Indian benchmark indices were under pressure for the second consecutive day today in a volatile session. BSE Sensex closed 30.13 points up or 0.1% at 30,464.92 points, while Nifty, the broader gauge, ended lower by 1.55 points or 0.02% at 9,427.90 points.
FMCG sector stocks were in focus today as the GST council approved tax rates for various products on Thursday. The new tax rates are likely to boost the consumption of the FMCG products as prices are speculated to come down. FMCG majors, ITC and HUL were the top gainers on both the indices, while Asian Paints, Mahindra & Mahindra and BPCL lost the most.
Earlier in the day, Sensex had a gap up opening and rallied more than 200 points but came under selling pressure as bears took charge in a volatile session.
On the earnings front, State Bank of India (SBI) today reported a 122 percent year-on-year rise in net profit for the quarter ended 31 March 2017 to Rs 2,814 crore against Rs 1,263.81 crore in the corresponding quarter of last year. The bank’s net interest income rose by 17.3 percent on-year basis to Rs 18,070.7 crore from Rs 15,401.30 crore last year.
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In the futures and options segment, BSE will introduce F&O contracts in five companies, including RBL Bank and state-run National Aluminium Company (Nalco), from May 26. Hindustan Construction Company, Kajaria Ceramics, and Ramco Cements are other companies in which F&O trading has been allowed.
Gold prices fell Rs 64 or 0.22% to Rs 28,641.00 per 10 gram, while silver gained Rs 151 or 0.39% to Rs 39,040 per Kg. The rupee fell 10 paise to close at 64.74 against the US Dollar.
A total of 14 scrips on the 30-share Sensex fell whereas 16 scrips ended higher, while on the 51-share Nifty, 19 scrips advanced while 32 scrips declined.
The total turnover on BSE amounted to Rs 4,311.27 crore, falling from Rs 6,808.38 crore registered during the yesterday’s trading session. Market breadth turned negative as on the BSE 1,789 stocks declined while 957 stocks advanced and 165 remained unchanged.
The total market cap of BSE Sensex was Rs 51.3984 lakh crore. The Price to Earnings (PE) multiple of the Sensex stood at 22.82 while its Price to Book value (PB) multiple was at 2.92 and the Dividend Yield was at 1.33.