Markets Live: Sensex ends marginally lower; Tata Motors, ICICI Bank skid 2%

Closing bell

The Sensex ended lower by 43.13 points or 0.12 per cent at 34,906.11 and the Nifty down 18.95 points or 0.18 per cent at 10,614.35.

Trading sentiment was dampened as political crisis in Italy and renewed trade war fears sent world stocks lower for the sixth day in a row. Also, traders remained wary ahead of release of F&O expiry on Thursday.

The cut in India’s 2018 GDP growth forecast by Moody’s also affected the sentiment, brokers said.

Top five Sensex gainers were M&M, Coal India, YES Bank, Kotak Bank and HUL, while the major losers were Tata Motors, ICICI Bank, Bajaj Auto, Axis Bank and L&T.

 

Among BSE sectoral indices, healthcare fell the most followed by infrastructure, capital goods and oil & gas. On the other hand, power, metal and bank indices remained investors' favourite.

 

Global markets

 

Italy's political crisis and renewed trade war fears sent world stocks lower for the sixth day in a row, though hopes that Italy could avoid a new election helped European markets stage a mini-bounce from one of their worst sell-offs in years. Click here to read more

Bullion prices

 

 Halting a three-day slide, gold prices rebounded by Rs 230 to reach Rs 32,090 per 10 grams. However, silver remained under selling pressure and lost another Rs 200 to Rs 40,700 per kg. More on this

NCLAT hearing in Bhushan Steel case

 

The company law appellate tribunal today asked Tata Steel if it will clear the statutory dues like income tax and GST of Bhushan Steel, a company it had  acquired in the insolvency proceedings earlier this month . Read more

Fortis board meet deferred

 

The meeting of the Fortis board of directors scheduled on Wednesday to consider and approve the audited financial results for the fourth quarter and financial year 2017-18 has been deferred to June 11. Read more

Domestic indices were trading marginally lower as traders remained cautious ahead of GDP data and F&O expiry on Thursday. Also, weak global cues owing to political turmoil in Italy and concerns over Sino-US trade conflict dampened the domestic sentiment.

The Sensex was down 45.14 points or 0.13 per cent at 34,904.10 and the Nifty down 14.95 points or 0.14 per cent at 10,618.35.

Top five Sensex gainers were M&M, Coal India, PowerGrid, Kotak Bank and YES Bank, while the major losers were ICICI Bank, Tata Motors, HDFC, Axis Bank and Dr Reddy's.

 

Barring power, metal and auto, all other BSE sectoral indices were trading in the red.

 

 

As per provisional data, foreign portfolio investors had sold shares worth Rs 407.33 crore, while domestic institutional investors bought shares worth Rs 578.38 crore yesterday.

Q4, FY18 GDP growth forecast

 

Indian economy is likely to grow between 7.1-7.6 per cent during January-March quarter of financial year 20171-18. If it happens, then the annual growth rate will be over 6.6 per cent projected earlier. Click here to read more

Torrent Power hits near 11-week high

 

Shares of Torrent Power hit near 11-week high on March-quarter results. The stock climbed as much as 5.1 per cent to Rs 254.5, highest since March 16.  Click here to read more

IOC trims earlier losses

 

IOC shares cut losses marginally after the company said that auto fuel prices were each cut by just one paisa a litre. Click here to read more

PowerGrid jumps 2.4%

 

Shares of Power Grid Corp of India Ltd rose as much as 2.4 per cent to Rs 211.95, their biggest intraday percentage gain in over 2 weeks, on March-quarter results. More on this

Bank Nifty

 

The Bank Nifty Futures May contract fell by 374 points on Tuesday and closed at 26,167 levels. The contract is trading at a discount to its underlying Bank Nifty index, which fell about 359 points to close at 26,254.  Click here to read more

NSEL money laundering probe

 

The Enforcement Directorate today conducted fresh raids in five states in connection with the NSEL money laundering case. Click here to read more

The Sensex and Nifty were trading flat as investors stayed on the sidelines ahead of May F&O expiry on Thursday. Also, weak global cues due to political turmoil in Italy and US-China trade tensions dampened the domestic sentiment.

The BSE index was up 40.04 points or 0.11 per cent at 34,989.28 and the NSE index up 12.95 points or 0.03 per cent at 10,636.15.

“This is a spillover from fall in global markets due to political situation in Italy. With crude prices falling and rupee firming, domestically, things have improved. But globally, the picture is still uncertain around Europe,” said Neeraj Dewan, Director at Quantum Securities.

Among BSE sectoral indices, capital goods, healthcare, consumer durables and oil & gas succumbed to selling pressure, while power, PSU and IT found investors' support.

 

Top five Sensex gainers were M&M, Coal India, PowerGrid, YES Bank and Kotak Bank, while the major losers were ICICI Bank, Tata Motors, Axis Bank, Dr Reddy's and Bharti Airtel.

