Markets Live: Sensex surges 287 points on firm global cues; Nifty ends at 10,212

Closing bell

Domestic equities ended higher, the first trading day of the new financial year, as a recovery in global markets bolstered sentiment, while auto stocks such as Tata Motors Ltd were among top gainers on strong March domestic vehicle sales.

The broader NSE index closed up by 98.1 points or 0.97 per cent at 10,211.80, while the benchmark BSE index ended higher by 286.68 points or 0.87 per cent at 33,255.36.

 

The Nifty auto index gained as much as 2.3 per cent with Tata Motors rising 4.3 per cent in its biggest intraday percentage gain since early November. Pharmaceutical shares also gained.

BSE sectoral indices

Top NSE gainers

Top NSE losers

 

NTPC achieves 53,000 MW capacity

NTPC has announced the commissioning of the first unit of the 2x660 MW super-critical Meja Thermal Power Project in Allahabad. Read more

 

JSW Steel joins race for Essar Steel

JSW Steel plans to join the consortium formed by Russia’s VTB Bank-promoted Numetal Mauritius to acquire the stressed assets of Essar Steel. Read more

 

Gold rises on US-China trade tensions

Gold prices rose as the dollar eased amid renewed concerns over a trade war after China imposed additional tariffs on US products in response to US duties on imports of aluminium and steel. Read more

 

Honey, how well do you understand money?

Money, money, money/Always sunny/In the rich man’s world, crooned ABBA all those years ago. And money’s become even more important in today’s world. Read more

 

 

Pre-close trade

Domestic equities were trading higher by 0.8 per cent on positive global cues. The Sensex was up 233.72 points or 0.71 per cent at 33,202.40 and the Nifty up 80.35 points or 0.79 per cent at 10,194.05.

 

Among BSE sectoral indices, healthcare, auto, capital goods and infrastructure remained investors' favourite, while banking, PSU and oil & gas succumbed to selling pressure.

 

 

Top five Sensex gainers were Kotak Bank, Adani Ports, Tata Motors, Hero MotoCorp and Wipro, while the major losers were ICICI Bank, Axis Bank, Coal India, State Bank of India and Bharti Airtel.

NSE sectoral indices

NSE gainers

NSE losers

 

“We believe the market has fallen quite a bit from its all-time high, as there was a correction which was required. We expect things to start changing as it is time the market finds support,” said Sudhakar Pattabiraman, head of research operations at William O'Neil's MarketSmith.

Essel MF to ride on liquid funds

Essel Mutual Fund, a recent entrant in the Indian mutual fund industry, is eyeing assets under management of Rs 8,000-9,000 crore by end-March 2019. Read more

 

Berger Paints India (₹256.4): The significant long-term support in the ₹235-240 held well for the stock of Berger Paints India. This support band consistently provided base for the stock in February and March. Read more

 

Domestic equities were trading higher by nearly 0.7 per cent on the first trading day of the new financial year, tracking gains in global equity markets.

At 2 pm, the 30-share BSE index Sensex was up 204.22 points or 0.62 per cent at 33,172.90 and the 50-share NSE index Nifty up 66.15 points or 0.65 per cent at 10,179.85.

The Nifty auto index gained as much as 1.7 per cent. Tata Motors rose 3.5 per cent, after posting a 35 per cent jump in March domestic vehicle sales.

The country's largest automaker Maruti Suzuki India Ltd climbed 2.6 per cent after reporting a 14.9 per cent rise in March vehicle sales.

Dilip Buildcon Ltd surged as much as 12 per cent to a record high after research firm BofA Merrill Lynch initiated coverage on the stock with “buy” rating, citing a strong order pipeline.

Meanwhile, ICICI Bank Ltd plunged 7 per cent to a five-month low after media reported its lending practices were the subject of a police investigation and after the central bank fined the lender for not sticking to certain rules around the sale of government securities.

IDBI Bank Ltd slipped as much as 4.6 per cent after a media report said that the Reserve Bank of India had written to the finance ministry expressing concern over “the poor financial position” of IDBI Bank.

Asian stocks began the new quarter with mild gains after Wall Street surged on Thursday, ending a tumultuous first quarter on a high note. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.13 per cent.

“We believe the market has fallen quite a bit from its all-time high, as there was a correction which was required. We expect things to start changing as it is time the market finds support,” said Sudhakar Pattabiraman, head of research operations at William O'Neil's MarketSmith. - Reuters

 

NTPC: Generating promise

Investors with a long-term perspective can buy the stock of NTPC, India’s largest power generating company. After a good run for most of calendar 2017, the stock has slipped about 9 per cent since November.  Read more

 

 

Nifty futures

Traders can go long on a break above 10,210. Stop-loss can be placed at 10,195 for the target of 10,245.  Read more

 

Debt securities auction

BSE will auction investment limits for foreign investors to purchase government bonds worth over Rs 11,000 crore on Tuesday. Read more

 

ICICI Bank board meeting today

ICICI Bank board will meet today to review the insolvency cases pending before the National Company Law Tribunal, and other routine matters. Read more

 

Ashok Leyland sales jump

Hinduja Group flagship company Ashok Leyland has reported a 20 per cent increase in total sales at 22,453 units for March 2018 against 18,701 units in the same month last year. Read more

 

M&M sales up 10%

Mahindra & Mahindra has reported a 10 per cent increase in total sales at 62,077 units in March against 56,202 units for the same month last year. Read more

