BSE Sensex and NSE Nifty closed flat on Tuesday. Photo: Reuters
BSE Sensex and NSE Nifty closed flat on Tuesday. Photo: Reuters

Market Wrap: Sensex, Nifty close flat, banking stocks top gainers

BSE Sensex closed 8.18 points up at 35,216.32, while the Nifty 50 ended 2.30 point higher at 10,717.80. Here are the highlights from the markets

Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 closed flat om Tuesday, erasing early gains after stocks in Europe declined as investors braced themselves for President Donald Trump’s decision on the Iran nuclear deal. Shares opened higher led by ICICI Bank, which rose over 8%, but gains were capped by losses in capital goods and consumer durables sectors. Meanwhile, foreign investors sold shares worth Rs635.24 crore on a net basis, while domestic investors bought equities worth Rs1,037.23 crore on Monday, provisional data showed. Here are the highlights from markets:
08 May 2018, 03:34:00 PM IST

Closing bell

BSE Sensex closed 8.18 points, or 0.02%, up at 35,216.32, while the Nifty 50 ended 2.30 points, or 0.02%, higher at 10,717.80. Among the sectoral indices on BSE, bankex gained most at 1.32% followed by realty 1.06%, finance 0.44% and oil and gas 0.36%. Capital goods fell 0.85%, consumer durables 0.81%, teck 0.55% and IT 0.53%. BSE MidCap was down 0.10%, while SmallCap gained 0.10%. ICICI Bank, SBI, Axis Bank and Power Grid were top gainers, whereas M&M, L&T, IndusInd and Infosys were among the major losers.

08 May 2018, 02:55:00 PM IST

Market update

BSE Sensex traded higher by 9.99 points, or 0.03%, to 35,218.13, while the Nifty 50 edged down 2.65 points, or 0.02%, to 10,712.85.

08 May 2018, 02:52:00 PM IST

Mutual funds log Rs1.4 trillion inflow in April

Investors have pumped Rs1.4 trillion into mutual funds in April, driving the industry asset base to a staggering Rs23.25 trillion, a surge of 9% from the preceding month.In comparison, assets under management (AUM) of the mutual fund industry, comprising 42 players, were at Rs21.36 trillion in March-end, according to the latest update with Association of Mutual Fund in India (Amfi). Read more

08 May 2018, 02:50:00 PM IST

Aditya Birla Capital profit rises 91% in March 2018 quarter

Aditya Birla Capital Ltd shares rose 1.71% to Rs160.60. The company reported a 91 increase in its net March-quarter net profit at Rs208 crore from Rs109 crore a year ago. Consol revenue from operations stood at Rs4,203 crore.

08 May 2018, 01:50:00 PM IST

Market update

BSE Sensex traded lower by 22.74 points, or 0.06%, to 35,185.40, while the Nifty 50 edged down 7.45 points, or 0.07%, to 10,708.05. Among the sectoral indices on BSE, bankex, realty, FMCG, oil and gas led the gains, while capital goods, consumer durables, metal and industrials lost most. BSE MidCap and SmallCap declined 0.30% and 0.05%, respectively. ICICI Bank, SBI, Power Grid and Axis Bank were top gainers, whereas M&M, L&T, IndusInd Bank and Yes Bank were among the major gainers.

08 May 2018, 01:43:00 PM IST

European shares trade higher

European stocks drifted Tuesday following broad advances in Asia, while crude fell as investors braced themselves for President Donald Trump’s decision on the Iran nuclear deal. The dollar edged lower and Treasuries steadied. The Stoxx Europe 600 Index advanced less than 0.05%, the highest in almost 14 weeks. UK’s FTSE 100 Index climbed 0.3% to 7,567.14, the highest in 14 weeks.

08 May 2018, 01:40:00 PM IST

GST, bank balance sheet problems pushed India’s economic growth downward: UN

The Goods and Services Tax (GST) as well as protracted issues of corporate and bank balance sheet problems pushed India’s economic growth downward in 2017 but a gradual recovery is expected and the country’s economy is forecast to grow at 7.2% in 2018, according to a UN report.According to estimates in the UN Economic and Social Commission for Asia and the Pacific’s (ESCAP) flagship publication the Economic and Social Survey of Asia and the Pacific, India’s GDP grew at 6.6% in 2017, down from 7.1% in 2016. Read more

08 May 2018, 01:35:00 PM IST

Alok Industries says two more applications filed objecting liquidation

Alok Industries Ltd said that two more Interlocutory applications were filed with the NCLT objecting to the liquidation. All applications together are been listed for hearing on 11 June.

