Closing bell : The Benchmark equity indices ended with a marginal loss on Tuesday, as investors moved cautiously due to Trump administration's decision not to renew waiver for India to buy Iranian oil.

The 30-share BSE Sensex lost 80.30 points, or 0.21 per cent, to close at 38,564.88. The broader NSE Nifty was down 18.50 points, or 0.16 per cent, at 11,575.95.

In the Nifty, the top losers were Maruti Suzuki, Yes Bank, Tata Steel, IndusInd Bank and Hero Motocorp, while gainers include ONGC, Zee Entertainment, Sun Pharma, Bajaj Finance and Reliance Industries.

Among the sectoral indices, Energy, FMCG and Pharma witnessed buying interest, while Auto, Bank, Metal and Infra closed in red.

GST probe finds P&G India made Rs 250 cr undue profit

The GST profiteering investigation arm has found leading FMCG firm P&G India guilty of not passing on GST rate cut benefits to the tune of about Rs 250 crore by commensurate reduction in prices. Read full report here

SpiceJet to start 28 daily flights from April 26

SpiceJet said Tuesday it will start 28 daily flights connecting Mumbai and Delhi with other cities on its domestic network from April 26.

Cash-starved Jet Airways suspended operations last week and the government authorities are in the process of allocating the airport slots vacated by the full-service carrier to other airlines, including SpiceJet, amid efforts to increase capacity to meet peak season traffic.

Airtel, Zee partner for VoD channel

Airtel Digital TV, the DTH arm of leading Bharti Airtel, and Zee Theatre on Tuesday launched a video-on-demand (VoD) channel ‘Spotlight’, which would air plays by popular theatre groups from the country.

European shares fall as earnings kick in

European shares fell on Tuesday with Belgian battery maker Umicore kicking off a busy week of earnings with a disappointing outlook, while a rally in energy stocks helped cap further losses. The pan-European STOXX 600 index edged lower after seven straight sessions of gains, with all major indices in the red except oil major-heavy London's FTSE 100 which moved marginally higher.

ITC moves NCLT against Hotel Leelaventure

Diversified group ITC has moved National Company Law Tribunal against Hotel Leelaventure alleging “oppression and mismanagement“.

ITC’s current plea was mentioned before the Mumbai bench of the NCLT, which has posted the matter for hearing tomorrow, Hotel Leelaventure said in a regulatory filing. Read more

Aurionpro Solutions bags a PSB order to set up self-servicing kiosks

Aurionpro Solutions, an IT-Enabled service provider has announced it has won an order from a public sector bank for setting up of self-servicing Kiosks at various locations across India.

Aurionpro will  supply, install and maintain self-servicing Kiosks at more than S00 branches of the bank across India. The order is valued at about Rs 18 crore. The project will be completed by September 2019, says a release.

New 52 Week High

New 52 Week Low

Nifty Call: Buy in dips with fixed stop-loss at 11,615

After a positive start the Sensex and the Nifty began to decline and subsequently turned volatile. The Asian market are almost flat, the Nikkei 225 index is up marginally by 0.2 per cent to 22,259 while the Hang Seng index has declined 0.14 per cent to 29,922 levels in today's session. The domestic key indices the Sensex and the Nifty are witnessing selling pressure at higher levels. However, the market breadth of the Nifty index is slightly biased towards advances. The India VIX has gained 2.8 per cent to 24.74 levels.

Read the full technicals here

Capacit’e Infraprojects bags orders worth ₹ 342.38 cr

Construction firm Capacit’e Infraprojects on Tuesday said it has bagged two orders worth ₹ 342.38 crore from private sector clients for construction of commercial and residential buildings at Mumbai. Read full story here

Jet Airways shares halt three-day slide; zoom 13 per cent

In the past three days, the scrip had plummeted 40.94 per cent. Read more

Nifty top 10 gainers and losers

Tata Power to focus on clean energy, not to build new coal-fired plants: report

Private power producer Tata Power will lead the nation’s renewable energy transition with gradual withdrawal from building new coal fired power plants, a report said. Read full report here

Philippines suspends forex trading, treasury bond auction after quake

The Philippines suspended foreign exchange trading and a treasury bond auction on Tuesday, officials said, due to the impact of a 6.1 magnitude earthquake that hit the main island of Luzon, causing disruption in Manila and nearby provinces. Read more

Jindal Steel completes first-ever rail order ahead of schedule

Jindal Steel and Power Ltd on Tuesday said it has completed delivery of its one lakh tonne first-ever rail order, which the firm had bagged from the Indian Railways. Click here to read more

