INDIAN EQUITY MARKET OUTLOOK - 5 Jan 2018

Sensex, Nifty hit fresh record highs; Metal index top gainer

Equity benchmarks extended gains in morning on last day of the week, tracking positive global cues. Banking & financials, infra and metals stocks continued to gain.

The 30-share BSE Sensex was up 102.64 points at 34,072.28 and the 50-share NSE Nifty gained 27 points at 10,531.80.

About 1,201 shares advanced against 284 declining shares on the BSE.

SBI, Hindalco Industries, Yes Bank, Indiabulls Housing Finance, L&T, UltraTech Cement, Vedanta, Tata Steel and Maruti Suzuki were early gainers.

HCL Technologies, Tech Mahindra, Wipro, TCS and Infosys were mildly lower on strong rupee.

GM Breweries gained 14.5 percent on strong earnings.Nifty Midcap added half a percent today, on top of 1 percent rally in previous session.

Bharat Forge shares gained 2 percent in early trade after strong Class 8 truck orders in the US.

North America Class 8 truck orders shot up 77 percent to 37,200 units in December against 21,061 units in year-ago month.

Shares of Indian Overseas Bank (IOB) gained 9 percent in the early trade as bank decided to utilise share premium balance to write off the accumulated losses.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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