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Global cues, hopes of healthy macro data lift equity indices




Mumbai, June 12: Global cues and expectations of a healthy macro-economic industrial production data aided the key Indian equity indices to close Tuesday’s trade session on a positive note.

In terms of global cues, market analysts cited the historic meet between US President Donald Trump and North Korean leader Kim Jong-un as a major sentiment booster for investors.

Donald trump Kim Jong un

In addition, expectations of a healthy industrial production data for April also enhanced investors’ risk-taking appetite and led to a pick-up in healthcare, capital goods and banking stocks.

However, caution over a possible rise in retail inflation levels due to higher crude oil prices capped gains.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,842.85 points — up by 55.90 points or 0.52 per cent — from its previous close of 10,786.95 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex), which had opened at 35,525.30 points, ended in the green. It settled at 35,692.52 points — higher by 209.05 points or 0.59 per cent — from its previous session’s close of 35,483.47 points.

The Sensex touched a high of 35,743.08 points and a low of 35,479.07 points during the intra-day trade. The BSE market breadth was bullish with 1,440 advances and 1,224 declines.

“Markets rallied strongly on Tuesday on buying in index heavyweights. Sentiments were boosted after Trump and Kim Jong Un signed an unspecified document in Singapore,” said Deepak Jasani, Head of Retail Research at HDFC Securities.

Geojit Financial Services’ Head of Research Vinod Nair said: “Market edged higher supported by positive outcome from US-N.Korea summit which may lead to an end of conflicts in Korean peninsula.

“However, global market remains mixed ahead of US Fed, ECB (European Central Bank) and BoJ (Bank of Japan) policy meeting during the week.”

On the currency front, the Indian rupee weakened by seven paise against the US dollar to 67.49, from its previous close at 67.42.

Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,168.88 crore while the domestic institutional investors bought stocks worth Rs 1,327.45 crore.

Sector-wise, the S&P BSE healthcare index gained 262.17 points, the capital goods index rose by 220.78 points and the banking index ended 204.94 points higher.

On the other hand, S&P BSE metal index was down by 76.85 points, followed by the basic materials and the telecom indices which were marginally down, by 9.24 points and 3.75 points respectively.

The major gainers on the Sensex were Dr Reddy’s Lab, up 5.23 per cent at Rs 2,190.25; State Bank of India, up 3.36 per cent at Rs 282.85; Hindustan Unilever, up 2.41 per cent at Rs 1,640.45; IndusInd Bank, up 2.41 per cent at Rs 1,950.45; and Hero MotoCorp, up 2.11 per cent at Rs 3,688.75 per share.

The top losers were Bharti Airtel, down 1.98 per cent at Rs 381.05; Tata Steel, down 1.52 per cent at Rs 579.80; Coal India, down 1.49 per cent at Rs 283.50, ONGC, down 1.10 per cent at Rs 171.35 and Yes Bank, down 0.98 per cent at Rs 332.40 per share.




Equity indices touch fresh highs as rupee strengthens



sensex up

Mumbai, Aug 21: An appreciation in the Indian rupee lifted the key equity indices — S&P BSE Sensex and the NSE Nifty50 — to fresh intra-day highs during the morning trade session on Tuesday.

The BSE Sensex touched a high of 38,402.96 points, while the Nifty50 climbed a peak of 11,581.75 points.

However, broadly negative Asian markets and fears over rise in trade protectionist measures subdued the key indices soon after.

Around 9.35 a.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 11,551 points — inched-down by 0.75 points or 0.01 per cent — from its previous close.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 38,360.32 points, traded at 38,260.74 points — lower by just 18.01 points or 0.05 per cent — from its previous session’s close of 38,278.75 points.

Sensex has so far touched a low of 38,251.01 points during the intra-day trade.


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All India traders strike against Walmart-Flipkart deal: CAIT



Walmart-Flipkart deal
Walmart CEO Doug McMillon and Flipkart Co-Founder and CEO Binny Bansal during an programme to announce Walmart Inc.'s acquisition of Flipkart 77% stake, in Bengaluru on May 9, 2018. (Photo: IANS)

New Delhi, Aug 20 (IANS) The Confederation of All India Traders (CAIT) on Monday called for an all India traders strike against the Walmart-Flipkart deal on September 28.

“We are organising a ‘Bharat Trade Bandh’ (All India Traders Strike) on September 28 against the Walmart-Flipkart deal. We want the government to nullify the deal as it is against the sector,” CAIT Secretary General Praveen Khandelwal told IANS.

“We have also planned a host of other activities like a mega traders protest march to gain public support against the deal.”

Accordingly, the confederation has called for a ‘Bharat Trade Bandh’ on September 28 and a massive nationwide ‘Rath Yatra’ to begin on September 15 and a mega traders rally on December 16 at New Delhi.

On Saturday, Walmart Inc. acquired approximately 77 per cent stake in e-commerce major Flipkart.

Accordingly, Walmart now holds approximately 77 per cent of Flipkart, while the remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft Corp.

Walmart’s investment includes $2 billion of new equity funding to help accelerate the growth of the Flipkart business and both companies will retain their unique brands and operating structures in India.

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Equity indices end at record closing levels; Nifty50 closes above 11,500



Sensex equity Nifty

Mumbai, Aug 20: Positive global cues and recovery in the Indian rupee lifted the benchmark S&P BSE Sensex and NSE Nifty50 to provisionally end at record closing highs on Monday.

Heavy buying activity was witnessed in capital goods, metal and oil and gas stocks, analysts said.

Earlier in the day, both the indices — BSE Sensex and the NSE Nifty50 — touched their all-time intra-day high levels of 38,340.69 points and 11,565.30 points respectively.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange provisionally ended at a fresh closing high of 11,551.75 points, up 81 points or 0.71 per cent from its previous close.

The benchmark S&P BSE Sensex which had opened at 38,075.07 points, closed at 38,278.75, points, higher by 330.87 points or 0.87 per cent from its previous close. It touched an intra-day low of 38,050.69 points.

Sector-wise, the S&P BSE Capital Goods index gained 668.41 points, the metal index rose by 332.36 points and the oil and gas was up 191.82 points by the end of the day’s trade.

On the other hand, the IT index declined by 188.84 points, the consumer durable index fell 127.24 points and the Teck (technology, entertainment and media) stocks declined by 76.07 points.

The top gainers at the S&P BSE Sensex were Larsen and Toubro, Tata Motors (DVR), Tata Motors, ONGC, and Tata Steel. On the contrary the majors losers in the day were Infosys, Maruti Suzuki, ICICI Bank, Axis Bank and Hindustan Uniliver.

On Friday, the indices traded on a positive note with the Sensex closing at 37,947.88 points and the Nifty50 at 11,470.75 points.


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