MARKETS LIVE: Sensex down 200 points, Nifty below 11,050 on global cues

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SI Reporter  |  New Delhi 

Photo: Shutterstock
Photo: Shutterstock

LIC Housing likely to see its profitability stabilising from March quarter   LIC Housing Finance has missed the Street expectation by a reasonable margin in two successive quarters. The December quarter results were more disappointing, with its net interest income dropping by about 2% year-on-year to Rs 9 billion. It led to another quarter of pronounced margin compression. However, the successive quarters of disappointment are well captured in LIC Housing’s stock price, which has corrected by about 30% from its 52-week high of Rs 794 recorded in June 2017. READ MORE Markets check Index Current Pt. Change % Change   S&P BSE SENSEX 36,111.77 -171.48 -0.47   S&P BSE SENSEX 50 11,549.72 -55.04 -0.47   S&P BSE SENSEX Next 50 36,396.97 -225.09 -0.61   S&P BSE 100 11,484.01 -57.39 -0.50   S&P BSE Bharat 22 Index 3,849.09 -8.30 -0.22 (Source: BSE) VIX signalling any correction could be steep; Nifty continues to ride up   The Nifty continues to ride up, driven by the usual pre-Budget optimism. All three segments of players - domestic institutions, retail investors/ traders and foreign portfolio investors (FPIs) appear to be bullish at the moment. However, option premiums have also spiked, and the VIX is up, indicating that there could be massive volatility in the next few sessions. READ MORE Q3 results: New technology focus, margin gains to drive Tech Mahindra   Tech Mahindra joined larger peers in reporting better than expected performance for the quarter ended December 2017. The company reported 2.5% sequential growth in dollar revenue to $1.2 billion.   In addition to business growth, cross-currency tailwinds boosted the top line. The growth was led largely by the enterprise segment which grew 4.2% and the North American region, 47% of revenue and which grew 6.2%. READ MORE Earnings Impact   Sectoral trend Sensex top gainers and losers

Benchmark indices were trading in red following the Economic Survey for 2017-18, which was tabled in Parliament on Monday. Chief Economic Advisor Arvind Subramanian struck an optimistic note about economic growth going forward. The Survey noted that there were “robust signs of growth” in the second half of the financial year, and predicted that growth for the full 2017-18 financial year would be 6.75% year on year, higher than the Central Statistics Office’s prediction of 6.5%. 

The Survey further estimated that the fading of shocks to economic activity like demonetisation together with a recovery in global demand and some domestic policy actions would raise growth in the coming financial year to 7-7.5%. If this is borne out, that would mean India would again be the fastest-growing large economy in the world. 

Globally, Asian stocks retreated from record peaks on Tuesday after a selloff in Apple shares knocked Wall Street, while the dollar found support as U.S. bond yields climbed to near four-year highs.

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First Published: Tue, January 30 2018. 10:09 IST

MARKETS LIVE: Sensex down 200 points, Nifty below 11,050 on global cues

Catch all market action here

Catch all market action here
Benchmark indices were trading in red following the Economic Survey for 2017-18, which was tabled in Parliament on Monday. Chief Economic Advisor Arvind Subramanian struck an optimistic note about economic growth going forward. The Survey noted that there were “robust signs of growth” in the second half of the financial year, and predicted that growth for the full 2017-18 financial year would be 6.75% year on year, higher than the Central Statistics Office’s prediction of 6.5%. 

The Survey further estimated that the fading of shocks to economic activity like demonetisation together with a recovery in global demand and some domestic policy actions would raise growth in the coming financial year to 7-7.5%. If this is borne out, that would mean India would again be the fastest-growing large economy in the world. 

Globally, Asian stocks retreated from record peaks on Tuesday after a selloff in Apple shares knocked Wall Street, while the dollar found support as U.S. bond yields climbed to near four-year highs.
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