Closing bell: Indices shed nearly a percent on Tuesday too due to late selling, weak global cues and worries about US-China trade dispute.

The 30-share BSE Sensex ended down by 323.71 points, or 0.84 per cent, to close at 38,276.63. Similarly, the broader NSE Nifty fell 110.35 points, or 0.87 per cent, to end lower at 11,497.90.

Tata Motors was the top loser in the Nifty pack, dropping 4.90 per cent. Zee Entertainment, ICICI Bank, Reliance Industries and JSW Steel too fell up to 2.98 per cent.

On the other hand, Hindustan Uniliver, Bharti Infratel, Larsen & Toubro, Hindalco and Wipro rose up to 1.71 per cent.

Almost all sectoral indices ended in red except for Nifty IT pack. The market breadth was negative as 1,209 shares declined, against advance of 559 shares, while 300 shares were unchanged.

Sanofi India Q1 net profit up 13% to Rs 93 cr

Drug firm Sanofi India on Tuesday reported a 12.60 per cent rise in its net profit to Rs 92.9 crore for the first quarter ended March 31, 2019. The company had posted a net profit of Rs 82.5 crore for the corresponding period of the previous fiscal, Sanofi India said in a filing to the BSE.

Its total income stood at Rs 740.3 crore during the quarter, compared with Rs 640.3 crore in the year-ago period.

Cambridge Technology partners with OutSystems to deliver low code mobility solutions

Cambridge Technologv Enterprises Limited, a global business and technology services company, on Tuesday announced strategic partnership with OutSystems. This partnership will enable Cambridge Technology’s services teams to further enable the success of its current and future customers by integrating OutSystems into its best-in-class mobile application development and DevOps practices.

Piramal Enterprises, Canada Pension fund ink pact for renewable energy platform

Piramal Enterprises Limited on Tuesday signed MoU with Canada Pension Plan Investment Board, a Canadian pension fund, to co-sponsor a renewable energy focused Infrastructure Investment Trust (“InvIT”).

With an initial corpus of US$ 600 million, and the option to scale further, the InvIT would seek to acquire up to 1.5-2GW of stable and cash generating renewables assets on a hold-to-maturity basis, with a firm focus on diversification of both asset type as well as off-taker profile.

S&P Dow Jones Indices plans to launch global dairy index by year-end

S&P Dow Jones Indices is planning to launch an index for the global dairy industry by end of this year, a senior company official told Reuters on Tuesday. The demand for dairy products in Asia, led by China, has been climbing rapidly in recent years as people with higher incomes turn to protein-rich foods.

“We are trying to do an index in the dairy space, skimmed milk powder to start with,” said Fiona Boal, head of Commodities and Real Assets at S&P Dow Jones Indices. Read more here

Nifty Gainers/Losers

Nifty Call: Buy in dips with fixed stop-loss at 11,645

The Sensex and the Nifty began the session in a positive note, with a gap-up open. The key benchmark indices continue to trade in the positive territory with an upward bias. Market breadth of the Nifty index is biased towards advances. Buying interest is seen in Nifty mid and small-cap indices as well. Read the full technicals here

Unichem Labs gets USFDA tentative nod for allergic rhinitis drug

Unichem Laboratories on Tuesday said it has received tentative approval from the US health regulator for its generic copy of allergic rhinitis Johnson & Johnson Consumer Inc’s Zyrtec-D 12 Hour used for treating allergic rhinitis. The product will be commercialised from it's Goa plant on receipt of final approval, it added.

