Indian shares rose on Monday, tracking Asian peers that climbed on positive US payrolls and Chinese trade data, with investors continuing to bet on a possible win for the country&#39;s ruling party in a key state election.&nbsp;

Markets are hoping for a big success by Prime Minister Narendra Modi and his ruling Bharatiya Janata Party in assembly elections in Gujarat, with tens of thousands voting in the first stage of the polls on Saturday.

A victory would help boost the government&#39;s re-election prospects during general elections in 2019 and reinforce its reform agenda, although analysts said it was already being priced into markets, making the margin of a win crucial to further boost shares.&nbsp;Three recent big polls have predicted a victory for Modi&#39;s party, but with a greatly reduced majority.&nbsp;

&quot;If BJP wins, it&#39;s definitely good for the markets, but unless they win by a landslide like they did in Uttar Pradesh and surprise everyone, markets (NSE index) should remain rangebound in the 10,000-10,500 levels&quot;, said R.K. Gupta, managing director at Taurus Asset Management Company.&nbsp;

The broader NSE Nifty was up 0.30 per cent at 10,296.35 as of 0619 GMT, while the benchmark BSE Sensex was 0.35 per cent higher at 33,365.35.

The gains also tracked a 0.4 per cent increase in Asia shares ex-Japan after strong US payrolls data and better-than-expected Chinese trade data on Friday.&nbsp;

The PSU bank index rose as much as 1.7 per cent, with constituent State Bank of India up as much as 2 per cent.

Private sector lenders Axis Bank and HDFC Bank were up about 0.5 per cent each.&nbsp;Property developer Unitech Ltd rose as much as 19.2 per cent after a court allowed the government to take over management control of the debt-laden company on Friday.

Banks such as State Bank of India, Axis Bank, and HDFC Bank saw a rise in share prices. BSE Sensex and NSE Nifty climbed on Monday

Indian shares rose on Monday, tracking Asian peers that climbed on positive US payrolls and Chinese trade data, with investors continuing to bet on a possible win for the country's ruling party in a key state election. Markets are hoping for a big success by Prime Minister Narendra Modi and his ruling Bharatiya Janata Party in assembly elections in Gujarat, with tens of thousands voting in the first stage of the polls on Saturday. A victory would help boost the government's re-election prospects during general elections in 2019 and reinforce its reform agenda, although analysts said it was already being priced into markets, making the margin of a win crucial to further boost shares. Three recent big polls have predicted a victory for Modi's party, but with a greatly reduced majority. "If BJP wins, it's definitely good for the markets, but unless they win by a landslide like they did in Uttar Pradesh and surprise everyone, markets (NSE index) should remain rangebound in the 10,000-10,500 levels", said R.K. Gupta, managing director at Taurus Asset Management Company. The broader NSE Nifty was up 0.30 per cent at 10,296.35 as of 0619 GMT, while the benchmark BSE Sensex was 0.35 per cent higher at 33,365.35. The gains also tracked a 0.4 per cent increase in Asia shares ex-Japan after strong US payrolls data and better-than-expected Chinese trade data on Friday. The PSU bank index rose as much as 1.7 per cent, with constituent State Bank of India up as much as 2 per cent. Private sector lenders Axis Bank and HDFC Bank were up about 0.5 per cent each. Property developer Unitech Ltd rose as much as 19.2 per cent after a court allowed the government to take over management control of the debt-laden company on Friday.

Nifty, Sensex gain in early trade

Market benchmark Sensex surged 301 points to close at 33,250.30 today on unabated buying by domestic institutional investors amid positive global leads.&nbsp;The wider NSE Nifty too went past the 10,250-level.&nbsp;

The 30-share BSE Sensex opened on a strong footing at 33,034.20 and maintained its upward trend to hit the day&#39;s high of 33,285.68 before ending at 33,250.30, up 301.09 points, or 0.91 per cent.&nbsp;The index had rallied 352.03 points in the previous session on value-buying by investors in recently-battered blue-chip stocks.

The Nifty finished the day at 10,265.65, a hefty gain of 98.95 points, or 0.97 per cent, after shuttling between 10,270.85 and 10,195.25.&nbsp;

On a weekly basis, the Sensex gained 417.36 points, or 1.27 per cent, while the Nifty advanced 143.85 points or 1.42 per cent.

