Indices snap 6-session losing streak, Sensex rises 318 points; banks lead
All that happened in the market today
 "Markets, Indian stock markets")
Markets, Indian stock markets
Benchmark indices ended higher on Thursday after six sessions of losses, as Asian equities rose on hopes that US President Donald Trump’s plan to introduce hefty tariffs on steel and aluminium imports could exclude certain key partner countries.
Asian shares outside Japan rose sharply as fears of a global trade war eased after White House signalled that the proposed hefty US tariffs on steel and aluminium imports could exclude Canada, Mexico and a clutch of other countries.
Among sectoral indices, the Nifty PSU Bank index rose over 2% higher today lead by a rise in shares of State Bank of India, Bank of Baroda and Syndicate Bank.
Shares of telecom service providers rose by up to 5% on the Bombay Stock Exchange (BSE) in intra-day deals but later ended flat for the day. The government, on Wednesday, cleared a relief package for the debt-ridden sector, giving more time to operators to pay for the spectrum bought in auctions.
The government has cleared the much-awaited relief measures for the debt-ridden telecom sector, providing operators the option of paying their spectrum instalments in a longer time frame and easing the spectrum holding limits.
(with inputs from Reuters)
4:05 PM
MARKET COMMENT Mustafa Nadeem, CEO, Epic Research
Nifty has its important support of 200 - day simple moving average (SMA) at 10140, which provided a short-term relief to market to bounce back and see some short covering. Though this may be validated in next few days if the market also sustains the 200-day SMA. On the upside, we expect this short-term rally to continue till 10300 - 10350 on the Nifty, where it may face selling pressure again
Nifty has its important support of 200 - day simple moving average (SMA) at 10140, which provided a short-term relief to market to bounce back and see some short covering. Though this may be validated in next few days if the market also sustains the 200-day SMA. On the upside, we expect this short-term rally to continue till 10300 - 10350 on the Nifty, where it may face selling pressure again
3:44 PM
BSE Smallcap: Bhushan Steel, Mangalam Drugs & Organics top gainers of the day, Dalmia Sugars top loser
3:41 PM
BSE Midcap: Vakrangee, Reliance Infra top gainers of the day, IDBI top loser
3:39 PM
Nifty PSU Bank index ends 2.8% higher
3:37 PM
Sectoral Trend
3:35 PM
BSE Sensex gainers and losers
3:33 PM
Market at close
The S&P BSE Sensex ended at 33,352, up 318 points while the broader Nifty50 index settled at 10,243, up 88 points.
3:17 PM
Centrum on Praj Industries
Given the 9MFY18 financial performance (revenue up ~5% and net profit down 41%), we anticipate FY18E numbers to be weak. On the back of mature valuations and slow ordering activity impacting the company’s growth, we maintain our Neutral rating. We would continue to monitor Praj for any improvement in order book leading to better future growth visibility.
Given the 9MFY18 financial performance (revenue up ~5% and net profit down 41%), we anticipate FY18E numbers to be weak. On the back of mature valuations and slow ordering activity impacting the company’s growth, we maintain our Neutral rating. We would continue to monitor Praj for any improvement in order book leading to better future growth visibility.
3:16 PM
BEML falls 18% in three days after clarification on stake sale report
BEML hit a 52-week low of Rs 1,112, down 7% on the BSE in intra-day trade, extending its past two days decline, after the company said it is not aware of government in principle approval to sell 26% stake in the company.
In past three trading sessions, the stock dipped 18% from Rs 1,362 on Monday, as compared to unchanged in the S&P BSE Sensex. READ MORE
3:09 PM
Who gains most from govt's spectrum cap decision?
The Narendra Modi-led central government on Wednesday decided to relax the cap on the amount of spectrum individual telecom service providers can hold and extended the payments tenure. The move will help ease the telecom sectors cash flow woes and aid the process of ongoing consolidation efforts.
Amid the pricing war in the sector, driven mainly by Reliance Jio’s disruptive run so far, the telecom market has shrunk from 15 players in 2011-12 to just four now – Telenor and Tata Teleservices have merged with Bharti Airtel, Reliance Communications is selling its assets to Reliance Jio, and Idea and Vodafone merging to unite forces. READ MORE
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First Published: Mar 08 2018 | 3:31 PM IST