08 May 2018, 09:26:00 AM IST

Oil prices fall as market awaits US decision on Iran

Oil prices retreated from 3-1/2 year highs on Tuesday as investors waited on an announcement by President Donald Trump on whether the United States will reimpose sanctions on Iran. Should Trump pull the United States out of a multi-nation agreement on Tehran’s nuclear programme, Iranian crude exports could be hit, adding to tightness in the oil market, which is coming back into balance after years of glut.US West Texas Intermediate (WTI) crude futures had dropped 78 cents, or 1.1%, to $69.95 a barrel by 11.50am. They settled above $70 for the first time since November 2014 on Monday. Brent crude futures were down 67 cents, or 0.9%, at $75.50, having jumped 1.7% to settle at $76.17 a barrel in the previous session. (Reuters)

08 May 2018, 11:55:00 AM IST

INOX Leisure shares up 4% after Q4 earnings

Shares of INOX Leisure gained as much as 4.3% to Rs294.85 per share as revenue from operations grows 10% to Rs1,348 crore and net profit stood at Rs57.7 crore for the quarter ended 31 March, up from Rs30 lakh a year ago.

08 May 2018, 11:47:00 AM IST

Quess Corp. shares jump 5%

Quess Corp. Ltd shares rose 5.1% to Rs1,248.95, more than any full-day gain since 11 December, it is it’s highest level since July 2016, from 1,188.90 rupees in the previous session.Trading volume was more than triple the 20-day average for this time of day.

08 May 2018, 11:05:00 AM IST

Market update

BSE Sensex traded higher by 82.79 points, or 0.24%, to 35,290.93, while the Nifty 50 rose 21.25 points, or 0.20%, to 10,736.75.

08 May 2018, 11:03:00 AM IST

Godrej Properties shares rise 5%

Godrej Properties Ltd shares gained as much as 5.41% to Rs897.40 per share after it clocked a turnover of Rs8.09 crore and a volume of 0.91 lakh shares.

08 May 2018, 09:26:00 AM IST

ICICI Bank is candid on numbers but mum on Chanda Kochhar controversy

Repeated questions to Chanda Kochhar on the allegations of conflict of interest involving her and Videocon Industries netted no answers. It seems that the ICICI Bank board has put the episode behind it.

08 May 2018, 10:55:00 AM IST

BEML shares rose 7%

Shares of BEML gained as much as 6.89% to Rs1,138 per share after Tata AIG Life Insurance Co. bought 2,90,079 shares at Rs1,061.76.

08 May 2018, 10:05:00 AM IST

PNB Housing Finance shares decline on block deals

PNB Housing Finance Ltd shares fall nearly 7% to Rs1,280 in their biggest daily percentage loss in over 2 months. Private equity firm Carlyle Group LP’s unit is selling 8 million shares in PNB Housing Finance at a floor price of Rs1,280, or a 6.9% discount to the stock’s Monday close, IFR reports, citing a term sheet. Prior to the sale, Carlyle owned a 37.16% stake in PNB Housing Finance. The stock has risen 2.5% this year up to Monday. (Reuters)

08 May 2018, 10:02:00 AM IST

Trident shares fall as Q4 net profit halves

Shares of Trident Ltd fell as much as 7% to Rs63.75 per share after it’s Q4 net profit was down 49% at Rs50.9 crore against Rs99.7 crore for the same quarter last year. Revenues fell 10.9% to Rs1,182 crore.

08 May 2018, 09:55:00 AM IST

Tata Coffee shares fall 7% as net profit declined in Q4

Shares of Tata Coffee lost as much as 6.96% to Rs124.35 per share after it’s Q4 net profit falls 62% at Rs22.4 crore and revenue at Rs440.4 crore.

08 May 2018, 09:30:00 AM IST

ICICI Bank shares rise 6%

Shares of ICICI Bank jumped as much as 6.35% to Rs307.80 in the opening trade. The bank on Monday reported a net profit of Rs1,020 crore for the three months ended 31 March, compared with Rs2,024.64 crore in the year-ago period. Profit was in line with the Rs1,060.8 crore estimated by a Bloomberg poll of 18 analysts.

08 May 2018, 09:25:00 AM IST

Sensex, Nifty open higher

BSE Sensex traded higher by 118.64 points, or 0.34%, to 35,326.78, while the Nifty 50 rose 15.70 points, or 0.15%, to 10,731.20.

08 May 2018, 09:20:00 AM IST

Rupee opens lower against US dollar

The Indian rupee weakened against the US dollar on Tuesday, tracking losses in Asian currencies. The home currency was trading at 67.17 a dollar, down 0.04% from its Monday’s close of 67.14. It opened at 67.17 a dollar and touched a high and a low of 67.14 and 67.21, respectively.The 10-year bond yield stood at 7.639% compared to its previous close of 7.622%. Bond yields and prices move in opposite directions.

08 May 2018, 09:15:00 AM IST

Asian shares trade higher

Asian stocks traded higher, extending a gradual recovery after declines in recent weeks stoked by concerns about the vulnerabilities of emerging-markets in the face of higher US yields, a stronger dollar and costlier energy prices. Oil is set to remain in focus amid speculation the US may pull out of the Iran deal, escalating tensions in the Middle East and potentially disrupting supplies from that Opec producer.The MSCI Asia Pacific Index rose 0.6%. Topix index advanced 0.5%. Hong Kong’s Hang Seng Index gained 1.2%. Kospi index added 0.4%. Futures on the S&P 500 Index remained little changed after the underlying gauge rose 0.4% on Monday. (Bloomberg)