MARKETS ON WEDNESDAY: Indices end lower, Nifty below 10,600; Airtel up 3%
Benchmark indices edged down on Wednesday, paring gains of nearly 5% this month, as investors booked profits
 "Markets, Stocks, BSE, NSE, Trade")
Photo: Shutterstock.com
Benchmark indices edged down on Wednesday, paring gains of nearly 5% this month, as investors booked profits amid weakened global sentiment.
The S&P BSE Sensex ended at 34,501, down 115 points while the broader Nifty50 index settled at 10,571, down 44 points.
The S&P BSE Sensex ended at 34,501, down 115 points while the broader Nifty50 index settled at 10,571, down 44 points.
Bharti Airtel rose 3%, after the company’s fourth quarter results beat expectations of a loss and as it approved a merger of its mobile masts unit with Indus Towers.
Among sectoral indices, the Nifty Metal index slipped over 1.5% led by a fall in shares of Welspun Corp and Hindalco Industries.
World shares were on their longest losing streak of the year on Wednesday, as a rise in US bond yields above 3 percent and warnings from top global firms about rising costs fed fears a boom in earnings may have peaked.
Falls in Asia’s and then Europe’s main bourses pushed the 47-country MSCI world share index down for a fifth day running to its lowest level in over two weeks.
(with inputs from Reuters)
3:52 PM
Market rundown by Anand James, chief market strategist at Geojit Financial Services
"Global volatility led by high bond yields in the US attracted some profit booking in the domestic markets, a day prior to the F&O expiry. Rupee hitting a 14 month low against the backdrop of persistent selling by the FIIs and the rollover numbers languishing at an eight month low figure added to the weakness in the domestic indices. But, healthier Q4 earnings numbers, continuing buying interest seen in the IT sector and marginal easing in oil prices guarded the key support levels in the benchmark indices."
3:48 PM
Nifty PSU Bank index ends 1.65%. Top losers:
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) |
| BANK OF BARODA | 136.35 | 141.85 | -5.50 | -3.88 |
| BANK OF INDIA | 97.30 | 101.05 | -3.75 | -3.71 |
| ORIENTAL BANK | 87.95 | 89.70 | -1.75 | -1.95 |
| UNION BANK (I) | 90.80 | 92.35 | -1.55 | -1.68 |
| CANARA BANK | 254.35 | 258.70 | -4.35 | -1.68 |
3:38 PM
Sectoral Trend
3:36 PM
BSE Sensex: Airtel, TCS among top gainers of the day, Tata Steel top loser
3:32 PM
Market at close
The S&P BSE Sensex ended at 34,501, down 115 points while the broader Nifty50 index settled at 10,571, down 44 points.
3:18 PM
Gold falls on strong dollar, higher US yields
Gold prices dropped on Wednesday as benchmark U.S. bond yields poked above the 3 percent level and lifted the dollar to its highest in more than three months. Spot gold was down half-a-percent at $1,323.59 per ounce READ MORE
3:04 PM
Buzzing Stocks
Shares of Ashok Leyland, Mahindra & Mahindra, Larsen & Toubro (L&T) Infotech, MindTree, Mphasis, Raymond and Syngene International were among 18 stock from the S&P BSE 500 index hitting record highs in otherwise weak market.
Shares of Ashok Leyland, Mahindra & Mahindra, Larsen & Toubro (L&T) Infotech, MindTree, Mphasis, Raymond and Syngene International were among 18 stock from the S&P BSE 500 index hitting record highs in otherwise weak market.
Chambal Fertilizers & Chemicals, Cyient, Indiabulls Ventures, Jamna Auto Industries, Lakshmi Machine Works, Sonata Software, SRF, Take Solutions, Tata Elxsi and Zensar Technologies too hit new highs today.
2:48 PM
Stock that rallied over 200% in 12 days
Zenith Exports is locked in upper circuit for the twelfth straight trading day, rising 5% at Rs 120, also its 52-week high on the BSE. The stock zoomed 208% from Rs 39 on April 9, 2018, as compared to 2.3% rise in the S&P BSE Sensex. READ MORE
2:33 PM
SBI Life Insurance, HDFC Standard Life Insurance hit new highs
Shares of life insurance companies were trading higher in otherwise subdued market with SBI Life Insurance Company and HDFC Standard Life Insurance Company hitting their respective new highs on the BSE on Wednesday.
ICICI Prudential Life Insurance Company (IPRU) has surged 11% to Rs 460, extending its Tuesday’s 7% gain after the company reported better than expected results for the financial year 2017-18 (FY18). READ MORE
2:15 PM
More steam left in Dalmia Bharat, analysts expect earnings to grow by 50%
One would tend to imagine that after having returned almost 42 per cent in the past one year, much higher than the -4 to 5 per cent returns seen in top cement stocks such as UltraTech Cement, Ambuja Cements and Shree Cement, investor comfort in Dalmia Bharat may not be very high.
However, if analysts are to be believed, the days ahead are equally good for Dalmia Bharat, one of India’s oldest cement companies.READ MORE
Topics :
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Apr 25 2018 | 3:30 PM IST