Market Wrap: Sensex, Nifty close flat ahead of Karnataka election results
BSE Sensex closed 20.92 points up at 35,556.71, while the Nifty 50 ended unchanged at 10,806.60, up 0.10 points. Here are the highlights from the markets
Last Modified: Mon, May 14 2018. 04 59 PM IST
- 3.35 pm ISTClosing bell
- 2.48 pm ISTMarket update
- 2.43 pm ISTCentral Bank of India considers raising Rs8000 crore
- 2 pm ISTRupee, bond prices fall as wholesale price inflation quickens
- 1.50 pm ISTWPI inflation rises to 3.18% in April on costlier fuel, fruits
- 1.10 pm ISTSirca Paints India files for IPO
- 1.03 pm ISTHester Biosciences shares fall 2% after Q4 earnings
- 12.57 pm ISTSouth Indian Bank shares jump 5% as net profit rises in Q4
- 11.45 am ISTMarket update
- 11.40 am ISTJ. B. Chemicals shares fall 2% after USFDA issues two observations
- 11.32 am ISTUco Bank shares down 4% on Q4 losses
- 11.28 am ISTOil prices slip as Opec seen able to offset Iran losses from sanctions
- 10.32 am ISTMarket update
- 10.30 am ISTTata Global Beverage shares down 6%
- 10.27 am ISTPTC India Finance shares slump 11% on Q4 net loss
- 10.20 am ISTSun TV shares gain 7% as net profit rises in Q4
- 9.42 am ISTShares of oil marketing companies trade higher
- 9.37 am ISTDena Bank shares down 7% after RBI prompt corrective action
- 9.30 am ISTSensex, Nifty trade higher
- 9.27 am ISTRupee edges higher against US dollar
- 9.25 am ISTAsian stocks open mixed
- Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 closed flat on Monday as traders are cautious ahead of Karnataka election results.The Indian rupee and bond prices erased all the morning gains and fell for a fourth trading session each as traders awaits key consumer price inflation data due after 5.30pm after wholesale price inflation unexpectedly quickened. According to government data, the wholesale price index (WPI)-based inflation shot up 3.18% in April from a year ago. Here are the latest updates from the markets:
- 3.35 pm IST Closing bellBSE Sensex closed higher by 20.92 points, or 0.06%, to 35,556.71, while the Nifty 50 ended unchanged at 10,806.60, up 0.10 points. BSE MidCap was down 0.88% and SmallCap fell 1%. Fifteen out of 19 sectoral indices on BSE closed lower with consumer durables (2.50%), telecom (1.14%), industrials (0.97%) and auto (0.93%) losing most. Bankex, oil and gas, utilities and healthcare posted gains. NTPC, Dr. Reddy’s Labs, IndusInd Bank and SBI were top gainers, whereas M&M, Tata Motors, Yes Bank and Bharti Airtel were among the major gainers.
- 2 pm IST Rupee, bond prices fall as wholesale price inflation quickensThe Indian rupee and bond prices erased all the morning gains and fell for a fourth trading session each as traders awaits key consumer price inflation data due after 5.30pm on Monday after wholesale price inflation unexpectedly quickened. At 2pm, the home currency was trading at 67.41 against US dollar, down 0.12% from its previous close of 67.32. The currency opened at 66.17 a dollar and touched a low of 67.22. The 10-year bond yield stood at 7.774%, up from its previous close of 7.727%. Bond yields and prices move in opposite directions.
- 1.50 pm IST WPI inflation rises to 3.18% in April on costlier fuel, fruitsInflation based on wholesale prices shot up to 3.18% in April on increasing prices of petrol and diesel as well as fruits and vegetables. The Wholesale Price Index (WPI) based inflation stood at 2.47% in March and 3.85% in April last year. According to government data released on Monday, inflation in food articles was at 0.87% in April 2018, as against a deflation of 0.29% in the preceding month. Deflation in vegetables was 0.89% in April, while in the previous month it was 2.70%. Read more
- 1.03 pm IST Hester Biosciences shares fall 2% after Q4 earningsHester Biosciences Ltd shares declined 1.94% to Rs1592 after the company reported a net profit of Rs9 crore in the March 2018 quarter, up from Rs7.11 crore a year ago. Total revenue rose to Rs37.81 crore in the quarter ended 31 March from Rs35.69 crore a year ago.
- 12.57 pm IST South Indian Bank shares jump 5% as net profit rises in Q4South Indian Bank Ltd shares jumped 5.28% to Rs26.0 after the company’s net profit rises 51% to Rs114 crore in the March 2018 quarter, compared to a profit of Rs75.54 crore last year. Quarterly interest earned stood at Rs1,589 crore in the quarter, up from Rs1,471 crore a year ago. Gross NPAs came in at 3.59% versus 3.40% in the previous quarter. Quarter’s net NPAs recorded at 2.60% compared to 2.35% in the previous quarter.
- 11.45 am IST Market updateBSE Sensex traded lower by 10.19 points, or 0.03%, to 35,525.60, while the Nifty 50 edged down 3.65 points, or 0.03%, to 10,802.85. All the sectoral indices on BSE, except healthcare and oil and gas, traded lower with consumer durables, IT, industrials and auto losing most. BSE MidCap and SmallCap declined 0.66% and 0.51%, respectively. Dr. Reddy’s, Sun Pharma, NTPC and SBI were top gainers, whereas Tata Motors, ICICI Bank, M&M and TCS were among the major losers.
- 11.28 am IST Oil prices slip as Opec seen able to offset Iran losses from sanctionsOil prices held losses below $71 as the Organization of Petroleum Exporting Countries (Opec) signalled it has enough spare capacity to mitigate any impact on markets even if renewed US sanctions on Iran curbs exports from the group’s third-largest producer. Futures in New York fell as much as 0.5% after sliding 0.9% Friday. Three members of the Opec—Saudi Arabia, Kuwait and the United Arab Emirates (UAE)—together have enough capacity to act as a cushion, the UAE energy minister said. Read more
- 10.30 am IST Tata Global Beverage shares down 6%Tata Global Beverage Ltd shares fell 6% to Rs272.15 after the company reported lower then expected earnings. The firm reported a 22% increase in consolidated net profit at Rs557 crore for the quarter ending 31 March. Revenue from operations increased by 4% in constant currency on a comparable basis for the quarter, after excluding the impact of sale and restructuring of the group’s business.
- 9.37 am IST Dena Bank shares down 7% after RBI prompt corrective actionDena Bank shares fell 7% to Rs 17 after Reserve Bank of India on Saturday directed the lender not to issue any fresh loans and hire new personnel.
- 9.27 am IST Rupee edges higher against US dollarThe Indian rupee on Monday strengthened marginally against the US dollar as traders await key election results and inflation data. The home currency was trading at 67.30 against US dollar, up 0.02% from its previous close of 67.32. The currency opened at 66.17 a dollar. The 10-year bond yield stood at 7.709%, up from its previous close of 7.727%. Bond yields and prices move in opposite directions.
- 9.25 am IST Asian stocks open mixedAsian stocks had a mixed start to trading, with equities advanced in Japan and Hong Kong, were little changed in South Korea and slipped in Singapore. The MSCI Asia Pacific Index rose 0.5%. Topix index rose 0.3%. Hong Kong’s Hang Seng Index rose 1.3%. Kospi index fell 0.1%. Futures on the S&P 500 Index rose 0.3%. (Bloomberg)
First Published: Mon, May 14 2018. 09 34 AM IST