Sensex, Nifty open mildly lower: Telecom pack slips;Jefferies slashes target to Rs 275
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.
elecom stocks were trading mixed during Wednesday's trade.
However, losses in stocks such as GTL Infrastructure (down 1.82 per cent) and Sterlite TechnologiesNSE -1.87 % (down 1.65 per cent) were keeping the sectoral index slightly down.
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.
elecom stocks were trading mixed during Wednesday's trade.
However, losses in stocks such as GTL Infrastructure (down 1.82 per cent) and Sterlite TechnologiesNSE -1.87 % (down 1.65 per cent) were keeping the sectoral index slightly down.
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| Capitalstars financial research pvt ltd |
Jefferies said that earnings may head even lower in FY19 and the outlook looks more challenging. Auto fuel prices rising rapidly but margins soft on higher crude & weak rupee, the brokerage said. It expects standalone EPS to fall 26 percent year on year in FY19.
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
Securities in Ban For Trade Date 23-MAY-2018 :-
1. BEML
2. DHFL
3. JETAIRWAYS
4. JUSTDIAL
5. RCOM
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