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MARKETS ON FRIDAY: Indices end higher but Nifty fails to hold 10,500-mark

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017

SI Reporter  |  New Delhi 

MARKETS LIVE: Indices slip from day's high; Infosys Q4FY18 results awaited

Sectoral Trend BSE Sensex: top gainers and losers of the day Market at close   The S&P BSE Sensex ended at 34,193, up 92 points while the broader Nifty50 index settled at 10,481, up 22 points. IDBI Bank: High NPAs, new bad loan rules seen offsetting inflows   IDBI Bank has joined the bandwagon of public sector banks (PSBs) rushing to sell their non-core assets to strengthen their balance sheet. Recently, the lender sold a commercial building for Rs 9 billion, taking the total non-core asset sales to over Rs 41 billion in FY18.   Also, the government provided Rs 106.1 billion recapitalisation amount, the highest among PSBs, to this cash-starved bank. But these efforts seem insufficient given the bank’s high net non-performing assets (NPAs) worth Rs 293.5 billion as of December 2017. READ MORE Oil heads for biggest weekly gain since July Oil prices edged higher on Friday, heading for their largest weekly gain since July after U.S. President Trump's comments about possible military action in Syria and reports of dwindling global oil stocks. Brent crude rose by 44 cents to $72.46 a barrel at 0821 GMT, up about 8 percent on the week. READ MORE BUZZING STOCK   KPIT Technologies  rose for a third straight session, quoting at Rs 230.5, up 1.86% on the day as on the NSE. KPIT Technologies is up 79.24% in last one year as compared to a 14.96% gain in Nifty and a 33.16% gain in the Nifty IT index.

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017, on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank.

Sentiment was also upbeat after retail inflation eased to a five-month low in March, but remained above the central bank’s medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June.

Investors now await January-March corporate results for future direction. IT Major Infosys will kick-start the March-quarter results season later in the day.

Meanwhile, Global stocks recovered to three-week highs on Friday as anticipated strong earnings season took centre stage after US President Donald Trump backtracked on his suggestion of an imminent missile attack on Syria.

Trump said in a tweet on Thursday that a possible attack on Syria could occur "very soon or not so soon at all," easing fears of confrontation with Russia.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent while Japan's Nikkei gained 0.8 per cent.

(with inputs from Reuters)

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First Published: Fri, April 13 2018. 15:30 IST

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MARKETS ON FRIDAY: Indices end higher but Nifty fails to hold 10,500-mark

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017
Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017, on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank.

Sentiment was also upbeat after retail inflation eased to a five-month low in March, but remained above the central bank’s medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June.

Investors now await January-March corporate results for future direction. IT Major Infosys will kick-start the March-quarter results season later in the day.

Meanwhile, Global stocks recovered to three-week highs on Friday as anticipated strong earnings season took centre stage after US President Donald Trump backtracked on his suggestion of an imminent missile attack on Syria.

Trump said in a tweet on Thursday that a possible attack on Syria could occur "very soon or not so soon at all," easing fears of confrontation with Russia.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent while Japan's Nikkei gained 0.8 per cent.

(with inputs from Reuters) image
Business Standard
177 22

MARKETS ON FRIDAY: Indices end higher but Nifty fails to hold 10,500-mark

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017

Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017, on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank.

Sentiment was also upbeat after retail inflation eased to a five-month low in March, but remained above the central bank’s medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June.

Investors now await January-March corporate results for future direction. IT Major Infosys will kick-start the March-quarter results season later in the day.

Meanwhile, Global stocks recovered to three-week highs on Friday as anticipated strong earnings season took centre stage after US President Donald Trump backtracked on his suggestion of an imminent missile attack on Syria.

Trump said in a tweet on Thursday that a possible attack on Syria could occur "very soon or not so soon at all," easing fears of confrontation with Russia.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent while Japan's Nikkei gained 0.8 per cent.

(with inputs from Reuters)

image
Business Standard
177 22