Markets Live: Sensex ends higher by 108 points; SBI, IndusInd Bank top gainers

MCX Zinc stuck in a narrow range

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The S&P BSE Sensex ended higher by 107.98 points or 0.33 per cent at 33,174.39 and the Nifty50 closed up 53.50 points or 0.53 per cent at 10,184.15.

 

A surprise cut in the government's borrowing programme for the next fiscal year and easing of trade war fears on reports of trade talks between US and China boosted investor sentiment.

BSE sectoral indices

 

 

The government plans to borrow Rs 2.88 lakh crore ($44.46 billion) in the first half of the 2018/19 financial year that begins in April, the government had said on Monday, adding it will borrow Rs 50,000 crore less for the full year 2018/19.

Government bonds also rose, posting their sharpest intraday gain in more than four years, with the 10-year bond yield dropping to as much as 7.3565 per cent from 7.62 per cent.

“Good macros, improved sentiment as a result of India's borrowing plans, good amount of valuation adjustment due to correction in the market earlier have all translated into positivity in the markets,” said Arihant Capital Markets Whole Time Director Anita Gandhi.

Global markets jumped and the dollar fell on Tuesday as reports that the United States and China were negotiating to avert a trade war whetted investors' appetite for riskier assets.

 

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SEBI board meet

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Domestic shares continued to trade higher owing to surprise cut in government market borrowing programme and on reports of trade negotiations between the US and China.

The 30-share BSE index Sensex was up 125.65 points or 0.38 per cent at 33,192.06 and the 50-share NSE index Nifty up 48.2 points or 0.48 per cent at 10,178.85.

 

Among BSE sectoral indices, PSU, metal, oil & gas and banking gained between 0.9 per cent and 1.7 per cent.

 

Top five Sensex gainers were SBI, IndusInd Bank, Tata Steel, TCS and Asian Paints, while the major losers were Bharti Airtel, Bajaj Auto, HDFC,  Hero MotoCorp and Wipro.

Reports of talks between the United States and China to renegotiate tariffs and trade imbalances eased trade war concerns, boosting global equities. Asian shares rose , with MSCI's broadest index of Asia-Pacific shares outside Japan rising 1 per cent.

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The Sensex was trading higher by nearly 170 points as a surprise cut in the government's borrowing programme for the next fiscal year boosted domestic sentiment, with lenders such as the State Bank of India among top gainers.

The government had announced borrowing of Rs 2.88 lakh crore in the April-September period of 2018-19, lower than Rs 3.72 lakh crore it had borrowed in the first half of the current fiscal. It has also decided to introduce bonds linked to CPI or retail inflation.

Reports of trade negotiations between the US and China, easing fears of a trade war, also drove investor sentiment. Asian shares rose , with MSCI's broadest index of Asia-Pacific shares outside Japan rising 1 per cent.

At 1.35 pm local time, the Sensex was up 168.38 points or 0.51 per cent at 33,234.79 and the Nifty up 58.95 points or 0.58 per cent at 10,189.60.

Among BSE sectoral indices, metal, PSU, healthcare and banking gained between 1.1 and 1.8 per cent. Top five Sensex gainers were SBI, Tata Steel, Axis Bank, TCS and HUL, while the major losers were Bharti Airtel, Bajaj Auto, Hero MotoCorp, HDFC and M&M.

Meanwhile, foreign portfolio investors had sold shares worth Rs 741.19 crore on a net basis, while domestic institutional investors had bought equities to the tune of Rs 2,017.95 crore yesterday.

F&O expiry

Trading was highly volatile due to roll over of positions in the F&O segment from the near month March 2018 series to April 2018 series. The March 2018 F&O contracts will expire on March 28.

Fiscal deficit data

Also, traders remained wary ahead of fiscal deficit data. Fiscal deficit data for the period April 2017-February 2018 will be unveiled on Wednesday. April-January fiscal deficit data stood at 113.7 per cent of the target originally set for the fiscal year that ends in March. Finance Minister Arun Jaitley in his Budget speech for 2018-19 had revised the fiscal deficit target for the current year to 3.5 per cent of GDP from 3.2 per cent earlier. 

Nifty futures trading strategy

Traders should tread with caution as long as the contract moves in a sideways range between 10,150 and 10,200. Fresh long positions are recommended with a fixed stop-loss only if the contract moves beyond 10,200 levels. Read more

 

 

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Lemon Tree IPO

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Domestic shares were trading higher as a surprise cut in the government's borrowing programme for the next fiscal year boosted sentiment, with lenders such as the State Bank of India among top gainers.

The government plans to borrow Rs 2.88 lakh crore ($44.46 billion) in the first half of the 2018/19 financial year that begins in April, the government had said on Monday, adding it will borrow Rs 50,000 crore less for the full year 2018/19.

Government bonds also rose, posting their sharpest intraday gain in more than four years, with the 10-year bond yield dropping to as much as 7.3565 per cent from 7.62 per cent.

Meanwhile, reports of talks between the United States and China to renegotiate tariffs and trade imbalances eased trade war concerns, boosting global equities. Asian shares rose , with MSCI's broadest index of Asia-Pacific shares outside Japan rising 1 per cent.

“Good macros, improved sentiment as a result of India's borrowing plans, good amount of valuation adjustment due to correction in the market earlier have all translated into positivity in the markets,” said Arihant Capital Markets Whole Time Director Anita Gandhi.

