MARKETS ON MONDAY: Sensex, Nifty end flat ahead of Karnataka poll outcome

The markets ended flat ahead of Karnataka election outcome

SI Reporter | New Delhi Last Updated at May 14, 2018 15:51 IST

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Market rundown by Vinod Nair, Head of Research, Geojit Financial Services "Market traded range bound as all eyes turned cautious ahead of tomorrow’s Karnataka state election verdict and CPI inflation data later in the day. WPI inflation accelerated to 3.18% in April due to surge in fuel and food prices which may have a negative impact on CPI inflation and is expected to surge to 4.41% vs 4.28% in March. Consequently, rupee & bond yield will continue to witness volatility." Nifty Auto index falls nearly 1%: top losers in the pack COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME ASHOK LEYLAND 154.80 161.85 -7.05 -4.36 18527007 BOSCH 18140.00 18658.00 -518.00 -2.78 21320 TATA MOTORS 323.40 330.80 -7.40 -2.24 8022061 TATA MOTORS-DVR 191.05 195.30 -4.25 -2.18 2044881 M & M 850.85 869.10 -18.25 -2.10 1448106 Sectoral Trend Top Sensex gainers and losers Markets at Close The S&P BSE Sensex settled at 35,557 up 21 points while the braoder Nifty50 index ended at 10,806, up 0 points BUZZING STOCK HDFC Standard Life Insurance Company hit a new high of Rs 547, up 5% on the BSE in intra-day trade on Monday, in otherwise subdued market. Since April 18, post January-March quarter (Q4FY18) results, the stock of insurance company outperformed the market by surging 11% against 3.3% rise in the S&P BSE Sensex. The stock zoomed 89% against its issue price of Rs 290 per share. READ MORE

The markets ended flat ahead of Karnataka election outcome, which will be known on Tuesday.

The S&P BSE Sensex settled at 35,557 up 21 points while the braoder Nifty50 index ended at 10,806, up 0 points

Meanwhile, shares of mid-and small-cap companies were under pressure with 68 stocks from these indices hitting their respective 52-week lows on the BSE in intra-day trade on Monday.

Dena Bank, Oriental Bank of Commerce, IDFC Bank, IFCI and UCO Bank from the banks and financials, Anant Raj Industries, Atlanta, Housing Development and Infrastructure (HDIL), Hindustan Construction Company (HCC), Patel Engineering and Punj Lloyd from the construction and infrastructure sector hit 52-week low.

In key results, Abbott India, Hindustan Unilever, Dr. Lal PathLabs, Britannia Industries, Lupin, Hindalco, ITC, Tata Steel, Bajaj Finance and Bajaj Auto are likely to announce their March 2018 quarter earnings later this week.

ECONOMIC DATA

The rate of Wholesale Price Index (WPI)-based inflation hit a four-month high in April, as food inflation beat deflationary trends from the month before and energy prices saw a sudden rise. According to official data released on Monday, the WPI rose to 3.18 per cent in April, up from the 2.47 per cent rise seen in March and the 3.85 per cent rise in April last year. The inflation data for February was revised upwards to 2.74 per cent from the provisional estimate of 2.48 per cent.

GLOBAL MARKETS

Prospects of a thaw in US-China trade tensions supported global stocks on Monday, as US President Donald Trump pledged to help ZTE Corp “get back into business, fast” after a US ban crippled the Chinese technology company, while oil prices retreated from highs.

The MSCI world equity was up 0.1%, holding at its highest level in seven weeks. European stocks were broadly flat as energy stocks and financials weighed.

Stocks in Asia were also upbeat. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%, while Japan’s Nikkei also tacked on 0.5%. Shanghai’s SSE Composite index rose 0.3% while the blue-chip rallied 0.9%. Hong Kong’s Hang Seng index climbed 1.4%.

(with Reuters inputs)

First Published: Mon, May 14 2018. 15:31 IST