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Sensex Ends Volatile Session On A Flat Note, FMCG Shares Outperform

HUDCO made a solid debut on stock markets. Its shares surged as much as 30 per cent to Rs 78 against issue price of Rs 60.
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Sensex Ends Volatile Session On A Flat Note, FMCG Shares Outperform
Sensex and Nifty ended today's volatile session on a flat note as gains in FMCG and banking heavyweights such as ITC, Hindustan Unilever and State Bank of India were offset by losses in HDFC, TCS, Reliance Industries, Maruti Suzuki and Mahindra & Mahindra. Earlier in the day, the Sensex rose as much as 278 points to hit fresh all-time high of 30,712. However, due to profit-booking at record highs the mood on the Dalal Street turned volatile and from the day's highest level, the Sensex fell 374 points, before ending on a flat note.

The Sensex rose 30 points to close at 30,465 and Nifty closed 1.55 points lower at 9,428.

From the Nifty basket of shares, 31 ended lower while 20 ended higher. ITC, Yes Bank, Axis Bank, Hindustan Unilever, State Bank of India, Tata Motors, Lupin, Cipla were also among the gainers. On the other hand, Asian Paints, Eicher Motors, Hindalco, Indiabulls Housing Finance, TCS, HDFC, Wipro and Indian Oil were among the losers.

The broader markets underperformed the benchmark indices. The BSE mid-cap index fell 0.72 per cent and small-cap index declined 0.87 per cent.

The overall market breadth was extremely bearish as 1,786 shares ended lower while 962 closed higher on the BSE.

Here are the key highlights from today's session:

3:06 pm: Tata Power Co Ltd posted a loss in the fourth quarter on Friday compared with a profit a year earlier as it incurred a one-time charge towards contractual obligations.

The company posted a consolidated net loss for the quarter ended March 31 of Rs 247 crore, compared with a profit of Rs 82.95 crore a year earlier.

2:47 pm: India Grid Trust's up to Rs 2,250 crore initial public offering was fully subscribed on the last day of the sale, exchange data showed on Friday.

The company is selling shares between Rs 98 to 100 per share, and will become the second infrastructure investment trust to list in the country after IRB InvIT Fund had a tepid debut on Thursday.

2:24 pm: Shares of Sintex Ltd fall 3.4 per cent to Rs 117 after company reported that its net profit in March quarter came in at Rs 50.42 crore which was lower than Street's estimates.

2:03 pm: HT Media shares fall as much as 7.65 per cent to hit intraday low of Rs 79.65 after the company reported that its net profit in March quarter fell to Rs 7.27 crore from Rs 22.43 crore in the same period last year.

1:57 pm: Blue Dart, Indoco Remedies, BASF, Take Solutions, Rushil Decor, Shakti Pumps and CESC were witnessing spurt in trading volumes in today's session.

1:43 pm: Auto shares were witnessing selling pressure. The BSE AUto index was down 1.2 per cent; Cummins India, Maruti Suzuki, Mahindra & Mahindra, Eicher Motors, MRF and Bosch were among the losers from this space.

1:29 pm: PSP Projects initial public offer fully subscribed on day 3, according to NSE data.

1:03 pm: The overall market breadth turned extremely bearish as 1,744 shares were declining while 802 were advancing on the BSE.

12:30 pm: State Bank of India, the country's top lender by assets, reported fourth-quarter net profit more than doubled in line with expectations, while its bad loan ratio narrowed from the previous quarter. SBI's standalone net profit, not including contributions from subsidiaries, jumped to Rs. 2,815 crore for the three months to March 31 from Rs. 1,264 crore a year earlier.

12:21 pm: Stock markets trade with negative bias. Sensex falls 50 points to 30,384 and Nifty was at 9,404, down 25 points.

12:06 pm: Broader markets underperform benchmark indices. BSE mid-cap index falls 1.18 per cent and small-cap index slips 0.85 per cent.

11:41 am: Stock markets turn flat in late noon deals. Sensex up 45 points at 30,480 and Nifty up 6 points at 9,435.

11:38 am: Auto IT, consumer durables, capital goods and pharma shares face selling pressure on account of profit booking.

11:18 am: Stock markets off day's high on selling pressure in IT shares. Sensex 110 points at 30,545 and Nifty up 24 points at 9,453.

