Closing bell
The benchmark Sensex ended at a fresh six-week high of 34,192.65 on better-than-expected macro data and optimism ahead of the earnings season. This was the seventh straight session of gains for the index, its longest winning streak since November 24 last year.
The 30-share BSE index Sensex ended higher by 91.52 points or 0.27 per cent at 34,192.65 after hitting a high of 34,313.14 and a low of 34,103.53.
This was its highest closing since February 27 when it had settled at 34,346.39 points. It had gained 1,082.06 points in the past six sessions.
BSE sectoral indices
The NSE index Nifty closed up 21.95 points or 0.21 per cent at 10,480.60 after hovering between 10,519.90 and 10,451.45.
Both the key indices finished with gains for the third week in a row. The BSE Sensex recorded a significant rise of 565.68 points, or 1.68 per cent, while the NSE Nifty advanced 149 points, or 1.44 per cent, this week.
Top 10 Nifty gainers
Top 10 Nifty losers
Investor sentiment was upbeat on positive macro data announced after trading hours yesterday and optimism ahead of earnings by Infosys coupled with firm global cues.
Software services exporter Infosys Ltd ended 0.76 per cent higher ahead of its March-quarter results. Reliance Industries and Kotak Mahindra Bank ended up over 1 per cent.
Global markets
The MSCI All-Country World Index, which tracks shares in 47 countries was up nearly 0.1 per cent on the day. It has gained nearly 2 per cent this week, its best weekly showing since March. Read more
Bullion prices
Gold lost Rs 350 to Rs 31,800 per ten gram due to a sluggish overseas trend amid fall in local demand. Silver too fell Rs 250 to Rs 39,750 per kg due to reduced offtake by industrial units and coin makers. Read more
Mumbai Metro project
RInfra’s joint venture with Italy’s Astaldi SPA has won a contract worth Rs 1,584 crore for a Mumbai Metro line. Read more
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Pre-close trade
The Sensex was trading up 78.64 points or 0.23 per cent at 34,179.77 and the Nifty up 16 points or 0.15 per cent at 10,474.65. Trading remained highly volatile.
Metal, IT, TECk and healthcare stocks remained investors' favourite, while capital goods, FMCG, oil & gas and PSU succumbed to selling pressure. Top five Sensex gainers were Adani Ports, Wipro, Kotak Bank, Dr Reddy's and Coal India, while the major losers were Axis Bank, SBI, Hero MotoCorp, Bharti Airtel and Maruti.
How PPF works for NRIs
Investments made into this instrument are eligible for tax deduction of up to ₹1.5 lakh under Section 80C of the Income Tax Act. The interest earned from investing in PPF is also tax-free. Currently, PPF investments earn an interest rate of 7.6 per cent. Read more
Extended pause likely for the repo rate
There is a low likelihood of a change in the repo rate or stance of monetary policy until there is clarity on the impact of the MSPs, monsoon and fiscal risks on the inflation trajectory, which are unlikely to emerge in the next few months. Read more
The Sensex and Nifty erased their gains and were trading flat due to heavy selling in capital goods, FMCG, PSU and oil & gas stocks amid firm European cues.
The BSE index was trading up 4.42 points or 0.01 per cent at 34,105.55 and the NSE index up 2.45 points or 0.02 per cent at 10,461.10.
Among BSE sectoral indices, capital goods fell the most followed by FMCG, PSU and banking, while IT and TECk stocks remained investors' favourite ahead of earnings season that begins with Infosys announcing its results later today.
Top five Sensex gainers were Adani Ports, Wipro, TCS, Kotak Bank and Infosys, while the major losers were Axis Bank, SBI, L&T, YES Bank and Hero MotoCorp.
Why volatility is back to haunt bond markets?
