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.

Harman Kardon's Invoke speaker with Microsoft Cortana revealed
The Harman Kardon Invoke has been listed on the Harman Kardon website along with some details about the device. A teaser was also shown off past year revealing the name as well as the highlight, which is of course Cortana.

Always Dreaming wins 2017 Kentucky Derby
Before Saturday, Pletcher had sent 45 horses to the gate over 16 years, a lot of them regally bred and even more insanely hyped. The second step I had to ask him to break. "I was ready to engage ( Always Dreaming); he just kind of quit running on me".

"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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