10:57 am: IT shares were witnessing buying interest. The BSE IT index was down 0.82 per cent; TS, Infosys, Wipro, Tech Mahindra, HCL Technologies, Hexaware and Tanla Solutions were among the losers.

10:48 am: Market breadth was extremely bullish as 1,562 shares were advancing while 629 were declining on the BSE.

10:31 am: Tata Coffee shares surge 7 per cent to hit intraday high of Rs 139 after the company post market hours on Thursday reported that its net profit in the March quarter rose over three times to Rs 46 crore from Rs 13.65 crore during the same period last year.

10:20 am: State Bank of India shares were trading 2 per cent higher ahead of March quarter earnings. Analysts expect SBI to report net profit of Rs 2,628 crore on net interest income of Rs 15,448 crore. Gross non-performing assets as a percentage of total advances are likely to come in at 7.1 per cent compared with 7.2 per cent in the previous quarter.

10:04 am: HUDCO makes solid debut on stock markets shares surge as much as 30 per cent to Rs 78 against issue price of Rs 60.

9:57 am: HUDCO shares to list on exchanges today. HUDCO shares up 22 per cent at 73.45 in pre-market session.

9:46 am: The broader markets were trading in-line with the benchmark indices. The BSE mid-cap index was up 0.72 per cent and the small-cap index jumped 1.13 per cent. Colgate Palmolive was the top gainer from the mid-cap space, up 4.75 per cent at Rs 1,026 after the GST council on Thursday said toothpaste will be taxed at 5 per cent under GST compared with current rate of 22-26 per cent. Marico, Tata Global Beverages, Adani Power, ABB, Bank of India, Petronet LNG and Emami were also among the gainers.

9:30 am: On the sectoral front, buying was visible across the sectors barring IT shares. FMCG shares were witnessing huge demand after passage of lower GST rates, the BSE FMCG index surged 3.42 per cent. Power, metal, banking, realty, capital goods and auto indices were also up 0.5-1.5 per cent each.

9:24 am: From the Nifty basket of shares, 35 were advancing while 16 were declining. ITC was the top Nifty gainer, up 4 per cent at Rs 289. Bank of Baroda, Hindustan Unilever, Coal India, NTPC, UltraTech Cement, State Bank of India and Power Grid were also among the gainers. On the other hand, Asian Paints, Infosys, Wipro, TCS and Indiabulls Housing Finance were among the laggards.

8:55 am: The Sensex and Nifty are set to open higher in trade today as indicated by the Nifty futures traded on Singapore Exchange. The Nifty futures traded on Singapore Exchange also known as the SGX Nifty (Singapore Nifty) was up 0.24 per cent or 23 points at 9,457. The government on Thursday finalised Goods and Services Tax rates for substantial items clearing a major hurdle towards July 1 rollout of much awaited nationwide Goods and Services Tax. Stock market analysts said this is likely to be a major trigger for markets today.

Meanwhile, other Asian markets were trading on a mixed note. Japan's Nikkei was down 0.16 per cent, Hong Kong's Hang Seng advanced 0.15 per cent and Taiwan Weighted was down 0.04 per cent.

Overnight, Wall Street rebounded from its biggest sell-off in more than eight months, helped by strong U.S. economic data, but uncertainty over U.S. President Donald Trump's agenda kept an index of global equity markets near a three-week low.

The Dow Jones Industrial Average rose 56.09 points, or 0.27 percent, to end at 20,663.02, the S&P 500 gained 8.69 points, or 0.37 percent, to finish at 2,365.72 and the Nasdaq Composite added 43.89 points, or 0.73 percent, to close at 6,055.13.

Back home, foreign institutional investors sold shares worth Rs 361 crore on Thursday while domestic institutional investors bought shares worth Rs 898 crore on Thursday, according to the data available on the National Stock Exchange.

Shares of India's biggest bank State Bank of India will be in focus today as it will report its March quarter and full year earnings later in the day.

Analysts expect SBI to report net profit of Rs 2,628 crore on net interest income of Rs 15,448 crore. Gross non-performing assets as a percentage of total advances are likely to come in at 7.1 per cent compared with 7.2 per cent in the previous quarter.
 

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