Markets

News Details

( 21 Jun 2018)
Markets open higher in early trade

The key domestic benchmark indices opened higher in the morning trading session amid mixed trend among Asian peers.

On the economy front, the markets may react to a report that India's merchandise exports in May rose 20.2 percent year-on-year, but the trade deficit widened to USD 14.62 billion, driven mainly by a 50 percent surge in its oil import bill, on higher global prices. Also, SEBI is likely to discuss proposed overhaul of governance norms for market infrastructure institutions as well as amendments to buyback and takeover norms.

On the IPO front, the primary market is expected to remain robust in 2018 with Dalal Street looking at over Rs 35,000 crore of IPOs. Also, the initial public offer of Fine Organic Industries has been subscribed 12 percent so far on the first day of bidding on Wednesday. Also, the initial public offer of RITES has been subscribed 0.60 times so far on the first day of bidding on Wednesday.

At 09:20 a.m the Bombay Stock Exchange bellwether Sensex was trading at 35636.62 up by 89.29 points or by 0.25 per cent, while the NSE Nifty was at 10801.65 up by 29.6 points or by 0.27 per cent.

The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 378.00,+1.54 per cent), Wipro Ltd. (Rs. 263.00,+1.23 per cent), Axis Bank Ltd. (Rs. 523.95,+0.92 per cent), Tata Motors Ltd. (Rs. 182.95,+0.88 per cent), Tata Steel Ltd. (Rs. 568.00,+0.83 per cent), among others.

Meanwhile, Maruti Suzuki India Ltd. (Rs. 8920.00,-0.31 per cent), Hindustan Unilever Ltd. (Rs. 1598.50,-0.24 per cent), Coal India Ltd. (Rs. 270.05,-0.20 per cent), IndusInd Bank Ltd. (Rs. 1965.00,-0.12 per cent), Power Grid Corporation of India Ltd. (Rs. 199.50,-0.05 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 406, shares advanced were 242 while 143 shares declined and 21 were unchanged.

On the global front, Asian stocks were trading mixed as investors sought bargains, from the US-China trade war, while the Wall Street closed mixed in the previous trading session as US trade concerns lingered.