Blog for Stock tips, Equity tips, Commodity tips, Forex tips: Sharetipsinfo.com

Indian Indices:  Indian equity benchmarks pared some of their early losses in late afternoon session but continued to trade in negative territory. The markets trimmed losses with the report that Reserve Bank of India (RBI) kept policy interest rates unchanged at 6.25% for a third straight meeting today, shifting focus to ways to mop up excess cash in the banking system that threatens to stoke inflation. It however raised the reverse repo rate from 5.75% to 6%. Some support also came in with the report that services sector in India registered second straight month of growth in March, driven by strong rise in new work orders amid softer inflationary pressures. The Nikkei India Services Purchasing Managers' Index (PMI) rose to 51.5 in March from 50.3 in February. However, traders remained cautions with global credit rating agency Crisil’s report that CPI inflation is likely to average higher at 5 percent in the current fiscal on expectations of increasing pressure on food prices as well as uptick in global oil and commodity rates.

The BSE Sensex is currently closed at 29927.34, down by 46.90 points or 0.16% after trading in a range of 29817.59 and 29949.60. There were 12 stocks advancing against 18 stocks declining on the index.The broader indices were trading mixed; the BSE Mid cap index was up by 0.11%, while Small cap index down by 0.13%.

The CNX Nifty is currently shut down at 9261.95, down by -3.20 points or 0.03% after trading in a range of 9215.40 and 9264.95. There were 31 stocks advancing against 20 stocks declining on the index.

Crporate Front: Ministry of communications & information technology has said that Department of Telecommunications (DoT) has been taking various initiatives to address the problem of call drops in mobile networks. The Telecom Service Providers (TSPs) have installed about 2,12,917 additional BTSs (Base Transceiver Stations) across the country during the period from June 2016 to February 2017. “From the feedback it has been observed that the problem of call drops is more severe indoors, said Ministry of communications & information technology in a statement.

Macroeconomic front: The Reserve Bank of India (RBI) will focus on draining excess liquidity from the system in the new fiscal year, Governor Urjit Patel said after the monetary policy meeting on Thursday.The RBI kept its repo rate unchanged at 6.25 percent for a third consecutive policy meeting on Thursday as it continues to guard against a potential flare-up in inflation and an uncertain global economic environment.

On the global front: On the global front, European markets were trading in red following indications by the U.S. Federal Reserve that it wants to pare back its balance sheet. Asian markets were trading in red. Back home, in scrip specific development, Force Motors edged higher after the company reported the production, sales and export of the products manufactured during the month of March 2017. The company’s production of Small Commercial Vehicles (SCV) & Light Commercial Vehicles (LCV) stood at 1,822 units and Utility Vehicles (UV), Sports Utility Vehicles (SUV) & Tractors stood at 1,387 units.

Commodity Updates:

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Realty up by 2.46%, Energy up by 1.00%, Oil & Gas up by 0.78%, Power up by 0.34% and PSU up by 0.31%, while Consumer Durables down by 0.97%, FMCG down by 0.80%, Healthcare down by 0.66%, Telecom down by 0.55% and Metal down by 0.54% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Reliance Industries up by 2.09%, Bajaj Auto up by 1.30%, IndusInd Bank up by 1.22%, Indian Oil Corp. up by 0.92% and Zee Entertainment up by 0.91%. On the flip side, Hindalco down by 2.57%, ITC down by 1.77%, Coal India down by 1.31%, AurobindoPharma down by 1.30% and Adani Ports & SEZ down by 1.28% were the top losers.

Global Signals:

Asian markets were trading mostly in red; Nikkei 225 decreased 264.21 points or 1.4% to 18,597.06, Hang Seng decreased 127.08 points or 0.52% to 24,273.72, Taiwan Weighted decreased 51.68 points or 0.52% to 9,897.80, KOSPI Index decreased 8.1 points or 0.37% to 2,152.75 and FTSE Bursa Malaysia KLCI decreased 5.11 points or 0.29% to 1,739.56. On the flip side, Jakarta Composite increased 3.26 points or 0.06% to 5,680.24 and Shanghai Composite increased 10.7 points or 0.33% to 3,281.01.All European markets were in red; Germany’s DAX decreased 50.26 points or 0.41% to 12,167.28, UK’s FTSE 100 decreased 40.92 points or 0.56% to 7,290.76 and France’s CAC decreased 9.25 points or 0.18% to 5,082.60.