Markets Live: Benchmark indices extend gains, Sensex up 177 points at 38,862

Nifty finishes at 11,665, up 67 points

 

April 5 | 3:30 pm

Closing bell

The benchmark indices, the BSE Sensex and the NSE Nifty, closed the week on a firm note.

The Sensex was quoting at 38,862, up 177 points or 0.46 per cent higher, while the NSE Nifty finished at 11,665, up 67 points or 0.59 per cent higher.

The top gainers on the Sensex were Tata Steel, VEDL, Bajaj Finance, TCS and IndusInd Bank. The laggards were SBI, Power Grid, HeroMotoCorp, Sun Pharma and YES Bank.

 

April 5 | 3:10 pm

European shares little changed before US jobs data

European shares rose slightly on Wednesday after five straight says of losses. File Photo   -  Bloomberg

 

European shares were little changed on Friday as investors waited for a closely watched US jobs report and trade talks between China and the US continued.

The pan-region STOXX 600 index was up 0.1 per cent at 0730 GMT, set for its best weekly rise in three weeks. Most European markets were higher, but Germany's tariff-sensitive DAX slipped lower. Click here to read the European share markets report.

April 5 | 3:00 pm

Trade hopes help world shares gain before US jobs data

Cautious optimism over Sino-US trade talks underpinned global stocks on Friday, benchmark bond yields ground higher and the dollar reached a three-week high against the yen before US job data.

US President Donald Trump said on Thursday a trade deal with China might be announced within four weeks, although he warned that it would be difficult to allow trade to continue without an agreement. Chinese President Xi Jinping reportedly said progress was being made and called for an early conclusion of talks. Click here to read the Asian markets report.

April 5 | 2:50 pm

Bank of India to sell 25.05% stake in life insurance JV for Rs 1,106 cr

 

Bank of India on Friday said it will sell 25.05 per cent stake in its insurance JV Star Union Dai-ichi Life Insurance Co for at least Rs 1,106 crore. Click here to read in full the report on BoI to sell stake in insurance jt venture.

April 5 | 2:45 pm

Sensex, Nifty extend gains

The BSE Sensex extended its afternoon gains in late trading on Friday. The Sensex was trading at 38,798, up 113 points or 0.29 per cent higher. The NSE Nifty also stood firmer at 11,639, up 41 points or 0.35 per cent higher.

The top gainers on the Sensex were Tata Steel, VEDL, TCS, Bajaj Finance and Infosys, while the laggards were SBI, Power Grid, Tata Motors, Hindustan Unilever and HCL Tech.

April 5 | 2:40 pm

Gold dips towards 10-week low ahead of US jobs data

Gold on track for fifth session of gains.   -  Reuters

 

Gold slipped on Friday, but was trading above the 10-week low touched in the previous session, as dollar rose against the yen on signs of progress in the US-China trade dispute and strong US economic data.

Investors are now awaiting the US jobs numbers for more signals on the strength of the economy. Click here to read in full the gold markets report.

April 5 | 2:20 pm

Nifty call: Buy on dips with fixed stop-loss at 11,675 levels

 

Nifty 50 April futures (11,706)

Following a gap-up opening and an initial rally, the Sensex and the Nifty began to witness selling pressure at higher levels. Both the benchmark indices have given up their initial gains and are trading almost flat. Click here to read in full the Nifty call report.

April 5 | 1:40 pm

Oil prices fall, but on track for weekly gain

 

Oil prices fell on Friday, with Brent slipping away from the $70 mark reached the previous day, pulled down by worries about progress in the US-China trade talks.

International benchmark Brent futures dropped 15 cents, or 0.2 per cent, to $69.25 a barrel by 0455 GMT, having touched $70.03 in the previous session, the highest since November 12. Click here to read in full the global oil markets report.

April 5 | 1:30 pm

Trade optimism supports dollar ahead of jobs report

File Photo   -  Reuters

Optimism for a US-China trade deal helped the dollar hit a three-week high against the yen on Friday, although moves in the broader foreign exchange markets were limited as investors saw a lot of headlines but no conclusions out of the trade talks.

