Closing bell
The S&P BSE Sensex ended higher by nearly 580 points and the Nifty50 closed above the 10,300 level on brisk short-covering after the RBI's Monetary Policy Committee has lowered its inflation projections for the coming fiscal.
The
This is its biggest single day gain since March 12 when it had rallied 610.80 points. The gauge had lost 351.56 points in the previous session.
BSE sectoral indices
The Nifty , after shuttling between 10,331.80 and 10,227.45, finally settled 196.75 points, or 1.94 points higher at 10,325.15.
NSE sectoral indices
In its last policy, it had projected inflation in the first half of the fiscal to be around 5.1 per cent to 5.6 per cent. It has now projected inflation to be between 4.7 per cent and 5.1 per cent in the first half.
Stock markets reacted positively to RBI's policy of keeping the repo rate unchanged at 6.0 per cent as it was on expected lines.
The news about the deferring of the applicability of Indian Accounting Standards (Ind-AS) by another year to banks was cheered by stock markets. Another factor that drove the bank stocks was RBI's decision to ease the provisioning norms.
Domestic sentiment was also lifted as services business index rebounded from 6-month low and as global equities rebounded on easing of US-China trade tensions.
Markets also cheered the ‘normal” southwest monsoon forecast by private weather forecasting agency Skymet.
Reaction to RBI policy
Stock markets reacted positively to the RBI policy . Market experts welcomed the policy, while acknowledging that it was on expected lines. Read more
Silver futures
Silver prices dropped by Rs 92 to Rs 38,120 per kg at the futures trade as participants cut down their bets owing to weak global cues. Read more
Gold futures
Gold futures traded lower by Rs 200 at Rs 30,658 per 10 grams due to a weak global trend and profit-booking by speculators. Read more
RCom gets a breather
In a relief to Reliance Communications, the Supreme Court has vacated a stay on sale of its wireless assets to RJio. RCom is expected to move NCLAT within 7 days, seeking a nod for the sale of the tower business. Read more
Domestic equities continued their rally as the Reserve Bank of India's policy decision of keeping the repo rate unchanged at 6.0 per cent was on expected lines.
Domestic sentiment was lifted as services business index rebounded from 6-month low and as global equities rebounded on easing of US-China trade tensions.
The BSE index Sensex was trading higher by 506.96 points or 1.54 per cent at 33,526.03 and the NSE index up 154.80 points or 1.53 per cent at 10,283.
Top five Sensex gainers were Tata Motors, Tata Steel, SBI, ICICI Bank and L&T, while ITC was the only loser among 30-share Sensex constituents.
NSE sectoral indices
Metal, auto, bank and realty indices between 3.6 and 1.7 per cent. Bank stocks rallied on RBI's decision to ease the provisioning norms.
RBI keeps repo rate unchanged
The Monetary Policy Committee has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent.
The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.
Varun Beverages' greenfield unit
PepsiCo India’s bottling partner Varun Beverages plans to set up a greenfield production facility for select beverages in Punjab. Read more
SmallCap World Fund hikes stake in Infibeam
US-based SmallCap World Fund has hiked its stake in e-commerce firm Infibeam Incorporation by almost 2 per cent through an open market transaction for an estimated sum of Rs 168.94 crore. Read more
Domestic equities continued their rally in the afternoon trade as world equities recovered from a sell-off triggered by escalating US-China trade tensions.
Global sentiment was lifted as the United States expressed willingness to negotiate a resolution to the trade fight after the proposed US tariffs on $50 billion in Chinese goods prompted a quick response from Beijing that it would retaliate by targeting key American imports.
At 1.55 pm local time, the Sensex was trading higher by 459.36 points or 1.39 per cent at 33,478.43 and the Nifty up 153.95 points or 1.52 per cent at 10,282.35.
Among BSE sectoral indices, metal, realty, capital goods and banking remained investors' favourite.
Top five Sensex gainers were Tata Motors, Tata Steel, ICICI Bank, L&T and M&M, while Bharti Airtel was the only loser among 30-share Sensex constituents.