The party in bond markets that began with the Centre lowering the borrowing programme for the first half of 2018–19 and the RBI topping it up by a sanguine inflation outlook, is fizzling out. Read more
RIL buying stake in Embibe
Reliance Industries has entered into agreements to acquire close to 73 per cent stake in Embibe and will invest $180 million into the company over the next three years. Read more
Post-noon trade
Domestic shares rose for a seventh straight session on Friday, in what could be their longest winning streak since November 2017, on the back of gains in index heavyweights such as Reliance Industries Ltd and ICICI Bank Ltd.
At 1.10 pm, the BSE index was up 91.50 points or 0.27 per cent at 34,192.63 and the NSE index up 16.35 points or 0.16 per cent at 10,475.
Reliance Industries Ltd rose nearly 1 per cent and hit its highest since March 5. Infosys extended gains into a fourth session and hit a three-week high, while Adani Ports and Special Economic Zone Ltd jumped nearly 4 per cent and was the top percentage gainer on both indexes.
Top 10 Nifty gainers
Top 10 Nifty losers
The Nifty Bank index climbed for a second straight session, with both ICICI Bank Ltd and Kotak Mahindra Bank Ltd trading more than 1 per cent higher.
Metal stocks climbed with the Nifty metal index up for a third session in four. Hindalco Industries Ltd and Vedanta Ltd rose 2 per cent and 1.5 per cent, respectively.
Sentiment was also upbeat after retail inflation eased to a five-month low in March, but remained above the central bank's medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June.
“Ever since RBI (Reserve Bank of India) cuts its inflation trajectory, the equities have done well. And if this trend of falling inflation and reduction in bond yields continue, good signs await the equity markets,” said Vinod Nair, head of research at Geojit Financial Services.
Investors now await January-March corporate results for future direction. Software services exporter Infosys Ltd will kick-start the March-quarter results season later in the day.
“Excluding banks, expectations for March-quarter results are positive,” Nair added. - Reuters
Buy gold if it touches $1,335/ounce
In the coming week, we expect $1,338-40 levels to hold for a push higher towards $1,365 opening the way for to $1,374 levels or even higher to $1,400 subsequently. Read more
MCX silver
Silver prices were trading marginally higher by 0.08 per cent at Rs 39,281 per kg at the futures trade. Read more
MCX gold
Gold prices edged up by 0.10 per cent to Rs 31,032 per 10 grams at the futures trade as speculators built up fresh positions tracking a firm trend overseas. Read more
Infosys gains over 1%
After opening at Rs 1,174.50 against the previous close of Rs 1,162.25, the stock further gained 1.35 per cent to Rs 1,177.95 on the BSE. Read more
Telecom industry revenues to dip
Deutsche Bank says telecom industry revenues will decline by 9 per cent to $21.6 billion in FY19 as incumbents continue to calibrate offers to match the plans of Reliance Jio. Read more
Nifty sectoral indices
Top 10 Nifty gainers
Top Nifty losers
Pre-noon trade
The Sensex and Nifty were trading higher by nearly 0.5 per cent on robust macro data and positive global cues.
Factory output growth recorded a four-month high of 7.1 per cent in February, aided by strong show in manufacturing and capital goods sectors. On the other hand, retail inflation was at a five-month low at 4.28 per cent in March on the back of lower food inflation at 2.81 per cent.
At 11.40 am, the BSE index Sensex was up 175.29 points at 34,276.42 and the NSE index up 53.35 points at 10,512. Barring capital goods and FMCG, all other BSE sectoral indices were trading in the green.
Top five Sensex gainers were Adani Ports, Kotak Bank, Dr Reddy's, Bajaj Auto and ICICI Bank, while the major losers were L&T, HUL, SBI, ITC and Asian Paints.
MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent while Japan's Nikkei gained 0.8 per cent. MSCI's broadest gauge of the world's stock markets also edged up 0.1 per cent after hitting a three-week high on Thursday.
