Markets

News Details

( 17/04/2018 09:13)
Markets open marginally higher in early trade

The key domestic benchmark indices opened higher in the morning trading session amid strong cues from other Asian peers.

On the economy front, the markets may react to a report that the World Bank has forecasted a growth rate of 7.3 percent for India this year and 7.5 percent for 2019 and 2020. Also, according to the Indian Meteorological Department forecast the country will receive normal monsoon rainfall this year raising hopes for higher farm output and a boost to the rains-dependent rural economy.

Around nine companies are likely to report their March quarter numbers today including 5paisa Capital, CRISIL, Gujarat Hotels, International Travel House, Muthoot Capital Services, Onelife Capital Advisors, Orchid Pharma, Schaeffler India and Tata Sponge Iron.

At 09:20 a.m the Bombay Stock Exchange bellwether Sensex was trading at 34340.34 up by 34.91 points or by 0.10 per cent, while the NSE Nifty was at 10533 up by 4.60 points or by 0.04 per cent.

The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 818.00,+2.10 per cent), Power Grid Corporation of India Ltd. (Rs. 203.00,+1.98 per cent), Tata Motors Ltd. (Rs. 195.50,+1.03 per cent), Housing Development Finance Corporation Ltd. (Rs. 1889.00,+0.98 per cent), State Bank of India (Rs. 251.50,+0.88 per cent), among others.

Meanwhile, Hindustan Unilever Ltd. (Rs. 1412.90,-0.49 per cent), Maruti Suzuki India Ltd. (Rs. 9190.10,-0.46 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 181.00,-0.28 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 shares traded 513, shares advanced were 336 while 136 shares declined and 41 were unchanged.

On the global front, Asian stocks were trading higher tracking Wall Street gains as the focus shifted to corporate earnings and looming economic data from China, while the Wall Street closed higher in the previous trading session as investors were optimistic about earnings season and appeared less worried about US-led missile attacks in Syria.

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