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Closing bell
The Sensex and Nifty ended higher on heavy buying in power, infrastructure, PSU and bank stocks amid weak global cues. Gains in state-run lenders were offset by the losses in tech stocks such as Wipro.
The 30-share BSE index Sensex closed up by 115.27 points or 0.35 per cent at 33,370.63 and the 50-share NSE index Nifty ended up 33.2 points or 0.33 per cent at 10,245.
Among BSE sectoral indices, power, infrastrucutre, PSU and banking remained investors' favourite, while consumer durables, IT and TECk succumbed to selling pressure.
NSE sectoral indices
Top five Sensex gainers were ICICI Bank, M&M, YES Bank, PowerGrid and Bharti Airtel, while the major losers were Wipro, ONGC, Adani Ports, HDFC Bank and L&T.
Nifty gainers
Nifty losers
ICICI Bank Ltd and State Bank of India led the gains after the central bank's decision to allow lenders to spread their bond trading losses, in a move that will likely boost the profitability of banks. ICICI Bank and SBI snapped two sessions of declines to close up 3.1 per cent and 1.8 per cent, respectively.
Bullion prices
Gold rose Rs 150 to Rs 31,610 per 10 gram. Silver advanced by Rs 225 to Rs 39,600 per kg due to increased offtake by industrial units and coin makers. Read more
Globally, gold rose 1.19 per cent to $1,340.80 an ounce and silver by 1.53 per cent to $16.60 an ounce in New York in yesterday’s trade.
Global markets
Europe’s main markets in London, Paris and Frankfurt were all down more than 0.5 per cent, after being closed on Monday when the pace of selling had pushed US markets below pivotal technical levels. Read more
Europe’s main markets in London, Paris and Frankfurt were all down more than 0.5 per cent, after being closed on Monday when the pace of selling had pushed US markets below pivotal technical levels.
The Sensex rose nearly 110 points at the pre-close trade on heavy buying in power, banking, infrastructure and PSU stocks amid weak global cues.
At 3.15 pm, the 30-share BSE index Sensex was up 109.83 points or 0.33 per cent at 33,365.19 and the 50-share NSE index Nifty up 32.45 points or 0.32 per cent at 10,244.25.
Among BSE sectoral indices, power index gained the most by 1.55 per cent, followed by banking 1.19 per cent, infrastructure 1.18 per cent and PSU 1.13 per cent. On the other hand, consumer durables fell 0.64 per cent, IT 0.23 per cent and TECk 0.07 per cent.
Top five Sensex gainers were ICICI Bank, M&M, YES Bank, PowerGrid and Bharti Airtel, while the major losers were Wipro, ONGC, Adani Ports, HDFC Bank and NTPC.
Range-bound rupee could turn bearish
If the trade war intensifies in the coming days and the dollar weakens, the rupee can sustain above 65.3. In such a scenario, the 64.7-65.3 sideways range will remain intact and the currency can strengthen towards 65 and 64.8 again in the short term. Read more
While 58,160 entities have cumulatively withdrawn cash over ₹ 1.75 lakh crore in the range of ₹ 2-5 crore, as many as 14,552 have withdrawn a total of ₹ 98,900 crore in the range of ₹ 5-10 crore.
Pre-close trade
Domestic equities were trading flat as renewed fears of a trade war between the United States and China and a slump in tech shares such as Amazon.com triggered a global selloff.
At 2.50 pm local time, the Sensex was trading up by 46.48 points or 0.14 per cent at 33,301.84 and the Nifty up 8.65 points or 0.08 per cent at 10,220.45.
BSE sectoral indices
Gains in state-run lenders were offset by losses in tech stocks such as Wipro. Shares of state-run lenders rose after the Reserve Bank of India allowed banks to spread their bond trading losses, in a move that will likely boost the profitability of banks.
“Investors are a bit cautious as global markets are down. However, banks are doing well today because of RBI's latest move, which is supporting the markets,” said Neeraj Dewan, director, Quantum Securities.
The Nifty PSU bank index climbed as much as 2.9 per cent and was on track to snap a two-day losing streak.
Oil marketers also gained, with Hindustan Petroleum Corp Ltd rising 3.6 per cent while Indian Oil Corp Ltd and Bharat Petroleum Corp Ltd were up over 1 per cent each'
NSE gainers
Meanwhile, Wipro and Tech Mahindra Ltd led losses on the NSE index, falling over 2 per cent each, as investors booked profits. Both stocks had gained in the last three sessions.
NSE losers
“Since crude is stabilising, some buying is coming back as oil marketing stocks had been oversold due to high crude prices,” Dewan added.
Gold inches lower
Spot gold was down 0.1 per cent at $1,339.60 per ounce, as of 0712 GMT. US gold futures eased 0.3 per cent to $1,343.60 an ounce. Read more
Spot gold was down 0.1 per cent at $1,339.60 per ounce, as of 0712 GMT.
