MARKETS ON MONDAY: Sensex ends 162 pts up, Nifty at 10,379 on Asian cues
All that happened in the markets today.
 "Markets, Stocks, BSE, NSE, Trade")
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The domestic markets ended higher on Monday taking cues from their Asian counterparts. The S&P BSE Sensex ended at 33,788, up 162 points while the broader Nifty50 index settled at 10,379, up 48 points.
Among sectoral indices, the Nifty FMCG index ended 1.13% up led by a rise in the shares of Marico and ITC.
Asian shares edged higher on Monday as a bounce in US stock futures soothed sentiment even as US President Donald Trump kept up his twitter war with China over trade just a couple of days before Chinese President Xi Jinping gives a keynote speech.
MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent. Japan's Nikkei wavered either side of flat, and South Korea edged ahead by 0.2 per cent.
Back home, upcoming quarterly results season, along with the release of macroeconomic data points on industrial production (IIP) and inflation, are expected to determine the trajectory of key equity indices this week.
According to market observers, global cues such as concerns over trade protectionist measures between the US and China, combined with the direction of foreign fund flows and crude oil prices, will also impact investors' risk-taking appetite.
(with Reuters inputs)
Among sectoral indices, the Nifty FMCG index ended 1.13% up led by a rise in the shares of Marico and ITC.
Asian shares edged higher on Monday as a bounce in US stock futures soothed sentiment even as US President Donald Trump kept up his twitter war with China over trade just a couple of days before Chinese President Xi Jinping gives a keynote speech.
MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent. Japan's Nikkei wavered either side of flat, and South Korea edged ahead by 0.2 per cent.
Back home, upcoming quarterly results season, along with the release of macroeconomic data points on industrial production (IIP) and inflation, are expected to determine the trajectory of key equity indices this week.
According to market observers, global cues such as concerns over trade protectionist measures between the US and China, combined with the direction of foreign fund flows and crude oil prices, will also impact investors' risk-taking appetite.
(with Reuters inputs)
4:30 PM
MARKET COMMENT
With a broader view, we would reiterate that worse is not over yet for our markets. What we saw on Monday was just a relief rally and hence, one needs to keep booking timely profits and ideally should stay light on positions
(Source: Angel Broking)
With a broader view, we would reiterate that worse is not over yet for our markets. What we saw on Monday was just a relief rally and hence, one needs to keep booking timely profits and ideally should stay light on positions
(Source: Angel Broking)
3:50 PM
Allegations against ICICI Bank pose reputational risks: Fitch
An investigation into allegations that India's ICICI Bank (BBB-/Stable/bbb-) extended a loan with a potential conflict of interest raises questions over the bank's governance and creates reputational risks, says Fitch Ratings. Other regulatory sanctions are also possible, depending on the outcome of the investigation.
The allegation relates to a $500 million loan to Videocon Group, whose controlling shareholder co-founded a separate company with the spouse of ICICI's CEO. A significant portion of the loan has since become non-performing. ICICI's board has denied any wrongdoing, highlighting that the loan was underwritten in accordance with the bank's credit standards and was extended as part of a consortium involving over 20 banks.
The bank has stressed that it has not given any credit to the borrower group outside of the consortium. Nevertheless, the presence of the bank's CEO on this credit committee - and the bank's reluctance to support an independent probe - have, in our opinion, created doubts over the strength of its corporate governance practices.
(Source: Fitch release)
The bank has stressed that it has not given any credit to the borrower group outside of the consortium. Nevertheless, the presence of the bank's CEO on this credit committee - and the bank's reluctance to support an independent probe - have, in our opinion, created doubts over the strength of its corporate governance practices.
(Source: Fitch release)
3:40 PM
Top gainers in Nifty Bank index:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| AXIS BANK | 517.40 | 500.20 | 17.20 | 3.44 |
| PUNJAB NATL.BANK | 105.10 | 102.15 | 2.95 | 2.89 |
| FEDERAL BANK | 99.50 | 97.25 | 2.25 | 2.31 |
| INDUSIND BANK | 1860.10 | 1824.15 | 35.95 | 1.97 |
| BANK OF BARODA | 153.25 | 150.40 | 2.85 | 1.89 |
3:39 PM
Top gainers in the Nifty FMCG index:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| MARICO | 327.35 | 320.65 | 6.70 | 2.09 |
| ITC | 265.50 | 260.85 | 4.65 | 1.78 |
| TATA GLOBAL | 277.25 | 272.70 | 4.55 | 1.67 |
| HIND. UNILEVER | 1391.00 | 1374.80 | 16.20 | 1.18 |
| JUBILANT FOOD. | 2449.35 | 2430.35 | 19.00 | 0.78 |
3:37 PM
Sectoral Trend
3:35 PM
BSE Sensex: top gainers and losers of the day
3:32 PM
Market at close
The S&P BSE Sensex ended at 33,788, up 162 points while the broader Nifty50 index settled at 10,379, up 48 points.
3:20 PM
RInfra stock quote:
NEWS WATCH RInfra wins Rs 1,081 cr contract for Kudankulam Nuclear Power Proj
Reliance Infrastructure Ltd (RInfra) today said it has won a Rs 1,081 crore contract from Nuclear Power Corporation of India Ltd (NPCIL) for works pertaining to two units of the Kudankulam project in Tamil Nadu. The company said its engineering, procurement and construction (EPC) division has won the contract amidst competition from leading players like BHEL, Larsen & Toubro, Tata Projects and BGR. READ MORE
RInfra stock quote:
2:59 PM
Tata Motors reclaims top spot in light commercial vehicles after two years
The previous financial year (FY18) belonged to Tata Motors in more ways than one. The country’s biggest commercial vehicle maker reclaimed leadership position in the light commercial vehicle (LCV) space from rival M&M after a gap of two years. Besides, the Mumbai-headquartered company also overtook Japanese car maker Honda to occupy the fourth spot in the domestic passenger vehicle market. READ MORE
The previous financial year (FY18) belonged to Tata Motors in more ways than one. The country’s biggest commercial vehicle maker reclaimed leadership position in the light commercial vehicle (LCV) space from rival M&M after a gap of two years. Besides, the Mumbai-headquartered company also overtook Japanese car maker Honda to occupy the fourth spot in the domestic passenger vehicle market. READ MORE
2:58 PM
ICICI board is said to be divided over CEO Chanda Kochhar's future
The board of India’s ICICI Bank Ltd., which less than two weeks earlier expressed full faith in Chief Executive Officer Chanda Kochhar, is divided over whether to ask her to step down as federal authorities investigate allegations of impropriety over loans made to Videocon group, people with knowledge of the matter said. READ THE FULL ARTICLE HERE
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First Published: Apr 09 2018 | 3:30 PM IST