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Market logs modest gains

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Key benchmark indices logged modest gains on first trading day of the week in what was a steady session of trade. The barometer index, the S&P Sensex, rose 133.97 points or 0.44% at 30,322.12, as per the provisional closing data. The 50 index rose 44.95 points or 0.48% at 9,445.85, as per the provisional closing data. Hopes of an cut by the Reserve of (RBI) after the latest data showed a sharp fall in headline retail boosted sentiment on the domestic bourses.

Index heavyweight and cigarette major ITC gained. Metal and mining stocks gained sharply as copper prices rose in global commodity markets.

The gained 169.81 points or 0.56% at the day's high of 30,357.96 in early trade, its highest level since 11 May 2017. The index rose 85.47 points or 0.28% at the day's low of 30,273.62 in afternoon trade. The gained 48.35 points or 0.51% at the day's high of 9,449.25 in late trade, its highest level since 11 May 2017. The index rose 22.20 points or 0.23% at the day's low of 9,423.10 in afternoon trade.

Trading for the week began on an upbeat note as the market reacted positively to macroeconomic data released with changes in new base-year series for wholesale price index (WPI) and index of industrial production (IIP). Key indices traded in a small range amid firmness later during the session.

On the macro front, newly released WPI was sharply lower to 3.9% in April from 5.3% in March. The new IIP series recorded a higher-than-expected growth of 2.7% in March compared to 1.9% in February. The base year for WPI and IIP was revised to 2011-12. CPI (Consumer Price Index) slipped to a record low of 2.99% in April compared to 3.89% in March.

Headline retail is now well below the Reserve of India's medium term target of 4%. The data will provide guidance for the next monetary policy on 7 June 2017.

The Mid-Cap index was provisionally up 1.25%. The Small-Cap index was provisionally up 0.78%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,494 shares rose and 1,313 shares fell. A total of 182 shares were unchanged.

The total turnover on amounted to Rs 3457.75 crore, lower than the turnover of Rs 3,871.81 crore registered during the previous trading session.

Index heavyweight and cigarette major ITC gained 1.33% to Rs 277.95. The stock hit a high of Rs 278.95 and low of Rs 275 in intraday trade.

Metal and mining stocks gained sharply as copper prices rose in global commodity markets.

Hindalco Industries (up 3.87%), Vedanta (up 1.92%), JSW Steel (up 2.66%), Tata Steel (up 4.38%), Steel Authority of (Sail) (up 2.4%), National Aluminium Company (up 0.08%), Hindustan Zinc (up 0.63%), Jindal Steel & Power (up 2.23%), NMDC (up 2.19%), Hindustan Copper (up 5.37%) edged higher.

Copper edged higher in the global commodities market. High Grade Copper for July 2017 delivery was currently up 0.83% at $2.5450 per pound on the COMEX.

Overseas, European stocks were trading with small gains, paring an earlier advance, as gains in commodity and energy producers were offset by losses in drugmakers. Most Asian stocks were trading higher as investors continued to shake off reasons to worry.

On the macro front, data released today, 15 May 2017 showed Chinese industrial output and retail sales rose less than expected in April, adding to concerns over the strength of the world's second-largest economy. However, there was optimism over infrastructure spending after President Xi Jinping laid out a sweeping framework for Chinese-style globalization, pledging $78 billion in financing.

Over the weekend, North Korea tested a new type of missile, and a global cyberattack hit computers in business, government and health care.

Meanwhile, a G7 communique issued on Saturday, 13 May 2017 said the group would use all policy tools - fiscal, structural and monetary - to boost economic growth. Several officials raised concerns about risks to global growth from the US President Donald Trump administration's stance on trade and tax policy.

US markets ended narrowly mixed on Friday, 12 May 2017, as investors digested weak retail sales and data as well as disappointing earnings updates from the likes of Nordstrom and J C Penney. A gauge of US consumer sentiment unexpectedly increased in May, offering some respite.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Market logs modest gains

Key benchmark indices logged modest gains on first trading day of the week in what was a steady session of trade. The barometer index, the S&P BSE Sensex, rose 133.97 points or 0.44% at 30,322.12, as per the provisional closing data. The Nifty 50 index rose 44.95 points or 0.48% at 9,445.85, as per the provisional closing data. Hopes of an interest rate cut by the Reserve Bank of India (RBI) after the latest data showed a sharp fall in headline retail inflation boosted sentiment on the domestic bourses.

