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MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Benchmark indices declined for a fourth straight session on Friday, amid caution over uncertainty over the formation of government in Karnataka,

Topics
Bse  |  Sensex  |  Nse

SI Reporter  |  New Delhi 

Benchmark indices declined for a fourth straight session on Friday, amid caution over uncertainty over the formation of government in Karnataka, developments in US-China trade negotiations and firm crude prices. In a major political development, the Supreme Court held a hearing in the Karnataka government formation matter, directing that the Bharatiya Janata Party (BJP) leader and the state's new chief minister, BS Yeddyurappa, must conduct the floor test on Saturday at 4 pm.  The S&P BSE Sensex ended at 34,848, down 301 points while the broader Nifty50 index settled ...

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MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Nifty PSU Bank index ends 1.65%. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) ALLAHABAD BANK 37.80 39.75 -1.95 -4.91 ORIENTAL BANK 75.40 78.85 -3.45 -4.38 IDBI BANK 60.45 62.55 -2.10 -3.36 SYNDICATE BANK 43.30 44.80 -1.50 -3.35 ANDHRA BANK 34.35 35.35 -1.00 -2.83

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Nifty sectoral gainers and losers

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

BSE Sensex: Top gainers and losers of the day

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Market at close   The S&P BSE Sensex ended at 34,848, down 301 points while the broader Nifty50 index settled at 10,605, down 78 points.

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Strides Shasun tanks 25% on weak Q4 results Shares of Strides Shasun have tanked 25% to Rs 378 per share, also their 52-week low on the BSE after the company reported a consolidated net loss of Rs 44 million in March 2018 quarter (Q4FY18). The pharmaceutical company reported its first quarterly loss since September 2014 quarter. It had posted a net profit of Rs 916 million in Q4FY17. Revenue from operations during the quarter under review declined 1.9% to Rs 6.64 billion from Rs 6.77 billion in the corresponding quarter of previous fiscal. READ MORE

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

EARNINGS IMPACT Bajaj Auto share price gained more than a percent after reporting better-than-expected earnings for the March quarter.   Profit for the quarter grew by 34.7% year-on-year to Rs 10.80 billion and revenue rose by 38.3% to Rs 67.73 billion.Operating profit jumped 45.2% to Rs 13.15 billion for the quarter and margin expanded 90 basis points to 19.4% compared to year-ago.

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

BUZZING STOCK Biocon gained 1% after the company sold close to 2% stake in its research arm Syngene International for an estimated Rs 230 crore.    "Biocon, the promoter of Syngene International, on May 16, 2018 has sold 37,65,574 equity shares amounting to 1.88% of the equity share capital of Syngene through open market sale," Biocon said in a regulatory filing.

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Funds will stick to duration norms, but may take credit risk   In the recent re-categorisation of schemes that fund houses have undertaken in response to the Securities and Exchange Board of India’s (Sebi’s) October circular, many debt and hybrid funds have been shuffled around. Investors need to understand the change that has happened in the funds they hold and only then decide whether to stay put or exit and move to another fund.   Among debt funds, a large number of categories, 16, have been created. In the very short-duration segment, only liquid funds existed earlier, which invested in papers with a maturity of up to 91 days. READ MORE

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Avenue Supermarts falls 8% as Radhakishan Damani plan to sale upto 1% stake   Avenue Supermarts, which operates the chain of D-Mart stores, dipped 8% to Rs 1,379 on the BSE in noon deal after the company said the promoter Radhakishan Shivkishan Damani propose to sell upto 1% stake in the company in the open market for achieving minimum public shareholding.   “Mr.Radhakishan Shivkishan Damani, one of our promoters has conveyed to us his intention to sell the equity shares of face value of Rs 10 each of the Company to enable us to comply with the requirements of minimum public shareholding,” Avenue Supermarts said in a BSE filing. READ MORE

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Ahead of IPO, Unit Trust of India moves to clear pension hurdle   Nearly 800 former employees of the erstwhile Unit Trust of India (UTI) might be a step closer to securing a resolution on a matter that has been hanging fire for more than 15 years.   In a meeting held recently, the board of directors at UTI MF, the country’s sixth-largest asset manager, discussed the long-pending demand for providing pension to its erstwhile employees who had opted for voluntary retirement in 2003, said two people familiar with the matter. READ MORE

MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Market Check S&P BSE Sensex 34,889.12 -0.74%   Nifty 50 10,615.20 -0.63%   S&P BSE 200 4,605.68 -0.83%   Nifty 500 9,231.90 -0.78%   S&P BSE Mid-Cap 15,943.44 -1.18%   S&P BSE Small-Cap 17,415.30 -1.12%

First Published: Fri, May 18 2018. 15:31 IST
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MARKETS ON FRIDAY: Indices decline for 4th session, Sensex down 301 pts

Benchmark indices declined for a fourth straight session on Friday, amid caution over uncertainty over the formation of government in Karnataka,

Benchmark indices declined for a fourth straight session on Friday, amid caution over uncertainty over the formation of government in Karnataka, developments in US-China trade negotiations and firm crude prices. In a major political development, the Supreme Court held a hearing in the Karnataka government formation matter, directing that the Bharatiya Janata Party (BJP) leader and the state's new chief minister, BS Yeddyurappa, must conduct the floor test on Saturday at 4 pm.  The S&P BSE Sensex ended at 34,848, down 301 points while the broader Nifty50 index settled ...

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