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Market snaps 3-day gains on weak global cues

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Ending its three-day rising trend, the key benchmark indices edged lower on weak global stocks. The barometer index, the S&P Sensex, lost 223.98 points or 0.73% at 30,434.79, as per the provisional closing data. The 50 index was down 96.30 points or 1.01% at 9,429.45, as per the provisional closing data.

The dropped 82.94 points or 0.27% at the day's high of 30,575.83 in afternoon trade. The index fell 265.05 points or 0.86% at the day's low of 30,393..72 in late trade, its lowest level since 16 May 2017. The shed 36.65 points or 0.38% at the day's high of 9,489.10 in afternoon trade. The index lost 107.65 points or 1.13% at the day's low of 9,418.10 in late trade, its lowest level since 16 May 2017.

Realty stocks declined sharply. Today's slide was led by index heavyweights ITC, L&T and Reliance Industries (RIL).

Key benchmark indices saw a gap-down opening following weak global cues as concerns over President Donald Trump's administration spooked investors. Key indices languished in the negative terrain later during the session. Market extended slide in late trade to hit fresh intraday low.

The S&P Mid-Cap index provisionally fell 2.16%. The S&P Small-Cap index provisionally fell 2.04%. The fall in both these indices was higher than the Sensex's decline in percentage terms.

The broad market depicted weakness. There were almost three losers against every gainer on 2,043 shares declined and 702 shares rose. A total of 165 shares were unchanged.

The total turnover on amounted to Rs 4293.77 crore, lower than the turnover of Rs 6808.38 crore registered during the previous trading session.

Index heavyweight Reliance Industries (RIL) dropped 1.87% to Rs 1,327.05. The stock hit high of Rs 1,352 and low of Rs 1,323.30 in intraday trade.

Bajaj Auto lost 2.54% after consolidated net profit fell 13.44% to Rs 862.25 crore on 8.7% decline in total revenue from operations to Rs 5212.83 crore in Q4 March 2017 over Q4 March 2016. The result was announced during market hours today, 18 May 2017.

Bajaj Auto's standalone net profit fell 15.48% to Rs 802 crore on 7.72% decline in total income to Rs 5506 crore in Q4 March 2017 over Q4 March 2016.

The company's standalone operating earnings before interest, taxation, depreciation and amortization (EBITDA) dropped by 16.25% to Rs 1056 crore in Q4 March 2017 over Q4 March 2016. Operating EBITDA margin contracted to 21.2% in Q4 March 2017, from 23.3% in Q4 March 2016. The drop in the margins was due to rise in input material cost, increase in costs on transition from BS III to BS IV compliant vehicles.

Hindustan Unilever lost 2.01%. The company's net profit rose 6.19% to Rs 1183 crore on 6.39% rise in total income to Rs 8969 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 17 May 2017.

HUL's Chairman Harish Manwani said that Q4 March 2017 has been a strong quarter with profitable volume driven growth. With gradual improvement in market conditions, the company remains optimistic about the medium term outlook for its sector.

Manwani believes that the Goods & Services Tax (GST) will be a win-win for all stakeholders.

Hindustan Unilever recommended a final dividend of Rs 10 per share for the financial year ended March 2017.

Realty stocks dropped. DLF (down 3.22%), Indiabulls Real Estate (down 3.63%), Housing Development and Infrastructure (down 5.25%), D B Realty (down 3.62%), Unitech (down 4.48%), Sobha (down 4.8%), Godrej Properties (down 2.26%), Prestige Estates Projects (down 1.83%), Oberoi Realty (down 2.36%), and Parsvnath Developers (down 1.96%) fell.

Overseas, European and Asian stocks edged lower as fears over the fallout from turmoil in Washington prompted investors to unload risky assets such as equities. In US, the Nasdaq yesterday, 17 May 2017 saw its worst one-day decline since the day after U.K.'s vote to exit from the European Union rattled markets, as turmoil in Washington cast doubt on President Donald Trump's pro-growth agenda that had helped to drive stocks to records.

On data front, Japan's economy picked up speed in the first three months of 2017. Gross domestic product beat forecasts and rise 2.2% on an annualized basis from the previous three months, according to preliminary figures released.

Political uncertainty sent the S&P 500 index down 43.64 points, or 1.8%, to 2,357.03. The Dow sank 372.82 points, or 1.8%, to finish at 20,606.93. The Nasdaq Composite Index dropped 158.63 points, or 2.6%, to end at 6,011.24.

The administration is facing scrutiny about whether the president asked the former head of the FBI to drop an investigation, as well as questions about his handling of secret intelligence. The Justice Department named a special counsel to oversee the FBI's investigation of Russia's efforts to influence the 2016 election.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Market snaps 3-day gains on weak global cues

Ending its three-day rising trend, the key benchmark indices edged lower on weak global stocks. The barometer index, the S&P BSE Sensex, lost 223.98 points or 0.73% at 30,434.79, as per the provisional closing data. The Nifty 50 index was down 96.30 points or 1.01% at 9,429.45, as per the provisional closing data.

