Mar 17

Daily Market Commentary : 17th March. 2017

Share markets in India continued to trade marginally higher in the afternoon session amid mixed global indices.

NSE Nifty closed at 9160 levels, up by 6 points or 0.07%, while BSE Sensex closed at 29,648 levels, up by 63 points or 0.21%.

Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.09%, while the Shanghai Composite & the Nikkei 225 fell 0.96% and 0.35% respectively. European markets are mixed. The CAC 40 is higher by 0.20%, while the DAX is leading the FTSE 100 lower. They are down 0.15% and 0.05% respectively.

ITC was the top Nifty gainer whereas, Idea was the top Nifty loser in Friday’s trading session.

The BSE Mid-cap Index closed down 0.1% at 13893 whereas, BSE Small-cap Index closed up 0.1% at 14012.

Cigarette company shares since morning session were sizzling on bourses as the GST Council on Thursday cleared a proposal to cap the cess on tobacco and cigarettes on Thursday.

ITC rallied 7.5% hitting a high of Rs 288 per share, the stock closed at Rs 280 per share up by Rs 12 per share or 4.6%

Sugar stocks in closing hours of trade were gained ahead of the sugar output data.

Andhra Sugar was up by 8.5%, the stock closed at Rs 296 up by Rs 19 per share or 6.9%.

TRF Limited closed at Rs 288 per share, up by Rs 32 per share or 16%.

Dredging Corporation closed at Rs 676 per share, up by Rs 50 per share or nearly 8%.

United Bank closed at Rs 25 per share, up by Rs 1.8 per share or nearly 7%.

Vadilal Industries closed at Rs 841 per share, up by Rs 55 per share or 7%.

There were 691 advances, 954 declines and 275 unchanged stocks on NSE, reflecting bearish undertone floating in the market.

The rupee was trading at 65.44 per US dollar.

Top 5 Nifty Gainers: ITC Ltd. (4.40%), HCL Technologies Ltd. (1.25%), Infosys Ltd. (0.99%), Eicher Motors Ltd. (0.96%) and Tech Mahindra Ltd. (0.73%).

Top 5 Nifty Losers: IDEA (-4.56%), Bharti Airtel (-4.45%), Bank of Baroda (-2.20%), Tata Motors Ltd. (-2.00%) and SBI (-1.90%)

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