Textile stocks and Gems & Jewellery stocks reacted positively to the GST rates in the morning hour on Monday. Titan is the top gainer in Jewellery stocks. It is trading higher by around 11% at Rs 525 per share. PC Jewellers is trading higher by 8.09% at Rs 543.75 per share.
Bombay Dyeing is the top gainer in textile stocks. It is trading higher by close to 6% at Rs 74.15 per share. There were 994 advances, 522 declines and 439 unchanged stocks on NSE reflecting fairly positive bias floating in the market. At 10 AM, the S&P BSE Sensex is trading at 31268 down 4 points, while NSE Nifty is trading at 9659 up 5 points. A total of 57 stocks registered a fresh 52-week high in trade today, while 22 stocks touched a new 52-week low on the NSE. The BSE Mid-cap Index is trading up 0.51% at 14877, whereas BSE Small-cap Index is trading up 0.7% at 15417. Some buying activity is seen in Capital Goods, Metal, Pharma, Auto, while FMCG is showing weakness on BSE. Bajaj Auto, Indiabulls Housing Finance, Bharti Infratel, BPCL and Yes Bank are among the gainers, whereas Lupin, Coal India, Wipro, Infosys, HDFC Bank are losing sheen on NSE in the first trading hour.
At 9:15 AM, the BSE Sensex opened higher by 1 points at 31274, while the Nifty50 opened higher by 3 points at 9656 mark.
India Bulls Housing Finance is the top Nifty gainer and Lupin Auto is the top Nifty loser in the morning hours. There are 953 advances, 445 declines and 502 unchanged stocks on NSE reflecting some positive bias floating in the market. The level of 9,700 is likely to act as a strong barrier for the Nifty50. If it holds above the level of 9,700, a rally is likely up to the level of 9,730. On the downside, the support for Nifty50 index is placed in the region of 9,620-9,630. The rupee opened at 64.31 per US dollar higher by 13 paise. On Friday, the rupee rose by 4 paise to a fresh one-week high of 64.44 against the US dollar on sustained selling of the American currency by exporters. The US stocks closed higher on Friday, shrugging off weaker than expected job data. The tech-heavy Nasdaq outperformed its counterparts. The Nasdaq Composite Index advanced 59 points to finish at 6,306. The Dow Jones Industrial Average rose 62 points to close at 21,206. The S&P 500 index gained 9 points to 2,439. Asian markets are trading flat on Monday. Japan’s Nikkei 225 has gained 5 points. Hong Kong’s Hang Seng has advanced 2 points. However, China’s Shanghai Composite has shed 9 points.
