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MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Benchmark indices edged lower on Friday as losses in financials offset gains in auto stock

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Bse  |  Sensex  |  Nse

SI Reporter  |  New Delhi 

Benchmark indices edged lower on Friday as losses in financials offset gains in auto stocks, with investor focus shifting to the monsoons.  The S&P BSE Sensex ended at 35,227, down 95 points while the broader Nifty50 index settled at 10,696, down 40 points. Among sectoral indices, the Nifty Bank index ended over 1% lower led by a fall in the shares of IndusInd Bank and Federal Bank. Meanwhile, government data showed on Thursday that Indian economy grew 7.7% year-on-year in January-March, its quickest pace in nearly two years driven by higher growth ...

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MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Nifty Bank index ends 0.98% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) FEDERAL BANK 83.00 84.80 -1.80 -2.12 INDUSIND BANK 1915.40 1955.45 -40.05 -2.05 AXIS BANK 536.65 545.90 -9.25 -1.69 RBL BANK 507.55 515.90 -8.35 -1.62 HDFC BANK 2110.60 2139.45 -28.85 -1.35

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Nifty sectoral losers of the day

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

BSE Sensex: Bajaj Auto, Maruti Suzuki among top gainers of the day, ONGC top loser

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Market at close   The S&P BSE Sensex ended at 35,227, down 95 points while the broader Nifty50 index settled at 10,696, down 40 points.

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Gold steady amid renewed trade tensions Gold prices were steady in Asian trade on Friday on renewed fears of a global trade war, while a firm dollar and positive US economic data weighed on the market.   Spot gold was nearly unchanged at $1,298.29 per ounce, while U.S. gold futures for June delivery were down 0.2 percent at $1,298 per ounce. Spot gold is down slightly this week. READ MOER Gold

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Move over dollar, next rally in EM currencies: Top investment manager The dollar’s run is ending, and it’s time to return to emerging market currencies after their two-month slump, according to AMP Capital Investors Ltd.   The advance in Treasury yields across the curve will probably stall from here, while US-China trade tensions will turn from being dollar positive to negative, said Nader Naeimi, who runs AMP’s $1.2 billion Dynamic Markets Fund and has begun shorting the greenback. READ MORE

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

COMPANY NEWS Adani Power Mundra likely to approach NCLT for bankruptcy protection   Adani Power Mundra, a subsidiary of Adani Power, is likely to approach the National Company Law Tribunal (NCLT) for bankruptcy protection. This comes after its lenders stepped back from stake-sale negotiations with Gujarat Urja Vikas Nigam (GUVNL), the state power distribution company. READ MORE

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Sun TV falls Sun TV Network fell for fifth straight session, down 3.9% at Rs 881.85, on the NSE. Sun TV Network jumped 5.69% in last one year as compared to a 10.94% rally in Nifty and a 1.48% spurt in the Nifty Media index.

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Asia Check   Asian equities recovered from early weakness on Friday as a lower yen supported Japanese stocks and firm exports boosted South Korean markets. Still, rekindled concerns about US trade policies limited regional gains.   MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1% but the index was still down roughly 0.6% for the week.   However, regional sentiment recovered somewhat with South Korea's KOSPI rising 0.7% on upbeat export data and Japan's Nikkei advancing 0.2% off the back of yen weakness against the dollar.

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Market Check S&P BSE Sensex 35,291.54 -0.09%   Nifty 50 10,705.60 -0.28%   S&P BSE 200 4,637.91 -0.35%   Nifty 500 9,262.15 -0.57%   S&P BSE Mid-Cap 15,859.36 -0.96%   S&P BSE Small-Cap 17,017.07 -1.35%

MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

It may be too late to invest in this sparkling equity market; here's why Most of Asia’s stock markets fell in May -- New Zealand was one of the rare exceptions. That could mean the future won’t be as bright.   Shrugging off trade tensions and Italy turmoil, the S&P/NZX 50 Index just posted its best month of the year and the biggest gain among regional gauges. As of Thursday’s close, it was on track to become one of the world’s best-performing developed equity markets for 2018. READ MORE

First Published: Fri, June 01 2018. 15:30 IST
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MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall

Benchmark indices edged lower on Friday as losses in financials offset gains in auto stock

Benchmark indices edged lower on Friday as losses in financials offset gains in auto stocks, with investor focus shifting to the monsoons.  The S&P BSE Sensex ended at 35,227, down 95 points while the broader Nifty50 index settled at 10,696, down 40 points. Among sectoral indices, the Nifty Bank index ended over 1% lower led by a fall in the shares of IndusInd Bank and Federal Bank. Meanwhile, government data showed on Thursday that Indian economy grew 7.7% year-on-year in January-March, its quickest pace in nearly two years driven by higher growth ...

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