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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Sensex tanks 2.5%, down 839 pts, Nifty ends below 10,800 on Budget woes


Benchmark indices tumbled on Friday as the long-term capital gains tax on equities investments dampened sentiment, while bonds slid for a second consecutive session on worries the central bank would become more hawkish on inflation.

The weak sentiment came a day after the government unveiled its budget for the year starting in April that raised spending for rural sectors and healthcare, widening the fiscal deficit target to 3.3% of gross domestic product from the previous 3.0%. The government also unveiled a 10 percent tax on long-term capital gains in equity markets.

Investors worried that higher spending and the government’s move to raise minimum support prices for crops could lead to higher retail prices at a time when consumer price inflation has already hit a 17-month high of 5.21%, well above the Reserve Bank of India’s target of 4%.

BHEL, Bajaj Auto, Bajaj Finance and Tata Power lost the most on both indices, while TCS, Wipro, Tech Mahindra, and HCL Tech were the top gainers.

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Sensex snaps 6-day gains, falls 111 pts; Nifty ends Jan series above 11,000, up 6%


Benchmark indices fell on Thursday, snapping a six-day record-setting rally, as profit-taking hit IT stocks while large state-run lenders slid as they stood to receive less money than expected from a government recapitalisation plan.

The S&P BSE Sensex ended at 36,050, up 111 points while the broader Nifty50 index settled at 11,069, up 16 points.

The government’s Rs 881.39 billion capital infusion in struggling public sector banks should help in part to mitigate risks but resolution of bad assets and continued high credit costs hinder the sector’s near-term performance, Fitch Ratings said on Thursday. While the capital infusion plan was less than half of its estimate of $65 billion needed for the sector, Fitch said yesterday’s announcement will encourage banks to resolve their non-performing loan (NPL) stock faster as improved capital buffers bolster their ability to absorb potential large haircuts.

Jindal Saw dipped 8% to Rs 154, extending Wednesday’s 4% decline on BSE after the company reported 19% growth in net profit at Rs 963 million for the quarter ended December 2017 (Q3FY18). It had a profit of Rs 807 million in the same quarter last fiscal. Total income increased 49% to Rs 21,807 million from Rs 14,666 million in the corresponding quarter of previous year.

Dr. Reddy’s Laboratories Ltd posted a 38.5 percent slump in quarterly net profit as sales declined due to pricing pressure in the United States, its biggest market. Net profit was Rs 3.03 billion ($47.7 million) in the third quarter ended December 31, compared with Rs 4.92 billion a year earlier, the company said.

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Have Markets overcome the Brexit hangover?


On Friday, July 1, 2016, Shriram City was the most active stock on Bombay Stock Exchange after multiple block deals. Mahanagar Gas, L&T, Sun Pharma, ITC, SBI and Axis Bank were other most active shares on exchanges.

The Sensex closes up 145.19 points or 0.5 percent at 27144.91, and the Nifty was up 40.60 points or 0.5 percent at 8328.35. About 1559 shares have advanced, 1157 shares declined, and 139 shares are unchanged. ONGC, BHEL, L&T, GAIL and Dr Reddy’s were top gainers while TCS, Coal India, Adani Ports and HDFC were losers.

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The week ended June 10, 2016


The selling pressure continued for second consecutive session on Friday, tracking weakness in global peers again and further profit booking in banks, auto, FMCG and metals stocks. The 30-share BSE Sensex fell 127.71 points to 26635.75 and the 50-share NSE Nifty slipped 33.55 points to 8170.05. The broader markets also caught in bears’ grip with the BSE Midcap and Smallcap indices falling 0.2-0.4 percent. Experts feel the consolidation may continue in near term and says any sharp fall will be buying opportunity as they are bullish on India.

Next week will be very important globally as Federal Reserve will be holding a two day meeting that will start on June 14. After the recent speech by Fed Chairperson Janet Yellen, experts believe that there won’t be a rate hike in June policy but the commentary will be key to watch out for.

Here are some picks from the week gone by.

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