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Indian Indices: After paring some of their gains in early noon session, Indian equity benchmarks showed some recovery in late afternoon session and continued their trade in green with gain of around quarter of a percent. Sentiments remained upbeat as the Goods and Services Tax (GST) Council cleared all legislations required for marking a big step forward in India's plans for a countrywide rollout of the new tax regime from July 1. 

Traders took some encouragement with the Economic Affairs Secretary ShaktikantaDas’s statement that the Indian economy is strong enough to absorb the impact of the US Federal Reserve’s interest rate hike. Meanwhile, global rating agency Crisil blamed divergent growth dataprints for WPI-CPI variance. It said the main reason for the faster growth in manufacturing GDP is that growth in the value of inputs used for production has been slower than the value of the final output.

The BSE Sensex is currently closed at 29648.99, up by 63.14 points or 0.21% after trading in a range of 29627.62 and 29824.62. There were 11 stocks advancing against 18 stocks declining on the index, while 1 stock remained unchanged.

The broader indices were trading mixed; the BSE Mid cap index was down by 0.20%, while Small cap index was up by 0.01%.

The CNX Nifty is currently shut at 9160.05, up by 6.35 points or 0.07% after trading in a range of 9147.60 and 9218.40. There were 17 stocks advancing against 34 stocks declining on the index.

Crporate Front: The total coal imports have been consistently reducing over the last three years, said PiyushGoyal, union minister of state (I/C) for coal, power, new & renewable energy and mines in a written reply in LokSabha. The Minister said in a statement that, “In 2016-17, as on 31.12.2016, the figure has reduced to 144.87 MT as compared to 146.12 MT for the same period in 2015-16.

Macroeconomic front: HDFC Chairman Deepak Parekh on Friday said the Goods and Services Tax (GST) regime can push up the country's growth by as much as 150-200 basis points (bps)."If we have a good GST system, lot of experts say GDP could go up by 150-200 bps," Parekh said at the India Today Conclave here.

On the global front: On the global front, European markets were trading in red as they took a bit of a breather after hitting record highs during Thursday's trading and investors also awaited euro zone trade figures and a G20 finance ministers meeting in Germany. However, Asian markets were trading in green. Back home, in scrip specific development, Trent traded higher after the company redeemed Commercial Paper amounting Rs 50 crore on March 14, 2017. The said Commercial Papers were issued on September 15, 2016.

Commodity Updates:

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were FMCG up by 3.01%, IT up by 0.66%, TECK up by 0.16% and Realty up by 0.13%, while Telecom down by 2.07%, PSU down by 0.69%, Bankex down by 0.51%, Capital Goods down by 0.49% and Utilities down by 0.46% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were ITC up by 6.23%, Wipro up by 1.59%, Tata Power up by 1.52%, Infosys up by 1.39% and HCL Tech up by 1.30%. On the flip side, Idea Cellular down by 3.50%, BhartiAirtel down by 2.73%, Tata Motors - DVR down by 1.96%, Bank of Baroda down by 1.90% and SBI down by 1.58% were the top losers.

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 11.15 points or 0.64% to 1,748.29, KOSPI Index increased 14.5 points or 0.67% to 2,164.58, Hang Seng increased 21.65 points or 0.09% to 24,309.93 and Taiwan Weighted increased 70.86 points or 0.72% to 9,908.69. On the flip side, Nikkei 225 decreased 68.55 points or 0.35% to 19,521.59, Shanghai Composite decreased 31.49 points or 0.96% to 3,237.45 and Jakarta Composite decreased 16.19 points or 0.29% to 5,502.05.

European markets were trading mostly in red; Germany’s DAX decreased 51.36 points or 0.43% to 12,031.82 and France’s CAC decreased 5.06 points or 0.1% to 5,008.32. On the flip side, UK’s FTSE 100 increased 5.12 points or 0.07% to 7,421.07.