MARKETS ON WEDNESDAY: Indices snap 9 sessions of gains; banking stocks drag
Benchmark indices ended flat on Wednesday, snapping 9 session of gains, as investors remained cautious on quarterly results.
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Benchmark indices ended in red on Wednesday, snapping 9 session of gains, as investors remained cautious on quarterly results, dragged mainly by banking and financial stocks.
The S&P BSE Sensex ended at 34,332, down 63 points while the broader Nifty50 index settled at 10,526, down 23 points.
Among sectoral indices, Nifty PSU Bank fell nearly1% on fall in almost all stocks. Bank of Baroda, Indian Bank, Andhra Bank, OBC, Syndicate Bank, Union Bank, IDBI Bank and SBI declined up to 4%.
In the global markets, Asian shares crept ahead on Wednesday after Wall Street took heart from upbeat corporate earnings, though nagging concerns about trade barriers and the global growth outlook kept currencies and bonds subdued.
The S&P BSE Sensex ended at 34,332, down 63 points while the broader Nifty50 index settled at 10,526, down 23 points.
Among sectoral indices, Nifty PSU Bank fell nearly1% on fall in almost all stocks. Bank of Baroda, Indian Bank, Andhra Bank, OBC, Syndicate Bank, Union Bank, IDBI Bank and SBI declined up to 4%.
In the global markets, Asian shares crept ahead on Wednesday after Wall Street took heart from upbeat corporate earnings, though nagging concerns about trade barriers and the global growth outlook kept currencies and bonds subdued.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 per cent in early trade, though that follows four straight sessions of losses.
Japan's Nikkei added 0.6 per cent, with investors waiting for any developments on trade as Japanese Prime Minister Shinzo Abe meets President Donald Trump at his Mar-a-Lago resort.
(with Reuters inputs)
(with Reuters inputs)
3:43 PM
Nifty PSU Bank index ends 1.10% lower. Top losers:
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) |
| BANK OF BARODA | 141.65 | 147.85 | -6.20 | -4.19 |
| INDIAN BANK | 306.75 | 318.95 | -12.20 | -3.83 |
| ANDHRA BANK | 42.05 | 43.00 | -0.95 | -2.21 |
| IDBI BANK | 69.95 | 71.05 | -1.10 | -1.55 |
| ORIENTAL BANK | 94.60 | 95.85 | -1.25 | -1.30 |
3:39 PM
Nifty FMCG index ends 1.74% up. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| GODREJ CONSUMER | 1134.30 | 1076.40 | 57.90 | 5.38 |
| DABUR INDIA | 356.20 | 343.75 | 12.45 | 3.62 |
| GODREJ INDS. | 595.00 | 577.60 | 17.40 | 3.01 |
| ITC | 275.45 | 267.60 | 7.85 | 2.93 |
| TATA GLOBAL | 285.45 | 280.95 | 4.50 | 1.60 |
3:36 PM
Sectoral performers
3:34 PM
BSE Sensex: ITC, Wipro among top gainers, Axi Bank top loser
3:31 PM
Market at close
The S&P BSE Sensex ended at 34,332, down 63 points while the broader Nifty50 index settled at 10,526, down 23 points.
3:21 PM
Global stocks climbed to their highest in nearly four weeks on Wednesday as strong US first-quarter earnings helped revive risk appetite, driving up equities and hauling the dollar out of its slump.
European stocks rose in early trading, pushing MSCI's index of world stocks up 0.2 per cent to its highest since March 22. The top index of euro zone stocks rose 0.4 per cent to its highest since Feb. 5, when a spike in volatility amplified a sell-off in global equity markets. READ MORE
World stocks at four-week highs as earnings rekindle risk appetite
Global stocks climbed to their highest in nearly four weeks on Wednesday as strong US first-quarter earnings helped revive risk appetite, driving up equities and hauling the dollar out of its slump.
European stocks rose in early trading, pushing MSCI's index of world stocks up 0.2 per cent to its highest since March 22. The top index of euro zone stocks rose 0.4 per cent to its highest since Feb. 5, when a spike in volatility amplified a sell-off in global equity markets. READ MORE
3:00 PM
Gold rises on Akshaya Tritiya buying
Gold prices went up by Rs 30 to Rs 32,380 per ten grams at the bullion market today largely due to token buying by jewellers on the auspicious occasion of 'Akshaya Tritiya', but a subdued trend overseas capped the gains.
Silver strengthened by Rs 150 at Rs 40,450 per kg largely in step with gold.
Traders said, besides token purchases by consumers on the auspicious occasion of 'Akshaya Tritiya', depreciating rupee against the dollar helped gold prices to trade higher. READ MORE
2:50 PM
Hindustan Zinc plans to produce 1,000 tonnes of silver in next 3-4 years
Hindustan Zinc (HZL), India’s largest zinc and silver producer, is planning to increase production of silver from 556 tonnes in 2017-18 to 1,000 tonnes in the next 3-4 years.
On Tuesday, the company announced its silver refinery had been recognised by the London Bullion Market Association (LBMA) as its approved refinery on Monday, making it the only Indian private sector company achieving this status in India. READ MORE
2:35 PM
BSE FMCG index hits new high; Godrej Consumer, Dabur, ITC up over 3%
Shares of fast moving consumer goods (FMCG) companies were in focus with the S&P BSE Index up more than 2% hitting a new high on the BSE.
The FMCG index hit record high of 11,085 in intra-day trade surpassed its previous high of 11,047 recorded on February 1, 2018. READ MORE
2:18 PM
Fortis Healthcare suitors' list gets longer with Fosun's $350-million offer
Adding to the list of bidders for Fortis Healthcare, Fosun Health Holdings Ltd (FHHL), a wholly-owned subsidiary of the Hong Kong Stock Exchange-listed Fosun International, on Tuesday made a proposal for primary infusion at Rs 156 a share, up to a total investment of $350 million (Rs 22.75 billion), including a preliminary investment of Rs 1 billion. The unsolicited non-binding offer, however, is subject to due diligence, to be completed within three weeks. This will enable Fosun to own a 25 per cent or more stake in Fortis. READ MORE
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First Published: Apr 18 2018 | 3:30 PM IST