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Markets will remain closed on 19th & 20th October 2017.
We wish all our readers a very Happy Diwali!

Indian markets falter for third day
Wed, 11 Mar 03:30 pm

Indian markets showed positive movements on the back of encouraging developments in the European market, however pared gains later on. The European Commission Board stated that the bond purchase program has started. BSE-Sensex is trading down by 0.2% or 60 points while NSE-Nifty is trading in the red by 0.2% or 20 points. Marginal gains are witnessed in information technology, banks and FMCG, however, metals continue to remain the highest loser.

S&P BSE Midcap and S&P BSE Smallcap underperformed today's market performance as they continued to trade in the negative. Midcap stocks are trading in the red with 0.4% losses while smallcap stocks are trading with 0.3% losses. Commodities are trading flattish. Gold prices per 10 grams, declined 0.1% or Rs 5 to Rs 25,900 levels, while Silver prices, per kilogram increased 0.1% to Rs 35,745. Crude oil prices, per barrel, have increased marginally to Rs 3,062.

European markets received a major boost as ECB announced that it has started the bond purchase program. This instantly provided the positive catalyst the market was looking for. All the European markets, DAX, CAC and FTSE have gained over 1% in today's trading session. However, scepticism over Greece's bailout remains on shore.

Power companies were the biggest beneficiaries of the coal auction. Shares of CESC jumped over 5% after the West Bengal Electricity Regulatory Commission approved a tariff plan at the rate of Rs 6.98 per unit. The pricing will benefit in a way that experts can value the company's two years earnings based on this price. According to leading financial sources, CESC might face a positive re-rating which would make investor sentiment optimistic.

Healthcare sector faced selling pressure with heavyweight companies such as Lupin and Sun Pharma falling over 1%. However, Shilpa Medicare gained over 10% as it awaits approval for two of its sites by US Food and Drug Administration. Both the sites are located at Raichur. The company has had approval from European countries, Japan and Mexico for the largest API facility of oncology in India. It now awaits US FDA approval for these two facilities. The auditors had come last week for inspection.

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Oct 19, 2017 (Close)

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