MARKETS ON THURSDAY: Crude at $80/bbl, K'taka verdict keep indices on edge
Benchmark indices slipped on Thursday, hurt by financial stocks
 "Sebi, markets")
10:31 AM
Motilal Oswal on ITC
We estimate moderate 12-13% earnings growth in the medium term. Possible increase in GST rates in the subsequent GST Council meetings remains an overhang. If ad valorem duty is increased, it would sour the investment case further.
While the stock trades at a discount to Indian FMCG peers at 28.6x FY19E and 25.2x FY20E EPS, it is actually at a premium to global cigarette majors. Due to the uncertain outlook around cigarette earnings, which account for 86% of EBIT, we maintain Neutral with a target price of Rs 295.
10:16 AM
Even as ITC posted a 9.9 per cent year-on-year rise in its March-2018 quarter (Q4) net profit, living up to analysts' expectations, and its cigarettes volumes continued to decline (down an estimated 2-3 per cent in Q4) owing to high prices triggered by massive taxes, its share price closed 1.5 per cent higher in a weak market. READ MORE
Recovering ITC cigarette volumes a positive, improvement to boost earnings
Even as ITC posted a 9.9 per cent year-on-year rise in its March-2018 quarter (Q4) net profit, living up to analysts' expectations, and its cigarettes volumes continued to decline (down an estimated 2-3 per cent in Q4) owing to high prices triggered by massive taxes, its share price closed 1.5 per cent higher in a weak market. READ MORE
10:00 AM
Market Check
| S&P BSE Sensex | 35,373.60 | -0.04% | |
| Nifty 50 | 10,741.95 | 0.01% | |
| S&P BSE 200 | 4,658.20 | -0.05% | |
| Nifty 500 | 9,336.20 | 0.08% | |
| S&P BSE Mid-Cap | 16,056.60 | 0.20% | |
| S&P BSE Small-Cap | 17,608.11 | 0.41% | |
9:49 AM
Punjab National Bank (PNB) hit its lowest level since June 3, 2016 on Wednesday, falling nearly 12 per cent to Rs 75 levels, after reporting a record loss of Rs 134 billion in the January – March 2018 quarter (Q4FY18) – way higher than the Rs 26-27 billion loss expected by analysts. Operating loss during the recently concluded quarter stood Rs 4.5 billion – the first such instance in the bank’s history. READ MORE
Fraud-hit PNB stock is a dud investment, caution analysts
Punjab National Bank (PNB) hit its lowest level since June 3, 2016 on Wednesday, falling nearly 12 per cent to Rs 75 levels, after reporting a record loss of Rs 134 billion in the January – March 2018 quarter (Q4FY18) – way higher than the Rs 26-27 billion loss expected by analysts. Operating loss during the recently concluded quarter stood Rs 4.5 billion – the first such instance in the bank’s history. READ MORE
9:32 AM
Volume Toppers
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
|---|---|---|---|---|
| REL. COMM. | 10.20 | -0.35 | -3.32 | 845629 |
| PUNJAB NATL.BANK | 75.45 | -0.10 | -0.13 | 318414 |
| JP ASSOCIATES | 17.30 | -0.20 | -1.14 | 237308 |
| PC JEWELLER | 175.40 | 3.95 | 2.30 | 208259 |
| PRAJ INDS. | 102.90 | 3.90 | 3.94 |
166238 |
9:19 AM
Sectoral Trend
9:18 AM
Top Sensex gainers and losers
9:16 AM
Markets at open
At 9:16 am, the S&P BSE Sensex was trading at 35,502, up 114 points while the broader Nifty50 index was ruling at 10,775, up 34 points
At 9:16 am, the S&P BSE Sensex was trading at 35,502, up 114 points while the broader Nifty50 index was ruling at 10,775, up 34 points
9:09 AM
SPECIAL REPORT Karnataka assembly poll verdict: How brokerages interpret the developments
Nomura: The BJP’s seat tally has improved in Karnataka, which will likely be viewed positively by markets. The state is seen as the BJP’s gateway to the south. Karnataka was also being seen from the lens of the 2019 general elections. As such, the ability of the Congress to form a quick alliance with the JD(S) is also a reminder of what could transpire going into the 2019 elections READ MORE
9:04 AM
JUST NOW BS Yeddyurappa takes oath as Karnataka Chief Minister: TV reports
9:01 AM
Markets at pre-open
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 35,433.96 | +46.08 | +0.13 |
| S&P BSE SENSEX 50 | 11,290.17 | +36.28 | +0.32 |
| S&P BSE SENSEX Next 50 | 32,951.08 | +213.05 | +0.65 |
| S&P BSE 100 | 11,094.19 | +41.04 | +0.37 |
| S&P BSE Bharat 22 Index | 3,571.46 | -0.27 | -0.01 |
(Source: BSE)
8:58 AM
On a day when the Indian basket of crude oil touched its three-and-a-half year high of $76.31 a barrel, the International Energy Agency (IEA) said in a report that following a growth of 125 kilo barrels per day in 2017, India will see an acceleration in oil demand to 300 kb/d in 2018. This is despite a drop in global demand for oil. READ MORE
At $76.43 a barrel, Indian basket of crude oil rises highest since Dec 2014
On a day when the Indian basket of crude oil touched its three-and-a-half year high of $76.31 a barrel, the International Energy Agency (IEA) said in a report that following a growth of 125 kilo barrels per day in 2017, India will see an acceleration in oil demand to 300 kb/d in 2018. This is despite a drop in global demand for oil. READ MORE
8:55 AM
The rupee recovered smartly on Wednesday from the 15-month low reached a day before, as the Reserve Bank of India (RBI) stepped in with heavy dollar sales. READ MORE
Rupee bounces back from 15-month low of 68.11 a dollar on RBI intervention
The rupee recovered smartly on Wednesday from the 15-month low reached a day before, as the Reserve Bank of India (RBI) stepped in with heavy dollar sales. READ MORE
8:48 AM
Today's picks: From Cipla to BPCL, hot stocks to watch on Thursday
Cipla
Current price: Rs 560
Target price: Rs 547
Keep a stop at Rs 563 and go short. Add to the position between Rs 550 and Rs 553. Book profits at Rs 547. READ MORE
8:45 AM
Top trading ideas for today's trade: Buy Bajaj Finance
Stock: BAJAJ FINANCE
Reco.: Buy
CMP: Rs 1,920
On the daily scale, the continuation pattern now looks mature for a move towards 2060. The crossover of its short-term averages augur well for momentum & hence long positions could be deployed with a stop below 1850 for an initial move towards 2060. READ MORE
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First Published: May 17 2018 | 3:30 PM IST
