Economy

Markets rise on back of Asian cues, Nifty nears 10000-mark

Markets rise on back of Asian cues, Nifty nears 10000-mark”

Indian markets kicked off Monday's trading session on positive note with Sensex opening higher by almost 180 points amid good performance of global peers. At 9.33 a.m, the Sensex was trading up 177.32 points or 0.56% at 31,864.84 with 27 components gaining.

Auto stocks gained on stock exchanges as the increased GST cess on mid- sized, luxury and SUV cars will come into effect from Monday (September 11, 2017).

The GST Council on September 9 chose to hike cess on mid-sized cars by 2%, taking the effective GST rate to 45%. The pan-European Stoxx Europe 600 index rose 0.2 percent.

European markets fluctuated before closing slightly higher on Friday even as a rising euro put exporters under pressure and mining stocks sagged after the release of disappointing exports data from China. "Pharma space which saw declines on back of draft guidelines could also see recovery", added Motilal.

Major gainers in the 30-share index were GAIL (India) (4.65%), Tata Power Company (1.56%), Bharat Heavy Electricals (1.45%), Larsen & Toubro (1.37%), Dr Reddy'S Laboratories (1.31%), and Reliance Industries (1.04%).

Rupee up: The rupee closed at 63.79 a dollar on Friday, a level last seen on 8 August, up 0.41% from its Thursday's close of 64.05.

Brokers said that sentiments were high largely due to a firming trend in other Asian markets as concerns over North Korea eased and hurricane Irma's force waned.

Asian stocks are broadly higher after North Korea refrained from launching more missiles at the weekend.



Like this

loading...
loading...

Latest


11 Сентября 2017
Yale University Cut Its Antero Res Corp (AR) Holding by $26.41 Million
The formula is calculated by looking at companies that have a high earnings yield as well as a high return on invested capital. The Current Ratio is used by investors to determine whether a company can pay short term and long term debts.

11 Сентября 2017
Local couple on honeymoon in Dominican Republic caught up in Hurricane Irma
Air Transat says 10 aircraft were sent to the Dominican Republic to load passengers Wednesday morning. A local couple holidaying in the Caribbean say they are in lock-down since Wednesday evening.

11 Сентября 2017
Tredje AP fonden Has $3904000 Holdings in Netflix, Inc. (NFLX)
Bernstein set a $203.00 price target on shares of Netflix and gave the company a buy rating in a report on Wednesday, August 30th. Following the sale, the director now directly owns 8,412 shares of the company's stock, valued at approximately $1,057,640.76.

11 Сентября 2017
Yum China Holdings Inc (YUMC) Shares Sold by BB&T Securities LLC
Yum! Brands has a 52 week low of $59.57 and a 52 week high of $91.99 with a P/E ratio of 20.41 The company's market cap is now $0. Westpac Banking cut its holdings in stocks of Yum! The company was maintained on Wednesday, October 21 by RBC Capital Markets.

11 Сентября 2017
Putin Reluctant To Cut Off North Korean Oil Supplies
But few in the USA government have advocated direct talks with the North Koreans until their behavior significantly changes. Do you think they'll give it up now?" But broadly, public opinion is sympathetic toward the harsher rhetoric, Kim said.

11 Сентября 2017
Anil Kapoor's 50 Hour Transformation in Fanney Khan!
His latest picture suggests that " Fanney Khan " is a man of simple of tastes and doesn't like to get into complicated situations. Anil Kapoor has time and again set an exemplary example of reinventing himself.

11 Сентября 2017
United States seeks to freeze assets of North Korea's Kim Jong
The new draft resolution would impose a complete ban on the hiring and payment of North Korean laborers overseas . It was not immediately clear if the draft resolution had the support of North Korean ally China.

11 Сентября 2017
Trevor Bayliss not expecting new faces in Ashes squad
No one has nailed it down and we have got a bit of time. "There were two hard weeks, but what is most pleasing is the resilience and character to come back from both of those with two extra strong performances", said Root.

11 Сентября 2017
SCIENCE APPLICATIONS INTERNATIO (SAIC) Saw a New 52-Week Low
Symphony Asset Mgmt Ltd Liability Co has invested 0.07% of its portfolio in Science Applications International Corp (NYSE:SAIC). SCIENCE APPLICATIONS INTERNATIONAL CORPORATION has an average rating of "Hold" and a consensus target price of $80.00.

11 Сентября 2017
Everton boss Koeman brands transfer market 'ridiculous'
He continued: "It doesn't bother me (the fee) - but the money being spent in football is insane ". The 28-year-old said: "I think we have to be patient".