On Thursday, share markets in India ended marginally higher. The BSE Sensex closed higher by 84 points and the NSE Nifty finished up 34 points.
The Nifty50 settled the August series of derivatives contract above 9,900 thanks to gains in information technology stocks, realty stocks and automobile stocks.
Adani Ports, Wipro and Tata Power gained the most on both indices, while Bosch, Bharti Infratel, Infosys and M&Mwere the top losers.
India's Q1 GDP Data
The Central Statistics Office (CSO) released gross domestic product (GDP) growth estimates for the first quarter of 2017-18 (April-June) yesterday.
Sandwiched between the government's demonetisation program and the implementation of the goods and services tax (GST), most experts expected the GDP print to be around 6%.
The economy clocked a 6.1% growth rate in the January-March period - its lowest pace of growth in the past nine quarters, mainly due to demonetisation.
Top Stocks in Action Today
Punjab National Bank share price will be in focus today after it was reported that the bank has cut its marginal cost based lending rates by up to 0.25% for select maturities, effective today. The state-owned lender has also slashed its base rate by 0.20% to 9.15%.
Fortis Healthcare will hog the limelight today following news reports that the Supreme Court has refused to grant permission to the company's promoters to sell their shares that they have pledged with banks and financial institutions.
Meanwhile, as per an article in Business Standard, Swedish defence and aerospace major, Saab, will announce a partnership with the Adani group to manufacture defence equipment in India, including Saab's new Gripen E single-engine, medium fighter if that is chosen by the IAF.
Singapore-based power producer Sembcorp Industries has entered into an agreement to acquire IDFC's remaining stake of 28% in renewable energy firm Sembcorp Green Infra (SGI) for Rs 14.10 billion.
Ajanta Pharma share price is in news today after it announced the launch of eletriptan hydrobromide tablets, used to treat headaches, in the US market. It is a bioequivalent generic version of Relpax tablets.
Lupin has launched generic Lanthanum Carbonate chewable tablets used for reducing serum phosphate in patients with end-stage kidney disease in the American market.
Global Stock Market Key Events
Major equity markets in the Asia Pacific were in a mixed mode on Thursday, with stock indexes in Japan and Australia making gains on better-than-expected economic data out of the US, while stocks in China and South Korea seeing losses over geopolitical tensions, despite positive manufacturing data in China.
European shares gained a second day after data underscored the resilience of the American and Chinese economies, and billionaire investor Warren Buffett said he still prefers stocks to bonds. The dollar was steady as Treasury yields rose a second day.
Among other key events this week:
- Among economic releases in Europe: Germany July retail sales and August unemployment, as well as euro-area July CPI and unemployment.
- The US released on Thursday a key personal consumption expenditure report that the Federal Reserve looks at, ahead of jobs data out today.
Oil Prices Hit by Demand Concerns
Oil prices were upended as flooding and damage from Tropical Storm Harvey shut nearly a quarter of US refinery capacity, curbing demand for crude.
The resulting risk of fuel shortages sent US gasoline futures up 6.4% in Asian trading to their highest in over two years. Prices have surged more than 20% in the past week.
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