Sensex today: Sun Pharma, ITC top losers; index dips 188 points on negative global cues
The benchmark indices dropped on Friday tracking global equity markets, while IT and pharma stocks pulled down the indices, ahead of elections in the key state of Karnataka. The Sensex ended at 34,889, down 213.47 points, while the broader Nifty50 closed at 10,614, down 65.65 points.
In the broader market, the BSE Midcap slipped 0.3 per cent, while the BSE Smallcap dipped 0.2 per cent. Market breadth, indicating the overall health of the market, remained negative. On the BSE, 1,565 shares declined, 1,129 shares gained while 131 shares remained unchanged.
Overseas, Asian shares stepped back, while the dollar ran into some profit-taking after a strong week of gains as financial markets turned their attention to looming US payrolls data for fresh catalysts.
The MSCI All-Country World Index, a gauge of stocks across 47 countries, was up less than 0.1 percent on the day. It was set for a 1.2 percent loss this week, its highest since the week ended March 23.
Gains in Europe outweighed earlier losses in Asia, where Indonesian stocks sank as Japan was closed for a holiday. Broad-based gains in European banking stocks helped lift the pan-European STOXX index 0.3 percent.
On Thursday, the Sensex ended at 35,103, down 73.28 points, while the broader Nifty50 closed at 10,679, down 38.40 points.
Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 148.42 crore, and the domestic institutional investors sold stocks worth Rs 578.92 crore.
The benchmark indices dropped on Friday tracking global equity markets, while IT and pharma stocks pulled down the indices, ahead of elections in the key state of Karnataka. The Sensex ended at 34,889, down 213.47 points, while the broader Nifty50 closed at 10,614, down 65.65 points.
In the broader market, the BSE Midcap slipped 0.3 per cent, while the BSE Smallcap dipped 0.2 per cent. Market breadth, indicating the overall health of the market, remained negative. On the BSE, 1,565 shares declined, 1,129 shares gained while 131 shares remained unchanged.
Overseas, Asian shares stepped back, while the dollar ran into some profit-taking after a strong week of gains as financial markets turned their attention to looming US payrolls data for fresh catalysts.
The MSCI All-Country World Index, a gauge of stocks across 47 countries, was up less than 0.1 percent on the day. It was set for a 1.2 percent loss this week, its highest since the week ended March 23.
Gains in Europe outweighed earlier losses in Asia, where Indonesian stocks sank as Japan was closed for a holiday. Broad-based gains in European banking stocks helped lift the pan-European STOXX index 0.3 percent.
On Thursday, the Sensex ended at 35,103, down 73.28 points, while the broader Nifty50 closed at 10,679, down 38.40 points.
Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 148.42 crore, and the domestic institutional investors sold stocks worth Rs 578.92 crore.
Latest Updates
Markets at Close
The Sensex ended at 34,889, down 213.47 points, while the broader Nifty50 closed at 10,614, down 65.65 points.
PC Jeweller share price rallies a whopping 24 per cent; look at what management says
PC Jeweller share price advanced a whopping 24 per cent today, extending previous session's nearly 10 per cent rally after the jewelery firm's managing director Balram Garg denied all reports of raids and investigations by regulatory agencies, assuring investors that all is going well with the company.
The PC Jeweller share price climbed 23.83 per cent to hit an intraday high of Rs 150.40 on the BSE. The company is all set to report its financial results for the March quarter on May 25 and will take a call on buyback too. Garg has clarified no promoters will participate in the buyback process. He also said none of the promoters have sold or pledged any share in PC Jeweller.
Bharti Airtel has been suffering big hits to its revenues since Reliance Jio was born. However, it has sought to fight back and is doing so with some standout call and data plan offers. Needless to say, Airtel share price has been suffering too much to the disappointment of its investors.. So, it has come as a surprise that Bharti Airtel share price rallied today. However, it is not over any new Reliance Jio killer type offers. Airtel share price surged over 3 per cent on Friday following news reports that the Sunil Mittal-led company is planning to raise as much as $1.5 billion by selling about 25 per cent stake in its Africa subsidiary Bharti Airtel International (Netherlands). Airtel expects to raise $150 crore by listing the holding company by early 2019. Significantly, the funds thus generated will be used for strengthening India operations, said Bharti Airtel.
Fast Money: 20 best calls for Intra-day trading today | May 4, 2018
WATCH ZEE BUSINESS VIDEO HERE
Sensex Heatmap at Open
Source: BSE
Markets at Open
At 9:28 am, the Sensex was trading at 35,024, down 78 points, while the broader Nifty50 was ruling at 10,652, down 27 points. In the broader market, the BSE Midcap slipped 0.2 per cent, while the BSE Smallcap remained unchanged.
FAST MONEY: Key intraday ideas for today's trade
Bharti Airtel (Buy)
Target: Rs 412
Stoploss: Rs 400
- The company may sell 25% in its Africa subsidiary
- Stake sale possible via IPO in 2019
- The company expected to raise $150 crore via stake sale
- Funds to be used for strengthening India business
Rupee at Open
Rupee opens at 66.65 per dollar against Thursday’s close of 66.64 per dollar
Asian markets
Asian shares stepped back while the Japanese yen held onto overnight gains in early trading on Friday as financial markets turned their attention to the looming US payrolls data for fresh catalysts. Investors were cautious after a largely weak performance on Wall Street overnight as some disappointing earnings reports offset strong economic data, while bond yields slid after a surprising slowdown in euro zone inflation. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.26 percent, while the dollar dropped 0.2 percent against the yen to 108.98. Indonesian stocks led the declines, falling as much as 1.5 per cent in early trading before recouping some of those losses.
Wall Street on Thursday
The S&P 500 ended lower on Thursday after a choppy session as disappointing earnings reports from several companies offset strong economic data. A sharp drop after the open had pushed the S&P 500 and the Dow Jones Industrial Average below their 200-day moving averages, a key technical indicator of longer-term momentum. But both indexes pared losses to rise back above those levels, with the Dow edging up slightly by the market’s close. The Dow Jones Industrial Average rose 5.17 points, or 0.02 per cent, to 23,930.15, the S&P 500 lost 5.94 points, or 0.23 per cent, to 2,629.73 and the Nasdaq Composite dropped 12.75 points, or 0.18 per cent, to 7,088.15.
The benchmark indices declined on Thursday, dragged down by IT and pharma stocks, while caution prevailed as hopes waned for real progress in Sino-US trade talks due later in the day. The Sensex ended at 35,103, down 73.28 points, while the broader Nifty50 closed at 10,679, down 38.40 points. In the broader market, the BSE Midcap slipped over 1 per cent, while the BSE Smallcap dipped 0.8 per cent. Market breadth, indicating the overall health of the market, remained negative. On the BSE, 1,833 shares declined, 831 shares gained while 135 shares remained unchanged.
Good Morning!
Welcome to Zee Business market liveblog.