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Indian
Indices: Indian
equity markets traded on a firm note throughout the day and ended the session
with gain of around one percent. Optimism over quarterly corporate earnings
coupled with covering-up of short positions lifted the index. Stock market
investors’ wealth today touched the $2 trillion mark, helped by a rally in
the BSE benchmark Sensex, which soared to an all-time high. Trading
activities resumed at the National Stock Exchange (NSE) in the afternoon
today after the system faced technical glitches in the morning that led to
trade disruptions. The Department of Economic Affairs has asked the NSE to
submit a report on the technical glitch. The equity benchmarks opened higher
in early deals, with both Sensex and Nifty touched their all-time high at
open tracking positive cues from Asian stocks. Meanwhile, Union minister
Mukhtar Abbas Naqvi said that the new tax regime would prove to be a game
changer for the country’s economy, terming the GST a revolutionary reform
taken in the interest of common people and small traders. The introduction of
the new tax system by the NarendraModi Government was the biggest economic
reform since the Independence.
The BSE
Sensex ended at 31668.13, up by 307.50 points or 0.98% after trading in a
range of 31471.41 and 31768.39. There were 26 stocks advancing against 5
stocks declining on the index. The broader indices ended in green; the BSE
Mid cap index was up by 0.65%, while Small cap index was up by 0.43%
The
CNX Nifty ended at 9762.30, up by 96.50 points or 1.00% after trading in a
range of 9646.45 and 9782.15. There were 44 stocks advancing against 7 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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Divislab
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734.15
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7.94
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RCOm
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24.40
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7.25
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PNB
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153.25
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6.31
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Tataglobal
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166.45
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5.65
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Losers
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Religare
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127.90
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-10.21
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IDFC
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56.50
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-5.68
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Biocon
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321.25
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-4.69
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GDL
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273.60
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-3.73
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INDEX
PERFORANCE
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Index
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Close
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% Chg
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Sensex
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31,715.64
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1.13
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Nifty
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9,763.05
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1.01
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Crporate Front:
India's steel
consumption grew by 4.6 per cent to nearly 21 million tonne in the first
quarter of the current fiscal over the same period in 2016 while the
country's steel exports jumped by nearly 66 per cent in the April-June
period, a Ministry report said.
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Macroeconomic front: Union Minister of State for
Development of North Eastern Region (DoNER), MoS PMO, Jitendra Singh has said
that GST has a special significance for Jammu & Kashmir and the eight
States of the North-East Region. The same also applies to States like
Uttarakhand and Himachal Pradesh, he said. Briefing the media in Nainital on
Sunday, Jitendra Singh said the GST promises to provide a level-playing field
to all the States of the Indian Union.
On
the global front:
On the global front, Asian markets closed mostly
in red. The Bank of Japan offered to buy an unlimited amount of JGBs on
Friday, as it sought to put a lid on domestic interest rates pushed higher by
the broad sell-off in developed market bonds. Its aggressive bond buying
operations sent most Japanese government bond yields lower and weakened the yen.
European markets were trading in red as investors look out for fresh economic
data, a G-20 meeting in Hamburg and continue to mull the possible end of
monetary stimulus from central banks.
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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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27651.00
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-0.48
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Silver
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35653.00
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-1.6
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Crude oil
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2831.00
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-1.12
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Natural Gas
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186.80
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0.86
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Alluminium
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123.80
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-0.52
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Copper
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378.10
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-0.53
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the
BSE were Telecom up by 3.58%, IT up by 2.86%, TECK up by 2.84%, PSU up by
1.65% and Metal up by 1.35%, while FMCG down by 0.03% was the sole loser on
BSE.
Top Nifty Movers:The top gainers on Nifty were
BhartiAirtel up by 4.95%, TCS up by 4.42%, Wipro up by 4.19%, Bank of Baroda
up by 3.77% and Lupin up by 2.93%. On the flip side, Mahindra & Mahindra
down by 0.66%, Zee Entertainment down by 0.46%, ITC down by 0.39%, Kotak
Mahindra Bank down by 0.21% and Hindustan Unilever down by 0.15% were the top
losers. (Provisional)
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Global Signals:
Asian markets
were trading mixed; KOSPI Index increased 2.23 points or 0.09% to 2,382.10,
Nikkei 225 increased 151.89 points or 0.76% to 20,080.98 and Hang Seng
increased 159.21 points or 0.63% to 25,500.06. On the flip side, Jakarta
Composite decreased 32.77 points or 0.56% to 5,782.02, Taiwan Weighted
decreased 7.34 points or 0.07% to 10,289.91, Shanghai Composite decreased
5.32 points or 0.17% to 3,212.63 and FTSE Bursa Malaysia KLCI decreased 4.71
points or 0.27% to 1,755.22.
All European
markets were trading in green; France’s CAC increased 8.92 points or 0.17% to
5,154.08, UK’s FTSE 100 inched up by 17.18 points or
0.23% to 7,368.10 and Germany’s DAX was up by 64.26 points or 0.52% to
12,452.94.
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