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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

Topics
Bse  |  Sensex  |  Nse

SI Reporter  |  New Delhi 

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

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

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

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

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

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

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

PNB falls 12% on poor Q4 results

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

Sectoral Trend

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

BSE Sensex: gainers and losers of the day

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

Market at close   The S&P BSE Sensex ended at 35,388, down 156 points while the broader Nifty50 index settled at 10,741, down 61 points.

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

Jyothy Laboratories gains 7% as board approves 1:1 bonus issue Shares of Jyothy Laboratories have moved higher by 7% to Rs 398 per share on the BSE after the company said the board has recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus share for every one share held on the record date. READ MORE  

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

RCom's insolvency jeopardises $3.7 bn deal   Shares and bonds of Reliance Communications Ltd. tumbled after an Indian tribunal ordered that the wireless carrier be placed in insolvency proceedings, jeopardizing its proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd.   The Mumbai bench of the National Company Law Tribunal on Tuesday accepted a petition from the Indian unit of network-equipment maker Ericsson AB, which is seeking to recover 11.6 billion rupees ($170 million) in unpaid dues from the telco controlled by billionaire Anil Ambani. READ MORE

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

Rupee bounces back from 15-month low of 68.11 a dollar on RBI intervention   The rupee recovered smartly on Wednesday from the 15-month low reached a day before, as the Reserve Bank of India (RBI) stepped in with heavy dollar sales.   Besides, trade data for April, released after market hours on Tuesday, showed that non-oil imports fell and exports made a robust recovery, despite rising global crude oil prices. READ MORE

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

FMCG shares in focus; HUL hits new high, ITC up 2% post Q4 results   Shares of fast moving consumer goods (FMCG) companies were trading higher with Nifty FMCG and the S&P BSE FMCG index gaining 2% in otherwise weak market.    Hindustan Unilever (HUL), Britannia Industries and Colgate-Palmolive (India) hit their respective new highs on the BSE. READ MORE

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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