Ending its three-day rising trend, the key benchmark indices edged lower on weak global stocks. The barometer index, the S&P Sensex, lost 223.98 points or 0.73% at 30,434.79, as per the provisional closing data. The 50 index was down 96.30 points or 1.01% at 9,429.45, as per the provisional closing data.

The dropped 82.94 points or 0.27% at the day's high of 30,575.83 in afternoon trade. The index fell 265.05 points or 0.86% at the day's low of 30,393..72 in late trade, its lowest level since 16 May 2017. The shed 36.65 points or 0.38% at the day's high of 9,489.10 in afternoon trade. The index lost 107.65 points or 1.13% at the day's low of 9,418.10 in late trade, its lowest level since 16 May 2017.

Realty stocks declined sharply. Today's slide was led by index heavyweights ITC, L&T and Reliance Industries (RIL).

Key benchmark indices saw a gap-down opening following weak global cues as concerns over President Donald Trump's administration spooked investors. Key indices languished in the negative terrain later during the session. Market extended slide in late trade to hit fresh intraday low.

The S&P Mid-Cap index provisionally fell 2.16%. The S&P Small-Cap index provisionally fell 2.04%. The fall in both these indices was higher than the Sensex's decline in percentage terms.

The broad market depicted weakness. There were almost three losers against every gainer on 2,043 shares declined and 702 shares rose. A total of 165 shares were unchanged.

The total turnover on amounted to Rs 4293.77 crore, lower than the turnover of Rs 6808.38 crore registered during the previous trading session.

Index heavyweight Reliance Industries (RIL) dropped 1.87% to Rs 1,327.05. The stock hit high of Rs 1,352 and low of Rs 1,323.30 in intraday trade.

Bajaj Auto lost 2.54% after consolidated net profit fell 13.44% to Rs 862.25 crore on 8.7% decline in total revenue from operations to Rs 5212.83 crore in Q4 March 2017 over Q4 March 2016. The result was announced during market hours today, 18 May 2017.

Bajaj Auto's standalone net profit fell 15.48% to Rs 802 crore on 7.72% decline in total income to Rs 5506 crore in Q4 March 2017 over Q4 March 2016.

The company's standalone operating earnings before interest, taxation, depreciation and amortization (EBITDA) dropped by 16.25% to Rs 1056 crore in Q4 March 2017 over Q4 March 2016. Operating EBITDA margin contracted to 21.2% in Q4 March 2017, from 23.3% in Q4 March 2016. The drop in the margins was due to rise in input material cost, increase in costs on transition from BS III to BS IV compliant vehicles.

Hindustan Unilever lost 2.01%. The company's net profit rose 6.19% to Rs 1183 crore on 6.39% rise in total income to Rs 8969 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 17 May 2017.

HUL's Chairman Harish Manwani said that Q4 March 2017 has been a strong quarter with profitable volume driven growth. With gradual improvement in market conditions, the company remains optimistic about the medium term outlook for its sector.

Manwani believes that the Goods & Services Tax (GST) will be a win-win for all stakeholders.

Hindustan Unilever recommended a final dividend of Rs 10 per share for the financial year ended March 2017.

Realty stocks dropped. DLF (down 3.22%), Indiabulls Real Estate (down 3.63%), Housing Development and Infrastructure (down 5.25%), D B Realty (down 3.62%), Unitech (down 4.48%), Sobha (down 4.8%), Godrej Properties (down 2.26%), Prestige Estates Projects (down 1.83%), Oberoi Realty (down 2.36%), and Parsvnath Developers (down 1.96%) fell.

Overseas, European and Asian stocks edged lower as fears over the fallout from turmoil in Washington prompted investors to unload risky assets such as equities. In US, the Nasdaq yesterday, 17 May 2017 saw its worst one-day decline since the day after U.K.'s vote to exit from the European Union rattled markets, as turmoil in Washington cast doubt on President Donald Trump's pro-growth agenda that had helped to drive stocks to records.

On data front, Japan's economy picked up speed in the first three months of 2017. Gross domestic product beat forecasts and rise 2.2% on an annualized basis from the previous three months, according to preliminary figures released.

Political uncertainty sent the S&P 500 index down 43.64 points, or 1.8%, to 2,357.03. The Dow sank 372.82 points, or 1.8%, to finish at 20,606.93. The Nasdaq Composite Index dropped 158.63 points, or 2.6%, to end at 6,011.24.

