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

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)

3:51 PM

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."

3:38 PM

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

3:36 PM

Sectoral Trend

3:35 PM

Top Sensex gainers and losers

3:33 PM

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

3:15 PM

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

3:08 PM

Edelweiss Financial nears record high; stock up 15% in one month

 

Edelweiss Financial Services rallied 6% to Rs 305, trading close to its all-time high of Rs 309 recorded on November 3, 2017 on the BSE, in otherwise range-bound market on Monday.

 

In past one month, the stock has outperformed the market by gaining 15% as compared to 4% rise in the S&P BSE Sensex. Since May 3, 2018, post March quarter (Q4FY18) results, the stock rallied 7% against 1% rise in the benchmark index. READ MORE

2:52 PM

Mid, Small-cap stocks under pressure; 68 scrips hit 52-week low

 

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.

 

Sugar stocks like Bajaj Hindustan, Dalmia Bharat, DCM Shriram Industries, Dhampur Sugar, Dwarikesh Sugar, KCP Sugars and Mawana Sugars hit 52-week lows due to falling sugar prices. READ MORE

2:38 PM

HUL Q4FY18 results preview: Rise in rural demand to aid performance

Hindustan Unilever (HUL) is likely to announce its fourth quarter results later in the day today. According to analysts, HUL will gain from: 1) expected pick‐up in rural demand; 2) lower goods and service tax (GST) rates on more than two-third of its portfolio; and 3) benefits from sustained cost‐savings programs READ MORE

2:37 PM

PSBs' bad loans hit Rs 6.89 trn, or the cost of electrifying half of India!

Indian public sector banks’ (PSB) bad loans soared 1.5 times, from Rs 2.67 lakh crore ($39.99 billion) on March 31, 2015, to Rs 6.89 lakh crore ($103.21 billion)–an amount that could electrify half of India’s households–on June 30, 2017, according to this reply to the Lok Sabha (lower house of parliament) by Shiv Pratap Shukla, minister of state for finance, on April 6, 2018 READ MORE

2:16 PM

EARNINGS IMPACT

 

Parag Milk Foods hit a 52-week high of Rs 327, up 7% on the BSE in intra-day trade, after the company reported 18% year-on-year (YoY) growth in its consolidated net profit at Rs 262 million in March quarter (Q4FY18), on the back of healthy growth in operational revenue.

 

The company is a manufacturer and marketer of diary-based branded products in India, and had reported a profit of Rs 221 million in the same quarter year ago. READ MORE

2:01 PM

Market Check

S&P BSE Sensex	35,498.33		-0.11%
Nifty 50	10,783.65		-0.21%
S&P BSE 200	4,682.97		-0.29%
Nifty 500	9,380.40		-0.38%
S&P BSE Mid-Cap	16,225.62		-0.72%
S&P BSE Small-Cap	17,682.03		-0.76%

1:45 PM

ELECTIONS & MARKETS Markets are not factoring in Karnataka poll outcome yet, say analysts

 

Markets have not yet priced in the possibility of a loss for the Narendra Modi-led Bharatiya Janata Party (BJP) in the upcoming assembly election in Karnataka. Though analysts expect a knee-jerk reaction to the outcome on May 15, they believe the markets will start focussing on other global and domestic events soon after.

 

Nilesh Shah, managing director at Kotak Mahindra Mutual Fund believes the S&P BSE Sensex could dip sharply if the BJP loses Karnataka. He, however, expects the recovery to be equally swift. A win, on the other hand, could take markets higher.

Photo: Shutterstock.com

1:32 PM

RBI's cash infusion not enough to cheer market, arrest Rupee's slide

 

Bond investors are finding out that the Reserve Bank of India isn’t as generous as they thought.

 

Sovereign debt declined for a third day Friday, wiping out gains fueled by the RBI’s May 4 decision to inject cash by buying bonds. The measure has failed to revive demand for debt as it simply restores the cash drained by the authority to prop up a sliding rupee, traders say. READ MORE

1:16 PM

Top BSE500 gainers

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
SUN TV NETWORK	964.55	99.90	11.55	467414
PARAG MILK FOODS	342.55	35.20	11.45	588950
PHOENIX MILLS	649.75	38.80	6.35	8660
SOUTH IND.BANK	27.00	1.45	5.68	1759875
SHARDA CROPCHEM	448.20	21.65	5.08	24986