Market Positive But Midcap Wins The Race

Apr 20, 2017 | 05:54 PM IST

daily market news 13 june

Stock Market News - 20 April 2017

Market opened positive and remained range bound with a positive bias in afternoon. But Nifty Midcap index gained 0.7% and Small cap rose 1% on strong buying as much as 155 stocks on the BSE across groups hit a fresh 52-week high. Sensex gained 85.82 points to 29422.39; Nifty gained 32.90 points to 9136.40

Top Gainers:

Grasim by 5.54% to 1142.10, Bank of Baroda by 2.69% to 179.55, GAIL by 2.64% to 404.20, Indiabulls Housing Finance by 2.39% to 980 and by Adani Ports by 2.09% to 332.60.

Top Losers:

Yes Bank by 3.73% to 1545.50, ICICI bank by 2.67% to 273.05, Axis bank by 2.25% to 488.25, IOC by 1.83% to 427.30 and Tata power by 1.58% to 84.30.

Key Market Drivers:

Director of the IMF Fiscal Affairs Department told reporters at a news conference that "India has recorded quite an impressive growth performance in recent years. Our view is that the elimination of fuel subsidies and the targeting of social benefits has delivered in terms of allowing the union budget target to be achieved at 3.5% of GDP, We have been collaborating with the Indian authorities in terms of looking at fiscal structural measures, including expenditure rationalisation while protecting infrastructure investment, tax broadening efforts.

To make the banking sector resilient to non-performing asset (NPA) shocks, the Reserve Bank of India has come out with stricter norms for banks. RBI asked banks to provide more for standard loans which are stressed. It said boards must put in a policy to consider aspects like debt-equity ratio, interest coverage. The policy should also consider aspects like profit margins.

Balkrishna Industries, Mahanagar Gas, Berger Paints, Can Fin Homes, MCX, Nestle India, Godfrey Phillips, Bajaj Finserv, Balrampur Chini, Raymond and Fortis Healthcare are other firms which will be included in the derivative segment.

Share Market Tips:

Stock to Watch: MRF is on the upside and Yes bank is on the downside.

 

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