Thursday 31 May 2018

Nifty Hovers Around 10,650 Mark Ahead Of F&O Expiry

Posted by suhani varma on Thursday, May 31, 2018 with No comments


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BSE Sensex regained the psychological mark of 35,000 mark and ahead of expiry of May derivative contracts, tracking positive move in global peers after easing of Italy political concerns.

The stock market was trading higher led by gains in HDFC twins, Infosys, Kotak Mahindra Bank, HUL and L&T. HDFC Bank ADR stock rallied 8.6% overnight.

On the sectoral front, FMCG, metal, financial and Bank Nifty was trading higher. 

the BSE Sensex was trading at 34,952, up by 35 points, while the Nifty50 index was trading at 10,633, up 19 points.

BSE Midcap was down by 0.10%, while BSE Smallcap was down 0.12%.

Shares of ICICI Bank slipped 2% after the bank said it will conduct an independent enquiry into whistleblower’s complaint about alleged impropriety by its Managing Director and CEO Chanda Kochhar.

Shares of Atlanta dropped 16% after Price Waterhouse Chartered Accountants stepped down as auditor of the company days before annual financial accounts were closed.

Reliance Communications stock gained 8% on the back of telco settling its dispute with Ericsson.

Volatility index India VIX slipped 2% to 13.1350.

HDFC Bank (+2.6%), Bharti Airtel (+1.3%), Tech Mahindra (+1.3%), Coal India (+1.3%) and ONGC (+1.2%) were the top gainers on Nifty50.

Sun Pharma (-1.7%), ICICI Bank (-1.4%), SBI (-1.3%), Axis Bank (-1.3%) and Power Grid (-1.2%) were the top losers in today’s trade.

Out of 2,038 stocks traded on the NSE, 767 advanced, 818 declined and 453 remained unchanged today.

A total of 14 stocks registered a fresh 52-week high in trade today, while 41 stocks touched a new 52-week low on the NSE.

The rupee strengthened by 6 paise to 67.37 against the dollar at the Interbank Foreign Exchange ahead of GDP data scheduled to be released later today.

Dow Jones rebounds 300 points as Italy woes abate with strong response to bond auction. Oil prices rise 2% after 6 days of decline even as US Dollar weakens. Financial stocks see value buying, as market participants feel sell-off overdone. Asian indices opened in the green, as markets saw Italian bond auction pass off smoothly.

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