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MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

The Sensex and Nifty fell on Monday, dented by losses in energy, realty and healthcare stocks

SI Reporter  |  New Delhi 

The Sensex and Nifty fell on Monday, dented by losses in energy, realty and healthcare stocks, with subdued Asian peers and rising inflation dampening sentiment further, while technology stocks gained with Infosys hitting an all-time high on upbeat quarterly results. The S&P BSE Sensex ended at 36,324, down 218 points while the broader Nifty50 index settled at 10,937, down 82 points. Among sectoral indices, the Nifty Pharma index ended 4 per cent lower led by a fall in the shares of Dr. Reddy's Laboratories and Sun Pharmaceutical Industries. The Nifty Metal index ...

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MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

Nifty Pharma index ends 4.12% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) DR REDDY'S LABS 2091.10 2319.85 -228.75 -9.86 LUPIN 815.75 865.60 -49.85 -5.76 SUN PHARMA.INDS. 533.00 559.75 -26.75 -4.78 CADILA HEALTH. 349.75 366.10 -16.35 -4.47 AUROBINDO PHARMA 575.25 602.15 -26.90 -4.47 See More

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

Nifty sectoral losers of the day

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

BSE Sensex: Infosys ends over 2% higher, Tata Steel declines 7%

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

Market at close   The S&P BSE Sensex ended at 36,324, down 218 points while the broader Nifty50 index settled at 10,937, down 82 points.

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

Motilal Oswal Securities on Infosys   With the quarter largely in-line, our EPS estimates have changed little. Although it looks like INFO will achieve the lower end of its guidance in FY19, we continue to reckon the margin band is conservative, with the share of Digital inching up, recent rupee depreciation, and investments already defined internally. Our price target of Rs 1,550 discounts forward earnings by 17x, based on our thesis of a narrowing gap with TCS. We maintain Buy.

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

IFCI plans to offload 1.21 million shares in NSE, invites merchant bankers   Government-controlled development finance company IFCI Ltd has invited merchant bankers to help it offload stake in the National Stock Exchange (NSE).   The company is looking to sell 1.21 million of NSE shares (0.24 per cent stake). The deal is likely to be valued at Rs 1.05 billion to Rs 1.11 billion, based on the price-band of Rs 870-920 mentioned in the tender. READ MORE

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

BSE Midcap, Smallcap indices hit over 10-month low   Shares of mid and smallcap companies were under pressure with the S&P BSE Midcap and Smallcap index falling 2% each, hitting over 10-month low on the BSE in intra-day trade on Monday.   The S&P Midcap index touched a low of 15,097, its lowest level since August 23, 2017, while the S&P Smallcap index hit low of 15,832, its lowest level since August 30, 2017. READ MORE

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

Bharti Airtel hits 52-week low; stock falls 35% in thus far 2018   Shares of Bharti Airtel hit 52-week low of Rs 345, down 4% on the BSE, on concerns of weak earnings for the quarter ended June 2018 (Q1FY19).   The stock of telecom services provider was trading at its lowest level since May 10, 2017. Thus far in the calendar year 2018, Bharti Airtel underperforming the market by falling 35% as compared to 7.3% rise in the S&P BSE Sensex. READ MORE

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

LIC board gives nod to acquisition of up to 51% stake in IDBI Bank: Garg   Life Insurance Corporation of India's (LIC's) board has approved raising its stake in state-run IDBI Bank to 51 per cent, Economic Affairs Secretary Subhash Chandra Garg told reporters on Monday.   Garg, who is on the board of state-run LIC, said the additional stake buy would be most likely through a preferential shares issue, enabling injection of funds to IDBI Bank. READ MORE

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

Transfer of shares of listed firms must be in demat mode from Dec 5: Sebi   Transfer of shares of listed companies has to essentially be in dematerialised mode from December 5, according to markets regulator Sebi.   In a recent notification, the regulator announced the amendment to the LODR (Listing Obligations and Disclosure Requirements) Regulations pertaining to share transfer agent. READ MORE

MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

Market Check INDEX LATEST PREVIOUS CHANGE CHANGE(%) BSE SENSEX 36511.32 36541.63 -30.31 -0.08 BSE 500 14746.34 14826.58 -80.24 -0.54 BSE MID-CAP 15233.84 15431.47 -197.63 -1.28 BSE SMALL-CAP 15937.27 16196.33 -259.06 -1.60 S&P BSE LARGECAP 4251.47 4263.19 -11.72 -0.27

First Published: Mon, July 16 2018. 08:15 IST
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MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

The Sensex and Nifty fell on Monday, dented by losses in energy, realty and healthcare stocks

The Sensex and Nifty fell on Monday, dented by losses in energy, realty and healthcare stocks, with subdued Asian peers and rising inflation dampening sentiment further, while technology stocks gained with Infosys hitting an all-time high on upbeat quarterly results. The S&P BSE Sensex ended at 36,324, down 218 points while the broader Nifty50 index settled at 10,937, down 82 points. Among sectoral indices, the Nifty Pharma index ended 4 per cent lower led by a fall in the shares of Dr. Reddy's Laboratories and Sun Pharmaceutical Industries. The Nifty Metal index ...

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