East Bridge Capital hikes stake in Fortis
East Bridge Capital Master Fund has bought an additional 3.86 per cent stake in Fortis Healthcare for over Rs 256 crore through a market transaction. Read more
Bank stocks rally
Bank stocks gained up to 5 per cent today after the Reserve Bank of India allowed lenders to spread the provisions for bond losses in the third and fourth quarters of FY18 over the next four quarters. Read more
Shares of Bank of India rose by 4.92 per cent, Syndicate Bank 4.52 per cent, Bank of Baroda 4.33 per cent, Indian Bank 3.59 per cent, UCO Bank 3.19 per cent, State Bank of India 2.72 per cent and Bank of Maharashtra 2.18 per cent on the BSE
BSE arbitrage rate index
Asia Index, a joint venture between S&P Dow Jones Indices and BSE, has launched arbitrage rate index. Read more
The S&P BSE Arbitrage Rate Index will equally weigh long positions in the Sensex and equivalent short positions in the futures contracts.
L&T India Value
Funds that follow a value-investing strategy could be better placed to ride out the ongoing market volatility and uncertainty. L&T India Value is a good choice in this category Read more
Nifty 50 April Futures (10,247)
Traders should remain cautious as long as the contract is range-bound between 10,225 and 10,265 levels. Read more
Domestic equities were trading lower tracking global peers, with gains in state-run lenders such as State Bank of India being capped by losses in tech stocks such as Wipro.
Investor sentiment was subdued as renewed fears of a trade war between the United States and China and a slump in tech shares such as Amazon.com triggered a global selloff.
On the other hand, shares of state-run lenders rose after the Reserve Bank of India allowed banks to spread their bond trading losses, in a move that will likely boost the profitability of banks.
“Investors are a bit cautious as global markets are down. However, banks are doing well today because of RBI's latest move, which is supporting the markets,” said Neeraj Dewan, director, Quantum Securities.
At 1.30 pm, local time, the Sensex was trading down by 31.25 points or 0.09 per cent at 33,224.11 and the Nifty down 15.45 points or 0.15 per cent at 10,196.35.
The Nifty PSU bank index climbed as much as 2.9 per cent and was on track to snap a two-day losing streak.
Meanwhile, Wipro and Tech Mahindra Ltd led losses on the NSE index, falling over 2 per cent each, as investors booked profits. Both stocks had gained in the last three sessions.
Oil marketers also gained, with Hindustan Petroleum Corp Ltd rising 3.6 per cent while Indian Oil Corp Ltd and Bharat Petroleum Corp Ltd were up over 1 per cent each.
“Since crude is stabilising, some buying is coming back as oil marketing stocks had been oversold due to high crude prices,” Dewan added. - Reuters
Technical analysis
Palm oil will test resistance, dip
CPO active month June contract are moving higher testing resistance levels, but the decline we anticipated after that has not materialised. Prices are turning friendly, but still continue to display neutral to bearish tendencies. Read more
A temporary setback for Persistent Systems
The stock of Persistent Systems nose-dived and fell about 12 per cent last week, as the company announced that its IP-led revenues would decrease by $8 million in the fourth quarter of this fiscal. The fall in IP sales may be a temporary setback, as the revenue momentum is expected to return in a couple of quarters. Read more
Govt plans second tranche of Bharat-22 ETF
The government plans to hit the market with the follow-on offer of Bharat-22 ETF, with ICICI Prudential Mutual Fund filing draft papers for the second round. Read more
Small-cap index falls 11.6%
Small and mid-cap indices of the BSE have taken a bigger hit compared to their bigger peers, with smaller stocks falling up to 12 per cent so far this year. Read more
The small-cap index had scaled its record high of 20,183.45 on January 15 this year and the mid-cap index had hit its lifetime peak of 18,321.37 on January 9, 2018.
Downtrend is intact in MCX-Aluminium
Support is at ₹130. As long as the contract sustains above this support, a relief rally toward ₹134 or ₹134.5 is possible in the near-term on the back of short-covering. Read more
‘Look at the current markets as a discount sale’
The Indian equity market is down 4 per cent till date in 2018 amid a lot of volatility, making investors jittery. However, VK Sharma, Head — Private Client Group and Capital Market Strategy at HDFC Securities, looks at this as an opportunity to buy favourite stocks. Read more
VK SHARMA, Head — Private Client Group & Capital Market Strategy, HDFC Securities
Essel Mutual Fund
Essel Mutual Fund is eyeing assets under management (AUM) of ₹8,000-9,000 crore by end-March 2019. Read more
Viral Berawala, CIO, Essel MF
The Sensex and Nifty were trading down by nearly 0.3 per cent as the manufacturing PMI fell to a five-month low of 51.0 in March. Nikkei India Manufacturing PMI fell from 52.1 in February to a five-month low of 51.0 in March.
Domestic sentiment was also hit as Asian stocks extended a global selloff as an escalating trade spat between the United States and China and a renewed slump in tech shares such as Amazon.com sapped investor confidence.
At 11.35 am, the Sensex was down 70.81 points or 0.21 per cent at 33,184.55 and the Nifty down 25 points or 0.24 per cent at 10,186.80.