Most Asian and European markets rallied as investors awaited major economic data from China and the US amid overnight gains at Wall Street following reports that President Donald Trump is planning to unveil a big-spending public works plan.

Most Asian and European markets rallied as investors awaited major economic data from China and the US

Market benchmark Sensex surged 301 points to close at 33,250.30 today on unabated buying by domestic institutional investors amid positive global leads. The wider NSE Nifty too went past the 10,250-level. The 30-share BSE Sensex opened on a strong footing at 33,034.20 and maintained its upward trend to hit the day's high of 33,285.68 before ending at 33,250.30, up 301.09 points, or 0.91 per cent. The index had rallied 352.03 points in the previous session on value-buying by investors in recently-battered blue-chip stocks. The Nifty finished the day at 10,265.65, a hefty gain of 98.95 points, or 0.97 per cent, after shuttling between 10,270.85 and 10,195.25. On a weekly basis, the Sensex gained 417.36 points, or 1.27 per cent, while the Nifty advanced 143.85 points or 1.42 per cent. Most Asian and European markets rallied as investors awaited major economic data from China and the US amid overnight gains at Wall Street following reports that President Donald Trump is planning to unveil a big-spending public works plan.

Sensex soars 301 pts, reclaims 33,000-mark

The benchmark BSE Sensex gained 103 points in early trade, extending gains for the third day on Monday as the government unveiled its new GST rates on Friday evening.

The NSE Nifty was up 11.25 points at 10,333 points.

On Friday, the GST Council had slashed the list of items in the top 28 per cent GST slab to 50 from 228 with the effect clearly seen in the markets on Monday.

As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, except five-star hotels.

&nbsp;M&amp;M, Axis Bank, Hindustan Unilever, TCS, SBI and NTPC, rose&nbsp;by up to 2.10 per cent in early trade.

However, Anil Ambani-controlled Reliance Communications Ltd&#39;s(RCom) shares slumped for the fourth day today after the company posted fourth straight quarterly loss.&nbsp;

RCom shares fell as much as 12.1 per cent in morning trade. 
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The NSE Nifty was up 11.25 points at 10,333 points.

The benchmark BSE Sensex gained 103 points in early trade, extending gains for the third day on Monday as the government unveiled its new GST rates on Friday evening. The NSE Nifty was up 11.25 points at 10,333 points. On Friday, the GST Council had slashed the list of items in the top 28 per cent GST slab to 50 from 228 with the effect clearly seen in the markets on Monday. As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, except five-star hotels. M&M, Axis Bank, Hindustan Unilever, TCS, SBI and NTPC, rose by up to 2.10 per cent in early trade. However, Anil Ambani-controlled Reliance Communications Ltd's(RCom) shares slumped for the fourth day today after the company posted fourth straight quarterly loss. RCom shares fell as much as 12.1 per cent in morning trade.

Sensex rises 103 points, RCom slumps

The BSE Sensex edged lower on Tuesday as investors booked profits in recent gainers, but posted its biggest monthly gain since March 2016 after the government announced a plan last week to inject capital into state-run lenders.

The benchmark Sensex closed down 0.16 per cent at 33,213.13, but gained 6.2 percent for the month, its biggest such gain since March 2016.

The broader NSE Nifty ended 0.27 per cent lower at 10,335.30. It gained 5.6 percent for the month, its biggest monthly gain in three.

The BSE Sensex edged lower on Tuesday as investors booked profits in recent gainers

The BSE Sensex edged lower on Tuesday as investors booked profits in recent gainers, but posted its biggest monthly gain since March 2016 after the government announced a plan last week to inject capital into state-run lenders. The benchmark Sensex closed down 0.16 per cent at 33,213.13, but gained 6.2 percent for the month, its biggest such gain since March 2016. The broader NSE Nifty ended 0.27 per cent lower at 10,335.30. It gained 5.6 percent for the month, its biggest monthly gain in three.