Key benchmark indices logged modest gains on first trading day of the week in what was a steady session of trade. The barometer index, the S&P Sensex, rose 133.97 points or 0.44% at 30,322.12, as per the provisional closing data. The 50 index rose 44.95 points or 0.48% at 9,445.85, as per the provisional closing data. Hopes of an cut by the Reserve of (RBI) after the latest data showed a sharp fall in headline retail boosted sentiment on the domestic bourses.

Index heavyweight and cigarette major ITC gained. Metal and mining stocks gained sharply as copper prices rose in global commodity markets.

The gained 169.81 points or 0.56% at the day's high of 30,357.96 in early trade, its highest level since 11 May 2017. The index rose 85.47 points or 0.28% at the day's low of 30,273.62 in afternoon trade. The gained 48.35 points or 0.51% at the day's high of 9,449.25 in late trade, its highest level since 11 May 2017. The index rose 22.20 points or 0.23% at the day's low of 9,423.10 in afternoon trade.

Trading for the week began on an upbeat note as the market reacted positively to macroeconomic data released with changes in new base-year series for wholesale price index (WPI) and index of industrial production (IIP). Key indices traded in a small range amid firmness later during the session.

On the macro front, newly released WPI was sharply lower to 3.9% in April from 5.3% in March. The new IIP series recorded a higher-than-expected growth of 2.7% in March compared to 1.9% in February. The base year for WPI and IIP was revised to 2011-12. CPI (Consumer Price Index) slipped to a record low of 2.99% in April compared to 3.89% in March.

Headline retail is now well below the Reserve of India's medium term target of 4%. The data will provide guidance for the next monetary policy on 7 June 2017.

The Mid-Cap index was provisionally up 1.25%. The Small-Cap index was provisionally up 0.78%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,494 shares rose and 1,313 shares fell. A total of 182 shares were unchanged.

The total turnover on amounted to Rs 3457.75 crore, lower than the turnover of Rs 3,871.81 crore registered during the previous trading session.

Index heavyweight and cigarette major ITC gained 1.33% to Rs 277.95. The stock hit a high of Rs 278.95 and low of Rs 275 in intraday trade.

Metal and mining stocks gained sharply as copper prices rose in global commodity markets.

Hindalco Industries (up 3.87%), Vedanta (up 1.92%), JSW Steel (up 2.66%), Tata Steel (up 4.38%), Steel Authority of (Sail) (up 2.4%), National Aluminium Company (up 0.08%), Hindustan Zinc (up 0.63%), Jindal Steel & Power (up 2.23%), NMDC (up 2.19%), Hindustan Copper (up 5.37%) edged higher.

Copper edged higher in the global commodities market. High Grade Copper for July 2017 delivery was currently up 0.83% at $2.5450 per pound on the COMEX.

Overseas, European stocks were trading with small gains, paring an earlier advance, as gains in commodity and energy producers were offset by losses in drugmakers. Most Asian stocks were trading higher as investors continued to shake off reasons to worry.

On the macro front, data released today, 15 May 2017 showed Chinese industrial output and retail sales rose less than expected in April, adding to concerns over the strength of the world's second-largest economy. However, there was optimism over infrastructure spending after President Xi Jinping laid out a sweeping framework for Chinese-style globalization, pledging $78 billion in financing.

Over the weekend, North Korea tested a new type of missile, and a global cyberattack hit computers in business, government and health care.

Meanwhile, a G7 communique issued on Saturday, 13 May 2017 said the group would use all policy tools - fiscal, structural and monetary - to boost economic growth. Several officials raised concerns about risks to global growth from the US President Donald Trump administration's stance on trade and tax policy.

