Markets open higher in early trade 14/10/2016 09:24
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The key domestic benchmark indices opened higher in the morning trading session as easing inflation bolstered the case for further interest rate cuts from the Reserve Bank of India, boosting risk taking appetite.
Retail inflation fell sharply for the second month on the trot, coming in at 4.31 per cent in September 2016, a 13-month low, from 5.05 per cent in August 2016 as food inflation declined sharply. With the RBI’s 5 per cent consumer inflation target for March 2017 looking likely to be met, another rate cut in the near-term could be in the offing.
Shares of TCS may witness some upward momentum as the country’s largest IT software exporter on Thursday in after-market hours posted better-than-expected Q2 earnings.
At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27680.82 up by 37.71 points or by 0.14 per cent, while the NSE Nifty was at 8589.25 points, trading higher by 15.90 points or by 0.19 per cent.
The top gainers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 5770.00,+0.80 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 274.00,+0.72 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 744.95,+0.62 per cent), State Bank of India (Rs. 251.25,+0.62 per cent), Axis Bank Ltd. (Rs. 521.50,+0.53 per cent), among others.
Meanwhile, Power Grid Corporation of India Ltd. (Rs. 173.00,-0.83 per cent), Hindustan Unilever Ltd. (Rs. 857.50,-0.52 per cent), GAIL (India) Ltd. (Rs. 413.00,-0.15 per cent), Tata Consultancy Services Ltd. (Rs. 2326.00,-0.11 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 251.60,-0.02 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 871 shares traded, 687 shares advanced, 149 shares declined while 35 were unchanged.
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Retail inflation fell sharply for the second month on the trot, coming in at 4.31 per cent in September 2016, a 13-month low, from 5.05 per cent in August 2016 as food inflation declined sharply. With the RBI’s 5 per cent consumer inflation target for March 2017 looking likely to be met, another rate cut in the near-term could be in the offing.
Shares of TCS may witness some upward momentum as the country’s largest IT software exporter on Thursday in after-market hours posted better-than-expected Q2 earnings.
At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27680.82 up by 37.71 points or by 0.14 per cent, while the NSE Nifty was at 8589.25 points, trading higher by 15.90 points or by 0.19 per cent.
The top gainers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 5770.00,+0.80 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 274.00,+0.72 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 744.95,+0.62 per cent), State Bank of India (Rs. 251.25,+0.62 per cent), Axis Bank Ltd. (Rs. 521.50,+0.53 per cent), among others.
Meanwhile, Power Grid Corporation of India Ltd. (Rs. 173.00,-0.83 per cent), Hindustan Unilever Ltd. (Rs. 857.50,-0.52 per cent), GAIL (India) Ltd. (Rs. 413.00,-0.15 per cent), Tata Consultancy Services Ltd. (Rs. 2326.00,-0.11 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 251.60,-0.02 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 871 shares traded, 687 shares advanced, 149 shares declined while 35 were unchanged.
