MARKETS ON MONDAY: Sensex ends 232 pts lower; Realty, pharma, metals drag
This was the fifth consecutive session of losses for the markets. PSU bank stocks, however, bucked the trend
 "Stock market")
The markets ended lower for the fifth straight session on Monday, following the resignation of the Bharatiya Janata Party's (BJP's) B S Yeddyurappa in the Karnataka Assembly despite positive global cues.
The S&P BSE Sensex ended at 34,616, down 232 points while the broader Nifty50 index settled at 10,517, down 80 points.
B S Yeddyurappa’s third chief ministerial stint lasted all of 55 hours, and his resignation on Saturday evening came as a shot in the arm for an Opposition struggling to mount a united challenge to the Narendra Modi-led Bharatiya Janata Party (BJP) in the 2019 Lok Sabha elections.
Among sectoral indices, the Nifty PSU Bank index ended 2.66% higher led by a rise in the shares of Bank of India, Union Bank of India and Punjab National Bank. However, the Nifty Realty index fell 3.29%, Nifty Pharma slipped 2.78% and Nifty Metal ended 1.68% lower.
GLOBAL MARKETS
The S&P BSE Sensex ended at 34,616, down 232 points while the broader Nifty50 index settled at 10,517, down 80 points.
B S Yeddyurappa’s third chief ministerial stint lasted all of 55 hours, and his resignation on Saturday evening came as a shot in the arm for an Opposition struggling to mount a united challenge to the Narendra Modi-led Bharatiya Janata Party (BJP) in the 2019 Lok Sabha elections.
Among sectoral indices, the Nifty PSU Bank index ended 2.66% higher led by a rise in the shares of Bank of India, Union Bank of India and Punjab National Bank. However, the Nifty Realty index fell 3.29%, Nifty Pharma slipped 2.78% and Nifty Metal ended 1.68% lower.
GLOBAL MARKETS
Asian markets closed mostly higher. Japan's Nikkei 225 rose 0.3 per cent to 23,002.37. Hong Kong's Hang Seng gained 0.6 per cent to 31,234.35, while the Shanghai Composite Index advanced 0.6 per cent to 3,213.84. South Korea's Kospi added 0.2 per cent to 2,465.57. Australia's S&P/ASX 200 inched down 0.1 per cent to 6,084.50. Stocks in Southeast Asia were mixed.
OIL PRICES
(with Reuters inputs)
OIL PRICES
il rose on Monday, lifted by a rally across stocks and other commodities, after the United States said it had put a possible trade war with China "on hold". Brent crude futures were up 35 cents at $78.86 a barrel, having hit a high above $80 last week, while U.S. West Texas Intermediate (WTI) crude futures rose 29 cents to $71.57 a barrel.
A possible U.S. trade war with China is "on hold" after the world's largest economies agreed to drop their tariff threats while they work on a wider trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday, giving global markets a lift in early trading on Monday.
(with Reuters inputs)
3:48 PM
Nifty Realty index cracks 3.29%. Top losers:
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) |
| INDBULL.REALEST. | 185.20 | 205.70 | -20.50 | -9.97 |
| H D I L | 26.25 | 28.30 | -2.05 | -7.24 |
| UNITECH | 4.40 | 4.60 | -0.20 | -4.35 |
| BRIGADE ENTERPR. | 240.85 | 251.25 | -10.40 | -4.14 |
| GODREJ PROPERT. | 747.55 | 776.90 | -29.35 | -3.78 |
3:45 PM
Nifty PSU Bank index ends 2.66% up. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| BANK OF INDIA | 97.95 | 93.45 | 4.50 | 4.82 |
| PUNJAB NATL.BANK | 78.15 | 74.75 | 3.40 | 4.55 |
| UNION BANK (I) | 86.95 | 83.25 | 3.70 | 4.44 |
| CANARA BANK | 245.65 | 235.70 | 9.95 | 4.22 |
| SYNDICATE BANK | 44.55 | 43.30 | 1.25 | 2.89 |
3:40 PM
Nifty sectoral performers of the day
3:37 PM
BSE Sensex: SBI, ICICI Bank among top gainers, Dr. Reddy top loser of the day
3:32 PM
Market at close
The S&P BSE Sensex ended at 34,616, down 232 points while the broader Nifty50 index settled at 10,517, down 80 points.
