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MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

Among sectoral indices, the Nifty PSU Bank index ended around 2% lower led by a fall in the shares of Allahabad Bank, Union Bank of India and Canara Bank.

Topics
Market Wrap  |  Nifty  |  Sensex

SI Reporter  |  New Delhi 

Benchmark indices ended lower following Asian shares, that got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions while US oil prices maintained hefty gains made after major oil producers had agreed on a modest increase in production. The S&P BSE Sensex ended at 35,470, down 219 points while the broader Nifty50 index settled at 10,762, down 59 points. Tata Motors was the top Sensex loser that ended nearly six per cent lower at Rs 290 levels, followed by ICICI Bank, Coal India, Adani Ports and Larsen & Toubro. Among sectoral ...

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MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

Nifty PSU Bank index ended 2.09% lower today. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) ALLAHABAD BANK 41.40 44.90 -3.50 -7.80 UNION BANK (I) 82.35 85.75 -3.40 -3.97 CANARA BANK 249.10 259.40 -10.30 -3.97 BANK OF BARODA 116.70 121.50 -4.80 -3.95 ORIENTAL BANK 75.45 78.45 -3.00 -3.82

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

Nifty sectoral losers of the day

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

BSE Sensex: Infosys top gainer of the day, Tata Motors, ICICI Bank top losers

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

Market at close   The S&P BSE Sensex ended at 35,470, down 219 points while the broader Nifty50 index settled at 10,762, down 59 points.

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

Tata Motors falls 5% on concerns of auto tariff fears in US Tata Motors dipped 5% to Rs 292 on the BSE in intra-day trade amid concerns of auto tariff threat by US on European Cars. The stock trading close to its 52-week low of Rs 582 touched on May 31, 2018 on the BSE in intra-day trade. READ MORE

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

ICICI Securities on Heritage Foods We came back positive after meeting management of Heritage Foods. The company’s all the initiatives such as 1) yoghurt plant, 2) Alpenvie premium ice creams and 3) animal feed business are on track. With fall in milk prices, we expect the company to report better margins in FY19. We expect Heritage to report revenue and PAT CAGR of 17.6% and 58.8% over FY18-20 with adjusted RoCE above cost of capital and retain BUY rating with target price of Rs 860 (29x FY20E).

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

HDFC Securities on Bajaj Auto The stock trades at 15x FY20E earnings, which is attractive. We recommend BUY on Bajaj Auto, at CMP of Rs 2,835, and add on dips to Rs 2,670 with a target price of Rs 3,350. We have assigned a target price of Rs 3,350 based on ~18x PE of FY20 earnings. Strong volume growth led by robust sales from the three-wheeler segment and exports, healthy return ratios and robust balance sheet supports our positive view on the stock.

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

P-note investments dip to over 9-year low in May as Sebi tightens norms Investments through participatory notes into Indian capital markets plunged to over 9-year low of more than Rs 930 billion at May-end amid stringent norms put in place by Sebi to check the misuse of these instruments.   P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock markets without registering themselves directly. They, however, need to go through a proper due diligence process. READ MORE

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

Recently listed IPOs IPO NAME IPO PRICE() LATEST PRICE() LIST DATE ACCURACY SHIPPI. 84 85.50 JUN 22,2018 PRITI INTERNATI. 75 84.00 JUN 21,2018 SHREEOSWAL SEEDS 26 28.10 JUN 20,2018 NAKODA GROUP 35 36.50 JUN 06,2018 LATTEYS INDUSTR. 66 58.00 JUN 05,2018 [*] IPO Price unadjusted> More Listed IPOs

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

Stock Idea (Source: HDFC Securities)

MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

Nifty PSU Bank index dowm almost 2%; Top losers in the pack COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME ALLAHABAD BANK 41.95 44.90 -2.95 -6.57 4963430 UNION BANK (I) 82.80 85.75 -2.95 -3.44 4477334 SYNDICATE BANK 45.30 46.80 -1.50 -3.21 1921582 BANK OF BARODA 118.25 121.50 -3.25 -2.67 7365151 ORIENTAL BANK 76.45 78.45 -2.00 -2.55 1227638 Click here for more

First Published: Mon, June 25 2018. 08:15 IST
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MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers

Among sectoral indices, the Nifty PSU Bank index ended around 2% lower led by a fall in the shares of Allahabad Bank, Union Bank of India and Canara Bank.

Benchmark indices ended lower following Asian shares, that got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions while US oil prices maintained hefty gains made after major oil producers had agreed on a modest increase in production. The S&P BSE Sensex ended at 35,470, down 219 points while the broader Nifty50 index settled at 10,762, down 59 points. Tata Motors was the top Sensex loser that ended nearly six per cent lower at Rs 290 levels, followed by ICICI Bank, Coal India, Adani Ports and Larsen & Toubro. Among sectoral ...

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