Wednesday, 17 January 2018

Nifty Above 10,700 Mark; Bank Stocks Rise On Gains In Govt Bonds

Posted by suhani varma on Wednesday, January 17, 2018 with No comments


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Benchmark indices recovered as shares of banks rose tracking gains in government bond prices.Benchmark indices recovered as shares of banks rose tracking gains in government bond prices. The rupee also rebounded sharply following a reduction in government borrowing.
The benchmark 10-year bond rose after the government cut its additional borrowing requirement for 2017-18 (Apr-Mar) to Rs20,000cr from Rs50,000cr earlier.

At 10:51 AM, the BSE Sensex was trading at 34,904, up 133 points, while the broader Nifty50 index was ruling at 10,736, up 35 points.

Gravita India stock gained 2% after the company won an order worth Rs250cr from Luminous Power.

Shares of Hatsun Agro Product slumped after the company reported a 53% on year fall in its Oct-Dec net profit to Rs15cr.

The BSE Mid-cap and BSE Small-cap indices were down 0.11% and 0.47%, respectively.

Volatility index India VIX slipped 1.49%.

Some of the buying sectors seen in IT, pharma, bank, metal, FMCG and financial services, while auto, realty and media sectors are losing sheen on the NSE.

Infosys (+2.6%), TCS (+2.1%), Adani Ports (+2%), ICICI Bank (+1.8%) and Axis Bank (+1.5%) were the top gainers on Nifty50.

GAIL (-1.9%), Wipro (-1.7%), Zee (-1.3%), Tata Motors (-1.3%) and Hero MotoCorp (-1.2%) were the top losers in today’s trade.

Out of 2,008 stocks traded on the NSE, 485 advanced, 1,170 declined and 357 remained unchanged today.
A total of 54 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.

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