News Mid-Session

Strong market breadth
07-Jun-18   13:29 Hrs IST

Buying frenzy in index pivotals especially RIL, ICICI Bank and Infosys propelled the key benchmark indices to fresh intraday high in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 438.15 points or 1.25% at 35,617.03. The Nifty 50 index was up 129.70 points or 1.21% at 10,814.35. Positive leads from Asian markets and overnight rally on the Wall Street boosted sentiment. Sustained buying by domestic institutional investors also supported shares.

Broader market witnessed strong buying support. Among secondary barometers, the BSE Mid-Cap index was up 1.36%. The BSE Small-Cap index was up 2%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1896 shares rose and 616 shares fell. A total of 100 shares were unchanged.

Tata Steel (up 3.33%), Axis Bank (up 3.22%), ICICI Bank (up 2.78%), Tata Motors (up 2.44%) and RIL (up 2.19%) edged higher from the Sensex pack.

Tata Consultancy Services (TCS) rose 1.09% after the company announced that Bahrain National Holding (BNH) has selected TCS BaNCS for insurance as part of its transformation strategy to enhance both enterprise agility and customer- centric growth in Bahrain. The announcement was made during market hours today, 7 June 2018.

Power Grid Corporation of India rose 0.17%. POWERGRID Parli Transmission, a 100% wholly owned subsidiary of Power Grid Corporation of India, secured through tariff based competitive bidding (TBCB), has successfully completed the Project-progressively and the same has been declared commercial operation on 4 June 2018. The announcement was made during market hours today, 7 June 2018.

Majesco rose 4.45% after the company announced that a new start-up selected Majesco Core Suite for P&C platform on the Majesco Cloudlnsurer platform to support their market launch and growth strategies in a SaaS model. The evaluation process was rapid and focused on minimum viable product that could leverage out-of-thebox capabilities as much as possible to achieve speed to value. The announcement was made during market hours yesterday, 6 June 2018.

Majesco Cloudlnsurer platform leverages Majesco's experience with over 35 cloud customers, providing a business platform with broad appeal for all insurers from greenfields, new start-ups and incubators to mid-market and tier one insurers.

Prateek Kumar, EVP for the P&C Business for Majesco said that this startup is part of a growing number of new greenfields and startups that are aggressively executing strategies to capture new market opportunities focused on rapid launch.

Overseas, Asian shares rose following overnight gains on Wall Street, which saw the Dow Jones industrial average close above 25,000.

In US, the Dow Jones Industrial Average recorded its best daily gain since mid April as a rally in bank shares amplified a broad-market run-up that has been supported by gains in internet and technology shares. Market participants attributed Wednesday's rally to rising government bond rates. Higher rates tend to benefit the business of financials.

A rise in the yield of the benchmark 10-year Treasury note was supported by remarks from European Central Bank (ECB) senior officials, which showed the central bank remained on track to debate the timetable for ending its asset purchases soon.

Underlying strength in the euro area economy was making ECB confident that inflation will move toward target. The institution would next week discuss how it will wind down its 30 billion euro (about $35 billion) monthly-purchase program.

On the data front, the US trade deficit shrank 2.1% in April and tumbled to a seven-month low. Meanwhile, the productivity of American businesses rose at a revised 0.4% annual pace in the first quarter instead of 0.7% as originally reported. Output—or goods and services produced—climbed 2.7% instead of 2.8%, while unit-labor costs, or how much it costs to make each product, rose by 2.9%, a bit higher than the preliminary 2.7% estimate.

Powered by Capital Market - Live News

Attention Investors:
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account. Prevent Unauthorized Transactions in your Demat account\Trading account: Update your Mobile Number with your Depository Participant\Exchange. Receive alerts on your Registered Mobile for all debit and other important transactions in your Demat account\Trading account directly from Depository\Exchange on the same day.........issued in the interest of investors.
The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time. The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.
Disclosure of Proprietary Account Trading by Members to Clients
Proprietary Trading Disclosure:In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchange and with reference to circular MCX/T&S/147/2016 dated May 17, 2016 regarding Disclosure of Proprietary Account Trading by broker to client.,Pursuant to SEBI Circular Number SEBI/MRD/SEC/Cir-42/2003 dated November 19, 2003 & SEBI/HO/CDMRD/DMP/CIR/P/2016/49 dated April 25, 2016 GOODWILL WEALTH MANAGEMENT PVT LTD. Discloses to its clients about its policies on proprietary trades.
Copyright © 2016 All rights Reserved GOODWILL
Designed, Developed and content powered by CMOTS Infotech ( ISO 9001:2015 certified )
Filing complaints on SEBI Complaint Redress System (SCORES)
– Easy & quick
  • Register on SCORES portal
  • Mandatory details for filing complaints on SCORES:
    • Name, PAN, Address, Mobile Number, E-mail ID.
  • Benefits:
    • Effective communication
    • Speedy redressal of the grievances.
You can file complaints on SCORES through