The BSE Sensex opened at 27360 levels up 0.40%, while Nifty50 opened above 8,400 mark, up by 24 points.
On the macro front, Consumer price inflation (CPI) in December fell further to 3.4% with food inflation hitting a two-year low. Thanks to a lower base, the index of industrial production (IIP) grew by 5.7% yoy in November.
Gold briefly surpassed US$1,200/oz mark, with values eventually retreating from the seven week high on account of profit taking. The short term trajectory for the yellow metal hinges on the policy developments from Trump regime. Clarity of fiscal policy, including government spending and corporate tax cuts can translate into bullish dollar and effectively deemed negative for gold. Conversely, protectionist measures from Trump can pose a threat to global trade and US economy, which will logically prove supportive for gold.
Meanwhile, Fitch reported that Trump's plans to slash taxes can threaten US triple-A credit rating over the medium term. The country has a very high level of government debt and proposed tax cuts by US$6.2 trillion over the next 10 years can pile up debt load by more 33%.
Oil futures scaled higher, underpinned by comments from Saudi Arabia Energy minister that OPEC would accelerate the rebalancing of the market and prices will be receptive to the same later this year.
On the macro front, Consumer price inflation (CPI) in December fell further to 3.4% with food inflation hitting a two-year low. Thanks to a lower base, the index of industrial production (IIP) grew by 5.7% yoy in November.
Gold briefly surpassed US$1,200/oz mark, with values eventually retreating from the seven week high on account of profit taking. The short term trajectory for the yellow metal hinges on the policy developments from Trump regime. Clarity of fiscal policy, including government spending and corporate tax cuts can translate into bullish dollar and effectively deemed negative for gold. Conversely, protectionist measures from Trump can pose a threat to global trade and US economy, which will logically prove supportive for gold.
Meanwhile, Fitch reported that Trump's plans to slash taxes can threaten US triple-A credit rating over the medium term. The country has a very high level of government debt and proposed tax cuts by US$6.2 trillion over the next 10 years can pile up debt load by more 33%.
Oil futures scaled higher, underpinned by comments from Saudi Arabia Energy minister that OPEC would accelerate the rebalancing of the market and prices will be receptive to the same later this year.
- INFOSYS opened at Rs 1032 per share up by 3.62 %.
- TCS opened at Rs 2340 per share down by 0.19%
- Reliance Industries opened at Rs 1087 per share up by 0.43 %
- Tata Steel opened at Rs 449 per share up by 0.28%
- Tata Motors opened at Rs 519.75 per share up by 0.27 %
- ONGC opened at Rs 201.55 per share up by 0.12%
- NTPC opened at Rs 173.50 per share up down by %
- COAL India opened at Rs 315.70 per share up by 0.80 %
- ICICI Bank opened at Rs 201.55 per share up by 0.48%.
- HDFC Bank opened at Rs 1235 per share up by 0.08%.
Stock View:
Infosys Ltd is currently trading at Rs 1020, up by Rs 19.95 or 1.99% from its previous closing of Rs 1000.05 on the BSE.
The scrip opened at Rs 1026.35 and has touched a high and low of Rs 1045 and Rs 1014.1 respectively. So far 3373886(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 229705.95 crore.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 1278 on 03-Jun-2016 and a 52 week low of Rs 900.3 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 1004.4 and Rs 964 respectively.
The promoters holding in the company stood at 12.75 % while Institutions and Non-Institutions held 57.57 % and 29.19 % respectively.
The stock is currently trading above its 200 DMA.
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