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Sensex ends 300 pts down, Nifty 1% lower; Metal, auto stocks decline

All that happened in the markets today.

SI Reporter  |  New Delhi 

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Nifty Auto falls over 1% Metal stocks lead fall, Nifty Metal index down over 3% Sectoral Trend Sensex heatmap Markets at Close The S&P BSE Sensex ended at 33,747, down 300 pts while the broader Nifty50 index settled at 10,358, down 99 points Geojit on Larsen & Toubro   We project Sales/PAT CAGR of 12.2/17.5% over FY17-20E. Recovery in domestic business, strong order pipeline, sale of non-core assets, focus on improving RoE & working capital and healthy execution of large order backlog will drive the stock going forward. Hence, we upgrade the stock to BUY as we roll forward our valuation to FY20 with a SOTP based TP of Rs. 1,515.

The domestic indices ended nearly 1% lower on Monday taking cues from its Asian counterparts.

The S&P ended at 33,747, down 300 pts while the broader Nifty50 index settled at 10,359, down 99 points.


Among sectoral indices, the Metal index settled 3.28% lower led by a fall in of Jindal Steel & Power, Jindal Stainless (Hisar) and Steel Authority of India Limited. The Auto index too slipped 1.57% due to a fall in Tata Motors and Motherson Sumi Systems.

US President Donald Trump said on Thursday that he would impose tariffs on imports of steel and aluminium products, in a move he said would protect US industry. Experts say the move could hurt US producers and face legal challenges from trade partners.

In economic data, business conditions in India’s service sector deteriorated modestly in February, Nikkei PMI data for services showed on Monday. Activity and new work declined for the first time since November, with rates of contraction the fastest since August. The seasonally adjusted Nikkei India Services Business Activity Index fell from 51.7 in January to 47.8 in February, its lowest level since August. The headline figure signalled the first fall in output for three months, but one that was modest. Panellists commented that poor underlying demand conditions had weighed on activity.

GLOBAL MARKETS

Asian investors dumped and drove to the safety of the yen and gold on Monday amid fears of a global trade war and worries of political uncertainty in Italy, risks that cloud the outlook for world growth.

The specter of a global trade war hit risk appetite, sending MSCI’s broadest index of Asia-Pacific outside Japan down 0.8 per cent to the lowest since mid-February. Japan’s Nikkei ended 0.7 percent lower at 21,042.09 while South Korea’s KOSPI faltered 1.1 per cent.

(with wire inputs)

 

First Published: Mon, March 05 2018. 15:30 IST
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Sensex ends 300 pts down, Nifty 1% lower; Metal, auto stocks decline

All that happened in the markets today.

All that happened in the markets today. The domestic indices ended nearly 1% lower on Monday taking cues from its Asian counterparts.

The S&P ended at 33,747, down 300 pts while the broader Nifty50 index settled at 10,359, down 99 points.

Among sectoral indices, the Metal index settled 3.28% lower led by a fall in of Jindal Steel & Power, Jindal Stainless (Hisar) and Steel Authority of India Limited. The Auto index too slipped 1.57% due to a fall in Tata Motors and Motherson Sumi Systems.

US President Donald Trump said on Thursday that he would impose tariffs on imports of steel and aluminium products, in a move he said would protect US industry. Experts say the move could hurt US producers and face legal challenges from trade partners.

In economic data, business conditions in India’s service sector deteriorated modestly in February, Nikkei PMI data for services showed on Monday. Activity and new work declined for the first time since November, with rates of contraction the fastest since August. The seasonally adjusted Nikkei India Services Business Activity Index fell from 51.7 in January to 47.8 in February, its lowest level since August. The headline figure signalled the first fall in output for three months, but one that was modest. Panellists commented that poor underlying demand conditions had weighed on activity.

GLOBAL MARKETS

Asian investors dumped and drove to the safety of the yen and gold on Monday amid fears of a global trade war and worries of political uncertainty in Italy, risks that cloud the outlook for world growth.

The specter of a global trade war hit risk appetite, sending MSCI’s broadest index of Asia-Pacific outside Japan down 0.8 per cent to the lowest since mid-February. Japan’s Nikkei ended 0.7 percent lower at 21,042.09 while South Korea’s KOSPI faltered 1.1 per cent.

(with wire inputs)

 
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Business Standard
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Sensex ends 300 pts down, Nifty 1% lower; Metal, auto stocks decline

All that happened in the markets today.

The domestic indices ended nearly 1% lower on Monday taking cues from its Asian counterparts.

The S&P ended at 33,747, down 300 pts while the broader Nifty50 index settled at 10,359, down 99 points.

Among sectoral indices, the Metal index settled 3.28% lower led by a fall in of Jindal Steel & Power, Jindal Stainless (Hisar) and Steel Authority of India Limited. The Auto index too slipped 1.57% due to a fall in Tata Motors and Motherson Sumi Systems.

US President Donald Trump said on Thursday that he would impose tariffs on imports of steel and aluminium products, in a move he said would protect US industry. Experts say the move could hurt US producers and face legal challenges from trade partners.

In economic data, business conditions in India’s service sector deteriorated modestly in February, Nikkei PMI data for services showed on Monday. Activity and new work declined for the first time since November, with rates of contraction the fastest since August. The seasonally adjusted Nikkei India Services Business Activity Index fell from 51.7 in January to 47.8 in February, its lowest level since August. The headline figure signalled the first fall in output for three months, but one that was modest. Panellists commented that poor underlying demand conditions had weighed on activity.

GLOBAL MARKETS

Asian investors dumped and drove to the safety of the yen and gold on Monday amid fears of a global trade war and worries of political uncertainty in Italy, risks that cloud the outlook for world growth.

The specter of a global trade war hit risk appetite, sending MSCI’s broadest index of Asia-Pacific outside Japan down 0.8 per cent to the lowest since mid-February. Japan’s Nikkei ended 0.7 percent lower at 21,042.09 while South Korea’s KOSPI faltered 1.1 per cent.

(with wire inputs)

 

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Business Standard
177 22