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MARKETS ON MONDAY: Nifty ends above 10,700, Sensex up 293 pts; metals gain

Markets gained ground on Monday, tracking Asian peers, after tepid US jobs data on Friday

SI Reporter  |  New Delhi 

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Nifty Metal index climbs 1.68%. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) WELSPUN CORP 150.00 140.25 9.75 6.95 JINDAL STEEL 255.75 240.65 15.10 6.27 S A I L 74.95 72.35 2.60 3.59 JSW STEEL 326.70 317.40 9.30 2.93 HINDALCO INDS. 237.80 231.35 6.45 2.79 Nifty PSU Bank index ends 2.18% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) INDIAN BANK 321.35 310.00 11.35 3.66 BANK OF BARODA 143.55 139.90 3.65 2.61 CANARA BANK 262.05 255.60 6.45 2.52 PUNJAB NATL.BANK 93.65 91.55 2.10 2.29 ALLAHABAD BANK 48.30 47.25 1.05 2.22 Sectoral gainers and losers of the day BSE Sensex: M&M, ICICI Bank top gainers of the day, Coal India top loser Market at close   The S&P BSE Sensex ended at 35,208, up 293 points while the broader Nifty50 index settled at 10,715, up 97 points. Suven Life up 6% as Pashamylaram's unit completes USFDA inspection Suven Life Sciences has moved higher by 6% to Rs 192 on the BSE in noon deal after the company’s Pashamylaram’s unit successfully completed the United States Food and Drug Administration (USFDA) inspection.   So far Suven Life Sciences has filed 19 DMF’s (Drug Master File) and 5 ANDA’s (Abbreviated New Drug Application) from this facility which is FDA complaint under Current Good Manufacturing Processes (cGMP) and continued after renewal inspection. READ MORE

gained ground on Monday, tracking Asian peers, after tepid US jobs data on Friday eased fears of faster rate hikes by the US Federal Reserve (US Federal Reserve).

The S&P ended at 35,208, up 293 points while the broader Nifty50 index settled at 10,715, up 97 points.

The US jobs report for April showed unemployment dropping to a 17-1/2 year low of 3.9 per cent but wages barely improved, suggesting the US Fed would keep raising rates but at a gradual pace. However, analysts said crude oil prices and the rupee would be the other key factors affecting going ahead.

Among sectoral indices, the Metal index was up 1.5 per cent led by a rise in of Welspun Corp and Jindal Steel & Power. The Realty index also rose over one per cent, led by gains in Godrej Properties and DLF.

OIL PRICES

US oil rose above $70 a barrel for the first time since November 2014 as traders braced for a re-imposition of US sanctions on Middle East crude producer Iran.

Futures in New York and London jumped as much as 1.4 percent. While President Donald Trump has threatened he’ll pull out of a deal between Iran and world powers as a May 12 deadline nears, he’s signaled he’ll be open to negotiation. The 2015 accord eased sanctions on OPEC’s third-largest member in exchange for curbs on its nuclear program, and renewed American measures may stifle the Middle East nation’s crude exports.

GLOBAL MARKETS

Asian crept higher on Monday after a tame reading on US wages lowered the risk of faster rate hikes by the Federal Reserve, although Sino-US trade tensions and a looming deadline for the Iranian nuclear deal argued for caution.

The week ahead also has important readings on the health of the Chinese economy, and hence global demand, as well as the latest data on US consumer price inflation.

The MSCI’s broadest index of Asia-Pacific outside Japan was up 0.2 per cent, while Japan’s Nikkei was flat, and Australian added 0.3 per cent.

(with inputs from Reuters)

First Published: Mon, May 07 2018. 15:30 IST
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MARKETS ON MONDAY: Nifty ends above 10,700, Sensex up 293 pts; metals gain

Markets gained ground on Monday, tracking Asian peers, after tepid US jobs data on Friday

Markets gained ground on Monday, tracking Asian peers, after tepid US jobs data on Friday
gained ground on Monday, tracking Asian peers, after tepid US jobs data on Friday eased fears of faster rate hikes by the US Federal Reserve (US Federal Reserve).

