MARKET WRAP: Indices end flat ahead of July F&O expiry; SBI up over 1%
Among sectoral indices, the Nifty PSU Bank index ended 1% higher led by a rise in Canara Bank, Indian Bank and State Bank of India.
 "SMEs, banks, foreign exchange, markets, forex, small and medium price industries,")
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)
The benchmark indices ended flat on Wednesday.
The S&P BSE Sensex ended at 36,858, up 33 points. The index hit a fresh record intra-day of 36,947.18 earlier today. The broader Nifty50 index settled at 11,132, down 2 points. It touched an intra-day high of 11,157.15.
Among sectoral indices, the Nifty PSU Bank index ended 1% higher led by a rise in Canara Bank, Indian Bank and State Bank of India.
The S&P BSE Sensex ended at 36,858, up 33 points. The index hit a fresh record intra-day of 36,947.18 earlier today. The broader Nifty50 index settled at 11,132, down 2 points. It touched an intra-day high of 11,157.15.
Among sectoral indices, the Nifty PSU Bank index ended 1% higher led by a rise in Canara Bank, Indian Bank and State Bank of India.
RUPEE
GLOBAL MARKETS
The rupee recovered from its initial sluggishness to trade higher by 8 paise to 68.86 against the US dollar in late morning deals, following bouts of dollar selling from banks and exporters.
GLOBAL MARKETS
Asian stocks rose modestly on Wednesday, supported by upbeat Wall Street earnings and hopes China's government spending would boost growth but trade tensions remained in focus ahead of a meeting between the US and European Commission presidents.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 per cent. The Shanghai Composite Index was little changed after brushing a one-month high. Hong Kong's Hang Seng climbed 0.8 per cent. South Korea's KOSPI lost 0.4 per cent and Japan's Nikkei rose 0.4 per cent.
OIL PRICES
(with Reuters inputs)
OIL PRICES
Oil prices edged higher for a second day on Wednesday after data showed US crude inventories fell more than expected last week, easing worries about oversupply that have dragged on markets in recent sessions.
Brent crude was up 57 cents (0.8 per cent) at $74.01 a barrel. The global benchmark settled 38 cents higher on Tuesday. US West Texas Intermediate rose 27 cents (0.4 per cent) to $68.79, having risen nearly 1 per cent in the previous session.
(with Reuters inputs)
3:51 PM
Nifty PSU Bank ends 1.38% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| CANARA BANK | 258.95 | 252.80 | 6.15 | 2.43 |
| INDIAN BANK | 331.90 | 325.05 | 6.85 | 2.11 |
| ST BK OF INDIA | 271.85 | 266.85 | 5.00 | 1.87 |
| UNION BANK (I) | 81.85 | 81.25 | 0.60 | 0.74 |
| BANK OF INDIA | 88.00 | 87.85 | 0.15 | 0.17 |
3:47 PM
Nifty sectoral gainers and losers of the day
3:45 PM
BSE Sensex: SBI, Tata Steel, Vedanta among top gainers
3:31 PM
Market at close
The S&P BSE Sensex ended at 36,858, up 33 points while the broader Nifty50 index settled at 11,132, down 2 points.
3:15 PM
Info Edge (India) rallies 10% post Q1 results; stock hits new high
Info Edge (India) has moved higher to its record high of Rs 1,492, rising 10% and extending its 8% rally on the BSE in the past two days, after the company reported a standalone net profit of Rs 630 million in June quarter (Q1FY19). The profit included Rs 160 million relating to the diminution in the carrying value of Canvera. The company posted profit of Rs 642 million in year ago quarter. READ MORE
3:06 PM
INDEX WATCH
> More on BSE Indices
| INDEX | LATEST | PREVIOUS | CHANGE | CHANGE(%) |
| BSE SENSEX | 36889.88 | 36825.10 | 64.78 | 0.18 |
| BSE 500 | 15013.35 | 14994.47 | 18.88 | 0.13 |
| BSE MID-CAP | 15663.27 | 15664.48 | -1.21 | -0.01 |
| BSE SMALL-CAP | 16268.65 | 16218.54 | 50.11 | 0.31 |
| S&P BSE LARGECAP | 4319.25 | 4313.92 | 5.33 | 0.12 |
2:53 PM
IPO WATCH HDFC AMC IPO opens for subscription today. Should you invest?
The initial public offer (IPO) of HDFC Asset Management Company (AMC) opens today for subscription. The issue, which remains open till July 27, comprises of up to 25457555 equity shares of face value of Rs 5 each. The price band for the offer is fixed at Rs 1,095 - 1,100 per share. Bids can be made for a minimum lot of 13 equity shares and in multiples of 13 equity shares thereafter. HDFC AMC aims to raise Rs 27.87 billion at the lower end of this price band and Rs 28 billion at the higher end READ MORE
2:50 PM
EARNINGS ALERT Bhel Q1 net up 93% to Rs 1.55 bn, chairman stresses prudent strategies
Power equipment maker BHEL on Wednesday posted about 93 per cent jump in standalone net profit to Rs 1.55 billion in the first quarter of the current financial year on higher revenues. Its net profit was Rs 808.2 million in the April-June quarter of last financial year, 2017-18, the company said in BSE filing READ MORE
2:49 PM
Reliance Securities on Alkem Labs
We expect ALKEM’s domestic formulations biz (71% of sales) to clock 14% CAGR through FY18-20E driven by increasing focus on Chronic/OTC segments and new launches in the key therapeutic segments. The company generates over 85% of its total EBITDA margin from domestic business.
We expect EBITDA to clock 24% CAGR (EBITDA margin expansion by 320bps to 19%) through FY18-20E driven by better product-mix and improved field force productivity and positive operating leverage. We expect stock to command premium over its peers owing to healthy return ratios (RoCE at 20% and RoE at 18.0% by FY20E) and higher exposure to India business. Recommend BUY with a target price of Rs 2,360
We expect EBITDA to clock 24% CAGR (EBITDA margin expansion by 320bps to 19%) through FY18-20E driven by better product-mix and improved field force productivity and positive operating leverage. We expect stock to command premium over its peers owing to healthy return ratios (RoCE at 20% and RoE at 18.0% by FY20E) and higher exposure to India business. Recommend BUY with a target price of Rs 2,360
2:30 PM
Gold prices inched higher on Wednesday as the dollar held steady ahead of a meeting between the U.S. and European Commission presidents to discuss trade-related issues.
Gold prices edge up ahead of US-EU trade talks
Gold prices inched higher on Wednesday as the dollar held steady ahead of a meeting between the U.S. and European Commission presidents to discuss trade-related issues.
Spot gold was up 0.2 per cent at $1,226.19 an ounce. US gold futures for August delivery were 0.1 per cent higher at $1,226.20 an ounce. READ MORE
Gold
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First Published: Jul 25 2018 | 8:15 AM IST