Sensex climbs 304 points, Nifty gains 92 points; Maruti top gainer

On Monday, the Sensex gained 303.60 points to end at 34,445.75. The NSE Nifty rose 91.55 points to end at 10,582.60.  Maruti gained the most among the Sensex 30; it ended 3.41 per cent higher at Rs 9,001.80. It was followed by Tata Motors (+3.22%), IndusInd Bank (+2.94%), L&T (+2.83%), Axis Bank (+2.41%) and M&M (+2.27%).  Among BSE sectoral indices, realty index was the star-performer followed by auto, capital goods, banks, finance, and oil and gas. On the other hand, IT and TECk continued to witness selling pressure.

Top Nifty gainers on February 26

Top Nifty losers on February 26

In a statement, BSE said it has waived the transaction charges in equity segment on “S&P BSE Sensex 30 Stocks with effect from March 12, 2018. S&P BSE Sensex is the barometer of Indian economy“. Read more

Shantha Biotechnics, an affiliate of Sanofi Pasteur, has received approval from the World Health Organisation (WHO) for Shanchol, its oral cholera vaccine. The approval is for use at temperatures as high as 40°C for up to 14 days, immediately prior to administration, among others. Read more

State-owned Oriental Bank of Commerce (OBC) today said Simbhaoli Sugars is an old NPA account of the bank and the first case was registered with CBI in September 2015. “First complaint to CBI was filed on September 3, 2015 and amended complaint was filed on November 17, 2017. The case has now been registered as per procedures,” the bank said in a regulatory filing. Read more

Shares of Simbhaoli Sugars plunged 20 per cent today as the CBI registered a case against the company, its chairman Gurmit Singh Mann, deputy MD Gurpal Singh and others in connection with an alleged bank loan fraud of Rs 97.85 crore. The stock tanked 19.88 per cent to Rs 13.50 - its 52-week low - on the BSE. Read more

Shares rose for a second straight session on Monday, tracking Asian peers, after the US Federal Reserve forecast steady growth and a potential pause in rate hikes, while sentiment was positive ahead of economic data this week. The 30-share BSE index Sensex was up 326.29 points or 0.96 per cent at 34,468.44 and the 50-share NSE index Nifty was up 95.10 points or 0.91 per cent at 10,586.15.

Among BSE sectoral indices, realty index was the star-performer followed by auto, banks, finance, capital goods and oil and gas. On the other hand, IT and TECk continued to witness selling pressure.

India is due to post gross domestic product data for the October-December quarter on Wednesday. Fiscal deficit and manufacturing data are also expected in the truncated trading week.  Stock markets had been under selling pressure amid continued worries about the fallout from the PNB fraud.

“The market has bottomed out for the time being and will discount in general the NPAs (non-performing assets) of state-run banks,” said R.K. Gupta, managing director of Taurus Asset Management. “Corrections could happen, like with the Punjab National Bank saga, but overall the sentiment is positive. Investors will look to the RBI policy meet in April and the March-quarter corporate results.” Shares were trading above the 50-day exponential moving average for the first time in six sessions. -- Agencies

The Sensex 30 shares at 2.10 pm

HG Infra Engineering: Primary Offer - Execution on fast track

Investors with a reasonable risk appetite and at least a two to three-year horizon can subscribe to the IPO of HG Infra Engineering, a mid-sized player focused on the construction of roads, highways, flyovers and bridges.  Read more

Was India VIX futures destined to fail?

The return of market volatility is causing flutters across the globe, mainly in the US and China. Investors use the VIX to hedge their bullish stock bets, as the index typically rises when shares fall. Click here to read more

Nifty futures

The near-term outlook remains bullish as long as the contract trades above 10,550. The contract can test resistance at 10,600. Click here to read more

istock.com/ismagilov

OBC stock falls on alleged fraud

The lender’s stock fell as much as 12.7 per cent to Rs 92.60, lowest since June 16, 2016. Read more

The lender’s stock fell as much as 12.7 per cent to Rs 92.60, lowest since June 16, 2016.

Fund Call: HDFC Regular Savings Fund: Over 16 and going strong - Buy

Since its inception in 2002, the fund has delivered an annual return of about 8 per cent. Over most of its 16-year track record, it has given steady, category-beating, returns. Investors eyeing a time period of 2-3 years could consider investing in this fund. Read more

In the lacklustre market of 2013 and 2015, HDFC Regular Savings still managed to deliver a healthy 7-9 per cent return, when long-term gilt funds delivered 3-6 per cent return.

Strides Shasun will launch Ranitidine Tablets USP, 150 mg, used to treat peptic ulcers of the stomach and intestine, in the US market. Read more

The Sensex was trading higher by nearly 250 points on continued buying by DIIs amid firm Asian cues. The 30-share BSE index Sensex was up 235.83 points or 0.69 per cent at 34,377.98 and the 50-share NSE index Nifty up 72.35 points or 0.69 per cent at 10,563.40.