Xinhua reported that Chinese President Xi Jinping had said progress was being made in trade talks with Washington and called for an early conclusion of negotiations. Click here to read in full the global forex market report.

April 5 | 1:15 pm

Sensex, Nifty hold steady

The Sensex was trading firm but off its early highs in the afternoon session. It was trading at 38,744, up 59 points or 0.15 per cent higher.The NSE NIfty was at 11,624, up 26 points or 0.23 per cent higher.

April 5 | 1:08 pm

Godrej Properties hits record high

 

Real estate company Godrej Properties Ltd's shares rose as much as 5.6 per cent to a record high.

Godrej will develop a residential project at Vashi, Navi Mumbai, the company said in a statement on Thursday.

The company said it increased stake in Wonder Space Properties to 96.03 per cent from 25.1 per cent by purchasing shares from Shubh Properties Cooperatief U.A.

About 1.1 million shares changed hands, compared with the 30-day average of around 584,699 million shares.

Nine of the 16 brokerages rate the stock “buy” or higher, five “hold” and two “strong sell”; median PT 770 rupees - Refinitiv Eikon data.

As of Thursday's close, the stock is up 40.6 per cent so far this year.

April 5 | 1:00 pm

Bal Pharma climbs on receipt of EU GMP certification

Shares of Bal Pharma Ltd rose as much as 10.76 per cent to Rs 76.7, their highest since February 25, 2019.

The formulations manufacturing unit of the company at Uttarakhand received a good manufacturing practice (GMP) compliance certification according to European Union regulations, the company said on Thursday.

The approval allowed the plant to manufacture finished formulations for supplying to regulated markets of Europe, US, Japan and Australia among others, the company added.

The stock was on track for its second consecutive session of gains.

Up to Thursday's close, the stock had fallen 12.45 per cent so far this year.

April 5 | 12.30 pm

Sensex, Nifty firm

The 30-share BSE index Sensex was trading higher by 41.91 points or 0.11 per cent at 38,726.63 while the broader index Nifty was quoting at 11,626.05, higher by 28.05 points or 0.24 per cent.

The stocks of Infosys, HDFC, TCS, Bajaj Finance and IndusInd Bank were lending support to the index while the scrips of Reliance, SBI, ICICI Bank, Hindustan Unilever and Axis Bank were dragging the index.

The top gainers in the NSE index were Cipla, Tata Steel, JSW Steel, Bajaj Finance and Adani Ports while the laggards were SBI, Tata Motors, Power Grid, Britannia and Hindustan Unilever

April 5 | 11:25 am

Nelco sees biggest intra-day per cent gain over 1 year

Shares of Nelco Ltd rose as much as 16.5 per cent to Rs 337.9, their biggest intra-day per cent gain since February 2018. The company's forward PE is 54.66 above the sector average of 44.74.

About 1.2 million shares changed hands compared with the 30-day average of around 71,114 shares.

The stock is trading at its highest since September 2018. The stock is up 15.5 per cent this year as of the last close, compared with the 6.77 per cent rise in the broader NSE Index in the same period.

April 5 | 11:10 am

Sensex, Nifty maintain firm trend

The Sensex and Nifty continued to hold firm in the morning session on Friday. The Sensex was trading at 38,778, a gain of 93 points or 0.24 per cent. The NSE Nifty was trading at 11,632, up 34 points or 0.30 per cent higher.

The top gainers on the Nifty were Cipla, Bajaj Finance, UltraCement, Wipro and Eicher Motors, while the laggards were SBI, Tata Motors, Britannia, Hero MotoCorp and Dr Reddy's.

 

April 5 | 10:30 am

Indiabulls Housing Fin hits near 6-month high

Shares of Indiabulls Housing Finance Ltd gained as much as 1.54 per cent to Rs 912, its highest since October 17, 2018.

