MARKET WRAP: Sensex down 306 pts, Nifty fails to hold 10,450; OMCs drag
Benchmark indices fell on Wednesday pulled down by oil companies
9:59 AM
Market Check
S&P BSE Sensex | 34,596.79 | -0.16% | |
Nifty 50 | 10,514.85 | -0.21% | |
S&P BSE 200 | 4,568.10 | -0.06% | |
Nifty 500 | 9,142.15 | -0.04% | |
S&P BSE Mid-Cap | 15,819.90 | 0.52% | |
S&P BSE Small-Cap | 17,133.01 | 0.45% |
9:48 AM
The start of 2018 hasn’t been so good for mutual fund (MF) investors. With returns of two-thirds of large-cap MF schemes in the red, it seems that the fabulous run investors had could be coming to an end. Of the 204 large-cap schemes, including direct plans and exchange-traded funds, returns of 138 are in the negative, according to Value Research. The category average returns of the large-cap funds is -2 per cent. In comparison, the BSE Sensitive Index, or Sensex, for the same period, is up 1.7 per cent. The Nifty 50 is marginally up at 0.1 per cent. Large-cap funds usually form the core part of an investor’s portfolio. READ MORE
Most large-cap mutual fund schemes in red; Nifty small-cap index falls 14%
The start of 2018 hasn’t been so good for mutual fund (MF) investors. With returns of two-thirds of large-cap MF schemes in the red, it seems that the fabulous run investors had could be coming to an end. Of the 204 large-cap schemes, including direct plans and exchange-traded funds, returns of 138 are in the negative, according to Value Research. The category average returns of the large-cap funds is -2 per cent. In comparison, the BSE Sensitive Index, or Sensex, for the same period, is up 1.7 per cent. The Nifty 50 is marginally up at 0.1 per cent. Large-cap funds usually form the core part of an investor’s portfolio. READ MORE
9:35 AM
FMCG stocks outperform in CY18; ITC, HUL among top analyst picks
Shares of fast moving consumer goods companies (FMCG) companies have outperformed the market thus far in the calendar year 2018 (CY18), after reporting better-than-expected volume growth while reporting their March 2018 quarter (Q4FY18) results.
Thus far in CY18, the Nifty FMCG index has rallied 6.8 per cent as compared to 0.13 per cent decline in the Nifty 50, while the S&P BSE FMCG index has gained 5.1 per cent against 1.6 per cent rally in the S&P BSE Sensex. READ MORE
9:21 AM
EARNINGS
Drug major Cipla on Tuesday reported a consolidated net profit of Rs 1.5325 billion for the quarter ended March 31, 2018 mainly on account of robust sales in key markets and reduction in expenses. The company had posted a net loss of Rs 627.9 million during January-March, 2016-17, Cipla said in a BSE filing. READ MORE
EARNINGS IMPACT
9:18 AM
Sectoral Trend
9:17 AM
Top Sensex gainers and losers
9:16 AM
Markets at open
At 9:16 am, the S&P BSE Sensex was trading at 34,643, down 6 points while the broader Nifty50 index was ruling at 10,527, down 8 points
At 9:16 am, the S&P BSE Sensex was trading at 34,643, down 6 points while the broader Nifty50 index was ruling at 10,527, down 8 points
9:01 AM
Markets at pre-open
(Source: BSE)
Index | Current | Pt. Change | % Change |
S&P BSE SENSEX | 34,611.20 | -40.04 | -0.12 |
S&P BSE SENSEX 50 | 11,055.98 | +25.95 | +0.24 |
S&P BSE SENSEX Next 50 | 32,446.18 | +43.07 | +0.13 |
S&P BSE 100 | 10,872.75 | +23.59 | +0.22 |
S&P BSE Bharat 22 Index | 3,528.02 | +17.63 | +0.50 |
(Source: BSE)
8:59 AM
Buy Pidlite, Tata Elxsi: Motilal Oswal Securities
PIDILITE
Reco: BUY
Last Close: 1118
Stop Loss : 1092
Target : 1055
It is on the verge of pole & flag breakout. RSI witnessed positive crossover with rise in volume.
TATA ELXSI
Reco: BUY
Last Close: 1169.45
Stop Loss : 1135
Target : 1240
On the verge to triangle breakout It is on the verge of pole & flag breakout. RSI moving north ways in all timeframe. READ MORE
8:56 AM
Top trading ideas from Prabhudas Lilladher for today
BUY CROMPTON GREAVES CONSUMER
CMP : Rs 243.90
TARGET : Rs 260
STOP L OSS : Rs 230
The stock has been in consolidation for quite some time at around 240 levels and currently has maintained above the 34WMA moving averages to indicate a positive bias and is poised for an up move in the coming days. Also it has moved above the 200 DMA and has made the chart look attractive for a bounce up to 255-260 levels. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 260 keeping a stop loss of 230. READ MORE
8:53 AM
Today's picks: From Infosys to IOC, hot stocks to watch on Wednesday
Infosys
Current price: Rs 1,194
Target price: Rs 1,215
Keep a stop at Rs 1,185 and go long. Add to the position between Rs 1,205 and Rs 1,210. Book profits at Rs 1,215. READ MORE
8:50 AM
Nifty breaks the 5 session’s losing streak by rising 20 points, to close at 10536. Midcaps and smallcaps have been hammered down significantly recently. We are in fag end of the result season and considering the oversold conditions, we expect midcaps to recoup some of their losses in the coming days. However, considering the overall trend, Nifty should be sold in the pullbacks. Range of 10600-10650 should be utilized to initiate fresh shorts with a stop loss of 10700. Support for the Nifty is seen at 10325. READ MORE
Nifty outlook by HDFC Securities
Nifty breaks the 5 session’s losing streak by rising 20 points, to close at 10536. Midcaps and smallcaps have been hammered down significantly recently. We are in fag end of the result season and considering the oversold conditions, we expect midcaps to recoup some of their losses in the coming days. However, considering the overall trend, Nifty should be sold in the pullbacks. Range of 10600-10650 should be utilized to initiate fresh shorts with a stop loss of 10700. Support for the Nifty is seen at 10325. READ MORE
8:46 AM
Oil dips after rally, OPEC may ease supply curbs
Oil prices edged lower on Wednesday as the market took a breather on expectations OPEC may raise supplies as early as June, although geopolitical risks kept a floor under the market.
Brent futures dipped 4 cents to $79.53 a barrel, after climbing 35 cents on Tuesday. Last week, the global benchmark hit $80.50 a barrel, the highest since November 2014. US West Texas Intermediate (WTI) crude futures eased 2 cents to $72.18 a barrel, having climbed on Tuesday to $72.83 a barrel, the highest since November 2014. READ MORE
Representative Image
8:43 AM
Markets on Tuesday
S&P BSE Sensex | 34,651.24 | 0.10% | |
Nifty 50 | 10,536.70 | 0.19% | |
S&P BSE 200 | 4,570.94 | 0.36% | |
Nifty 500 | 9,145.65 | 0.41% | |
S&P BSE Mid-Cap | 15,738.11 | 0.65% | |
S&P BSE Small-Cap | 17,056.89 | 0.65% |
8:40 AM
SGX Nifty
The SGX Nifty was at 10,525.50, down 0.23 per cent from its previous settlement.
The SGX Nifty was at 10,525.50, down 0.23 per cent from its previous settlement.
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First Published: May 23 2018 | 3:30 PM IST