Markets Live: Sensex soars 470 points as US, China set to begin trade talks

Domestic shares snapped a 2-day losing streak as world stocks rebounded on report of US-China trade talks. The 30-share BSE index Sensex ended higher by 469.87 points or 1.44 per cent at 33,066.41 and the 50-share NSE index Nifty closed up by 132.6 points or 1.33 per cent at 10,130.65.

 

Recovery in financial stocks such as YES Bank Ltd offset declines in IT stocks such as Wipro Ltd.

YES Bank led the gains on the NSE index, ending 6.4 per cent higher, after falling in the last five sessions. State Bank of India rose 5.3 per cent, following three sessions of losses.

BSE sectoral indices

 

Nifty gainers

 

Nifty losers

 

NSE sectoral indices

 

Bullion prices

A weak global trend and easing demand from local jewellers pulled down gold prices by Rs 35 to Rs 31,800 per ten gram. Silver also drifted lower by Rs 100 to Rs 39,500 per kg due to reduced offtake by industrial units and coin makers. Read more

 

 

Global markets

World stocks came off six-week lows and US stock futures jumped on optimism that the United States and China are set to begin negotiations on trade, easing fears about a trade war between the world's two largest economies.  Read more

 

Closing bell

The Sensex rallied 508.68 points or 1.56 per cent to 33,105.22 and the Nifty jumped 139 points or 1.39 per cent to 10,137.05.

The Sensex and Nifty jumped nearly 1.5 per cent at pre-close trade as fears of a full-blown trade conflict between the world's two biggest economies eased on a report that the United States has contacted China seeking measures to reduce their trade imbalance.

MSCI's world equity index, which tracks shares in 47 countries, turned positive on the day, having earlier hit its lowest level since February 9, after a Wall Street Journal report that Treasury Secretary Mnuchin was considering a visit to Beijing to begin negotiations.

The Sensex surged 439.75 points or 1.35 per cent to 33,036.29 and the Nifty jumped 122.65 points or 1.23 per cent to 10,120.70.

 

Among BSE sectoral indices, metal index gained the most by 2.44 per cent, followed by banking 2.39 per cent, consumer durables 2.16 per cent and capital goods 1.73 per cent. Only IT index was down 0.57 per cent and TECk 0.18 per cent.

Top five Sensex gainers were YES Bank, SBI, Tata Steel, HDFC Bank and HDFC, while the major losers were Wipro, Infosys and NTPC.

Syngene inks pact with GSK

Syngene International, a global contract research services company, has entered into an R&D agreement with healthcare major GSK. Read more

 

JSW Steel to expand Texas operations

JSW Steel would invest up to $500 million for expanding its operations in Texas as part of a memorandum of cooperation between its US unit and the Texas Governor's office. Read more

 

 

Zydus Cadila to sell cardiac drug

Zydus Cadila has received final nod from US health regulator to market Metoprolol Succinate extended-release tablets, used for the treatment of various cardiac conditions, in the American market. Read more

 

The S&P BSE Sensex jumped over 310 points on heavy buying in consumer durables, banking, metal and auto stocks amid firm European cues.

The 30-shares BSE index Sensex was trading higher by 310.18 points or 0.95 per cent at 32,906.72 and the Nifty up 79.2 points or 0.79 per cent at 10,077.25.

NSE gainers

NSE losers

BSE sectoral indices

NSE sectoral indices

 

European shares opened slightly higher on Monday amid optimism the protectionist shift in US trade policy may be more selective and tactical than first feared. The regional STOXX 600 benchmark rose 0.2 per cent, with Germany's export-sensitive DAX up 0.3 per cent.

 

Infrastructure IPOs

Performance of infrastructure companies, which got listed post 2012, have been better than those listed prior to 2012. Almost all have been successful or are giving positive returns. Read more

 

SEBI new buyback rules

SEBI is considering to come out with new norms on share buyback programme, under which maximum limit for share repurchase will be 25 per cent of the company’s paid up capital and other reserves. Read more

 

Prism Cement in a medium-term downtrend

The stock of Prism Cement changed direction after encountering a key resistance at around ₹150 in mid-January this year. Since then, the stock has been in a medium-term downtrend. Short-term trend is also down for the stock. Read more

 

 

The Sensex was trading higher by 170 points on heavy buying in consumer durables, banking and capital goods stocks amid firm European cues.