Blackstone to pick 51% stake in Essel Propack

US private equity major Blackstone has signed an agreement to acquire a majority stake in Essel Propack Ltd (EPL), a part of billionaire media baron Subash Chandra’s Essel Group, for up to $460 million (about ₹3,211 crore). The deal comes at a time when the troubled Essel Group is looking to settle its debt and keep the creditors at bay. Click here to read full story

Lupin rises on Morgan Stanley upgrade

Shares of Lupin Ltd has risen as much as 4.5 per cent to ₹868.95 in early trade, their biggest intra-day per cent gain since Oct. 29, 2018. Read the stock upgrade story here

India to get additional supplies to compensate Iranian oil loss: Pradhan

India will get additional supplies from other major oil producing countries to compensate for loss of Iranian oil, India's Petroleum and Natural Gas Minister Dharmendra Pradhan tweeted on Tuesday. Read the full story here

GAIL hits near 2-month low on deal to buy IL&FS' wind assets

The shares of GAIL (India) Ltd on Tuesday fell as much as 3.8 per cent to ₹ 331.70 to their lowest since February 27. Click here to read more

End to Iran sanction waivers: Bullish oil prices only for short-term, says Barclays

The U.S. push to reduce Iranian oil exports to zero will tighten crude markets significantly in the short term, but is unlikely to have a big effect on prices over a longer period, Barclays said in a note on Monday. Read the full report here

Nifty50 Gainers, Losers

Index Heatmap

What to watch: Embassy REIT, ACC, I-Sec results today

A host of high-profile companies such as ACC, Bharat Seats, Coromandel International will declare their quarterly and annual financial results for the period ended March 2019 on Tuesday. Read the full report

Dollar little changed in thin post-holiday trade

The dollar trod water against other major currencies in early Asian trade on Tuesday, while the Canadian dollar was supported by rising crude oil prices due to US plans to tighten a clamp down on Iranian oil exports from next month. Read more on the forex trade

How the US decision will affect oil markets globally

Six months after the US rocked oil markets by letting Iranian exports continue, its decision to end sanctions waivers that allowed shipments is also set to reverberate across the globe. Read the full insiight here

Oil near 2019 highs after US ends all Iran sanction exemptions

Oil prices were near 2019 highs on Tuesday after Washington announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran. Read more

Broker's Call: HDFC Bank (Accumulate)

In Q4FY19, HDFC Bank posted in-line core lending operational performance (NII), but core fee income was below our expectations, leading to lower PPoP and net profit. Lower credit cost aids net profit q-o-q. Equation among LCR (liquidity coverage ratio), LDR (loan-to-deposit ratio) and NIM show required reduction in cost. Read the full call here

Opening bell: The Indian equity market opened on a positive note on Tuesday following a mixed trend seen in other Asian markets. The Nifty index closed 158 points lower at 11,594 on Monday.

At 09:20 am, the Sensex is up 99.62 points at 38,744.80, while Nifty up 13.20 points at 11,607.65.

According to Reuters report, US stocks ended a low-volume trading session little changed on Monday, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings.

Asian shares were little changed on Tuesday, hovering not far from nine-month peaks hit last week, with concerns China may slow the pace of policy easing curbing the market’s enthusiasm, it said.

Rupee opens marginally higher

The Indian rupee opened marginally higher at 69.62 per dollar on Tuesday against the previous close 69.67.

Broker's call: RBL Bank (Buy)

RBL Bank’s NII (net interest income) has shown strong traction led by NIM (net interest margin) expansion and healthy loan growth. MCLR reset at higher rate and change in asset mix has led major improvement in NIM. Management is confident of maintaining NIM going forward. Read more

Day Trading Guide for April 23

₹2268 • HDFC Bank

₹720 • Infosys

₹301 • ITC

₹157 • ONGC

₹1344 • Reliance Ind.

₹310 • SBI

₹2164 • TCS

11618 • Nifty 50 Futures

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

Today's Pick - DCB Bank (₹207.5): Buy

Investors with a short term perspective can buy the stock of DCB Bank at current levels. Read the full Technical Analysis here

Asian shares were little changed on Tuesday, hovering not far from nine-month peaks hit last week, with concerns China may slow the pace of policy easing curbing the market's enthusiasm.

MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan's Nikkei average eased 0.2 per cent. Many markets around the world remained shut on Monday after the long Easter weekend.

Read the full story here

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