MARKETS ON TUESDAY: Indices end flat, Nifty holds 10700; ICICI Bank up 6.6%
Benchmark indices ended flat on Tuesday taking mixed cues from the Asian counterparts
 "Photo: Shutterstock.com")
Photo: Shutterstock.com
Benchmark indices ended flat on Tuesday, tracking their Asian counterparts.
(with Reuters inputs)
The S&P BSE Sensex ended the day at 35,216 up 8 points while the broader Nifty50 index settled at 10,718 , up 2 points
Meanwhile, stock-specific actions continued on Tuesday as we are in the middle of March 2018 quarter earnings season.
Among individual stocks, ICICI Bank rose 7 per cent and was the biggest gainer on the broader NSE index. Brokerages have retained their ‘buy’ rating on the stock citing a significant decline in the “drilldown” list of potential troubled loans. The bank’s net profit almost halved to Rs 10.20 billion for the quarter ended March 31.
Among individual stocks, ICICI Bank rose 7 per cent and was the biggest gainer on the broader NSE index. Brokerages have retained their ‘buy’ rating on the stock citing a significant decline in the “drilldown” list of potential troubled loans. The bank’s net profit almost halved to Rs 10.20 billion for the quarter ended March 31.
ASIAN MARKETS & OIL
Globally, oil prices eased slightly on Tuesday, a day after hitting 3-1/2 year highs, as investors braced for President Donald Trump’s decision on whether to withdraw the United States from the Iran nuclear deal, a move that could disrupt global oil supply.
Globally, oil prices eased slightly on Tuesday, a day after hitting 3-1/2 year highs, as investors braced for President Donald Trump’s decision on whether to withdraw the United States from the Iran nuclear deal, a move that could disrupt global oil supply.
While caution on Trump’s statement kept investors edgy in early trade, technology firms helped to generate gains for Asian equities.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.6 per cent, with information technology shares rising 1.3 per cent. Japan’s Nikkei was 0.2 per cent higher.
(with Reuters inputs)
4:23 PM
Market rundown by Vinod Nair, Head of Research, Geojit Financial Services
"Market turned volatile as investors’ are concerned on the movement of rupee and surge in oil price which could eventually lead to tight monetary policy. Albeit, banks outperformed as sentiment improved on account of early recognition of stressed assets. Continued outflow of foreign money will keep rupee on tenterhook while increasing GST collection and RBIs open market operation may soften the volatility. "
3:39 PM
Nifty Bank index up nearly 1%: Top gainers from the pack
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) | VOLUME |
|---|---|---|---|---|---|
| ICICI BANK | 308.50 | 289.80 | 18.70 | 6.45 | 87171264 |
| FEDERAL BANK | 103.70 | 101.20 | 2.50 | 2.47 | 15399268 |
| ST BK OF INDIA | 250.30 | 246.50 | 3.80 | 1.54 | 23278419 |
| BANK OF BARODA | 145.50 | 143.55 | 1.95 | 1.36 | 15825358 |
| AXIS BANK | 543.15 | 536.10 | 7.05 | 1.32 |
12027147 |
3:37 PM
ICICI Bank top gainer post Q4 results
3:36 PM
Sectoral Trend
3:35 PM
Top Sensex gainers and losers
3:32 PM
Markets at Close
The S&P BSE Sensex ended the day at 35,216 up 8 points while the broader Nifty50 index settled at 10,718 , up 2 points
The S&P BSE Sensex ended the day at 35,216 up 8 points while the broader Nifty50 index settled at 10,718 , up 2 points
3:15 PM
India's April gold imports plunge 39 per cent on weak demand: GFMS
India's gold imports fell for a fourth straight month in April from a year ago to 57 tonnes on subdued demand after local prices jumped to the highest level in nearly 21 months, provisional data from precious metals consultancy GFMS and bank dealers showed.
The drop in purchases by India, though, could weigh on global prices, which are still up nearly 6 percent from a mid-December trough, despite dropping back from a 17-month high hit at the end of January. READ MORE
Global gold jewellery demand was 685.6 tonnes during the September quarter
3:00 PM
Jubilant FoodWorks hits new high on good Q4 results; 1:1 bonus
Shares of Jubilant FoodWorks hit new high of Rs 2,668 per share, up 2% on the BSE, bouncing back 5% from their intra-day low after the company reported more than 10-fold jump in net profit at Rs 681 million in March 2018 quarter (Q4FY18). It had profit of Rs 67 million in a year ago quarter.
Revenue from operations during the quarter under review grew 27% year on year (y-o-y) at Rs 7,798 million against Rs 6,128 million in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, tax, depreciation and amortization) margin improved 650 bps to 16.4% in Q4FY18 from 9.9% in Q4FY17. READ MORE
2:46 PM
Investors pricing in Modi win in 2019; oil, rupee among key concerns: UBS
Investors have priced in a “Modi win in 2019” as the base case and expect India’s economic growth to gain momentum in financial year 2018 – 19 (FY19), albeit with widening macro stability risks (inflation, current account deficit and fiscal deficit), suggests a recent report by UBS.
The report, authored by Tanvee Gupta Jain, UBS’ economist, also highlights the key near-term risks investors are concerned about. Investors, it says, have also questioned the trends in household savings and the local flows in the backdrop of demonetisation. READ MORE
2:32 PM
Buffett slams bitcoin as thriving on mystique, favours US stocks over cypto
Billionaire investor Warren Buffett on Monday said buyers of bitcoin, which he has characterized as "rat poison squared," thrive on the hope they'll find other people who will pay more for it.
Likening bitcoin demand to the tulip bulb mania in 17th century Holland, Buffett, the chairman and chief executive of Berkshire Hathaway Inc, said the mystique behind the cryptocurrency has caused its price to surge. READ MORE
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First Published: May 08 2018 | 3:30 PM IST