The administration is facing scrutiny about whether the president asked the former head of the FBI to drop an investigation, as well as questions about his handling of secret intelligence. The Justice Department named a special counsel to oversee the FBI's investigation of Russia's efforts to influence the 2016 election.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Business Standard
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Market snaps 3-day gains on weak global cues

Ending its three-day rising trend, the key benchmark indices edged lower on weak global stocks. The barometer index, the S&P Sensex, lost 223.98 points or 0.73% at 30,434.79, as per the provisional closing data. The 50 index was down 96.30 points or 1.01% at 9,429.45, as per the provisional closing data.

The dropped 82.94 points or 0.27% at the day's high of 30,575.83 in afternoon trade. The index fell 265.05 points or 0.86% at the day's low of 30,393..72 in late trade, its lowest level since 16 May 2017. The shed 36.65 points or 0.38% at the day's high of 9,489.10 in afternoon trade. The index lost 107.65 points or 1.13% at the day's low of 9,418.10 in late trade, its lowest level since 16 May 2017.

Realty stocks declined sharply. Today's slide was led by index heavyweights ITC, L&T and Reliance Industries (RIL).

Key benchmark indices saw a gap-down opening following weak global cues as concerns over President Donald Trump's administration spooked investors. Key indices languished in the negative terrain later during the session. Market extended slide in late trade to hit fresh intraday low.

The S&P Mid-Cap index provisionally fell 2.16%. The S&P Small-Cap index provisionally fell 2.04%. The fall in both these indices was higher than the Sensex's decline in percentage terms.

The broad market depicted weakness. There were almost three losers against every gainer on 2,043 shares declined and 702 shares rose. A total of 165 shares were unchanged.

The total turnover on amounted to Rs 4293.77 crore, lower than the turnover of Rs 6808.38 crore registered during the previous trading session.

Index heavyweight Reliance Industries (RIL) dropped 1.87% to Rs 1,327.05. The stock hit high of Rs 1,352 and low of Rs 1,323.30 in intraday trade.

Bajaj Auto lost 2.54% after consolidated net profit fell 13.44% to Rs 862.25 crore on 8.7% decline in total revenue from operations to Rs 5212.83 crore in Q4 March 2017 over Q4 March 2016. The result was announced during market hours today, 18 May 2017.

Bajaj Auto's standalone net profit fell 15.48% to Rs 802 crore on 7.72% decline in total income to Rs 5506 crore in Q4 March 2017 over Q4 March 2016.

The company's standalone operating earnings before interest, taxation, depreciation and amortization (EBITDA) dropped by 16.25% to Rs 1056 crore in Q4 March 2017 over Q4 March 2016. Operating EBITDA margin contracted to 21.2% in Q4 March 2017, from 23.3% in Q4 March 2016. The drop in the margins was due to rise in input material cost, increase in costs on transition from BS III to BS IV compliant vehicles.

Hindustan Unilever lost 2.01%. The company's net profit rose 6.19% to Rs 1183 crore on 6.39% rise in total income to Rs 8969 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 17 May 2017.

HUL's Chairman Harish Manwani said that Q4 March 2017 has been a strong quarter with profitable volume driven growth. With gradual improvement in market conditions, the company remains optimistic about the medium term outlook for its sector.

Manwani believes that the Goods & Services Tax (GST) will be a win-win for all stakeholders.

Hindustan Unilever recommended a final dividend of Rs 10 per share for the financial year ended March 2017.

Realty stocks dropped. DLF (down 3.22%), Indiabulls Real Estate (down 3.63%), Housing Development and Infrastructure (down 5.25%), D B Realty (down 3.62%), Unitech (down 4.48%), Sobha (down 4.8%), Godrej Properties (down 2.26%), Prestige Estates Projects (down 1.83%), Oberoi Realty (down 2.36%), and Parsvnath Developers (down 1.96%) fell.

Overseas, European and Asian stocks edged lower as fears over the fallout from turmoil in Washington prompted investors to unload risky assets such as equities. In US, the Nasdaq yesterday, 17 May 2017 saw its worst one-day decline since the day after U.K.'s vote to exit from the European Union rattled markets, as turmoil in Washington cast doubt on President Donald Trump's pro-growth agenda that had helped to drive stocks to records.

On data front, Japan's economy picked up speed in the first three months of 2017. Gross domestic product beat forecasts and rise 2.2% on an annualized basis from the previous three months, according to preliminary figures released.

Political uncertainty sent the S&P 500 index down 43.64 points, or 1.8%, to 2,357.03. The Dow sank 372.82 points, or 1.8%, to finish at 20,606.93. The Nasdaq Composite Index dropped 158.63 points, or 2.6%, to end at 6,011.24.

The administration is facing scrutiny about whether the president asked the former head of the FBI to drop an investigation, as well as questions about his handling of secret intelligence. The Justice Department named a special counsel to oversee the FBI's investigation of Russia's efforts to influence the 2016 election.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22