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MARKET WRAP: Global cues, K'taka result drag Sensex 156 pts; PNB down 12%

Benchmark indices fell on Wednesday on doubts over the composition of the next government in Karnataka

SI Reporter  |  New Delhi 

MARKET COMMENT Jayant Manglik, President, Religare Broking The Indian equity benchmark indices ended Wednesday’s session on a weak note, led by muted global cues and weak domestic sentiments. The Nifty index fell by 61 points or 0.6% to close at 10,741. The broader markets outperformed, with BSE Smallcap reporting marginal gains. The sectoral indices ended on a mix note. Realty, FMCG & IT ended the session with healthy gains, while Oil & Gas & Banks were the top losers. Amongst the global markets, most of the Asian indices ended lower, while European markets were trading flat to marginally in the green.   With lack of any fresh positive triggers globally and on the domestic bourses, we expect the markets to consolidate in the near term. Corporate earnings, global developments, behaviour of crude oil prices and movement of INR vs USD will dictate the market trend in the coming sessions. Stock specific volatility will remain high. Investors should continue to focus on quality stocks on dips Nifty PSU Bank index ends 3.05% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) SYNDICATE BANK 43.95 50.20 -6.25 -12.45 PUNJAB NATL.BANK 75.60 85.95 -10.35 -12.04 BANK OF BARODA 132.05 139.65 -7.60 -5.44 ALLAHABAD BANK 38.95 40.35 -1.40 -3.47 ORIENTAL BANK 78.90 81.70 -2.80 -3.43 Nifty FMCG index gains nearly 2%: Top gainers in the pack COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME HIND. UNILEVER 1574.10 1515.50 58.60 3.87 2420398 P & G HYGIENE 9396.55 9131.20 265.35 2.91 7029 JUBILANT FOOD. 2457.25 2400.45 56.80 2.37 812235 COLGATE-PALM. 1178.20 1151.50 26.70 2.32 981591 MARICO 318.20 312.35 5.85 1.87 3139526 PNB falls 12% on poor Q4 results Sectoral Trend BSE Sensex: gainers and losers of the day

Benchmark indices fell on Wednesday as doubts over the composition of the next government in Karnataka dampened investor risk appetite. However, recovery in rupee and fall in crude oil prices help cut losses. The S&P BSE Sensex ended at 35,388, down 156 points while the broader Nifty50 index settled at 10,741, down 61 points. Among sectoral indices, shares of public sector banks (PSBs) were under pressure, falling upto 12% on NSE after most these banks reported weak set of numbers for the quarter ended March 2018 (Q4FY18). Punjab National Bank (PNB) fell 12% after the state-owned ...

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First Published: Wed, May 16 2018. 15:30 IST
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MARKET WRAP: Global cues, K'taka result drag Sensex 156 pts; PNB down 12%

Benchmark indices fell on Wednesday on doubts over the composition of the next government in Karnataka

Benchmark indices fell on Wednesday as doubts over the composition of the next government in Karnataka dampened investor risk appetite. However, recovery in rupee and fall in crude oil prices help cut losses. The S&P BSE Sensex ended at 35,388, down 156 points while the broader Nifty50 index settled at 10,741, down 61 points. Among sectoral indices, shares of public sector banks (PSBs) were under pressure, falling upto 12% on NSE after most these banks reported weak set of numbers for the quarter ended March 2018 (Q4FY18). Punjab National Bank (PNB) fell 12% after the state-owned ...

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