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Key benchmark indices hovered in positive zone in early afternoon trade. At 12:28 IST, the barometer index, the Sensex, was up 63.76 points or 0.19% at 33,981.70. The index was up 28.60 points or 0.27% at 10,450.00. The Sensex was trading below the 34,000 level after hitting an intraday high above that level in morning trade. Domestic macroeconomic data released after market hours yesterday, 12 March 2018, signalling an economic turnaround boosted the sentiment.

IT stocks declined as the rupee firmed against the dollar. Metal and stocks rose. Aviation stocks rose.

Volatility struck bourses in early trade as the key benchmark indices turned positive soon after an initial decline triggered by subdued Asian stocks. Stocks extended gains and hit fresh intraday high in morning trade. Key benchmark indices trimmed some gains in mid-morning trade.

The Mid-Cap index was up 1.02%. The Small-Cap index was up 1.22%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,678 shares rose and 754 shares fell. A total of 124 shares were unchanged.

IT stocks declined as the rupee firmed against the dollar. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a lion's share of revenue from exports. In the foreign exchange market, the partially convertible rupee was hovering at 64.9625, compared with closing of 65.04 during the previous trading session.

(down 1.11%), (down 0.87%), (down 0.05%), (down 0.31%) and (down 0.29%) fell.

lost 4.75% to Rs 2,907 on reports that that has sold about 2.84 crore shares or 1.5% stake of the company through six block deals in a price range of Rs 2,872 to Rs 2,925 per share on the NSE. held 73.52% stake in (as on 31 December 2017. The money raised from the stake sale will be used by to strengthen its balance sheet, reports added.

shed 0.07%. announced its intention to voluntarily delist its American Depository Shares (ADS) from the Paris and exchanges. ADS will continue to be listed on the NYSE and investors can continue to trade their ADS on the NYSE as before. The announcement was made after market hours yesterday, 12 March 2018.

The primary reason for seeking the proposed delisting is the low average daily trading volume of ADS on these exchanges, which is not commensurate with the related administrative requirements. During the 5-year period of the company's listing on Paris and London, the average daily trading volume of the company's ADS was significantly lower than its average daily trading volume on the (NYSE). The proposed delisting is subject to approval from Paris S.A. and There will be no change to the share/ADS count, capital structure and float, as a result of the proposed delisting from the above exchanges.

Metal and stocks rose. Hindustan Copper (up 2.39%), (up 0.96%), (up 0.69%), (Sail) (up 1.52%), (up 0.55%), (up 0.5%), (up 0.96%) and NMDC (up 0.69%) edged higher. (down 0.2%) fell.

rose 1.72% to Rs 322.40 after the company's board of directors at its meeting held today, 13 March 2018, declared an interim dividend of Rs 21.20 per share for the financial year ending 31 March 2018. The announcement was made during market hours today, 13 March 2018.

Aviation stocks rose. (up 1.26%) and (up 2.18%) rose.

Aviation rose 0.13%. According to media reports, the of Civil Aviation (DGCA) on Monday, 12 March 2018, grounded a few A320neo aircraft currently operating in the country due to the ongoing engine issue. DGCA asked IndiGo to ground eight of its A320neo aircraft until further notice.

The civil aviation authority has reportedly said that no concrete proposal has been given by yet on when the engine woes will be resolved. All the grounded A320neo aircraft are fitted with engines, reports added.

Aviation has yet to reply to a stock exchange notice issued late on Monday, 12 March 2018, seeking clarification on the

jumped 14.26% to Rs 57.70 after a domestic brokerage initiated coverage on the stock with a 'Buy' rating and price target of Rs 76. The brokerage stated in its report that (FCL), an integrated consumer company, is the best play on the huge window of opportunity (presented by a combination of macro factors and company-led initiatives) for brands using modern of distribution.

In addition, FCL appears best placed among companies from a revenue, profit and RoCE perspective, given the group's focus on to drive growth in its burgeoning brands portfolio. Improving mix and operating leverage are expected to drive significant margin expansion over the next five years, the report added.

Domestic macroeconomic data released after market hours yesterday, 12 March 2018, signalled an economic turnaround. The lower-than-expected CPI inflation and higher-than-expected IIP data will allay fears of an interest rate hike by the

India's industrial production (IIP) continued to record a strong growth for the third straight month at 7.5% in January 2018 from 7.1% growth in December 2017. The manufacturing sector's production surged 8.7% in January 2018, supporting overall growth in industrial production. The output growth slowed down to 0.1% in January 2018, while the generation growth accelerated to five-month high of 7.6% in January 2018, contributing to the improvement in overall industrial production growth in January 2018.

The all-general (CPI) inflation dipped to four-month low of 4.44% in February 2018, compared with 5.07% in January 2018 and at 3.65% in February 2017. The corresponding provisional inflation rate for rural area was 4.37% and urban area 4.52% in February 2018 as against 5.21% and 4.93% in January 2018. However, the core CPI inflation rose marginally to 5.04% in February 2018 compared with 5% in January 2018.

Overseas, most Asian stocks were trading lower ahead of US reading on inflation due today, 13 March 2018, which is likely to give some idea about whether the Federal Reserve will accelerate its pace of rate increases.

In US, the and the 500 index finished lower Monday, 12 March 2018 weighed down by the industrials sector, while the Composite Index closed at a record, in part due to optimism over Friday's jobs data, which showed solid economic growth without triggering wage pressure.

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

First Published: Tue, March 13 2018. 12:30 IST