Among BSE sectoral indices, realty index was the star-performer followed by auto, capital goods and infrastructure. On the other hand, IT, TECk and healthcare indices succumbed to selling pressure.

Top five Sensex gainers were Tata Motors, IndusInd Bank, Adani Ports, L&T and Maruti, while the major losers were Sun Pharma, Dr Reddy's, Infosys, TCS and ITC.

Sterlite Technologies stock jumped as much as 10.36 per cent to Rs 378.85, its highest since February 2. Read more

The company has got a Rs 3,500-crore ($541.13 million) advance purchase order to design, build and manage the Indian Navy’s communications network.

Large-cap funds struggle to beat benchmarks

Mutual funds have witnessed copious inflows over the last one year. But investors who bet their money on large-cap funds might not be too happy, for many actively managed large-cap funds have fared worse than their benchmark indices. Click here to read more

JSW Steel to buy Italy-based Aferpi for ₹600 crore :  Having lost the race to acquire the stressed assets of two Bhushan group companies, JSW Steel is all set to buy out Italy’s second largest steel producer, Aferpi, formerly known as Lucchini SpA, in a deal worth ₹600 crore. Read more

JSW Steel has been eyeing Italy’s two largest steel producers, Ilva and Lucchini, which went belly up due to the sudden fall in steel demand after the 2008 economic recession in Europe.

The NSE IT index is the best sectoral performer with gains of 9 per cent and the only sectoral index to give positive returns till date in 2018 (as on February 22). Click here to read more

Performance of India Inc in December 2017 quarter has ended mostly on a satisfactory note with no major negative surprise according to various brokerages’ views. Click here to read more

Singapore Exchange is exploring a tie-up with NSE in GIFT City. File Photo

M-cap of top-10 Sensex cos : Eight out of 10-most valued Indian companies together added Rs 58,650.26 crore to their market valuation last week, with IT major TCS witnessing the maximum gain. Read more

From the top-10 list, only Hindustan Unilever and Maruti Suzuki India suffered erosion in their market capitalisation.

The rupee strengthened by 6 paise to 64.67 against the dollar on fresh selling of the American currency by exporters and banks amid strength in domestic equities. More on this

Dollar’s weakness against other currencies overseas and early gains in domestic equity markets supported the rupee.

Asian share markets were in a cautious mood as investors braced for an event-packed week headlined by US inflation data and the first House testimony by the new head of the Federal Reserve. Read more

Japan’s Nikkei led with an increase of 0.7 per cent (File photo)

The Sensex was trading higher by 167.79 points or 0.49 per cent at 34,309.94 and the Nifty up by 48.95 points or 0.47 per cent at 10,540 despite weak Asian cues.

Among BSE sectoral indices, realty index was the star-performer and was up 1.95 per cent, followed by auto 1.36 per cent, metal 1.16 per cent and capital goods 1.01 per cent. On the other hand, IT index fell 0.41 per cent, TECk 0.22 per cent and healthcare 0.1 per cent.

Top five Sensex gainers were Tata Motors, Adani Ports, Bajaj Auto, Maruti and IndusInd Bank, while the major losers were Dr Reddy's, Sun Pharma, TCS, Infosys and NTPC.

Weekly trading guide

Resistances to cap the upside in SBI

Immediate resistance is at ₹281, which is likely to be tested in the near term. If SBI manages to rise past ₹281, the up-move can extend towards the ₹292-₹295 resistance region. Read more

Near-term view is positive for ITC (₹269)

 If ITC manages to rise past ₹275 decisively, it will pave way for the next targets of ₹285 and ₹290 in the ensuing week. But a pull back from ₹272 or ₹275 can drag the stock lower to ₹265 or even ₹262 again. Read more

Bullish outlook is intact for Infosys (₹1,155.6)

The support is between ₹1,139 and ₹1,135. The outlook will remain bullish and a rally to ₹1,190 or even ₹1,200 is likely as long as the stock remains above ₹1,135.  Read more

Short-term view is bullish for RIL (₹934)

A rise to ₹960 is likely in the coming days. A strong break above ₹960 will increase the likelihood of the stock targeting ₹980 and ₹990 thereafter. Read more

Outlook is unclear for Tata Steel  (₹677.8)

Near-term view is unclear. Immediate support is at ₹670. As long as the stock sustains above this support, a rise to test the resistance at ₹693 is possible.  Read more

Index Outlook : Auto sales numbers for February are due this week. Investors will closely watch the new Federal Reserve Chair, Jay Powell’s testimony to the House Financial Services Committee to understand his outlook on both the US economy and inflation. Click here to read more

The Sensex was up 83.57 points or 0.24 per cent at 34,225.72 against the previous close of 34,142.15 and the Nifty up 35.5 points or 0.34 per cent at 10,526.55 againt Friday's close of 10,491.05 in pre-open trade.

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