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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 14 MAY 2018

market-wrap-up

Sensex, Nifty end flat as traders await Karnataka election results

The market ended flat as traders maintained cautious stance ahead of Karnataka election results due tomorrow. The 30-share BSE Sensex was up 20.92 points at 35,556.71 and the 50-share NSE Nifty rose 0.10 points to 10,806.60.

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

Nifty Midcap was down over 1.3 percent.

IDBI Bank, IOB, Allahabad Bank, Vijaya Bank, Dena Bank, Ujjivan Financial, Shriram Transport, PTC India Financial, Tata Global, Kesoram Industries, Delta Corp, Jet Airways, Ashok Leyland, PTC, Reliance Naval, Reliance Infrastructure, Reliance Power, Adani Power, Jaiprakash Associates and PC Jeweller were down up to 14 percent.

OBC, Sun TV Network, South Indian Bank, Parag Milk Foods, Saregama India and Gujarat Gas gained up to 11 percent.

HEADLINES OF THE DAY

Air conditioner maker Blue Star has reported a 37.8 percent growth year-on-year in consolidated profit at Rs 51.2 crore for the quarter ended March 2018.

JB Chemicals declines 4% on USFDA inspection Gujarat facility.

Majesco share price rallied more than 4 percent after the IT company reported profit at Rs 7.9 crore for the quarter.

South Indian Bank has reported massive 51.1 percent growth year-on-year in net profit at Rs 114.1 crore.

UPCOMING RESULTS: – LUPIN, SHAKTI PUMPS, SHEMAROOENT, JBM AUTO, BRITANNIA, MANGALAM CEMENT, PNB, CG CONSUMER, CLARIENT CHEM, SUVEN, JINDAL POLYFILM

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