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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.
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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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Navkarcorp
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208.40
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15.07
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MCleodrus
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179.85
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7.44
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Jindalstel
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132.70
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6.76
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Adaniports
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44.25
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5.23
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Losers
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Justdial
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533.70
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-3.89
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Deltacorp
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184.95
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-8.71
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Muthootfin
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380.95
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-3.80
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GSFC
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121.85
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-3.45
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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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29,927.34
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-0.16
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Nifty
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9,261.95
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-0.03
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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.
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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.
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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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28850.00
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0.16
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Silver
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42273.00
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0.04
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Crude oil
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3324.00
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-0.24
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Natural Gas
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211.70
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-0.66
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Alluminium
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127.30
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-0.16
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Copper
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383.60
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-0.66
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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.
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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.
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