Market Check S&P BSE Sensex 35,367.81 0.43% Nifty 50 10,751.75 0.32% S&P BSE 200 4,695.86 0.18% Nifty 500 9,429.60 0.10% S&P BSE Mid-Cap 16,564.36 -0.43% S&P BSE Small-Cap 18,124.34 0.08% Bond yields up 7.65% after RBI revises open market purchase securities list India’s benchmark 10-year bond yield jumped in early trade on Wednesday after the central bank revised the list of securities it plans to buy back from the market at its open market purchase of debt on May 17. The Reserve Bank of India on Tuesday removed the 6.84 per cent 2022 bonds from the list of government securities that it had announced it would buy at the OMO. This particular paper had been selected for a sale on May 11 as well and was seen by traders as a signal to support the government’s sovereign borrowing programme. READ MORE Tata Motors up 4% after rise in JLR April retail sales Shares of Tata Motors have moved higher by 4.4% to Rs 347 per share on the BSE after the company owned car-maker in UK, Jaguar Land Rover (JLR) reported 11.9% year on year (y-o-y) growth in total retail sales of 45,180 vehicles in April 2018. Sales were primarily driven by the introduction of new models including the Range Rover Velar (winner of the 2018 World Car Design of the Year award), Land Rover Discovery and the Jaguar E-PACE, the company said in a press release. READ MORE MARKET CHECK Rupee at fresh 15-month low, plunges 37 paise to 67.45 against US dollar The rupee plunged by 37 paise to 67.45 against the US dollar in early trade today following surging demand for the greenback as crude oil prices zoomed past USD 76 per barrel level amid foreign capital outflows. Forex dealers said the dollar strengthened against major global currencies overseas as crude oil prices rallied and pushed Treasury yields higher after US President Donald Trump pulled out from the international nuclear deal with Iran. READ MORE Value offers spice up growth at Jubilant FoodWorks Jubilant FoodWorks ended 2017-18 on a strong note, with its March quarter numbers beating estimates on all counts. Despite a lower base from the year-ago quarter, it reported 27.3 per cent increase in revenue, aided by a strong 26.5 per cent growth in same-store sales (SSS), its highest in six years for its core Domino’s Pizza business. After a muted 0.6 per cent average SSS growth over FY14-17, things have improved since the beginning of FY18. Growth improved 6.5 per cent at the start of the year and increased to 18 per cent in the December quarter. READ MORE
The markets are trading higher amid weakness in their Asian counterparts with the Nifty50 index testing the 10,750 mark. Oil marketing companies were under pressure following Donald Trump's sanctions on Iran and its likely impact on global crude oil prices.
Crude oil prices jumped back to near three-and-a-half-year highs on Wednesday after US President Donald Trump pulled his country out of an international nuclear deal with Iran, sparking worries about global oil supplies.
The Asian shares ticked lower as renewed US sanctions on Tehran were seen as disruptive for many companies that have deals with Iran. Trump’s move is also seen as risking worsening already-tense relations between Iran and US allies in the region.
MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent while Japan’s Nikkei fell 0.4 per cent.
