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.

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

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

2:00 PM

Market Check

S&P BSE Sensex	34,525.09		0.38%
Nifty 50	10,583.30		0.33%
S&P BSE 200	4,653.58		0.33%
Nifty 500	9,359.25		0.31%
S&P BSE Mid-Cap	16,835.98		0.33%
S&P BSE Small-Cap	18,182.31		0.28%

1:44 PM

Companies raise Rs 69 bn on BSE Bond platform under Sebi's new norm

Indian companies have raised Rs 69 billion by issuing bonds through private placement on BSE's electronic book mechanism since Sebi's new guidelines came into effect from April 1.

 

Under the new norms, Sebi has made electronic platform mandatory for all private placement issues on debt basis that have a threshold of Rs 2 billion, a move aimed at achieving better and transparent price discovery through the bidding process. READ MORE

1:29 PM

Pallid past, better future for paint firms; price hikes to support earnings

Consumer stocks, including paints, gained in Tuesday’s trade on account of India Meteorological Department’s (IMD) forecast of a normal monsoon. Stocks of the three major paint firms, Asian Paints, Berger Paints India and Kansai Nerolac Paints, were up 0.7-4 per cent on Tuesday.

 

Expectations of an uptick in demand owing to a revival in rural economy and a recovery from the aftermath demonetisation and the goods and services tax triggered the upmove. Demand in the March 2018 quarter (Q4) is projected to be muted because of seasonality factors. READ MORE

1:15 PM

Cryptocurrency by Cambridge Analytica? Controversial firm may raise $30 mn

Cambridge Analytica was planning to raise money by issuing a new type of digital currency before it became embroiled in a scandal surrounding the misuse of Facebook Inc personal data, sources familiar with the matter told Reuters on Tuesday. The British data analytics consultancy had approached a firm that advises companies on how to structure an initial coin offering, an increasingly popular online fundraising scheme involving the issue of a new digital currency, the sources said. READ MORE

1:02 PM

Stocks at 52-week high

COMPANY	PRICE()	52 WK HIGH	CHG()	CHG(%)
AARTI INDS.	1325.00	1327.45	36.90	2.86
DIVI'S LAB.	1179.80	1202.00	0.30	0.03
FIRSTSOUR.SOLU.	58.45	59.15	0.75	1.30
GODREJ CONSUMER	1129.35	1132.00	53.10	4.93
HEXAWARE TECH.	423.45	428.50	9.85	2.38