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Nifty ends March F&O expiry at 10,113, up a little over 10% in FY18

All that happened in the market today

Image SI Reporter New Delhi
Markets, Stocks, BSE, NSE, Trade

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Benchmark indices slipped on Wednesday, as investors booked profit on the last trading day for financial year 2017-18 (FY18) that co-incided with the expiry of F&O contracts for the March 2018 series. That apart, weak global cues also weighed on the overall sentiment. 

The S&P BSE Sensex ended at 32,968, down 206 points while the broader Nifty50 index settled at 10,113, down 71 points. The indices posted a monthly loss of about 3.5 per cent, their steepest drop for the month of March since 2015. For FY18, the Nifty50 index gained around 10%.

"We expect the Indian equities to remain range bound in the coming sessions. Domestic macro data and global developments will dictate the further course of the market in the near term. In the coming week with the release of volume data for March, Auto stocks would remain in focus. Valuations at current levels are not cheap and India continues to trade at a premium to the other emerging markets. Hence, for this premium to sustain, continued reform implementation and revival in the corporate earnings is essential," said Jayant Manglik, President, Religare Broking.

Among sectoral indices, the Nifty Metal index closed 2.1% lower, led by a drop in shares of Tata Steel, SAIL and Jindal Steel & Power. The Nifty PSU bank index also fell over 2%.

"We expect the similar kind of returns from equity markets during the next fiscal too but with increased volatility due to large political events. While risk of higher yield may continue to persist in year ahead, we believe a healthy double digit growth in corporate earnings will aid markets to sustain high valuations," said Rakesh Tarway, Reserch Head at Reliance Securities in an emailed note.

Adding: "We do not find any solid reason for domestic savings to divert to other investment avenues and therefore benign domestic flow to equities is likely to support equity markets. Factors to watch during FY19 are hardening of USA Fed rates and movement of crude oil prices. Hardening of rates by USA Fed may impact flow of global liquidity to emerging markets."

TRUNCATED WEEK

Markets will remain closed on Thurday and Friday on account of Mahavir Jayanti and Good Friday, respectively. The bourses will now open on Monday, April 02. With effect from April 1, long-term capital gains— profits made on the sale of equity shares held for over 12 months—will be taxed at the rate of 10%.

GLOBAL MARKETS

Stocks toppled again on Wednesday, as jitters about a US-China trade war and regulatory crackdown on firms such as Facebook left investors facing their first quarterly fall in equity markets in two years.

Europe’s main bourses opened more than 1% weaker as the fifth sell-off in six days gathered momentum and sent risk-averse traders piling back to the safety of bond markets.

German bunds, seen as Europe’s most secure asset due to Berlin’s triple-A-rated finances, rallied hard to send 10-year yields back under 0.5% for the first time since early January.

(with Agency inputs)
3:59 PM

MARKET COMMENT Madan Sabnavis, chief economist at CARE Ratings

The Indian economy has displayed varying signs this year and while the general direction is towards a possible recovery in 2018-19, the issue of overhang of NPA resolution would be a fundamental factor affecting future growth as investment would require finance which will emanate mainly from banks. The focus next year will be on ensuring that the process of solution is on the right track.
3:46 PM

Nifty Metal index declines 2.09%. Top losers:

COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME
JINDAL STEEL 219.10 229.75 -10.65 -4.64 9495220
S A I L 70.20 73.20 -3.00 -4.10 10421653
JSW STEEL 288.15 298.85 -10.70 -3.58 5121150
TATA STEEL 571.05 590.00 -18.95 -3.21 18642014
VEDANTA 277.85 287.00 -9.15 -3.19 14697397

3:44 PM

Nifty PSU Bank index ends 2.13% lower. Top losers:

COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME
IDBI BANK 72.20 76.25 -4.05 -5.31 43260112
PUNJAB NATL.BANK 95.30 99.45 -4.15 -4.17 30081563
ORIENTAL BANK 91.60 94.45 -2.85 -3.02 4417827
SYNDICATE BANK 55.45 56.85 -1.40 -2.46 4885414
INDIAN BANK 299.80 306.70 -6.90 -2.25 1198361

3:41 PM

Sectoral Trend

3:35 PM

BSE Sensex gainers and losers of the day

3:32 PM

Market at close
 
The S&P BSE Sensex ended at 32,968, down 206 points while the broader Nifty50 index settled at 10,113, down 71 points.
3:22 PM

