Sensex, Nifty open mildly lower; Rel Comm up 17%, Bajaj Finance extends rally

Indian Indices:                             The Nifty50 Benchmark indices started off Friday's trade mildly lower despite most Asian stocks traded in the green. The 30-share BSE Sensex was down 59.51 points at 35,089.61 and the 50-share NSE Nifty fell 17.90 points to 10,664.80. Sun Pharma, Bajaj Finance, Bajaj Auto, Tech Mahindra, Yes Bank, Eicher Motors, ONGC, Coal India, Lupin, Vedanta and Power Grid were early gainers. IOC, HPCL, BPCL, Wipro, Indiabulls Housing Finance, Cipla, UltraTech Cement, ICICI Bank and Asian Paints were under pressure. Nifty Midcap index was down 70 points. Voltas, Central Bank of India, Jyothy Labs, SRF, Crompton Consumer, TVS Motor Company, Biocon and Balkrishna Industries fell up to 5 percent.

Global Market:

·       Asian markets- Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.25% while the Hang Seng is up 0.10%. The Shanghai Composite is not trading.

·       US Markets: The Dow Jones Industrial Average fell 54.95 points, or 0.22 percent, to 24,713.98, the S&P 500 lost 2.33 points, or 0.09 percent, to 2,720.13 and the Nasdaq Composite dropped 15.82 points, or 0.21 percent, to 7,382.47.

·       European markets- European markets finished higher today with shares in France leading the region. The CAC 40 is up 0.98% while Germany's DAX is up 0.91% and London's FTSE 100 is up 0.70%.

Major Headlines of the day:

·        Coffee Day Q4: Profit up 95 percent at Rs 25.2 crore versus Rs 12.9 crore; revenue up 26 percent at Rs 1,297 crore versus Rs 1,029 crore (YoY)

·        Voltas Q4: Profit down 3.1 percent at Rs 194.2 crore versus Rs 200.5 crore; revenue down 0.5 percent at Rs 2,048.4 crore versus Rs 2,058.3 crore (YoY)

·        Bajaj Finserv Q4: Consolidated profit up 28 percent at Rs 685 crore versus Rs 535 crore; revenue up 25 percent at Rs 8,829 crore versus Rs 7,040 crore (YoY)

·        Quess Corp Q4: Consolidated profit at Rs 75.75 crore versus Rs 33.34 crore; revenue at Rs 1,890.75 crore versus Rs 1,239.5 crore (YoY)

·        Central Bank of India Q4: Loss widens to Rs 2,113.5 crore versus loss at Rs 591.77 crore, net interest income falls to Rs 1,500 crore versus Rs 1,715.5 crore (YoY); gross NPA jumps to 21.48 percent versus 18.08 percent, net NPA rises to 11.10 percent versus 9.45 percent (QoQ); provisions 4,832.5 crore versus Rs 3,081.6 crore (QoQ) and Rs 2,022.70 crore (YoY).

·        Balkrishna Industries Q4: Profit up at Rs 193.62 crore versus Rs 137.9 crore; revenue rises to Rs 1,231.8 crore versus Rs 1,001.2 crore (YoY).

·        JK Tyre & Industries Q4: Profit up at Rs 158.9 crore versus Rs 89.5 crore; revenue rises to Rs 2,284 crore versus Rs 2,152.49 crore (YoY)

·        SRF Q4: Profit at Rs 123.9 crore versus Rs 129.22 crore; revenue at Rs 1,612.3 crore versus Rs 1,325.81 crore (YoY)

Trend in FII flows:-  The FIIs were Net Value of Rs  -830.94 in the cash segment THURSDAY while the DIIs were Net Value of Rs 428.92 as per the provisional figures.

TODAY ON EARNING FRONT:-   BAJAJ AUTO, DALMIA BHARAT, BAJAJ HOLDINGS, AMARA RAJA, TATA CHEMICALS, KIRLOSKAR OIL, KITEX, KALYANI STEELS, ASHOK LEYLAND

Securities in Ban For Trade Date 18-MAY-2018 :-

1  DHFL

     2  Jet Airways,

     3   Jaiprakash Associates,

    4 Just Dial, PC

    5  Jeweller and

    6  Wockhardt

Get more details here:-

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