Markets trade higher in early deals

Buoyed by firm global cues, Indian equity benchmarks are trading in fine fettle in early deals on Monday. Sentiment got boost with a United Nations Industrial Development Organization (UNIDO) report which said that India jumped to 6th place in top-10 manufacturers list. Further, traders were also getting encouragement with the Climate Forecast System (CFS) of the Indian Institute of Tropical Meteorology (IITM) predicting mostly a normal and sometimes heavy rainfall across the country barring some parts. Besides, buying in Auto stocks too aided the sentiment. Tata Motors, Hero Motocorp, TVS Motors, Maruti Suzuki, Bajaj Auto and M&M were trading higher, on account of robust sales in March. Meanwhile, some caution may emerge later as investors patiently wait for the RBI monetary policy review due tomorrow. At present, Sensex and Nifty were trading above the crucial 25,350 and 7,700 levels respectively. Apart from blue chips, broader indices too were trading in green. 

In the scrip specific development, Geometric surged 16 percent on the BSE, after HCL Technologies agreed to buy all of the business done by software firm, except a joint venture the latter has with Dassault Systemes SA, in a share-swap deal valued at $190 million.

On the global front, US markets ended higher on Friday on the back of higher than expected non-farm payrolls data. Asian markets were trading mostly in green following the positive cues from Wall Street on better than expected US jobs as well as manufacturing data.

Back home, all the sectoral indices, barring FMCG and Oil & Gas, were trading in green led by  IT, TECK, Auto, Power and Metal. The market breadth on BSE was positive in the ratio of 1150:436, while 63 scrips remained unchanged.

The BSE Sensex is currently trading at 25354.24, up by 84.60 points or 0.33% after trading in a range of 25322.36 and 25419.19. There were 21 stocks advancing against 8 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.25%, while Small cap index gained 0.43%.

The top gaining sectoral indices on the BSE were IT up by 1.10%, TECK up by 0.98%, Auto up by 0.82%, Power up by 0.70% AND Metal up by 0.44%, while FMCG down by 0.74% and Oil & Gas down by 0.01% were the losing indices on BSE.

The top gainers on the Sensex were Tata Motors up by 2.56%, Bajaj Auto up by 1.94%, Adani Ports &Special up by 1.63%, Infosys up by 1.54% and Bharti Airtel up by 1.12%. On the flip side, ITC down by 2.08%, Lupin down by 1.79%, ONGC down by 0.48%, Sun Pharma Inds. down by 0.43% and Mahindra & Mahindra down by 0.38% were the top losers.

Meanwhile, in order to prevent the country from becoming a dumping yard for industrialized nations, the Environment ministry has announced the new Hazardous Waste Rules to resource recovery and disposal of hazardous waste in environmentally sound manner. For the first time, Rules have been made to distinguish between Hazardous Waste and other wastes. The ambit of the Rules has been expanded by including ‘Other Waste’, which include waste tyre, paper waste, metal scrap, used electronic items, etc. and are recognized as a resource for recycling and reuse. These resources supplement the industrial processes and reduce the load on the virgin resource of the country.

The Hazardous and Other Wastes (Management and Transboundary Movement) Rules, 2016 notified by the Union environment ministry, which replaces its older version made in 2008, has banned the import of waste edible fats and oil of animals, or vegetable origin, Household waste, Critical Care Medical equipment, Tyres for direct re-use purpose, Solid Plastic wastes including Pet bottles, Waste electrical and electronic assemblies scrap and other chemical wastes especially in solvent form.

However, metal scrap, paper waste and various categories of electrical and electronic equipment for re-use purpose can be imported without permission from the environment ministry. The Rules also simplify a range of procedures to merge all the approvals as a single window clearance for setting up of hazardous waste disposal facility and import of other wastes.

E-waste has posed a serious health hazard in the last many years with the range and number of gadgets increasing and their use becoming a part of the habits and lifestyles of people. As per the information furnished by CPCB in the year 2015, the total hazardous waste generation in the country is 7.46 million metric tonnes per annum from about 44,000 industries. The new hazardous waste rules will ensure resource recovery and disposal of hazardous waste in an environmentally sound manner.

The CNX Nifty is currently trading at 7734.90, up by 21.85 points or 0.28% after trading in a range of 7729.95 and 7757.60. There were 38 stocks advancing against 13 stocks declining on the index.

The top gainers on Nifty were Tata Motors up by 2.52%, Idea Cellular up by 2.15%, Bajaj Auto up by 1.86%, Tata Power up by 1.61% and Infosys up by 1.58%. On the flip side, ITC down by 2.10%, Lupin down by 1.97%, Bharti Infratel down by 1.84%, ACC down by 0.99% and Bank Of Baroda down by 0.79% were the top loser

Asian markets were trading mostly in green, KOSPI Index increased 1.56 points or 0.08% to 1,975.13, Shanghai Composite increased 5.62 points or 0.19% to 3,009.53, FTSE Bursa Malaysia KLCI increased 7.05 points or 0.41% to 1,717.60 AND Jakarta Composite increased 9.56 points or 0.2% to 4,852.75.

On the flip side, Hang Seng decreased 277.78 points or 1.34% to 20,498.92 Taiwan Weighted decreased 87.28 points or 1% to 8,657.55 AND Nikkei 225 decreased 40.99 points or 0.25% to 16,123.17.