MARKETS ON WEDNESDAY: Indices end flat; IT, metal stocks among top losers
Benchmark indices ended flat Wednesday after a choppy session dragged by losses in the metal and IT indices.
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Benchmark indices ended flat Wednesday after a choppy session dragged by losses in the metal and IT indices.
The S&P BSE Sensex ended at 35,176, up 16 points while the broader Nifty50 index settled at 10,718, down 21 points
The S&P BSE Sensex ended at 35,176, up 16 points while the broader Nifty50 index settled at 10,718, down 21 points
Sentiment across the globe was muted as investors await the US Federal Reserve’s policy decision later in the global day for cues on the future pace of US monetary tightening.
The Fed is seen set to hold interest rates steady but will likely encourage expectations that it will lift borrowing costs in June on the back of rising inflation and low unemployment.
Back home, shares of HCL Technologies dipped 4.5% to Rs 1,005 per share on the BSE after the IT company posted a 9.9 percent fall in its fourth-quarter net profit earlier today, hurt by higher expenses.
InterGlobe Aviation, the parent company of IndiGo, will also announce their quarterly results today. Markets will look for the company's future plans after the recent exit of its president, Aditya Ghosh.
GLOBAL MARKETS
GLOBAL MARKETS
Asian equities eased on Wednesday, while the dollar traded near a four-month high as investors count down to the US Federal Reserve’s upcoming policy statement for clues on the future pace of US monetary tightening.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent, while Japan’s Nikkei shed 0.2 per cent.
(with Reuters inputs)
(with Reuters inputs)
4:00 PM
Market rundown by Anand James, Chief Market Strategist, Geojit Financial Services
"The sustained stretch of upsides prevailing all through April has begun to weigh on investors, and PSU and metal saw profit booking, especially with global markets seen shaky ahead of FOMC rate deicison. FII’s continued selling since mid April has emerged as a point of contention but positive factory growth numbers, strong auto sales, upbeat GST revenue collection will seek to extend the ongoing momentum aided by positive earnings season."
3:40 PM
Top draggers from Nifty IT pack
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) | VOLUME |
|---|---|---|---|---|---|
| HCL TECHNOLOGIES | 1005.35 | 1052.75 | -47.40 | -4.50 | 7506238 |
| MINDTREE | 1057.00 | 1084.60 | -27.60 | -2.54 | 1793235 |
| ORACLE FIN.SERV. | 4207.65 | 4310.10 | -102.45 | -2.38 | 26798 |
| KPIT TECH. | 253.15 | 258.60 | -5.45 | -2.11 | 1188805 |
| TATA ELXSI | 1216.70 | 1237.80 | -21.10 | -1.70 | 548914 |
3:38 PM
Nifty Metal index falls over 3%: Top losers in the pack
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) | VOLUME |
|---|---|---|---|---|---|
| S A I L | 72.95 | 77.65 | -4.70 | -6.05 | 14022263 |
| JINDAL STEEL | 237.80 | 252.10 | -14.30 | -5.67 | 6073671 |
| HIND.ZINC | 308.55 | 326.85 | -18.30 | -5.60 | 3606390 |
| VEDANTA | 283.45 | 298.40 | -14.95 | -5.01 | 12024307 |
| MOIL | 197.30 | 205.25 | -7.95 | -3.87 | 538682 |
3:35 PM
Sectoral Trend
3:34 PM
Top Sensex gainers and losers
3:32 PM
Markets at Close
The S&P BSE Sensex ended at 35,176, up 16 points while the broader Nifty50 index settled at 10,718, down 21 points
The S&P BSE Sensex ended at 35,176, up 16 points while the broader Nifty50 index settled at 10,718, down 21 points
3:10 PM
Gold falls on global cues, slack demand
Gold prices drifted lower by Rs 70 to Rs 32,130 per 10 grams at the bullion market today, driven by a weak trend overseas amid easing demand from local jewellers. Silver also fell by Rs 250 to Rs 40,250 per kg due to reduced offtake by industrial units and coin makers. READ MORE
2:48 PM
Buyback proposal fails to lift PC Jeweller; stock tanks 23% from day's high
Shares of PC Jeweller have dipped 18% to Rs 119 per share falling 23% from its intra-day high on the BSE, despite the company announcing a share buyback proposal. The stock was up 6% to Rs 154 in early morning trade.
PC Jeweller on Sunday, April 29, said that the board of directors of the company will meet on Friday, May 5, 2018 to consider the proposal for buy back of fully paid-up equity shares of the company.
The board will also consider the audited standalone and consolidated financial results of the company for the quarter/financial year ended March 31, 2018 and recommendation of dividend, if any. READ MORE
2:34 PM
Analysts see Rs 140-billion L&T-Schneider deal in positive light
Larsen & Toubro’s (L&T) definitive agreement with Schneider to sell its electrical and automation (E&A) business in an all-cash deal for Rs 140 billion (slightly more than $2 billion) is on expected lines of analysts. Santosh Yellappu, analyst at India Nivesh, says, the deal valuations are fair and the company is pursuing its objective of becoming asset-light.
Earlier Credit Suisse, too, had anticipated the electrical business’ value at ₹140-160 billion. READ MORE
2:21 PM
Nifty Metal index falls over 3%, top losers in the pack
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) | VOLUME |
|---|---|---|---|---|---|
| S A I L | 73.45 | 77.65 | -4.20 | -5.41 | 10672711 |
| HIND.ZINC | 311.00 | 326.85 | -15.85 | -4.85 | 2588117 |
| VEDANTA | 284.45 | 298.40 | -13.95 | -4.67 | 9347162 |
| JINDAL STEEL | 242.10 | 252.10 | -10.00 | -3.97 | 4225737 |
| MOIL | 198.20 | 205.25 | -7.05 | -3.43 | 459200 |
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First Published: May 02 2018 | 3:31 PM IST