Equity Benchmarks began the week on a positive note, Driven by a rally in banks as well as pharma stocks. The performance helped the Nifty Above to its 9500- marks. The Sensex was up 52.42 points at 31155.91, while the Nifty was up 11.25 points at 9618.15 the Market breadth, however was narrow as 776 shares advance against a decline of 880 shares declined, While 91 shares were unchanged. Reliance, Bank of baroda, Dreddy, Hindunilvr and ICICI Bank to gained the most on both indices, while Yesbank, CIPLA, ITC, HDFC and ACC lost the most.
There was a sharp fluctuation in the domestic markets today. After the flat start, the market has improved and the Nifty has crossed the 9650 mark. But in the last hour, the Nifty slipped below the 9600 due to fast sell-off. Finally, the Nifty closed around 9600, while the Sensex closed 31100. In today’s trading, the Nifty knocked up to 9654.15 & the Sensex reached 31260.8 levals.
There was also profit-booking in mid-caps and smallcap stocks. BSE’s mid-cap index closed flat at around 14800. In today’s turnover, the BSE Midcap Index was able to reach 14892.5. BSE’s smallcap index closed 0.4 percent higher at 15518 level. In today’s turnover, the BSE’s Smallcap Index reached around 15600.
BSE’s 30-share index Sensex closed 8 points higher at 31,103.5 level. On the other hand, NSE’s 50-share index Nifty closed 9.5 points lower at level of 9,607 level.
Investors of Tata Communications can get bigger gifts soon. The decision on the company’s Land Deamger’s coming soon. It expects larger dividends and value unlocking. Land Deamger’s announcement is possible in the next board meeting. The estimated value of the company’s land is 9-10 thousand crores which is 300-350 rupees per share. After the demerger, the amount will be distributed in the form of dividends.
Due to this demerger, investors can get a dividend of Rs 250-275 per share. Only retail investors and government will get the dividend. The promoter Tata Group will not get the dividend. At the same time, retail shareholders will not have to pay any taxes. The company has given priority to Land DeMager. EY has been appointed consultant for Land Deamger’s.
On the day of the RBI’s credit policy, business has seen a lot of ups and downs in the domestic markets. The Sensex and the Nifty gained momentum in early trading. However, in the afternoon trading session, a bad news about the IT sector brought the market’s all the wind up. But, after the RBI policy came, the market took a U-turn and the market closed on the edge.
Sensex and Nifty have climbed up to 0.25 percent. In today’s turnover, the Nifty knocked up to 9678.55, then the Sensex reached 31,347. Finally the Sensex is closed around 31270, while the Nifty closes above 9660.
The BSE 30-share index Sensex closed at a level of 31,271, up by 81 points, or 0.25 percent. On the other hand, NSE’s 50-share index Nifty closed 27 points, i.e. 0.3 percent, at 9,664 level.
SP Tulsyan says that there are many positive signs in June and the rating outlook can be good on India. He has a positive view on the market. SP Tulsyan feels that the implementation of GDP growth, monsoon, GST will benefit. The GDP of fiscal year 2017 has made a little disappointment, but the GDP of fiscal year 2018 will be very good.
SP Tulasyan believes that June series will be good. The Nifty target of 10,000 in the year 2017 could be achieved by Diwali. SP Tulasan is of the opinion that investors do not lose the opportunity of fast and invest in the market for long periods.
Heavyweight auto stocks are in focus today on the exchanges, with Motherson Sumi and Maruti Suzuki India hitting their respective 52-week high.
Maruti Suzuki India Limited, a major automobile manufacturer has touched its Rs 7,000 share price landmark in last Friday’s trading session, recording a gain of 30 percent till May 2017. The stock hit its 52-week high of Rs 7,200 share apiece and is one of the main contributors to the BSE Metal index. Conversely, Motherson Sumi Systems Limited hit its 52-week high of Rs 452.55 per share on the BSE.
Mahindra & Mahindra Ltd (M&M) traded in positive territory rising over 1% at Rs 1,365.05 share apiece on BSE. M&M has recommended a dividend of Rs 13 per share on face value of Rs 5 each. The stock has witnessed a spurt in volume by 2.40 times in Today’s trade. On NSE, the stock has spurted a traded volume of 22,23,721 shares and a traded value of Rs 30,299.09 lakhs in Tuesday’s trade.
Infosys Limited and HP Inc. on Thursday, 25 May 2017 launched joint RPOS (retail point of sale) and enterprise device as a service solutions to accelerate its digital transformation businesses as part of the HP Global System Integrator Alliance Program.
Subsequently, Shares of Infosys Limited rose 0.19 percent to Rs 983.80 today morning on BSE after the IT major announced a strategic alliance with HP Inc. to step up digital transformation for the enterprise. It was announced post market hours yesterday, 25 May 2017.
On the BSE, 17,809 shares were traded in the counter, while the stock had hit a high and low of Rs 990.10 and Rs 980 respectively, so far during the day.
The joint retail POS solution facilitates a digital approach across the supply chain, helping real-time alliance between shoppers, retailers and vendors at the point of purchase.
The consolidated net profit of Infosys Ltd fell 2.8 percent to Rs 3.603 Cr on 0.9 percent decline in revenues to Rs 17,120 Cr, in Q4 FY17 year-on- year.