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Indian
Indices: Indian
equity benchmarks held firm trade in late afternoon session on optimism about
a normal monsoon and healthy buying in Realty, Healthcare and Power stocks.
Traders took encouragement with Moody's Investors Service’s latest report
that a number of wide-ranging reforms initiated by the government would
gradually ease the country's high debt burden, if implemented successfully.
The agency also noted that demonetization & financial inclusion efforts
will help broaden the tax base, while expenditure reforms will enhance
spending efficiency and the Aadhaar identification system can help reduce
fiscal leakage. Some support also came with NITI Aayog vice chairman
ArvindPanagariya’s statement that India's 'fragile economy' has been turned
around in the last three years and a sustained growth of 8 percent would now
be possible within a few years. Meanwhile, markets regulator SEBI has
launched an online registration mechanism for mutual funds with effect from
June 1 to improve ease of doing business.
The BSE
Sensex is currently closed at 31,273.29, up by 135.70 points or 0.44% after
trading in a range of 31190.40 and 31332.56. There were 20 stocks advancing
against 10 stocks declining on the index. The broader indices were trading in
green; the BSE Mid cap index was up by 0.71%, while Small cap index was up by
0.60%.
The
CNX Nifty is currently shut up at 9653.50, up by 37.40 points or 0.39% after
trading in a range of 9637.45 and 9673.50. There were
35 stocks advancing against 16 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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GVKPIL
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5.94
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14.45
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GMRINfra
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17.00
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13.71
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M&MFin
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388.95
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7.59
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Bayercrop
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4981.00
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9.25
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Losers
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Sintex
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25.40
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-3.79
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Videoind
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36.75
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-4.92
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Intellect
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120.60
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-2.94
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GDL
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243.00
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-2.86
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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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31,273.29
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0.44
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Nifty
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9,653.50
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0.39
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Crporate Front: In a view to
generate awareness and educate retail partners around GST implications,
ASSOCHAM and the leading consumer electronics and home appliances company, Videocon,
on Thursday organized the first-of-its-kind GST Summit for traders. The
daylong ASSOCHAM VIDEOCON GST Summit for traders witnessed deep discussions
around GST, addressing retailers’ queries, and offering them a clearer
understanding of the GST concept.
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Macroeconomic front: The Union Minister for Finance, Defence and
Corporate Affairs, ArunJaitley will chair the 15th Meeting of the GST Council
scheduled to be held on Saturday, June 03, 2017 at VigyanBhavan in the
national capital, according to a statement released by the ministry of
finance. The ministry said that this meeting is important because it is
likely to finalize the rates of tax and cess to be levied on the commodities
remaining after the fitment exercise in the 14th GST Council Meeting.
On
the global front:
On the global front, European markets were
trading mixed, as political uncertainty took center stage once again. Asian
markets were trading in red. Back home, in scrip specific development, JaiPrakash
Associates jumped higher after the company executed a definitive agreement
with Orient Cement (OCL), a part of CK Birla Group. The agreement is for
acquisition by OCL of company's 74% equity stake in BhilaiJaypee Cement
(BJCL) based on an enterprise value of Rs 1,450 crore on a cash free and debt
free basis.
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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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28650.00
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-0.01
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Silver
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39700.00
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-0.28
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Crude oil
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3024.00
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-4.27
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Natural Gas
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193.70
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-0.31
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Alluminium
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123.45
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-0.6
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Copper
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363.10
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-1.53
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the
BSE were Realty up by 1.39%, Healthcare up by 1.21%, Power up by 0.98%,
Consumer Durables up by 0.95% and Telecom up by 0.90%, while Oil & Gas
down by 0.31%, Energy down by 0.14% and Metal down by 0.13% were the top
losing indices on BSE.
Top Nifty Movers:The top gainers on Nifty were Cipla up by
3.25%, Hero MotoCorp up by 3.12%, Adani Ports & SEZ up by 2.73%, Yes Bank
up by 2.55% and HDFC up by 1.78%. On the flip side, GAIL India down by 2.12%,
Vedanta down by 1.62%, BPCL down by 1.60%, Indiabulls Housing Finance down by
1.24% and Hindustan Unilever down by 1.13% were the top losers.
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Global Signals:
Asian markets
were trading mostly in green; Shanghai Composite increased 2.92 points or
0.09% to 3,105.54, FTSE Bursa Malaysia KLCI increased 13.03 points or 0.74%
to 1,776.14, KOSPI Index increased 27.11 points or 1.16% to 2,371.72, Taiwan
Weighted increased 65.11 points or 0.65% to 10,152.53, Hang Seng increased
114.83 points or 0.44% to 25,924.05 and Nikkei 225 increased 317.25 points or
1.6% to 20,177.28. On the flip side, Jakarta Composite decreased 3.69 points
or 0.06% to 5,734.46.
All European
markets were trading in green; UK’s FTSE 100 increased 25.82 points or 0.34%
to 7,569.59, France’s CAC increased 33.56 points or 0.63% to 5,352.23 and
Germany’s DAX increased 116.77 points or 0.92% to 12,781.69.
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