Sensex ends below 35K, sheds 216 pts; Nifty Bank loses 359 pts

Market Closing: Benchmark indices snapped three-day winning streak, dented by weak global cues and sharp fall in rupee.

Banking & financials are the major losers that pulled the market lower in trade today.

The 30-share BSE Sensex dropped 216.24 points or 0.61 percent to Rs 34,949.24 and the 50-share NSE Nifty fell 55.40 points to 10,633.30 while Nifty Midcap was down 0.35 percent.

Bank of India, PC Jeweller, Bank of Baroda, Balrampur Chini, HCC, Canara Bank and Strides Shasun were under pressure.

Ruchi Soya, Ashok Leyland, Idea Cellular, SAIL and BHEL gained up to 4 percent.

Sensex, Nifty consolidate after 3-day rally; weaker rupee lifts IT stocks

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.

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.

Reference By- https://www.moneycontrol.com/news/business/markets/market-live-sensex-nifty-consolidate-after-3-day-rally-weaker-rupee-lifts-it-stocks-2577607.html

Closing Bell: Sensex up over 300 pts, midcaps underperform; IT zooms, ONGC dips

Benchmark indices rose, driven by IT stocks, such as, Infosys and TCS on the back of a weak rupee. The IT index has gained 18 percent so far this year. The rupee has weakened by more than 7 percent so far this year, as surging crude oil prices weigh on India, the world’s third-largest importer, raising fears that soaring costs could drive up inflation and widen the trade deficit.

Meanwhile, ONGC ended the day 4 percent lower after falling 10 percent in intraday trade after the media reports suggested that the government may ask the company to share the burden to reduce fuel price.

We continue to be positive on the overall market and recommend buying stocks in the private banks, consumption space where earnings momentum are strong. Some of the stocks which we like are Godrej Agrovet, Bajaj Finance, Kotak Bank and Relaxo Footwear.

Reference By- https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-up-over-300-pts-midcaps-underperform-it-zooms-ongc-dips-2574767.html

Sensex rises 262 pts, Nifty above 10,600 on oil correction and strong rupee

Benchmark indices extended rally for the second consecutive session as the Sensex was up 261.76 points at 34,924.87, backed by banking & financials, oil, metals and technology stocks.

The 50-share NSE Nifty gained 91.30 points at 10,605.20 while Nifty Midcap index rallied 2 percent, outperforming frontliners.

Page Industries, Castrol, Adani Power, Avenue Supermarts, Cadila Healhcare, Gateway DIstriparks and MCX surged up to 20 percent.

Granules India fell 5 percent and IDBI Bank declined 2 percent.

The rupee has recovered from the intraday low of 68.28, currently trading at 67.77 against the US dollar, up 57 paise.

Referance By- https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-rises-262-pts-nifty-above-10600-on-oil-correction-and-strong-rupee-2575677.html

Market Live: Sensex up 150 pts, Nifty above 10,550; TCS hits Rs 7 lakh cr in market cap

Benchmark indices extended opening gains, with the Sensex rising 146.50 points to 34,809.61 and the Nifty gaining 41.50 points at 10,555.40.

About two shares advanced for every share rising on the BSE.

TCS became the most valued listed company in India, crossing the market cap of Rs 7 lakh crore.

The Railways Strategic Business Group of L&T Construction’s Transportation Infrastructure business has won a major design & build order from the Dhaka Mass Transit Company Ltd. (DMTC) worth Rs 3191 crore for Electrical & Mechanical Systems Package of Dhaka Mass Rapid Transit Development Project (MRT – Line 6).

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Referance By- https://www.moneycontrol.com/news/business/markets/market-live-sensex-up-150-pts-nifty-above-10550-tcs-hits-rs-7-lakh-cr-in-market-cap-2575677.html

Sensex sheds 306 pts, Nifty ends below 10,500 on weaker rupee

Benchmark indices after yesterday's breather resumed selling pressure again, with the Sensex losing more than 300 points on weaker rupee and global weakness.

The 30-share BSE Sensex was down 306.33 points or 0.88 percent at 34,344.91 and the 50-share NSE Nifty fell 106.30 points or 1.01 percent to 10,430.40.

About three shares declined for every two shares rising on the BSE.

Nifty Midcap index fell over 100 points.

Ceat, PFC, MRPL, REC, Balrampur Chini Mills, SAIL, Motherson Sumi, JSPL, GMR Infrastructure and Union Bank declined up to 7 percent.

Referance By- https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-sheds-306-pts-nifty-ends-below-10500-on-weaker-rupee-2573851.html

Mid-cap stocks bleed, Nifty ends lower for 5th consecutive session

Markets witnessed heavy selling pressure after opening the session marginally in the green. Mid-cap stocks bore much of the brunt with Nifty Mid-cap 100 index ending the session 1.70% lower.

Bank Nifty relatively outperformed due to the strong gains in PSU Bank stocks. Bank of India, PNB and Union Bank led the rally ending 4.82%, 4.55% and 4.44% higher respectively. Market breadth ended in favor of declines, with advance/decline ratio closing at 1:4x

Tracking the derivative data points, Nifty Futures and Bank Nifty Futures witnessed a surge in open interest to the tune of ~1.79 lakh shares and ~84 thousand shares consisting of mainly short positions. 

Tracking the Nifty Index Options, call writing was witnessed in at the money and major out of the money strikes with 10600CE and 10700CE adding ~15.25 lakh shares and ~6.62 lakh shares respectively, while 10500PE added 5.41 lakh shares acting as the current support for the market. 

Referance By - https://www.indiainfoline.com/article/commentaries-equity-post-market/mid-cap-stocks-bleed-nifty-ends-lower-for-5th-consecutive-session-118052100030_1.html