|
Indian
Indices: Indian
equity benchmarks continued to trade in positive territory with small gains
in late afternoon session amid lack of clear direction from global markets.
Investors remained optimistic with the private report that a normal monsoon
this year should continue to revive rural demand and allow the Reserve Bank
of India (RBI) to cut rates by 0.25 percent in August. Some support also came
with the report that investments in domestic capital markets via
participatory notes (P-notes) have surprisingly surged to 4-month high of Rs
1.78 lakh crore at the end of March despite stringent norms put in place by
Sebi to curb inflow of illicit funds. Besides, select public sector banking
stocks were trading higher with the ICRA’s report that the RBI’s recent
revision in the prompt corrective action (PCA) framework is positive for
banking sector, given the operating and financial profile of some of the
banks. However, some caution prevailed over the ongoing fourth quarter
results season, coupled with weak rupee against dollar. The rupee was trading
at 64.62, 6 paise weaker from its previous close of 64.58 on Wednesday.
The BSE
Sensex is currently closed at 29422.39, up by 85.82 points or 0.29% after
trading in a range of 29341.68 and 29453.06. There were 17
stocks advancing against 13 stocks declining on the index. The broader
indices were trading in green; the BSE Mid cap index was up by 0.51%, while
Small cap index was up by 0.97%.
The
CNX Nifty is currently shut up at 9136.40, up by 32.90 points or 0.36% after
trading in a range of 9102.65 and 9143.90. There were 31 stocks advancing
against 20 stocks declining on the index.
|
|
MARKET INDICATORS
|
·
|
|
|
Top Movers (Group A)
|
|
|
|
Company
|
Cmp
|
% chg
|
|
Gainers
|
|
|
|
Adanitrans
|
81.35
|
7.04
|
|
Concor
|
1120.15
|
6.50
|
|
ABB
|
1380.55
|
6.14
|
|
Edelweiss
|
181.55
|
5.98
|
|
Losers
|
|
|
|
JPassociat
|
12.93
|
-7.58
|
|
Unitech
|
5.68
|
-5.96
|
|
Religare
|
218.35
|
-5.17
|
|
Cox & King
|
212.0
|
-4.13
|
|
|
|
|
|
|
|
|
INDEX
PERFORANCE
|
|
|
|
Index
|
Close
|
% Chg
|
|
Sensex
|
29,422.39
|
0.29
|
|
Nifty
|
9,136.40
|
0.36
|
|
|
|
|
|
|
|
Crporate Front:
India Ratings and Research (Ind-Ra), a leading rating agency, has
estimates that Rs 560 billion out of total debt of Rs 1,730 billion could be
refinanced at a lower borrowing cost across various infrastructure
sub-sectors in its portfolio till FY19. Also, there could be a shift in the type
of instruments issued for the purpose of raising capital in the sector
largely to the capital market instruments, namely bonds, from the
conventional term loans, said the rating agency.
|
|
|
Macroeconomic
front:The Reserve Bank of India on Thursday
fixed the reference rate of the rupee at 64.6364 against the US dollar and
69.3355 for the euro. The corresponding rates were 64.5443 and 69.1915 on
Wednesday. According to an RBI statement, the exchange rates for the pound
and the yen against the rupee were 82.8057 and 59.35 per 100 yens,
respectively, based on reference rates for the dollar and cross-currency
quotes at noon.
On
the global front:
On the global front, European markets were
trading in green as investors continued to weigh current political uncertainties
and digested fresh corporate earnings. Asian markets were trading mixed. Back
home, in scrip specific development, Network18 Media & Investments was
trading higher after the company received an in-principle approval to sell/
transfer/ otherwise dispose off or transfer BURRP to any other entity
including a related party/ getting a strategic investor.
|
|
|
Commodity
Updates:
|
Commodity Prices (MCX):
|
|
Commodity
|
Rs
|
% Chang
|
|
Gold
|
29225.00
|
-0.27
|
|
Silver
|
41862.00
|
-0.09
|
|
Crude oil
|
3322.00
|
-0.48
|
|
Natural Gas
|
206.40
|
-0.53
|
|
Alluminium
|
124.45
|
1.02
|
|
Copper
|
363.95
|
0.75
|
|
Top Sectoral& Stock Screening:The top gaining sectoral indices on the
BSE were Realty up by 1.87%, Consumer Durables up by 1.19%, Basic Materials
up by 1.12%, Consumer Disc up by 0.75% and Industrials up by 0.68%, while
Bankex down by 0.47%, Energy down by 0.42%, Telecom down by 0.37%, Oil &
Gas down by 0.32% and Healthcare down by 0.20% were the top losing indices on
BSE.
Top Nifty Movers:The top gainers on Nifty were Grasim
Industries up by 4.73%, Bank of Baroda up by 2.32%, Indiabulls Housing
Finance up by 2.15%, GAIL India up by 2.01% and HDFC up by 2.00%. On the flip
side, Yes Bank down by 3.98%, ICICI Bank down by 2.16%, Indian Oil
Corporation down by 1.99%, Tata Power down by 1.93% and Axis Bank down by
1.76% were the top losers.
|
|
Global Signals:
Asian markets
were trading mixed; Shanghai Composite increased 1.41 points or 0.04% to
3,172.10, FTSE Bursa Malaysia KLCI increased 3.62 points or 0.21% to
1,742.57, KOSPI Index increased 10.75 points or 0.5% to 2,149.15 and Hang
Seng increased 231.1 points or 0.97% to 24,056.98. On the flip side, Jakarta
Composite decreased 11.43 points or 0.2% to 5,595.09, Taiwan Weighted
decreased 7.25 points or 0.08% to 9,632.69 and Nikkei 225 decreased 1.71
points or 0.01% to 18,430.49.
All European
markets were trading in green; UK’s FTSE 100 increased 1.64 points or 0.02%
to 7,116.00, Germany’s DAX increased 2.54 points or 0.02% to 12,018.99 and
France’s CAC increased 30.92 points or 0.62% to 5,034.65.
|
|