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Indian
Indices: Indian
equity benchmarks continued their record-setting spree in late afternoon
session, as investors were riding on firm macro data and expecting Reserve
Bank of India (RBI) to cut interest rates in its monetary policy review in
August. India’s retail inflation cooled down to 1.54% in June from 2.18% in
May, while industrial output grew 1.7% in May on a yearly basis after
expanding revised 2.8% in April. Sensex and Nifty were trading above the
crucial 32,000 and 9,850 levels respectively, with gains of over half a
percent. Some support also came with the industry body PHDCCI’s latest report
that share of India’s total exports to top 10 destinations worldwide has
increased to 51.6% in 2016-17, compared to 49% in 2013-14. The industry body
has highlighted that higher GST in this segment will directly promote the use
of chemical fertilisers, thereby leading to increase in green house gas
emissions. Apart from this, it noted that this will adversely impact public
health too.
The BSE
Sensex is currently closed at 32037.38, up by 232.56 points or 0.73% after trading in a range of 31892.63 and 32091.52. There
were 25 stocks advancing against 6 stocks declining on the index.
The broader
indices were trading in green; the BSE Mid cap index was up by 0.43%, while
Small cap index was up by 0.47%.
The
CNX Nifty is currently shut up at 9891.70, up by 75.60 points or 0.77% after
trading in a range of 9853.45 and 9889.95. There were 40 stocks advancing
against 11 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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Network 18
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57.60
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11.84
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Sintex
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34.15
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15.76
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Nationalum
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72.70
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7.23
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KEC
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295.15
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6.26
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Losers
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Gvkpil
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7.29
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-4.33
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Prestige
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273.00
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-3.63
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Shriramcit
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2230.00
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-3.18
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Hexaware
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245.50
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-2.77
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INDEX
PERFORANCE
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Index
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Close
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% Chg
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Sensex
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32,037.38
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0.73
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Nifty
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9,891.70
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0.77
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Crporate Front: The Union
Minister of State for Finance and Corporate Affairs, Arjun Ram Meghwal said
that India has had a long history of social responsibility. He underlined the
need for introducing innovations to be able to effectively contribute to
social development and nation building through CSR projects.
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Macroeconomic front: Global IT research firm Gartner today
further lowered its 2017 IT spending growth estimate to 2.4 per cent from the
2.7 per cent earlier on worries on digitisation. The firm had first predicted
for a 3 per cent growth in worldwide IT spends, which got revised down to 2.7
per cent 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.
On
the global front: On the global
front, European markets were trading in green, as investors digested new
earnings reports and looked ahead to more comments from US Federal Reserve
Chair Janet Yellen who will testify to Congress for a second day. Asian
markets were also trading in green. Back home, in scrip specific development,
Chartered Logistics traded jubilantly after the company bagged an order worth
Rs 24 crore from ONGC Petro-additions to be executed in a period of two
years.
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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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27914.00
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0.23
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Silver
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37039.00
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0.19
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Crude oil
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2927.00
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-0.75
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Natural Gas
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192.90
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0.21
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Alluminium
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123.45
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1.86
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Copper
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384.60
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0.35
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the
BSE were FMCG up by 1.72%, Capital Goods up by 1.08%, Bankex up by 0.95%,
Power up by 0.76% and Utilities up by 0.62%, while Oil & Gas down by
0.16% and Metal down by 0.08% were the only losing indices on BSE.
Top Nifty Movers:The top gainers on Nifty were ITC up by
3.06%, Yes Bank up by 2.93%, Indiabulls Housing Finance up by 1.98%, ICICI
Bank up by 1.86% and HDFC up by 1.48%. On the flip side, Indian Oil
Corporation down by 3.11%, BhartiInfratel down by 2.21%, ONGC down by 2.00%,
Hindalco down by 0.97% and Eicher Motors down by 0.58% were the top losers.
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Global Signals:
Asian markets
were trading mostly in green; Nikkei 225 increased 1.43 points or 0.01% to
20,099.81, KOSPI Index increased 17.72 points or 0.74% to 2,409.49, Shanghai
Composite increased 20.62 points or 0.64% to 3,218.16, Taiwan Weighted
increased 39.47 points or 0.38% to 10,460.15 and Hang Seng increased 302.53
points or 1.16% to 26,346.17. On the flip side, FTSE Bursa Malaysia KLCI
decreased 3.69 points or 0.21% to 1,753.55 and Jakarta Composite decreased
1.31 points or 0.02% to 5,817.82.
European
markets were trading mostly in green; France’s CAC increased 13.72 points or
0.26% to 5,235.85 and Germany’s DAX was up by 18.36 points or 0.15% to
12,644.94. On the flip side, UK’s FTSE 100 decreased 1.46 points or 0.02% to
7,415.47.
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