Mid-Session: Sensex, Nifty trade near day’s high; FMCG, auto stocks up 1%
10/05/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
The Indian equities continued to trade higher in late morning deal on Wednesday, helped by strong rally across FMCG and auto stocks, undermining mixed cues from Asian peers after the India Meteorological Department (IMD) forecasted above average monsoon rainfall in 2017 which is likely to boost rural demand. FMCG companies such as Hindustan Unilever Ltd and Britannia Industries hit 52-week soon after MET forecast as good monsoon brightened outlook for the sector. Gujarat Mineral Development Corporation (GMDC) rallied over 15 per cent, hitting 52-week high, after the company’s standalone net profit more than doubled to Rs 90 crore during the quarter ended March 2017, compared to Rs 40 crore in the year ago period.
At 12:22 hour, the Bombay Stock Exchange bellwether Sensex was trading 30171.11, up by 237.86 points or by 0.79 per cent, and the NSE Nifty was at 9379.6, up by 62.75 points or by 0.67 per cent.
Bharti Airtel rose 3.6 per cent after the company said that its subscriber base and Africa business grew during the fourth quarter ended March 31, 2017. The telecom major has reported a 72 per cent year-on-year fall in net profits at Rs 373 crore during the January-March quarter, weighed down by rival Reliance Jio’s aggressive pricing strategy. In the day’s trade so far, the BSE Sensex touched intra-day high of 30207.13 and intraday low of 29987.44, while the NSE Nifty touched intraday high of 9392.5 and intraday low of 9336. The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 989.00,+3.88%), Bharti Airtel Ltd. (Rs. 357.90,+3.59%), Housing Development Finance Corporation Ltd. (Rs. 1559.75,+2.39%), Mahindra & Mahindra Ltd. (Rs. 1371.20,+2.18%), Cipla Ltd. (Rs. 560.05,+1.54%), among others.
On the flip side, Tata Consultancy Services Ltd. (Rs. 2322.80,-1.27%), Wipro Ltd. (Rs. 502.40,-1.24%), Infosys Ltd. (Rs. 940.00,-0.71%), Hero MotoCorp Ltd. (Rs. 3280.65,-0.28%), Asian Paints Ltd. (Rs. 1162.40,-0.24%), were among the top losers on BSE. On the sectoral front, FMCG and auto stocks emerged as top gainers, rising as much as 1.62 per cent and 1.1 per cent, respectively. The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2850, shares advanced were 1593 while 1083 shares declined and 174 were unchanged.
10/05/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
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The Indian equities continued to trade higher in late morning deal on Wednesday, helped by strong rally across FMCG and auto stocks, undermining mixed cues from Asian peers after the India Meteorological Department (IMD) forecasted above average monsoon rainfall in 2017 which is likely to boost rural demand. FMCG companies such as Hindustan Unilever Ltd and Britannia Industries hit 52-week soon after MET forecast as good monsoon brightened outlook for the sector. Gujarat Mineral Development Corporation (GMDC) rallied over 15 per cent, hitting 52-week high, after the company’s standalone net profit more than doubled to Rs 90 crore during the quarter ended March 2017, compared to Rs 40 crore in the year ago period.
At 12:22 hour, the Bombay Stock Exchange bellwether Sensex was trading 30171.11, up by 237.86 points or by 0.79 per cent, and the NSE Nifty was at 9379.6, up by 62.75 points or by 0.67 per cent.
Bharti Airtel rose 3.6 per cent after the company said that its subscriber base and Africa business grew during the fourth quarter ended March 31, 2017. The telecom major has reported a 72 per cent year-on-year fall in net profits at Rs 373 crore during the January-March quarter, weighed down by rival Reliance Jio’s aggressive pricing strategy. In the day’s trade so far, the BSE Sensex touched intra-day high of 30207.13 and intraday low of 29987.44, while the NSE Nifty touched intraday high of 9392.5 and intraday low of 9336. The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 989.00,+3.88%), Bharti Airtel Ltd. (Rs. 357.90,+3.59%), Housing Development Finance Corporation Ltd. (Rs. 1559.75,+2.39%), Mahindra & Mahindra Ltd. (Rs. 1371.20,+2.18%), Cipla Ltd. (Rs. 560.05,+1.54%), among others.
On the flip side, Tata Consultancy Services Ltd. (Rs. 2322.80,-1.27%), Wipro Ltd. (Rs. 502.40,-1.24%), Infosys Ltd. (Rs. 940.00,-0.71%), Hero MotoCorp Ltd. (Rs. 3280.65,-0.28%), Asian Paints Ltd. (Rs. 1162.40,-0.24%), were among the top losers on BSE. On the sectoral front, FMCG and auto stocks emerged as top gainers, rising as much as 1.62 per cent and 1.1 per cent, respectively. The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2850, shares advanced were 1593 while 1083 shares declined and 174 were unchanged.
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