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MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

Benchmark indices gained on Monday as a sharp drop in crude prices and a recovery in the rupee boosted sentiment

SI Reporter  |  New Delhi 

Benchmark indices gained for a third straight session on Monday as a sharp drop in crude prices and a recovery in the rupee boosted sentiment. The S&P BSE Sensex ended at 35,165, up 241 points while the broader Nifty50 index settled at 10,689, up 84 points Oil prices fell on Monday, extending even steeper declines from Friday, as Saudi Arabia and Russia said they may increase supplies and as US production gains showed no signs of abating. Among individual stocks, shares of Sun Pharmaceutical Industries saw their best day in over three years, up over 6% ...

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MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

Sun Pharma ends 6.55% up on NSE

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

Nifty IT index ends 1.92% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) TECH MAHINDRA 675.25 702.75 -27.50 -3.91 HCL TECHNOLOGIES 894.50 916.00 -21.50 -2.35 TCS 3502.05 3585.80 -83.75 -2.34 TATA ELXSI 1208.30 1232.70 -24.40 -1.98 MINDTREE 1011.45 1023.60 -12.15 -1.19

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

Nifty sectoral performers

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

BSE Sensex: Sun Pharma gains 6.42% during the day, Power Grid, TCS among top losers

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

Market at close   The S&P BSE Sensex ended at 35,165, up 241 points while the broader Nifty50 index settled at 10,689, up 84 points.

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

Nandan Denim, Lovable Lingerie fall over 10% on weak Q4 result Shares of Nandan Denim and Lovable Lingerie have plunged over 10% in otherwise strong market after these companies reported a weak set of numbers for the quarter ended March 2018 (Q4FY18). READ MORE  

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

EARNINGS NTPC Q4 profit jumps 46%, beats estimates   NTPC reported a 46% jump in fourth-quarter profit on Monday, marginally beating analysts’ estimates.   Profit after tax from continuing operations was Rs 26.26 billion ($389.59 million) in the three months ended March 31, compared with Rs 17.95 billion a year earlier, the state-controlled company said.

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

Fortis Healthcare gets approval from Hero-Burman to re-open bidding   Fortis Healthcare rose 1% on Monday after it said the consortium of Hero Enterprise Investment Office and Burman Family Office, which won a five-way bidding war for the Indian firm, has permitted re-opening the bidding process, amid shareholder concerns over the board’s choice of the underdog. READ MORE

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

PSBs extend rally; Nifty PSU bank surges 13% in six days Shares of public sector banks (PSBs) were trading higher for the sixth straight trading days with Nifty PSU Bank gaining more than 10% during the period on the back of expectations of an improvement in the asset quality going ahead. READ MORE  

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

So far so bad: Vedanta slid 25% this year, and then Thoothukudi hit A troubled 2018 so far for billionaire Anil Agarwal’s Vedanta Ltd. may get worse amid concern that its key copper smelter in southern India could remain shut until 2019, further pressuring a stock that’s down 25 percent since the start of the year. READ MORE

MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

Just Dial zooms over 50% in one week post stellar Q4 results Just Dial has rallied 23% to Rs 625, extending its past four day’s gain of over 20% on the BSE, after the company reported 53.6% year on year growth in its net profit at Rs 390 million in March 2018 quarter (Q4FY18). The operational revenue during the quarter under review grew 10% at Rs 2,005 million over the previous year quarter. READ MORE  

First Published: Mon, May 28 2018. 15:30 IST
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MARKET WRAP: Indices gain for 3rd straight session; IT stocks underperform

Benchmark indices gained on Monday as a sharp drop in crude prices and a recovery in the rupee boosted sentiment

Benchmark indices gained for a third straight session on Monday as a sharp drop in crude prices and a recovery in the rupee boosted sentiment. The S&P BSE Sensex ended at 35,165, up 241 points while the broader Nifty50 index settled at 10,689, up 84 points Oil prices fell on Monday, extending even steeper declines from Friday, as Saudi Arabia and Russia said they may increase supplies and as US production gains showed no signs of abating. Among individual stocks, shares of Sun Pharmaceutical Industries saw their best day in over three years, up over 6% ...

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