Markets

News Details

( 13 Apr 2018)
Mid Session: Sensex up 195 points; Nifty reclaims 10,500

The markets remained strong ahead of Infosys earnings, continuing their uptrend for the seventh consecutive session. Infosys is up 1 percent as analysts expect 2 per cent dollar revenue growth and over a percent growth in constant currency revenue. The constant currency revenue guidance by the company for FY19 is expected to be around 6-8 percent.

Sentiments also remained upbeat on positive economic data released post market hours on Thursday.

Among key economic data, the Index of Industrial Production (IIP) grew at 7.1 per cent in February, driven by strong manufacturing growth, as against 7.4 per cent in January. This is the fourth straight month when the IIP has grown above 7 per cent.

Separately, the consumer price index (CPI) inflation rate moderated to 4.28 per cent in March from 4.44 per cent in February, on the back of falling food inflation. This may boost hopes of better-than-expected gross value added (GVA) growth numbers for the fourth quarter of 2017-18.

At 12:25 hours, the 30-share benchmark index was trading at 34295.84 up by 194.71 points or by 0.57 per cent, while the NSE Nifty was at 10515.05 up by 56.4 points or by 0.54 per cent.

In the positive trade so-far, Sensex touched intraday high of 34300.56 and intraday low of 34154.94 The NSE Nifty touched intraday high of 10516.55 and intraday low of 10475.8.

The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 383.95,+3.20%), Kotak Mahindra Bank Ltd. (Rs. 1153.85,+1.99%), Dr. Reddy's Laboratories Ltd. (Rs. 2091.85,+1.61%), Wipro Ltd. (Rs. 291.35,+1.59%), ICICI Bank Ltd. (Rs. 290.30,+1.34%), among others.

The top losers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 1406.60,-0.49%), Larsen & Toubro Ltd. (Rs. 1354.10,-0.25%), among others.

Among the sectors, Metal index was at 14139.83 up by 183.46 points or by 1.31%. Steel Authority of India (SAIL) Ltd. (Rs. 77.25,+4.46%), Jindal Steel & Power Ltd. (Rs. 252.40,+3.57%), NMDC Ltd. (Rs. 123.95,+2.35%), Hindalco Industries Ltd. (Rs. 237.65,+2.15%), Vedanta Ltd. (Rs. 293.30,+1.37%),.

On the flip side, FMCG index was at 10667.1 down by 3.92 points or by 0.04%. Pincon Spirit Ltd. (Rs. 27.25,-4.89%), Dhampur Sugar Mills Ltd. (Rs. 118.20,-4.45%), Sanwaria Consumer Ltd. (Rs. 22.75,-2.78%), Avadh Sugar & Energy Ltd. (Rs. 421.20,-1.89%), Sakthi Sugars Ltd. (Rs. 18.00,-1.64%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2652 , shares advanced were 1537 while 979 shares declined and 136 were unchanged