MARKETS ON TUESDAY: Sensex, Nifty end marginally higher; realty stocks gain
The domestic indices ended higher on Tuesday, led by gains in FMCG and realty indices.
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Photo: Shutterstock.com
The domestic indices ended marginally higher on Tuesday, led by gains in FMCG and realty indices.
The S&P BSE Sensex ended at 34,395, up 90 points while the broader Nifty50 index settled at 10,549, up 20 points.
Among sectoral indices, the Nifty Realty index was over 1% higher led by a rise in the shares of Godrej Properties and Indiabulls Real Estate.
That apart, investor sentiments were positive during the day following the forecast of a normal monsoon this year by the India Meteorological Department (IMD).
Releasing its first forecast for the southwest monsoon, the IMD said rainfall in June-September was projected at 97 per cent of the long period average (LPA), with a model error of plus and minus 5 per cent. If monsoon rains lift farm output, it can boost demand for consumer goods as it raises incomes of rural people.
Asia stocks rose modestly on Tuesday following data showing China's economy grew a little faster than expected in the first quarter.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.05 per cent. South Korea's KOSPI dipped 0.1 per cent and Hong Kong's Hang Seng gained 0.15 per cent. Shanghai rose 0.15 per cent and Japan's Nikkei was flat.
(with Reuters inputs)
The S&P BSE Sensex ended at 34,395, up 90 points while the broader Nifty50 index settled at 10,549, up 20 points.
Among sectoral indices, the Nifty Realty index was over 1% higher led by a rise in the shares of Godrej Properties and Indiabulls Real Estate.
That apart, investor sentiments were positive during the day following the forecast of a normal monsoon this year by the India Meteorological Department (IMD).
Releasing its first forecast for the southwest monsoon, the IMD said rainfall in June-September was projected at 97 per cent of the long period average (LPA), with a model error of plus and minus 5 per cent. If monsoon rains lift farm output, it can boost demand for consumer goods as it raises incomes of rural people.
Asia stocks rose modestly on Tuesday following data showing China's economy grew a little faster than expected in the first quarter.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.05 per cent. South Korea's KOSPI dipped 0.1 per cent and Hong Kong's Hang Seng gained 0.15 per cent. Shanghai rose 0.15 per cent and Japan's Nikkei was flat.
(with Reuters inputs)
3:43 PM
Nifty Realty Index ends 1.19% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| GODREJ PROPERT. | 764.20 | 725.60 | 38.60 | 5.32 |
| PHOENIX MILLS | 585.80 | 573.50 | 12.30 | 2.14 |
| INDBULL.REALEST. | 194.75 | 191.75 | 3.00 | 1.56 |
| DLF | 216.90 | 214.50 | 2.40 | 1.12 |
3:39 PM
Sectoral Trend
3:37 PM
BSE Sensex: gainers and losers of the day
3:33 PM
Market at close
The S&P BSE Sensex ended at 34,395, up 90 points while the broader Nifty50 index settled at 10,549, up 20 points.
3:32 PM
Stock Quote:
Nifty Highlights MRF hits new high touches Rs 80,000
Stock Quote:
3:15 PM
Hotel stocks rally; Taj GVK, Royal Orchid, EIH zoom over 15%
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3:00 PM
Steel Strips Wheels hits record high on repeat export order
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“The company bagged yet another big exports order for supply of steel wheels for EU Caravan market. Order comprises of approx. 41,000 steel wheels to be shipped from the company’s Chennai plant from next month onwards,” SSWL said in a regulatory filing. READ MORE
2:45 PM
FMCG stocks in focus: HUL, Britannia, Nestle India hit new highs
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Thus far in the month of April, all these four stocks have outperformed the market by gaining in the range of 8% to 9% on the BSE. On comparison, the S&P BSE Sensex and S&P BSE FMCG index were up 4% and 5%, respectively. READ MORE
2:30 PM
Favourable monsoon forecast may have limited impact on markets: here's why
The S&P BSE Sensex has given average returns of 29.75 per cent during below-normal rainfall years – those in which rainfall is at least 10 per cent short of the long-period average (LPA), according to the India Meteorological Department.
The Sensex was up 13.08 per cent in 2004, when rainfall fell 13 per cent of the LPA. It rebounded 81.03 per cent in 2009 after the global financial crises, when rainfall fell short by 22 per cent. It again rose 29.89 per cent in 2014, when rains fell short by 12 per cent. The only exception was 2015, when the index fell 5.03 per cent, even as rainfall fell 14 per cent short. READ MORE
Monsoon. (Photo: Shutterstock)
2:17 PM
Banking sector preview Q4FY18: HDFC and IndusInd banks remain top picks
Banking stocks had a roller coaster ride over the last few months. Cases of fraud have changed the way banking sector was looked at. While the fraud related cases are restricted to a few banks as of now, the fear that more issues could come up has made investors looking at the true book value of banks in a more prudent way. The biggest question is, what is the true book value of banks adjusting for all the stressed assets?
While the sector was already struggling with the above issues the rising bond created further trouble. However, the regulators’ last move of allowing banks to amortize MTM losses on bonds over four quarters brings in some relief. The move could leave banks with relatively higher income which could be used for providing bad assets that might come up during the quarter. While this comes as a near-term relief the bond yields in India is unlikely to soften further in the coming months. READ MORE
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First Published: Apr 17 2018 | 3:30 PM IST