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Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

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SI Reporter  |  New Delhi 

The benchmark indices ended marginally lower on Tuesday amid a range-bound trade during the day. The S&P BSE Sensex ended at 33,704, down 71 points while the broader Nifty50 index settled at 10,360, down 18 points. The indices were supported by the strength in metal stocks and recovery in PSU bank counters from their day's low. The Nifty Metal index ended up 1.1% led by a rise in shares of Vedanta and NMDC Limited. Among the public sector banks, Syndicate Bank rose 4.7%. Bank of India, IDBI Bank, Indian Bank and Canara Bank were also among the top ...

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Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Sectoral Trend

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Sensex losers and gainers

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Market at close   The S&P BSE Sensex ended at 33,704, down 71 points while the broader Nifty50 index settled at 10,360, down 18 points.

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Moody's places PNB under review for downgrade after Nirav Modi's fraud Following the biggest scam in the country's banking sector to the tune of Rs 113.4 billion at state-run Punjab National Bank (PNB), Moody's today placed the lender under review for downgrade.   The agency has a Baa3/P-3 rating on the Delhi-based lender now while it has a Baa3 rating on its foreign currency issuer rating. The bank overall has a Baa2 rating with a stable outlook now from Moody's. READ MORE

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Cabinet ends Coal India monopoly, allows commercial mining by private firms After four years of enabling commercial mining and sale of coal in the new Coal Ordinance (Special Provisions), 2014, the Cabinet on Tuesday approved the methodology for auctioning coal mines to private companies. State-owned Coal India has been the sole commercial miner in India for 41 years now with a market share of 80%.   The move aims to open up coal mining for private players, both Indian and foreign. In 2015, the government had permitted the allotment of coal mines to states for mining and commercial sale to medium, small and cottage industries. CLICK HERE FOR FULL STORY

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

MUST READ Regulatory lessons: India should reduce dependence on the banking system The accusations levelled against staffers of Punjab National Bank (PNB) — that they arranged for letters of undertaking to be provided to foreign branches of Indian banks to benefit companies controlled by jeweller Nirav Modi and associates — have thrown up important questions about bank management and regulation in India.   While the sums involved are large — the total sum being examined in relation to the fraudulent letters of undertaking is $1.8 billion — it is unclear how much has actually been taken out of the system. READ MORE

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Sectoral watch: Nifty PSU Bank up nearly 2%

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Zydus Wellness hits new high; surges 32% post Q3 results Zydus Wellness hit a new high of Rs 1,298, up 11% on the BSE in intra-day trade on the back of heavy volumes. In past two weeks, the stock of this packaged foods company has rallied 32% from Rs 982 on February 6, after reporting a strong earnings growth for the quarter ended December 2017 (Q3FY18). By comparison, the S&P BSE Sensex has lost 0.83% during this period READ MORE

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

NASSCOM on Information technology sector growth India's software services sector will see revenue growth of 7-9 percent in constant currency terms in the fiscal year to March 2019, a leading lobby group forecast on Tuesday. The country's $154 billion IT sector has been mired in worries about U. S. visa measures, as well as a broader slowdown in technology spending among other factors.  READ MORE

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Market watch S&P BSE Sensex 33,898.15 0.37%   Nifty 50 10,408.10 0.29%   S&P BSE 200 4,555.67 0.41%   Nifty 500 9,186.70 0.29%   S&P BSE Mid-Cap 16,477.88 0.30%   S&P BSE Small-Cap 17,884.85 0.16%

Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Reliance Securities on KNR Constructions (KNRC) We maintain our positive view on KNRC mainly owing to healthy order book, strong balance sheet (0.1x net D/E) and sound execution credentials. We expect KNRC’s revenue and PAT to register 19% and 17% CAGR, respectively through FY17-FY20E on the back of decent order book, healthy margin and expected healthy order inflow in coming months. Valuing KNRC’s standalone business at Rs345 based on 20x FY20E earnings and Kerala & Bihar BOT at Rs15 (at 1x P/ BV), we reiterate our BUY recommendation on the stock with a revised SOTP-based Target Price of Rs360

First Published: Tue, February 20 2018. 15:30 IST
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Sensex ends 71 pts down, Nifty at 10,360 levels; PSU Bank Index up 0.8%

Catch all the market action here.

The benchmark indices ended marginally lower on Tuesday amid a range-bound trade during the day. The S&P BSE Sensex ended at 33,704, down 71 points while the broader Nifty50 index settled at 10,360, down 18 points. The indices were supported by the strength in metal stocks and recovery in PSU bank counters from their day's low. The Nifty Metal index ended up 1.1% led by a rise in shares of Vedanta and NMDC Limited. Among the public sector banks, Syndicate Bank rose 4.7%. Bank of India, IDBI Bank, Indian Bank and Canara Bank were also among the top ...

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