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MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

Benchmark indices hit a near three-month high on Monday, as technology shares gained.

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SI Reporter  |  New Delhi 

Benchmark indices hit a near three-month high on Monday, in tandem with global markets, as technology shares gained during the day. The S&P BSE Sensex ended at 35,160, up 191 points while the broader Nifty50 index settled at 10,739, up 47 points. IT stocks rose, with the Nifty IT index gaining as much as 1.5% aided by the recent weakness in the rupee. Gains were, however, capped as index heavyweight Reliance Industries fell as much as much as 3.5%, its biggest percentage loss since February 2, after result from the oil-to-retail conglomerate’s telecoms ...

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MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

RIL ends 3.29% down on the NSE

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

Nifty IT index rises 1.39%. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) KPIT TECH. 258.60 247.85 10.75 4.34 TATA ELXSI 1237.80 1198.65 39.15 3.27 MINDTREE 1084.60 1050.70 33.90 3.23 TCS 3532.10 3451.95 80.15 2.32 INFOSYS 1199.50 1185.20 14.30 1.21

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

Sectoral performers

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

BSE Sensex: Yes Bank, HUL among top gainers of the day, Axis Bank top loser

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

Market at close   The S&P BSE Sensex ended at 35,160, up 191 points while the broader Nifty50 index settled at 10,739, up 47 points.

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

Gold falls Rs 120 on weak global cues, low demand Gold prices fell by Rs 120 to Rs 32,200 per 10 gram at the bullion market today, tracking a weak trend overseas and muted demand from local jewellers.   Silver also dropped by Rs 150 to Rs 40,300 per kg due to reduced offtake by industrial units and coin makers. READ MORE

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

Buy Interglobe Aviation only on a correction, say analysts Interglobe Aviation, the parent company of IndiGo, lost ground in trade after a steady start. The stock hit a high of Rs 1,443 on the NSE before slipping to around 1,400 levels in intraday trade. By comparison, the Nifty50 index gained 0.6 per cent to 10,754 levels.   The weakness in the stock, analysts say, is a knee-jerk reaction to the news of its president, Aditya Ghosh, unexpectedly quitting on Friday. They believe the slide mostly factors in the development and stability – at last from a short-term perspective – should return once a successor is named CLICK HERE FOR MORE

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

Buy Interglobe Aviation only on a correction, say analysts Interglobe Aviation, the parent company of IndiGo, lost ground in trade after a steady start. The stock hit a high of Rs 1,443 on the NSE before slipping to around 1,400 levels in intraday trade. By comparison, the Nifty50 index gained 0.6 per cent to 10,754 levels.   The weakness in the stock, analysts say, is a knee-jerk reaction to the news of its president, Aditya Ghosh, unexpectedly quitting on Friday. They believe the slide mostly factors in the development and stability – at last from a short-term perspective – should return once a successor is named. Surprisingly the stock, as if anticipating the move, had lost over 6 per cent in trade ahead of the announcement on Friday. READ MORE

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

Crude Update Oil prices dipped after a rising rig count in the United States pointed to higher production there, but markets held near their highest in over three years and remained set for a second straight month of gains.   Oil prices were supported by supply concerns amid prospects that the United States could reimpose sanctions on Iran, while OPEC-led producers continue to withhold output.   Brent crude futures, the international benchmark, dipped 1.33 per cent, to $73.65 a barrel. Prices climbed as high as $75.47 last week, levels not seen since November, 2014.

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

UBS ON REAL ESTATE SECTOR Reports suggest that new Mumbai development plan 2034 has been approved, allowing for horizontal and vertical growth of developable area in Mumbai. Potential developable area caps for commercial real estate have been almost doubled (linked proportional to the road width) and for residential has been increased by ~10- 20%. Developers/landowners would benefit from increase in developable value of their lands (providing some support to sluggish land prices), however availability of more potential supply could imply that property price appreciation over long term would be lower than earlier expected especially in areas where land has been opened up for development. With property affordability at 15 year best levels, new regulations increasing customer confidence and favourable government policies, we think property volumes should recover over medium term and more for organised developers as they would gain share aided by new regulations

MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

MARKET COMMENT Ajay Bodke CEO & Chief Portfolio Manager PMS, Prabhudas Lilladher The just concluded historic summit between the Presidents of two Koreas has rekindled global hopes of a lasting détente.  If a clearly agreed path between the two sides leads to a signing of an armistice and eventual denuclearization of the Korean peninsula, it has the potential to fuel heightened risk appetite and will be positive for risk assets.   Japanese Yen (JYP) in particular would be one of the biggest beneficiaries to reap this ‘Peace Dividend’. During times of heightened geo-political & security tensions global investors tend to rush to buy safe-haven assets like JPY creating headwinds for an export-dependent economy like Japan  

First Published: Mon, April 30 2018. 15:30 IST
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MARKETS ON MONDAY: Nifty ends above 10,700, IT stocks gain, RIL down 3%

Benchmark indices hit a near three-month high on Monday, as technology shares gained.

Benchmark indices hit a near three-month high on Monday, in tandem with global markets, as technology shares gained during the day. The S&P BSE Sensex ended at 35,160, up 191 points while the broader Nifty50 index settled at 10,739, up 47 points. IT stocks rose, with the Nifty IT index gaining as much as 1.5% aided by the recent weakness in the rupee. Gains were, however, capped as index heavyweight Reliance Industries fell as much as much as 3.5%, its biggest percentage loss since February 2, after result from the oil-to-retail conglomerate’s telecoms ...

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