Indian equity markets gained almost 1.25% on the back of sharp spike in index heavyweight Infosys and strong trade deficit data for the month of June. 50 stock index reclaimed 6000 level and ended the day with 73.90 points gain at 6009 while Sensex ended at 1-1/2 month high at 19958.47 up by 283 points.
Infosys hits 3-month high after the company left FY14 sales growth guidance in dollar terms unchanged at 6-10 per cent. Infosys reported consolidated net profit at Rs 2,374 crore for the quarter ended June 2013, down 0.8 per cent, against Rs 2,394 crore in previous quarter. Sales for the quarter were at Rs 11,267 crore, up 7.7 per cent, as compared to Rs 10,454 crore.
India's trade deficit in June narrowed by 39% to $12.24 billion from a 7-month high, helped by a slowdown in gold imports. The country's gold and silver imports dropped drastically to USD 2.5 billion in June from USD 8.3 billion in May. Oil imports slipped to USD 12.7 billion from USD 15 billion during the same period. Exports declined marginally to USD 23.79 billion from 24.51 billion M-o-M, but imports were down by 19.3% to USD 36.03 billion in June from 44.65 billion in May.
Among the sectoral indices CNX IT surged by 6.62% on the back of Infosys results, followed by CNX Services (2.18%) and CNX Infra (1.69%) while CNX Realty fell down by -0.54%.
Out of 50 stocks of Nifty 31 stocks were ended in positive terrain while 19 stocks in negative.
Top 5 Nifty gainers: Infosys (10.92%), IDFC (3.68%), L&T (3.39%), TCS (2.90%) and Reliance (2.87%) were top index gainers.
Top 5 Nifty Losers: JP Associate (-3.23%), Maruti (-3.22%), ONGC (-2.66%), Ultra Cement (-1.83%) and Grasim (-1.45%) were top Nifty laggards.
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