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Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

All that happened in the markets today.

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SI Reporter  |  New Delhi 

The benchmark indices ended lower on Wednesday on  fiscal deficit concerns. The S&P BSE Sensex ended at 34,184, down 162 points while the broader Nifty50 index settled at 10,493, down 61 points. In economic data released today, India reported a fiscal deficit of Rs 6.77 trillion ($103.72 billion) for April-January or 113.7 per cent of the target originally set for the fiscal year that ends in March. Meanwhile, growth in India's factory activity slowed to a four-month low in February as new orders eased and weighed on output after manufacturers raised prices at the fastest ...

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Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

MARKET COMMENT: Jayant Manglik, President, Religare Broking Indian market saw another lackluster trading session amid volatility, taking cues from global markets and dismal PMI data. The Nifty index ended down 0.6% led by selling in Banking, Metal and Capital Goods stocks. The broader market indices outperformed the frontline index. On global front, Asian and Europeans markets faltered and bonds were sold off as risk appetite soured after comments from new Federal Reserve Chair revived fears about faster rate rises in the US.   We expect the Indian equities to consolidate in the coming sessions without any major triggers in the near term. Also global developments could lead to market volatility in the near term. However, any further correction at this juncture should be considered as a healthy buying opportunity for investors in quality companies with strong financials and bright outlook. Meanwhile traders should remain cautious and keep their positions hedged, as volatility is likely to remain high in the coming sessions  

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

Sectoral Watch Private banks fall, Nifty Bank ends 1% lower

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

Sectoral watch Nifty PSU Banks pare losses, ends in green

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

Sectoral Trend

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

Sensex top gainers and losers

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

Markets at Close   The S&P BSE Sensex ended at 34,184, down 162 points while the broader Nifty50 index settled at 10,492, down 61 points.

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

Infosys gains for second straight day in weak market Infosys was up nearly 4% to Rs 1,189 on Wednesday in intra-day trade, extending its Tuesday’s 0.6% gain on the BSE in otherwise weak market. The stock trading close to its 52-week high of Rs 1,220 touched on January 24, 2018 in intra-day trade. READ MORE

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

April-January fiscal deficit touches 113.7% of full-year target   India reported on Wednesday a fiscal deficit of Rs 6.77 trillion ($103.72 billion) for April-January or 113.7 per cent of the target originally set for the fiscal year that ends in March.   Net tax receipts in the first ten months of 2017/18 fiscal year were Rs 9.7 trillion, government data showed. READ MORE

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

Elara Capital on Strides Shasun   Given corporate actions over FY17-18, the company will now focus on the B2C model, which remains profitable with improved leverage. It has multiple drivers, comprising the US, Australia & EU generics, branded formulations across Africa and institutional supplies (HIV & malaria).    We see a pickup in profitability, aided by niche launches in the US, healthy institutional supplies and continued momentum in the Australia business. Recommend Buy with a target price of Rs 1,025 on 18x December 2019E P/E and Rs 70 for its API business.

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

PNB scam throws long shadow on diamond industry in Surat, deals drop 10%   The Nirav Modi-Mehul Choksi scam has thrown a long shadow on the diamond polishing and trading industry, with its hub in Surat, Gujarat. Deals are down 8-10 per cent since the incident came to the fore on February 14. “Diamantaires do not want to take chances. Also, now, banks are tight-fisted about disbursing working capital, especially to diamantaires. This has slowed business by at least 10 per cent,” said Kirti Shah, a Surat-based diamond polisher and trader. READ MORE

Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

Market Check S&P BSE Sensex 34,259.90 -0.25%   Nifty 50 10,515.45 -0.37%   S&P BSE 200 4,600.39 -0.24%   Nifty 500 9,273.65 -0.31%   S&P BSE Mid-Cap 16,574.26 -0.16%   S&P BSE Small-Cap 18,112.52 0.12%

First Published: Wed, February 28 2018. 15:30 IST
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Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns

All that happened in the markets today.

The benchmark indices ended lower on Wednesday on  fiscal deficit concerns. The S&P BSE Sensex ended at 34,184, down 162 points while the broader Nifty50 index settled at 10,493, down 61 points. In economic data released today, India reported a fiscal deficit of Rs 6.77 trillion ($103.72 billion) for April-January or 113.7 per cent of the target originally set for the fiscal year that ends in March. Meanwhile, growth in India's factory activity slowed to a four-month low in February as new orders eased and weighed on output after manufacturers raised prices at the fastest ...

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