After a positive opening, Indian share markets witnessed selling pressure in the afternoon session to close marginally below the dotted line due to selling in FMCG stocks, healthcare stocks and metal stocks despite firm global cues.

At the closing bell, the BSE Sensex stood lower by 57 points, while the NSE Nifty finished down 17 points. Meanwhile, the S&P BSE Mid Cap and the S&P BSE Small Cap finished up by 0.1% and 0.2% respectively.

HDFC Bank share price surged 2.4% in today’s trade after the bank reported 18.25% YoY rise in net profit at Rs 39.9 billion for the quarter ended March 31, 2017. It had posted a net profit of Rs 33.74 billion in the corresponding quarter last year.

Asset quality of the bank remained stable, with gross non-performing assets (NPAs) or bad loans stood at 1.05% of gross advances as on March 31, 2017, as against 1.05% as of December 31, 2016. Percentage of net NPAs to net advances stood at 0.33% in Q4FY17 against 0.32% in Q3FY17.

Asian stock markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 1.03% and the Shanghai Composite rose 0.03%. The Hang Seng lost 0.06%. European markets are lower today with shares in France off the most. The CAC 40 is down 0.68% while Germany’s DAX is off 0.10% and London’s FTSE 100 is lower by 0.02%.

The rupee was trading at Rs 64.57 against the US$ in the afternoon session. Oil prices were trading at US$ 50.67 at the time of writing.

The International Monetary Fund (IMF) in its report on Fiscal Monitor has said that India has recorded quite an impressive growth performance in recent years which makes room for tax broadening efforts by the government. The report also stated that India returned to fiscal consolidation in the fiscal year 2016-17 largely due to the near-elimination of fuel subsidies and enhanced targeting of social benefits, notwithstanding the impact of notebandi.