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Sensex ends Samvat 2073 with 17% gain, Nifty up 18%

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SI Reporter  |  New Delhi 

Diwali Muhurat trading from 6.30 pm to 7.30 pm on Oct 19  Market outlook by ICICI Securities   Equity markets across DMs and EMs continued to hit new highs although EM bonds saw mixed performance last week. Volatility continued to be low, which shows that risk appetite is rising.Post the recent market correction in Sep ’17, small-caps (+7.85%) and mid-caps (+ 4.95%) have outperformed large-cap stocks (+4.43%) despite large-cap valuation at a discount to mid-cap valuation. Although markets have reacted positively to the emerging reality, there is a palpable uncertainty around the near-term growth outlook for the Indian economy, which could manifest itself in the wake of incremental disappointing data around growth.   View on earnings   Our Q2 FY18 preview suggests that Nifty PAT could expand by ~11% YoY largely driven by  commodity and financial stocks. Amongst financials, retail lenders continue to register robust earnings growth while volatility is seen in the corporate lending segment. In the non-financial segment, auto (ex 2-wheelers), cement, telecom, pharma and IT are expected to put pressure on Q2FY18 earnings. Consumption-related sectors, industrials and utilities are expected to report growth in mid to high single digits. S&P BSE Sensex, Nifty50 indices end Samvat 2073 with 16.7% and 18.5% gain, respectively CLICK HERE FOR OUR FULL COVERAGE ON MARKETS IN SAMVAT 2073 Sector watch Index Current Value Ch (pts) Ch (%) S&P BSE Basic Materials 3346.54 -5.38 -0.16 S&P BSE Energy 4202.38 102.65 2.5 S&P BSE Fast Moving Consumer Goods 10268.13 14.44 0.14 S&P BSE Healthcare 14170.59 -114.07 -0.8 S&P BSE Information Technology 10369.08 -36.16 -0.35 S&P BSE Telecom 1571.23 -29.8 -1.86 S&P BSE Utilities 2162.68 28.05 1.31 S&P BSE AUTO 24949.57 -102.25 -0.41 S&P BSE BANKEX 27186.77 -494.76 -1.79 S&P BSE CAPITAL GOODS 17462.07 -60.88 -0.35 S&P BSE CONSUMER DURABLES 18310.38 -104.53 -0.57 S&P BSE METAL 14674.03 -74.48 -0.51 S&P BSE OIL & GAS 16002.81 195.43 1.24 S&P BSE POWER 2269.89 27.17 1.21 S&P BSE REALTY 2169.77 -1.86 -0.09 Source: BSE       Markets at close Index Current Pt. Change % Change   S&P BSE SENSEX 32,584.35 -24.81 -0.08   S&P BSE SENSEX 50 10,598.29 -22.71 -0.21   S&P BSE SENSEX Next 50 34,889.59 -91.23 -0.26   S&P BSE 100 10,612.71 -23.55 -0.22   S&P BSE MidCap 16,115.98 +1.48 +0.01 (Source: BSE) Infosys Q2 preview   In dollar terms, Infosys is likely to report 3.6% sequential and 6.2% year-on-year (yoy) revenue growth at $2,748 million, say analysts at HDFC Securities. In rupee terms, revenues are likely to come in at Rs 17,585 crore. IT major is seen reporting a 2.6 per cent QoQ sequential growth in revenue in constant currency (CC) terms. The numbers may be supported by 95 basis points cross-currency tailwind, they said. The company is scheduled to announce numbers on October 24   Analysts at Kotak Institutional Equities expect CC revenue growth of 2.3% and CC tailwind of 80 bps. We expect lower cross currency tailwinds based on the assumption of lower forex gains from revenue hedges, they said in a note.   The company’s profit after tax (PAT) is expected to come in at around Rs 36,00 crore, up 1.8% yoy, but down 1.5% on a sequential basis, estimated analysts at Motilal Oswal Securities. JM financial sees 2.75 sequential jump in Q2 PAT at Rs 35,78 crore.  

Key benchmark indices opened the day on a negative note and languished in the red till afternoon trade as traders chose to book profits after Indian markets surged earlier in the week to hit record highs.  Indices did, however, trade in positive territory boosted by gains in European bourses but subsequently succumbed to selling pressure. Markets were otherwise dull ahead of a long Diwali weekend. Banking stocks were among the top sectoral losers, with the NiftyPSU Bank index slipping over 2%. The fall in the banking pack was triggered by ...

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First Published: Wed, October 18 2017. 15:40 IST
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Sensex ends Samvat 2073 with 17% gain, Nifty up 18%

Catch all live market action here

Key benchmark indices opened the day on a negative note and languished in the red till afternoon trade as traders chose to book profits after Indian markets surged earlier in the week to hit record highs.  Indices did, however, trade in positive territory boosted by gains in European bourses but subsequently succumbed to selling pressure. Markets were otherwise dull ahead of a long Diwali weekend. Banking stocks were among the top sectoral losers, with the NiftyPSU Bank index slipping over 2%. The fall in the banking pack was triggered by ...

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