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Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

All that happened in the market today

SI Reporter  |  New Delhi 

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 ...

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Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

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

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

BSE Smallcap: Bhushan Steel, Mangalam Drugs & Organics top gainers of the day, Dalmia Sugars top loser

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

BSE Midcap: Vakrangee, Reliance Infra top gainers of the day, IDBI top loser

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

Nifty PSU Bank index ends 2.8% higher

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

Sectoral Trend

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

BSE Sensex gainers and losers

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

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.

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

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.

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

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

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

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

Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

Nomura on Bharti Airtel In the backdrop of an 11-15% ARPU cut in bestselling bucket tariff plans in January, the regulator’s ruling on predatory tariffs, and the 10% revenue market share of exiting operators still up for grabs, we think that the risk of further tariff cuts over the next few quarters has increased, implying a weaker near-term earnings outlook for Bharti.  At 7.4x FY20F EV/EBITDA, the stock is not cheap vs its regional peers. That said, it does not appear to be an outlier, especially in the context of the sector’s improved earnings growth outlook and industry structure from FY20F onwards. Our revised 12-month rounded target price for Bharti of Rs 505 is the sum of the attributable share of our fair value for Bharti Infratel (Rs 82), attributable DCF value of the DTH biz (Rs 31) and DCF value of the remaining businesses (Rs 393)

First Published: Thu, March 08 2018. 15:31 IST
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Indices snap 6-session losing streak, Sensex rises 318 points; banks lead

All that happened in the market today

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 ...

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