Sensex falls, but posts biggest monthly gain since March 2016

The Nifty breached the 10,000 mark for the first time Tuesday morning.&nbsp;

It opened at 10,010.55, but fell to just below 10,000 soon after opening.&nbsp;

Commentators said there were a number of reasons for the current high the Nifty and Sensex are seeing.&nbsp;

Global stocks are on a current high.&nbsp;

A large amount of money is coming into India in the form of FIIs.&nbsp;

The monsoon appears to be on track.&nbsp;And GST was successfully rolled out.&nbsp;

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The Sensex was down 17.60 points at 32228.27, while the Nifty was down 1.85 points at 9964.55 (WION)
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The Nifty breached the 10,000 mark for the first time Tuesday morning. It opened at 10,010.55, but fell to just below 10,000 soon after opening. Commentators said there were a number of reasons for the current high the Nifty and Sensex are seeing. Global stocks are on a current high. A large amount of money is coming into India in the form of FIIs. The monsoon appears to be on track. And GST was successfully rolled out. The Sensex was down 17.60 points at 32228.27, while the Nifty was down 1.85 points at 9964.55 (WION) ×

Nifty breaches 10,000 mark for first time

The Sensex&#39;s gains slipped, but the gauge is still trading higher today by 482 points, powered by a huge sweep by the BJP in Uttar Pradesh&nbsp;and Uttarakhand and a higher probability of the party forming government in other states.

The broader Nifty came off from record highs while holding on to the key 9,000 level.

Solid IIP numbers and strong FII inflows bolstered sentiment too.

Barring telecom counters which witnessed profit- booking, buying was led by capital goods, financials, realty, industrials and auto, among others.

The Sensex opened gap-up at 29,437.23 and hovered in a range of 29,561.93 and 29,356.05 before trading at 29,428.40 at 1155 hours, a gain of 482.17 points, or 1.67 per cent.

The NSE 50-share Nifty was also up 146.65 points, or 1.64 per cent, to quote at 9,081.20 at 1155 hours.

Major gainers were ICICI bank (5.82 per cent), L&amp;T (4.17 per cent), HDFC (3.39 per cent), ITC (2.39 per cent) and Asian Paints (2.27 per cent).

Meanwhile, foreign funds bought net Rs 412.14 crore last Friday, as per the provisional figures.

India&#39;s wholesale prices rose a more-than-expected 6.55 per cent year-on-year in February, compared with a 0.85 per cent fall a year ago, driven by fuel and food prices, government data showed on Tuesday.

The data compares with a 5.90 per cent annual rise forecast by economists in a Reuters poll. In January, prices rose a provisional 5.25 per cent, the fastest pace in two-and-a-half years.

Last month, wholesale food prices rose 2.69 per cent year-on-year, compared with a provisional 0.56 per cent fall in January.

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Annual rate of inflation, based on monthly WPI, stood at 6.55% for February, 2017 as compared to 5.25% for previous month.
&mdash; ANI (@ANI_news) <a href="https://twitter.com/ANI_news/status/841542031549767680">March 14, 2017</a></blockquote>
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Modi&#39;s victory &quot;is a huge confidence boost for reform and is another step on the way to a story that could place him as one of the most successful reformers in history,&quot; said Simon Quijano-Evans, investment strategist at Legal &amp; General Investment Management in London.

The prime minister&#39;s win should bode well for foreign portfolio investment in India.

Foreign investors have already started returning to the country, having bought a net $1.5 billion in equities and $887.3 million in debt in February, following four consecutive months of net sales. They have remained net buyers in March.

But expensive valuations and caution due to an anticipated rate hike by the US&nbsp;Federal Reserve this week could temper gains.

Indian shares are trading at a price-to-earnings ratio of 19.85 over the next 12 months, compared with their five-year historic average of 17.8, according to Thomson Reuters data.

(Agencies)

Investors are betting the victory in UP will embolden the ruling BJP to embark on more reforms including launching the GST

