Markets Live: Sensex closes at over 2-month high of 34,451

Closing bell

The BSE Sensex ended at an over two-month high of 34,450.77 in a choppy trade on steady buying in realty, healthcare, consumer durables and IT sectors.

Heavy buying in TCS shares and encouraging earnings from some blue-chip companies also supported the uptrend. However, the trading was volatile due to negative Asian cues, lower opening in Europe and a weak rupee.

Tata Consultancy Services touched the $100-billion market capitalisation mark intra-day, but ended the session a tad lower.

The Sensex resumed higher at 34,493.69 but quickly slipped to 34,259.27 due to profit-booking and weak Asian cues. It bounced back to touch a high of 34,663.95, before ending at 34,450.77, up by 35.19 points or 0.10 per cent. This is its highest closing since February 5 when it had ended at 34,757.16.

The Nifty touched a high of 10,638.35 before settling at 10,584.70 -- up 20.65 points, or 0.20 per cent. Intra-day, it hit a low of 10,514.95.

Top 10 Nifty gainers

Top 10 Nifty losers

NSE sectoral indices

 

On a net basis, domestic institutional investors had bought shares worth Rs 111.01 crore, while foreign portfolio investors sold to the tune of Rs 21.02 crore on Friday.

 

Global markets

MSCI's world index fell 0.2 per cent after Asia shed 0.5 per cent overnight and Europe then slipped 0.3 per cent as results from Switzerland's biggest bank, UBS, disappointed and the rise in yields put pressure on bond-proxy sectors. Read more

 

Bullion prices

Gold fell Rs 140 to Rs 32,310 per ten gram at the bullion market. Silver also went down by Rs 150 to Rs 41,350 per kg. Read more

 

National gold policy needed

Due to inappropriate price discovery mechanism and lack of standard invoicing system, domestic gold prices vary in different local markets. A gold spot exchange, to facilitate participants trade gold with immediate cash settlement and policies on gold trade, can play a pivotal role in transforming Indian gold industry. Read more

 

European markets

European shares fell as results from Switzerland's biggest bank, UBS, disappointed investors, and a rise in US Treasury yields put pressure on bond-proxy sectors. Read more

 

Pre-close trade

The Sensex was trading higher by 169.49 points or 0.49 per cent at 34,585.07 and the Nifty up 52.2 points or 0.49 per cent at 10,616.25. Among BSE sectoral indices, realty, healthcare, IT and TECk remained investors' favourite, while metal, FMCG and infrastructure succumbed to selling pressure.

 

Top five Sensex gainers were IndusInd Bank, M&M, Sun Pharma, Asian Paints and YES Bank, while the major losers were HDFC Bank, HUL, Coal India, ICICI Bank and ONGC.

Top 10 Nifty gainers

Top 10 Nifty losers

 

“Market is waiting to take a direction amid mixed news... There is caution ahead of earnings season and high crude (oil) levels,” said Neeraj Dewan, director at Quantum Securities.

Market heavyweights Reliance Industries, Wipro Ltd and Bharti Airtel Ltd are expected to report March-quarter earnings this week.

Munjals, Burmans extend validity for Fortis offer

Hero Enterprise Investment and the Burman Family have extended the validity of their improved, joint binding offer to invest Rs 1,500 crore in Fortis Healthcare till May 4. Read more

 

Patanjali places Rs 9K cr bid for Ruchi Soya

Baba Ramdev-led Patanjali Ayurved has placed a ₹9,000-crore bid to acquire Ruchi Soya through the ongoing insolvency process under the National Company Law Tribunal. Read more

 

Lupin has received approval from the US health regulator to market Tetrabenazine tablets used for the treatment of involuntary movements associated with Huntington’s disease. The company shares were trading up by 1.93 per cent at Rs 813.75. Read more

 

Nifty 50 April Futures (10,609)

Traders with a near-term view can make use of intra-day dips to buy the contact as long as it trades above 10,590 levels with a fixed stop-loss at 10,580 levels. The contract can test resistance at 10,625 levels. Read more

 

NCLT allows Liberty House bid

The National Company Law Tribunal has asked the lenders of Bhushan Power & Steel, led by PNB, to consider the bid submitted by UK-based Liberty House for the debt-ridden company. Read more

 

Domestic indices continued to trade higher on heavy buying in IT, TECK and realty stocks amid weak European cues. Investors turned optimistic ahead of key corporate earnings of index heavyweights this week.