Among BSE sectoral indices, consumer durables, IT, TECk and capital goods succumb to selling pressure, while PSU, metal, banking and healthcare found investors' support.
Top five Sensex gainers were YES Bank, IndusInd Bank, State Bank of India, M&M and Tata Motors, while the major losers were Wipro, Adani Ports, L&T, ONGC and HDFC.
NSE sectoral indices
NSE gainers
NSE losers
Motherson Sumi gains over 5%
Shares of Motherson Sumi Systems jumped as much as 5.2 per cent to the highest since February 16. Read more
BL30_MAIN2_THINK1
Tyre stocks jump
Shares of tyre makers Apollo Tyres Ltd and TVS Srichakra Ltd were up over 2 per cent each on falling rubber prices. Read more
MRF Ltd rose as much 3.25 per cent to an all-time high of ₹ 75,500.
Forex market
The dollar held steady at 105.91 yen, struggling to gain traction after having fallen for three straight trading days, and trading below a two-week high around 107.00 yen set on March 28. Read more
Crude oil edges up
Crude oil prices inched up as rising Russian output and expectations of a reduction in Saudi Arabian crude prices were offset by a potential slowdown in US production. Brent crude futures rose to $67.84 per barrel, up 20 cents, or 0.3 per cent. Read more
Bonds rally
Bonds rallied as the central bank has allowed banks to spread their trading losses over four quarters. Read more
Rupee up 12 paise at 65.06
The rupee was trading strong at 65.06 on fresh selling of the greenback by exporters. Read more
The rupee strengthened by 9 paise to 65.09 against the US dollar.
Nikkei falls as tech stocks underperform
Japan’s Nikkei share average fell on Tuesday morning, led by technology firms and makers of electronic components after US tech stocks tumbled overnight on resurgent trade war fears. Read more
Nintendo Co stumbled 2.8 per cent, Nikon Corp dropped 2.1 per cent and Fanuc Corp stumbled 2.8 per cent.
Asian markets
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.28 per cent pressured by the tech sector. Japan's Nikkei slipped 1.1 per cent while South Korea's KOSPI index skidded about 1 per cent with Samsung Electronics down more than 1 per cent. Australian shares were off 0.3 per cent. Read more
PO12_Down_arrow
The Sensex and Nifty were trading flat as Asian shares slipped amid escalating trade tensions and worries over the fading outlook for global tech giants, but investors held their nerves to focus instead on prospects for stronger world growth.
At 10.10, the Sensex was up 28.36 points or 0.09 per cent at 33,283.72 and the Nifty up 7.35 points or 0.08 per cent at 10,220.35.
Among BSE sectoral indices, PSU, banking, auto and healthcare remained investors' favourite, while metal, consumer durables, TECk and IT succumbed to selling pressure.
Top five Sensex gainers were YES Bank, State Bank of India, ICICI Bank, M&M and Tata Motors, while the major losers were Wipro, Adani Ports, Tata Steel, ONGC and Coal India.
NSE sectoral indices
Amazon shares tumble
Shares of Amazon.com Inc fell 6 per cent on Monday after US President Donald Trump again attacked the online retailer over the pricing of its deliveries through the United States Postal Service and promised unspecified changes. Read more
Packages emblazoned with Amazon logos travel along a conveyor belt inside of an Amazon fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2017. REUTERS/Lucas Jackson
MFs to be allowed to invest in gold futures
SEBI will soon allow mutual funds to invest in gold futures by letting them amend the investment objective of existing gold schemes to have an exposure to commodity futures markets. Read more
RBI move may revive buying in bank stocks
Bank shares may see buying interest, as the Reserve Bank has allowed banks to spread the mark-to-market losses provisioning over a maximum of four quarters. Read more
Debt rating
Around 3,900 companies, the debt instruments of which are rated by Crisil, have stopped providing information or cooperating regarding the same with the rating agency. Read more
bl20_credit rating.jpg
Day Trading Guide
₹1930 • HDFC Bank
₹1137 • Infosys
Click here to view the full table
9.15 am
The Sensex opened down by 57.94 points at 33,197.42 against the previous close of 33,255.36 and the Nifty down 1.1 points at 10,210.70 against Monday's close of 10,211.80.
9.10 am
US stocks
Wall Street shares plunged as investors fled technology stocks amid resurgent trade war worries, with key indexes trading below their 200-day moving averages and the S&P 500 closing below that pivotal technical level for the first time since Britain’s vote to leave the European Union in June 2016. Read more
The Dow Jones Industrial Average fell 458.92 points, or 1.9 per cent, to end at 23,644.19 after dipping below its 200-day moving average. The S&P 500 fell 58.99 points, or 2.23 per cent, to 2,581.88 and the Nasdaq Composite dropped 193.33 points, or 2.74 per cent, to 6,870.12.
9.05 am
Today's stock pick
NIIT (₹104.6) : Buy
Short-term investors can buy the stock of NIIT at current levels. The stock had been on a medium-term downtrend after encountering a key resistance at ₹119 in January. Read more
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