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MARKETS ON TUESDAY: Nifty ends above 10,600; metal stocks fall; RIL up 4%

Benchmark indices edged up on Tuesday, with financials and pharma stocks boosting sentiment

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE, Trade
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Market rundown Vinod Nair, head of research at Geojit Financial Services:   "Market extended gains backed by index heavyweights while correction in metals & IT were due to ease in sanctions by US and tightening of H1-B visa procedure capped the gains. Investors are likely to be cautious amid surging oil prices but any green shoots from corporate results & stability in yield will determine the market direction." Nifty IT index falls 1.99%. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) WIPRO 286.95 297.35 -10.40 -3.50 INFOSYS 1154.50 1187.70 -33.20 -2.80 TECH MAHINDRA 682.70 702.00 -19.30 -2.75 HCL TECHNOLOGIES 1061.95 1088.00 -26.05 -2.39 KPIT TECH. 241.70 245.80 -4.10 -1.67 Nifty Metal index ends 1.92% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) NATL. ALUMINIUM 78.60 84.85 -6.25 -7.37 HINDALCO INDS. 236.75 255.60 -18.85 -7.37 WELSPUN CORP 144.15 148.75 -4.60 -3.09 HIND.COPPER 74.65 76.65 -2.00 -2.61 VEDANTA 297.40 305.05 -7.65 -2.51 Sectoral Trend BSE Sensex: Top gainers and losers Market at close   The S&P BSE Sensex ended at 34,617, up 166 points while the broader Nifty50 index settled at 10,614, up 30 points.

Benchmark edged up on Tuesday, with financials and pharma boosting sentiment. That apart, Reliance Industries (RIL) gained nearly 4% in trade to end at Rs 970 levels.

However, gains  were capped by a fall in metal that slipped on the back of a fall in aluminium prices on the London Metal Exchange (LME).

The S&P ended at 34,617, up 166 points while the broader Nifty50 index settled at 10,614, up 30 points.

Aluminium prices continued to fall after Washington gave US customers of Russian producer United Company Rusal more time to close out their business with the company and comply with sanctions. The sanctions on Rusal had driven prices of the metal to their highest since mid-2011 recently on fears that the global market could face shortages.

Hindalco plunged as much as 9.3%, its biggest intraday percentage loss since early November 2016. Vedanta fell as much as 5.5% in intraday to end 2.4% lower, while National Aluminium was down 7%.

GLOBAL MARKETS

In the global markets, Asian steadied after hitting two-week lows on Tuesday as investors paused for breathe following a heavy sell-off in recent sessions and waited to see if the dollar's rally was sustainable.

MSCI's broadest index of Asia-Pacific outside Japan tacked on 0.1% following two straight days of declines that took to its lowest since April 9. Japan's Nikkei added 0.9% as a lower yen supported export-heavy firms. Chinese climbed 1.9%, while Hong Kong's Hang Seng index rose 1%.
 
(with inputs from Reuters)

First Published: Tue, April 24 2018. 15:32 IST
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MARKETS ON TUESDAY: Nifty ends above 10,600; metal stocks fall; RIL up 4%

Benchmark indices edged up on Tuesday, with financials and pharma stocks boosting sentiment

Benchmark indices edged up on Tuesday, with financials and pharma stocks boosting sentiment
Benchmark edged up on Tuesday, with financials and pharma boosting sentiment. That apart, Reliance Industries (RIL) gained nearly 4% in trade to end at Rs 970 levels.

However, gains  were capped by a fall in metal that slipped on the back of a fall in aluminium prices on the London Metal Exchange (LME).

The S&P ended at 34,617, up 166 points while the broader Nifty50 index settled at 10,614, up 30 points.

Aluminium prices continued to fall after Washington gave US customers of Russian producer United Company Rusal more time to close out their business with the company and comply with sanctions. The sanctions on Rusal had driven prices of the metal to their highest since mid-2011 recently on fears that the global market could face shortages.

Hindalco plunged as much as 9.3%, its biggest intraday percentage loss since early November 2016. Vedanta fell as much as 5.5% in intraday to end 2.4% lower, while National Aluminium was down 7%.

GLOBAL MARKETS

In the global markets, Asian steadied after hitting two-week lows on Tuesday as investors paused for breathe following a heavy sell-off in recent sessions and waited to see if the dollar's rally was sustainable.

MSCI's broadest index of Asia-Pacific outside Japan tacked on 0.1% following two straight days of declines that took to its lowest since April 9. Japan's Nikkei added 0.9% as a lower yen supported export-heavy firms. Chinese climbed 1.9%, while Hong Kong's Hang Seng index rose 1%.
 
(with inputs from Reuters)
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Business Standard
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MARKETS ON TUESDAY: Nifty ends above 10,600; metal stocks fall; RIL up 4%

Benchmark indices edged up on Tuesday, with financials and pharma stocks boosting sentiment

Benchmark edged up on Tuesday, with financials and pharma boosting sentiment. That apart, Reliance Industries (RIL) gained nearly 4% in trade to end at Rs 970 levels.

However, gains  were capped by a fall in metal that slipped on the back of a fall in aluminium prices on the London Metal Exchange (LME).

The S&P ended at 34,617, up 166 points while the broader Nifty50 index settled at 10,614, up 30 points.

Aluminium prices continued to fall after Washington gave US customers of Russian producer United Company Rusal more time to close out their business with the company and comply with sanctions. The sanctions on Rusal had driven prices of the metal to their highest since mid-2011 recently on fears that the global market could face shortages.

Hindalco plunged as much as 9.3%, its biggest intraday percentage loss since early November 2016. Vedanta fell as much as 5.5% in intraday to end 2.4% lower, while National Aluminium was down 7%.

GLOBAL MARKETS

In the global markets, Asian steadied after hitting two-week lows on Tuesday as investors paused for breathe following a heavy sell-off in recent sessions and waited to see if the dollar's rally was sustainable.

MSCI's broadest index of Asia-Pacific outside Japan tacked on 0.1% following two straight days of declines that took to its lowest since April 9. Japan's Nikkei added 0.9% as a lower yen supported export-heavy firms. Chinese climbed 1.9%, while Hong Kong's Hang Seng index rose 1%.
 
(with inputs from Reuters)

image
Business Standard
177 22