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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 

The domestic indices ended nearly 1% lower on Monday taking cues from its Asian counterparts. The S&P BSE Sensex ended at 33,747, down 300 pts while the broader Nifty50 index settled at 10,359, down 99 points. Among sectoral indices, the Nifty Metal index settled 3.28% lower led by a fall in shares of Jindal Steel & Power, Jindal Stainless (Hisar) and Steel Authority of India Limited. The Nifty 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 ...

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

Nifty Auto falls over 1%

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

Metal stocks lead fall, Nifty Metal index down over 3%

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

Sectoral Trend

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

Sensex heatmap

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

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

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

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.

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

IDBI Bank bucks trend in weak market; zooms 51% in one month   IDBI Bank hit a fresh 52-week high of Rs 91.50, up 14% on the National Stock Exchange (NSE) in intra-day trade, extending its past one month rally, after the credit rating agencies revised the upwards outlook of the bank to stable from negative.   In past one month, the stock of state-owned bank has zoomed 51% from Rs 60.40, as compared to 2.8% decline in the Nifty 50 index. READ MORE

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

US import tariff likely to have limited impact: Analysts   Metal stocks bore the brunt of US President Donald Trump’s plans of imposing 25 per cent import tariff on steel and 10 per cent on aluminium with the Nifty Metal index slipping 3.7 per cent in intra-day deals. By comparison, the Nifty 50 index lost 1.2 per cent.   Among individual stocks, NMDC, Jindal Steel, Jindal Stainless (Hisar), National Aluminium (NALCO), JSW Steel and SAIL slipped 4.6 per cent to 6.4 per cent during the day. READ MORE

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

Sector watch: Infrastructure   We maintain our positive stance on the sector and see EPC companies delivering superior returns over the next 12-18 months, after a muted FY17. Our top picks are NCC, Ahluwalia Contracts, and Ashoka Buildcon.    We also like PNC Infratech and KNR Construction but while PNC is likely to remain subdued in the near termdue to its stuck projects in UP/Bihar, KNR appears expensive on valuations. ITD Cementation appears expensive, especially with its execution track record of last few quarters and its unattractive positioning with respect to segments with maximum opportunity   (Source: Phillip Capital)

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

Market Check   S&P BSE Sensex 33,793.93 -0.74%   Nifty 50 10,363.35 -0.91%   S&P BSE 200 4,531.86 -0.88%   Nifty 500 9,137.00 -0.96%   S&P BSE Mid-Cap 16,319.60 -0.86%   S&P BSE Small-Cap 17,884.87 -1.11%

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

LTCG tax: Gold, real estate may see revival over the next year The change in long-term capital gains (LTCG) tax on equity coupled to the related tax on equity-oriented funds could lead to significant changes in investment strategies for investors. To recap, the tax-meter starts ticking only from a base date of January 31, 2018 due to the ‘grandfathering’ concept. The price of a stock on January 31, 2018 is used for calculating LTCG. (A more complicated formula is used for mutual funds where systematic investment plans (SIPs) complicate the question of acquisition price). READ MORE

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.

The domestic indices ended nearly 1% lower on Monday taking cues from its Asian counterparts. The S&P BSE Sensex ended at 33,747, down 300 pts while the broader Nifty50 index settled at 10,359, down 99 points. Among sectoral indices, the Nifty Metal index settled 3.28% lower led by a fall in shares of Jindal Steel & Power, Jindal Stainless (Hisar) and Steel Authority of India Limited. The Nifty 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 ...

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