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Indian Indices: Indian equity markets traded on a lackluster note throughout the day and ended the session with modest cut. The equity benchmarks continued its bullish run in early deals with Nifty touching a new peak of 9,900 mark for the first time ever. However, the markets, failed to hold on to their gains and entered into red terrain, breaching their respective crucial levels, as traders remained concerned with disappointing earnings by the Tata Consultancy Services, India’s largest software services exporter whose quarterly profit fell 10 percent sequentially, while revenues declined 0.2 percent. Separately, global IT research firm Gartner further lowered its 2017 IT spending growth estimate to 2.4 percent from the 2.7 percent earlier on worries on digitization. The firm had first predicted for a 3 percent growth in worldwide IT spends, which got revised down to 2.7 percent in January this year. The downward revision in growth estimates comes amid growing anxieties over the future of the IT industry, with concerns surrounding automation and rising protectionism that is being blamed for job losses in the country.

The BSE Sensex ended at 32000.11, down by 37.27 points or 0.12% after trading in a range of 31897.87 and 32109.75. There were 13 stocks advancing against 18 stocks declining on the index. The broader indices ended mixed; the BSE Mid cap index was up by 0.20%, while Small cap index was down by 0.39%.

The CNX Nifty ended at 9886.70, down by 5.00 points or 0.05% after trading in a range of 9845.45 and 9913.30. There were 23 stocks advancing against 28 stocks declining on the index.

Crporate Front: The government has extended the deadline for listed PSUs to achieve the minimum 25 per cent public shareholding norm by a year to August 2018, a finance ministry order said. The deadline has been extended to avoid bunching of share sale offers from state-owned firms and the government gets to decide on the opportune time to divest stake in any PSU, including the blue chip ones.

Macroeconomic front: The government has nominated Subhash Chandra Garg, Secretary in the Department of Economic Affairs in the Ministry of Finance, to replace Shaktikanta Das as the Director on the Central Board of Directors of the RBI.
The nomination came into effect from July 12, the Reserve Bank of India said in a statement here on Friday. Das superannuated as the Economic Affairs Secretary on May 31 after an extended term.

On the global front: On the global front, Asian markets closed mostly in green. Japan’s government raised its growth forecasts for private consumption, capital expenditure, and housing investment for the current fiscal year as domestic demand gathers strength. South Korea’s central bank held its policy rate at a record-low 1.25 percent for a 13th straight month, a widely expected decision as policy makers seek to boost subdued private consumption and keep any thoughts of tightening off the table for now

Commodity Updates:

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Healthcare up by 0.89%, Utilities up by 0.78%, Telecom up by 0.48%, Power up by 0.33% and PSU up by 0.28%, while Realty down by 0.73%, Capital Goods down by 0.64%, Industrials down by 0.63%, IT down by 0.56% and Metal down by 0.55% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were AurobindoPharma up by 5.06%, ACC up by 2.20%, GAIL India up by 1.94%, Kotak Mahindra Bank up by 1.73% and NTPC up by 1.37%. On the flip side, Indian Oil Corporation down by 2.26%, TCS down by 2.01%, Coal India down by 1.77%, Tata Motors - DVR down by 1.66% and Wipro down by 1.46% were the top losers.

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 0.15 points or 0.01% to 1,753.93, Shanghai Composite increased 4.25 points or 0.13% to 3,222.42, KOSPI Index increased 5.14 points or 0.21% to 2,414.63, Nikkei 225 increased 19.05 points or 0.09% to 20,118.86 and Hang Seng increased 43.06 points or 0.16% to 26,389.23. On the flip side, Jakarta Composite decreased 22.07 points or 0.38% to 5,807.97 and Taiwan Weighted decreased 16.24 points or 0.16% to 10,443.91.

European markets were mostly trading in red; UK’s FTSE 100 decreased 7.29 points or 0.1% to 7,406.15 and Germany’s DAX decreased 1.23 points or 0.01% to 12,640.10. On the flip side, France’s CAC increased 7.48 points or 0.14% to 5,242.88.