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MARKETS LIVE: Sensex up over 200 pts, Nifty near 10,200; PSU banks gain

Catch all the market news here.

SI Reporter  |  New Delhi 

markets, stocks, sensex, nifty, bse, nse
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Nirav Modi scam: Diamond traders now courting firms with long-term credit   In the aftermath of the Rs 129-billion fraud at Punjab National Bank (PNB) involving Nirav Modi and Gitanjali Gems, traders of loose diamonds are now shifting to organised sectoral players with deeper pockets for credit offers to consumers.   Since most banks have tightened their lending to diamond merchants and others are in the process of doing so, many medium and small diamond dealers are approaching large players for credit facility within the industry. Early last week, State Bank of India, the country’s largest-public sector bank, announced its decision to tighten collateral demands on borrowers from the gems & jewellery industry. READ MORE GSPL stock: Gujarat Gas stake buy if funded via debt to impact bottom line   Gujarat State Petronet’s (GSPL) decision to acquire a 28.4 per cent stake in Gujarat Gas and thereby, becoming a majority shareholder in the company did not go down well with the Street. Reacting to the news, the stock shed 6.25 per cent on Tuesday.   GSPL, which has a 25.8 per cent stake in Gujarat Gas, will acquire another 28.4 per cent stake from its parent Gujarat State Petroleum Corporation (GSPC). The transaction is likely to be smooth as no regulatory approval will be required. READ MORE Market Check S&P BSE Sensex 33,272.96 0.84%   Nifty 50 10,207.45 0.82%   S&P BSE 200 4,465.88 0.83%   Nifty 500 8,999.35 0.88%   S&P BSE Mid-Cap 16,135.45 0.87%   S&P BSE Small-Cap 17,373.40 1.06% Report on Shree Cement by Reliance Securities   Reco: Buy  Target price: Rs​ 22000 ​​ Shree Cement (SCL) gained ~2.5% in yesterday’s trade on the expectation of healthy traction ahead due to better utilization and favourable market mix.   While Northern realization continues to remain dismal so far in 4QFY18, Eastern realization has been resilient and firm. We believe firm realizations in Eastern region and resumption of petcoke usage are likely to provide support to margins in current quarter. Further, we expect Northern realization to recover in 1QFY19. From Cholamandalam to Indostar, CVs to drive auto financiers' growth Non-banking financial companies (NBFCs), focused on automobile financing, are expected to witness good credit growth, on the back of robust automobile sales, especially commercial vehicles (CV), and expectations that the recent trends will continue. READ MORE MCX plans spot commodity trading in industrial & precious metals and energy India's largest commodity derivatives exchange for metals and energy is now expanding in spot commodity trading and it plans to replicate its strength in metals, including precious metals, and energy contracts in the spot market as well. The move will be a major development following market regulator Sebi's nod to equity and commodity exchanges to enter each other's domains. READ MORE

The benchmark indices were trading around 1% higher on Wednesday ahead of US Federal Reserve's key interest rate decion.

Among sectoral indices, the Nifty PSU Bank index was trading over 1% higher led by a rise in the shares of IDBI Bank, Bank of India and Indian Bank.


In the global markets, a hush settled over financial markets on Wednesday as investors waited to hear how often the Federal Reserve might hike interest rates this year, while the currencies of exporting nations were rattled by fears of a full-blown trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed after four straight days of losses. Japan's Nikkei was closed for a local holiday.

Among currencies, the dollar held firm against major currencies on Wednesday as traders look to whether the US Federal Reserve will indicate faster monetary tightening this year, with the first rate increase of 2018 almost unanimously expected later in the day.

Markets have largely priced in three US rate hikes this year, but some analysts suspect the Fed’s ‘dot plot’ of forecasts could shift up to four and spook risk assets.

US President Donald Trump is expected to unveil up to $60 billion in import duties on Chinese goods by Friday. The move comes after Trump imposed tariffs on imported steel and aluminum earlier this month.

Investors are worried Trump’s actions could escalate into a full-blown trade war if China and other countries retaliate with similar or harsher measures, threatening global growth.

To add to these concerns, a meeting of finance ministers and central banks of the world’s 20 biggest economies this week failed to diffuse the threat.

(with Reuters inputs)

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First Published: Wed, March 21 2018. 12:00 IST

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MARKETS LIVE: Sensex up over 200 pts, Nifty near 10,200; PSU banks gain

Catch all the market news here.

Catch all the market news here. The benchmark indices were trading around 1% higher on Wednesday ahead of US Federal Reserve's key interest rate decion.

Among sectoral indices, the Nifty PSU Bank index was trading over 1% higher led by a rise in the shares of IDBI Bank, Bank of India and Indian Bank.

In the global markets, a hush settled over financial markets on Wednesday as investors waited to hear how often the Federal Reserve might hike interest rates this year, while the currencies of exporting nations were rattled by fears of a full-blown trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed after four straight days of losses. Japan's Nikkei was closed for a local holiday.

Among currencies, the dollar held firm against major currencies on Wednesday as traders look to whether the US Federal Reserve will indicate faster monetary tightening this year, with the first rate increase of 2018 almost unanimously expected later in the day.

Markets have largely priced in three US rate hikes this year, but some analysts suspect the Fed’s ‘dot plot’ of forecasts could shift up to four and spook risk assets.

US President Donald Trump is expected to unveil up to $60 billion in import duties on Chinese goods by Friday. The move comes after Trump imposed tariffs on imported steel and aluminum earlier this month.

Investors are worried Trump’s actions could escalate into a full-blown trade war if China and other countries retaliate with similar or harsher measures, threatening global growth.

To add to these concerns, a meeting of finance ministers and central banks of the world’s 20 biggest economies this week failed to diffuse the threat.

(with Reuters inputs)

 image
Business Standard
177 22

MARKETS LIVE: Sensex up over 200 pts, Nifty near 10,200; PSU banks gain

Catch all the market news here.

The benchmark indices were trading around 1% higher on Wednesday ahead of US Federal Reserve's key interest rate decion.

Among sectoral indices, the Nifty PSU Bank index was trading over 1% higher led by a rise in the shares of IDBI Bank, Bank of India and Indian Bank.

In the global markets, a hush settled over financial markets on Wednesday as investors waited to hear how often the Federal Reserve might hike interest rates this year, while the currencies of exporting nations were rattled by fears of a full-blown trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed after four straight days of losses. Japan's Nikkei was closed for a local holiday.

Among currencies, the dollar held firm against major currencies on Wednesday as traders look to whether the US Federal Reserve will indicate faster monetary tightening this year, with the first rate increase of 2018 almost unanimously expected later in the day.

Markets have largely priced in three US rate hikes this year, but some analysts suspect the Fed’s ‘dot plot’ of forecasts could shift up to four and spook risk assets.

US President Donald Trump is expected to unveil up to $60 billion in import duties on Chinese goods by Friday. The move comes after Trump imposed tariffs on imported steel and aluminum earlier this month.

Investors are worried Trump’s actions could escalate into a full-blown trade war if China and other countries retaliate with similar or harsher measures, threatening global growth.

To add to these concerns, a meeting of finance ministers and central banks of the world’s 20 biggest economies this week failed to diffuse the threat.

(with Reuters inputs)

image
Business Standard
177 22