Indian share markets continued to witness buying momentum in the afternoon session and finished on a strong note.
NSE Nifty closed at 9237 levels, up by 64 points or 0.7%. BSE Sensex closed at 29,910 levels, up by 289 points or 0.3%. Reliance, ICICI, L&T and HDFC were the top contributors to the Nifty gains.
Nifty 50 index closed at its record close on Monday and the 30-share Sensex closed 90 points away from it 30,000 mark
While, BSE Mid-cap Index closed up 0.6% at 14189 whereas, BSE Small-cap Index closed up 1.2% at 14620.
Asian stock markets finished higher today with shares in Hong Kong leading the region. The Hang Seng is up 0.62% while Japan’s Nikkei 225 is up 0.39% and China’s Shanghai Composite is up 0.38%. European markets are mixed today. The DAX is up 0.29% while the FTSE 100 gains 0.12%. The CAC 40 is off 0.05%.
According to Finance Minister Arun Jaitley has expressed his confidence that India’s GDP will grow at 7.2% in 2017 and at the rate of 7.7 per cent in 2018. He also pointed out that global growth is moving upwards but emerging market economies (EMEs) face newer challenges from growing protectionism of some economies, global financial condition, policies of the United States
The Minister has stated that India has sought US$2 billion loans for various projects from the New Development Bank (NDB), whose core mandate is sustainable infrastructure development and which is set up by the emerging countries such as India, China, Brazil, Russia, and South Africa.
BSE Telecom and IT indices were the top losing index on Monday’s trading session. Bharti Airtel was dragging the BSE Telecom index down, while Infosys was pulling the BSE IT index to its day’s lows.
Bharti Airtel closed at Rs 342 per share up by Rs 7 or 2.2% , and Infosys closed at Rs 1009 per share up by Rs 11 or 1.1%.
Bajaj Electricals Ltd closed at Rs 375 per share, up by Rs 62 or 20%.
Kridhan Infra Limited closed at by Rs 61 per share up by Rs 10 or 19%.
Udaipur Cement Works closed at Rs 34 per share up by Rs 5 or 19%.
Orhcid Pharma closed at Rs 31 per share up by Rs 5 or 19%.
The rupee was trading at 64.91 per US dollar.
Top 5 Nifty Gainers: LT(5.63%), DRREDDY(4.04%), RELIANCE(3.96%), ICICIBANK(3.54), HDFC(2.32%).
Top 5 Nifty Losers: BHARTIARTL(-2.30%), WIPRO(-1.68%), IOC(-1.56%), BPCL(-1.53%), INDUSINDBK(-1.32%)
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