Indian share markets continued to trade in green during the afternoon session amid firm international markets. At the closing bell, the BSE Sensex stood higher by 136 points, while the NSE Nifty finished up by 37 points. Meanwhile, the S&P BSE Mid Cap and the S&P BSE Small Cap finished up by 0.7% and 0.5% respectively. Gains were largely seen in realty stocks, pharma stocks and consumer durables’ stocks. Metal stocks and oil & gas stocks witnessed selling pressure.
The month of May was witness to a rollercoaster ride for the Indian stock markets. The benchmark indices after making a sluggish start gained momentum to surge to their life time highs and continue the momentum till the end of the month.
BSE Sensex Gainers During the month of May
In the early second half of the month markets showed some choppiness mainly on some weak earnings but hopes of timely arrival of monsoon rains once again led the markets continued to gain. The May F&O series continued to be of jubilation for the Indian markets, with both the Sensex and the Nifty ending the series with a gain of over 1.5% and Nifty managed to reclaim the psychological highs of 9500.
GMR Infrastructure share price rose nearly 20% on reduction in the company’s gross debt. GMR Infrastructure reported widening of its standalone net loss to Rs 24.78 billion for the quarter ended 31 March 2017.
The company had posted standalone net loss of Rs 17.87 billion in the corresponding quarter of financial year 2015-16. The revenue is up Rs 109.99 billion against Rs 106.81 billion the previous fiscal.
Reflecting GMR’s turnaround efforts and improvement of financial health of the group, the gross debt reduced to Rs 198.56 billion from Rs 374.8 billion.
Asian share markets rose to their best levels in more than two years as positive data on US manufacturing and employment and buoyant European factory growth boosted investor optimism. The Nikkei 225 is up 1.60% while Hong Kong’s Hang Seng is up 0.44% and China’s Shanghai Composite is up 0.09%. European markets are broadly higher today with shares in Germany leading the region. The DAX is up 1.46% while France’s CAC 40 is up 0.85% and London’s FTSE 100 is up 0.26%.
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