GST revenue collection in April tops Rs1 trillion, but too early to celebrate https://t.co/Gmy1iZE52x— Livemint (@livemint) May 2, 2018
Market Wrap: Sensex closes flat, Nifty ends at 10,718, metal, PSU bank stocks fall
BSE Sensex closed 16.06 points up at 35,176.42, while the Nifty 50 ended 21.30 points lower at 10,718.05. Here are the highlights from the markets
Last Modified: Wed, May 02 2018. 04 52 PM IST
- 3.34 pm ISTClosing bell
- 2.50 pm ISTMarket update
- 2.45 pm ISTBond yields fall after RBI raises FII cap
- 2.43 pm ISTRupee trades flat against US dollar
- 2.35 pm ISTEuropean stock markets diverge at open
- 1.18 pm ISTSensex, Nifty trade higher
- 1.15 pm ISTAshok Leyland April sales jump 79%
- 1.10 pm ISTStrides Shasun unit gets USFDA nod
- 1.05 pm ISTIndia factory PMI rises in April on strong domestic demand
- 1.03 pm ISTCipla gets USFDA nod for generic equivalents of Vazculep, Aromasin
- 11.18 am ISTMarket update
- 11.15 am ISTInterGlobe Aviation shares fall 4% on report of Sebi probe
- 11.13 am ISTFortis Healthcare shares gain over 4% on new offer
- 11.05 am ISTGST revenue collection in April tops Rs1 trillion, but too early to celebrate
- 10.13 am ISTMarket update
- 10.10 am ISTTata Motors, Maurti Suzuki shares rise on strong April sales
- 10.05 am ISTKotak Bank shares gain 2%
- 10.03 am ISTHCL Technologies shares down nearly 2%
- 9.25 am ISTSensex, Nifty trade higher
- 9.23 am ISTRupee trades flat against US dollar
- 9.20 am ISTAsian shares trade lower
- Mumbai: BSE Sensex closed little changed, while NSE Nifty settled 21 points lower dragged by metal and PSU bank stocks, offsetting gains in auto stocks. Sentiment across the global equity markets was muted as investors await the US Federal Reserve’s policy decision later in the day. Economists have penciled in three gradual interest rate hikes this year, but the Fed has signalled in March the path of future rate hikes could be “slightly steeper” over the next few years than previously thought, Reuters reported. Here are the highlights from the markets:
- 3.34 pm IST Closing bellBSE Sensex closed higher by 16.06 points, or 0.05%, to 35,176.42, while the Nifty 50 fell 21.30 points, or 0.20%, to close at 10,718.05. All the sectoral indices on BSE, except energy and finance, ended lower, with metal, basic materials, consumer durables and realty losing most. On NSE, Nifty PSU Bank fell 2.49%. BSE MidCap and SmallCap declined 1.17% and 1.15%, respectively. Kotak Bank, ITC, Asian Paints and HDFC were top gainers, whereas Tata Steel, ICICI Bank, Hindustan Unilever and Sun Pharma were among the major losers.
- 2.45 pm IST Bond yields fall after RBI raises FII capBond yields fell after the Reserve Bank of India on Friday scrapped the residual maturity requirement for purchases by overseas investors of three years, and raised the cap for foreign ownership of any government security to 30% from 20%. The yield on bonds maturing in 2021 slumped 10 basis points to 7.47%, while that on notes due in 2022 slipped six basis points to 7.72%. Yields on 10-year government bond stood at 7.735% from its previous close of 7.767%. Bond yields and prices move in opposite directions.
- 2.43 pm IST Rupee trades flat against US dollarThe Indian rupee was trading little changed against US dollar ahead of the outcome of US Federal Reserve’s two-day policy meeting due later on Wednesday. The home currency was trading at 66.67 against US dollar, down 0.01% from its Friday’s close of 66.66. The rupee opened and touched a low of 66.78 a dollar. Markets were closed on Monday and Tuesday due to holidays.
- 2.35 pm IST European stock markets diverge at openEurope’s main stock markets diverged at the start of trading on Wednesday, with Frankfurt and Paris reopening following May Day closures. London’s benchmark FTSE 100 index won 0.3% to 7,541.12 points. In the eurozone, Frankfurt’s DAX 30 was flat at 12,610.78 points and the Paris CAC 40 fell 0.2% to 5,511.46 compared with Monday’s closing levels.
- 1.15 pm IST Ashok Leyland April sales jump 79%Ashok Leyland Ltd reported a 78.8% jump in total sales at 12,677 units in April, compared to 7,090 units in the same month last year. Sales of medium and heavy commercial vehicles surged by 97.88% at 8,968 units in April as against 4,532 units in the year-ago period. The company’s shares were down 1.70% to Rs161.65.