Commodity Outlook
Key resistance for the contract is at ₹158. Only a strong break above this level will ease the downside pressure and take the contract higher to ₹160 or even higher levels. Read more
Crude oil
Oil prices edged lower but are set for their biggest weekly gains since last July following a jump to a more than three-year high earlier in the week on tensions over Syria and shrinking global oil inventories. Read more
Rupee slips
The rupee shed 3 paise to 65.29 against the US dollar despite better-than-expected inflation numbers released yesterday. Read more
Asian markets
Global stocks recovered to three-week highs as anticipated strong earnings season took centre stage after US President Donald Trump backtracked on his suggestion of an imminent missile attack on Syria. Read more
What to watch
Shares of L&T, Thermax, LMW, BHEL and BEML will remain in focus as the manufacturing and capital goods sectors posted robust growth in February. REad more
L&T
BHEL
BEML
What to watch
Besides Infosys, Bhansali Engineering Polymers and Rane Brake Lining will consider and approve their financial results for the period ended March 31, 2018, and recommend dividend, if any. Read more
Domestic shares continued their rising streak for the seventh straight session on the back of positive macroeconomic data, ahead of Infosys earnings later in the day.
The 30-share BSE index Sensex was trading higher by 157.65 points or 0.46 per cent at 34,258.78 and the 50-share NSE index Nifty up 41.3 points or 0.39 per cent at 10,499.95.
Brokers said buying activity picked up on positive macroeconomic data as industrial production grew by a healthy 7.1 per cent in February. According to them, fall in retail inflation to a five-month low, too had a positive impact on the market.
Top five Sensex gainers were Adani Ports, Dr Reddy's, Kotak Bank, Coal India and ICICI Bank, while the major losers were HUL, L&T, and State Bank of India.
Infosys results today
Infosys will declare its quarterly and full year ended March 2018 results today. Besides the numbers, investors and marketmen will closely monitor the FY19 outlook the infotech major will announce. Read more
High-debt cos' scrips suffer in Q1
The first quarter of calendar year 2018 has not been too good for Indian investors, with benchmark indices reversing sharply in February. While the large-cap indices escaped with flat YTD returns, the cut in CNX Mid- and Small-cap indices was deeper at 7.4 and 10.2 per cent, respectively. Read more
Algo trading app
Tavaga, a robo advisory firm, is looking to disrupt the wealth advisory industry by tapping into the category of retail investors who do not have access to professional wealth and fund managers. Read more
'Self-trade' manipulation issue
After announcing that it will penalise nearly 15,000 entities for non-genuine derivative trading, SEBI has decided to turn the heat on thousands of cases of ‘self-trade’. Read more
Equity MF inflows down
Equity mutual funds witnessed a net inflow of ₹6,657 crore in March, a plunge of 59 per cent from the preceding month, due to volatile stock markets along with profit-booking by investors to avoid payment of LTCG tax. Read more
9.20 am
Wall Street
US stocks climbed on Thursday as investors anticipated a strong earnings season and as US President Donald Trump's suggestion that a military strike on Syria may not be imminent ratcheted down geopolitical worries. Read more
9.15 am
The Sensex gained 66.4 points at 34,167.53 against the previous close of 34,101.13 and the Nifty climbed 25.45 points to 10,487.10 against 10,458.65.
9.10 am
Day Trading Guide for April 13
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹1926 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
1915 | 1905 | 1935 | 1950 | Consider initiating fresh long positions with a fixed stop-loss only if the stock advances above ₹1935 levels |
₹1162 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
1150 | 1140 | 1172 | 1185 | The near-term view stays bullish as long as the stock trades above ₹1150 levels. Buy in declines |
Click here to view the full table
9.05 am
Today's stock pick
India Nippon Electricals (₹519.6): BUY
Investors can consider buying the stock of India Nippon Electricals, a small-cap auto ancillary company. On Thursday, the stock gained 4.4 per cent with above average volume, breaching a key resistance at ₹500 (adjusted). Read more