ALSO READSensex ends below 36000, Nifty marginally lower as LTCG tax proposed Budget 2018: Full text of direct tax provisions in Finance Bill 2018 Budget 2018 Impact on Market: Most traded stocks outside NSE Nifty Budget 2018 Impact: Half the Nifty50 companies end the day in red Budget 2018 Market Impact: Most newly listed stocks escape unhurt
Market rundown by Vinod Nair, Head of Research, Geojit Financial Services Market skid as deviation in fiscal path and higher rural spending dampened investor’s sentiment. Additionally, rising inflation & yield may push RBI to be more hawkish on interest rate in the upcoming monetary policy. However, earnings season is picking up pace which is giving a sense to the participants to accumulate as long term prospects remain intact. Nifty realty cracks over 6% Sectoral Trend Sensex top gainers and losers Markets at Close Benchmark indices tumbled on Friday as the long-term capital gains tax on equities investments dampened sentiment, while bonds slid for a second consecutive session on worries the central bank would become more hawkish on inflation. The S&P BSE Sensex ended at 35,066, down 839 points while the broader Nifty50 index settled at 10,760, down 256 points. Earnings: Two-and three-wheeler major Bajaj Auto reported lower than expected net profit for the December quarter at Rs 9.52 billion against Rs 9.24 billion year on year. The company’s revenue rose 26% at Rs 63.69 billion against Rs 50.67 billion year on year. At the operating level, the earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to Rs 12.31 billion against Rs 10.43 billion.