Nifty ends near day's low, Sensex slips 70 points; midcap down 1.5%

10 May 2018

May 10, 03:31 PM (IST)

The benchmark indices ended at day's low after consolidating in narrow range even as midcap underperforms with 1.5 percent cut.

Among sectors, all indices ended in red except the oil & gas space.

The Sensex was down 73.08 points at 35246.27, and the Nifty down 22 points at 10719.70.

About 783 shares have advanced, 1873 shares declined, and 144 shares are unchanged

May 10, 02:57 PM (IST)

Walmart-Flipkart deal: Bansals may have to pay 30% capital gains tax on sale proceeds

Since Flipkart is an unlisted entity, the deal will attract additional capital gains tax. Long term and short term capital gains tax are levied at 10% and 15% of earnings, respectively, for listed entities.

May 10, 02:53 PM (IST)

The Street is continuing to witness a consolidation phase as benchmark indices are trading flat.

The Nifty is currently trading below 10,750-mark. Midcaps have continued to trade weak, falling over a percent.

Financials, pharmaceutical and metal names have continued to trade in the red.

ONGC and Bharti Airtel are the top gainers, while Dr Reddy’s, Power Grid and Tata Motors are the top losers.

May 10, 02:36 PM (IST)

Blue Dart Express: Muted Q4, tough to justify premium valuation

BlueDart Express reported a muted set of numbers for the last quarter of FY18. The company is facing tough competition as well as minor hiccups in is transition to the Goods & Services Tax and e-way bill era.

May 10, 02:36 PM (IST)

India suggests Aadhaar-like IDs, realtime alert system for financial transactions across BRICS nations

While the BRICS nations have been discussing ways to tackle terrorism for a long time, India has a new suggestion to offer to address the issue.

May 10, 01:33 PM (IST)

VK1 Expressway, wholly owned subsidiary of IRB Infra, has now executed concession agreement with NHAI for the project of eight lane Vadodara Kim Expressway in the state of Gujarat under NHDP Phase- VI on hybrid annuity mode (Phase IA- package

May 10, 12:45 PM (IST)

Benchmark indices have given up all of their gains and are trading marginally lower. The Nifty has managed to trade around 10,700-levels. All sectoral indices are witnessing selling pressure, with deep cuts of over 1 percent seen in Nifty pharma, metals and infra. Midcaps too are trading lower, falling over 1 percent on the Nifty Midcap index. The IT index is also trading flat, with a hint of positive bias. ONGC and Coal India are the top gainers, while Dr Reddy’s Labs, Power Grid and Indiabulls Housing were the top losers.

May 10, 12:28 PM (IST)

May 10, 11:54 AM (IST)

The benchmark indices pared some of its morning gains. The Sensex up 56.48 points at 35375.83, and the Nifty up 8.90 points at 10750.60. About 881 shares have advanced, 1418 shares declined, and 122 shares are unchanged.

BSE Realty index shed 1 percent, dragged by DLF, Godrej Properties, Oberoi Realty.

Top losers include, Power Grid, Dr Reddy’s Labs, Tata Motors, NTPC, Tata Steel, Indiabulls Housing.

May 10, 11:27 AM (IST)

Oil prices clocked up more multi-year highs on Thursday as traders adjusted to the prospects of renewed US sanctions against major crude exporter Iran amid an already tightening market.

The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 which limited Tehran’s nuclear ambitions in exchange for removing US-Europe sanctions.

Oil prices rose sharply in response to the announced measures.

Brent crude futures, the international benchmark for oil prices, hit their strongest since November 2014 above USD 77.80 per barrel.

May 10, 11:20 AM (IST)

Gold Update: Gold prices steadied as the dollar held firm near its 2018 peak on strong US bond yields, with investors also keeping an eye out for any further impact from US President Donald Trump's decision to pull out of a nuclear deal with Iran.

Spot gold was up 0.1 percent at USD 1,313.94 per ounce and US gold futures for June delivery were 0.1 percent higher at USD 1,314.10 per ounce, reported Reuters.

May 10, 11:09 AM (IST)

Buzzing: Share price of Welspun Enterprises rose 4 percent as company emerged as lowest bidder for a project in Tamil Nadu.

National Highways Authority of India (NHAI) has opened the Bid on May 9, 2018 for the above referred project and

The consortium led by the company has emerged as the lowest bidder (L-I) for the project of four laning of Sattanathapuram to Nagapaftinam section of NH-45A in the state of Tamil Nadu. The bid price for the said project is of Rs 1,837.32 crore.

The company board meeting is scheduled to be held on May 10, 2018, to consider and approve the standalone as well as the consolidated audited financial statements of the company for the year ended March 31, 2018.

May 10, 10:22 AM (IST)

JSPL declines 3% as Q4 net loss increases to Rs 424 crore

The company reported a consolidated loss of Rs 424.69 crore for the quarter ended on March 31, 2018 due to higher expenses and finance cost.

