Closing Bell
The market ended marginally higher in lacklustre session even as the first day of Lok Sabha polling are still underway across 21 States. Key stocks showed mixed trend on alternative buying and selling by traders.
The Sensex ended at 38,607.01, up 21.66 points over yesterday's closing level. The index ranged between 38,649.98 and 38,460.25 during intraday session.
Bajaj Auto shares revv up 1.50%
Bajaj Auto shares rose 1.50 per cent at Rs 2, 978.85 on the BSE with volumes of 16,279 shares as of now. On the NSE, the stock was quoted at Rs 2,987.95, up by 1.53% with volumes traded just above 3.02 lakh shares. The stock gained following improved sales numbers in March.
Bajaj Auto reported an 18 per cent rise in total sales at 3,93,351 units in March, compared to 3,34,348 units in the same month a year ago.
Total motorcycle sales during the month grew by 20 per cent to 3,23,538 units from 2,69,939 units in the same month last year, the company said in a BSE filing. Bajaj Auto said its total commercial vehicle sales during the month under review went up by 8 per cent to 69,813 units as against 64,409 units sold in March 2018.
TOP NSE GAINERS
TOP NSE LOSERS
BSE SECTORAL INDICES
April 11 | 2 pm
Vedanta falls after top UK court says Zambians can sue co in England
Shares of Vedanta Ltd fell as much as 4.4 per cent to a near two-week low. This comes a day after London's Supreme Court said Zambian villagers can sue the company in England
The apex court of the UK dismissed Vedanta's appeal of a lower-court ruling that a case in which villagers alleged their land was polluted by a Vedanta unit could be heard in England
NIFTY SECTORAL INDICES
Rail Vikas Nigam Ltd shares make flat debut; list at Rs 19
Shares of Rail Vikas Nigam Limited (RVNL) made a flat market debut Thursday, listing at its issue price of Rs 19.
The scrip got listed at Rs 19 on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Nifty 50 April Futures (11,644): Desist trading for the session; Buy only above 11,660 levels
The Sensex and the Nifty commenced the session on a flat note and continued to move in a sideways range thereafter. The Nifty mid and small-cap indices are also trading flat. The volatility index, India VIX is hovering flat at 21.09 levels. The Nifty metal index has slumped over 1 per cent witnessing selling interest. The market breadth of the Nifty index is at break-even. READ MORE
SENSEX STOCKS
Morgan Stanley expects strong corporate earnings in Q4
Morgan Stanley is expecting strong Q4 for most corporate and banking sector in India led by strong loan growth, higher underlying margins and improving asset quality
Tata Sponge rallies higher
Tata Sponge Iron shares went up 1% today on the back of strong buying interest. The company recently announced that it has completed the acquisition of steel business undertaking, including captive power plants,
on April 9, 2019, pursuant to a cash consideration (after adjustment for negative working capital and debt like items)
payable to Usha Martin of Rs.4,094 crore, which is subject to further hold backs of Rs.640 crore, pending transfer of some of the assets including mines and certain land parcels.
CURRENCY DERIVATIVES WATCH
Zodiac Clothing spurts to 52-week high
Zodiac Clothing has touched a 52-week high at Rs 260.90 with volumes of 5,35 shares traded today on the BSE. On the NSE, the stock gained 4.40% at Rs 260 with volumes of 8,813 shares traded.
RBI needs to fortify forex reserves further by $20 billion: HSBC
An additional $20 billion of foreign exchange (FX) reserves, which will take India’s overall holdings to $430 billion, would provide an extra, useful cushion in a world of increased financial volatility, according to a research report by HSBC.
This would be a halfway climb to the record $450 billion reserves India held in early 2018.
Investors face hit as Kotak MF defers returns on fixed maturity plan
In a move that has put mutual fund investors in a tizzy, Kotak Mahindra Mutual Fund has withheld returns on its fixed maturity plan (FMP) that matured on Wednesday.
The asset management company is facing delayed repayments on some of the debt instruments issued by the Subhash Chandra-backed Essel Group and IL&FS Group companies.
Indiabulls Real Estate jumps 2.50%
Indiabulls Real Estate Ltd rose 2.50% today to trade at Rs 121.60. It touched a high of Rs 125.90 on the NSE today. On the NSE, Volumes traded in the counter were to the tune of 1.20 crores shares approximately.
The S&P BSE Realty Index index is trading flat at 2,138.91.
₹2043 • TCS : Sell TCS if fails to rally above ₹2,060 levels
| S1 | S2 | R1 | R2 | COMMENT |
| 2020 | 2000 | 2060 | 2080 | Fresh short positions can be initiated with a tight stop-loss if the stock of TCS fails to rally above ₹2,060 levels |
Rupee slips against dollar in early trade
The rupee fell 9 paise to 69.20 against the US dollar in opening trade Thursday on increased demand for the greenback from importers and banks.
Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency. However, sustained foreign fund inflows supported the rupee and restricted the fall.
11652 • Nifty 50 Futures : Sell if the contract reverses from 11,700 levels
| S1 | S2 | R1 | R2 | COMMENT |
| 11600 | 11550 | 11700 | 11750 | Initiate fresh short positions with a tight stop-loss only if the contract reverses down from 11,700 levels |
SENSEX STOCKS
Lok Sabha elections 2019: Polling begins in 91 seats in phase-1
Polling began on Thursday morning in 91 constituencies spread across 18 states and two union territories in the first phase of Lok Sabha elections.
Voting is also underway in 175 assembly seats in Andhra Pradesh, 32 in Sikkim and 28 seats in Odisha.
Broker's call: Siemens (Accumulate)
Prabhudas Lilladher
Siemens (Accumulate)
CMP: ₹1,166
Target: ₹1,221
Our management meeting with Siemens indicated the sustained thrust of the company to transform itself from being a product company (62-65 per cent of sales) to a complete solution provider.
Wipro trade higher on share buyback plan
Wipro rose 1% to Rs 283.75 in early trades on the BSE after the company said that its board will consider a proposal for buyback of equity shares at its meeting scheduled on April 16, 2019.
₹311 • SBI : Sell if stock falls below ₹305
| S1 | S2 | R1 | R2 | COMMENT |
| 305 | 298 | 317 | 326 | Consider initiating fresh short positions with a fixed stop-loss if the stock of SBI falls below ₹305 levels |
Equities stay muted in early trading session even as seven-phase election process starts today as voters in 21 states cast their ballot. Investors were upbeat on Modi re-election prospects, but investors remain in caution with the first phase of polling begun.
Nifty Sectoral Indices
BSE asks stock brokers to submit compliance report on AI tools by April 15
Leading stock exchange BSE has asked stock brokers to make quarterly disclosures about compliance with Sebi’s cyber security framework by April 15.
The stock exchange has asked stock brokers who are using applications based on artificial intelligence (AI) and machine learning (ML) to submit compliance report for January-March 2019 quarter in the format given by Sebi.
₹1328 • Reliance Ind : Sell if stock declines below ₹1,315 levels
| S1 | S2 | R1 | R2 | COMMENT |
| 1315 | 1300 | 1340 | 1355 | Fresh short positions can be initiated with a stiff stop-loss if the stock of RIL declines below ₹1,315 levels |
Day Trading Guide For April 11
₹2242 • HDFC Bank
| S1 | S2 | R1 | R2 | COMMENT |
| 2230 | 2215 | 2255 | 2268 | The stock experiences selling pressure at higher levels. Sell in rallies while retaining a fixed stop-loss at ₹2,255 |
₹754 • Infosys
| S1 | S2 | R1 | R2 | COMMENT |
| 747 | 740 | 760 | 767 | Initiate fresh short positions with a tight stop-loss if the stock reverses down from ₹760 levels |
Ujjivan Financial Services (₹337.3): Buy
Investors with a short-term perspective can buy the stock of Ujjivan Financial Services at current levels. Resuming the short-term uptrend, the stock gained 3.7 per cent accompanied by above average volume on Wednesday.
Opening Bell
Markets opened on a subdued note with thin volumes today. Index weighted stocks were flat in the opening session. While Bharti Airtel, Hindustan UniLever, Tata Motors and Asian Paint were up marginally, others such as Kotak Bank, Infosys, Sun Pharma and Vedanta declined slightly.
The Sensex was up 40 points at 38,625.85, and the Nifty too was up by 9.80 points at 11,594.10 in early trading session.
Broker's call: Aditya Birla Fashion & Retail (Buy)
Motilal Oswal
Aditya Birla Fashion & Retail ( Buy)
CMP: ₹222
Target: ₹260
Aditya Birla Fashio & Retail (ABFRL) holds a healthy and diversified portfolio mix consisting four leading menswear brands, Pantaloons in the value-fashion retail format, men/women’s innerwear through Van Heusen’s brand extension, and women’s fast-fashion venture — Forever 21.
Growth woes douse rally in Asian markets, dollar slips
Asian stocks stepped back from near eight-month highs on Thursday and the dollar eased as European and US central banks reinforced investor worries about the global economic outlook and trade protectionism.
Wall St ekes out gains as investors shrug off Fed minutes
Technology stocks led Wall Street slightly higher on Wednesday, as US inflation data proved to be benign and the minutes from the Federal Reserve's March meeting were unsurprising.
The blue-chip Dow, held back by industrial stocks, squeaked into positive territory at the closing bell.