“I think the GDP data is basically one driving factor.and apart from GDP data it is the earnings growth and allocation of higher sum of money by global FIIs to local markets.all these three factors are definitely playing a role in bringing the market up now”, said Deven Choksey, managing director at KR Choksey Securities. Consequently, the key indices traded in the positive territory during the early morning trade session.
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All sectoral indices led by metal, banking, auto, PSU and realty were trading in the green rising up to 1.17 per cent.
The 50-share NSE Nifty also succumbed to profit-booking and ended lower 18.40 points, or 0.22 per cent, at 8,160.10 after moving between 8,213.60 and 8,134.30 during the day.
At 2:30 p.m., the barometer 30-scrip sensitive index (Sensex) of the BSE, which had opened at 26,919.23 points, was trading at 26,874.65 points – up 31.51 points, or 0.12 per cent.
Mumbai: Marking its first drop in six days, the Sensex today came off its 7-month high slipping by about 58 points to end at 26,668, but managed to pull off its third straight monthly gain. The BSE market breadth was tilted in favour of the bears – with 1,400 declines and 1,142 advances.
The key Indian indices had closed at a fresh seven-month closing-high on Thursday.
However, short covering and lower level buying aided the key indices to pare some of their losses.
“However, the Indian Meteorological Department (IMD) brought in some cheer after it stuck to its preliminary forecast of above normal rains for the 2016 southwest monsoon season”, he added.
The contract is trading sideways with a positive bias.
Foreign portfolio investors (FPIs) purchased shares worth a net Rs 521.85 crore yesterday, as per provisional data.
Showers in the June-September season starting June 1 are seen at 109 per cent of the mean of about 89 centimeters (35 inches), Skymet Weather Services, a New Delhi-based private forecaster, said last week.
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Chinese shares were mixed, with the CSI 300 index little changed, while the Shanghai Composite slipped 0.2 percent, putting both on track for weekly gains of about 3.5 percent.
