Sensex Ends 5-Day Losing Streak; Nifty Above 10,100

Sensex Ends 5-Day Losing Streak; Nifty Above 10,100

Share Market news

Share Market News 20-March-2018

The Benchmark indices extended previous days losses as Sensex was down by 100 points & Nifty fell 32 points, amid weak Global cues. The equity market extended gains and recouped all opening losses, as Sensex rose 150 points while Nifty reclaimed 10,150 ahead of US Feds key policy meet starting today. The Midcap also gained half a percent while Nifty IT outperformed market in sectoral indices, was up nearly 1%.

In the afternoon session, the market remained volatile with Sensex hovering around 33,000 levels while Nifty traded above 10,100 as investors looked for cues from two-day US Federal Reserve meeting beginning later in the day. Nifty midcap also traded flat. Technology, Tata Group and select banking & financial stocks supported the market.

In last hour of trade equity benchmark continued to trade higher as Sensex gained over 50 points while Nifty continues to trade above 10,100. The market closed mildly higher amid volatility ahead of US Fed meet. Nifty midcap also closed in green while Nifty IT outperformed, was up by 1.51% Sensex closed 73.64 points up at 32,996.76, Nifty up by 30.10 points at 10,124.35.

Top Gainers

Infratel by 4.96% to Rs.341.50, Tech Mahindra by 3.95% to Rs.634, Eicher Motors by 3.46% to Rs.28,350, Tata Steel by 3.37% to Rs.594.35, Sun Pharma by 2.46% to Rs.509.90.

Top Losers

VEDL by -6.12% to Rs.288.15, IOC by -2.30% to Rs.173.80, ONGC by -1.33 to Rs.174.50, BPCL by -1.10% to Rs.426.00, GAIL by -0.92% to Rs.438.00.

Analysis Of Top Gainer And Loser

Bharti Infratel is the top gainer in today's market as strong buying was seen in the stock.

VEDL is the top loser in today's market after the stock adjusted for interim dividend announced on March 13 of RS.21.20 per share. The record date for the purpose of payment of the first interim dividend to equity shareholders is fixed as March 21.

Key Market News

The US has recently requested dispute settlement consultations with India at the World Trade Organization to challenge Indias export subsidy programmes. A research note by Morgan Stanley says that the basis for the action is that India surpassed the defined economic benchmarks for developing countries with respect to export subsidies in 2015. US President Donald Trump has already threatened China and India with a reciprocal tax or US tariff at levels prevailing in those countries. The US runs a trade deficit of $23 billion with India, but this pales into insignificance compared with its deficit with China, which is $375 billion.

India has scrapped the 20% sugar export tax, a government source said, to help boost overseas sales in a surplus year of production. Last week Reuters reported that India, the world's biggest consumer of sugar, would axe the export tax on the sweetener and then make it compulsory for mills to export 2-3 million tonnes to cut bulging stocks at home.

Stocks To Watch

Reliance Infrastructure Ltd.is on the upside while Gujarat State Petronet Ltd. is on the downside.

Reliance Infra is currently trading at Rs.453.05, up by Rs.28.80 or 6.79% from its previous closing of Rs.424.25 on the NSE. The scrip opened at Rs.422 & has touched a high & low of Rs.456.80 and Rs.420.10 respectively. So far 57,44,461 (NSE) shares were traded on the counter. The current market cap of the company is Rs.11,922.65 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.620.05 on 12-May-2017 & a 52 week low of Rs.390.55 on 15-November-2017.

GSPL is currently trading at Rs.176.90, down by Rs.11.20 or 5.95% from its previous closing of Rs.188.10 on the NSE. The scrip opened at Rs.186.45 & has touched a high and low of Rs.186.45 & Rs.173.65 respectively. So far 28,21,387 (NSE) shares were traded on the counter. The current market cap of the company is Rs.10,005.23 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.235.80 on 22-December-2017 and a 52 week low of Rs.154.75 on 10-July-2017.

 

ABOUT AUTHOR

Niveza Editorial Desk : We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to a pave a smooth road for our clients in the shaky world of stock market. While tracking the mood swings of the market we bring our clients the most rewarding deals.

LEAVE A COMMENT

RECOMMENDED READING

Portfolio Management Service: Outsource Your Investment Worries

The stock advisory service is the best option for you if you want to invest in stock market but don't have adequate knowledge of it. An advisory firm gives you the much-needed hand holding to take the right decisions. Their research reports an
Read More>>

Stock Advisor: For High Growth & Better Risk Management

Stock investment is messy. Yes, there is a big growth potential but if you are doing it on your own and you don't have the experience of fundamental analysis, it can be an uphill task. That is one of the reasons why most of the investors who u
Read More>>

Rupee Tumbles To A New Low; Market Expected To Consolidate

Our Analysis This week, the market consolidated between 11,300 to 11,500 due to lack of positive triggers & consolidation in heavyweights like HDFC, HDFC Bank, Reliance. Indian Rupee de
Read More>>

Free Share Market Tips Today: Stop & Read Before You Invest In Stocks

Various popular stock market news portals and TV channels discuss trending stocks and provide free share market tips based on technical charts and often without in-depth research. Our research desk analyses these trending stock market tips and pro
Read More>>

Value Investing: The Road To Value Picks & Undervalued Stocks

You must have heard many times that Warren Buffett is a value investor. In the Indian context, even Rakesh Jhunjhunwala is referred to as a value investor. It does tell us that these are smart investors but what exactly does value investing me
Read More>>