MARKETS LIVE: Sensex range-bound, Nifty tests 10,400; PSU banks drag

Photo: Shutterstock.comIPO WATCH Karda Constructions IPO opens on March 16, 2018 Nashik-headquartered real estate developer Karda Constructions Limited is all set to launch its maiden IPO. The IPO shall offer 43,00,000 equity shares at a price band of Rs. 175 to 180 making the issue size of around Rs. 77.40 crores (at the upper price band). The shares of the company will list on BSE and NSE. The sole lead manager to this issue is Aryaman Financial Services Limited and Registrars to the issue are Bigshare Services Private Limited. (Source: Company release) BSE Smallcap: Mangalore Chemicals & Fertilizers, Waterbase among top gainers, Pincon Spirit top loser MARKET COMMENT: Kotak Securities We believe that volatility may continue to remain throughout the year on concerns related to higher oil prices, impact of higher MSPs as well as impending elections in three big states, out of which two are BJP ruled. The focus would also remain on how government manages the fiscal deficit situation. Any shortfall in estimated GST collections or higher inflation is likely to have an impact on yields moving up further which would adversely impact market valuations. However, sharp earnings revival, pre-election spend, demand revival as well as infrastructure spending are likely to be positive triggers for the market. Globally, stronger outlook for economic growth in US raises the likelihood that further gradual policy firming is on the way by US Fed while ECB and Bank of Japan may continue with their accommodative monetary policy stance for some more time now. CONTRIBUTION TO SENSEX COMPANY LATEST CHG(RS) CHG(%) FREE FLOAT MKT CAP (RS CR) CONTRIBUTION (POINTS) TATA STEEL 622.40 -5.90 -0.94 17396.88 -5.73 HERO MOTOCORP 3670.00 -31.30 -0.85 34787.74 -5.89 RELIANCE INDS. 928.20 -2.40 -0.26 176731.30 -6.20 ADANI PORTS 380.05 -4.70 -1.22 23709.89 -6.21 COAL INDIA 291.35 -3.40 -1.15 40721.57 -6.23 ITC 267.90 -0.75 -0.28 261575.10 -8.73 AXIS BANK 525.30 -5.50 -1.04 73182.24 -13.27 ST BK OF INDIA 251.10 -3.80 -1.49 71541.97 -17.11 ICICI BANK 301.45 -2.55 -0.84 149832.07 -21.47 H D F C 1853.45 -9.80 -0.53 193778.42 -22.42 BSE Midcap: Vakrangee top gainer, Bank of India, Canara Bank among top losers Sectoral Trend

Source: Business Standard