3:20 PM
Shares of midcap and smallcap companies were under pressure with 111 stocks hitting their respective 52-week lows as these indices have fallen more than 1% on Monday.
Adani Power, Ajanta Pharma, Castrol India, CRISIL, Federal Bank, Glenmark Pharmaceuticals, IDFC Bank, LIC Housing Finance and Vakrangee from the midcap index hit 52-week lows today. READ MORE
Midcap, Smallcap shares under pressure; 111 stocks hit 52-week low
Shares of midcap and smallcap companies were under pressure with 111 stocks hitting their respective 52-week lows as these indices have fallen more than 1% on Monday.
Adani Power, Ajanta Pharma, Castrol India, CRISIL, Federal Bank, Glenmark Pharmaceuticals, IDFC Bank, LIC Housing Finance and Vakrangee from the midcap index hit 52-week lows today. READ MORE
3:19 PM
Emkay Global on Untratech Cement - Century Textiles deal
There could be synergies from: a) common procurement of raw material (RM), b) brand building as UTCEM’s brand commands a premium of Rs10-15/bag over CTIL in most markets and c) reduction in overheads - marketing, finance etc. Ultratech (UTCEM) expects the cost of acquired assets to be almost similar to UTCEM within one year of the acquisition.
In the near term, we are cautious on the cement sector due to fight for capacity share and deterioration in pricing power. UTCEM remains one of our preferred picks in the sector. We retain ACCUMULATE rating with a target price of Rs4,279
In the near term, we are cautious on the cement sector due to fight for capacity share and deterioration in pricing power. UTCEM remains one of our preferred picks in the sector. We retain ACCUMULATE rating with a target price of Rs4,279
3:03 PM
D-Mart falls 11% in two days on promoter R K Damani upto 1% stake sale plan
Shares of Avenue Supermarts - the operators of retail chain D-Mart, have fallen 6% to Rs 1,338 per share, extending their 5% drop on the BSE on Friday after the company announced that promoter R K Damani would pare his stake to comply with the shareholding norms.
D-Mart lost Rs 93.21 billion market-cap in past two days from Rs 933.10 billion on Thursday, May 17, 2018 to Rs 839.89 billion at 12:26 pm; the BSE data shows. READ MORE
2:49 PM
Shares of Amara Raja Batteries have declined 8% to Rs 760 per share, extending their 5% fall on Friday on the BSE after the company reported a lower than expected 10.7% growth in standalone net profit at Rs 1.1 billion in March quarter (Q4FY18). Analysts on an average had expected profit of Rs 1.26 billion for the quarter. READ MORE
Amara Raja Batteries slips 8% post Q4 results
Shares of Amara Raja Batteries have declined 8% to Rs 760 per share, extending their 5% fall on Friday on the BSE after the company reported a lower than expected 10.7% growth in standalone net profit at Rs 1.1 billion in March quarter (Q4FY18). Analysts on an average had expected profit of Rs 1.26 billion for the quarter. READ MORE
2:45 PM
Market check
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 34,638.77 | -209.53 | -0.60 |
| S&P BSE SENSEX 50 | 11,015.52 | -75.32 | -0.68 |
| S&P BSE SENSEX Next 50 | 31,911.39 | -529.43 | -1.63 |
| S&P BSE 100 | 10,812.50 | -89.40 | -0.82 |
| S&P BSE Bharat 22 Index | 3,504.74 | +10.84 | +0.31 |
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First Published: May 21 2018 | 3:30 PM IST