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SURE SHOT CALLS

Monday 19 March 2018

Closing Update- Nifty below 10,100 mark, PSU Bank, Metal stocks fall

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Domestic equity benchmarks indices fell in the red on Monday’s closing, in over three months low dragged by metal, banking and IT stocks. The Sensitive index of BSE (Sensex) fell 0.76% or 253 points to 32,923 and the NSE Nifty50 index plunged 0.99% or 101 points to 10,094. All sectoral gauges compiled by the NSE ended lower led by the Nifty Realty index's 2.9% drop. BSE Mid-Cap index fell 1.58% and the BSE Small-Cap index plunged 1.98%. 

The Nifty PSU Bank index plunged 2.6%, weighed by losses in shares of SBI, Allahabad Bank and IDBI Bank. Shares of oil companies such as  Indian Oil Corpn (IOC) and Bharat Petroleum Corpn (BPCL) ended 3.7% lower each after both the companies are reportedly set to buy 26% stake each in GAIL (India) Limited from the govt. 

On the Sensex, shares of Tata Steel Ltd fell about 4.5%, followed by Bharti Airtel, Wipro, Coal India, YES Bank and Bajaj Auto followed with losses of up to 4.3%. The fall in Sensex is attributed on selling in Infosys, Tata Steel and SBI. 

Nifty Realty Index down over 2.5 percent with shares of DLF Limited (-5.44%), Unitech Ltd (-4.72%), Housing Development & Infrastructure (-2.09%), Indiabulls Real Estate (-3.76%). 

Gainers & Losers on NSE: NTPC (+1.21%), Power Grid (+1.12%), Maruti Suzuki (+1.06%), Hindustan Unilever Limited (+0.99%) and L&T (+0.92%). On the other hand, major losers were HCL Tech, Tata Steel, Airtel which fell 5% to 4% in range.

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