At 12.30 pm local time, the Sensex was trading up by 117.63 points or 0.36 per cent at 33,184.04 and the Nifty up 44.2 points or 0.44 per cent at 10,174.85.

The Nifty PSU bank index climbed over 2 per cent, while the Nifty private bank index rose as much as 1.2 per cent. SBI rose as much as 2.2 per cent, while Axis Bank Ltd gained 3 per cent.

Metal stocks also rose, with Tata Steel Ltd up 3 per cent and Steel Authority of India Ltd climbing 3.9 per cent.

F&O expiry

Trading was highly volatile due to roll over of positions in the F&O segment from the near month March 2018 series to April 2018 series. The March 2018 F&O contracts will expire on March 28.

Fiscal deficit data

Also, traders remained wary ahead of fiscal deficit data. Fiscal deficit data for the period April 2017-February 2018 will be unveiled on Wednesday. April-January fiscal deficit data stood at 113.7 per cent of the target originally set for the fiscal year that ends in March. Finance Minister Arun Jaitley in his Budget speech for 2018-19 had revised the fiscal deficit target for the current year to 3.5 per cent of GDP from 3.2 per cent earlier. 

Nifty bank index jumps over 2%

Nifty PSU Bank index jumped as much as 2.2 per cent, while Nifty Private Bank index gained as much as 1.2 per cent on surprise cut in government's market borrowings. Read more

 

Fortis Healthcare jumps over 4%

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ICICI Secutities

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Yen vs dollar

The safe haven Japanese yen sagged on Tuesday as optimism that the United States and China could begin negotiations on trade helped ease concerns about a trade war, reviving demand for riskier assets. Read more

 

 

Gold dips as trade war fears ebb

Spot gold fell 0.1 per cent to $1,352.40 per ounce at 0111 GMT. US gold futures for April delivery fell 0.2 per cent to $1,352.20 per ounce. Read more

 

Domestic shares turned flat as traders remained wary ahead of March F&O expiry and release of fiscal deficit data till February on Wednesday. The 30-share BSE index Sensex was trading up by 35.46 points or 0.11 per cent at 33,101.87 and the 50-share NSE index Nifty up 15.95 points or 0.16 per cent at 10,146.60.

Nifty gainers

Nifty losers

F&O expiry

Trading was highly volatile due to roll over of positions in the F&O segment from the near month March 2018 series to April 2018 series. The March 2018 F&O contracts will expire on March 28.

Fiscal deficit data

The fiscal deficit data for the period April 2017-February 2018 will be unveiled on Wednesday. April-January fiscal deficit data stood at 113.7 per cent of the target originally set for the fiscal year that ends in March. Finance Minister Arun Jaitley in his Budget speech for 2018-19 had revised the fiscal deficit target for the current year to 3.5 per cent of GDP from 3.2 per cent earlier. 

Bandhan Bank rallies

Shares of private sector lender Bandhan Bank Ltd rose as much as 33 per cent on their trading debut after its $691-million initial public offering. Read more

 

New FPI registrations

More than 1,200 new foreign investors were registered with SEBI in the first 10 months of the ongoing fiscal, primarily due to their continued interest in the Indian capital markets. Read more

 

IRFC bond issue

Indian Railway Finance Corporation Rs 5,000-crore bond issuance to LIC will have a government guarantee, says the Finance Ministry. Read more

 

Geojit is set to re-venture into commodities derivatives brokerage business from mid-April. Read more

 

Most equity funds fail to beat benchmarks

Most equity-focussed mutual funds, both in large-cap and mid-/small-cap space, have underperformed their respective benchmark S&P BSE indices, for the one-year ended December last year. Read more

 

Rupee hits 4-week high

The rupee strengthened by 9 paise to hit a four-week high of 64.78 against the US dollar as bond yields fell 25 basis points on government's lower-than-expected market borrowing plan. Read more

 

Crude oil up on W. Asian tensions

US West Texas Intermediate crude futures were at $65.71 a barrel at 0142 GMT, up 16 cents, or 0.2 per cent, from their previous close. Brent crude futures were at $70.25 per barrel, up 13 cents, or 0.2 per cent. Read more

 

 

Asian markets

Taking their cue from a surge on Wall Street, Japan's Nikkei climbed 1.7 per cent and China blue chips added 1.2 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan rose almost 1 per cent. Read more

 

The Sensex was trading higher by nearly 250 points on heavy buying in metal, healthcare, capital goods and banking stocks amid firm global cues.

Asian share markets rose sharply as reports of behind-the-scenes talks between the United States and China rekindled hopes a damaging trade war could be averted, in turn sapping the strength of the dollar and yen.

At 9.45 am, the 30-share BSE index Sensex was up 239.10 points or 0.72 per cent at 33,305.51 and the 50-share NSE index Nifty up 73.65 points or 0.73 per cent at 10,204.30.

 

BSE sectoral indices

 

 

Nifty chart

Nifty gainers

 

Nifty losers

NSE sectoral indices

 

US stocks spurt

Wall Street scored its best day in 2-1/2 years and the Dow Jones Industrial Average saw its third-biggest point gain ever on Monday, as trade war fears eased on reports the United States and China are willing to renegotiate tariffs and trade imbalances. Read more

 

 

Cosmo Films QIP issue

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The 30-share BSE index Sensex jumped 106.57 points to 33,172.98 and the 50-share NSE index Nifty rose 57.35 points to 10,188.

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:

₹1893 • HDFC Bank

 

₹1154 • Infosys

 

Click here to view the full table

 

 

Today's stock pick

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