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MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddy's up 6% post Q4 nos

Markets pared their morning gains to end flat on Tuesday amid weakness in their Asian counterparts

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE, Trade
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Nifty PSU bank index ends 3.25% higher. Top gainer: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) PUNJAB NATL.BANK 81.55 78.15 3.40 4.35 SYNDICATE BANK 46.35 44.55 1.80 4.04 ST BK OF INDIA 253.90 244.45 9.45 3.87 BANK OF BARODA 132.90 129.90 3.00 2.31 UNION BANK (I) 88.40 86.95 1.45 1.67 Nifty sectoral performers BSE Sensex: Dr Reddy's top gainer of the day, Asian Paints top loser Market at close   The S&P BSE Sensex ended at 34,651, up 35 points while the broader Nifty50 index settled at 10,537, up 20 points. Dr Reddy's Q4 profit falls 19 % on US headwinds, revenue drops to Rs 14 bn Indian generic drugmaker Dr. Reddy's Laboratories Ltd posted a 19 percent drop in quarterly net profit on Tuesday, missing analysts' estimates, pulled down by headwinds in the US market.   The company's net profit, for the quarter ended March 31, came in at 2.72 billion rupees ($39.98 million), compared with 3.38 billion rupees a year earlier, the company said. READ MORE Stock Quote: RCom gains as company files appeal before NCLAT against NCLT order Reliance Communications (RCom) has moved higher by upto 19% to Rs 15.95 in noon deal, bouncing back 24% from its early morning low on the BSE after the company filed appeal before the Hon’ble National Company Law Appellate Tribunal (NCLAT) against the Hon’ble National Company Law Tribunal (NCLT) order. The stock hit an intra-day low of Rs 12.90 on the BSE. READ MORE  

pared morning gains to end flat on Tuesday amid weakness in their Asian counterparts.

The S&P ended at 34,651, up 35 points while the broader Nifty50 index settled at 10,537, up 20 points.


Among sectoral indices, the Metal index is nearly 1% up led by a rise in of JSW Steel, Hindustan Copper and Coal India.

Among individual stocks, State Bank of India (SBI) gained 3% even after it posted net loss of Rs 77.18 bn in January - March 2018 quarter, as against a net profit of Rs 28.15 billion in the previous corresponding period.

Dr Reddy's Labs gained over 6% even after it posted an about 3% fall in quarterly profit, hurt by headwinds in the US market.

GLOBAL MARKETS

Asian skidded on Tuesday as a strong dollar sapped demand for emerging market assets while surging stoked concerns about a flare-up in inflation and faster U.S. interest rate increases.

Japan's Nikkei was mostly flat while Australian fell 0.9 per cent. Chinese shares opened in the red with the blue-chip CSI300 off 0.7 per cent. Liquidity was relatively thin due to holidays in South Korea and Hong Kong.

The MSCI's broadest index of Asia-Pacific shares outside Japan was just a shade higher at 568.4 points, but well below an all-time peak of 617.12 hit in January.

OIL PRICES

rose on Tuesday, with Brent edging closer to $80 per barrel, on concerns that Venezuela's crude output could drop further following a disputed presidential election and potential U.S. sanctions on the OPEC-member.

Brent crude futures were at $79.37 per barrel, up 15 cents, or 0.2 per cent, from their last close. Brent broke through $80 for the first time since November 2014 last week. The US West Texas Intermediate (WTI) crude futures were at $72.45 a barrel, up 21 cents, or nearly 0.3 per cent.

(with Reuters inputs)

First Published: Tue, May 22 2018. 15:30 IST
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MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddy's up 6% post Q4 nos

Markets pared their morning gains to end flat on Tuesday amid weakness in their Asian counterparts

Markets pared their morning gains to end flat on Tuesday amid weakness in their Asian counterparts pared morning gains to end flat on Tuesday amid weakness in their Asian counterparts.

The S&P ended at 34,651, up 35 points while the broader Nifty50 index settled at 10,537, up 20 points.

Among sectoral indices, the Metal index is nearly 1% up led by a rise in of JSW Steel, Hindustan Copper and Coal India.

Among individual stocks, State Bank of India (SBI) gained 3% even after it posted net loss of Rs 77.18 bn in January - March 2018 quarter, as against a net profit of Rs 28.15 billion in the previous corresponding period.

Dr Reddy's Labs gained over 6% even after it posted an about 3% fall in quarterly profit, hurt by headwinds in the US market.

GLOBAL MARKETS

Asian skidded on Tuesday as a strong dollar sapped demand for emerging market assets while surging stoked concerns about a flare-up in inflation and faster U.S. interest rate increases.

Japan's Nikkei was mostly flat while Australian fell 0.9 per cent. Chinese shares opened in the red with the blue-chip CSI300 off 0.7 per cent. Liquidity was relatively thin due to holidays in South Korea and Hong Kong.

The MSCI's broadest index of Asia-Pacific shares outside Japan was just a shade higher at 568.4 points, but well below an all-time peak of 617.12 hit in January.

OIL PRICES

rose on Tuesday, with Brent edging closer to $80 per barrel, on concerns that Venezuela's crude output could drop further following a disputed presidential election and potential U.S. sanctions on the OPEC-member.

Brent crude futures were at $79.37 per barrel, up 15 cents, or 0.2 per cent, from their last close. Brent broke through $80 for the first time since November 2014 last week. The US West Texas Intermediate (WTI) crude futures were at $72.45 a barrel, up 21 cents, or nearly 0.3 per cent.

(with Reuters inputs)
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Business Standard
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MARKET WRAP: Indices end flat; SBI gains 4%, Dr Reddy's up 6% post Q4 nos

Markets pared their morning gains to end flat on Tuesday amid weakness in their Asian counterparts

pared morning gains to end flat on Tuesday amid weakness in their Asian counterparts.

The S&P ended at 34,651, up 35 points while the broader Nifty50 index settled at 10,537, up 20 points.

Among sectoral indices, the Metal index is nearly 1% up led by a rise in of JSW Steel, Hindustan Copper and Coal India.

Among individual stocks, State Bank of India (SBI) gained 3% even after it posted net loss of Rs 77.18 bn in January - March 2018 quarter, as against a net profit of Rs 28.15 billion in the previous corresponding period.

Dr Reddy's Labs gained over 6% even after it posted an about 3% fall in quarterly profit, hurt by headwinds in the US market.

GLOBAL MARKETS

Asian skidded on Tuesday as a strong dollar sapped demand for emerging market assets while surging stoked concerns about a flare-up in inflation and faster U.S. interest rate increases.

Japan's Nikkei was mostly flat while Australian fell 0.9 per cent. Chinese shares opened in the red with the blue-chip CSI300 off 0.7 per cent. Liquidity was relatively thin due to holidays in South Korea and Hong Kong.

The MSCI's broadest index of Asia-Pacific shares outside Japan was just a shade higher at 568.4 points, but well below an all-time peak of 617.12 hit in January.

OIL PRICES

rose on Tuesday, with Brent edging closer to $80 per barrel, on concerns that Venezuela's crude output could drop further following a disputed presidential election and potential U.S. sanctions on the OPEC-member.

Brent crude futures were at $79.37 per barrel, up 15 cents, or 0.2 per cent, from their last close. Brent broke through $80 for the first time since November 2014 last week. The US West Texas Intermediate (WTI) crude futures were at $72.45 a barrel, up 21 cents, or nearly 0.3 per cent.

(with Reuters inputs)

image
Business Standard
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