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Metal & mining stocks shine

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After a gap-up opening, the key benchmark indices continued to trade with strength in morning trade. At 10:21 IST, the barometer index, the S&P Sensex, was up 132.67 points or 0.44% at 30,320.82. The 50 index was up 40.75 points or 0.43% at 9,441.65. Gains in most Asian stocks boosted sentiment on the domestic bourses.

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) inflation and index of industrial production (IIP).

The Mid-Cap index was up 0.85%. The Small-Cap index was up 0.7%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,411 shares rose and 798 shares fell. A total of 104 shares were unchanged.

Overseas, most Asian stocks were trading higher as investors continued to shake off reasons to worry. On the macro front, official 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. 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 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 inflation 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.

Back home, Dr Reddy's Laboratories (up 2.6%), ICICI Bank (up 1.75%) and Tata Steel (up 1.65%) edged higher from the pack.

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

Hindalco Industries (up 1.88%), Vedanta (up 1.16%), JSW Steel (up 0.08%), Tata Steel (up 1.8%), Steel Authority of India (Sail) (up 0.83%), National Aluminium Company (up 0.15%), Jindal Steel & Power (up 0.98%), NMDC (up 1.59%), Hindustan Copper (up 0.79%) edged higher. Hindustan Zinc (down 0.1%) fell.

Copper edged higher in the global commodities market. High Grade Copper for July 2017 delivery was currently up 0.38% at $2.5335 per pound on the COMEX.

Telecom stocks saw mixed trend. Bharti Airtel (up 0.58%) and MTNL (up 0.41%) rose. Tata Teleservices (Maharashtra) (down 2.81%) and Reliance Communications (down 0.62%) declined.

Shares of Bharti Infratel fell 1.03%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

Idea Cellular lost 3.9% after the company reported consolidated net loss of Rs 327.70 crore in Q4 March 2017, compared with net profit of Rs 451.70 crore in Q4 March 2016. Idea Cellular's consolidated revenue from operations declined 14.26% to Rs 8126.10 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Saturday, 13 May 2017.

Idea said that the Indian wireless industry witnessed an unprecedented disruption in the second half FY 2017on account of free voice & mobile data promotions by the new entrant in the sector (Reliance Jio). The October to April 2017 interval can be best described as 'Period of Telecom Discontinuity', permanently changing mobility business parameters, it added.

With regard to updates on merger with Vodafone India, the company said that Vodafone & Idea have initiated necessary steps to obtain regulatory approvals for the proposed merger.

D-Link (India) dropped 16.26% after the company reported net loss of Rs 1.33 crore in Q4 March 2017, compared with net profit of Rs 9.10 crore in Q3 December 2016. The company's net sales declined 17.3% to Rs 154.75 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 12 May 2017.

On the macro front, the market reacted to macroeconomic data released by the government after market hours on Friday, 12 May 2017 with changes in new base-year series for Wholesale Price Index (WPI) inflation and Index of Industrial Production (IIP). The base year for WPI and IIP was revised to 2011-12.

Newly released WPI inflation 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. CPI (Consumer Price Index) inflation slipped to a record low of 2.99% in April compared to 3.89% in March.

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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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Metal & mining stocks shine

After a gap-up opening, the key benchmark indices continued to trade with strength in morning trade. At 10:21 IST, the barometer index, the S&P BSE Sensex, was up 132.67 points or 0.44% at 30,320.82. The Nifty 50 index was up 40.75 points or 0.43% at 9,441.65. Gains in most Asian stocks boosted sentiment on the domestic bourses.

After a gap-up opening, the key benchmark indices continued to trade with strength in morning trade. At 10:21 IST, the barometer index, the S&P Sensex, was up 132.67 points or 0.44% at 30,320.82. The 50 index was up 40.75 points or 0.43% at 9,441.65. Gains in most Asian stocks boosted sentiment on the domestic bourses.

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) inflation and index of industrial production (IIP).

The Mid-Cap index was up 0.85%. The Small-Cap index was up 0.7%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,411 shares rose and 798 shares fell. A total of 104 shares were unchanged.

Overseas, most Asian stocks were trading higher as investors continued to shake off reasons to worry. On the macro front, official 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. 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 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 inflation 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.

Back home, Dr Reddy's Laboratories (up 2.6%), ICICI Bank (up 1.75%) and Tata Steel (up 1.65%) edged higher from the pack.

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

Hindalco Industries (up 1.88%), Vedanta (up 1.16%), JSW Steel (up 0.08%), Tata Steel (up 1.8%), Steel Authority of India (Sail) (up 0.83%), National Aluminium Company (up 0.15%), Jindal Steel & Power (up 0.98%), NMDC (up 1.59%), Hindustan Copper (up 0.79%) edged higher. Hindustan Zinc (down 0.1%) fell.

Copper edged higher in the global commodities market. High Grade Copper for July 2017 delivery was currently up 0.38% at $2.5335 per pound on the COMEX.

