MARKETS ON MONDAY: Indices end higher for eighth session, Infosys down 3%

Benchmark indices recovered lost ground to end higher for eighth straight session, their longest gaining run so far this year.

SI Reporter | New Delhi Last Updated at April 16, 2018 15:38 IST

Benchmark indices recovered lost ground to end higher for eighth straight session, their longest gaining run so far this year.

The S&P BSE Sensex ended at 34,305, up 112 points while the broader Nifty50 index settled at 10,528, up 48 points

Shares of India’s second-largest IT services company, Infosys, tumbled nearly 3% after it forecast on Friday FY19 operating margin between 22 to 24%, which Credit Suisse said was 100 basis points below expectations, and slightly lower than the previous year’s 24.3%.

Meanwhile, in economic data, March wholesale price inflation (WPI) came in at 2.47 per cent on Monday versus 2.48 per cent month-on-month, data showed.

Broader weakness in Asian markets also weighed on the sentiment amid tensions between the United States and Russia over Syria, with MSCI’s broadest index of Asia-Pacific shares outside Japan shedding 0.4%.

The United States, France and Britain launched 105 missiles targeting what the Pentagon said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas attack in Douma on April 7.

Russian President Vladimir Putin warned on Sunday that further Western attacks on Syria would bring chaos to world affairs, as Washington prepared to increase pressure on Russia with new economic sanctions. But with President Donald Trump declaring mission accomplished, investors wagered the worst had been avoided.

Nifty Realty gained over 1.5%: Top gainers in the pack COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME INDBULL.REALEST. 192.00 180.75 11.25 6.22 20645312 PRESTIGE ESTATES 303.50 295.60 7.90 2.67 229646 DLF 213.75 210.25 3.50 1.66 5850707 OBEROI REALTY 513.90 508.15 5.75 1.13 132667 H D I L 41.65 41.50 0.15 0.36 6323884 Sectoral trend Top Sensex Gainers and Losers Markets at Close The S&P BSE Sensex ended at 34,305, up 112 points while the broader Nifty50 index settled at 10,528, up 48 points Oil prices drop as fears about Syria strikes fallout wane Oil fell nearly 2% on Monday after US drilling activity rose and fears waned about escalating tensions in the Middle East following air strikes on Syria over the weekend. The United States, France and Britain launched 105 missiles on Saturday, targeting what they said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas attack on April 7. The oil price had risen nearly 10% in the run-up to the strikes, as investors bulked up on assets, such as gold or US Treasuries, that can shield against geopolitical risks. SBI drops out of India's top 10 most valued companies State Bank of India (SBI), India’s largest state-owned bank, lost its place in the list of the country’s 10 most valued companies in terms of market capitalisation after the stock price of bank declined for the fourth straight trading days on the BSE. With the m-cap of Rs 2,229 billion (Rs 2.229 trillion), SBI is currently stands at 11th rank, behind of Kotak Mahindra Bank, which has m-cap of Rs 2,231 billion (Rs 2.231 trillion) at 02:18 pm, the BSE data shows. READ MORE

Meanwhile, in economic data, March wholesale price inflation (WPI) came in at 2.47 per cent on Monday versus 2.48 per cent month-on-month, data showed.

First Published: Mon, April 16 2018. 15:30 IST