The 30-share BSE index Sensex was up 169.78 points or 0.52 per cent at 32,766.32 and the 50-share NSE index Nifty up 27.2 points or 0.27 per cent at 10,025.25.

BSE gainers, losers

BSE sectoral indices

NSE sectoral indices

Nifty gainers

Nifty losers

 

European shares opened slightly higher amid optimism that the protectionist shift in US trade policy may be more selective and tactical that first feared.

The regional STOXX 600 benchmark rose 0.2 per cent, with Germany's export-sensitive DAX up 0.3 per cent.

Nifty futures

The Nifty 50 futures contract has been oscillating around the psychological 10,000-mark since Friday. Traders can stay out of the market until the range breakout gives a clear cue on the next trend. Read more

 

 

Silver falls at futures trade

Taking weak cues from overseas markets, silver prices traded lower by 0.24 per cent at Rs 38,780 per kg at the futures market as participants reduced their exposure. Read more

Gold futures decline

Tracking a weak trend overseas, gold prices fell 0.33 per cent to Rs 30,805 per ten grams at the futures trade as participants trimmed their positions. Read more

LME copper extends declines

London Metal Exchange copper was down 1.2 per cent at $6,580 a tonne, as of 0521 GMT, adding to losses from the previous session. Read more

 

Domestic shares were trading marginally higher as concerns of a looming trade war between the United States and China continued to hurt global sentiment.

US President Donald Trump had signed a memorandum on Friday that could impose tariffs on up to $60 billion of imports from China, although the measures have a 30-day consultation period before they take effect.

Mounting trade tensions battered Asian shares, with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.4 per cent.

“The main concern is that the (Indian) markets are not bouncing back from current levels and we are not seeing sustained buying,” said Manav Chopra, head of research at Indiabulls Ventures.

“As long as the NSE index trades below 10,060 levels, markets will experience some selling pressure.”

At 12.35 pm, the Sensex was trading up by 64.3 points or 0.2 per cent at 32,660.84 and the Nifty up 2.95 points or 0.03 per cent at 10,001.

Shares of Indian oil refiners fell as Brent crude futures rose to $71.05 per barrel, their highest since January 25, although the global crude benchmark subsequently pared the gains.

Shares of HPCL declined 4.6 per cent, while Bharat Petroleum Corp Ltd and Indian Oil Corp Ltd slipped more than 2 per cent.

IT stocks also fell, with Wipro Ltd sliding 4 per cent to its lowest since July 20, while Infosys Ltd was down over 1 per cent. Nifty IT index was trading 0.98 per cent lower after gaining in four out of the last five months.

BSE gainers, losers

NSE gainers

NSE losers

 

Downtrend intact for Tata Steel (₹566.6)

Tata Steel has tumbled 16 per cent over the last three weeks. Immediate support is at ₹550. But the stock is vulnerable to break below this level in the coming days as the downtrend has gathered momentum and any upmove would find fresh selling interest coming into the stock. Read more

 

Immediate outlook is unclear for RIL (₹892.8)

RIL was stuck in a narrow range in the past week. The stock was range-bound between ₹887 and ₹911 and has closed on a slightly negative note. The immediate outlook is unclear. Read more

 

Infosys consolidated within its uptrend(₹1,167.4)

The ₹1,140-₹1,130 region continues to provide strong support for Infosys. The stock made a low of ₹1,140 and has reversed higher from there. The ₹1,130-₹1,200 sideways range remains intact. Intermediate resistance is at ₹1,177. Read more

 

 

Short-term view is negative for ITC(₹256.3)

Weakness in the broader markets dragged ITC below the key support level of ₹258 in the final trading session of the week. The ₹258-₹259 resistance region can cap the upside in the near term. Read more

 

Trading guide

SBI is vulnerable for further fall (₹234.6)

The ongoing scams and frauds in the banking sector is keeping stocks in this space under pressure. Traders with a medium-term perspective can go short at current levels and at ₹240. Read more

 

MMTC, STC shares climb

MMTC Ltd shares climbed as much as 10 per cent to Rs 60 and State Trading Corp of India Ltd shares jumped as much as 5 per cent to Rs 142.85. Read more

 

 

Indiabulls Real Estate shares up 4%

Shares of Indiabulls Real Estate rose on divestment deal with Blackstone. The stock jumped as much as 3.8 per cent to Rs 199.80. Read more

 

 

The Sensex and Nifty were trading flat as concerns of a looming trade dispute between the United States and China weighed on global markets.

