1. Sensex, Nifty recover from yesterday’s fall amid positive global cues

Sensex, Nifty recover from yesterday’s fall amid positive global cues

After falling sharply yesterday, Indian markets opened on a strong positive note today as GST rates announced yesterday boosted investor sentiment and the impact of uncertainty over Donald Trump's future seemed short lived.

By: | Updated: May 19, 2017 3:35 PM
At 9:28 am, BSE Sensex was trading at 30,617.42 points, up 0.60% while NSE Nifty was trading at 9484.25 points, up 0.58%.

After falling sharply yesterday, Indian markets opened on a strong positive note today as GST rates announced yesterday boosted investor sentiment and the impact of uncertainty over Donald Trump’s future seemed short lived. BSE Sensex opened 104.86 points higher at 30539.65 points while NSE Nifty, the broader gauge, opened 40 points higher at 9,469.90 points. At 9:28 am, BSE Sensex was trading at 30,617.42 points, up 0.60% while NSE Nifty was trading at 9484.25 points, up 0.58%.

Current Gainers on the BSE include ITC up 5.12% to Rs 292.30; Hindustan Unilever up 2.04% to Rs 1,007.50; Coal India up 1.99% at Rs 282.00, while current laggards include Tata Consultancy Services down 1.27% at Rs 2,502.00; Infosys down 1.08% at Rs 951.30 and Gas Authority of India Limited down 0.84% at Rs 401.75.

Last night, the US markets recovered from their biggest sell-off in the current year after reports of President Donald Trump interfering in a Federal investigation surfaced. In yesterday’s trade, the Dow Jones Industrial Average gained 56.09 points, or 0.27 percent, to close at 20,663 points. The S&P500 index rose 8.69 points, or 0.37 percent, to 2,365 points. The NASDAQ Composite index advanced 43.89 points, or 0.73 percent, to close at 6,055 points.

The dollar index, which tracks the greenback against a basket of six major peers, was also steady at 97.83, after gaining 0.3 percent on Thursday.

Back home, GST rates were declared yesterday, wherein nearly 1211 items have been included under the tax bracket of 18% which will lead to lower prices for most of the essential items.

The rupee opened higher and at 9:40 am was trading at 64.78 against the US dollar, a gain of 6 paise from its close on Thursday where it fell by a massive 69 paise to end at 64.84 against the US dollar amid heightened global volatility. Yesterday’s fall was the biggest in a single day for the rupee since July 26, 2016.

Market major SBI and Tata Power will announce their fourth quarter results today.

Today the Asian markets across Japan, Korea and Australia were trading mixed in early morning trade.

The dollar index, which tracks the greenback against a basket of six major peers, was also steady at 97.83, after gaining 0.3 percent on Thursday.

Crude oil prices continued their gains for the third straight session on optimism that producers will agree to rein in output for longer in order to soak up a global glut. US crude rose 0.2 percent to USD 49.46 a barrel and was poised to end the week 3.4 percent higher.

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