Healthy macro-data lifts equities; metals, IT stocks surge

5 Dariya News

Mumbai 13-Apr-2018

Market observers said some gains were capped on the back of a sell-off during the late-afternoon trade session."Equity markets continued to go green for the seventh straight session its longest winning streak since November 2017 " Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.On a closing basis the wider Nifty50 of the National Stock Exchange (NSE) edged higher by 41.50 points or 0.40 per cent to 10 458.65 points.The barometer 30-scrip Sensex of the BSE closed at 34 192.65 points -- up 91.52 points or 0.27 per cent from its previous session s close.However the BSE market breadth remained bearish with 1 434 declines and 1 291 advances.In the broader markets the S&P BSE mid-cap index edged higher by 0.46 per cent and the small cap index by 0.26 per cent."Markets moved up further on Friday as the Nifty ended with gains for the seventh consecutive session. A sell-off from the highs in the afternoon session curbed the gains for the day " Deepak Jasani Head - Retail Research HDFC Securities told IANS."Major Asian markets have closed on a mixed note. European indices like DAX and CAC 40 traded in the green " he said.Abhijeet Dey Senior Fund Manager-Equities BNP Paribas Mutual Fund said: "Indian markets opened the day on a buoyant note in response to positive macro-economic data released in India after trading hours yesterday (Thursday)."

"However bouts of volatility plagued the markets and kept any large gains at bay. Both the benchmark Sensex and the Nifty finally closed the day with marginal gains " he added.Official data released post market hours on Thursday showed that India s March retail inflation eased to 4.28 per cent while factory production growth slowed marginally in February to 7.1 per cent.On Friday the Indian rupee strengthened by five paise to 65.21 against the US dollar from its previous close at 65.26.In terms of investments provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 399.59 crore while the domestic institutional investors purchased stocks worth Rs 306.05 crore.Sectorwise the S&P BSE metal index rose by 139.57 points followed by healthcare index by 75.98 points and IT index by 64.22 points.On the other hand the S&P BSE capital goods index fell by 64.02 points oil and gas index by 37.04 points and FMCG index by 31.87 points.Major Sensex gainers on Friday were: Adani Ports up 2.66 per cent at Rs 381.95; Wipro up 2.28 per cent at Rs 293.35; Coal India up 1.57 per cent at Rs 285.35; Kotak Bank up 1.52 per cent at Rs 1 148.50; and Dr. Reddy s Lab up 1.37 per cent at Rs 2 087.The Sensex losers were: State Bank of India down 1.22 per cent at Rs 251.20; Axis Bank down 1.17 per cent at Rs 541.90; Yes Bank down 0.66 per cent at Rs 309.40; Maruti Suzuki down 0.65 per cent at Rs 9 138.45; and Bharti Airtel down 0.61 per cent at Rs 377.80.