Nifty FMCG sector is trading positive today lead by Marico, Hindustan Unilever, GlaxoSmithKline Consumer Healthcare, Tata Global Beverages among others

HDFC Bank board plans to consider stock split on May 22

The board of directors of HDFC Bank will consider a stock split on May 22. “The board of directors of the bank would consider a proposal for sub division of the bank’s equity shares from one equity share of face value of ₹2 each to two equity shares of face value of ₹1 each,” the private sector lender said in a regulatory filing on Monday. Read more on this here

Wipro , R3 build blockchain-based solution to power digital currency in Thailand

Wipro Ltd, in partnership with R3, has developed a blockchain-based solution prototype to enable digital currency for interbank settlements for a consortium consisting of the Bank of Thailand and eight commercial banks in Thailand. Developed as part of the first phase of Project lnthanon, the solution will enable de-centralized interbank real-time gross settlement using wholesale Central Bank Digital Currency to prove that the technology can perform key functionalities of payment and enhance efficiency.

Capgemini, Majesco become alliance partners

Capgemini on Tuesday announced it has signed an alliance partner agreement with Majesco, a global leader of core insurance software for insurance business transformation.

With this tie-up, Capgemini will bring its extensive insurance innovation, customer service and digital capabilities to implementations of the Majesco Life & Annuity and Group Core Suite for insurance carriers in the life, annuity, group, worksite, and voluntary benefits market, helping them to achieve speed to value.

LTI unveils intelligent enterprise solutions for SAP

Larsen & Toubro Infotech (LTI) on Tuesday announced unveiling of new solutions to help its customers accelerate their SAP S/4HANA® migration and save as much as 20-30 per cent effort, depending on the migration scenarios with LTI’s Mosaic Profiler.

IndiGo prepares for another ‘large’ Airbus order

IndiGo is in talks with Airbus SE for another large plane order in a sign Asia’s biggest budget carrier has no intention of letting up on a blistering pace of expansion. Read the fully story here

Bharti Airtel falters in war with RJio

In a war for the control of India’s billion-plus mobile-services market, tycoon Sunil Mittal seems to be floundering in the face of a juggernaut unleashed by Mukesh Ambani. Read more on Q4 comment

Sterlite Technologies rises; promoters reach deal with lenders to remove pledged shares

Shares of optical fibre cable maker Sterlite Technologies Limited climbed as much as 6.6 per cent to Rs 204.4. Read more here

Gujarat Gas rises on solid Q4 results

Shares of Gujarat Gas Ltd on Tuesday rose as much as 4.1 per cent to ₹166.4, their highest in nearly a month. It has reported a 43 per cent rise in March-quarter profit after market hours on Monday. The company’s forward PE of 26.30 exceeds sector average of 20.34. Read more here

Bharti Airtel hits over 7-month high on Q4 beat

Shares in Bharti Airtel Ltd rose as much as 2.2 per cent to Rs 340.85, their highest since Sept 24, 2018. Read more the scrip here

Marico sees best session in near five months on solid Q4 profit

Shares of Marico Limited rose as much as five per cent to Rs 356.7, marking their biggest intra-day per cent gain since December 11, 2018. Click here to read more

CG Power falls after Hungarian asset sale fails

CG Power and Industrial Solutions Ltd's shares fall by as much as 9.8 per cent to Rs 34, the company’s worst day since February 26. Read more the scrip here

Market update: The benchmark BSE Sensex recovered over 200 points on Tuesday led by gains in banking and IT stocks despite weak global cues.

At 10 am , the 30-share index was trading 95.03 points, or 0.25 per cent, higher at 38,695.37. Similarly, the broader NSE Nifty was up 13.20 points, or 0.11 per cent, at 11,611.45.

Top gainers in early session were Vedanta, Coal India, Hero MotoCorp, TCS, SBI, Tata Steel, Axis Bank, PowerGrid, Yes Bank, Tata Motors, HUL, ICICI Bank, HDFC Bank and Infosys, rising up to 1.83 per cent. On the other hand, IndusInd Bank, ONGC, RIL, Sun Pharma, HCL Tech and Bharti Airtel fell up to 1.92 per cent.

According to traders, banking and IT stocks lifted investor sentiment despite choppy cues from other global markets.

