Trading for the week started on a positive note as key indices settled with small gains after a rangebound and listless trade. The barometer index, the S&P BSE Sensex rose 67.35 points or 0.23% at 29,926.15, as per the provisional closing data. The Nifty 50 index gained 25.65 points or 0.28% at 9,310.95, as per the provisional closing data. Emmanuel Macron's victory as France's next president supported gains on most of the Asian stocks including Indian stocks while European stocks retracted.
The Sensex provisionally settled below the psychological 30,000-mark after having regained that mark during mid-morning trade. Earlier, key indices hovered in a narrow range in positive terrain after regaining strength and hitting fresh intraday high in mid-morning trade as firmness in Asian stocks boosted sentiment. Indices had trimmed initial gains after opening with small gains.
Eicher Motors hit record high after posting strong Q4 results. Realty stocks gained.
The Sensex gained 157.24 points or 0.52% at the day's high of 30,016.04 in mid-morning trade. The index gained 18.61 points or 0.06% at the day's low of 29,877.41 in morning trade. The Nifty gained 53.40 points or 0.57% at the day's high of 9,338.70 in mid-morning trade. The index rose 12.65 points or 0.13% at the day's low of 9,297.95 in morning trade.
The BSE Mid-Cap index provisionally rose 0.5%. The BSE Small-Cap index provisionally gained 0.7%. Both these indices outperformed the Sensex.
The turnover on BSE was Rs 3193.78 crore, lower than Rs 4531.83 crore on Friday, 5 May 2017.
The breadth, indicating the overall health of the market, was positive. On BSE, 1,619 shares rose and 1,143 shares fell. A total of 198 shares were unchanged.
Eicher Motors rose 4.13% to Rs 26,905 after consolidated net profit rose 33.91% to Rs 459.44 crore on 22.91% rise in net sales to Rs 1876.54 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours on Friday, 5 May 2017. The stock had hit a high of Rs 26,999 so far during the day, which is also a record high for the counter.
The company's consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) rose 30.9% to Rs 585 crore in Q4 March 2017 over Q4 March 2016.
Royal Enfield posted its best ever performance in Q4 March 2017. In this quarter, Royal Enfield sold 178,345 motorcycles, registering its best ever quarterly sales and posting a growth of 20.8% over 147,618 motorcycles sold in the same period last year. Royal Enfield also posted its highest ever quarterly income from operations at Rs 1888 crore (net of excise duty) for Q4 March 2017, a growth of 23.2% over the corresponding period last year.
Realty stocks spurted in a firm market. DLF (up 6.33%), D B Realty (up 6.88%), Sobha (up 0.51%), Indiabulls Real Estate (up 12.65%), Unitech (up 1.61%), NBCC (up 1.17%), Godrej Properties (up 1.63%) and Housing Development & Infrastructure (HDIL) (up 7.41%) edged higher.
Nitin Spinners advanced 3.85% after net profit rose 38.3% to Rs 15.72 crore on 49.9% increase in net sales to Rs 285.20 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Saturday, 6 May 2017.
Gillette India jumped 9.22% after net profit rose 30.53% to Rs 105.82 crore on 15.93% rise in net sales to Rs 524.89 crore in Q3 March 2017 over Q3 March 2016. The result was announced on Saturday, 6 May 2017. Gillette India's board declared a special interim dividend of Rs 154 per equity share. The board fixed 18 May 2017 as the record date for the interim dividend.
Eros International Media gained 5.67% to Rs 230.20 on BSE after a bulk deal of 10.26 lakh shares was executed on the scrip at Rs 222.70 per share at 10:42 IST on BSE.
Overseas, European stocks pulled back from 21-month high after centrist candidate Emmanuel Macron won the French presidential election with about 66.1% of the votes, against 33.9% for rival Marine Le Pen, according to official tallies.
The victory on Sunday, 7 May 2017 for the 39-year-old Macrona staunch supporter of the European Unionis likely to placate anxious global market investors, who have fretted for weeks that far-right candidate Le Pen would win and make good on promises to yank France out of the EU, potentially unsettling the eurozone and world markets.
On data front, high demand from abroad boosted German industrial orders in March, data showed. Contracts for "Made in Germany" goods were up by 1% on the month, the Economy Ministry said, the first time since November 2015 that new orders increased for two months in a row.
Most Asian stocks rose led by gains in Japanese stocks amid optimism on improving global growth following Emmanuel Macron's victory as France's next president. Japan's Nikkei Average closed 2.31% higher as the index was also playing catch-up with other markets in the region, having been shut since Wednesday, 3 May 2017 for public holidays.
China's April exports rose 8% from a year earlier while imports expanded 11.9%, official data showed. That left the country with a trade surplus of $38.05 billion for the month, the General Administration of Customs said.
US stocks closed at a record Friday, 5 May 2017 on better-than-forecast data on American jobs.
Data in US on that day showed some 211,000 people found new jobs in April as hiring rebounded from a wobbly showing in early spring, offering fresh evidence the economy is still growing at healthy clip and paving the way for the Federal Reserve to raise interest rates soon. Unemployment rate, meanwhile, dipped to 4.4% from 4.5% to match the lowest level since May 2007.
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