MARKET WRAP: Indices end lower, Nifty fails to hold 10700; bank stocks fall
Benchmark indices edged lower on Friday as losses in financials offset gains in auto stock
 "Bonds, Stock markets, Shares, Trading")
Bonds, Stock markets, Shares, Trading
9:02 AM![]()
Markets at pre-open
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 35,575.69 | +253.31 | +0.72 |
| S&P BSE SENSEX 50 | 11,403.40 | +175.83 | +1.57 |
| S&P BSE SENSEX Next 50 | 32,985.90 | +56.09 | +0.17 |
| S&P BSE 100 | 11,190.69 | +149.92 | +1.36 |
| S&P BSE Bharat 22 Index | 3,575.42 | +11.17 | +0.31 |
(Source: BSE)
8:59 AM
Backed by government spending and investment, the economy grew at a seven-quarter high of 7.7 per cent in January-March. But this did not prevent GDP growth, at 6.7 per cent in 2017-18, from falling to its lowest rate in four years of the Narendra Modi government. READ MORE
![]()
GDP grows 7.7% in Q4; India retains world's fastest growing economy tag
Backed by government spending and investment, the economy grew at a seven-quarter high of 7.7 per cent in January-March. But this did not prevent GDP growth, at 6.7 per cent in 2017-18, from falling to its lowest rate in four years of the Narendra Modi government. READ MORE
8:56 AM
Crude Oil market recovered smartly yesterday after last week’s correction on news of OPEC’s oil supply normalization. The cartel and its Russian ally seem to take seriously the recent warning that $70 or higher barrel price could further curb oil demand and thus economic growth. The recent correction was needed if crude wants to trade again above $80 as the long position was getting overcrowded. The recent correction has shaken off some of the bulls. We don’t expect crude to correct majorly as long as $74 is not broken in NYMEX. READ MORE
![]()
Commodity outlook by Tradebulls for today
Crude Oil market recovered smartly yesterday after last week’s correction on news of OPEC’s oil supply normalization. The cartel and its Russian ally seem to take seriously the recent warning that $70 or higher barrel price could further curb oil demand and thus economic growth. The recent correction was needed if crude wants to trade again above $80 as the long position was getting overcrowded. The recent correction has shaken off some of the bulls. We don’t expect crude to correct majorly as long as $74 is not broken in NYMEX. READ MORE
8:54 AM
![]()
Top stock ideas from Anand Rathi Research for today's trade
Buy GODREJ INDS
TARGET: Rs 620
STOP LOSS: Rs 570
Godrej Industries has started to form higher tops and higher bottoms with a positive buy crossover in its momentum indicators on the daily as well as the weekly charts. The wave III of wave 3 up seems to have started which means the momentum is likely to remain strong for a long time, however for the short term the target comes to 620, one can buy this with a stop loss of 570. The stock has also provided a breakout from the bullish flag pattern that was formed on the hourly charts which is a bullish reversal pattern. READ MORE
8:52 AM
![]()
Today's picks: From Tech Mahindra to HUL, hot stocks to watch on Friday
Tech Mahindra
Current price: Rs 712
Target price: Rs 725
Keep a stop at Rs 705 and go long. Add to the position between Rs 720 and Rs 722. Book profits at Rs 725.
Hindustan Unilever
Current price: Rs 1,611
Target price: Rs 1,590
Keep a stop at Rs 1,625 and go short. Add to the position between Rs 1,595 and Rs 1,600. Book profits at Rs 1,590. READ MORE
8:49 AM
![]()
Nifty outlook from Prabhudas Lilladher for today
Nifty has held on well above 10650 & if sustains above 10688 the weekly trend too would turn positive after 2 weeks. The support for the day is seen at 10670 while resistance is seen at 10780. Bank Nifty has been an outperformer with front line banking stocks continuing to surge higher, the range for the day would be 26730-27160. FMCG also continues to show good momentum with now focus on ITC, Dabur, Marico, etc. READ MORE
Nifty has held on well above 10650 & if sustains above 10688 the weekly trend too would turn positive after 2 weeks. The support for the day is seen at 10670 while resistance is seen at 10780. Bank Nifty has been an outperformer with front line banking stocks continuing to surge higher, the range for the day would be 26730-27160. FMCG also continues to show good momentum with now focus on ITC, Dabur, Marico, etc. READ MORE
8:48 AM![]()
Markets on Thursday
| S&P BSE Sensex | 35,322.38 |
 | 1.19% |
| Nifty 50 | 10,736.15 |
| 1.15% |
| S&P BSE 200 | 4,654.35 |
| 0.77% |
| Nifty 500 | 9,315.35 |
| 0.65% |
| S&P BSE Mid-Cap | 16,013.81 |
 | -0.24% |
| S&P BSE Small-Cap | 17,249.45 |
| -0.57% |
8:46 AM![]()
SGX Nifty
The SGX Nifty was at 10,734.50, up 0.17 per cent from the previous close.
The SGX Nifty was at 10,734.50, up 0.17 per cent from the previous close.
8:45 AM![]()
Asian Markets
Asian equities sagged on Friday as worries about US trade policy hit global financial markets, which were already shaken this week by political turmoil in Italy.
MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.08 per cent. The index was down roughly 0.9 percent this week, during which it touched a six-week low on concerns that political developments in Italy could weaken its commitment to the euro and exacerbate the country’s debt burden. Japan's Nikkei shed 0.1 percent.
8:41 AM![]()
Wall Street
US stocks fell on Thursday after the United States moved to impose tariffs on metal imports from Canada, Mexico and the European Union, prompting retaliatory measures from some of its trading partners.
The Dow Jones Industrial Average fell 251.94 points, or 1.02 per cent, to 24,415.84, the S&P 500 lost 18.74 points, or 0.69 per cent, to 2,705.27 and the Nasdaq Composite dropped 20.34 points, or 0.27 per cent, to 7,442.12.
8:38 AM![]()
Good Morning!
Welcome to Business Standard's live blog on markets.
Welcome to Business Standard's live blog on markets.
Topics :
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jun 01 2018 | 3:30 PM IST