European stocks jumped on Thursday as investors bought back into risky assets in a global relief rally as concerns over trade war ebbed.
The STOXX 600 rose 1.5 per cent to a two-week high in early deals, buoyed by financials and industrials stocks, riding the wave of gains which had pushed Wall Street and Asian stocks up overnight.
Gold slips
Spot gold dipped 0.6 per cent to $1,324.96 per ounce by 0701 GMT, after touching a one-week high of $1,348.06 on Wednesday. US gold futures fell 0.9 per cent to $1,328.50 an ounce. Read more
Crystal Crop files IPO papers
Crystal Crop Protection has filed draft papers with SEBI to raise Rs 1,000 crore through an initial public offering (IPO). The IPO comprises fresh issue of shares worth up to Rs 545 crore and an offer for sale of up to Rs 455 crore, from the promoter and existing shareholders, including Everstone Capital. Read more
Nifty futures
After a strong rally, the contract is moving sideways in a narrow range in the band between 10,290 and 10,315. As long as the contract trades in this band, traders should tread with caution. Read more
Tata Motors hits 1-month high
Shares of Tata Motors hit 1-month high. The stock climbed as much as 3.6 per cent to Rs 368.3, its highest since March 5. Read more
Hindalco top gainer on NSE
The stock climbed as much as 6.2 per cent to Rs 213.25, and was the top percentage gainer on the NSE index. Read more
L&T Construction clinches orders
Larsen & Toubro’ construction arm has won orders worth Rs 3,376 crore across business segments. Read more
Ashoka Buildcon bags new contracts
Ashoka Buildcon has bagged Rs 760 crore worth projects from DVVNL for electrification work in Uttar Pradesh. Read more
The Sensex and Nifty were trading higher by nearly 1.5 per cent as world equities recovered from a sell-off triggered by escalating Sino-US trade tensions, with investors hoping a full-blown trade war between the world's two biggest economies can be averted.
Global sentiment was lifted as the United States expressed willingness to negotiate a resolution to the trade fight after the proposed US tariffs on $50 billion in Chinese goods prompted a quick response from Beijing that it would retaliate by targeting key American imports.
At 12.10 pm, the BSE index was trading higher by 447.41 points or 1.36 per cent at 33,466.48 and the NSE index up 147.05 points or 1.45 per cent at 10,275.45.
Metal stocks such as Hindalco and bank stocks such as ICICI Bank were among the top gainers.
Hindalco Industries Ltd rose as much as 4.9 per cent to Rs 209, and was the top percentage gainer in NSE index. The stock was on track to snap 4 sessions of losses, and posted biggest intraday gain since January 23.
“All sectors, which were impacted yesterday, including metals, are recovering today mainly because the fears of escalation in trade wars have receded, at least for the time-being,” said Deepak Jasani, head of retail research at HDFC Securities.
Banking stocks rose ahead of a monetary policy decision by the country's central bank later in the day, where it is expected to hold interest rates steady.
“The possibilities of a negative or positive surprise in the RBI (Reserve Bank of India) policy are limited. Outlook on growth, inflation and the way RBI perceives the developments abroad will be important to watch out for,” Jasani said.
The Nifty bank index gained as much as 1.6 per cent, with State Bank of India and ICICI Bank Ltd up more than 2 per cent each. - Reuters
Interest rate-sensitive stocks jump
Auto, banking and realty stocks jumped in the morning trade ahead of RBI's monetary policy announcement. Read more
Services PMI rebounds from 6-month low
From a six-month low of 47.8 in February, the Nikkei India Services Business Activity Index improved to 50.3 in March, signalling that business activity stabilised at the end of the quarter. Read more
How to spot window-dressing
For equity investors, risks from competition, business cycles and market swings are par for the course. But one risk that has been cropping up far too often in India is that of companies window-dressing their financials. Read more
CAMS, Karvy stake sale
The fate of General Atlantic’s 74 per cent stake in Karvy Computershare and the deal of Warburg Pincus to buy a stake in CAMS hinges on the recommendations of the SEBI-appointed committee set up to look into the road-map for key market infrastructure companies. Read more
SEBI whole-time member post
SEBI’s three executive directors, including PK Nagpal, Ananta Barua and S Ravindran will be interviewed for filling up the post of the fourth whole-time member. The interview will be held on April 5 in Delhi. Read more
Crude oil gains
Oil prices rose, holding onto a late-session rally the previous day, buoyed by the US government data showing a surprise drawdown in crude stockpiles. Read more
Domestic equties rallied as world equities recovered from a sell-off triggered by escalating Sino-US trade tensions, with investors hoping a full-blown trade war between the world's two biggest economies can be averted.