The Sensex's gains slipped, but the gauge is still trading higher today by 482 points, powered by a huge sweep by the BJP in Uttar Pradesh and Uttarakhand and a higher probability of the party forming government in other states. The broader Nifty came off from record highs while holding on to the key 9,000 level. Solid IIP numbers and strong FII inflows bolstered sentiment too. Barring telecom counters which witnessed profit- booking, buying was led by capital goods, financials, realty, industrials and auto, among others. The Sensex opened gap-up at 29,437.23 and hovered in a range of 29,561.93 and 29,356.05 before trading at 29,428.40 at 1155 hours, a gain of 482.17 points, or 1.67 per cent. The NSE 50-share Nifty was also up 146.65 points, or 1.64 per cent, to quote at 9,081.20 at 1155 hours. Major gainers were ICICI bank (5.82 per cent), L&T (4.17 per cent), HDFC (3.39 per cent), ITC (2.39 per cent) and Asian Paints (2.27 per cent). Meanwhile, foreign funds bought net Rs 412.14 crore last Friday, as per the provisional figures. India's wholesale prices rose a more-than-expected 6.55 per cent year-on-year in February, compared with a 0.85 per cent fall a year ago, driven by fuel and food prices, government data showed on Tuesday. The data compares with a 5.90 per cent annual rise forecast by economists in a Reuters poll. In January, prices rose a provisional 5.25 per cent, the fastest pace in two-and-a-half years. Last month, wholesale food prices rose 2.69 per cent year-on-year, compared with a provisional 0.56 per cent fall in January. Annual rate of inflation, based on monthly WPI, stood at 6.55% for February, 2017 as compared to 5.25% for previous month. — ANI (@ANI_news) March 14, 2017 × Modi's victory "is a huge confidence boost for reform and is another step on the way to a story that could place him as one of the most successful reformers in history," said Simon Quijano-Evans, investment strategist at Legal & General Investment Management in London. The prime minister's win should bode well for foreign portfolio investment in India. Foreign investors have already started returning to the country, having bought a net $1.5 billion in equities and $887.3 million in debt in February, following four consecutive months of net sales. They have remained net buyers in March. But expensive valuations and caution due to an anticipated rate hike by the US Federal Reserve this week could temper gains. Indian shares are trading at a price-to-earnings ratio of 19.85 over the next 12 months, compared with their five-year historic average of 17.8, according to Thomson Reuters data. (Agencies)

BJP's big UP victory boosts Sensex, Nifty

Chitra Ramkrishna today announced her plans to quit as the managing director and CEO of India&#39;s National Stock Exchange (NSE) for &quot;personal reasons&quot;.

Sources said that Ramkrishna planned to quit with immediate effect despite requests by the NSE board to stay for some more time. Her tenure was scheduled to end in March 2018, PTI reported.

Ramkrishna&#39;s departure comes ahead of a planned initial public offer, one of the biggest in recent times.

The NSE has recently been involved in a major debate over new regulatory framework for high-frequency trades and co-location facilities.

Ramkrishna, 52, has been with the NSE since its inception in 1992. She was last month named chairperson of the board of World Federation of Exchanges (WFE), a global body of more than 200 market infrastructure providers.

She took over as MD and CEO of NSE on April 1, 2013 for a five-year tenure. She has also served as NSE&#39;s joint managing director earlier.

Ramkrishna was only the third person to head the bourse in its entire history of about two decades. She was also part of the team that drafted the legislative framework for the securities market regulator SEBI in 1987.

NSE is among the top bourses in the world in terms of equity trades and also market capitalisation.

(WION with inputs from PTI)

Sources said Ramkrishna has offered to quit with immediate effect despite requests to stay for a while

Chitra Ramkrishna today announced her plans to quit as the managing director and CEO of India's National Stock Exchange (NSE) for "personal reasons". Sources said that Ramkrishna planned to quit with immediate effect despite requests by the NSE board to stay for some more time. Her tenure was scheduled to end in March 2018, PTI reported. Ramkrishna's departure comes ahead of a planned initial public offer, one of the biggest in recent times. The NSE has recently been involved in a major debate over new regulatory framework for high-frequency trades and co-location facilities. Ramkrishna, 52, has been with the NSE since its inception in 1992. She was last month named chairperson of the board of World Federation of Exchanges (WFE), a global body of more than 200 market infrastructure providers. She took over as MD and CEO of NSE on April 1, 2013 for a five-year tenure. She has also served as NSE's joint managing director earlier. Ramkrishna was only the third person to head the bourse in its entire history of about two decades. She was also part of the team that drafted the legislative framework for the securities market regulator SEBI in 1987. NSE is among the top bourses in the world in terms of equity trades and also market capitalisation. (WION with inputs from PTI)

Chitra Ramkrishna quits as CEO of India's National Stock Exchange

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