Bourses back in green

After a short time volatility, Indian equity bourses came back in green terrain during late afternoon deals, following firm European markets. In line with the larger peers, the broader markets were too trading higher with notable gains. Domestic sentiments turned positive, with the department for promotion of industry and internal trade's (DPIIT) Secretary Ramesh Abhishek’s statement that National Retail Policy will streamline the retail trade in India and is poised to provide the ease of doing business, which may be to the advantage of both traders and Indian economy. Some support also came with reports that RBI’s panel recommended financial support of Rs 15,000 crore to the micro, small and medium enterprises (MSME) sector.

On the global front, European markets were trading in green, even though Eurozone economic sentiment deteriorated more-than-expected in June. The survey data from the European Commission showed that the economic sentiment index dropped to 103.3 in June from 105.2 in May. The score was forecast to fall to 104.7. The industrial sentiment index declined to -5.6 from -2.9 a month ago. The expected reading was -3.0. Asian markets were also trading in green.

Back home, stocks related to the logistic industry were in focus, after Minister of Commerce and Industry and Railways, Piyush Goyal reviewed the draft National Logistics Policy. The minister proposed an action plan for the implementation of the policy prepared by the Department of Logistics, which comes under the Commerce Ministry.

The BSE Sensex is currently trading at 39709.88, up by 117.80 points or 0.30% after trading in a range of 39548.91 and 39817.22. There were 21 stocks advancing against 10 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.30%, while Small cap index was up by 0.53%.

The top gaining sectoral indices on the BSE were Realty up by 1.90%, Auto up by 1.49%, Consumer Disc up by 0.84%, Bankex up by 0.70% and Industrials up by 0.62%, while IT down by 0.52%, TECK down by 0.46% and Energy down by 0.31% were the few losing indices on BSE.

The top gainers on the Sensex were Tata Motors - DVR up by 5.10%, Tata Motors up by 3.48%, Mahindra & Mahindra up by 2.24%, Hero MotoCorp up by 1.26% and ONGC up by 1.22%. On the flip side, Tech Mahindra down by 1.98%, HCL Tech down by 1.15%, Power Grid down by 1.12%, Reliance Industries down by 0.83% and Bharti Airtel down by 0.80% were the top losers.

Meanwhile, highlighting benefits of the much-awaited National Retail Policy, the department for promotion of industry and internal trade's (DPIIT) Secretary Ramesh Abhishek said that this policy will streamline the retail trade in India and is poised to provide the ease of doing business, which may be to the advantage of both traders and Indian economy.

The DPIIT along with various stakeholders including trade associations, concerned ministries and state government representatives had meeting for discussion on the proposed policy.

Earlier, the Confederation of All India Traders (CAIT) stated that the government is expected to release a draft of national retail policy in the next 10 days for comments.

The CNX Nifty is currently trading at 11885.25, up by 37.70 points or 0.32% after trading in a range of 11829.95 and 11911.15. There were 34 stocks advancing against 16 stocks declining on the index.

The top gainers on Nifty were Tata Motors up by 3.69%, Indiabulls Housing Finance up by 3.31%, Mahindra & Mahindra up by 2.21%, Eicher Motors up by 1.93% and Bharti Infratel up by 1.75%. On the flip side, Tech Mahindra down by 1.94%, Adani Ports & SEZ down by 1.63%, UPL down by 1.46%, Wipro down by 1.35% and HCL Tech. down by 1.05% were the top losers.

All Asian markets were trading in green; Shanghai Composite gained 16.00 points or 0.54% to 2,992.28, KOSPI rose 12.47 points or 0.59% to 2,134.32, Nikkei 225 surged 251.58 points or 1.19% to 21,338.17, Straits Times advanced 22.39 points or 0.68% to 3,323.64, Taiwan Weighted strengthened 121.35 points or 1.14% to 10,773.90, Hang Seng increased 361.36 points or 1.28% to 28,583.34 and Jakarta Composite was up by 42.83 points or 0.68% to 6,353.32. 

All European markets were trading in green; FTSE gained 6.21 points or 0.08% to 7,422.60, CAC rose 0.73 points or 0.01% to 5,501.45 and DAX was up by 59.22 points or 0.48% to 12,304.54.