 

Bajaj Auto sales jump 23%

Bajaj Auto has reported a 23 per cent increase in total sales at 3,34,348 units in March compared with 2,72,197 units during the same month a year ago. Read more

 

China stocks open on a firm note

At 0404 GMT, the Shanghai Composite index was up 0.18 per cent at 3,174.47, while China’s blue-chip CSI300 index climbed 0.12 per cent to 3,903.19. Hong Kong stock market was closed on Monday for Easter holiday. Read more

 

KNR Constructions: Road to success

Investors with a two-year horizon can buy the shares of KNR Constructions. At ₹288, the stock trades at 18 times its likely FY19 earnings. Read more

 

Cipla: Healthy prognosis

Cipla has a strong domestic presence, a growing US pipeline, traction in Europe and emerging market businesses. It holds a healthy position in the respiratory and oncology segments.Investors with a two to three-year time horizon can consider buying the stock. Read more

 

Dollar holds steady

The dollar last traded at 106.30 yen, after having risen more than 1.5 per cent last week for its biggest weekly gain since September 2017. Read more

 

Domestic equities were trading higher on the first trading day of the new financial year 2018-19 owing to positive global cues. The Sensex was up 163.51 points or 0.5 per cent at 33,132.19 and the Nifty up 49.6 points or 0.49 per cent at 10,163.30.

 

Among BSE sectoral indices, healthcare, auto, capital goods and infrastructure were the major losers, while banking, PSU and consumer durables lost investors' support.

 

 

Top five Sensex gainers were Kotak Bank, Tata Motors, Adani Ports, Dr Reddy's and Maruti, while the major losers were ICICI Bank, Axis Bank, State Bank of India, Coal India and Bharti Airtel.

NSE sectoral indices

Top NSE gainers

 

Top NSE losers

 

Gold falls on easing trade tension

Uncertainty in the global markets could keep the sentiment mixed in the coming week. Also, gold could remain volatile as markets head towards key US unemployment and non-farm payroll numbers data due on Friday. Read more

 

Crude oil rises on lower drilling activity

US WTI crude futures were at $65.21 barrel at 0122 GMT, up 27 cents, or 0.4 per cent, from their previous settlement. Brent crude futures were fetching $69.71 per barrel, up 37 cents, or 0.55 per cent. Read more

 

Nikkei holds steady

The Nikkei rose 0.6 per cent to 21,572.73 in midmorning trade, near its 25-day moving average of 21,499.66, after opening a tad lower. Read more

 

Sandhar Technologies jumps over 5%

Shares of Sandhar Technologies Ltd rose over 5 per cent on their market debut following a warm response to the automotive parts maker’s Rs 512 crore ($78.64 million) initial public offering. Read more

 

ICICI Bank plunges to 5-month low

Shares of ICICI Bank Ltd plunged nearly 5 per cent after the country’s federal police launched a preliminary investigation to assess whether there was any wrongdoing in the bank’s lending practices. Read more

 

Asian markets

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent. South Korea's KOSPI gained 0.6 per cent and Japan's Nikkei advanced 0.55 per cent. Hong Kong's Hang Seng added 0.25 per cent and Shanghai was up 0.4 per cent. Read more

 

Domestic equities were trading higher on the first trading day of the new financial year 2018-19 amid positive global cues. The 30-share BSE index Sensex was up 70.53 points or 0.21 per cent at 33,039.20 and the 50-share NSE index up 21.9 points or 0.22 per cent at 10,135.60.

 

Among BSE sectoral indices, auto, capital goods, infrastructure and healthcare remained investors' favourite, while banking, PSU, consumer durables and realty succumbed to selling pressure.

 

NSE sectoral indices

NSE gainers

 

NSE losers

 

 

 

Tata Steel can consolidate sideways (₹570.9)

A revisit to ₹550 is likely in the near term. A bounce from ₹550 can take it back to ₹600 again. In such a scenario, a range-bound move between ₹550 and ₹600 can be seen for some time. Read more

 

RIL hovers above a crucial support (₹882.8)

A crucial support is at ₹870, which is likely to be tested. If RIL manages to bounce from there, the downside pressure will ease. It will keep the broader ₹870-960 sideways range intact and increase the possibility of the stock bouncing back to ₹900 and ₹920 initially. Read more

 

 

 

Short-term view is negative for Infosys (₹1,134.4)

Immediate resistances are at ₹1,140 and ₹1,145. A break above ₹1,145 can ease the downside pressure and take the stock up to ₹1,160. Read more

 

ITC can remain range bound (₹255.9)

A dip to revisit the crucial support at ₹250 is likely in the near term. If the stock manages to bounce again from ₹250, it can move higher and remain range-bound between ₹250 and ₹265 for some time. Read more

 

 

 

Weekly trading guide

Near-term outlook is unclear for SBI (₹250.1)

The near-term outlook is unclear. The price action will be key in deciding the next move. Key resistance is in the ₹257-260 region.  Read more

 

 

Opening bell

The 30-share BSE index Sensex gained 62.19 points to 33,030.87 and the 50-share NSE index Nifty rose 47.1 points at 10,160.80 against the previous close of 10,113.70.

Index Outlook

Investors need to keep tab on the global markets, which has been the driving force in recent times. The March month auto sales numbers and rupee movement also need to be watched. Read more