MARKETS TRADING IN GREEN

Indian equities trim gains but continued their firm trade in green in the late morning session. On the global front, the Asian markets were trading in green after China's second-quarter gross domestic product data landed in line with the forecasts. US market closed in red on global worries and corporate earnings concern. On the home turf, traders were seen piling up position in Bankex, TECk and PSU sector HDFC Bank, Punjab National bank, Kotak Bank, Bank Baroda and ICICI Bank from Bankex pack was seen trading in green driving the markets higher. The NSE Nifty and BSE Sensex were trading above their psychological 5,200 and 17,200 levels respectively

The market breadth on BSE was positive in the ratio of 1411:703 while 98 scrips remained unchanged.

The BSE Sensex is currently trading at 17,291.81 up by 59.26 points or 0.34% after trading as high as 17,342.88 and as low as 17,264.79. There were 20 stocks advancing against 10 declines on the index.

The broader indices were trading on a positive note; the BSE Mid cap index up 0.52% while Small cap index was up 0.69%.

On the BSE sectoral space, Bankex up by 0.75%, TECk up by 0.42%, PSU down by 0.32%, IT down by 0.28%, Oil & Gas down by 0.26, while there were the no losers on the index.

TCS up by 1.77%, HDFC Bank up by 1.72%, Cipla up by 1.39%, Gail India up by 1.07% and Hero MotoCorp up by 0.84% were the major gainers on the Sensex, while Infosys down by 0.87%, Maruti Suzuki down by 0.83%, Jindal Steel down by 0.64%, Sun Pharma down by 0.49% and Sterlite Industries down by 0.43% were the major losers in the index.

Meanwhile , Union cabinet has given its nod to set up an institutional monitoring mechanism to ensure speedy completion of project and efficient service delivery by private player under public private partnership (PPP).

A two-tier scanning system consisting of projects monitoring unit (PMU) at project authority level and performance review unit (PRU) in the ministry concerned will be formed, while the PMU will monitor their performance at the project authority level, the PRU will also oversee their implementation at the Ministry or state government level. The PMU will have to prepare a report to be submitted to the PRU within 15 days of the close of the relevant month and PRU will review the reports submitted by the different PMUs and oversee or initiate action for rectifying any defaults or lapses.

Though, further it was also stated that based on the outcome and the experience gained in this regard, modifications would be made in the guidelines, if necessary. Also, as per the Cabinet's decision, the quarterly monitoring reports will be placed before the Cabinet Committee on Infrastructure (CCI) to review the progress of PPP projects once every quarter for the next two years.

So far, 432 projects on PPP mode have been completed and another 585 are in implementation stage. The Planning Commission will have a major role in ensuring quality monitoring and will put the monitoring reports of over 432 Public Private Partnership projects in public domain.  

The S&P CNX Nifty is currently trading at 5,252.95, up  by 17.70 points or 0.34% after trading as high as 5,267.15 and as low as 5,242.75. There were 39 stocks advancing against 10 declines while 1 stock remained unchanged on the index.

The top gainers on the Nifty were TCS up by 1.94%, HDFC Bank up by 1.67%, IDFC up by 1.50%, Cipla by 1.39% and HCL Tech up by 1.00%. Maruti down by 1.00%, Infosys down by 0.82%, Jindal Steel down by 0.73%, Sterlite Industries down by 0.72% and Tata Motors down by 0.40% were the major losers on the index.

All the Asian equity indices were trading in the green; Shanghai Composite was up  0.37%, Hang Seng index up  by 0.50%, Nikkei 225 up 0.29%, Kospi Composite Index up 1.65%, Strait Times up 0.30%, Jakarta Composite  up 0.75% and KLSE Composite  up  0.04% while Taiwan Weighted down 0.27% was the lone loser.