning of 90 km stretch of National Highway (NH) 79A and NH 79 in Rajasthan. 

India Tourism Development Corporation (ITDC) hit its upper circuit by rising 20% to Rs 212 ahead of its listing on the National Stock Exchange (NSE) on Friday.

JBM Auto ended 5.8% higher to Rs 235 after the company said the board approved the fund raising plan by up to Rs 600 crore through issuance of equity shares. 

Global markets

Overseas, European shares were trading lower as banking shares and miners fell. Asian stocks ended on a mixed note. Trading has been thin across the globe during the last week of the year on account of Christmas and New Year holidays. 

The pan-European Stoxx 600 was 0.6% lower, while the German DAX and the French CAC were down 0.4% each. In Asia, China's Shanghai Composite ended 0.2% lower, while Japan's Nikkei shed 1.3%.