Monday, May 14, 2018

MARKETS ON MONDAY: Sensex, Nifty end flat ahead of Karnataka poll outcome

The ended flat ahead of Karnataka election outcome, which will be known on Tuesday.

The S&P settled at 35,557 up 21 points while the braoder Nifty50 index ended at 10,806, up 0 points

Meanwhile, of mid-and small-cap companies were under pressure with 68 from these hitting their respective 52-week lows on the in intra-day trade on Monday.

Dena Bank, Oriental Bank of Commerce, IDFC Bank, IFCI and UCO Bank from the banks and financials, Anant Raj Industries, Atlanta, Housing Development and Infrastructure (HDIL), Hindustan Construction Company (HCC), Patel Engineering and Punj Lloyd from the construction and infrastructure sector hit 52-week low.

In key results, Abbott India, Hindustan Unilever, Dr. Lal PathLabs, Britannia Industries, Lupin, Hindalco, ITC, Tata Steel, Bajaj Finance and Bajaj Auto are likely to announce their March 2018 quarter earnings later this week.


The rate of Wholesale Price Index (WPI)-based inflation hit a four-month high in April, as food inflation beat deflationary trends from the month before and energy prices saw a sudden rise. According to official data released on Monday, the WPI rose to 3.18 per cent in April, up from the 2.47 per cent rise seen in March and the 3.85 per cent rise in April last year. The inflation data for February was revised upwards to 2.74 per cent from the provisional estimate of 2.48 per cent.


Prospects of a thaw in US-China trade tensions supported global on Monday, as US President Donald Trump pledged to help ZTE Corp “get back into business, fast” after a US ban crippled the Chinese technology company, while oil prices retreated from highs.

The MSCI world equity was up 0.1%, holding at its highest level in seven weeks. European were broadly flat as energy stocks and financials weighed.

Stocks in Asia were also upbeat. MSCI’s broadest index of Asia-Pacific outside Japan rose 0.5%, while Japan’s Nikkei also tacked on 0.5%. Shanghai’s SSE Composite index rose 0.3% while the blue-chip rallied 0.9%. Hong Kong’s Hang Seng index climbed 1.4%.

(with Reuters inputs)

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