Sugar shares in focus; Dhampur, Mawana, Dwarikesh up over 4% Shares of sugar companies were trading higher by up to 20% on BSE in otherwise weak market after the government imposed a limit on the amount of sugar that mills can sell in the market during February and March. The market price of Avadh Sugar & Energy, Dhampur Sugar Mills, Magadh Sugar, Mawana Sugars, Dwarikesh Sugar and Uttam Sugar Mills were trading higher by more than 4% on BSE. READ MORE Cement, two-wheelers and building materials. Stocks you should avoid now The steep increase in domestic and global bond yields may have stirred the market out of its complacency and into recognizing that the deterioration may be here to stay for longer than earlier, says Sanjeev Prasad, executive director and co-head, Kotak Institutional Equities in a recent co-authored report with Sunita Baldawa and Anindya Bhowmik. READ MORE Markets Check Index Current Pt. Change % Change S&P BSE SENSEX 33,917.72 -495.44 -1.44 S&P BSE SENSEX 50 10,873.12 -153.80 -1.39 S&P BSE SENSEX Next 50 34,276.86 -355.28 -1.03 S&P BSE 100 10,811.97 -146.42 -1.34 S&P BSE Bharat 22 Index 3,672.60 -39.83 -1.07 (Source: BSE) CAG seeks Sebi explanation on losses due to long-term capital gains benefit The Comptroller and Auditor General of India (CAG) has written to the Securities and Exchange Board of India (Sebi) seeking an explanation on the loss incurred by the exchequer from misuse of the long-term capital gains (LTCG) exemption. According to sources, the market regulator has identified loss worth Rs 150 billion due to price manipulation on the stock market platform to avail the LTCG benefit. So far, Sebi has passed nine interim orders in the matter. READ MORE Fortis Healthcare turns volatile after promoters Singh brothers resignation The stock of Fortis Healthcare has turned volatile a day after the promoters Malvinder Mohan Singh and Shivinder Mohan Singh announced late on Thursday their decision to resign from the board of the hospital chain. The stock opened 2% lower at Rs 123 on BSE, bouncing back 28% to hit high of Rs 157 in intra-day trade so far on back of heavy volumes. READ MORE Glenmark Pharma declines 9% on weak Q3 results Glenmark Pharmaceuticals has fallen 9% to Rs 524, its 52-week low on BSE in early morning trade after the company reported 78% fall in its consolidated net profit at Rs 1.05 billion for the quarter ended December 2017 (Q3FY18) on sharp decline of US sales, despite growth in domestic formulations as well as other geographies. It had reported a net profit of Rs 4.77 billion for the previous corresponding quarter. The consolidated revenue during the quarter under review declined 13% to Rs 22 billion as against Rs 25 billion in the corresponding quarter of previous fiscal. READ MORE
Benchmark indices continued to trade lower following Asian stocks that tumbled on Friday after Wall Street shares suffered yet another big slide amid worries over rising bond yields, while perceived havens such as the yen and Swiss franc drew demand amid the turmoil.
Japan’s Nikkei slipped 3% en route for a weekly loss of 8.6%. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.8%.
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