May 10, 10:14 AM (IST)

Equity benchmarks are trading mildly off the day’s high points, but the Nifty continues to trade around 10,750-mark. Barring IT names, cuts are visible among all sectoral indices now.

The Sensex is up 72.04 points at 35391.39, while the Nifty is up 11.70 points at 10753.40. The market breadth is narrow as 979 shares advanced, against a decline of 959 shares, while 104 shares were unchanged.

The midcap index, meanwhile, is trading over a third of a percent lower. Bharti Airtel, ONGC, and Tech Mahindra continue to be the top gainers, while Power Grid, Dr Reddy’s Labs and HPCL are the top losers

May 10, 09:51 AM (IST)

Are midcaps losing sheen? Maybe not, here are 15 stocks which rose up to 130% in 1 year

As many as 15 midcaps rose by 50 percent to 136 percent in the last one-year. These include: Jindal Steel & Power, L&T Infotech, Ashok Leyland, Tata Global Beverages, Divi's Laboratories, 3M India, Biocon, Mphasis, Page Industries, Future Retail and Gruh Finance.

May 10, 09:51 AM (IST)

Federal Bank slipped as much as 11.5 percent in the first 15-minutes of trade on Thursday, a day after it reported 43.5 percent year-on-year (YoY) drop in net profit at Rs 145 crore for the March quarter because of an increase in provisions and worsening asset quality.

Net profit in the same quarter last year had shot up 2,400 percent to Rs 256.6 crore due to substantially lower provisions and reduction in non-performing assets (NPAs).

Despite a fall in net profit, some of the brokerage firms remain positive on the stock and maintain their buy rating. However, some of them have reduced their target price post Q4 results.

May 10, 09:37 AM (IST)

Shares of PC Jeweller gained over 6 percent in the morning ahead of the firm’s board meeting to discuss a share buyback.

The stock has been in the news of late for the immense volatility seen and eroding investors’ wealth in the recent times.

It has touched an intraday high of Rs 221.35 and an intraday low of Rs 205.60

May 10, 09:19 AM (IST)

D-Street has begun the trading session on a good note. The Sensex is up over 100 points, while the Nifty is firmly above 10,750-mark.

The Sensex is up 117.29 points at 35436.64, while the Nifty is up 33.30 points at 10775.00. The market breadth is positive as 497 shares advanced, against a decline of 362 shares, while 55 shares are unchanged.

ONGC, Axis Bank, Eicher Motors and Tech Mahindra are the top gainers, with a surge of up to 2 percent among them. On the losing side are IndusInd Bank, Dr Reddy’s Labs and Indian Oil.

In the broader markets, midcaps are continuing to trade lower but strong gain is seen in Nifty IT, up around half a percent.

May 10, 09:17 AM (IST)

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which can give up to 12% return

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 10.5 points or 0.1 percent. Nifty futures were trading around 10,761-level on the Singaporean Exchange.

May 10, 09:10 AM (IST)

Stocks in news:

Cipla partners with MannKind for exclusive marketing, distribution of Afrezza

Va Tech Wabag secures repeat order worth Rs 296 crore from Delhi Jal Board

Welspun Enterprises emerges as lowest bidder (L-I) at bid price of Rs 1,837.32 crore

EID Parry: Company's Q4 net profit down 86.43 percent

Federal Bank: Q4 profit down 44% YoY at Rs 145 cr on jump in provisions, bad loans

Eicher Motors: Flat growth in Q4 net profit at Rs 461.5 crore.

JSPL: Widens net loss to Rs 426.4 crore for the March quarter.

Magma Fincorp posts Q4 net profit at Rs 71.48 crore

The Ministry of Civil Aviation has not approved the Scheme of Merger of Jet Lite (India) with Jet Airways

Avanti Feeds approves stock split in the ratio of 1:2 and issue of bonus shares in 1:2 ratio

May 10, 09:10 AM (IST)

The Indian rupee opened lower by 7 paise at 67.33 per dollar on Thursday versus previous close 67.26.

According to Motilal Oswal, rupee fell to the lowest level in 15-months following surge in global crude oil prices and fund outflows from FIIs in equity and debt segment. This month, fund outflows from the FIIs has been to the tune of USD 1.4billion including equity and debt segment.

On the other hand global crude oil prices rose to the highest level in three years after the US pulled out of an international nuclear deal with Iran.

Market participants will be keenly keeping an eye on crude oil prices as that would be important to determine fresh trigger for the currency. For the day, the USD-INR pair is expected to quote in the range of 67.25 and 67.80, it added.

May 10, 09:02 AM (IST)

The Nifty50 is likely to open in flat to positive note on the back of muted trend seen in global markets.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 4 points. Nifty futures were trading around 10,776-level on the Singapore Exchange.

May 10, 08:49 AM (IST)

What changed for the market while you were sleeping? 10 things you should know

The Nifty formed a bullish candle after forming a bearish candle on the daily candlestick charts on Tuesday. Investors are advised to remain neutral on markets and adopt a stock specific approach.

May 10, 08:33 AM (IST)

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