Markets Live: Sensex plunges 206 points on derivatives expiry, weak global cues; Nifty ends at 10,121

European markets

Technology companies led European stocks lower on persistent concerns over a regulatory crackdown and falls in major tech stocks overnight.  Read more

 

Bullion market closed today

Bullion and wholesale commodity markets in the national capital were closed today as traders shut shops for the day to protest against the city-wide sealing drive. Read more

 

Closing bell

The Sensex slipped 206 points to end at 32,969 on the last trading session of 2017-18, finishing the fiscal with a gain of 11.30 per cent. The 50-share NSE index Nifty also ended 70 points lower at 10,113.70.

 

Besides weak global cues, squaring-up of positions by investors owing to expiry of March derivatives contracts halted the two-session winning run.

The Sensex has gained 3,348.18 points or 11.30 per cent during fiscal 2017-18. The index had gained 16.88 per cent in the previous fiscal.

 

The broader Nifty closed the fiscal with gains of 939.95 points or 10.25 per cent. During the previous fiscal, it had scored gains of 1,435.55 points or 18.55 per cent.

 

For the day, the Sensex snapped its two-session winning streak to end lower by 205.71 points or 0.62 per cent at 32,968.68. It hovered between 33,104.11 and 32,917.66 during the session. The gauge had rallied 577.85 points in the past two sessions.

The NSE Nifty too ended the day down by 70.45 points or 0.69 per cent at 10,113.70 after shuttling between 10,158.35 and 10,096.90.

 

On a weekly basis, the Sensex rose 372.14 points, or 1.14 per cent, while the Nifty gained 115.65 points, or 1.16 per cent.

Stock exchanges will be closed on Thursday and Friday on account of ‘Mahavir Jayanti’ and ‘Good Friday’, respectively.

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Transmission of mutual funds on death

In the case of mutual fund investments, the units held by the deceased holder are transferred to the surviving unit holder or nominee or the legal heir; this process is known as transmission. Read more

 

No change in small savings interest rates

The Finance Ministry says there will be no change in the interest rate on small savings instruments like the National Savings Certificate and the Public Provident Fund. Read more

 

The Sensex was trading down by over 170 points at pre-close session due to due to offloading of positions by investors ahead of March F&O expiry. Also, weak global cues dampened the trading sentiment.

Traders also remained wary ahead of fiscal deficit data for the period April 2017-February 2018 to be unveiled later in the day. April-January data stands at 113.7 per cent of the target originally set for the fiscal year that ends in March.

At 2.50 pm, the 30-share BSE index Sensex was trading lower by 175.82 points or 0.53 per cent at 32,998.57 and the 50-share NSE index Nifty down by 60.1 points or 0.59 per cent at 10,124.05.

BSE sectoral indices

Domestic shares are expected to have a volatile session, ahead of the expiry of derivatives contracts and an extended holiday.

“Towards the close, we may see some buying coming in as today is the last day for the financial year,” said Krish Subramanyam, co-head and equity adviser at Altamount Capital, adding that the market is expected to stage a recovery in April.

Indian markets will remain closed on Thursday and Friday on account of public holidays.

 

Property deals are getting smart

Nearly all assets — shares, mutual funds, insurance policies — have a digital footprint. Property assets have been lagging far behind when it comes to moving to the digital era. But this is set to change, thanks to the big push from Governments at various levels. Read more

 

Rate hike likely in August

Inflation risks are overdone, and the Reserve Bank is expected to go for a rate cut in August, even as it may strike a “balanced tone” at the ensuing policy review meet next month. Read more

 

Your fund portfolio

Tata Retirement Saving Fund- Moderate Plan is a quality fund and has performed extremely well over the past five years. But given that it is an equity-oriented balanced fund, the scheme would be subject to market volatility and there could be erosion in NAVs during falls. Read more

 

 

Mixed show by monthly income plans

Monthly income plans are seen as attractive debt-oriented options by most conservative investors for the purpose of generating a stable cash flow. Read more

 