The Sensex was trading up by 193.75 points or 0.56 per cent at 34,609.33 and the Nifty up 65.75 points or 0.62 per cent at 10,629.80.

 

TCS surged over 4 per cent, following which the IT major became the first listed Indian company to hit market capitalisation of over $100 billion (Rs 6,80,912.10 crore).

 

“Market is waiting to take a direction amid mixed news... There is caution ahead of earnings season and high crude (oil) levels,” said Neeraj Dewan, director at Quantum Securities.

Market heavyweights Reliance Industries, Wipro Ltd and Bharti Airtel Ltd are expected to report March-quarter earnings this week.

Meanwhile, foreign portfolio investors had sold shares worth Rs 21.02 crore on a net basis, while domestic institutional investors bought equities to the tune of Rs 111.01 crore last Friday.

 

Tata Steel (₹606.35)

The 21-day moving average at ₹589 is providing strong support. The near-term will remain positive while the stock sustains above ₹600. An up-move to test the crucial ₹630-₹635 resistance region is likely in the short term. Read more

 

RIL (₹928)

The stock has been stuck in this range for a prolonged period of time. Immediate outlook is unclear. The cluster of supports in between ₹920 and ₹910 are likely to be tested in the near term. Read more

 

Infosys (₹1,178.2)

Technically, the psychological support level of ₹1,100 is continuing to hold well. The sharp bounce back from this support indicates the presence of fresh buyers at low levels. Read more

 

Rupee slumps to 66.23

The rupee fell to as low as 66.235 against the dollar, its weakest level since March last year due to heavy foreign capital outflows. It has fallen 1.5 per cent so far this month. Read more

ITC (₹275.9)

ITC surged 5.8 per cent, breaking above the key resistance level of ₹266 in the past week. The strong rally has turned the short-term outlook positive. Immediate support is at ₹272 — the 200-day moving average and the next key support is at ₹268. Read more

 

SBI (₹241.4)

The stock has tumbled 7 per cent over the last two weeks, indicating that the downtrend is intact. The immediate support at ₹231 is likely to be tested in the coming days. Read more

 

Post noon trade

The Sensex and Nifty were trading higher on heavy buying in realty, IT, TECk and healthcare stocks amid weak Asian cues.

IT stocks jumped as the country's second largest software exporter, TCS, crossed $100 billion in market capitalisation. TCS shares gained as much as 4.6 per cent to hit a record high of Rs 3,557.90.

Strong results from the company and Infosys Ltd , coupled with a weakening of the rupee, have led to buying in the sector. The Nifty IT index gained as much as 2 per cent to touch a record high.

The rupee fell to as low as 66.235 against the dollar, its weakest level since March last year. It has fallen 1.5 per cent so far this month.

“Market is waiting to take a direction amid mixed news... There is caution ahead of earnings season and high crude (oil) levels,” said Neeraj Dewan, director at Quantum Securities.

Market heavyweights Reliance Industries, Wipro Ltd and Bharti Airtel Ltd are expected to report March-quarter earnings this week.

Financials stocks also rose, with YES Bank and Kotak Mahindra Bank among top percentage gainers. Indiabulls Housing Finance rose as much as 2.3 per cent after strong results in the March quarter.

