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Indian
Indices: The
Indian equity benchmarks continued their sluggish trade in late afternoon
session, tracking bearish global cues and heavy selling pressure in Consumer
Durables, Realty and Basic Materials stocks. Investors remained cautious over
the ongoing two-day Good and Services Tax (GST) Council's meet, which will
finalise tax slabs on services and commodities in the country. Some concerns
also came with India Ratings and Research’s report that corporate and small
& medium enterprise (SME) loans aggregating to Rs 2.60 lakh crore, which
is 3.2 percent of total bank credit, could potentially be recognized as
stressed loans by FY19. It further noted that Indian banks are sitting on
unrecognized stressed loans worth of Rs 7.7 lakh crore. It also pegs stressed
corporate and SME debt at 22 percent of total bank credit. Meanwhile, the
railways will launch shortly its redesigned e-tendering system with more
user-friendly new features to facilitate digital participation of over 60,000
vendors.
The BSE
Sensex is currently closed at 30434.79, down by 223.98 points or 0.73% after
trading in a range of 30436.56 and 30575.83. There were 10 stocks advancing against 19 stocks declining on the index, while 1 stock
remained unchanged.
The broader
indices were trading in red; the BSE Mid cap index was down by 1.25%, while
Small cap index was down by 0.94%.
The CNX Nifty
is currently shut down at 9429.45, down by 96.30 points or 1.01% after
trading in a range of 9445.25 and 9489.10. There were 11 stocks advancing
against 40 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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JPassociat
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12.99
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4.42
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Wipro
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523.60
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3.47
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Cumminsin
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1052.55
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3.45
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TCS
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2534.10
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3.38
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Losers
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CESC
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829.80
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-15.10
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IDBI
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70.00
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-7.77
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JSWSteel
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191.40
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-7.38
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BhartFin
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725.80
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-6.91
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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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30,434.79
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-0.73
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Nifty
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9,429.45
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-1.01
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Crporate Front:
Regrob, a top real estate brokerage company in India, announced the
launch of its 21st branch in Vijayawada Andhra Pradesh. "With every new
branch, the roots of Regrob are growing deeper and stronger in the
industry", said CEO Vivek Raman.Rated as the easiest state to do
business, Andhara Pradesh is now a new home for Regrob, a company with the
second highest market share in the technology based real-estate brokerage
sector.
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Macroeconomic front:
The Union Cabinet has approved the signing and ratifying of an agreement
between India and Tajikistan on cooperation and sharing of intelligence in
the area of Customs. The agreement will help in availability of information
for the prevention and investigation of Customs offences, an official
statement said.
On
the global front:
On the global front, European markets were
trading in red as mounting political uncertainty in the U.S. exacerbated
concerns among investors as to whether President Donald Trump would be able
to deliver on key pro-growth policies. Asian markets were also trading in
red. Back home, in scrip specific development, Hindustan Copper traded
jubilantly after the company received an approval on fund raising plan.
The
board has recommended issues of fresh equity shares through Further Public
Offer (FPO) or Institutional Placement Programme (IIP) or Qualified
Institutional Placement (QIP) or a combination of the routes as per extend
guidelines, to a extend of 9.25 crore equity shares (10% of existing paid up
equity capital).
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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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28895.00
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0.96
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Silver
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39176.00
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-0.06
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Crude oil
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3128.00
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-0.89
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Natural Gas
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206.90
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1.07
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Alluminium
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123.70
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0.0
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Copper
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359.10
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-1.12
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Top Sectoral& Stock Screening:The top gainers on the Sensex were TCS up
by 3.47%, Wipro up by 2.89%, Lupin up by 1.54%, Infosys up by 0.98% and ICICI
Bank up by 0.90%. On the flip side, Mahindra & Mahindra down by 1.76%,
Tata Motors down by 1.69%, Larsen & Toubro down by 1.68%, Hindustan
Unilever down by 1.41% and Reliance Industries down by 1.29% were the top
losers.
Top Nifty Movers:The top gainers on Nifty were TCS up by
3.21%, Wipro up by 2.20%, Lupin up by 1.37%, Adani Ports & SEZ up by
1.10% and Infosys up by 0.94%. On the flip side, Yes Bank down by 3.06%,
Ultratech Cement down by 2.71%, BhartiInfratel down by 2.47%, Hindalco down
by 2.44% and Grasim Industries down by 2.42% were the top losers.
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Global Signals:
Asian markets
were trading mostly in red; Nikkei 225 decreased 261.02 points or 1.32% to
19,553.86, Hang Seng decreased 157.11 points or 0.62% to 25,136.52, Taiwan
Weighted decreased 44.22 points or 0.44% to 9,969.45, Shanghai Composite
decreased 14.3 points or 0.46% to 3,090.14, FTSE Bursa Malaysia KLCI
decreased 10.91 points or 0.61% to 1,764.74 and KOSPI Index decreased 6.26
points or 0.27% to 2,286.82. On the flip side, Jakarta Composite increased
19.3 points or 0.34% to 5,634.79.
All the
European markets were trading in red; Germany’s DAX decreased 67.72 points or
0.54% to 12,563.89, UK’s FTSE 100 decreased 59.09 points or 0.79% to 7,444.38
and France’s CAC decreased 34.33 points or 0.65% to 5,283.56.
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