Meanwhile, foreign institutional investors (FIIs) sold equity worth Rs 948.98 crore on Monday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 89.89 crore, provisional data available with stock exchanges showed.

Rupee opening: The rupee appreciated by 4 paise to 69.36 against the US dollar in opening trade on Tuesday, driven by weakening of the greenback and positive opening in domestic equities.

At the interbank foreign exchange market, the domestic unit opened at 69.40 against the dollar, then gained momentum and touched 69.36, up 4 paise over its previous close. The rupee had settled at 69.40 against the US dollar Monday.

Broker's call: Birla Corporation (Buy)

Cement volumes of Birla Corporation for the quarter came in at 3.85 MT (+13.2 per cent y-o-y/+20 per cent q-o-q) as against our estimates of 3.58 MT. Net sales in Q4FY19 stood at ₹1,870 crore, replicating the growth in volumes as realisations remained flattish on y-o-y & q-o-q basis. Read the full technicals here

Broker's call: Hindustan Unilever (Accumulate)

Hindustan Unilever is engaged in fast-moving consumer goods business comprising home and personal care, foods and refreshments. Read the full technicals here

Crude prices under pressure from US-China trade dispute, market remains tense

Oil prices were under pressure on Tuesday from concerns the escalating United States (US)-Iran trade dispute could slow the global economy, while US sanctions on crude exporters Iran and Venezuela helped keep the market on edge. Read full story here

Will Gold ETFs glitter on Akshay Tritiya?

As usual Akshay Tritiya will attract investors towards gold and gold-related products such as gold bonds and gold exchange-traded funds (gold ETFs). With the expectation of a soft interest rate regime in India and the US, experts believe this year Akshay Tritiya could attract a lot of investors to the yellow metal. As returns in gold have remained subdued for the past few years, marketmen believe this is the time to add yellow metal to the portfolio to help boost the investment value.

Airtel , Hughes Communications to combine VSAT operations in India

Telecommunication services provider Bharti Airtel (Airtel), and Hughes Communications India (HCIL), a subsidiary of Hughes Network Systems, LLC (Hughes), the global leader in broadband satellite networks and services on Tuesday said they have agreed to combine their VSAT (satellite communications system that serves home and business users) operations in India. 

The transaction is subject to approvals by relevant authorities, Airtel said in a statement. Read full report here

Opening trade: The equity indices opened higher on Tuesday following positive trend in other Asian markets. Overnight, US markets closed lower after President Donald Trump pledged to raise tariffs on Chinese goods.

The Sensex is up 215.12 points at 38,815.46, while Nifty is up 54.15 points at 11,652.40. About 925 shares have advanced, 427 shares declined, and 519 shares are unchanged in NSE.

All the sectoral indices are trading in green except for BSE Oil & Gas and Energy.

Day Trading Guide for May 7, 2019

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹2328 • HDFC Bank

₹717 • Infosys

₹307 • ITC

₹170 • ONGC

₹1384 • Reliance Ind.

₹308 • SBI

₹2154 • TCS

11656 • Nifty 50 Futures

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Today's Pick - Federal Bank (₹100.1): Buy

The stock of Federal Bank advanced 2.4 per cent accompanied by extraordinary volume on Monday. With this rally, the stock has strengthened the short-term uptrend and closed above a key resistance level of ₹98.5. Investors with a short-term perspective can buy the stock at current levels. Click here to more on Technical Analysis

Wall Street falls as White House vows to raise China tariffs

The benchmark S&P 500 fell as much as 1.6 per cent during the session while US Treasury yields dropped as investors turned to low-risk government bonds. Click here to read more on US markets

Asia shares near 5-week low amid renewed US-China trade jitters

Asian shares wallowed near five-week lows on early Tuesday after U.S. President Donald Trump's threat to raise tariffs re-ignited worries about US-China trade tensions while Japan's Nikkei opened down after a 10-day break. Read more  here

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