HDFC Bank Ltd posted a record profit for the March quarter, but its bad loans rose. Shares pared initial gains to trade 0.6 per cent lower.  - Reuters

 

TCS hits $100-bn m-cap

Shares of Tata Consultancy Services surged over 4 per cent, following which the IT major became the first listed Indian company to hit a market capitalisation of over $100 billion (Rs 6,80,912.10 crore). Read more

 

 

 

Profit-booking pulls HDFC Bank down

Shares of HDFC Bank Ltd rose as much as 1.2 per cent to ₹1,979 in early trade before slipping into negative territory.  Read more

 

Indiabulls Housing

Shares of Indiabulls Housing Finance Company gained as much as 2.1 per cent to Rs 1,385 on strong Q4 profit. Read more

 

 

Asian markets

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent, with South Korea off 0.3 per cent. Japan's Nikkei also eased 0.3 per cent as tech stocks continued to struggle with a warning on waning demand for mobile phones. Read more

 

The benchmark BSE Sensex was trading higher by nearly 150 points on heavy buying in IT, TECk and healthcare stocks. However, the trading was highly volatile due to weak Asian cues and F&O expiry later this week.

The Sensex was up 140.70 points or 0.41 per cent at 34,556.28 and the Nifty up 45.95 points or 0.43 per cent at 10,610.

Top five Sensex gainers were TCS, YES Bank, IndusInd Bank, M&M and Sun Pharma, while the major losers were ONGC, Hero MotoCorp, Coal India, Bajaj Auto and HDFC Bank.

 

TCS shares were up over 4% as the country’s largest software exporter reported a 4.4 per cent growth in its consolidated net profit at Rs 6,904 crore for the March 2018 quarter and its board recommended a 1:1 bonus share issue.

Shares of HDFC Bank Ltd rose as much as 1.2 per cent to ₹1,979 in early trade today before slipping into negative territory.

On a net basis, domestic institutional investors had bought shares worth a net Rs 111.01 crore, while foreign portfolio investors (FPIs) sold shares worth a net Rs 21.02 crore on Friday.

 

Nikkei edges lower

The Nikkei fell 0.2 per cent to 22,114.03 in midmorning trade. Medical equipment maker Terumo Corp stumbled 3.4 per cent and SoftBank shed 1.0 per cent, collectively knocking 25 points off the Nikkei. Read more

 

Rupee slips for 6th straight day

The rupee weakened by 4 paise to 66.16 against the US dollar in early trade due to foreign capital outflows. Read more

 

Domestic indices were trading flat owing to weak Asian cues. The 30-share BSE index Sensex was trading up 21.11 points or 0.06 per cent at 34,436.69 and the 50-share NSE index Nifty up 15.2 points or 0.14 per cent at 10,579.25.

Among BSE sectoral indices, realty, IT, TECk and healthcare remained investors' favourite, while metal, infrastructure, consumer durables and FMCG succumbed to selling pressure.

 

Top five Sensex gainers were TCS, YES Bank, IndusInd Bank, Bharti Airtel and M&M, while the major losers were ICICI Bank, Hero MotoCorp, HDFC Bank, Coal India and HUL.

 

Asian stocks dipped as investors braced for a bevy of earnings from the world's largest corporations, while keeping a wary eye on US bond yields as they approach peaks that have triggered market spasms in the past.

Capital enhancer fund

The IIFL Asset Management has launched the IIFL Capital Enhancer Fund - Series 1, an annual interval scheme investing in equity and equity-related securities.  Read more

 

Indices poised at a critical barrier

Corporate earnings will continue to dominate the markets in the coming week but investors need to keep an eye on the progress of the monsoon as well as the April month derivative expiry week. Read more

 

Insider trading

Are you a stock trader or investor and active on social media such as Facebook, WhatsApp and Instagram? Then keep a close watch on your friends list and beware of what you are sharing and liking! Read more

 

FIIs pull out Rs 8,000 cr so far this month

Foreign investors have pulled out nearly Rs 8,000 crore from the Indian capital markets so far this month due to ‘considerable’ volatility in global markets on account of the ongoing trade negotiations and firming up of bond yields. Read more

 

The Sensex opened flat at 34,415.7 against the previous close of 34,415.58 and the Nifty opened at 10,571.95 against 10,564.05.

TCS m-cap close to $100-billion mark 

The combined market valuation of 6 of the top-10 most-valued Indian companies surged Rs 91,152.73 crore last week, led by a sharp rally in the m-cap of TCS. Read more