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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 

Markets, Stocks, BSE, NSE, SENSEX
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Sun Pharma ends 6.55% up on NSE 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 Nifty sectoral performers BSE Sensex: Sun Pharma gains 6.42% during the day, Power Grid, TCS among top losers 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. 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  

Benchmark gained for a third straight session on Monday as a sharp drop in crude prices and a recovery in the boosted sentiment.

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

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, of Sun Pharmaceutical Industries saw their best day in over three years, up over 6% on strong fourth-quarter results.

The firmed up against the dollar on Monday to its strongest level in two weeks. of information technology companies fell, on worries that a stronger could hit returns from the US market

Tata Consultancy Services fell 2.5% while Tech Mahindra posted their biggest intraday drop since May 29, 2017.

GLOBAL MARKETS

Japan’s Nikkei gained 0.3 per cent in early trade, while South Korea’s Kospi rose 0.5 per cent, buoyed by which are seen as benefiting from a further thawing in tensions with Pyongyang. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat.

CRUDE OIL PRICES
 
extended losses on Monday as Saudi Arabia and Russia said they may increase supplies while US production gains show no signs of slowing.

Brent crude futures stood at $75.35 a barrel, down $1.09 from the previous close and after touching a three-week low of $74.49 earlier in the session.

(with Reuters inputs)

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 gained for a third straight session on Monday as a sharp drop in crude prices and a recovery in the boosted sentiment.

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

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, of Sun Pharmaceutical Industries saw their best day in over three years, up over 6% on strong fourth-quarter results.

The firmed up against the dollar on Monday to its strongest level in two weeks. of information technology companies fell, on worries that a stronger could hit returns from the US market

Tata Consultancy Services fell 2.5% while Tech Mahindra posted their biggest intraday drop since May 29, 2017.

GLOBAL MARKETS

Japan’s Nikkei gained 0.3 per cent in early trade, while South Korea’s Kospi rose 0.5 per cent, buoyed by which are seen as benefiting from a further thawing in tensions with Pyongyang. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat.

CRUDE OIL PRICES
 
extended losses on Monday as Saudi Arabia and Russia said they may increase supplies while US production gains show no signs of slowing.

Brent crude futures stood at $75.35 a barrel, down $1.09 from the previous close and after touching a three-week low of $74.49 earlier in the session.

(with Reuters inputs)

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