Closing bell
Domestic indices ended flat, as gains in technology stocks offset losses in other sectors, while minutes of the central bank's policy panel meeting stoked expectations of an interest rate hike.
The broader NSE index ended down by 1.25 points or 0.01 per cent at 10,564.05, gaining 0.8 per cent for the week. The benchmark BSE index closed lower by 11.71 points or 0.03 per cent at 34,415.58, gaining 0.6 percent for the week. Both indexes marked a fourth consecutive weekly gain.
The NSE IT index gained about 5 per cent, with the country's top software services exporter Tata Consultancy Services Ltd marking its record closing high.
Among BSE sectoral indices, IT and TECk were the star-performers, while realty, banking, power and PSU succumbed to heavy selling pressure.
Top five Sensex gainers were TCS, Infosys, Coal India, Wipro and Bharti Airtel, while the major losers were YES Bank, ICICI Bank, Tata Steel, SBI and HDFC.
Bullion prices
Gold recorded a steep fall of Rs 240 to Rs 32,390 per 10 grams at the bullion market due to weak global cues amid easing demand rom local jewellers. Read more
ICICI Bank clarifies on succession plan
ICICI Bank has said its board continues to support Managing Director and CEO Chanda Kochhar and has not discussed any succession plan with shareholders. Read more
Silver futures
Silver prices softened by 0.50 per cent to Rs 40,431 per kg at the futures trade. Read more
Gold futures
At the Multi Commodity Exchange, gold for delivery in June fell Rs 145 or 0.46 per cent to Rs 31,453 per ten grams in a business turnover of 189 lots. Read more
Bond yields spike
Bond yields spiked, while the rupee dropped to its lowest in more than a year on Friday after minutes of the monetary policy committee's last meeting suggested it was likely to take a more hawkish stance - starting as early as June. Read more
Gold heads for 1st weekly decline in 3 weeks
Spot gold was down 0.1 per cent at $1,344.10 an ounce at 0650 GMT, while US gold futures fell 0.2 per cent to $1,346.30 per ounce. Spot gold fell 0.2 per cent on the week. Read more
Buy gold if it dips to $1,335/oz
Comex gold futures have been moving perfectly in line with our expectations. In the coming week, we expect $1,335-40 to hold for a push higher towards $1,365, opening the way for $1,374 levels or even higher to $1,400. Read more
I-T returns take new form
The annual tax-return filing ritual will soon be upon us. The Tax Department has notified the new income tax return forms to be used by assessees this year. Here are the changes that salaried tax payers need to take cognisance of, before filing their returns this year. Read more
Insurance Uncovered
In motor insurance, third-party cover is mandatory while own-damage (OD) cover is optional. While a third-party cover protects the life or property of a third party by the insured vehicle, the OD cover insures your vehicle against damage or theft. Read more
Domestic indices were trading in the negative zone as minutes of the central bank's policy panel meeting stoked expectations of an interest rate hike, with losses in financials and metals overshadowing gains in information technology stocks.
The rupee dropped to its lowest in more than a year following a hawkish tone in the minutes, released on Thursday, of the Reserve Bank of India's monetary policy committee (MPC) meeting that took place earlier this month.
“Release of the minutes revive the risk of an earlier-than-expected rate hike,” Morgan Stanley said in a note.
The Sensex was trading down by 35.29 points or 0.1 per cent at 34,392 and the Nifty down 18.4 points or 0.17 per cent at 10,546.90.
“Markets will remain volatile this year as they are making new highs and factors such as upcoming elections, crude prices and dollar will only add to the volatility,” Sudhakar Pattabiraman, head of research operations at William O'Neil's MarketSmith.
The underlying sentiment in India is, however, positive and the earnings season will set the future trajectory for the markets, Pattabiraman said.
Nifty 50 April Futures (10,547)
High risk appetite traders can go short at current levels. Stop-loss can be placed at 10,565 for the target of 10,505. Read more
India sees benefits from reforms: IMF
The implementation of the goods and services tax, despite a bumpy road, is going to help secure the solidity of foundation of public finances, says David Lipton, International Monetary Fund’s First Deputy Managing Director. Read more
Mahindra CIE Automotive
Shares of Mahindra CIE Automotive gained on strong Q4 profit. The stock rose as much as 7.6 per cent to Rs 249.8, highest since January 16. Read more
Nifty IT index hits record high
Nifty IT Index gained as much as 3.9 per cent to a record high of 13,789.1. The index has broken above a resistance near 13,465, the 38.2 per cent Fibonacci projection level of the uptrend from the low of March 6, 2009 to the high of March 4, 2015. Read more
Post-noon trade
The Sensex and Nifty were trading marginally down due to weak global cues and as the rupee plunged below the 66-mark.
Domestic sentiment was hit as the release of the minutes of last Monetary Policy Committee meeting on April 4-5 indicated that the Reserve Bank of India may shift to a hawkish monetary stance in June.
Brokers said besides continued capital outflows by foreign funds, profit-booking in recent gainers, rupee’s fall below the 66-mark and rising global crude oil prices hurt the trading sentiment.
