Sensex, Nifty edge higher as FMCG stocks rise, L&T ITC top gainers

The benchmark BSE Sensex, Nifty closed on higher note on Monday, with consumer stocks like ITC Ltd leading, due to investor’s sentiment got boosted after the govt last week finalized rates for the upcoming GST.  The  BSE Sensex closed higher by 106 pts, or 0.35 percent, to 30,571, while the NSE Nifty-50  index rose 12 pts, or 0.12 percent to 9,439.
The NSE FMCG index gained 2.9% as a record high. Shares of SBI today fell 2.5% percent as investors were watchful on the outlook of its assets quality on the merger of its 5 subsidiary banks, after it reported consolidated loss. SBI merged with the 5 associates and Bharatiya Mahila Bank on first April.
ITC LImited rose 4.8% to an all-time high, while HUL Ltd gained 2 percent. Suzlon Energy Ltd surged 8 percent  to its highest since 6 January 2016 after the renewable energy major posted a Q4 net profit compared with loss a year earlier. Tata Power Ltd  down nearly 4.3% at its lowest since February,  and was among the major losers on the NSE index.
Jet Airways, InterGlobe Aviation and  Spicejet, extended losses. Stock of Jet Airways closed at Rs 480.80/ share, down by 7.40 percent.
Metal shares ended lower. Bhushan Steel slipped 3.66%, Hindustan Copper down 2.71%, JSW Steel shed 0.85%, Hindalco Industries went down 0.84%, Vedanta Ltd down 0.61% and Tata Steel shed 0.49%, among others.

Nifty ends below 9430, ITC, SBI gain, Hudco down

Benchmark indices BSE Sensex closed at 30,464.92, higher by 30.13 points or 0.10%. NSE Nifty-50 index closed at 9,427.90, lower by 1.55 point or 0.02%. BSE Midcap Index closed down 0.7% at 14,644 whereas, BSE Smallcap closed down by 0.8% at 15,227.
There were 572 advancing stocks, against 1084 declines. A total of 300 shares unchanged on NSE, reflecting a bearish undertone floating in the market.
Asian Paints Ltd was the major Nifty loser, while ITC was the top Nifty gainer. FMCG stocks were in limelight today as the GST council approved the tax rates for man products on Thursday. The new tax rates are expected to boost the consumption of the FMCG items since the prices are speculated to come down.
Among other gainers, Bank of Baroda rose 4.5% after the bank reported a net profit of Rs. 155.00 Cr, for the Q4FY17, compared with a net loss in the last year. SBI was up 2.1 percent ahead of its Q4 results later in the day.
The HUDCO debuted on BSE at Rs 73.45 share apiece at a premium of 22.41 percent. The stock closed at Rs 71.85 share apiece lower by Rs 1.15/ share or 1.5 percent.

Sensex closes down 224 pts, Nifty sheds over 1%, IT rally arrests the slide

The benchmark BSE Sensex fell from it record highs today tracking Asian peers and weak global stocks. The BSE Sensex, lost 223.98 points or 0.73% at 30,434.79, while the Nifty50 index was down 96.30 points or 1.01% at 9,429.45, as per closing data.

The broad market showed weakness. There were almost 3 losers against every gainer on BSE. 2,043 shares declined, 702 shares advanced and a total of 165 shares were unchanged.

Realty sector stocks declined sharply, led by index heavyweights ITC, RIL and L&T. Index heavyweight Reliance Industries dropped 1.87 percent to Rs 1,327.00. The stock hit a high and low of Rs 1,352 and Rs 1,323.30 respectively.

Shares of Bajaj Auto lost 2.54 % after its net profit dipped 13.44% to Rs 862.25 Cr, on 8.7 percent decline in total revenue from operations to Rs 5,212.83 Cr, in Q4 March 2017 year on year.

Apollo Hospitals shares fell about 2.66%. United Breweries Ltd, Kingfisher Breweries, dropped 4.8% after announcing an 87% fall in profit for the March-quarter. European and Asian stocks edged lower as concerns over the fallout from chaos in Washington prompted investors to unload risky assets such as equities.