Published: Fri, August 18, 2017
Culture | By Henry Herrera

Equities trade in green; metal, oil&gas stocks buoy sentiments

Equities trade in green; metal, oil&gas stocks buoy sentiments

Shares of Infosys, India's No. 2 software services exporter, rose as much as 3.6% after the company said on Wednesday its board would consider a proposal to buy back shares at a meeting later this month.

Asian stocks edged higher on Thursday, as tensions between the United States and North Korea came off the boil, while the Federal Reserve's concerns about weak USA inflation weighed on the dollar, reported in Reuters.

Cigarette stocks gained. VST Industries jumped 3 percent, Godfrey Phillips India advanced 6 percent while ITC rose 1 percent.

Forex and money markets are closed today on account of "Parsi New Year".

In the broader markets, midcaps continued to witness a good day, though it also saw selling pressure in the final hour. "Metals, Pharma and banking stocks saw a recovery". Trading window on the scrip has been closed and will resume only on August 22.

Benchmark indices opened on a positive note on Thursday amid firm trading in other Asian markets after recent minutes from US Fed policy meet suggests policymakers there were wary of weak inflation, with some calling for a halt interest rate hikes until a clear trend emerges.

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Desai pointed out that consumer stocks gained as the Nifty FMCG index rose almost 2 per cent in its biggest intra-day percentage gain in over a month, recovering from recent losses sparked by worries about the impact from India's new goods and services tax.

Mumbai: The benchmark Sensex pared early gains, quoting up 42.71 points at 31,491.74 in a choppy trade amid sustained capital outflows.

The Nifty50 of the National Stock Exchange (NSE) traded above the psychologically important 9,900-level. Similarly, the major losers in BSE Sensex were PowerGrid with 219 points down followed by Tata Motors, Kotak Bank and Hindustan Lever at 387, 994 and 1176 points low during early morning trade.

BSE Sensex gained 148 points and NSE advanced 48 points to open at 31,919.17 points and 9,945.55 points respectively.

Nifty too was leading in the green by 0.25% to 9921.80. Infosys, HDFC, and Vedanta were the top gainers on both indices, while Bajaj Auto, HUL, Power Grid and Zee Entertainment lost the most.

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