Brokers said buying by retail investors and fresh foreign fund inflows amid a firm trend in global markets drove the market sentiment. Investors were also awaiting the RBI's monetary policy announcement later in the day.
At 10.35 am, the Sensex was trading higher by 461.3 points or 1.4 per cent at 33,480.37 and the Nifty up 154.25 points or 1.52 per cent at 10,282.65.
Nifty50
BSE sectoral indices
Top 10 Nifty gainers
Nifty losers
Dollar remains steady
The dollar held steady against the yen after recovering against the safe-haven Japanese currency as stocks bounced back from a sell-off triggered by an escalating US-China trade spat. Read more
Rupee strengthens by 15 paise
The rupee strengthened by 15 paise to 65 against the dollar at the interbank forex market today on fresh selling of the greenback by exporters and banks ahead of the RBI’s monetary policy outcome later in the day. Read more
Nikkei rallies
Japanese stocks rose after Wall Street bounced back from a sell-off triggered by an escalating US-China trade spat. The Nikkei jumped 1.7 per cent to 21,680.83 in midmorning trade, trading above its 200-day moving average of 21,343.43. Read more
Asian markets
Asian shares bounced from two-month lows as world equities recovered from a sell-off triggered by escalating Sino–US trade tensions, with investors hoping a full-blown trade war between the world's two biggest economies can be averted. Read more
Infra stocks see investor interest revival
After a prolonged period of stepmotherly treatment towards infrastructure stocks for a plethora of reasons, sentiment towards them has been finally changing in a positive way. In other words, infrastructure stocks are again gaining investor interest after a long hiatus. Read more
MFs plan to add 32 lakh investors
Notwithstanding the turbulence in the market, the mutual fund industry plans to add 50 lakh new investors in the next one year by continuing with its ‘Mutual Funds Sahi Hain’ campaign. Read more
9.25 am
Wall Street closes higher
The Dow Jones Industrial Average rose 230.94 points, or 0.96 per cent, to close at 24,264.30, the S&P 500 gained 30.24 points, or 1.16 per cent, to 2,644.69 and the Nasdaq Composite added 100.83 points, or 1.45 per cent, to 7,042.11. Read more
Opening bell
Domestic equities rallied in the opening trade as world equities recovered from a sell-off triggered by escalating Sino-US trade tensions, with investors hoping a full-blown trade war between the world's two biggest economies can be averted.
The Sensex soared 393.60 points or 1.19 per cent to 33,412.67 and the Nifty jumped 100.05 points or 0.99 per cent to 10,228.45.
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:
₹1884 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
1875 | 1860 | 1895 | 1908 | Fresh short positions can be initiated with a fixed stop-loss if the stock fails to move beyond ₹1895 levels |
₹1124 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
1112 | 1100 | 1135 | 1145 | Make use of intra-day rallies to sell the stock of Infosys while retaining a stiff stop-loss at 1135 levels |
Click here to view the full table
Today's stock pick
Aditya Birla Fashion & Retail (₹150.8): Buy
The stock of Aditya Birla Fashion and Retail was resilient on Wednesday, when the benchmark indices fell more than one per cent. Investors with a short-term view can buy the stock at current levels. Read more
9.05 am
The S&P BE Sensex soared 273.99 points or 0.83 per cent to 33,293.06 against the previous close of 33,019.07 and the Nifty50 climbed 98.7 points or 0.97 per cent to 10,227.10 against 10,128.40.