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Indian
Indices: Amid
firm global cues, Indian equity benchmarks maintained their early gains in
late afternoon session on account of better-than-expected GDP data for the
third quarter of current fiscal. Domestic sentiments were buoyed as Nikkei
India Manufacturing Purchasing Managers’ Index rose to 50.7 in February from
50.4 in January. Sentiments also got some support with Economic Affairs
Secretary ShaktikantaDas’ statement that the positive effects of
demonetisation will be visible from April and the completion of
remonetisation process will drive consumption going forward. However, upper
side remained capped with a report that the Centre’s fiscal and revenue
deficits between April and January exceeded the Budget target for 2016-17.
The fiscal deficit shot up to 5,64,192crore, amounting to 105.7 per cent of
the Budget estimate, between April 2016 and January 2017.
The BSE
Sensex is currently closed at 28,839.79, down by -144.70 points or -0.50%
after trading in a range of 28984.07 and 29145.62. There were 15 stocks
advancing against 14 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 0.70%, while Small cap index was down by 0.72%.
The
CNX Nifty is currently shutdown at 8899.75, down by 46.05 points or 0.51%
after trading in a range of 8898.60 and 8950.25. There were 29 stocks
advancing against 22 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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Nationalum
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75.70
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5.87
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Aplltd
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606.00
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5.74
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Jublfood
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1036.00
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3.27
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Havells
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420.30
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2.56
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Losers
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DLF
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141.10
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-8.11
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Biocon
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1033.85
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-7.35
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JPAssociat
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14.95
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-6.56
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Network18
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37.15
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-5.83
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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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28,839.79
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-0.50
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Nifty
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8,899.75
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-0.51
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Crporate Front: Global credit rating agency Moody's Investors Service on Thursday said
the performance of Indian auto-backed securities (ABS) is not expected to
deteriorate post March 2017.In a statement, Moody's said after worsening
immediately after demonetisation last November the performance of rated
Indian ABS levelled off in January 2017.
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Macroeconomic front: Moody's Investors Service, the world’s leading
rating agency, has said the performance of rated Indian auto asset backed
securities (ABS) leveled off in January 2017 after worsening immediately
after demonetization. The agency expects auto ABS performance to not
deteriorate beyond March 2017, as the economy recovers, and oil prices remain
range-bound and budget policy initiatives provide support. Signs of
stabilization appeared in January 2017, with collection efficiency rising
half a percentage point to 93 per cent from December 2016.
On
the global front:
On global front, European markets were trading
mixed as investors took a breather after a strong rally on Wall Street and
focused on earnings and political instability. Asian markets were trading in
green tracking the strong gains overnight on Wall Street after U.S. President
Donald Trump's address to a joint session of Congress. Back home, in scrip
specific development, BL Kashyap& Sons traded higher after the company
secured new orders worth approximately Rs 431 crore.
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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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29358.00
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-0.24
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Silver
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43350.00
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-0.13
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Crude oil
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3573.00
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-0.86
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Natural Gas
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187.10
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0.54
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Alluminium
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129.50
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-0.27
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Copper
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403.30
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-0.16
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the
BSE were Auto up by 0.82%, Industrials up by 0.45%, Capital Goods up by
0.40%, Metal up by 0.18% and IT up by 0.11%, while Realty down by 2.88%,
Telecom down by 1.41%, Healthcare down by 0.93%, Utilities down by 0.89% and
Power down by 0.88% were the top losing indices on BSE.
Top Nifty Movers:The top gainers on Nifty were Tata Motors
up by 3.22%, Tata Motors - DVR up by 3.19%, Ultratech Cement up by 2.81%,
Bajaj Auto up by 2.13% and Hero MotoCorp up by 1.97%. On the flip side, Idea
Cellular down by 2.74%, BPCL down by 2.36%, Sun Pharma down by 2.34%,
BhartiAirtel down by 1.96% and Yes Bank down by 1.51%
were the top losers.
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Global Signals:
Asian markets
were trading mostly in green; KOSPI Index increased 11.01 points or 0.53% to
2,102.65, Taiwan Weighted increased 17.02 points or 0.18% to 9,691.80, FTSE
Bursa Malaysia KLCI increased 18.47 points or 1.09% to 1,716.16, Jakarta
Composite increased 57.03 points or 1.06% to 5,420.09 and Nikkei 225 increased
171.26 points or 0.88% to 19,564.80. On the flip side, Hang Seng decreased
48.42 points or 0.2% to 23,728.07 and Shanghai Composite decreased 16.9
points or 0.52% to 3,230.03.
European
Markets were trading mixed; France’s CAC increased 1.71 points or 0.03% to
4,962.54 and UK’s FTSE 100 increased 6.7 points or 0.09% to 7,389.60. On the
flip side, Germany’s DAX decreased 17.85 points or 0.15% to 12,049.34.
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