The possibility of a full-blown trade war between the United States and China battered Asian shares on Monday. The falls came after US President Donald Trump had last week signed a memorandum that could impose tariffs on up to $60 billion of imports from China.

At 11.10 am, the 30-share BSE index Sensex was up 7.45 points or 0.02 per cent at 32,603.99 and the 50-share NSE index Nifty down 7.35 points or 0.07 per cent at 9,990.70.

BSE gainers, losers

BSE sectoral indices

 

NSE gainers, losers

 

NSE sectoral indices

 

Crude oil falls

US West Texas Intermediate crude futures were at $65.51 a barrel at 0255 GMT, down 37 cents, or 0.6 per cent, from their previous close. Read more

 

 

Gold hits 5-week high

Gold prices rose early Monday to a five-week high as the threat of a trade war between the United States and China drove investors to seek refuge in safe assets. Read more

 

Rupee trading strong at 64.93

The rupee was trading strong at 64.93 against the US dollar at the interbank forex market today on sustained selling of the greenback by exporters and banks amid foreign capital inflows. Read more

 

 

 

Asian shares tumble

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.1 per cent for their fourth consecutive day in the red. The index is headed for its first quarterly loss since late 2016 as the risk of faster US rate rises and the spectre of a trade war spooked investors who had enjoyed a multi-year bull run. Read more

 

 

Nikkei drops to 6-month low

The Nikkei fell 0.9 per cent to 20,439.98 in midmorning trade after hitting a low of 20,347.49, the weakest since late September.  Read more

 

The Sensex and Nifty were trading flat due to selling by domestic institutional investors owing to weakness in Asian markets on trade war concerns. Fears of a full-blown trade war between the United States and China battered Asian shares again on Monday, keeping the safe haven yen near a 16-month peak as investors fretted over the fate of global growth.

At 10 am, the 30-share BSE index Sensex was up 26.87 points or 0.08 per cent at 32,623.41 and the 50-share NSE index Nifty down 8.4 points or 0.08 per cent at 9,989.65.

Among BSE sectoral indices, oil & gas index fell the most by 1.12 per cent, followed by IT 0.77 per cent, TECk 0.6 per cent and healthcare 0.27 per cent. On the other hand, consumer durables index was up 1.1 per cent, realty 0.8 per cent, consumer durables 0.58 per cent and banking 0.54 per cent.

 

NSE sectoral indices

 

Sensex gainers, losers

Nifty gainers, losers

 

M-cap of top-10 Sensex cos

Nine of the 10 most valued companies together lost ₹36,467.94 crore in market valuation last week, with SBI taking the steepest hit. Read more

 

FPIs infuse Rs 8,400 cr this month

Foreign investors have infused over ₹8,400 crore in the the Indian equity markets so far in March on expectations of a rebound in corporate earnings and easing of global oil prices. Read more

 

 

 

ICICI Securities: Promising platform

ICICI Securities, the largest equity broking company in the country, is making its stock market debut, as its promoter — ICICI Bank – is offloading a part of its stake. Read more

 

 

 

The sentiment turns bearish

Both the Nifty and the Sensex are set to end the month in the red, for the second consecutive month, after tumbling 4.8 per cent and 4.9 per cent respectively in February. These indices have plunged about 4.7 per cent so far this month. Read more

 

 

The Sensex opened marginally up by 8.35 points or 0.03 per cent at 32,604.89 and the Nifty down by 9.85 points or 0.1 per cent at 9,988.20. Fears of a full-blown trade war between the United States and China battered Asian shares again on Monday, keeping the safe haven yen near a 16-month peak as investors fretted over the fate of global growth.

 

The 30-share BSE index Sensex was down 60.1 points or 0.18 per cent at 32,536.44 and the 50-share NSE index Nifty down 8.9 points or 0.09 per cent at 9,989.15.