Indices end higher on Friday but Nifty fails to hold 10500 mark


Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017, on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank.

Sentiment was also upbeat after retail inflation eased to a five-month low in March, but remained above the central bank’s medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June.

Investors now await January-March corporate results for future direction. IT Major Infosys will kick-start the March-quarter results season later in the day.

The S&P BSE Sensex ended at 34,193, up 92 points while the broader Nifty50 index settled at 10,481, up 22 points.

KPIT Technologies  rose for a third straight session, quoting at Rs 230.5, up 1.86% on the day as on the NSE. KPIT Technologies is up 79.24% in last one year as compared to a 14.96% gain in Nifty and a 33.16% gain in the Nifty IT index.

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Sensex ends FY18 with 11% gain; investors richer by Rs 20.70 trillion


The benchmark BSE Sensex slumped 206 points in a see-saw trade on Wednesday to close below the 33,000-mark in the last trading session of 2017-18, but finished the year with a gain of 11.30 %.

The broader 50-share Nifty also ended 70 points lower at 10,113.70. The Sensex has gained 3,348.18 points, or 11.30 %, in 2017-18. The index had gained 16.88 % in the previous fiscal year.

Investors saw wealth addition of Rs 20.70 trillion during 2017-18. The market capitalisation of all firms listed on the BSE was at Rs 142.24 trillion against Rs 121.54 trillion as on March 31, 2017.

The broader Nifty closed the fiscal year with gains of 939.95 points, or 10.25 %. During the previous year, it scored gains of 1,435.55 points or 18.55 %.

For the day, the BSE Sensex snapped its two-session winning streak to end lower by 205.71 points, or 0.62 % at 32,968.68. Intra-day, it hovered between 33,104.11 and 32,917.66. The gauge had rallied 577.85 points in the past two sessions. The NSE Nifty, too, ended the day 70.45 points, or 0.69 % lower at 10,113.70 after shuttling between 10,158.35 and 10,096.90.

On a weekly basis, the Sensex rose 372.14 points, or 1.14 %, while the Nifty gained 115.65 points or 1.16 %. This was their first gain in five weeks.

Stock exchanges will remain closed on Thursday and Friday on account of Mahavir Jayanti and Good Friday, respectively.

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Stocks slide to 5-month lows, Nifty ends below 10,000 on trade war fears


The BSE Sensex plunged by about 410 points to close at a five-month low while the broader Nifty crashed below the 10,000 mark for the first time this year following a global sell-off due to fears of a trade war as US President Donald Trump announced tariffs on Chinese goods.

The 30-share Sensex tumbled by 409.73 points or 1.24 per cent to close at a five-month low of 32,596.54, a level last seen on October 23 last year.

The 50-issue Nifty ended below the psychological 10,000-level by dropping 116.70 points or 1.15 per cent to 9,998.05, the lowest closing level in five months. The level was last seen on October 11 last year, when it had closed at 9,984.80.

Investors lost around Rs 1.57 trillion in market valuation on Friday.

For the fourth straight week, the flagship Sensex recorded a fall of 579.46 points, or 1.75 per cent, while the NSE Nifty lost 197.10 points, or 1.93 per cent.

Realty, metal, bankex, capital goods, healthcare, PSU, auto and oil & gas stocks recorded widespread losses.

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Indices end flat, Nifty settles at 10,227 levels; PSU banks, metals lose


The domestic indices ended largely flat on Friday taking cues from their Asian counterparts.

Among sectoral indices, the Nifty PSU Bank index ended 1.81% lower led by a fall in the shares of Canara Bank, IDBI Bank and Oriental Bank of Commerce. The Nifty Metal index too ended 1.81% down due to a fall in shares of Steel Authority of India Limited, Jindal Steel & Power and Tata Steel.

The Reserve Bank may provide four quarters to Punjab National Bank (PNB) for making provisions against the country’s biggest ever banking fraud of Rs 127 billion allegedly masterminded by billionaire diamantaire Nirav Modi. The bank has written a letter to the banking sector regulator seeking its opinion on making provisions for the fraud, sources said.

The S&P BSE Sensex ended at 33,307, down 44 points while the broader Nifty50 index settled at 10.227, down 16 points

Shares of steel companies were under pressure with Tata Steel, Jindal Steel & Power (JSPL) and Steel Authority of India (SAIL) down more than 4% on the National Stock Exchange (NSE) after US President Donald Trump imposed tariffs of 10% and 25% on imports of steel and aluminium respectively on March 8th. Meanwhile, Tata Steel slipped nearly six-month low at Rs 607, down 4% on the BSE in intra-day trade, extending its past two days 4% decline after the company on Wednesday said that it has emerged as the top bidder for debt-laden Bhushan Steel.

State-owned power equipment major Bharat Heavy Electricals Limited (BHEL) on Friday said it has won Rs 117-billion order for setting up a 3×800 Mw thermal power plant in Jharkhand.  Shares of BHEL were trading 1.34 per cent higher at Rs 87.15 on the BSE.

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