L&T Tax Advantage

L&T Tax Advantage has been in the top quartile of the category over one- and three-year periods. While the fund underperformed category returns in the 2014 rally (though beating benchmark), its performance over the past two years has been among the best within the ELSS basket. Read more

Nifty 50 March futures (10,137)

Traders with a short-term view can go short, with a fixed stop-loss at 10,155 levels. The contract can decline to 10,125 and 10,100 levels. Read more

 

 

Adrift, Varun shareholders seek compensation

Retail shareholders are seeking compensation from SEBI, the stock exchanges and the investor protection fund claiming losses due to non-listing of two de-merged entities of the erstwhile Varun Shipping Ltd through a court-backed process finalised more than three years ago. Read more

 

 

The Sensex was trading weak by over 170 points due to offloading of positions by investors ahead of March F&O expiry. Also, weak global cues dampened the trading sentiment.

Traders also remained wary ahead of fiscal deficit data for the period April 2017-February 2018 to be unveiled later in the day. April-January data stands at 113.7 per cent of the target originally set for the fiscal year that ends in March.

At 1.20 pm, the 30-share BSE index Sensex was trading lower by 174.28 points or 0.53 per cent at 33,000.11 and the 50-share NSE index Nifty down by 53.05 points or 0.52 per cent at 10,131.10.

 

ICICI Bank and Axis Bank slipped as much as 2 per cent, after gaining in the last two sessions. The Nifty private bank index fell as much as 0.8 per cent, on track to snap a two-day gaining streak.

BSE sectoral indices

NSE gainers

 

NSE losers

 

Domestic shares are expected to have a volatile session, ahead of the expiry of derivatives contracts and an extended holiday.

“Towards the close, we may see some buying coming in as today is the last day for the financial year,” said Krish Subramanyam, co-head and equity adviser at Altamount Capital, adding that the market is expected to stage a recovery in April.

Indian markets will remain closed on Thursday and Friday on account of public holidays.

Fortis-Manipal deal

The merger deal between TPG-backed Manipal Hospitals and Fortis’ hospital division announced late Tuesday evening is valued at Rs 15,000 crore and would take about 9-12 months for completion. Read more

 

Gold remains steady

Gold was little changed after falling in the previous session as concerns about a potential trade war between the United States and China eased. Read more

 

Fortis Healthcare shares nosedive

Shares of Fortis Healthcare tumbled nearly 11 per cent after the company said its board has approved the demerger of its hospitals business.Read more

 

 

Bharti Airtel drops over 3%

Shares of Bharti Airtel hit a week-low, and technicals suggested further downside. The stock fell as much as 3.19 per cent to Rs 400, lowest since March 21. Read more

 

Persistent Systems tanks 10%

Shares of Persistent Systems fell on weak Q4 IP revenue forecast. The stock tanked as much as 9.9 per cent to Rs 706.25, its lowest since February 2. Read more

 

 

IDBI Bank shares plunge 3.5%

IDBI Bank says fraudulent loans of Rs 772 crore ($118.8 million) were issued from five of its branches in Andhra Pradesh and Telangana. The shares fell as much as 3.5 per cent to Rs 73.6 by 0512 GMT, while the index for public sector lenders Nifty PSU Bank index dropped as much as 1.8 per cent. Read more

 

PE investments hit all-time high

Private equity investments hit an all-time high of $21 billion in 2017, recording a 54 per cent jump in value terms over last year, largely driven by big-ticket transactions. Read more

 

HAL shares tumble over 5%

Shares of Hindustan Aeronautics Ltd dropped over 5 per cent in early trade after the government-owned company’s initial public offering had raised Rs 4,113 crore ($633.35 million) last week. Read more

 

Domestic equities continued to trade weak due to offloading of positions by investors ahead of March F&O expiry and the end of financial year 2017-18. Also, weak global cues dampened the trading sentiment.

Traders also remained wary ahead of fiscal deficit data for the period April 2017-February 2018 to be unveiled later in the day. April-January data stands at 113.7 per cent of the target originally set for the fiscal year that ends in March.

