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MARKETS ON THURSDAY: Crude at $80/bbl, K'taka verdict keep indices on edge

Benchmark indices slipped on Thursday, hurt by financial stocks

SI Reporter  |  New Delhi 

Benchmark indices slipped on Thursday as oil prices hit their highest level since November 2014 on Thursday, with Brent crude touching $80 per barrel as supplies tighten and tensions with Iran simmer. The S&P BSE Sensex ended at 35,149, down 239 points while the broader Nifty50 index settled at 10,683, down 58 points. Back home, doubts whether the Bharatiya Janata Party (BJP) could prove its majority in the southern state of Karnataka also weighed on investor sentiment. State BJP president B S Yeddyurappa was sworn in as chief minister on Thursday morning even though his ...

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MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

Nifty FMCG index ends 1.28% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) ITC 278.95 285.85 -6.90 -2.41 P & G HYGIENE 9206.30 9396.55 -190.25 -2.02 BRITANNIA INDS. 5476.75 5542.20 -65.45 -1.18 GODREJ CONSUMER 1081.05 1093.55 -12.50 -1.14 DABUR INDIA 371.35 373.85 -2.50 -0.67

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

Nifty Sectoral gainers and losers

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

BSE Sensex: Top gainers and losers of the day

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

Market at close   The S&P BSE Sensex ended at 35,149, down 239 points while the broader Nifty50 index settled at 10,683, down 58 points.

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

HUL surpasses ITC in market cap ranking first time since February 2005 Hindustan Unilever (HUL), the fast moving consumer goods (FMCG) company, has surpassed ITC, the cigarettes major, in market capitalisation (market-cap) ranking after a gap of more than one decade.   HUL with Rs 3,424 billion market-cap overtook ITC, which have market-cap of Rs 3,415 billion at 02:59 pm; the BSE data shows. Earlier, on February 22, 2005, HUL had market-cap of Rs 319.72 billion and ITC had market-cap of Rs 318.74 billion, CapitalinePlus data shows. READ MORE

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

JUST NOW Brent crude above $80/bbl for the first time since November 2014

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

Equirus Securities on Jubilant FoodWorks   With the new strategy yielding strong growth over the past one year, the platform is set for the next phase of growth, which would be sustainable in our view. Accordingly, we raise our FY19/FY20 sales estimates by 3%/7%; we also upgrade our EBITDA estimates by 10%/18% to factor in the higher-than-expected new store additions. Reiterate ADD with a Jun’19 target price of Rs 2,738 (vs. Rs 2,330 earlier) set at a 60x TTM EPS of Rs 45.6

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

IIFL on JSW Steel   We have upgraded our estimates factoring in stronger than expected steel prices in the domestic market and benign raw material costs. We believe domestic prices would remain strong as demand has picked up and production from some companies remain impacted. The impact on this on our target price is marginally offset by the impact of the huge capex plan announced by the company. We maintain our Accumulate rating on the stock with a target price of Rs.360

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

Bajaj Finance hits record high as Q4 profit beats estimates;stock surges 7%   Bajaj Finance has moved higher by 7% to Rs 2,045, also its record high on the BSE, after the company reported a better than expected 60% year on year (YoY) jumped in its standalone net profit at Rs 7.21 billion in March quarter (Q4FY18). The stock surpassed its previous high of Rs 1,989 recorded on September 8, 2017 in intra-day trade.   Net revenue from operations grew 40% at Rs 23.43 billion against Rs 16.78 billion in the corresponding quarter of previous fiscal. READ MORE

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

Equirus on Exide Industries   We raise our FY19/FY20E standalone EPS by ~5% on expectations of higher growth and margin expansion driven by lower lead prices and operating leverage. While we remain positive on EXID, we revise our rating to ADD (from LONG) post the stock run-up over last three months. Our Jun’19 target price stands at Rs 281 (Mar’19 target of Rs 248 earlier) as we value the battery business at 22x Jun’19 EPS and insurance at Rs 46/share.

MARKETS ON THURSDAY: Crude at $80/bbl, Ktaka verdict keep indices on edge

RBI to the rescue with likely $15 billion bond-purchase to cap yields   Embattled investors in India’s government bond market are hoping to see the light at the end of the tunnel as the central bank comes to their rescue.   The RBI is likely to buy 1 trillion rupees ($15 billion) of securities in the current fiscal year, the survey showed, as authorities seek to cool yields and ensure a smooth passage for the government’s borrowing program. The first tranche is due Thursday. READ MORE

First Published: Thu, May 17 2018. 15:30 IST
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MARKETS ON THURSDAY: Crude at $80/bbl, K'taka verdict keep indices on edge

Benchmark indices slipped on Thursday, hurt by financial stocks

Benchmark indices slipped on Thursday as oil prices hit their highest level since November 2014 on Thursday, with Brent crude touching $80 per barrel as supplies tighten and tensions with Iran simmer. The S&P BSE Sensex ended at 35,149, down 239 points while the broader Nifty50 index settled at 10,683, down 58 points. Back home, doubts whether the Bharatiya Janata Party (BJP) could prove its majority in the southern state of Karnataka also weighed on investor sentiment. State BJP president B S Yeddyurappa was sworn in as chief minister on Thursday morning even though his ...

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