Market Update

Friday 18 May 2018

Free Stock Tips , Sensex down over 100 pts; Bajaj Fin extends gains, Bajaj Auto top gainer. By TradeIndia Research 18-05-18



Sensex down over 100 pts; Bajaj Fin extends gains, Bajaj Auto top gainer.


Ashok Leyland, Amara Raja Batteries, Bajaj Auto, Bajaj Holdings, Tata Chemicals, Thermax, Strides Shasun, Alkyl Amines, Alphageo, Arfin India etc


The market remained under pressure, with the Sensex falling more than 100 points amid higher crude oil prices, corporate earnings and uncertainty over formation of government in Karnataka.
All sectoral indices are in the red barring FMCG that gained more than 1 percent. PSU Bank and Pharma indices lost a percent each.
HDFC twins, ICICI Bank and Tata Motors dragged the market while Bajaj Finance, ITC, HUL continued to support the market.
The 30-share BSE Sensex was down 133.60 points at 35,015.52 and the 50-share NSE Nifty fell 35.40 points to 10,647.30.
L&T GeoStructure, also part of L&T Construction, has received an order from the Kalinga International Coal Terminal Paradip for construction of piling, diaphragm wall and berth deck at Paradip Port, Odisha, reports PTI.
Shares of JK Tyre and Industries rose 8 percent intraday as company reported strong numbers in the quarter ended March 2018.

The company's Q4 net profit was 77 percent at Rs 158.87 crore against Rs 89.48 crore in the same quarter last fiscal.

Revenue from operations was down 1 percent at Rs 2,283.97 crore versus Rs 2309.48 crore.
The board has recommended a dividend of Rs 1.50 per equity share of Rs 2 each (75 percent) for the financial year ended March 31, 2018.
The market continued trade lower, with the Sensex falling more than 100 points amid higher crude oil prices and corporate earnings.

All sectoral indices are in the red barring FMCG, with the PSU Bank and Pharma indices losing a percent each.
Bajaj Auto is up nearly 3 percent ahead of March quarter earnings as Profit is expected to jump 30 percent year-on-year basis.

The 30-share BSE Sensex was down 113.74 points at 35,035.38 and the 50-share NSE Nifty fell 24.30 points to 10,658.40.But markets remained below multi-year highs from the previous day as surging output from the United States is expected to offset at least some of the shortfalls.

Brent crude futures were at $79.53 per barrel, up 0.29 percent from their last close. Brent broke through $80 for the first time since November 2014 on Thursday.
US West Texas Intermediate (WTI) crude futures were at USD 71.62 a barrel, up 0.18 percent from their last settlement, reports CNBC.

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