US markets ended narrowly mixed on Friday, 12 May 2017, as investors digested weak retail sales and data as well as disappointing earnings updates from the likes of Nordstrom and J C Penney. A gauge of US consumer sentiment unexpectedly increased in May, offering some respite.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Market logs modest gains

Key benchmark indices logged modest gains on first trading day of the week in what was a steady session of trade. The barometer index, the S&P Sensex, rose 133.97 points or 0.44% at 30,322.12, as per the provisional closing data. The 50 index rose 44.95 points or 0.48% at 9,445.85, as per the provisional closing data. Hopes of an cut by the Reserve of (RBI) after the latest data showed a sharp fall in headline retail boosted sentiment on the domestic bourses.

Index heavyweight and cigarette major ITC gained. Metal and mining stocks gained sharply as copper prices rose in global commodity markets.

The gained 169.81 points or 0.56% at the day's high of 30,357.96 in early trade, its highest level since 11 May 2017. The index rose 85.47 points or 0.28% at the day's low of 30,273.62 in afternoon trade. The gained 48.35 points or 0.51% at the day's high of 9,449.25 in late trade, its highest level since 11 May 2017. The index rose 22.20 points or 0.23% at the day's low of 9,423.10 in afternoon trade.

Trading for the week began on an upbeat note as the market reacted positively to macroeconomic data released with changes in new base-year series for wholesale price index (WPI) and index of industrial production (IIP). Key indices traded in a small range amid firmness later during the session.

On the macro front, newly released WPI was sharply lower to 3.9% in April from 5.3% in March. The new IIP series recorded a higher-than-expected growth of 2.7% in March compared to 1.9% in February. The base year for WPI and IIP was revised to 2011-12. CPI (Consumer Price Index) slipped to a record low of 2.99% in April compared to 3.89% in March.

Headline retail is now well below the Reserve of India's medium term target of 4%. The data will provide guidance for the next monetary policy on 7 June 2017.

The Mid-Cap index was provisionally up 1.25%. The Small-Cap index was provisionally up 0.78%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,494 shares rose and 1,313 shares fell. A total of 182 shares were unchanged.

The total turnover on amounted to Rs 3457.75 crore, lower than the turnover of Rs 3,871.81 crore registered during the previous trading session.

Index heavyweight and cigarette major ITC gained 1.33% to Rs 277.95. The stock hit a high of Rs 278.95 and low of Rs 275 in intraday trade.

Metal and mining stocks gained sharply as copper prices rose in global commodity markets.

Hindalco Industries (up 3.87%), Vedanta (up 1.92%), JSW Steel (up 2.66%), Tata Steel (up 4.38%), Steel Authority of (Sail) (up 2.4%), National Aluminium Company (up 0.08%), Hindustan Zinc (up 0.63%), Jindal Steel & Power (up 2.23%), NMDC (up 2.19%), Hindustan Copper (up 5.37%) edged higher.

Copper edged higher in the global commodities market. High Grade Copper for July 2017 delivery was currently up 0.83% at $2.5450 per pound on the COMEX.

Overseas, European stocks were trading with small gains, paring an earlier advance, as gains in commodity and energy producers were offset by losses in drugmakers. Most Asian stocks were trading higher as investors continued to shake off reasons to worry.

On the macro front, data released today, 15 May 2017 showed Chinese industrial output and retail sales rose less than expected in April, adding to concerns over the strength of the world's second-largest economy. However, there was optimism over infrastructure spending after President Xi Jinping laid out a sweeping framework for Chinese-style globalization, pledging $78 billion in financing.

Over the weekend, North Korea tested a new type of missile, and a global cyberattack hit computers in business, government and health care.

Meanwhile, a G7 communique issued on Saturday, 13 May 2017 said the group would use all policy tools - fiscal, structural and monetary - to boost economic growth. Several officials raised concerns about risks to global growth from the US President Donald Trump administration's stance on trade and tax policy.

US markets ended narrowly mixed on Friday, 12 May 2017, as investors digested weak retail sales and data as well as disappointing earnings updates from the likes of Nordstrom and J C Penney. A gauge of US consumer sentiment unexpectedly increased in May, offering some respite.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22