Sensex ends in red, Nifty holds above 8,000; midcaps, smallcaps outperform

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Benchmark indices pared all gains settled the day on a flat note as sentiment remained cautious ahead of F&O expiry of December series.

took a sudden plunge in the late afternoon trade minutes after hit its crucial 8,100-mark.  settled the day in red after rising as much as 202 points during the day.

The S&P BSE ended the day at 26,211, down 3 points, while the broader Nifty50 settled 2 points higher at 8,034.

Broader outperformed headline indices with BSE ending the day 0.53% up while BSE rising 0.87% at closing.

“With only a month ahead of union budget, have begun to give more ear to budget expectations and relief measures, which in turn gave more legs to the ongoing short covering rallies. But with FII action largely restricted to F&O, the closing hour saw investors locking in gains ahead of derivatives expiry, erasing much of the day’s gains,” said Anand James, Chief Market Strategist, Geojit BNP Paribas in a note.

hit a seven-month low in the start of the week on worries about capital outflows from emerging to the United States after Donald Trump’s election win and demonetisation.

Headline indices, which gained about 1.6% in the previous session, their biggest in nearly three weeks, had declined in eight out of nine sessions as of Monday’s close.

Buzzing Stocks

Coal India, Wipro, Dr Reddy’s, and Lupin were the top gainers in while PowerGrid, Reliance, Tata Steel, HeroMoto Corp and Tata Motors were the biggest laggards.

Bharti Infratel, the top percentage gainer on NSE, rose as much as 3.7%, after Goldman Sachs upgraded the stock to “neutral” on Tuesday, saying accelerated 4G deployment by telecom companies is likely to result in strong tenancy growth for the company. The stock settled 2.35% higher.

Sunil Hitech hit its upper circuit of 5% at closing after the company informed bourses that it has bagged an order worth Rs 434 crore in the state of Arunachal Pradesh for National Highways & Indrastructure Development Corporation Ltd on Engineering, Procurement & Construction (EPC) Mode.

RPP Infra Projects hit a record high of Rs 238.30, up 20% on NSE in intra-day trade on back of over 10-fold jump in trading volumes. The stock has risen 121% in the year 2016 as compared to 1% rise in the 50 index. It gained 20% at closing.

Global Markets

Asia stocks followed Wall Street higher on Wednesday, while the dollar firmed against the yen following the release of upbeat U.S. economic data overnight.

Crude oil prices held large gains on expectations of supply tightening once oil-producing nations implement a scheduled output cut.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%.

Australian stocks rode a rise in commodities to gain 1 percent. Indonesian shares added 1.9% while Shanghai shed 0.3%. Japan’s Nikkei rose 0.1%.

European shares were steady on Friday with the focus on lenders after Deutsche Bank and Credit Suisse settled mortgage securities fraud suits in the United States, and Italy’s Monte dei Paschi agreed to a bailout.

The STOXX Europe 600 was flat at its close and unchanged for the week, but the index still on track for its best month since October 2015.

US stocks had gained slightly on Tuesday, supported by upbeat consumer and housing data, with gains in technology shares lifting the Nasdaq Composite to a record close