According to provisional data, foreign funds sold shares worth Rs 624.99 crore yesterday.
The 30-share BSE index was trading down by 58.28 points or 0.17 per cent at 34,369.01 and the 50-share NSE index Nifty down 24.9 points or 0.24 per cent at 10,540.40.
Among BSE sectoral indices, IT and TECk were the star-performers. On the other hand, metal, realty, banking and PSU succumbed to selling pressure.
Top five Sensex gainers were TCS, Infosys, Wipro, Tata Motors, and Coal India, while the major losers were YES Bank, Tata Steel, SBI, Asian Paints and Reliance.
11.55 am
Eveready hits 6-month low
Shares of Eveready plunged as much as 10.6 per cent to Rs 328, their lowest since October 2017. The stock posted biggest intraday percentage loss since early November 2016 and on track to lose for a sixth straight session. Read more
TCS hits record high
Shares of Tata Consultancy Services Ltd rose as much as 4.3 per cent to a record high of Rs 3,326.65. The stock posted biggest intraday percentage gain since April 12. Read more
SEBI ruling on share transfer among promoters
SEBI says Inter-se transfer of shares between promoters in a listed company does not require any approval from minority shareholders. The market regulator has filed an affidavit with the Securities Appellate Tribunal articulating its stand on the issue. Read more
Fortis gets unsolicited offer from Radiant Life
The takeover battle for Fortis Healthcare Ltd intensified after KKR-backed Radiant Life Care Pvt Ltd has entered the fray with an offer to buy more than a quarter of the cash-strapped company's hospital business. Read more
ICICI Bank succession plan
ICICI Bank’s board is looking at the option of reviving the positions of Joint Managing Director / Deputy Managing Director, who could step into the shoes of the Managing Director & CEO as and when a vacancy arises. Read more
10.40 am
Asian markets
Japan's Nikkei fell 0.5 per cent with tech down 0.9 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.4 per cent, again led by a 0.7 per cent drop in technology. Read more
Rupee cracks below 66-level
The rupee weakened by 25 paise to hit a 13-month low of 66.05 against the US dollar in early trade as the MPC minutes hint at more hawkish tone. Read more
The Sensex and Nifty were trading marginally down due to weak global cues and as the rupee plunged below the 66-mark.
Domestic sentiment was hit as the release of the minutes of last Monetary Policy Committee meeting on April 4-5 indicated that the Reserve Bank of India may shift to a hawkish monetary stance in June.
Brokers said besides continued capital outflows by foreign funds, profit-booking in recent gainers, rupee’s fall below the 66-mark and rising global crude oil prices hurt the trading sentiment.
According to provisional data, foreign funds sold shares worth Rs 624.99 crore yesterday.
The 30-share BSE index was trading down by 46.35 points or 0.13 per cent at 34,380.94 and the 50-share NSE index Nifty down 20.25 points or 0.19 per cent at 10,545.05.
Among BSE sectoral indices, IT and TECk were the star-performers. On the other hand, metal, realty, banking and PSU succumbed to selling pressure.
Top five Sensex gainers were TCS, Infosys, Wipro, Tata Motors, and Coal India, while the major losers were Tata Steel, SBI, Asian Paints, YES Bank and Bajaj Auto.
Fortis board to evaluate only binding offers
Manipal Hospitals and the Munjal-Burman duo continue to be in the race for a stake in Fortis’ Hospitals with the company’s board deciding to focus on evaluating only binding offers. However, companies that made bids tied to due-diligence such as Malaysia’s IHH Healthchare Berhad and China’s Fosun may have lost out. Read more
Biometrix investment in RIL entities under I-T scanner
India’s Foreign Tax and Tax Research division has sought information from various countries, including Singapore, on the ₹6,500-crore investment by Singapore’s Biometrix Marketing in companies belonging to Reliance Industries or its promoter group. Read more
Reconsider Arcelor, Numetal bids: NCLT
The Ahmedabad Bench of the National Company Law Tribunal has asked the Resolution Professional and the Committee of Creditors to re-examine the bids for the Ruias-promoted Essar Steel India submitted in the first round by ArcelorMittal India and Numetal Mauritius. Read more
Day Trading Guide
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹1941 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
1930 | 1920 | 1950 | 1960 | Fresh long positions are recommended with a fixed stop-loss only if the stock climbs beyond ₹1950 levels |
₹1132 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
1120 | 1110 | 1143 | 1150 | The stock witnesses buying interest at lower levels. Buy in declines with a stiff stop-loss at ₹1120 levels |
Click here to view the full guide
9.15 am
The Sensex opened marginally higher by 20.77 points at 34,448.06 against Thursday's close of 34,427.29 and the Nifty down 2.6 points at 10.562.70 against 10,565.30.
9.05 am
Today's stock pick
BGR Energy Systems (₹110.2): Buy
Investors with a contrarian view and willing to take risk can buy the stock of BGR Energy Systems at current levels. Read more