The stock broke above a resistance at Rs 905.65, the 38.2 per cent Fibonacci retracement level of the downtrend from the Jan 29, 2018 high to the Feb 11, 2019 low. Click here to read the report on Indiiabulls Housing share price movement

April 5 | 10:20 am

Rupee rises by 12 paise to 69.05 vs $ in early trade

The short-term uptrend of the rupee will remain intact as long as the currency trades above 69.4

The rupee appreciated by 12 paise to 69.05 against the US dollar in opening trade on Friday, driven by weakening of the greenback in overseas markets and a higher opening in domestic equities. Click here to read in full the rupee report.

April 5 | 10:05 am

Sensex, Nifty trade firm

The Sensex and Nifty were comfortably in the green in the morning session on Friday. The Sensex was up 172 points at 38,857, while the Nifty gained 53 points to trade at 11,651.

The top gainers on the Sensex were YES Bank, IndusInd Bank, L&T, Bajaj Finance and Infosys, while the laggards were Asian Paints, HCL Tech, HeroMotoCorp, SBI and Power Grid.

PTI adds: The BSE benchmark Sensex jumped over 200 points in early trade led by gains in realty, metal, oil and gas and banking stocks amid positive global cues on hopes of a trade deal between the US and China.

According to traders, investors followed cues from other Asian markets, which were trading on a positive note after US President Donald Trump on Friday said the US and China are close to entering into a trade agreement and something very “monumental” could be announced in the next four weeks.

Top Chinese and US officials are meeting in Washington to reach an agreement after the world’s two biggest economies entered into a trade war and imposed tariffs on more than $360 billion in two-way trade.

Investors were cautious about the downward revision in GDP growth to 7.2 per cent for FY20 by the Reserve Bank of India, while premium valuation and concerns over monsoon further impacted the sentiment. However, dovish view by global central banks and a likely better results in Q4FY19 can stabilise the market in the near-future, experts said.

Meanwhile, foreign institutional investors (FIIs) pulled out Rs 226.19 crore Thursday, and domestic institutional investors (DIIs) bought equities to the tune of Rs 1,206.16 crore, provisional data available with stock exchanges showed.

On the macro front, the rupee appreciated 10 paise to trade at 69.07 to the US dollar in early trade on Friday. Brent crude futures, the global oil benchmark, fell 0.22 per cent to trade at USD 69.25 per barrel.

Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were trading positive.

April 5 | 10:00 am

Asia shares hug weekly gains, wait on US jobs test

 

Asian share markets consolidated their weekly gains on Friday as Sino-US talks produced a lot of headlines but no conclusions, while caution ahead of US payrolls and a holiday in China dampened volatility. Click here to read in full the Asian markets report.

 

April 5 | 9:55 am

Will buyback sweeten Balrampur Chini?

 

The board of Balrampur Chini Mills will meet on Friday to consider a proposal for buyback of equity shares and matters related/ incidental thereto. Shareholders would be keen to know the size and price of the buyback issue. Click here to read in full the report on Balrampur Chini buyback.

April 5 | 9:50 am

Polycab India raises Rs 401 cr from anchor investors

 

Ahead of its initial public offer, Polycab India on Thursday raised Rs 401 crore from 25 anchor investors, according to a release. The company manufactures and sells wires and cables as well as fast moving electrical goods. Click here to read in full the report on Polycab India raises Rs 401 cr from anchor investors.

April 5 | 9:45 am

Foxconn gearing up to make new iPhones in India

 

Foxconn Technology Group is within weeks of starting trial production of the latest iPhones in India, as Apple Inc seeks to revive its fortunes in the country, people familiar with the matter said. Click here to read in full the report on Foxconn plans to make new iPhones in India.

 

April 5 | 9:40 am

Indian billionaires consider competing for stake in TV network

 

Billionaires Mukesh Ambani and Sunil Bharti Mittal are considering competing bids for a stake in a troubled Indian television network, people with knowledge of the matter said, as their telecom carriers race for content in the worlds second-biggest mobile market. Click here to read in full the report on Indian billionaires consider competing for stake in TV network.

