Published: Sat, May 20, 2017
Culture&Arts | By Sandra Brady

ITC top gainer in the FMCG index; stock gains around 5%

ITC top gainer in the FMCG index; stock gains around 5%

ITC, Yes Bank, Axis Bank, Hindustan Unilever, State Bank of India, Tata Motors, Lupin, Cipla were also among the gainers.

Key Indian equity market indices opened in the green on Friday following Goods and Services Tax (GST) Council's fitment of 1,211 goods in the tax slabs.

Shanghai Composite shed 0.06 per cent. It was quoting at 30,619.16 at 1100 hrs, showing a rise of 184.37 points or 0.61 per cent. Among the BSE sectoral indices, FMCG rose 1.86 per cent, Bankex 0.39 per cent and Telecom 0.28 per cent while Consumer Durable fell 1.04 per cent, Oil&Gas 0.80 per cent, IT 0.70 per cent, Energy 0.65 per cent, Auto 0.59 per cent and Teck 0.56 per cent. SBI's standalone net profit, not including contributions from subsidiaries, jumped to Rs. 2,815 crore for the three months to March 31 from Rs. 1,264 crore a year earlier.

The S&P BSE mid-cap index fell 0.72 per cent while the small-cap index declined 0.88 per cent.

On Thursday, Asian indices were showing a negative trend.

Karur Vysya Bank advanced 1.5 percent on reporting a 58 percent increase in quarterly profit. Stock market analysts said this is likely to be a major trigger for markets today.

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The now famous googly from Rashid accounted for Aaron Finch (2) while James Faulkner and Pradeep Sangwan were cleaned up by Siraj. And his bowlers did not start in the ideal fashion as Dwayne Smith and Ishan Kishan put on 111 for the opening wicket.

Likewise, the 50-scrip NSE barometer Nifty slipped from its all-time high to finish at 9,429.45, down 96.30 points, or 1.01 per cent.

Other than locking in profit by investors, political as well as economic uncertainties stemming from US President Donald Trump's recent executive decisions had their bearing on the market direction.

The US Dow Jones Industrial Average ended 1.78 per cent lower in Wednesday's trade, its biggest single-day slump in eight months.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs. 360.59 crore yesterday, as per provisional data released by the stock exchanges.

It was followed by Yes Bank (Rs. 537.48 million), I T C (Rs. 533.47 million) and State Bank Of India (Rs. 464.19 million).

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