Telecom stocks saw mixed trend. Bharti Airtel (up 0.58%) and MTNL (up 0.41%) rose. Tata Teleservices (Maharashtra) (down 2.81%) and Reliance Communications (down 0.62%) declined.

Shares of Bharti Infratel fell 1.03%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

Idea Cellular lost 3.9% after the company reported consolidated net loss of Rs 327.70 crore in Q4 March 2017, compared with net profit of Rs 451.70 crore in Q4 March 2016. Idea Cellular's consolidated revenue from operations declined 14.26% to Rs 8126.10 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Saturday, 13 May 2017.

Idea said that the Indian wireless industry witnessed an unprecedented disruption in the second half FY 2017on account of free voice & mobile data promotions by the new entrant in the sector (Reliance Jio). The October to April 2017 interval can be best described as 'Period of Telecom Discontinuity', permanently changing mobility business parameters, it added.

With regard to updates on merger with Vodafone India, the company said that Vodafone & Idea have initiated necessary steps to obtain regulatory approvals for the proposed merger.

D-Link (India) dropped 16.26% after the company reported net loss of Rs 1.33 crore in Q4 March 2017, compared with net profit of Rs 9.10 crore in Q3 December 2016. The company's net sales declined 17.3% to Rs 154.75 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 12 May 2017.

On the macro front, the market reacted to macroeconomic data released by the government after market hours on Friday, 12 May 2017 with changes in new base-year series for Wholesale Price Index (WPI) inflation and Index of Industrial Production (IIP). The base year for WPI and IIP was revised to 2011-12.

Newly released WPI inflation 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. CPI (Consumer Price Index) inflation slipped to a record low of 2.99% in April compared to 3.89% in March.

Powered by Capital Market - Live News

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

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Business Standard
177 22

Metal & mining stocks shine

After a gap-up opening, the key benchmark indices continued to trade with strength in morning trade. At 10:21 IST, the barometer index, the S&P Sensex, was up 132.67 points or 0.44% at 30,320.82. The 50 index was up 40.75 points or 0.43% at 9,441.65. Gains in most Asian stocks boosted sentiment on the domestic bourses.

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) inflation and index of industrial production (IIP).

The Mid-Cap index was up 0.85%. The Small-Cap index was up 0.7%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,411 shares rose and 798 shares fell. A total of 104 shares were unchanged.

Overseas, most Asian stocks were trading higher as investors continued to shake off reasons to worry. On the macro front, official 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. 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 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 inflation 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.

Back home, Dr Reddy's Laboratories (up 2.6%), ICICI Bank (up 1.75%) and Tata Steel (up 1.65%) edged higher from the pack.

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

Hindalco Industries (up 1.88%), Vedanta (up 1.16%), JSW Steel (up 0.08%), Tata Steel (up 1.8%), Steel Authority of India (Sail) (up 0.83%), National Aluminium Company (up 0.15%), Jindal Steel & Power (up 0.98%), NMDC (up 1.59%), Hindustan Copper (up 0.79%) edged higher. Hindustan Zinc (down 0.1%) fell.

Copper edged higher in the global commodities market. High Grade Copper for July 2017 delivery was currently up 0.38% at $2.5335 per pound on the COMEX.

Telecom stocks saw mixed trend. Bharti Airtel (up 0.58%) and MTNL (up 0.41%) rose. Tata Teleservices (Maharashtra) (down 2.81%) and Reliance Communications (down 0.62%) declined.

Shares of Bharti Infratel fell 1.03%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

Idea Cellular lost 3.9% after the company reported consolidated net loss of Rs 327.70 crore in Q4 March 2017, compared with net profit of Rs 451.70 crore in Q4 March 2016. Idea Cellular's consolidated revenue from operations declined 14.26% to Rs 8126.10 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Saturday, 13 May 2017.

Idea said that the Indian wireless industry witnessed an unprecedented disruption in the second half FY 2017on account of free voice & mobile data promotions by the new entrant in the sector (Reliance Jio). The October to April 2017 interval can be best described as 'Period of Telecom Discontinuity', permanently changing mobility business parameters, it added.

With regard to updates on merger with Vodafone India, the company said that Vodafone & Idea have initiated necessary steps to obtain regulatory approvals for the proposed merger.

D-Link (India) dropped 16.26% after the company reported net loss of Rs 1.33 crore in Q4 March 2017, compared with net profit of Rs 9.10 crore in Q3 December 2016. The company's net sales declined 17.3% to Rs 154.75 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours on Friday, 12 May 2017.

On the macro front, the market reacted to macroeconomic data released by the government after market hours on Friday, 12 May 2017 with changes in new base-year series for Wholesale Price Index (WPI) inflation and Index of Industrial Production (IIP). The base year for WPI and IIP was revised to 2011-12.

Newly released WPI inflation 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. CPI (Consumer Price Index) inflation slipped to a record low of 2.99% in April compared to 3.89% in March.

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