Markets

News Details

( 12/01/2018 10:16)
Markets remain firm; ICICI Bank, HDFC shares advance

The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking strong cues and firm trend across global markets.

The sustained fund inflows from foreign investors may boost investor sentiments as the government eased foreign direct investments (FDIs) ownership rules in sectors such as retail, civil aviation, and realty.

Following earnings report from TCS, rival Infosys will release its Oct-Dec quarter financial report today after market hours.

On the IPO front, Apollo Micro Systems shares got 9 times subscription on Day 2 of the bidding process. The company, which caters primarily to the defence and aerospace sectors, received bids for 3,72,44,150 shares against the total issue size of 41,44,955 shares, data available with the NSE showed. Shares of Shree Cements rose 1.5 percent in the early trade on strong December quarter numbers. Also, Jain Irrigation rallied 5 percent and IFCI gained 4 percent after both stocks came out of F&O ban.

At 10:15 a.m, the Bombay Stock Exchange bellwether Sensex was at 34602.64 up by 99.15 points or by 0.29 per cent, while the NSE Nifty was at 10687 up by 35.8 points or by 0.34 per cent.

The BSE Sensex touched an intraday high of 34638.42 and an intraday low of 34558.36 while the NSE Nifty touched an intraday high of 10690.25 and an intraday low of 10675.15.

The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 313.40,+1.28 per cent), Housing Development Finance Corporation Ltd. (Rs. 1756.95,+0.93 per cent), Maruti Suzuki India Ltd. (Rs. 9419.95,+0.84 per cent), Kotak Mahindra Bank Ltd. (Rs. 1024.35,+0.64 per cent), Reliance Industries Ltd. (Rs. 942.95,+0.61 per cent), among others.

Meanwhile, Tata Consultancy Services Ltd. (Rs. 2756.15,-1.16 per cent), Power Grid Corporation of India Ltd. (Rs. 197.60,-0.33 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 586.85,-0.26 per cent), Wipro Ltd. (Rs. 320.30,-0.23 per cent), Infosys Ltd. (Rs. 1073.20,-0.22 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 2472 shares traded, 1599 shares advanced, 756 shares declined while 117 were unchanged.

On the global front, Asian stocks were trading higher tracking the strong lead from Wall Street, while the Wall Street closed higher in the previous trading session as rising oil prices lifted energy stocks and investors bet on a strong US corporate earnings season.

ATTENTION INVESTORS 1 : "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case | 2 : "Prevent Unauthorized Transactions in your demat / trading account --> Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors. | 3 : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.

SEBI Regn. NSE: INB231280430 I F&O: INF231280430 I BSE: INB011280436 I NSE CD: INE231280430 I MCX-SX: INE261280430

Copyright © 2017 Rikhav Securities Ltd. All rights reserved

Designed , Developed & Content Powered by DION