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Indian Indices: After paring
some of their gains in early noon session, Indian equity benchmarks showed
some recovery in late afternoon session and continued their trade in green
with gain of around quarter of a percent. Sentiments remained upbeat as the
Goods and Services Tax (GST) Council cleared all legislations required for
marking a big step forward in India's plans for a countrywide rollout of the
new tax regime from July 1. Traders took some encouragement with the Economic
Affairs Secretary ShaktikantaDas’s statement that the Indian economy is
strong enough to absorb the impact of the US Federal Reserve’s interest rate
hike. Meanwhile, global rating agency Crisil blamed divergent growth
dataprints for WPI-CPI variance. It said the main reason for the faster
growth in manufacturing GDP is that growth in the value of inputs used for
production has been slower than the value of the final output.
The BSE
Sensex is currently closed at 29648.99, up by 63.14 points or 0.21% after trading in a range of 29627.62 and 29824.62. There
were 11 stocks advancing against 18 stocks declining on the index, while 1
stock remained unchanged.
The broader
indices were trading mixed; the BSE Mid cap index was down by 0.20%, while
Small cap index was up by 0.01%.
The
CNX Nifty is currently shut at 9160.05, up by 6.35 points or 0.07% after
trading in a range of 9147.60 and 9218.40. There were 17 stocks advancing
against 34 stocks declining on the index.
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MARKET INDICATORS
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Top Movers (Group A)
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Company
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Cmp
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% chg
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Gainers
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M&M Fin
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311.25
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5.71
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Sadbhav
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307.00
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5.48
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RTNPower
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7.59
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5.27
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Torntpharm
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1447.55
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5.48
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Losers
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JPAssociat
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14.00
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-5.72
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IDEA
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107.90
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-4.47
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CRISIL
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1889.70
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-4.07
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Wabag
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601.15
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-3.12
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INDEX
PERFORMANCE
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Index
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Close
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% Chg
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Sensex
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29,648.99
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0.21
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Nifty
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9,160.05
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0.07
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Crporate Front: The total
coal imports have been consistently reducing over the last three years, said
PiyushGoyal, union minister of state (I/C) for coal, power, new &
renewable energy and mines in a written reply in LokSabha. The Minister said
in a statement that, “In 2016-17, as on 31.12.2016, the figure has reduced to
144.87 MT as compared to 146.12 MT for the same period in 2015-16.
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Macroeconomic front: HDFC Chairman Deepak Parekh on Friday said the Goods
and Services Tax (GST) regime can push up the country's growth by as much as
150-200 basis points (bps)."If we have a good GST system, lot of experts
say GDP could go up by 150-200 bps," Parekh said at the India Today
Conclave here.
On
the global front: On the global front, European markets were trading
in red as they took a bit of a breather after hitting record highs during
Thursday's trading and investors also awaited euro zone trade figures and a
G20 finance ministers meeting in Germany. However, Asian markets were trading
in green. Back home, in scrip specific development, Trent traded higher after
the company redeemed Commercial Paper amounting Rs 50 crore on March 14,
2017. The said Commercial Papers were issued on September 15, 2016.
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Commodity
Updates:
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Commodity Prices (MCX):
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Commodity
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Rs
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% Chang
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Gold
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28509.00
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0.34
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Silver
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40873.00
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0.68
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Crude oil
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3208.00
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0.5
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Natural Gas
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190.20
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-0.94
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Alluminium
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124.60
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0.61
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Copper
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389.45
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0.44
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Top
Sectoral& Stock Screening:The top gaining sectoral indices
on the BSE were FMCG up by 3.01%, IT up by 0.66%, TECK up by 0.16% and Realty
up by 0.13%, while Telecom down by 2.07%, PSU down by 0.69%, Bankex down by
0.51%, Capital Goods down by 0.49% and Utilities down by 0.46% were the top
losing indices on BSE.
Top Nifty Movers:The top gainers on Nifty were ITC up by
6.23%, Wipro up by 1.59%, Tata Power up by 1.52%, Infosys up by 1.39% and HCL
Tech up by 1.30%. On the flip side, Idea Cellular down by 3.50%, BhartiAirtel
down by 2.73%, Tata Motors - DVR down by 1.96%, Bank of Baroda down by 1.90%
and SBI down by 1.58% were the top losers.
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Global Signals:
Asian markets
were trading mostly in green; FTSE Bursa Malaysia KLCI increased 11.15 points
or 0.64% to 1,748.29, KOSPI Index increased 14.5 points or 0.67% to 2,164.58,
Hang Seng increased 21.65 points or 0.09% to 24,309.93 and Taiwan Weighted
increased 70.86 points or 0.72% to 9,908.69. On the flip side, Nikkei 225
decreased 68.55 points or 0.35% to 19,521.59, Shanghai Composite decreased
31.49 points or 0.96% to 3,237.45 and Jakarta Composite decreased 16.19
points or 0.29% to 5,502.05.
European
markets were trading mostly in red; Germany’s DAX decreased 51.36 points or
0.43% to 12,031.82 and France’s CAC decreased 5.06 points or 0.1% to
5,008.32. On the flip side, UK’s FTSE 100 increased 5.12 points or 0.07% to
7,421.07.
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