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Nifty ends 1% lower, fails to hold 10,100 mark, Sensex down 252 points Sensex ends 130 pts lower, Nifty a tad above 10100; PSU banks, realty fall Sensex ends 470 pts higher, Nifty settles at 10,131; PSU Bank index up 5% Sensex ends 108 pts higher, Nifty comfortably above 10,150; PSU banks gain Sensex, Nifty end lower after choppy trade; PSU banks continue to slide -
Market Check S&P BSE Sensex 33,185.84 0.66% Nifty 50 10,189.85 0.75% S&P BSE 200 4,468.56 0.81% Nifty 500 8,998.30 0.97% S&P BSE Mid-Cap 16,117.79 0.97% S&P BSE Small-Cap 17,327.31 1.96% New Nifty50 constituents trade mixed: Bajaj Finserv up 1.5%, Titan flat New Nifty50 constituents, Bajaj Finserv, Grasim Industries and Titan Company were trading mixed on Monday after inclusion in the benchmark index Nifty50. While Bajaj Finserv and Grasim Industries gained as much as 1.8% and 3.7% respectively, Titan Company rose only 0.5% in intra-day trade. On the other hand, Ambuja Cements (up 1.4%) Aurobindo Pharma (up 4.8%) and Bosch (up 2.4%) also rose, despite exclusion from the index. READ MORE Dividend yield stocks: How to navigate if the market turns bearish? When the markets are down and stocks are cheap, it is an opportunity to look for high dividend yield stocks. As long as you hold the stock concerned and as long as the company continues to pay dividends at the same rate, your dividend yield is fixed for life, even if the market price of the stock changes subsequently. READ MORE BSE to auction investment limits for govt bonds worth Rs 110 bn Leading stock exchange BSE will auction investment limits for foreign investors to purchase government bonds worth over Rs 110 billion on Tuesday. The auction for investment limits for such securities has been receiving a good response from foreign portfolio investors (FPIs) in recent past. The auction will be conducted on BSE's ebidxchange platform from 3:30 pm to 5:30 pm, after the close of market hours, the bourse said in a notice today. READ MORE Nifty price-to-earnings down 10%, still above long-term average The benchmark Nifty index currently trades at 16.8 times its 12-month forward earnings estimate. At January-end, when the index had climbed to a record high, the 50-share blue-chip index traded at a price-to-earnings (P/E) multiple of 18.6 times. The 10-year average P/E for the Nifty index is 15 times — nearly 14 per cent below the current level. Analysts say current market levels are close to their ‘fair-value’ and if the correction extends by another 5 to 10 per cent, valuations become ‘attractive’. READ MORE Can Fin Homes falls 9% after Canara Bank calls off divestment plan Shares of Can Fin Homes have dipped 9% to Rs 441 per share, extending its 7% fall in past two trading sessions on the BSE after the Canara Bank, the promoter of the company called off move to divest its entire shareholding in housing finance subsidiary after receiving lower than expected price quotation. READ MORE
The benchmark indices were trading higher taking cues from their key Asian counterparts.
Among sectoral indices, the Nifty PSU Bank index slipped over 1% lower led by a fall in the shares of IDBI Bank, Canara Bank, State Bank of India.
On the other hand, auto stocks gained ground on Monday, after most companies reported strong sales figures for FY18. According to reports, Maruti Suzuki and Tata Motors, the largest and fourth biggest player in domestic passenger vehicle (cars, vans and utility vehicles) market have closed the 2017-18 financial year with a strong double digit volume growth. .
In economic data, the Centre’s April-February fiscal deficit came in at Rs 7.15 trillion, a staggering 120.3 per cent of the full-year Revised Estimates (RE) of Rs 5.95 trillion. The official data was released on Wednesday. With numbers for March unreleased, meeting the revised fiscal deficit target of containing the deficit at 3.5 per cent of gross domestic product for the year will be an uphill task minus the expenditure squeeze.
The investors will now look forward to the Reserve Bank of India's first bi-monthly policy decision of FY19 to be held later this week.
GLOBAL MARKET
Asian stocks began the new financial year on Monday with mild gains following a strong performance by global equities last week, while the dollar held steady ahead of key economic indicators. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent.
South Korea's KOSPI gained 0.6 per cent and Japan's Nikkei advanced 0.55 per cent. Hong Kong's Hang Seng added 0.25 per cent and Shanghai was up 0.4 per cent.
(with Reuters inputs)
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