MARKETS ON MONDAY: Nifty ends above 10,700, Sensex up 293 pts; metals gain
Markets gained ground on Monday, tracking Asian peers, after tepid US jobs data on Friday
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Markets gained ground on Monday, tracking Asian peers, after tepid US jobs data on Friday eased fears of faster rate hikes by the US Federal Reserve (US Federal Reserve).
The S&P BSE Sensex ended at 35,208, up 293 points while the broader Nifty50 index settled at 10,715, up 97 points.
The S&P BSE Sensex ended at 35,208, up 293 points while the broader Nifty50 index settled at 10,715, up 97 points.
The US jobs report for April showed unemployment dropping to a 17-1/2 year low of 3.9 per cent but wages barely improved, suggesting the US Fed would keep raising rates but at a gradual pace. However, analysts said crude oil prices and the rupee would be the other key factors affecting markets going ahead.
Among sectoral indices, the Nifty Metal index was up 1.5 per cent led by a rise in shares of Welspun Corp and Jindal Steel & Power. The Nifty Realty index also rose over one per cent, led by gains in Godrej Properties and DLF.
OIL PRICES
US oil rose above $70 a barrel for the first time since November 2014 as traders braced for a re-imposition of US sanctions on Middle East crude producer Iran.
Futures in New York and London jumped as much as 1.4 percent. While President Donald Trump has threatened he’ll pull out of a deal between Iran and world powers as a May 12 deadline nears, he’s signaled he’ll be open to negotiation. The 2015 accord eased sanctions on OPEC’s third-largest member in exchange for curbs on its nuclear program, and renewed American measures may stifle the Middle East nation’s crude exports.
GLOBAL MARKETS
Asian shares crept higher on Monday after a tame reading on US wages lowered the risk of faster rate hikes by the Federal Reserve, although Sino-US trade tensions and a looming deadline for the Iranian nuclear deal argued for caution.
The week ahead also has important readings on the health of the Chinese economy, and hence global demand, as well as the latest data on US consumer price inflation.
The MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 per cent, while Japan’s Nikkei was flat, and Australian stocks added 0.3 per cent.
(with inputs from Reuters)
(with inputs from Reuters)
3:40 PM
Nifty Metal index climbs 1.68%. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| WELSPUN CORP | 150.00 | 140.25 | 9.75 | 6.95 |
| JINDAL STEEL | 255.75 | 240.65 | 15.10 | 6.27 |
| S A I L | 74.95 | 72.35 | 2.60 | 3.59 |
| JSW STEEL | 326.70 | 317.40 | 9.30 | 2.93 |
| HINDALCO INDS. | 237.80 | 231.35 | 6.45 | 2.79 |
3:37 PM
Nifty PSU Bank index ends 2.18% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| INDIAN BANK | 321.35 | 310.00 | 11.35 | 3.66 |
| BANK OF BARODA | 143.55 | 139.90 | 3.65 | 2.61 |
| CANARA BANK | 262.05 | 255.60 | 6.45 | 2.52 |
| PUNJAB NATL.BANK | 93.65 | 91.55 | 2.10 | 2.29 |
| ALLAHABAD BANK | 48.30 | 47.25 | 1.05 | 2.22 |
3:35 PM
Sectoral gainers and losers of the day
3:33 PM
BSE Sensex: M&M, ICICI Bank top gainers of the day, Coal India top loser
3:31 PM
Market at close
The S&P BSE Sensex ended at 35,208, up 293 points while the broader Nifty50 index settled at 10,715, up 97 points.
3:26 PM
Suven Life up 6% as Pashamylaram's unit completes USFDA inspection
Suven Life Sciences has moved higher by 6% to Rs 192 on the BSE in noon deal after the company’s Pashamylaram’s unit successfully completed the United States Food and Drug Administration (USFDA) inspection.
So far Suven Life Sciences has filed 19 DMF’s (Drug Master File) and 5 ANDA’s (Abbreviated New Drug Application) from this facility which is FDA complaint under Current Good Manufacturing Processes (cGMP) and continued after renewal inspection. READ MORE
3:15 PM
Reliance Infra surges 8% after bagging Versova-Bandra Sea Link contract
Shares of Anil Dhirubhai Ambani Group (ADAG) companies were in focus, trading higher by up to 8% on the BSE on back of heavy volumes.
Reliance Infrastructure, Reliance Power, Reliance Capital, Reliance Naval and Engineering and Reliance Communications were up in the range of 2% to 8% on the BSE. READ MORE
3:01 PM
Screen additions, ad growth, ticket prices bode well for PVR's FY19 show
India’s largest film exhibitor put out a strong March quarter performance, beating Street estimates on all counts. Revenues were up 19 per cent over the year-ago period. primarily on account of higher average ticket prices, which increased by 10 per cent, and 5 per cent more footfalls.
Footfalls on a comparable basis however fell by 2 per cent on account of a strike by South Indian film producers and issues concerning the release of Padmavat in certain states. Had it not been for the two issues, comparable footfalls would have been up 8 per cent. READ MORE
2:56 PM
INDEX WATCH
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 35,222.85 | +307.47 | +0.88 |
| S&P BSE SENSEX 50 | 11,217.45 | +96.88 | +0.87 |
| S&P BSE SENSEX Next 50 | 34,121.57 | +261.63 | +0.77 |
| S&P BSE 100 | 11,092.14 | +94.14 | +0.86 |
| S&P BSE Bharat 22 Index | 3,599.08 | +52.10 | +1.47 |
(Source: BSE)
2:55 PM
BS SPECIAL Sebi order on extending derivative trading: Key takeaways and challenges
In a move aimed at attracting investors dealing in Indian products on foreign exchanges in Singapore and Dubai, the Securities and Exchange Board of India (Sebi) on Friday allowed domestic stock exchanges to extend equity derivatives trading until 11.55 pm. Deven Choksey, managing director of KR Choksey Investment Managers, looks at the Sebi order and explains the key takeaways. READ MORE
In a move aimed at attracting investors dealing in Indian products on foreign exchanges in Singapore and Dubai, the Securities and Exchange Board of India (Sebi) on Friday allowed domestic stock exchanges to extend equity derivatives trading until 11.55 pm. Deven Choksey, managing director of KR Choksey Investment Managers, looks at the Sebi order and explains the key takeaways. READ MORE
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First Published: May 07 2018 | 3:30 PM IST