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MARKETS ON TUESDAY: Indices end flat, Nifty holds 10700; ICICI Bank up 6.6%

Benchmark indices ended flat on Tuesday taking mixed cues from the Asian counterparts

SI Reporter  |  New Delhi 

Photo: Shutterstock.com
Photo: Shutterstock.com

Market rundown by Vinod Nair, Head of Research, Geojit Financial Services   "Market turned volatile as investors’ are concerned on the movement of rupee and surge in oil price which could eventually lead to tight monetary policy. Albeit, banks outperformed as sentiment improved on account of early recognition of stressed assets. Continued outflow of foreign money will keep rupee on tenterhook while increasing GST collection and RBIs open market operation may soften the volatility. "   Nifty Bank index up nearly 1%: Top gainers from the pack COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME ICICI BANK 308.50 289.80 18.70 6.45 87171264 FEDERAL BANK 103.70 101.20 2.50 2.47 15399268 ST BK OF INDIA 250.30 246.50 3.80 1.54 23278419 BANK OF BARODA 145.50 143.55 1.95 1.36 15825358 AXIS BANK 543.15 536.10 7.05 1.32 12027147   ICICI Bank top gainer post Q4 results Sectoral Trend Top Sensex gainers and losers Markets at Close The S&P BSE Sensex ended the day at 35,216 up 8 points while the broader Nifty50 index settled at 10,718 , up 2 points

Benchmark ended flat on Tuesday, tracking their Asian counterparts. 

The S&P ended the day at 35,216 up 8 points while the broader Nifty50 index settled at 10,718 , up 2 points

Meanwhile, stock-specific actions continued on Tuesday as we are in the middle of March 2018 quarter season.

Among individual stocks, ICICI Bank rose 7 per cent and was the biggest gainer on the broader index. Brokerages have retained their ‘buy’ rating on the stock citing a significant decline in the “drilldown” list of potential troubled loans. The bank’s net profit almost halved to Rs 10.20 billion for the quarter ended March 31.

& OIL

Globally, oil prices eased slightly on Tuesday, a day after hitting 3-1/2 year highs, as investors braced for President Donald Trump’s decision on whether to withdraw the United States from the Iran nuclear deal, a move that could disrupt global oil supply.

While caution on Trump’s statement kept investors edgy in early trade, technology firms helped to generate gains for Asian equities.

MSCI’s broadest index of Asia-Pacific outside Japan gained 0.6 per cent, with information technology rising 1.3 per cent. Japan’s Nikkei was 0.2 per cent higher.

(with Reuters inputs)

First Published: Tue, May 08 2018. 15:30 IST
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MARKETS ON TUESDAY: Indices end flat, Nifty holds 10700; ICICI Bank up 6.6%

Benchmark indices ended flat on Tuesday taking mixed cues from the Asian counterparts

Benchmark indices ended flat on Tuesday taking mixed cues from the Asian counterparts Benchmark ended flat on Tuesday, tracking their Asian counterparts. 

The S&P ended the day at 35,216 up 8 points while the broader Nifty50 index settled at 10,718 , up 2 points

Meanwhile, stock-specific actions continued on Tuesday as we are in the middle of March 2018 quarter season.

Among individual stocks, ICICI Bank rose 7 per cent and was the biggest gainer on the broader index. Brokerages have retained their ‘buy’ rating on the stock citing a significant decline in the “drilldown” list of potential troubled loans. The bank’s net profit almost halved to Rs 10.20 billion for the quarter ended March 31.

& OIL

Globally, oil prices eased slightly on Tuesday, a day after hitting 3-1/2 year highs, as investors braced for President Donald Trump’s decision on whether to withdraw the United States from the Iran nuclear deal, a move that could disrupt global oil supply.

While caution on Trump’s statement kept investors edgy in early trade, technology firms helped to generate gains for Asian equities.

MSCI’s broadest index of Asia-Pacific outside Japan gained 0.6 per cent, with information technology rising 1.3 per cent. Japan’s Nikkei was 0.2 per cent higher.

(with Reuters inputs)
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Business Standard
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MARKETS ON TUESDAY: Indices end flat, Nifty holds 10700; ICICI Bank up 6.6%

Benchmark indices ended flat on Tuesday taking mixed cues from the Asian counterparts

Benchmark ended flat on Tuesday, tracking their Asian counterparts. 

The S&P ended the day at 35,216 up 8 points while the broader Nifty50 index settled at 10,718 , up 2 points

Meanwhile, stock-specific actions continued on Tuesday as we are in the middle of March 2018 quarter season.

Among individual stocks, ICICI Bank rose 7 per cent and was the biggest gainer on the broader index. Brokerages have retained their ‘buy’ rating on the stock citing a significant decline in the “drilldown” list of potential troubled loans. The bank’s net profit almost halved to Rs 10.20 billion for the quarter ended March 31.

& OIL

Globally, oil prices eased slightly on Tuesday, a day after hitting 3-1/2 year highs, as investors braced for President Donald Trump’s decision on whether to withdraw the United States from the Iran nuclear deal, a move that could disrupt global oil supply.

While caution on Trump’s statement kept investors edgy in early trade, technology firms helped to generate gains for Asian equities.

MSCI’s broadest index of Asia-Pacific outside Japan gained 0.6 per cent, with information technology rising 1.3 per cent. Japan’s Nikkei was 0.2 per cent higher.

(with Reuters inputs)

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Business Standard
177 22