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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian share markets remain firm 
(Tue, 31 Mar 01:30 pm) 
 
Indian markets extended their gains in the mid-session as Indian equities continue to gain investors' attention. While the BSE-Sensex has gained about 100 points, NSE-Nifty has gained about 40 points. Almost all the sectoral indices are trading with moderate gains, however, oil and gas sector has outperformed with nearly 2% gains. IT sector is trading with moderate losses of about 0.2%. S&P BSE Midcap and S&P BSE Smallcap indices have outperformed today's market. Midcap stocks have gained about 0.7% while the smallcap stocks have gained over 1%.

Commodities extended their losses in the mid-session. While Gold price, per 10 grams is trading with moderate losses of 0.3% or Rs 86, silver price fell by about 1% or Rs 366 and is trading at Rs 37,100 per kilogram. Crude oil prices, however, has gained ground amidst a development that Saudi-led army and allies have launched fresh attacks in Yemen. Additionally, the deadline over Iran sealing the nuclear deal also weighed on crude oil prices. Crude oil, per barrel, pared early losses and is trading with slight gains of 0.07% or Rs 2 at Rs 3,019. Dollar value against the Indian Rupee declined 0.14% or Rs 0.09 and is available at Rs 62.58 levels.

Banking stocks are trading with moderate profits as a couple of private sector banks slashed their deposit rates on selected securities. ICICI banks lowered the bulk deposit rates by 0.25% to 8.0% from previous deposit rate of 8.25%. This deduction in rates, however, will be applicable on those deposits whose value is Rs 10 mn or higher. Additionally, the tenure of the deposit should be in between 121-150 days. This interest rate is also applicable on those term deposits whose value is higher than Rs 50 mn and its maturity period is between 61 - 90 days. Like ICICI bank, HDFC bank also lowered its interest rates on deposits above Rs 50 mn. Shares of ICICI bank traded with moderate gain of 0.3%.

Shares of search company Just Dial traded on flat note as Tiger Global sold its 3.41% worth of holding in an open market transaction. The 3.41% stake is valued to be nearly Rs 3bn. On December 31, 2014, Tiger Global had offloaded about 13.22% stake. However, on the other hand, investment bank, Goldman Sachs bought about 1.94 million shares of Just Dial that is valued to be around Rs 2.43 bn. The company, Just Dial was permitted by the Reserve Bank of India, in November last year, to raise about 75% of its paid-up capital from foreign sources under the portfolio investment scheme (PIS).

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May 26, 2017 (Close)

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