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MARKETS ON TUESDAY: Indices end flat, Nifty holds 10700; ICICI Bank up 6.6%

SI Reporter/New Delhi 08 May 18 | 03:30 PM

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Benchmark indices ended flat on Tuesday, tracking their Asian counterparts. 

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The S&P BSE Sensex ended the day at 35,216 up 8 points while the broader Nifty50 index settled at 10,718 , up 2 points

Meanwhile, stock-specific actions continued on Tuesday as we are in the middle of March 2018 quarter earnings season.

Among individual stocks, ICICI Bank rose 7 per cent and was the biggest gainer on the broader NSE index. Brokerages have retained their ‘buy’ rating on the stock citing a significant decline in the “drilldown" list of potential troubled loans. The bank’s net profit almost halved to Rs 10.20 billion for the quarter ended March 31.

ASIAN MARKETS & OIL

Globally, oil prices eased slightly on Tuesday, a day after hitting 3-1/2 year highs, as investors braced for President Donald Trump’s decision on whether to withdraw the United States from the Iran nuclear deal, a move that could disrupt global oil supply.

While caution on Trump’s statement kept investors edgy in early trade, technology firms helped to generate gains for Asian equities.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.6 per cent, with information technology shares rising 1.3 per cent. Japan’s Nikkei was 0.2 per cent higher.

(with Reuters inputs)

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Sensex

Company Price Gain (%)
Vedanta211.554.42
Adani Ports384.053.83
ITC283.853.80
Bharti Airtel357.603.49
ICICI Bank274.853.33

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