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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 16 MAY 2018

market-wrap-up

Sensex dips 156 pts, Nifty ends below 10,800; RIL, ICICI, HDFC twin drag

Benchmark indices closed sharply lower on Wednesday as uncertainty remained over the formation of government in Karnataka.

The 30-share BSE Sensex was down 156.06 points at 35,387.88 and the 50-share NSE Nifty fell 60.80 points to 10,741.10.

Reliance Industries, ICICI Bank, Cipla, GAIL, HPCL and Hindalco were under pressure while ITC, HUL, Wipro and TCS gained up to 4 percent.

Nifty Midcap index was down 14 points.

PNB, Syndicate Bank, Bank of Baroda, Century Plyboards, Morepen Labs, Adani Transmission, Reliance Communications and Shakti Pumps fell up to 16 percent.

HEADLINES OF THE DAY

Century Plyboards Q4 results: The company has reported 35 percent decline in its Q4 net profit at Rs 36 crore, while revenue was up 11.4 percent at Rs 544.1 crore.

Two-wheeler maker TVS Motor Company has reported a healthy growth of 30.6 percent year-on-year in profit at Rs 165.6 crore fro the quarter ended March.

ITC share price gained a percent after March quarter profit grew by 9.9 percent year-on-year to Rs 2,933 crore.

Tata Steel consolidated net profit of Rs 2,552 crore in the period ending March 31, 2018.

Hindalco Q4 profit drops 25% to Rs 377 crore.

DB Corp Q4 profit falls 11% on weak operational performance; revenue grows 10%.

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