The S&P ended at 35,208, up 293 points while the broader Nifty50 index settled at 10,715, up 97 points.

The US jobs report for April showed unemployment dropping to a 17-1/2 year low of 3.9 per cent but wages barely improved, suggesting the US Fed would keep raising rates but at a gradual pace. However, analysts said crude oil prices and the rupee would be the other key factors affecting going ahead.

Among sectoral indices, the Metal index was up 1.5 per cent led by a rise in of Welspun Corp and Jindal Steel & Power. The Realty index also rose over one per cent, led by gains in Godrej Properties and DLF.

OIL PRICES

US oil rose above $70 a barrel for the first time since November 2014 as traders braced for a re-imposition of US sanctions on Middle East crude producer Iran.

Futures in New York and London jumped as much as 1.4 percent. While President Donald Trump has threatened he’ll pull out of a deal between Iran and world powers as a May 12 deadline nears, he’s signaled he’ll be open to negotiation. The 2015 accord eased sanctions on OPEC’s third-largest member in exchange for curbs on its nuclear program, and renewed American measures may stifle the Middle East nation’s crude exports.

GLOBAL MARKETS

Asian crept higher on Monday after a tame reading on US wages lowered the risk of faster rate hikes by the Federal Reserve, although Sino-US trade tensions and a looming deadline for the Iranian nuclear deal argued for caution.

The week ahead also has important readings on the health of the Chinese economy, and hence global demand, as well as the latest data on US consumer price inflation.

The MSCI’s broadest index of Asia-Pacific outside Japan was up 0.2 per cent, while Japan’s Nikkei was flat, and Australian added 0.3 per cent.

(with inputs from Reuters)
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Business Standard
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MARKETS ON MONDAY: Nifty ends above 10,700, Sensex up 293 pts; metals gain

Markets gained ground on Monday, tracking Asian peers, after tepid US jobs data on Friday

gained ground on Monday, tracking Asian peers, after tepid US jobs data on Friday eased fears of faster rate hikes by the US Federal Reserve (US Federal Reserve).

The S&P ended at 35,208, up 293 points while the broader Nifty50 index settled at 10,715, up 97 points.

The US jobs report for April showed unemployment dropping to a 17-1/2 year low of 3.9 per cent but wages barely improved, suggesting the US Fed would keep raising rates but at a gradual pace. However, analysts said crude oil prices and the rupee would be the other key factors affecting going ahead.

Among sectoral indices, the Metal index was up 1.5 per cent led by a rise in of Welspun Corp and Jindal Steel & Power. The Realty index also rose over one per cent, led by gains in Godrej Properties and DLF.

OIL PRICES

US oil rose above $70 a barrel for the first time since November 2014 as traders braced for a re-imposition of US sanctions on Middle East crude producer Iran.

Futures in New York and London jumped as much as 1.4 percent. While President Donald Trump has threatened he’ll pull out of a deal between Iran and world powers as a May 12 deadline nears, he’s signaled he’ll be open to negotiation. The 2015 accord eased sanctions on OPEC’s third-largest member in exchange for curbs on its nuclear program, and renewed American measures may stifle the Middle East nation’s crude exports.

GLOBAL MARKETS

Asian crept higher on Monday after a tame reading on US wages lowered the risk of faster rate hikes by the Federal Reserve, although Sino-US trade tensions and a looming deadline for the Iranian nuclear deal argued for caution.

The week ahead also has important readings on the health of the Chinese economy, and hence global demand, as well as the latest data on US consumer price inflation.

The MSCI’s broadest index of Asia-Pacific outside Japan was up 0.2 per cent, while Japan’s Nikkei was flat, and Australian added 0.3 per cent.

(with inputs from Reuters)

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Business Standard
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