.png)
The domestic equity barometers sharply pared losses as they bounced back from the day's low in mid-morning trade. The Nifty traded above the 17,700 level after hitting the day's low at 17,668.90 in morning trade. FMCG stocks recorded some bit of profit taking after continuously advancing in the past three sessions.
The barometer index, the S&P BSE Sensex, was down 101.14 or 0.17% to 60,246.95. The Nifty 50 index lost 32.25 points or 0.18% to 17,722.15.
In the broader market, the S&P BSE Mid-Cap index rose 0.26% while the S&P BSE Small-Cap index gained 0.32%.
The market breadth was positive. On the BSE, 1,835 shares rose and 1,424 shares fell. A total of 152 shares were unchanged.
Buzzing Index:
The Nifty FMCG index declined 0.48% to 45,501.65. The index had gained 1.99% in the past three sessions.
ITC (down 1.1%), Godrej Consumer Products (down 0.71%), Tata Consumer Products (down 0.43%), Hindustan Unilever (down 0.33%) and Marico (down 0.2%) were the top losers.
Among the other losers were Colgate-Palmolive (India) (down 0.13%), United Breweries (down 0.12%), Procter & Gamble Hygiene and Health Care (down 0.12%), Britannia Industries (down 0.08%) and Dabur India (down 0.07%).
On the other hand, Varun Beverages (up 2.06%), Emami (up 0.59%) and United Spirits (up 0.47%) moved up.
Stocks in Spotlight:
Power Grid Corporation of India added 0.70%. The company has announced its plans to issue unsecured, non-convertible, non-cumulative, redeemable, taxable PowerGrid bonds-LXXI aggregating upto Rs 900 crore on private placement basis. The PSU's committee of directors for bonds has approved issue of bonds having base size of upto Rs 300 crore and green shoe option upto Rs 600 crore.
Religare Enterprises jumped 8.04%. The company said that its subsidiary, Religare Finvest (RFL) has completed the entire one time settlement (OTS) payment of Rs 2,178 crore to sixteen OTS lenders. RFL will receive the No-Dues Certificates (NDC) from the OTS lenders as per the terms of the OTS agreement.
Sequent Scientific zoomed 13.16%. The company said that it will not acquire Tineta Pharma and the share purchase agreement entered by the company with Tineta and its promoters stands terminated.
Global markets:
Asian shares traded in a mixed manner on Thursday as Bank of Japan kicks off its two-day monetary policy meeting.
Japan's GDP grew slower at 0.1% on an annualized for the October-December quarter. The reading is weaker compared with preliminary estimates of a 0.6% growth, and also comes in lower than a 0.8% expansion. Private consumption, which accounts for around 57% of Japan's GDP, inched up by only 0.3%.
Meanwhile, China's consumer price index (CPI) for February was 1.0% higher than a year earlier, rising at the slowest pace since February 2022 and compared with the 2.1% annual rise seen in January, said the National Bureau of Statistics (NBS).
In the US, major stock indexes ended mixed as traders parsed stronger than expected economic data, sparking concerns of bigger rate increases following Fed Chairman Jerome Powell's congressional speech.
Stronger-than-expected private payrolls numbers for February reaffirmed the strength of the US economy. Private employment increased by 242,000 jobs last month, the ADP National Employment report showed on Wednesday. Data for January was revised higher to show 119,000 jobs added instead of 106,000 as previously reported.
Vacancies at US employers retreated at the start of the year but remained historically elevated. The number of available positions decreased to 10.8 million in January from an upwardly revised 11.2 million a month earlier, the Labor Department's Job Openings and Labor Turnover Survey, or JOLTS, showed Wednesday.
No comments:
Post a Comment