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PRAVIN RATILAL SHARE
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Market ends with modest losses
(15:36, 04 Jun 2018)

Key indices settled with modest losses as weakness in banks and FMCG pivotals weighed. The barometer index, the S&P BSE Sensex, fell 215.37 points or 0.61% to 35,011.89, as per the provisional closing data. The Nifty 50 index fell 67.70 points or 0.63% to 10,628.50, as per the provisional closing data.

Investors remained on the sidelines ahead of Reserve Bank of India's (RBI) monetary policy review meeting beginning today. The RBI's Monetary Policy Committee (MPC) will meet between 4-6 June 2018 for the second bi-monthly monetary policy statement for 2018-2019. The resolution of the MPC will be unveiled at 14:30 pm on Wednesday, 6 June 2018.

After opening higher, indices declined in morning trade. Indices recovered and hovered near flat line in early afternoon trade. Shares hit fresh intraday low in late trade as selling intensified.

The Sensex rose 328.33 points, or 0.93% at the day's high of 35,555.59 in early trade. The index fell 245.01 points, or 0.70% at the day's low of 34,982.25 in late trade. The Nifty rose 74.10 points, or 0.69% at the day's high of 10,770.30 in early trade. The index fell 77.85 points, or 0.73% at the day's low of 10,618.35 in late trade.

Among secondary barometers, the BSE Mid-Cap index fell 0.82%. The BSE Small-Cap index fell 2.09%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On BSE, 566 shares rose and 2,122 shares fell. A total of 184 shares were unchanged.

HDFC Bank (down 2.83%), Bharti Airtel (down 2.67%), Power Grid Corporation of India (down 2.19%), Adani Ports and Special Economic Zone (down 2.04%), Hindustan Unilever (down 1.7%) and State Bank of India (down 1.44%), were the major Sensex losers.

Infosys (up 1.57%), Mahindra & Mahindra (up 1.49%), Tata Steel (up 1.34%), Reliance Industries (up 1.09%) and TCS (up 0.85%), were the major Sensex gainers.

Dr Reddy's Laboratories gained 2.96% after the company announced that the audit of its API Srikakulam Plant (SEZ), Andhra Pradesh by the USFDA, has been completed with no observations. The announcement was made on Saturday, 2 June 2018.

Overseas, European stocks were trading higher as optimism for the world's largest economy helped investors put concerns over protectionism to one side. Asian stocks were trading higher, tracking gains seen on Wall Street on Friday, 1 June 2018. US stock-market indices jumped on Friday, following a solid jobs data for May, while shrugging off concerns over Italian politics and trade wars.

The US labor market remains strong with 223,000 new jobs created in May, while the unemployment rate fell to an 18-year low of 3.8%. Wage growth was modest, with the yearly rate of pay rising to 2.7% from 2.6%. Receding fears about political upheaval in Italy also helped boost sentiment.

Despite the positive mood, trade concerns continued to linger after US-China trade talks yielded no major breakthroughs. China threatened that previous trade agreements negotiated by the countries will not take effect if the Trump administration goes ahead with a planned tariff increase.

US allies also took aim during a G-7 finance leaders meeting at metals tariffs imposed by the Trump administration.

On the US data front, the Institute for Supply Management said Friday that its manufacturing index rose to 58.7%, up 1.4% from April and a two-month high.

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Adani Ports & Special Economic Zone Ltd     407.55   Up   21.60 (5.60%)   Asian Paints Ltd     1,367.75   Down   -0.70 (-0.05%)   Axis Bank Ltd     776.40   Down   -2.75 (-0.35%)   Bajaj Auto Ltd     3,065.00   Up   17.80 (0.58%)   Bajaj Finance Ltd     3,377.75   Down   -71.15 (-2.06%)   Bajaj Finserv Ltd     8,013.30   Down   -208.25 (-2.53%)   Bharat Petroleum Corporation Ltd     384.35   Up   0.10 (0.03%)   Bharti Airtel Ltd     338.80   Up   3.65 (1.09%)   Bharti Infratel Ltd     273.85   Up   4.50 (1.67%)   Britannia Industries Ltd     2,838.70   Down   -13.95 (-0.49%)   Cipla Ltd     564.75   Up   11.75 (2.12%)   Coal India Ltd     244.15   Up   2.90 (1.20%)   Dr Reddys Laboratories Ltd     2,637.30   Down   -20.45 (-0.77%)   Eicher Motors Ltd     20,321.15   Down   -903.50 (-4.26%)   GAIL (India) Ltd     337.95   Up   1.05 (0.31%)   Grasim Industries Ltd     886.55   Up   29.20 (3.41%)   HCL Technologies Ltd     1,066.40   Up   5.40 (0.51%)   HDFC Bank Ltd     2,332.10   Down   -73.65 (-3.06%)   Hero Honda Motors Ltd     2,743.50   Up   43.85 (1.62%)   Hindalco Industries Ltd     191.75   Down   -6.25 (-3.16%)   Hindustan Unilever Ltd     1,753.85   Down   -14.45 (-0.82%)   Housing Development Finance Corporation Ltd     2,114.40   Down   -24.40 (-1.14%)   ICICI Bank Ltd     410.85   Up   5.50 (1.36%)   Indiabulls Housing Finance Ltd     783.55   Down   -1.00 (-0.13%)   Indian Oil Corporation Ltd     154.20   Down   -1.25 (-0.80%)   IndusInd Bank Ltd     1,598.75   Up   79.85 (5.26%)   Infosys Technologies Ltd     701.05   Down   -8.70 (-1.23%)   ITC Ltd     288.20   Down   -11.55 (-3.85%)   JSW Steel Ltd     275.95   Down   -1.00 (-0.36%)   Kotak Mahindra Bank Ltd     1,499.75   Up   4.50 (0.30%)   Larsen & Toubro Ltd     1,476.10   Up   15.00 (1.03%)   Mahindra & Mahindra Ltd     639.50   Down   -1.05 (-0.16%)   Maruti Suzuki India Ltd     6,929.25   Up   29.45 (0.43%)   NIFTY (S&P CNX)     11,657.05   Down   -80.85 (-0.69%)   NTPC Ltd     129.85   Up   0.25 (0.19%)   Oil & Natural Gas Corpn Ltd     174.15   Down   -2.85 (-1.61%)   Power Grid Corporation of India Ltd     184.65   Up   2.55 (1.40%)   Reliance Industries Ltd     1,333.90   Down   -6.50 (-0.48%)   State Bank of India     342.20   Up   1.10 (0.32%)   Sun Pharmaceuticals Industries Ltd     412.95   Down   -8.25 (-1.96%)   Tata Consultancy Services Ltd     2,054.05   Down   -27.70 (-1.33%)   Tata Motors Ltd     175.15   Down   -3.95 (-2.21%)   Tata Steel Ltd     464.70   Down   -8.30 (-1.75%)   Tech Mahindra Ltd     743.30   Down   -6.65 (-0.89%)   Titan Company Ltd     1,220.25   Down   -20.85 (-1.68%)   UltraTech Cement Ltd     4,683.95   Up   36.60 (0.79%)   UPL Ltd     1,012.20   Down   -2.45 (-0.24%)   Vedanta Ltd     157.35   Down   -8.95 (-5.38%)   Wipro Ltd     282.20   Down   -0.90 (-0.32%)   Yes Bank Ltd     139.75   Up   2.20 (1.60%)   Zee Entertainment Enterprises Ltd     360.45   Up   18.25 (5.33%)      NSE Data  -  www.nseindia.com (5 minutes delayed) syndicated by www.cmots.com

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