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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 

SMEs, banks, foreign exchange, markets, forex, small and medium price industries,
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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 Nifty sectoral losers of the day BSE Sensex: Infosys ends over 2% higher, Tata Steel declines 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. 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. 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

The and fell on Monday, dented by losses in energy, realty and healthcare stocks, with subdued Asian peers and rising inflation dampening sentiment further, while technology gained with Infosys hitting an all-time high on upbeat quarterly results.

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

Among sectoral indices, the Pharma index ended 4 per cent lower led by a fall in the of Dr. Reddy's Laboratories and Sun Pharmaceutical Industries. The Metal index too has fallen over 3.5 per cent lower led by fall in Jindal Stainless (Hisar) and Tata Steel.

Energy took a beating after crude prices dropped as concerns around supply disruptions eased, while traders eyed potential supply hikes by Russia and other oil producers. Reliance Industries slipped nearly 2% per cent, while Hindustan Petroleum Corp declined pver 2 per cent.

Among individual stocks, information technology (IT) major Infosys hit a new high of Rs 1,384 in intra-day, surging 6 per cent on the BSE, in an otherwise subdued market after the company reported an in-line performance for the first quarter ended 2018 (Q1FY19) and its board approved the issuance of one free share for every share held (that is a 1:1 bonus issue). The company announced its Q1FY19 results on Friday after the market hours. The stock ended nearly 2% higher
 
Economic Data

Inflation based on wholesale prices shot up to 5.77 per cent in on increasing prices of vegetables and fuel items. The Wholesale Price Index (WPI) based inflation stood at 4.43 per cent in May and 0.90 per cent in last year.

According to the government data released today, inflation in food articles stood at 1.80 per cent in June 2018, as against 1.60 per cent in the preceding month. Inflation in vegetables jumped to 8.12 per cent in June, from 2.51 per cent in the previous month.

Global Markets

Asian declined after official data showed China’s economy slowed slightly in the second quarter, compounded by fears of a full-scale Sino-US trade war looming over

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.43 per cent.

The Shanghai Composite Index and the blue-chip CSI300 index fell 0.5 per cent. Hong Kong's Hang Seng index was down less than 0.1 per cent and Seoul's Kospi lost 0.1 per cent. Japan's are closed for a holiday.
 
(with Reuters inputs)
 

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 and fell on Monday, dented by losses in energy, realty and healthcare stocks, with subdued Asian peers and rising inflation dampening sentiment further, while technology gained with Infosys hitting an all-time high on upbeat quarterly results.

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

Among sectoral indices, the Pharma index ended 4 per cent lower led by a fall in the of Dr. Reddy's Laboratories and Sun Pharmaceutical Industries. The Metal index too has fallen over 3.5 per cent lower led by fall in Jindal Stainless (Hisar) and Tata Steel.

Energy took a beating after crude prices dropped as concerns around supply disruptions eased, while traders eyed potential supply hikes by Russia and other oil producers. Reliance Industries slipped nearly 2% per cent, while Hindustan Petroleum Corp declined pver 2 per cent.

Among individual stocks, information technology (IT) major Infosys hit a new high of Rs 1,384 in intra-day, surging 6 per cent on the BSE, in an otherwise subdued market after the company reported an in-line performance for the first quarter ended 2018 (Q1FY19) and its board approved the issuance of one free share for every share held (that is a 1:1 bonus issue). The company announced its Q1FY19 results on Friday after the market hours. The stock ended nearly 2% higher
 
Economic Data

Inflation based on wholesale prices shot up to 5.77 per cent in on increasing prices of vegetables and fuel items. The Wholesale Price Index (WPI) based inflation stood at 4.43 per cent in May and 0.90 per cent in last year.

According to the government data released today, inflation in food articles stood at 1.80 per cent in June 2018, as against 1.60 per cent in the preceding month. Inflation in vegetables jumped to 8.12 per cent in June, from 2.51 per cent in the previous month.

Global Markets

Asian declined after official data showed China’s economy slowed slightly in the second quarter, compounded by fears of a full-scale Sino-US trade war looming over

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.43 per cent.

The Shanghai Composite Index and the blue-chip CSI300 index fell 0.5 per cent. Hong Kong's Hang Seng index was down less than 0.1 per cent and Seoul's Kospi lost 0.1 per cent. Japan's are closed for a holiday.
 
(with Reuters inputs)
 

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