Key benchmark indices edged higher in early trade tracking positive Asian peers. At 9:18 IST, the barometer index, the S&P BSE Sensex, was up 127.24 points or 0.43% at 29,747.74. The Nifty 50 index was up 31.30 points or 0.34% at 9,205.05.
The BSE Mid-Cap index was up 0.33%, underperforming the Sensex. The BSE Small-Cap index rose 0.65%, outperforming the Sensex.
The breadth, indicating the overall health of the market, was strong. On the BSE, 1,067 shares rose and 304 shares declined.
Among stocks, BPCL (down 0.76%), HPCL (down 0.44%) and Indian Oil Corporation (IOCL) (down 0.83%) edged lower. IOCL on Friday, 31 March 2017, announced decrease in selling price of petrol and diesel with effect from midnight of 31 March 2017. Petrol price was decreased by Rs 3.77 per litre and diesel price was reduced by Rs 2.91 a litre at Delhi (excluding state levies).
Indiabulls Housing Finance was down 0.19%. The company said that it has on Friday, 31 March 2017, allotted its fourteenth tranche of secured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 37.5 crore. This was part of the company's proposal announced in November 2016, to issue, secured, redeemable, NCDs aggregating Rs 6000 crore, on a private placement basis. The announcement was made after market hours on Friday, 31 March 2017.
Maruti Suzuki India (MSIL) rose 0.45% after the company reported total sales 8.1% growth in total sales to 1.39 lakh units in March 2017 over March 2016. The company's total domestic sales rose 7.7% to 1.27 lakh units in March 2017 over March 2016. Exports grew by 12.6% to 11,764 units in March 2017 over March 2016. The announcement was made on Saturday, 1 April 2017.
Mahindra & Mahindras (M&M) advanced 1.11% after the company's total auto sales rose 6% to 56,031 units in March 2017 over March 2016. M&M's total tractor sales rose 32% to 19,337 units in March 2017 over March 2016. The announcement was made on Sunday, 2 April 2017.
Tata Motors rose 0.98% after the company said its passenger and commercial vehicle total sales rose 8% to 57,145 vehicles in March 2017 over March 2016. The announcement was made on Saturday, 1 April 2017.
Among economic data, the output of eight core industries comprising nearly 38% of the weight of items included in the Index of Industrial Production (IIP) rose at moderated pace of 1% in February 2017, compared with 3.4% growth recorded in January 2017. The data was released by the government after market hours on Friday, 31 March 2017.
Another data released after market hours on Friday, 31 March 2017 showed that India's external debt stock fell by $29 billion (6%) to $456.1 billion, at end-December 2016 over the level at end-March 2016. The decline in external debt during the period was due to the fall in long-term external debt, particularly the fall in NRI deposits reflecting the redemption of FCNR (B) deposits and decline in commercial borrowings with fall in both commercial bank loans and securitized borrowings. On a sequential basis, total external debt at end-December 2016 declined by $28.1 billion (5.8%) from the end-September 2016 level.
Overseas, Asian shares were mostly higher. US stocks closed lower on Friday, 31 March 2017, as investors digested a slew of economic data. In economic news, personal income rose 0.4% in February, while consumer spending rose 0.1%.
Among global developments, US President Donald was quoted as saying that the US will take unilateral action to eliminate nuclear threats from North Korea, unless China, one of the hermit state's closest ally, intensifies pressure on Pyongyang. Trump and Chinese President Xi Jinping are scheduled to meet in this week for a two-day meeting.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)