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Indian
Indices: Indian
equity benchmarks continue to maintain the upbeat trend in late afternoon
session as positive global cues along with strong rupee against dollar,
buoyed investors’ sentiments. Traders remained optimistic with the Care
ratings’ report that it expects GDP growth to accelerate to 8 percent next
financial year as against 7.1 percent in this year as per the latest CSO
estimate and added that the monsoon will be the only domestic risk factor
which may scupper this. Sentiments also got some lift with the report that
Finance Minister ArunJaitley moved the Central Goods and Services Tax (CGST)
Bill, 2017, along with three other GST Bills for consideration and passage in
the LokSabha. However, up-side remained capped ahead of the near month March
2017 derivatives contract expiry on Thursday.
The BSE
Sensex is currently closed at 29,531.43 up by 121.91 points or 0.41% after
trading in a range of 29439.42 and 29535.04. There were 18 stocks advancing
against 12 stocks declining on the index.
The broader
indices were trading in green; the BSE Mid cap index was up by 0.41%, while
Small cap index was up by 0.47%.
The
CNX Nifty is currently shut up at 9143.80 up by 43.00
points or 0.47% after trading in a range of 9109.10 and 9140.10. There were
35 stocks advancing against 16 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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Dishman
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301.50
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8.38
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GRUH
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408.00
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9.99
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Edelweiss
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157.25
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7.71
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Muthootfin
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377.40
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7.52
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Losers
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Bharatfin
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804.154
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-3.63
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NLCIndia
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104.55
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-3.55
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Unitech
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5.43
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-3.21
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SREINFRA
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82.95
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-3.04
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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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29,531.43
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0.41
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Nifty
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9,143.80
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0.47
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Crporate Front: Foreign
investors are set for their biggest monthly purchases of Indian equities in
four years in March, but analysts expect inflows to moderate after a major
overhaul of tax rules kicks in on April 1.Market participants estimate about
one-third of the inflows of $3.6 billion seen this month - the biggest since
February 2013 - were linked to buying ahead of the implementation of the
General Anti-Avoidance Rules (GAAR).
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Macroeconomic front:
Finance Minister ArunJaitley said that the tax rates will be kept at
the current levels so as not to have any inflationary impact, reported PTI.
Introducing four bills to give effect to the Goods and Services Tax (GST),
Jaitley said the legislations will have to be passed by Parliament and one by
each of the state assemblies to turn India into one market with a single tax
rate.
On
the global front:
On the global front, European markets were
trading in green, on Wednesday, as investors looked to London and Brussels
and the start of Britain's much-anticipated Brexit proceedings. Back home, in
scrip specific development, Kalpataru Power Transmission (KPTL) edged higher
after the company secured new orders exceeding Rs 1200 crore and Talwalkars
Better Value Fitness (TBVF) surged after the company inaugurated its 10 Zorba
- renaissance studios.
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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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28674.00
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-0.6
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Silver
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422118.00
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-0.64
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Crude oil
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3165.00
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-0.06
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Natural Gas
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208.80
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0.88
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Alluminium
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125.40
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-0.52
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Copper
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382.65
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-0.65
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the
BSE were Telecom up by 1.46%, Bankex up by 0.77%, Capital Goods up by 0.77%,
PSU up by 0.75% and Metal up by 0.74%, while Realty down by 0.36%, Healthcare
down by 0.24%, Oil & Gas down by 0.16% were the top losing indices on
BSE.
Top Nifty Movers:The top gainers on Nifty were
BhartiInfratel up by 4.90%, SBI up by 2.46%, Eicher Motors up by 1.88%,
Hindalco up by 1.74% and HCL Tech up by 1.64%. On the flip side, Grasim
Industries down by 0.91%, Sun Pharma down by 0.90%, Mahindra & Mahindra
down by 0.83%, Kotak Mahindra Bank down by 0.62% and AurobindoPharma down by
0.59% were the top losers.
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Global Signals:
Asian markets
were trading mostly in green; KOSPI Index increased 3.67 points or 0.17% to
2,166.98, Nikkei 225 increased 14.61 points or 0.08% to 19,217.48, Jakarta
Composite increased 34.72 points or 0.63% to 5,575.92 and Hang Seng increased
46.18 points or 0.19% to 24,392.05. On the flip side, Taiwan Weighted
decreased 20.2 points or 0.2% to 9,856.25, Shanghai Composite decreased 11.63
points or 0.36% to 3,241.31 and FTSE Bursa Malaysia KLCI decreased 5.41
points or 0.31% to 1,749.01.
All European
markets were trading in green; UK’s FTSE 100 increased 12.37 points or 0.17%
to 7,355.79, France’s CAC increased 18.58 points or 0.37% to 5,064.78 and
Germany’s DAX increased 71.94 points or 0.59% to 12,221.36.
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