The 30-share BSE index Sensex was trading lower by 180.96 points or 0.55 per cent at 32,993.43 and the 50-share NSE index Nifty down by 56.75 points or 0.56 per cent at 10,127.40.

 

Among BSE sectoral indices, metal index fell the most by 1.51 per cent, followed by power 0.98 per cent, infrastructure 0.82 per cent and oil & gas 0.59 per cent.

 

 

Meanwhile, on a net basis, foreign funds had bought shares worth Rs 1,063.12 crore, while domestic institutional investors made purchases to the tune of Rs 2,172.91 crore on the bourses yesterday.

Dollar falls on trade war concerns

The dollar index, which measures the greenback versus a group of six major currencies, dipped 0.1 per cent to 89.291. It had gained about 0.34 per cent overnight, pulling away from a five-week low of 88.942. Read more

 

 

Markets are at high-value zone

Experts feel that the markets will continue to remain on tenterhooks as valuations are still high and the domestic macro environment has deteriorated (higher bond yields, oil, current account deficits). Read more

 

 

Rupee weakens to 65.02

The rupee slipped to 65.02 as domestic equities remained weak due to offloading of positions by traders ahead of March F&O expiry and the end of financial year 2017-18. Read more

 

Varun Shipping demerger

Non-listing of two de-merged entities of erstwhile Varun Shipping has left retail investors in the lurch. Read more

 

 

How the I-Sec IPO scraped through

Ironic as it sounds, ICICI Securities, one of the top brokerages in the country, had to contend with the cold shoulder that investors gave it during the company’s ₹4,000-odd crore offer-for-sale. Read more

 

The benchmark BSE Sensex was trading down by over 210 points as investors are cutting bets on the last trading session of March F&O expiry and the end of financial year 2017-18.

At 10.10 am, the Sensex was down 211.66 points or 0.64 per cent at 32,962.73 and the Nifty down 61.6 points or 0.6 per cent at 10,122.55.

Among BSE sectoral indices, metal index fell the most by 1.94 per cent, followed by power 1.06 per cent, infrastructure 1.05 per cent and PSU 0.97 per cent, while only consumer durables index was up 0.08 per cent.

Top five Sensex gainers were Wipro, IndusInd Bank, TCS, Kotak Bank and HDFC, while the major losers were Tata Steel, Adani Ports, Bharti Airtel, ICICI Bank and Axis Bank.

Markets will remain closed on Thursday and Friday on account of Mahavir Jayanti and Good Friday, respectively.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 1,063.12 crore, while DIIs made purchases to the tune of Rs 2,172.91 crore yesterday, provisional data showed.

AVG Logistics IPO

Sixth Sense India Opportunities II, promoted by former IDFC Securities star equity analyst Nikhil Vora, has fully subscribed to the anchor portion of the SME IPO of AVG Logistics. Read more

 

INX hits record daily turnover

India International Exchange has hit a record daily trading turnover of Rs 3,287 crore on its derivatives segment with transactions in gold futures contributing to 57 per cent of the total value. Read more

 

 

Brokers' call

YES Securities

IRB Infra (Accumulate)

CMP: ₹219.4

Target: ₹295

We believe IRB’s foray into HAM with more assured cash flows and the upcoming TOT (toll-operate-transfer) opportunity should provide the next leg of growth and drive re-rating. Read more

Day Trading Guide for March 28

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

₹1893 • HDFC Bank

 

 

₹1152 • Infosys

 

Click here to view the full text

 

Today's stock pick

JK Tyre & Industries (₹156.9)

Investors with a short-term horizon can consider buying the stock of JK Tyre & Industries at current levels as the stock is under bullish momentum. Read more

 

 

Opening bell

The Sensex shed 154.46 points or 0.47 per cent to 33,019.93 and the Nifty fell 55.85 points or 0.55 per cent to 10,128.30.

Pre-open trade

The 30-share BSE index Sensex was down 76.3 points or 0.23 per cent at 33,098.04 and the 50-share NSE index Nifty down 40.55 points or 0.4 per cent at 10,143.60.