Markets

News Details

( 07/12/2017 11:17)
Markets maintain momentum; NTPC, MSI top gainers

The key domestic benchmark indices were trading in the green in the late morning trading session backed by short covering in beaten down stocks like banks, auto and metals stocks.

With the Reserve Bank of India delivered what was expected, keeping the benchmark repo rate unchanged at 6 per cent, now all eyes will be on assembly elections in Gujarat, which might have impact on the government policies ahead.

On the corporate front, shares of Infosys remained in focus after the IT major moved to the Securities and Exchange Board of India (Sebi) to settle the severance agreement it signed with former CFO Rajiv Bansal in 2015.

Shares of Hatsun Agro Products added nearly 3 percent in the early trade as company approved raising funds via right issue. Also, Weizmann Forex gained nearly 4 percent after Girik Wealth Advisors bought 70,000 shares (0.6 percent) of the company at Rs 1,399 per share through a block deal yesterday.

At 11:15 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 32841.73 up by 244.55 points or by 0.75 per cent, while the NSE Nifty was at 10127 up by 82.9 points or by 0.83 per cent.

The BSE Sensex touched an intraday high of 32844.55 and an intraday low of 32598.12 while the NSE Nifty touched an intraday high of 10127.65 and an intraday low of 10061.9.

The top gainers of the BSE Sensex pack were NTPC Ltd. (Rs. 179.35,+2.34 per cent), Maruti Suzuki India Ltd. (Rs. 8775.95,+2.04 per cent), Tata Steel Ltd. (Rs. 681.00,+1.94 per cent), Lupin Ltd. (Rs. 823.60,+1.80 per cent), ICICI Bank Ltd. (Rs. 304.70,+1.77 per cent), among others.

Meanwhile, Reliance Industries Ltd. (Rs. 926.30,-0.13 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2494 shares traded, 1812 shares advanced, 574 shares declined while 108 were unchanged.

On the global front, Asian stocks were trading mixed as softer oil and copper as well as US policy uncertainty kept sentiment in check, while the Wall Street closed lower in the previous trading session as investors weighed signs of risk in the markets and with US policy.

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