Sensex, Nifty open mildly lower; Rel Comm up 17%, Bajaj Finance extends rally - 23 May 2018

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Indian Indices:                              

The Nifty recouped early losses but managed to snap its 5-days losing streak on Tuesday. The Nifty managed to snap its 5-days losing streak on Tuesday. The index moved in a narrow range of nearly 70 points. The Nifty index opened at 10,518 and slipped to an intra-day low of 10,490 but then bulls took charge and pushed the index back above 10,500. The index made an intraday high of 10,558 before closing the day 20 points higher at 10,536.



Global Market:


• Asian markets- Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 1.08% while the Hang Seng is down 0.95%. The Shanghai Composite is not trading.

• US Markets: The Dow Jones Industrial Average fell 178.88 points, or 0.72 percent, at 24,834.41, the S&P 500 lost 8.57 points, or 0.31 percent, to 2,724.44 and the Nasdaq Composite dropped 15.58 points, or 0.21 percent, to 7,378.46.

• European markets- European markets finished higher today with shares in Germany leading the region. The DAX is up 0.71% while London's FTSE 100 is up 0.23% and France's CAC 40 is up 0.05%.



Major Headlines of the day:


• L&T Technology Q4: Net profit was up 25.8 percent at Rs 159.8 crore and revenue was up at Rs 1,054.8 crore

• National Standard Q4: Net profit was at Rs 4.6 crore and revenue was at Rs 11 crore.

• Healthcare Global Q4: Net loss at Rs 20 lakh and revenue was up 22 percent at Rs 222.3 crore.

• Bata Q4: Net profit was up 45% at Rs 52.1 crore and revenue was up 6.9% at Rs 632.3 crore.

• HPCL Q4 net profit down 10.4% at Rs 1,747.9 crore, revenue up 5.8% at Rs 60,801 crore, QoQ.

• Cipla: The firm reported a net profit of Rs 153.8 crore.

• Sonata Software: Profit for the March quarter has grown 10 percent at Rs 54.3 crore.

•State Bank of India to sell 3-5 percent stake in general insurance JV in FY19.

•Dalmia Bharat not to revise bid for Binani Cement

•Apollo Hospitals to adopt Watson platform for oncology, genomics


Trend in FII flows:-  The FIIs were Net Value of Rs  -1651.63 in the cash segment TUESDAY while the DIIs were Net Value of Rs 1496.83 as per the provisional figures.


TODAY ON EARNING FRONT:-   L&T INFOTECH, GRASIM, NATCO PHARMA, FINOLEX, BAJAJ ELECTRIC, GODREJ IND, JET AIRWAYS, MOTHERSON SUMI, INDIAN HUME, KPIT TECH, WELSPUN.


Securities in Ban For Trade Date 23-MAY-2018 :- 

1. BEML
2. DHFL
3. JETAIRWAYS
4. JUSTDIAL
5. RCOM

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