MARKETS ON WEDNESDAY: Indices end flat, Nifty holds 10,400; OMCs fall
All that happened in the markets on Wednesday
 "Markets, Up, Down, BSE, NSE, Stocks")
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Indian shares came off one-month highs to end flat on Wednesday, after a choppy session dragged by financials and oil marketing companies (OMCs).
Sentiment was also subdued on concerns that inflation worries could resurface on the back of rising crude oil prices. Brent crude futures surged more than 3 percent on Tuesday to their highest since late 2014, at $71.34 a barrel.
Investors await March retail inflation data due on Thursday for cues about the economy. Retail inflation likely eased to a five-month low in March as increases in food prices slowed once again but remained above the central bank’s medium-term target, a Reuters poll found.
Financials were the top losers with the Nifty PSU Bank index down over 2% after gaining more than 7% in the last four sessions.
OMCs slumped following reports that the government is asking these firms to absorb price hikes. Hindustan Petroleum Corp plunged over 7% intra-day, while both Bharat Petroleum Corp and Indian Oil Corp dropped over 5%.
Among global markets, Asian stocks rose modestly on Wednesday but pared early gains as caution again crept into markets over strained US-China trade ties and escalating tensions in Syria.
(with inputs from Reuters)3:56 PM
Nifty Metal rises 1.59%. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| VEDANTA | 296.80 | 284.10 | 12.70 | 4.47 |
| NATL. ALUMINIUM | 75.00 | 72.35 | 2.65 | 3.66 |
| JINDAL STAIN .HI | 177.70 | 172.15 | 5.55 | 3.22 |
| HIND.COPPER | 74.30 | 72.80 | 1.50 | 2.06 |
| HINDALCO INDS. | 234.20 | 230.00 | 4.20 | 1.83 |
3:51 PM
BSE Oil and Gas index slips 2.23%. Top losers:
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) |
| H P C L | 337.15 | 364.75 | -27.60 | -7.57 |
| B P C L | 417.50 | 450.95 | -33.45 | -7.42 |
| I O C L | 167.80 | 179.30 | -11.50 | -6.41 |
| GAIL (INDIA) | 326.75 | 331.95 | -5.20 | -1.57 |
| CASTROL INDIA | 206.50 | 208.00 | -1.50 | -0.72 |
3:36 PM
BSE Sensex: Top gainers and losers
3:33 PM
Market at close
The S&P BSE Sensex ended at 33,940, up 60 points while the broader Nifty50 index settled at 10,417, up 15 points.
3:27 PM
Dolly Khanna buys stake in Associates Alcohols in Q4; stock surges 12%
Associated Alcohols & Breweries hit a new high of Rs 340, up 12% on the BSE, after the breweries & distilleries company said that Chennai-based value investor Dolly Khanna bought stake in the company during March quarter. Dolly Khanna’s has purchased 187,279 equity shares representing 1.04% stake in Associated Alcohols & Breweries in January-March 2018 quarter, according to latest shareholding pattern filed by the company with the stock exchanges. READ MORE
3:14 PM
IRB Infra hits over 7-year high; stock surges 10%
IRB Infrastructure Developers hit an over seven-year high of Rs 281, up 10% on the BSE, recorded its sharpest single day gain since September 28, 2017, on back of heavy volumes. The stock of roads & highways company is trading at its highest level since August 24, 2010, when it touched a record high of Rs 313 during intra-day trade. READ MORE
3:01 PM
Stocks at 52-week high
| COMPANY | LATEST | 52 WK HIGH | PREV HIGH | PREV DATE | VOLUME |
|---|---|---|---|---|---|
| AARTI INDS. | 1214.00 | 1222.20 | 1212.00 | 14-MAR-2018 | 5623 |
| ASTRAL POLY | 951.10 | 967.20 | 949.00 | 01-MAR-2018 | 5303 |
| AVENUE SUPER. | 1478.00 | 1515.00 | 1494.80 | 10-APR-2018 | 124427 |
| BALKRISHNA INDS | 1287.15 | 1314.15 | 1296.45 | 10-APR-2018 | 40336 |
| DILIP BUILDCON | 1188.50 | 1217.00 | 1209.15 | 09-APR-2018 | 67785 |
2:45 PM
Rising oil prices, political developments to keep OMC stocks under check
Oil marketing companies (OMCs) -- Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) – lost up to 8% in trade on Wednesday after reports suggested that the government has asked these OMCs to absorb Rs 1 per litre oil price hike.
OMC stocks, analysts say, could remain under pressure for the next few months giving the outlook for crude oil prices, and especially ahead of the assembly elections scheduled all through calendar year 2018 (CY18) and the general election scheduled for May 2019. Given this backdrop, the government may not be willing to hike retail fuel prices given that oil is a politically sensitive subject. READ MORE
2:33 PM
Singapore Exchange to list Indian equity derivative products in June 2018
The Singapore Exchange on Wednesday said it would list Indian equity derivative products in June, nearly two months after India’s three main bourses announced they would stop licensing their indexes to overseas exchanges.
The announcement comes after the Singapore bourse said it would launch successor products to its flagship Indian equity index derivatives before the bourse’s license agreement with the National Stock Exchange of India expires in August 2018. READ MORE
2:15 PM
Hindustan Unilever hits new high;enters top-5 club of most valued companies
Hindustan Unilever (HUL), the fast moving consumer goods company (FMCG), entered into the list of the top-5 most valuable companies by market capitalisation (m-cap) as the stock price of the company hit a new high on Wednesday.
With an m-cap of Rs 3.06 trillion, HUL now features at fifth position in the list by replacing India’s largest mortgage financier, Housing Development Finance Corporation (HDFC) in this prestigious club. HDFC reported m-cap of Rs 3.03 trillion at 01:20 pm. HUL is now 6% away to surpass FMCG gait ITC, which have m-cap of Rs 3.24 trillion, the BSE data shows. READ MORE
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First Published: Apr 11 2018 | 3:32 PM IST