Disappointed stock market bulls find comfort in India profit revival

In India, it’s becoming a ritual. Each year investors are assured that earnings are about to recover. Each year, they don’t. Anything that suggested that might change would be welcome news to stock bulls, who’ve watched last year’s rally hit a wall. Now there’s evidence it may, though you have to look pretty hard to see it. READ MORE

3:13 PM

Eight of 10 worst-performing US emerging-market ETFs are focused on India

Eight of this year’s 10 worst-performing U. S. emerging-market non-leveraged ETFs are focused on India. The biggest exchange-traded fund, BlackRock’s $5.2 billion iShares MSCI India ETF, lost more than 5 percent -- the least impressive start since its inception in 2012. READ MORE

2:55 PM

Stocks that hit 52-week low on BSE500

COMPANY LATEST 52 WEEK LOW PREVIOUS LOW PREVIOUS DATE
BALRAMPUR CHINI 76.65 76.35 79.90 12-MAR-2018
BLUE DART EXP. 3775.00 3754.50 3770.00 27-MAR-2018
CARE RATINGS 1210.00 1207.70 1211.10 23-MAR-2018
CUMMINS INDIA 699.40 670.95 696.00 26-MAR-2018
DHANUKA AGRITECH 542.05 536.55 538.00 27-MAR-2018

2:43 PM

Eight of 10 worst-performing US emerging-market ETFs are focused on India

Eight of this year’s 10 worst-performing U. S. emerging-market non-leveraged ETFs are focused on India. The biggest exchange-traded fund, BlackRock’s $5.2 billion iShares MSCI India ETF, lost more than 5 percent -- the least impressive start since its inception in 2012. READ MORE HERE
2:36 PM

Jefferies on Eicher
Rating  BUY (from   HOLD)
Price Target Rs 31,880.00 (from Rs 31,271.00)
 
Eicher is in a transition phase with the waiting period going away for the first time in years. Reported growth is normalizing as it starts reflecting current demand vs. pent up demand. The stock has de-rated/underperformed over the last six months as a result. However, with underlying industry growth surprising positively and strong growth in low penetration states, which now account for 30% of sales, we expect the transition to be smoother
2:29 PM

Titan, D-Mart, Venky's among 24 stocks that gain over 100% in FY18
 
The consumer discretionary goods & services sector companies such as Avenue Supermarts (owner of D-Mart), Jubilant FoodWorks, Venkys’ India, Titan Company, Avanti Feeds, Radico Khaitan and V-Mart Retail were among 24 stocks from the S&P BSE 500 index become mutli-baggers and rallied over 100% during the financial year 2017-18 (FY18).
 
HEG and Graphite India from graphite electrode manufacturers, Himadri Speciality Chemical, NOCIL and Philips Carbon Black from chemicals and Dilip Buildcon, Sunteck Realty and Indiabulls Real Estate from infrastructure too surged up to 1300% in FY18. On comparison, the S&P BSE Sensex and the S&P BSE 500 were up 12% during the fiscal. READ MORE
2:17 PM

Volume Toppers

COMPANY PRICE() CHG() CHG(%) VOLUME
GUJARAT GAS 831.85 -4.40 -0.53 14442897
FORTIS HEALTH. 128.65 -13.80 -9.69 10522372
JP ASSOCIATES 19.15 0.05 0.26 8147987
IDBI BANK 74.15 -2.10 -2.75 6394054
REL. COMM. 22.25 -1.50 -6.32 5508072

1:59 PM

IDBI Bank discloses fraud of $119 million, shares fall

IDBI Bank Ltd said on Tuesday fraudulent loans of 7.72 billion rupees ($118.8 million) were issued from five of its branches in Andhra Pradesh and Telangana, sending its shares lower on Wednesday. READ MORE
1:46 PM

New $100 million limit to give NSE the edge in currency derivatives

The Securities and Exchange Board of India (Sebi's) decision to raise the limit for currency derivatives to $100 million from the earlier $45 million is likely to boost the currency derivatives market and give the National Stock Exchange of India (NSE) an edge in the segment.
 
Earlier, trading in currency derivatives had a limit of $15 million per exchange per client. This enabled trades to be spread across exchanges. The limit has now been raised to $100 million without any specified limit for each of these exchanges. READ MORE

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First Published: Mar 28 2018 | 3:31 PM IST

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