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MARKET WRAP: Sensex ends 40 pts up, Nifty at 10,787 ahead of US-Korea meet

Bharti Airtel gained 3.5% on the BSE today, while Sun Pharma rose 1.1%. Tata Steel lost 2.1%

SI Reporter  |  New Delhi 

Photo: Shutterstock.com
Photo: Shutterstock.com

Nifty Pharma index ends 0.50% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) SUN PHARMA.INDS. 535.70 528.25 7.45 1.41 GLENMARK PHARMA. 564.40 556.75 7.65 1.37 CADILA HEALTH. 368.45 364.35 4.10 1.13 DR REDDY'S LABS 2083.20 2062.90 20.30 0.98 AUROBINDO PHARMA 576.45 572.35 4.10 0.72 Sectoral Trend NEW FUND OFFER   Invesco Mutual Fund launched a new fund - Invesco India Equity & Bond Fund, (an open ended hybrid scheme investing predominantly in equity and equity related instruments). The fund seeks to generate capital appreciation and current income by investing predominantly in equity & equity related instruments as well as debt securities.   The minimum investment amount during the NFO is Rs 5000 and in multiples of Re. 1/- thereafter. For SIP investments, the minimum application amount is Rs 500 under the monthly SIP option for minimum 12 installments and Rs 1500/- under the quarterly SIP option and in multiples of Rs. 1 thereafter.    An exit load of 1% will be payable on investments redeemed/switched out on or before one year from the date of allotment. The new fund offers Growth, Dividend Payout and Dividend Reinvestment options. The fund is benchmarked against CRISIL Hybrid 35+65 – Aggressive Index. BSE Sensex: Bharti Airtel, Sun Pharma among top gainers of the day, Tata Steel top loser Market at close   The S&P BSE Sensex ended at 35,483, up 40 points while the broader Nifty50 index settled at 10,787, up 19 points. Investors divided over plans to raise $47 bn fund for tech IPOs in China Asset managers began fundraising for six Chinese "unicorn" funds on Monday, offering retail investors a new investment channel but potentially straining tight market liquidity.   The 300 billion yuan ($47 billion) they seek to raise in the coming week stands to top all the equity funds raised in China last year, and the money will be used to fund mainland listings of homegrown tech firms such as smartphone maker Xiaomi and e-commerce giant Alibaba Group Holding. READ MORE

The markets pared their day's gains to end flat on Monday amid trade tensions ahead of a landmark meeting between US President Donald Trump and North Korean leader Kim Jong Un scheduled tomorrow.

The S&P BSE Sensex ended at 35,483, up 40 points while the broader Nifty50 index settled at 10,787, up 19 points.

Among individual stocks, Bharti Airtel gained 3.5% on the BSE today, while Sun Pharma rose 1.1%. Tata Steel lost 2.1%.

A weekend G7 summit fanned trade conflict fears after US President Donald Trump backed out of a joint communique in a blow to the group’s efforts to show a united front. Trump’s reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of Seven partners scrambling.

Meanwhile, the Federal Reserve will hold a two-day meeting starting on Tuesday, June 12, and it is widely expected to raise interest rates for the second time this year. The focus is on whether the central bank will hint at raising rates a total of four times in 2018.

Back home, the near term market trend will be dictated by domestic macro data like IIP, CPI and WPI, movement of crude oil prices and currency (INR vs USD) and progress of monsoon.

GLOBAL MARKETS

Asia stocks shook off initial modest losses and edged up on Monday ahead of a US-North Korea summit that might ease regional tensions, while investors also started to focus on key central bank meetings later this week.

Stocks dipped after US President Donald Trump backed out of a joint Group of Seven communique over the weekend, in a blow to the group’s efforts to show a united front.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped early but was last up 0.3 per cent. Hong Kong’s Hang Seng also gained 0.3 per cent while the Shanghai Composite Index fell 0.5 per cent.
 
South Korea’s KOSPI added 0.4 per cent, and Japan’s Nikkei climbed 0.3 per cent.

(with wire inputs)

First Published: Mon, June 11 2018. 15:30 IST
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MARKET WRAP: Sensex ends 40 pts up, Nifty at 10,787 ahead of US-Korea meet

Bharti Airtel gained 3.5% on the BSE today, while Sun Pharma rose 1.1%. Tata Steel lost 2.1%

The markets pared their day's gains to end flat on Monday amid trade tensions ahead of a landmark meeting between US President Donald Trump and North Korean leader Kim Jong Un scheduled tomorrow.

The S&P BSE Sensex ended at 35,483, up 40 points while the broader Nifty50 index settled at 10,787, up 19 points.

Among individual stocks, Bharti Airtel gained 3.5% on the BSE today, while Sun Pharma rose 1.1%. Tata Steel lost 2.1%.

A weekend G7 summit fanned trade conflict fears after US President Donald Trump backed out of a joint communique in a blow to the group’s efforts to show a united front. Trump’s reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of Seven partners scrambling.

Meanwhile, the Federal Reserve will hold a two-day meeting starting on Tuesday, June 12, and it is widely expected to raise interest rates for the second time this year. The focus is on whether the central bank will hint at raising rates a total of four times in 2018.

Back home, the near term market trend will be dictated by domestic macro data like IIP, CPI and WPI, movement of crude oil prices and currency (INR vs USD) and progress of monsoon.

GLOBAL MARKETS

Asia stocks shook off initial modest losses and edged up on Monday ahead of a US-North Korea summit that might ease regional tensions, while investors also started to focus on key central bank meetings later this week.

Stocks dipped after US President Donald Trump backed out of a joint Group of Seven communique over the weekend, in a blow to the group’s efforts to show a united front.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped early but was last up 0.3 per cent. Hong Kong’s Hang Seng also gained 0.3 per cent while the Shanghai Composite Index fell 0.5 per cent.
 
South Korea’s KOSPI added 0.4 per cent, and Japan’s Nikkei climbed 0.3 per cent.

(with wire inputs)

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