Indices end flat on F&O expiry; Sensex down 25 pts, Nifty below 10,400

All that happened in the markets today.

The domestic indices ended largely flat on Thursday following the expiry of derivative contracts for February series.

The S&P BSE Sensex ended at 33,819, down 25 points while the broader Nifty50 index settled at 10,383, down 15 points.

In the global markets, most Asian stocks fell on Thursday, bond yields hit a fresh four-year high and the dollar stood near a one-week high against a basket of major currencies after the minutes from the Federal Reserve's January meeting showed the central bank plans to raise interest rates three times in 2018.

Japanese shares fell sharply to close near one-week low as US rate hike bets boosted demand for the yen and office equipment maker Ricoh said it is conducting impairment tests.

The Nikkei average shed 234 points or 1.07 per cent to 21,736.

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.35 per cent in early trade, while E-Mini futures for the S&P 500 lost 0.2 per cent.

(with wire inputs)

4:02 PM

MARKET COMMENT: Jayant Manglik, President, Religare Broking

 

Derivatives expiry turned out to be a non-event as Nifty ended flat after trading volatile in a narrow range. Mostly sectoral indices closed unchanged following benchmark index while correction continued on broader front.

 

The way things have panned out, on both domestic and global front, in the passing weeks, we do not see any chance of overnight reversal. However, possibility of technical bounce can't be ruled out, citing oversold positions. Above all, sentiment is still bearish and traders can't do without short positions.

 

We advise using rebound for fresh shorts while maintaining caution in stock selection. PSU banks and pharma look weak to us while IT and FMCG is showing tremendous resilience so plan accordingly

3:45 PM

PSU Banks slip further

PSU banks continued to lose ground on Thursday. Indian Bank, Union Bank of India, Oriental Bank of Commerce (OBC) and Bank of Baroda slipped between 1.7% - 2.6%. PNB, however, was the top loser in this space that skidded around 2.8%

3:37 PM

Sectoral Trend

3:36 PM

Sensex top losers and gainers

3:34 PM

Market at close

 

The S&P BSE Sensex ended at 33,819, down 25 points while the broader Nifty50 index settled at 10,383, down 15 points.

3:25 PM

News Watch Liberty House to approach NCLT on Bhushan Power bid rejection by creditors

 

Sanjeev Gupta-led Liberty House will be approaching the National Company Law Tribunal (NCLT) in connection with its bid rejection by creditors to acquire debt-laden Bhusan Power & Steel. "We will go to the NCLT and ask them to direct RP (resolution professional) and CoC (Committee of Creditors) to open our bid," Liberty said in its statement on Thursday. READ MORE

3:15 PM

IDBI Bank hits 9-month high; up 21% in four days

IDBI Bank has moved higher to its nine-month high of Rs 74.60, up 6% on the BSE, extending its past over 10% surge in otherwise weak market. The stock of state-owned lender is trading at its highest level since May 18, 2017. READ MORE

3:04 PM

RInfra bags Rs 36.4 billion contract for thermal power plant in Tamil Nadu

Reliance Infrastructure (RInfra) today said it has won a Rs 36.4 billion contract from Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for work related to Uppur Thermal power project. READ MORE

3:00 PM

Market Check

S&P BSE Sensex	33,730.77		-0.34%
Nifty 50	10,358.10		-0.38%
S&P BSE 200	4,527.94		-0.37%
Nifty 500	9,131.95		-0.39%
S&P BSE Mid-Cap	16,354.69		-0.35%
S&P BSE Small-Cap	17,750.76		-0.28%

2:47 PM

Sebi to auction 11 assets of Pancard at a total reserve price of Rs 2.6 bn

Looking to recover over Rs 70 billion of investors' money, markets regulator Sebi will next month auction 11 properties of Pancard Clubs and its late CMD at a total reserve price of Rs 2.6 billion.
 

This is in addition to 22 properties that were auctioned between December and February with combined reserve price of Rs 5.52 billion. READ MORE

2:37 PM

NSE drops plans to sell 'loss-making' Power Exchange India Limited

The National Stock Exchange (NSE) has decided to call off the sale of its power trading platform Power Exchange India Limited (PXIL). The move comes within months of NSE finding a consortium of buyers who were ready to pick up a stake of NSE at a nominal rate. CLICK HERE FOR FULL STORY

2:28 PM

News Watch PNB hits back at Nirav Modi: Filed complaint as your LoUs were illegal

Punjab National Bank on Thursday responded to the letter sent by Nirav Modi, one of the prime accused in the Rs 114-billion scam at the bank, saying the letters of undertaking issued to his companies were illegal and in violation of the Foreign Exchange Management Act. And, this was what prompted the public-sector bank to go public about the fraud, terming the whole loan taking exercise as “money laundering”, PNB clarified. READ MORE

2:20 PM

Sectoral Trend

2:18 PM

Apollo Micro surges 16% after hitting lowest level since listing

Apollo Micro Systems has risen by 16% to Rs 326, bouncing back 18% from its early morning low on the BSE on back of heavy volumes. The stock hit an intra-day low of Rs 276, its lowest level since listing on January 22, 2018. READ MORE

2:02 PM

BSE Sensex gainers and losers