Market Live: Sensex, Nifty consolidate after 3-day rally; weaker rupee lifts IT stocks. Most Asian markets traded lower as investors focus on Italian politics and the fall in oil prices.
Most Asian markets traded lower as investors focus on Italian politics and the fall in oil prices.
Buzzing: Share price of Housing & Urban Development Corporation (HUDCO) rose 5 percent as company recovered a substantial amount of Rs 317 crore in an old loan default case.
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This is to inform you that, an old default case of a borrower has been substantially resolved after prolonged litigation, where HUDCO has received an amount of Rs 317 crore, against the dues of Rs 469.38 crore as on March 31, 2018, company said in release.
The meeting of board of directors of the company is proposed to be held on May 30, 2018 to consider, approve and take on record the audited financial statements (standalone and consolidated) for quarter & year ended March 31, 2018.
Market Update: The market consolidates after sharp rally in previous three consecutive sessions, as investors monitor the movement in rupee and crude oil prices.
The broader markets also traded in line with frontliners while all sectoral indices are in the red barring IT and Auto.
Technology stocks are on buyers' radar after the rupee falls 28 paise to 67.70 against the US dollar.
The 30-share BSE Sensex rose 6.16 points to 35,171.64 and the 50-share NSE Nifty gained 1.80 points at 10,690.50.
Buzzing: Rural Electrification Corporation (REC) share price declined 2 percent after it reported a 37 percent decrease YOY in its March quarter net profit at Rs 834.79 crore, missing estimates due to an increase in provisions for bad loans.
A Reuters poll of equity analysts had estimated profits to fall marginally to Rs 1224.3 crore in the fourth quarter of FY18.
The company had posted profit of Rs 1319.2 crore in the fourth quarter of last fiscal.
Interest income saw a 5 percent drop YoY in Q4 to Rs 5,444.59 crore. Other income dropped to Rs 33.03 crore in Q4 from Rs 131.70 crore in the year ago period.
Market Opening: Benchmark indices opened mildly lower on Tuesday morning due to profit booking after three-day run up.
The 30-share BSE Sensex fell 56.44 points to 35,109.04 and the 50-share NSE Nifty declined 21.90 points to 10,666.80.
L&T, Tech Mahindra, TCS, Infosys, HCL Technologies, M&M, Bajaj Finance and Coal India are gainers.
Bank of India and Aurobindo Pharma plunged 5 percent each.
Vedanta, Sun Pharma, Lupin and SBI are under pressure.
Nifty Bank lost 130 points and Nifty Midcap shed 65 points.
Manpasand Beverages slipped 20 percent for second consecutive session.
Venus Remedies, DB Realty, Kwality, Gravita, Mercator and Fortis Healthcare fell up to 7 percent.
Oil India, NMDC, Bajaj Hindusthan, Dhampur Sugar, Dwarikesh Sugar, Reliance Communications and Edelweiss Financial gained 2-5 percent.
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Market Update: The market consolidates after sharp rally in previous three consecutive sessions, as investors monitor the movement in rupee and crude oil prices.
The broader markets also traded in line with frontliners while all sectoral indices are in the red barring IT and Auto.
Technology stocks are on buyers' radar after the rupee falls 28 paise to 67.70 against the US dollar.
The 30-share BSE Sensex rose 6.16 points to 35,171.64 and the 50-share NSE Nifty gained 1.80 points at 10,690.50.
Buzzing: Rural Electrification Corporation (REC) share price declined 2 percent after it reported a 37 percent decrease YOY in its March quarter net profit at Rs 834.79 crore, missing estimates due to an increase in provisions for bad loans.
A Reuters poll of equity analysts had estimated profits to fall marginally to Rs 1224.3 crore in the fourth quarter of FY18.
The company had posted profit of Rs 1319.2 crore in the fourth quarter of last fiscal.
Interest income saw a 5 percent drop YoY in Q4 to Rs 5,444.59 crore. Other income dropped to Rs 33.03 crore in Q4 from Rs 131.70 crore in the year ago period.
Market Opening: Benchmark indices opened mildly lower on Tuesday morning due to profit booking after three-day run up.
The 30-share BSE Sensex fell 56.44 points to 35,109.04 and the 50-share NSE Nifty declined 21.90 points to 10,666.80.
L&T, Tech Mahindra, TCS, Infosys, HCL Technologies, M&M, Bajaj Finance and Coal India are gainers.
Bank of India and Aurobindo Pharma plunged 5 percent each.
Vedanta, Sun Pharma, Lupin and SBI are under pressure.
Nifty Bank lost 130 points and Nifty Midcap shed 65 points.
Manpasand Beverages slipped 20 percent for second consecutive session.
Venus Remedies, DB Realty, Kwality, Gravita, Mercator and Fortis Healthcare fell up to 7 percent.
Oil India, NMDC, Bajaj Hindusthan, Dhampur Sugar, Dwarikesh Sugar, Reliance Communications and Edelweiss Financial gained 2-5 percent.
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Oil Price Hike: Petrol and diesel prices continue to soar and touched another peak on Monday. Petrol was hiked by 16 paise to Rs 86.24 per litre in Mumbai.
This is the 16th straight hike in a row. Diesel prices on the other hand, were hiked by 15 paise to Rs 73.79 per litre in Mumbai. Petrol prices in Delhi were increased by 16 paise to Rs 78.43 per litre and diesel by 14 paise to Rs 69.31 per litre.
Since the dynamic pricing system resumed on May 14, petrol and diesel prices have risen by Rs 3.8 and Rs 3.38 respectively in the last 16 days in Delhi.
This is the 16th straight hike in a row. Diesel prices on the other hand, were hiked by 15 paise to Rs 73.79 per litre in Mumbai. Petrol prices in Delhi were increased by 16 paise to Rs 78.43 per litre and diesel by 14 paise to Rs 69.31 per litre.
Since the dynamic pricing system resumed on May 14, petrol and diesel prices have risen by Rs 3.8 and Rs 3.38 respectively in the last 16 days in Delhi.
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