MARKETS ON FRIDAY: Sensex ends flat, Nifty holds 10,300; PSU banks gain
All that happened in the markets on Friday
 "Markets, Stocks, BSE, NSE, SENSEX")
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Benchmark indices ended flat on Friday, as investors remained cautious after sentiment soured on renewed fears of a trade war after US President Donald Trump proposed more tariffs on China.
The S&P BSE Sensex ended at 33,627, up 30 points while the broader Nifty50 index settled at 10,331, up 6 points.
Trump said on Thursday that he had directed US trade officials to identify tariffs on $100 billion worth additional Chinese imports, escalating the dispute between the world’s two largest economies.
Asia shares ex-Japan slipped 0.13 per cent, while US stock futures fell more than 1 per cent. Global markets have been volatile this week amid the back-and-forth of the US-China trade conflict.
Back home, the Reserve Bank of India (RBI) on Thursday adopted a remarkably dovish tone, surprising analysts who were expecting the firming up of rates in the medium term, even as one of the six members in the Monetary Policy Committee (MPC) voted for a hike in an otherwise status quo policy.
After the first bi-monthly monetary policy for 2018-19, the repo rate remained at 6 per cent. RBI Executive Director Michael Patra voted for a 25 basis points hike, but other five members, including RBI Governor Urjit Patel favoured a pause.
The central bank lowered its inflation projection sharply from previous forecasts, but flagged risks on the upside on the revised numbers. The RBI expects retail inflation in March at 4.5 per cent, down from 5.1 per cent it projected in February.
(with wire inputs)
3:45 PM
Nifty PSU Bank ends 0.90% up. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| PUNJAB NATL.BANK | 102.15 | 97.00 | 5.15 | 5.31 |
| ALLAHABAD BANK | 53.50 | 51.70 | 1.80 | 3.48 |
| ANDHRA BANK | 45.40 | 44.20 | 1.20 | 2.71 |
| ORIENTAL BANK | 98.90 | 97.05 | 1.85 | 1.91 |
| BANK OF INDIA | 113.10 | 111.10 | 2.00 | 1.80 |
3:40 PM
Nifty Pharma ends 1.35% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| PIRAMAL ENTERP. | 2663.90 | 2540.40 | 123.50 | 4.86 |
| AUROBINDO PHARMA | 619.40 | 599.15 | 20.25 | 3.38 |
| LUPIN | 809.05 | 786.70 | 22.35 | 2.84 |
| GLENMARK PHARMA. | 563.60 | 556.55 | 7.05 | 1.27 |
| SUN PHARMA.INDS. | 512.60 | 507.55 | 5.05 | 0.99 |
3:34 PM
BSE Sensex gainers and losers of the day
3:32 PM
Market at close
The S&P BSE Sensex ended at 33,627, up 30 points while the broader Nifty50 index settled at 10,331, up 6 points.
3:23 PM
News Watch RCom gets tribunal nod for tower, fibre business sale
Reliance Communications Ltd (RCom) said on Friday it received the National Company Law Appellate Tribunal's (NCLAT) approval to proceed with the sale of its tower and fibre business. READ MORE
Impact on stock:
Reliance Communications Ltd (RCom) said on Friday it received the National Company Law Appellate Tribunal's (NCLAT) approval to proceed with the sale of its tower and fibre business. READ MORE
Impact on stock:
3:01 PM
Gold prices hit over two-week lows on Friday, ahead of the US payrolls data later in the day, weighed down by a firmer dollar even as President Donald Trump re-ignited trade war fears by proposing $100 billion in new tariffs on China. READ MORE
Gold hits over two-week low as dollar firms ahead of US jobs data
Gold prices hit over two-week lows on Friday, ahead of the US payrolls data later in the day, weighed down by a firmer dollar even as President Donald Trump re-ignited trade war fears by proposing $100 billion in new tariffs on China. READ MORE
2:46 PM
PSU Bank extends gain; PNB, Allahabad Bank up 3%
Shares of public sector bank were in focus for the second straight day with Nifty PSU Bank index nearly 1%, extending its Thursday’s 5% surge, after the Reserve Bank of India (RBI) maintained status quo on the key short-term borrowing rate in its first bi-monthly monetary policy for the financial year 2018-19 (FY19) on Thursday.
Punjab National Bank (PNB), Allahabad Bank, Oriental Bank of Commerce, Bank of Baroda, Union Bank of India, Bank of India and Canara Bank were up in the range of 1% to 4% on the National Stock Exchange (NSE). READ MORE
2:30 PM
Crude update
Oil prices fell after US President Donald Trump's threat of new tariffs on China reignited fears of a trade war between the world's two biggest economies.
President Trump said on Thursday he had ordered US trade officials to consider tariffs on USD 100 billion more of imports from China, escalating tensions with Beijing.
Brent crude for June delivery was down 0.5 per cent, at $67.99 per barrel while US West Texas Intermediate crude for May delivery was down 0.5 per cent, at $63.22 a barrel.
2:18 PM
Earnings
Samsung Electronics Co. reported higher-than-projected profit as demand for its memory chips remained strong enough to outweigh concerns about display supplies to Apple Inc.
Operating income rose to 15.6 trillion won ($14.7 billion) in the three months ended March, according to preliminary results released Friday from the Suwon, South Korea-based company. That compares with the 14.5 trillion-won average of analysts’ estimates compiled by Bloomberg. READ MORE
2:01 PM
Market Check
| S&P BSE Sensex | 33,550.62 | -0.14% | |
| Nifty 50 | 10,301.45 | -0.23% | |
| S&P BSE 200 | 4,537.33 | -0.02% | |
| Nifty 500 | 9,137.35 | -0.10% | |
| S&P BSE Mid-Cap | 16,516.36 | 0.16% | |
| S&P BSE Small-Cap | 17,820.61 | 0.26% | |
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First Published: Apr 06 2018 | 3:30 PM IST