Mid-Session: Sensex, Nifty trade flat ahead of Q4 GDP data; M&M up 5%
31/05/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
The Indian equities edged higher in lackluster trade on Wednesday after India Meteorological Department (IMD) said that monsoon has hit Kerala and some parts of the Northeast India ahead of the normal onset date. However, weak cues from Asian peers and negative closing of the Wall Street in the overnight trade took a dent on market sentiment. The cautioned also prevailed in the market as investors remained wary ahead of the GDP numbers for the quarter ended on May 31, 2017 due to be released later today. Gross domestic product (GDP) had grown marginally lower, at 7 percent, in the third quarter of FY17, down from 7.4 percent in the second quarter. At 12:17 hours, the 30-share barometer Sensex was at 31184.51, up by 25.11 points or by 0.08 per cent, while the NSE Nifty was at 9623.9, down by 0.65 points or by 0.01 per cent.
In the day’s trade so far, the BSE Sensex touched intra-day high of 31233.68 and intraday low of 31107.48, while the NSE Nifty touched intraday high of 9638.7 and intraday low of 9609.25. The Indian Rupee rebounded strongly against the greenback on Wednesday amid fresh selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted home currency’s movement. At the Interbank Foreign Exchange Market, the local currency was up by 13 paise to trade at 64.74 per dollar against a previous close of 64.87 per dollar. The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1433.95,+5.28%), Lupin Ltd. (Rs. 1178.80,+4.31%), Dr. Reddy's Laboratories Ltd. (Rs. 2535.35,+2.17%), Power Grid Corporation of India Ltd. (Rs. 208.35,+2.16%), GAIL (India) Ltd. (Rs. 411.30,+1.54%), among others.
Mahindra & Mahindra jumped over 5 per cent after auto major reported a growth of 19.9 per cent in its standalone net profit after taxes (PAT) at Rs 725.16 crore for the fourth quarter ended March 31, 2017. On the flip side, Oil And Natural Gas Corporation Ltd. (Rs. 176.80,-0.87%), Tata Steel Ltd. (Rs. 507.50,-0.63%), Reliance Industries Ltd. (Rs. 1350.60,-0.61%), Infosys Ltd. (Rs. 992.00,-0.45%), Housing Development Finance Corporation Ltd. (Rs. 1574.80,-0.44%), were among the top losers on BSE. On the sectoral front, auto and healthcare stocks emerged as top gainers, rising as much as 0.99 per cent and 0.93 per cent, respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2689, shares advanced were 1376 while 1161 shares declined and 152 were unchanged.
31/05/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
The Indian equities edged higher in lackluster trade on Wednesday after India Meteorological Department (IMD) said that monsoon has hit Kerala and some parts of the Northeast India ahead of the normal onset date. However, weak cues from Asian peers and negative closing of the Wall Street in the overnight trade took a dent on market sentiment. The cautioned also prevailed in the market as investors remained wary ahead of the GDP numbers for the quarter ended on May 31, 2017 due to be released later today. Gross domestic product (GDP) had grown marginally lower, at 7 percent, in the third quarter of FY17, down from 7.4 percent in the second quarter. At 12:17 hours, the 30-share barometer Sensex was at 31184.51, up by 25.11 points or by 0.08 per cent, while the NSE Nifty was at 9623.9, down by 0.65 points or by 0.01 per cent.
In the day’s trade so far, the BSE Sensex touched intra-day high of 31233.68 and intraday low of 31107.48, while the NSE Nifty touched intraday high of 9638.7 and intraday low of 9609.25. The Indian Rupee rebounded strongly against the greenback on Wednesday amid fresh selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted home currency’s movement. At the Interbank Foreign Exchange Market, the local currency was up by 13 paise to trade at 64.74 per dollar against a previous close of 64.87 per dollar. The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1433.95,+5.28%), Lupin Ltd. (Rs. 1178.80,+4.31%), Dr. Reddy's Laboratories Ltd. (Rs. 2535.35,+2.17%), Power Grid Corporation of India Ltd. (Rs. 208.35,+2.16%), GAIL (India) Ltd. (Rs. 411.30,+1.54%), among others.
Mahindra & Mahindra jumped over 5 per cent after auto major reported a growth of 19.9 per cent in its standalone net profit after taxes (PAT) at Rs 725.16 crore for the fourth quarter ended March 31, 2017. On the flip side, Oil And Natural Gas Corporation Ltd. (Rs. 176.80,-0.87%), Tata Steel Ltd. (Rs. 507.50,-0.63%), Reliance Industries Ltd. (Rs. 1350.60,-0.61%), Infosys Ltd. (Rs. 992.00,-0.45%), Housing Development Finance Corporation Ltd. (Rs. 1574.80,-0.44%), were among the top losers on BSE. On the sectoral front, auto and healthcare stocks emerged as top gainers, rising as much as 0.99 per cent and 0.93 per cent, respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2689, shares advanced were 1376 while 1161 shares declined and 152 were unchanged.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