- 1.10 pm IST Strides Shasun unit gets USFDA nodStrides Shasun Ltd said that its unit Strides Pharma Global Pte. Ltd has received final approval for cinacalcet hydrochloride tablets, 30 mg (base), 60 mg (base), and 90 mg (base) from the USFDA. Cinacalcet hydrochloride tablets is a generic version of Sensipar tablets of Amgen Inc. Shares were trading 0.08% down at Rs635.75.
- 1.05 pm IST India factory PMI rises in April on strong domestic demandIndian factory growth accelerated in April on strong domestic demand and output, a business survey showed on Wednesday, while price pressures were subdued in a comforting sign for the central bank as it seeks to temper inflation without hurting the economy.The Nikkei Manufacturing Purchasing Managers’ Index (PMI), compiled by IHS Markit, rose to 51.6 last month from March’s 51.0, as predicted by a Reuters poll and above the 50-point mark that separates growth from contraction for a ninth straight month.
- 1.03 pm IST Cipla gets USFDA nod for generic equivalents of Vazculep, AromasinDrug major Cipla has received final approval from the US health regulator for generic equivalent of Avadel’s Vazculep, West Ward Pharm Corp’s Phenylephrine Hydrochloride injection and Pfizer’s Aromasin. Shares of Cipla were trading 2.03 per cent up at Rs618.95 on BSE.
- 11.18 am IST Market updateBSE Sensex traded higher by 44.09 points, or 0.13%, to 35,204, while the Nifty 50 edged up 2.65 points, or 0.02%, to 10,742. Among the sectoral indices on BSE, energy, realty, auto and power traded higher. while metal, IT, teck and consumer durables declined. BSE MidCap was down 0.25% and SmallCap edged up 0.05%. Kotak Bank, Bajaj Auto, Reliance Industries and Tata Motors were top gainers, whereas ICICI Bank, IndusInd Bank, SBI and Yes Bank were among the major losers.
- 11.15 am IST InterGlobe Aviation shares fall 4% on report of Sebi probeInterGlobe Aviation Ltd fell 4% to Rs 1354 after Bloomberg reported that Securities Exchange Board of India is examining the cause for the worst drop in seven months in InterGlobe Aviation’s shares before the operator of the nation’s largest airline announced the resignation of its president.
- 11.13 am IST Fortis Healthcare shares gain over 4% on new offerFortis Healthcare Ltd rose 4.25% to Rs158.65 after IHH Healthcare Bhd and a group led by businessman Sunil Munjal, have sweetened their offers for the assets of troubled Fortis Healthcare Ltd ahead of the Tuesday deadline for submitting binding offers.
- 11.05 am IST GST revenue collection in April tops Rs1 trillion, but too early to celebrateOdds are, though the e-way bill mechanism would keep compliance higher in April, this kind of a GST revenue collection performance may not be repeated in the near-term
- 10.10 am IST Tata Motors, Maurti Suzuki shares rise on strong April salesTata Motors Ltd shares rose 3% to Rs350 after the company said its sales grew 86% to 53,511 units. Maruti Suzuki India Ltd shares gained 1.7% to Rs 8970.05 after the company reported 14.4% increase in total sales at 1,72,986 units in April against 1,51,215 units in the year-ago month.
- 10.03 am IST HCL Technologies shares down nearly 2%HCL Technologies Ltd shares fell 1.7% to Rs1,039. The company reported a net profit of Rs2,227 crore, a growth of 1.5% compared to the December quarter. Sales in dollar terms rose 2.5% to $2,038 million, also higher than the $1,988 million estimate. Earnings before interest and tax rose 2.9% to Rs 2,583 crore, while Ebit margins remained unchanged at 19.6%.
- 9.23 am IST Rupee trades flat against US dollarThe Indian rupee opened weaker, but soon rebounded and was trading little changed against US dollar on Wednesday ahead of the outcome of US Federal Reserve’s two-day policy meeting. The rupee was trading at 66.68 against US dollar, down 0.03% from its Friday’s close of 66.76. The rupee opened at 66.78 and touched a low of at 66.78 a dollar. Markets were closed on Monday and Tuesday due to holidays.Bond yields fell after the Reserve Bank of India on Friday scrapped the residual maturity requirement for purchases by overseas investors of three years, and raised the cap for foreign ownership of any government security to 30% from 20%.Yields on 10-year government bond stood at 7.72% from its previous close of 7.767%. Bond yields and prices move in opposite directions.
- 9.20 am IST Asian shares trade lowerMost Asian stocks fell as trading resumed in several key markets after holidays, while the dollar steadied close to a near four-month high. MSCI Asia Pacific Index fell 0.2%. Hang Seng was down 0.4%. Shanghai Composite Index climbed 0.2%. Topix index dipped 0.3% in Tokyo. Market focus Wednesday is likely to turn to the Federal Reserve meeting. Investors will watch closely for any signals that policy makers will raise interest rates another three times this year. Later in the week, there’s the US payrolls report. (Bloomberg)
First Published: Wed, May 02 2018. 09 27 AM IST
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