April 5 | 9:35 am

Bankers hail rate cut, but growth and inflation concerns remain

 

Bankers and markets cheered the 25 basis points cut in repo rate by the RBI, but headwinds of slowing growth are turning out to be a cause for concern. Click here to read in full the report on bankers hail rate cut.

April 5 | 9:30 am

Banks get a breather on external benchmark of floating rate loans

 

The RBI has given banks a breather on external benchmarking of new floating rate loans. The central bank said it will hold further consultations with stakeholders and work out an effective mechanism for transmission of rates. Click here to read in full the report on external benchmark of floating rate loans.

April 5 | 9:25 am

RBI to set up panel on development of housing finance securitisation market

 

The Reserve Bank of India, on Thursday, announced that it will soon set up a committee to assess the state of housing finance securitisation market in the country. The move is aimed at bringing in standardisation of asset securitisation practices to enable better management of credit and liquidity risks. Click here to read in full the report on RBI panel on housing finance securitisation.

April 5 | 9:20 am

At ₹25,000 crore , NCD holders have the second highest exposure to IL&FS after PSBs

 

It’s not just public sector banks (PSBs) and NBFCs that are worried about their exposure to IL&FS. Investors holding non-convertible debentures (NCDs) worth nearly ₹25,000 crore are in the same boat. Click here to read in full NCD holders' exposure to IL&FS.

 

April 5 | 9:15 am

Opening bell

The benchmark index, the BSE Sensex opened in the green on Friday. It was quoting at 38,839, up 154 points or 0.40 per cent higher. The NSE Nifty was also in positive territory, trading at 11,634, up 36 points or 0.32 per cent higher.

April 5 | 9:10 am

For 2nd time in 2019, RBI cuts repo rate by 25 bps

 

The Reserve Bank of India on Thursday cut the repo rate by another 25 basis points to 6 per cent.

The move will cheer markets and investors and is the second consecutive rate cut by the RBI. It has also maintained the policy stance neutral and lowered the retail inflation and GDP forecasts. Click here to read in full the report on RBI repo rate cut.

April 5 | 9:05 am

Day Trading Guide for April 5, 2019

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

₹2284 • HDFC Bank

S1

S2

R1

R2

COMMENT

2270

2265

2298

2312

Initiate fresh short positions with a tight stop-loss if the stock fails to move beyond ₹2,298 levels

 

₹748 • Infosys

S1

S2

R1

R2

COMMENT

740

732

755

763

Fresh long positions are recommended with a fixed stop-loss only if the stock advances above ₹755 levels

 

₹294 • ITC

S1

S2

R1

R2

COMMENT

292

289

297

300

Consider initiating fresh short positions with a tight stop-loss if the stock of ITC falls below ₹292 levels

 

₹155 • ONGC

S1

S2

R1

R2

COMMENT

152

149

158

161

Fresh short positions can be initiated with a stiff stop-loss if the stock of ONGC reverses down from ₹158 levels

 

₹1353 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1340

1335

1370

1384

Consider initiating fresh long positions with a fixed stop-loss only if the stock moves beyond ₹1,370 levels

 

₹321 • SBI

S1

S2

R1

R2

COMMENT

313

305

326

333

Fresh long positions are recommended with a tight stop-loss if the stock of SBI climbs above ₹326 levels

 

₹2014 • TCS

S1

S2

R1

R2

COMMENT

1993

1970

2035

2055

The stock witnesses selling pressure at higher levels. Selling intra-day rallies with a fixed stop-loss at ₹2035 levels

 

11679 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11630

11580

11730

11780

Fresh short positions can be initiated with a tight stop-loss only if the contract declines below 11,630 levels

 

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

April 5 | 9:00 am

Today's Pick: Coromandel International (₹456): Sell

Investors with a short-term perspective can consider selling the stock of Coromandel International at current levels. The stock is experiencing selling pressure and had extended its recent decline by slumping 3 per cent with above average volume on Thursday. This fall has decisively breached the key support at ₹470 and the 50-day moving average. Click here to read in full Today's Pick on Coromandel International

 

Published on April 05, 2019