Published: Fri, May 12, 2017
Research | By Elizabeth Houston

Foreign funds' inflows lift Indian equities to new highs

Foreign funds' inflows lift Indian equities to new highs

The party continues on Indian stock markets, with the benchmark indices consolidating their previous day's gains and hitting new highs on Thursday in early trade, tracking bullish Asian cues.

After a strong opening, the 30-share BSE Sensex raced to hit a fresh intra-day high of 30271.60 before ending at 30248.17, up 314.92 points, or 1.05 per cent, over its previous close of 29933.25.

The Sensex has so far touched a high of 30,016.04 points - crossing the important 30,000-mark - and a low of 29,877.41 points during the day's trade.

The market breadth turned negative as 1,583 stocks closed in red, while 1,247 finished in green and 162 ruled steady. "Both the benchmark indices are now witnessing firm sentiments and we expect the Indian equities to continue with firm trades in the second half of the session as well".

The FMCG index and pharmaceutical stocks made marginal gains, while the IT index dropped by 0.5%.

In investments, provisional data with the exchanges showed that FIIs purchased stocks worth Rs 893.36 crore, while domestic institutional investors (DIIs) divested scrip worth Rs 229.73 crore.

Patanjali doubles turnover to Rs10,561 crore, to double sales in FY18
Patanjali Ayurved Limited, Haridwar-based FMCG company, has recorded a turnover of Rs 10,561 crore in 2016-17. From around Rs 2,000 crore in 2014-15, the company has managed to grow its revenue exponentially.

BCCI confirms India's Champions Trophy participation
The All-India Senior Selection Meeting will now be held tomorrow, May 8, in New Delhi to pick the team for the Champions Trophy. The top eight sides in the world rankings compete in the Champions Trophy with India winning the last edition in 2013.

Turkey deploys 'anti-Kurdish' reinforcements to Syria amid escalation
USA troops have since been seen patrolling the tense border. "But in reality Erdogan has obtained nothing for now", he said . Turkey has made clear it will use force to prevent the development of a Kurdish-controlled area on its Syrian doorstep.

"Banking sector stocks traded with mixed sentiments throughout the session due to profit booking, whereas auto stocks extended last session's gain on strong buying support", Desai told IANS. All sectoral indices led by realty, consumer durables, metal, power and capital goods were trading in the positive terrain, rising up to 1.96 per cent.

Midcaps gained nearly a per cent, while metals and banks gained around half per cent.

Lupin surged the most by climbing 2.32 per cent, followed by Bharti Airtel (1.91 per cent) ahead of its quarterly earnings tomorrow.

HCL Technologies, a constituent of the Nifty, fell 0.4% to 838.65 rupees.

Zee Entertainment Enterprises jumped 5.7% to 545.35 rupees, taking its two-day gains to almost 10%. Shanghai Composite Index fell 0.03 per cent. Hong Kong's Hang Seng rose 0.36 per cent, while Japan's Nikkei shed 0.26 per cent in early trade. BSE Small-cap index closed higher by 0.53% at 15,544.

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