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Sensex, Nifty end flat; Oil marketing companies gain ground

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SI Reporter  |  New Delhi 

Markets at close Index Current Pt. Change % Change   S&P BSE SENSEX 32,609.16 -24.48 -0.08   S&P BSE SENSEX 50 10,621.00 0.52 0.00   S&P BSE SENSEX Next 50 34,980.82 +209.14 +0.60   S&P BSE 100 10,636.26 +10.76 +0.10   S&P BSE MidCap 16,114.50 +64.27 +0.40 (Source: BSE) Buzzing stock   Prakash Industries rallied to its almost seven-year high of Rs 149, up 9% on the BSE in intra-day trade after the company reported nearly five-fold jump in net profit at Rs 65 crore in September quarter (Q2FY18). It had posted profit of Rs 14 crore in the same quarter last fiscal year. The stock is trading at its highest level since November 2010.  MAS Financial Services to debut tomorrow    Non-banking financial company MAS Financial Services will make stock market debut tomorrow after having concluded its initial share sale offer last week.   The Rs 460-crore initial public offer (IPO) was over- subscribed 128 times from October 6-10.   The company had fixed the price band at Rs 456-459 per share for the IPO. Reliance Securities on KNR Constructions    KNR Constructions (KNRC) surged nearly 2% in Monday’s trade on expectations of better performance, led by possible surge in order inflow and execution expertise. Notably, KNRC has been very consistent in terms of execution and delivering higher growth over the years. We expect KNRC’s revenue and PAT to register 18% and 11% CAGR, respectively through FY17-FY19E on the back of decent order book and healthy order inflow in coming months. We maintain our positive view on KNRC mainly owing to healthy order book, strong balance sheet (0.1x net D/E) and sound execution credentials. We reiterate our fundamental BUY recommendation on the stock with a SOTP-based Target Price of Rs 245. Gold: Place long-term bets on structured plans   Roll-out of a uniform indirect tax code or GST and Prevention of Money Laundering Act, or PMLA, has put the gold market in a spot. At the global level, expectations that the US Federal Reserve may raise interest rates for a third time by December this year has prompted traders to take a cautious stance on bullion. Gold is highly sensitive to the US interest rates and inflation and increases the opportunity cost of holding non-yielding bullion which is priced in US greenback. READ MORE Markets check At 1:10 pm, the Sensex was trading at 32,588, down 44 points, while the broader Nifty50 was ruling at 10,220, down 10 points. 

The benchmark indices snapped three-session long gaining spree on Tuesday as investors turned cautious ahead of key corporate results. Profit booking in index heavyweights such as Reliance Industries and Tata Motors also capped gains. Country’s third-largest software services exporter Wipro, and Axis Bank, the third-biggest private sector lender by assets, are set to report September results later in the day. Wipro shed over 1% to Rs 286, while Axis Bank was trading flat at Rs 524 ahead of Q2.  Overseas, Asian shares held firm on optimism about upcoming earnings. ...

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First Published: Tue, October 17 2017. 16:40 IST
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Sensex, Nifty end flat; Oil marketing companies gain ground

Catch all live market action here

The benchmark indices snapped three-session long gaining spree on Tuesday as investors turned cautious ahead of key corporate results. Profit booking in index heavyweights such as Reliance Industries and Tata Motors also capped gains. Country’s third-largest software services exporter Wipro, and Axis Bank, the third-biggest private sector lender by assets, are set to report September results later in the day. Wipro shed over 1% to Rs 286, while Axis Bank was trading flat at Rs 524 ahead of Q2.  Overseas, Asian shares held firm on optimism about upcoming earnings. ...

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