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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 15 MAY 2018

market-wrap-up

Sensex ends flat, midcaps melt amid uncertainty over Karnataka election results

The Benchmark indices ended flat after the BJP is likely to fail to reach half-way mark in Karnataka, though it is likely to be emerging as the largest party with 104 seats.

The 30-share BSE Sensex was down 12.77 points at 35,543.94 and the 50-share NSE Nifty fell 4.70 points to 10,801.90.

Nifty Midcap index was down 179 points.

Punjab National Bank down 6 percent after Q4 earnings.

Karnataka Bank, Jet Airways, Dena Bank, Allahabad Bank, PTC India Financial Services, HDFC Standard Life, Adani Transmission, Indiabulls Real, NCC, Balaji Telefilms, Hathway Cables, Bajaj Hindusthan, KEC International, JK Paper and Tata Global Beverages down up to 10 percent.

Dr Lal PathLabs, Avenue Supermarts and Fortis Healthcare gained up to 10 percent.

HEADLINES OF THE DAY

Karnataka Bank share price fell 4 percent after profit for the March quarter dropped sharply to Rs 11 crore compared to Rs 138.4 crore.

Punjab National Bank has posted highest ever quarterly loss at Rs 13,417 crore for the January-March period of 2018.

Texmaco Rail has reported profit at Rs 22.9 crore for the March quarter.

Pharma major Lupin has posted a loss of Rs 783.5 crore for the quarter ended March 2018, due to one-time loss of Rs 1,464.3 crore on Gavis Group acquisition.

Vodafone India posted operating profit of Rs 9,805 crore for the financial year 2017-18, ended March 31.

Auto component maker JBM Auto has reported a massive 61.1 percent growth year-on-year in profit at Rs 23.6 crore for the quarter ended March 2018.

UPCOMING RESULTS: –  PRATAP SNACKS, SAYAJI IND, BIRLA CORP, TATA STEEL, TVS MOTORS, NESCO, AXIS BANK, ALEMBIC PHARMA, AARTI DRUGS, MUTHOOT FIN, JK LAXMI CEMENT, JSW STEEL, ITC, DB CORP, HINDALCO

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