 

Nifty 50 May Futures (10,575)

 

Short-term traders with a high risk appetite can go long at current levels. Stop-loss can be placed at 10,560 for the target of 10,605. Revise the stop-loss higher to 10,580 as soon as the contract moves up to 10,595. Click here to read more

Gold edges up on Italy crisis

 

Spot gold was 0.1 per cent higher at $1,298.86 per ounce by 0349 GMT. US gold futures for June delivery were nearly unchanged at $1,298.80 per ounce. Click here to read more

AirAsia nosedives to 6-month low

 

Shares of budget carrier AirAsia fell to a six-month low as the Central Bureau of Investigation has registered a case against Air Asia Group CEO Tony Fernandes and others over alleged violation of norms for getting international flying licences. Click here to read more

Manpasand hits lower circuit limit

 

Shares of Manpasand Beverages plunged 10 per cent to hit their lower circuit limit for the third consecutive session today on account of the resignation of its auditing firm with effect from May 26, 2018. Click here to read more

Bharat Electronics slumps 4.4%

 

Shares of Bharat Electronics fell on weak March-quarter results. The stock fell as much as 4.4 per cent to Rs 117.35, its biggest intraday percentage decline since May 16. More on this

Rushil Décor board has decided/approved to issue 47,000 equity shares of ₹10 each at an issue price of ₹865 per share, including premium of ₹855, to non-promoters Manish Shailendra Srivastava and Forum Nilesh Parekh. More on this

TCS to turn ex-bonus

 

Shares of Tata Consultancy Services will turn ex-bonus on Thursday. TCS announced a 1:1 bonus for its shareholders on its 50th anniversary even as its brand value crossed $10 billion. Read more

Tech Mahindra: Ahead of expectations

 

The stock has risen nearly 16 per cent in the last month and a half. The company recorded a 2.9 per cent increase in revenues sequentially and 27.9 per cent rise in net profits in dollar terms during the March quarter.  Click here to read more

The Sensex was trading down by over 160 points on sustained foreign funds outflows, weak trend in other Asian markets and overnight losses at the Wall Street, rattled by renewed concerns of a possible China-US trade war and political uncertainty in Italy.

Also, investors remained cautious ahead of the May derivatives expiry tomorrow.

The BSE index was down 165.11 points or 0.47 per cent at 34,784.13 and the NSE index down 65.6 points or 0.53 per cent at 10,576.90.

Barring power, all other BSE sectoral indices were trading in the red.

 

 

Major Sensex gainers were Coal India, M&M, PowerGrid, NTPC and YES Bank, while the major losers were ICICI Bank, Tata Motors, Wipro, State Bank of India and HDFC.

 

Glenmark drops to over 3-month low

 

Glenmark Pharmaceuticals dropped the most in over 3 months. The stock fell nearly 5 per cent to Rs 505.5, its lowest since May 22. Read more

OMC shares slump

 

Shares of oil marketing firms like Indian Oil Corporation Ltd, Bharat Petroleum Corporation and Hindustan Petroleum Corporation fell as much as 2.1 per cent to 3.3 per cent. More on this

Fortis Healthcare jumps 3%

 

Shares of Fortis Healthcare Ltd rose as much as 2.95 per cent to Rs 148.20, in its sharpest intraday gain in over a week, as the healthcare chain has launched a new bidding process. Read more

PSU bank staff on 2-day strike

 

Banking activities in public sector banks across the country have been interrupted as employees have gone on a two-day nation-wide strike against the meagre 2 per cent salary hike offered by the Indian Banks Association. Click here to read more

Monsoon update

 

On the second day of onset, the monsoon has covered the entire Lakshadweep, most parts of Kerala, some parts of Tamil Nadu, and advanced further into the Bay of Bengal. Click here to read more

Petrol, diesel prices cut

 

After 16 days of relentless price hikes, petrol price was today cut by about 60 paise a litre and diesel by 56 paise on the back of softening international oil rates and strengthening Indian rupee. Click here to read more

The Sensex was trading down by over 130 points, in line with weak global cues owing to fresh concerns over a possible China-US trade war. Unabated foreign fund outflows and profit-booking by retail investors too dampened the sentiment. There was caution among investors ahead of the May month derivatives expiry tomorrow.

Brokers said sustained foreign fund outflows, weak trend in other Asian markets and overnight losses at the Wall Street, rattled by renewed concerns of a possible China-US trade war and political uncertainty in Italy, mainly triggered selling at the domestic market.

The BSE index was down 135.72 points or 0.39 per cent at 34,813.52 and the NSE index down 44.15 points or 0.42 per cent at 10,589.15.

 

Top five Sensex gainers were Coal India, M&M, PowerGrid, NTPC and Infosys, while the major losers were ICICI Bank, Adani Ports, Tata Motors, Hero MotoCorp and Wipro.

Among BSE sectoral indices, oil & gas, capital goods, banking and consumer durables succumbed to selling pressure, while only power and IT indices found investors' support.

 

Broker's call

JMC Projects (Buy)

CMP: ₹679.75

Target: ₹732

Click here to read more

SGX exploring options to set up GIFT Cit y

 

SGX is likely to turn to the NSE to set up operations in Gujarat’s GIFT City. Apart from engaging in talks with the BSE and Metropolitan Stock Exchange, SGX may also explore if regulations allow a foreign exchange to set up base in GIFT City on its own. Click here to read more

Singapore authority urges SGX, NSE to settle dispute

 

The Monetary Authority of Singapore has urged the SGX and the NSE to come up with an amicable solution to the ongoing dispute over Nifty-based products. Click here to read more

Asian markets

 

Asian shares extended a global sell-off as Italy's political crisis provoked a heavy retreat on Wall Street, sent the euro to a 10-month low and pushed up borrowing costs for the government in Rome. Click here to read more

Day Trading Guide

₹2032 • HDFC Bank

 

₹1216 • Infosys

 

₹273 • ITC

 

Click here to view the full guide

 

The 30-share BSE index Sensex opened lower by 176.59 points at 34,772.65 against 34,949.24 and the 50-share NSE index Nifty down 60.8 points at 10,572.50 against 10,633.30.

Today's stock pick

Globus Spirits (₹138.8): Buy

 

Investors with a short-term horizon can buy the stock of Globus Spirits at current levels. Recording a 52-week high at ₹178 in early January this year, the stock changed direction and was on a medium-term downtrend until it found support at ₹114 in late March. Click here to read more