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MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

The markets pared gains to turn flat on reports of Congress-JD(S) alliance in Karnataka

SI Reporter  |  New Delhi 

The markets pared gains to end in red after reports of Congress-JD(S) alliance in Karnataka. According to media reports, JD(S) has accepted Congress' proposal of making HD Kumaraswamy the state's chief minister. The S&P BSE Sensex ended at 35,544, down 13 points while the broader Nifty50 index settled at 10,802, down 5 points. Trends suggest Narendra Modi-led Bharatiya Janata party (BJP) is leading , but is still short of majority in Karnataka A high-stakes battle for the Karnataka Assembly ended on Saturday evening, with over 35 million voting in an election crucial ...

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MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

Market rundown by Vinod Nair, Head of Research, Geojit Financial Services    "Market has a good start led by positive impression of central ruling government in the Karnataka election. But lost its aura as lack of clear majority emerged by the end of the day. Whatsoever be the final outcome, this will give more depth to the market as concern over the performance of BJP in the next general election of 2019 will reduce. At the same time, market will try to focus back on macro & micro economic parameters which have been unpleasant in the recent time."

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

BSE Smallcap index slips 0.65%. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) UTTAM SUG.MILLS 66.10 74.40 -8.30 -11.16 AVADH SUGAR 313.00 349.50 -36.50 -10.44 PTC INDIA FIN 19.40 21.55 -2.15 -9.98 ADANI TRANSMISSI 143.00 158.45 -15.45 -9.75 S CHAND & COMPAN 337.85 370.65 -32.80 -8.85

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

BSE Midcap index ends 0.81% down. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) REL. COMM. 12.65 13.50 -0.85 -6.30 TATA GLOBAL 241.35 255.30 -13.95 -5.46 VAKRANGEE 60.05 63.20 -3.15 -4.98 GODREJ AGROVET 645.00 677.40 -32.40 -4.78 ORACLE FIN.SERV. 3910.10 4095.05 -184.95 -4.52

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

Nifty PSU Bank indec ends nearly 3% lower: Top losers in the pack COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME ALLAHABAD BANK 40.45 44.15 -3.70 -8.38 13123647 PUNJAB NATL.BANK 84.80 89.30 -4.50 -5.04 26336750 ORIENTAL BANK 81.65 84.65 -3.00 -3.54 4049130 UNION BANK (I) 85.25 88.05 -2.80 -3.18 7169694 CANARA BANK 241.70 249.35 -7.65 -3.07 10813295

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

Sectoral Trend

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

BSE Sensex gainers and losers of the day:

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

Market at close   The S&P BSE Sensex ended at 35,544, down 13 points while the broader Nifty50 index settled at 10,802, down 5 points.

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

Partywise Trend (Source: ECI)

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

India bonds hit near 33-month low, rupee weakest in 16 months on higher oil, inflation Indian bonds and the rupee currency weakened to multi-month lows in early trade on Tuesday, as global crude oil prices inched up and the local inflation print came in higher than expected.   The 10-year benchmark bond yield rose 7 basis points to 7.90 percent on Tuesday, its highest since Aug. 25 2015, while the Indian rupee fell to 67.76 against the dollar, its weakest since Jan. 31, 2017 from its previous close of 67.50. READ MORE

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

NPA provisioning to hit PNB results; to report loss of Rs 27 billion in Q4 Like many public-sector banks (PSBs) that have announced their March 2018 (Q4) results so far, Punjab National Bank (PNB) too is expected to report losses but of a higher magnitude. Besides higher slippages (loans turning bad) due to the Reserve Bank of India’s (RBI) new non-performing assets (NPAs or bad loans) rules and mark-to-market (MTM) provisioning for depreciation in value of government bonds due to higher yields, provisioning for the Rs 135 billion fraud reported in February is expected to have led to the poor performance in Q4. READ MORE

MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

Rupee at 16-month low: Rupee inches toward 68-mark, trades at 67.85 per dollar, weakest Since Jan 30, 2017

First Published: Tue, May 15 2018. 15:30 IST
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MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

The markets pared gains to turn flat on reports of Congress-JD(S) alliance in Karnataka

The markets pared gains to end in red after reports of Congress-JD(S) alliance in Karnataka. According to media reports, JD(S) has accepted Congress' proposal of making HD Kumaraswamy the state's chief minister. The S&P BSE Sensex ended at 35,544, down 13 points while the broader Nifty50 index settled at 10,802, down 5 points. Trends suggest Narendra Modi-led Bharatiya Janata party (BJP) is leading , but is still short of majority in Karnataka A high-stakes battle for the Karnataka Assembly ended on Saturday evening, with over 35 million voting in an election crucial ...

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