News Details

( 13 Jun 2018)
Markets open higher in early trade

The key domestic benchmark indices opened higher in the morning trading session despite mixed trend among Asian peers.

The investor may react to mixed macro data as factory output grew faster in April but retail inflation rose sharply in May. Industrial production surged by 4.9 per cent in April, from the five-month low of 4.4 per cent growth seen in March. However, the consumer price index-based inflation spiked to a four-month high of 4.87 per cent in May due to rising food prices and a lower base.

On the corporate front, shares of Sun Pharma will remain in focus after USFDA issued EIR to the company’s Halol manufacturing unit in Gujarat. Among others, stocks of Unitech may also see some movement after the company’s consolidated losses widened to Rs 999.8 crore for the March quarter.

At 09:20 a.m the Bombay Stock Exchange bellwether Sensex was trading at 35798.90 up by 106.38 points or by 0.30 per cent, while the NSE Nifty was at 10867.60 up by 24.70 points or by 0.23 per cent.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 553.20,+2.35 per cent), Tata Consultancy Services Ltd. (Rs. 1815.00,+1.91 per cent), ITC Ltd. (Rs. 273.90,+1.44 per cent), Wipro Ltd. (Rs. 270.00,+1.37 per cent), ICICI Bank Ltd. (Rs. 291.00,+1.31 per cent), among others.

Meanwhile, Bharti Airtel Ltd. (Rs. 375.00,-1.59 per cent), Hero MotoCorp Ltd. (Rs. 3672.05,-0.45 per cent), NTPC Ltd. (Rs. 160.85,-0.22 per cent), Tata Motors Ltd. (Rs. 184.60,-0.16 per cent), Mahindra & Mahindra Ltd. (Rs. 915.00,-0.16 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 402, shares advanced were 265 while 114 shares declined and 23 were unchanged.

On the global front, Asian stocks were trading mixed as investors remained wary ahead of Federal Reserve policy decision and its stance on future rate hikes, while the Wall Street closed modestly higher in the previous trading session as trader cheered historic US-North Korea summit, while rally in technology stocks also boosted market sentiment.