Markets Live: Sensex ends higher by 139 points at 33,136; Fed policy outcome awaited

Bharti Airtel jumps 4.4%, NTPC 2.11%

4 pm

MCX-Nickel

The MCX-Nickel futures contract has been stuck in a narrow sideways range between ₹850 and ₹908 over the last few weeks.  Read more

 

3.50 pm

Closing bell

The Sensex closed higher by 139 points and the Nifty up by 31 points ahead of US Federal Reserve policy outcome later in the day.

Continuous capital inflows by foreign funds and covering-up of short positions by speculators influenced the trading sentiment.

After a strong opening, the BSE index hit a high of 33,354.93, before closing at 33,136.18, up 139.42 points, or 0.42 per cent. It had gained 73.64 points in the previous session.

The 50-share Nifty scaled a high of 10,227.30 intra-day but succumbed to profit-booking to finish at 10,155.25, still up 30.90 points, or 0.31 per cent.

 

Barring metal, healthcare and auto, all other BSE sectoral indices ended in the positive zone.

 

Top five Sensex gainers were Bharti Airtel, NTPC, L&T, HDFC Bank and HDFC, while the major losers were Tata Steel, Tata Motors, Adani Ports, Hero MotoCorp and PowerGrid.

 

Nifty gainers, losers

Meanwhile, foreign portfolio investors bought shares worth Rs 344.16 crore on a net basis, while domestic institutional investors also purchased equities to the tune of Rs 731.17 crore yesterday.

3.40 pm

Bullion prices

Gold prices softened by Rs 40 to Rs 31,350 per 10 grams at the bullion market.  Silver also drifted lower by Rs 150 to Rs 39,000 per kg. Read more

 

3.30 pm

European markets

European shares edged lower in early dealing on Wednesday, with investors cautiously awaiting the conclusion of a US Federal Reserve meeting for signals on the pace of expected interest rate rises. Read more

The pan-European STOXX 600 index was down 0.1 per cent by 0827 GMT, as more cyclical sectors such as financials, materials and industrials retreated.   -  Reuters

 

3.20 pm

Sadbhav Infra bags 2 new projects

Sadbhav Infrastructure Project has bagged two road projects worth Rs 1,567.92 crore from NHAI in Gujarat and Andhra Pradesh. Read more

The three projects for which financial closure has been achieved include four-laning of Ausa-Chakur, Chakur-Loha and Loha-Waranga sections of NH-361. (file photo)

 

 

3.10 pm

Pre-close trade

The Sensex was trading up by nearly 130 points, with realty, power, capital goods and TECk stocks leading the gains. However, metal, healthcare and auto stocks succumbed to selling pressure.

 

 

 

European shares edged lower in early dealing on Wednesday, with investors cautiously awaiting the conclusion of a US Federal Reserve meeting for signals on the pace of expected interest rate rises.

The pan-European STOXX 600 index was down 0.1 per cent by 0827 GMT, as more cyclical sectors such as financials, materials and industrials retreated.

3.05 pm

HDFC Balanced: Maintains its balance in volatile times

Volatility is the name of the game in the stock markets these days. If you have a conservative mindset, consider investing in HDFC Balanced, an equity-oriented balanced fund. Read more

 

2.55 pm

LS adjourned

The Lok Sabha was adjourned for the day minutes after the lower house re-assembled at noon. Read more

 

2.45 pm

MCX Zinc is range-bound with a bearish bias

The strong downtrend in zinc futures contract on the Multi Commodity Exchange that had been in place since late February has halted. The contract however has been stuck in a narrow range between ₹207 and ₹215 a kg for more than a week. Read more

PO04_Tech_YSP_H+PO04_zinc.jpg.jpg

 

2.30 pm

RCom bondholders approve asset monetisation

Reliance Communications has received approval from the holders of its $300-million bonds to sell its assets to Reliance Jio Infocomm. Read more

 

2.15 pm

Jaiprakash Associates asked to deposit Rs 200 cr

The Supreme Court has asked the embattled realty firm Jaiprakash Associates to deposit Rs 200 crore in two instalments by May 10. Read more

jaypee

 

2 pm

The Sensex and Nifty continued to trade higher by nearly 0.6 per cent on heavy buying in realty, capital goods, power and FMCG stocks amid firm global cues.

Investors awaited the outcome of the US Federal Reserve policy meet later in the day. Investors expect the Fed to announce a quarter-point hike, but are less sure if it will signal three or four for the entire year.

The Sensex touched intraday high of 33,354.93 and the Nifty hit 10,224.60. At 1.55 pm, the Sensex was up 185.94 points or 0.56 per cent at 33,182.70 and the Nifty up 50.35 points or 0.5 per cent at 10,174.70.

Nifty gainers

BSE sectoral indices

NSE sectoral indices

“In the last few days, the market has been in a correction phase. There have been a lot of negative factors like chances of a rate hike, domestic political instability along with rupee depreciation. I think the market has priced in all these negative factors,” said Prateek Jain, Director at Hem Securities.

“We should see a decent upside from here.”

1.50 pm

Credit-deposit ratio climbs back to pre-demonetisation levels

Weak credit growth and a significant uptick in deposits post demonetisation that had led credit-deposit ratio in the banking system slip to 70-73 per cent levels in the ensuing quarters, has inched up in the December 2017 quarter. Read more

 

1.30 pm

Nifty futures

Traders can go short on declines below 10,175 levels with a stop-loss at 10,185. Key resistances are at 10,200 and 10,230. Read more

The near-term outlook for the contract remains positive as long as it trades above the key immediate support level of 10,250.

 

 

1.15 pm

Go global with your money

What’s the investment scene like, on the domestic front? Not too inviting at the moment. For one, Indian markets are headed for a phase of extended volatility, going by their expensive valuations.  Read more

 

 

 

12.55 pm

Stay smart

It is high time product regulators such as the RBI, SEBI and IRDA cracked the whip and plugged the loopholes. They should specify the when and how of calculating and advertising returns, yields and costs, ensure that product providers and agents toe the line and withdraw misleading claims. Read more

 

12.40 pm

Gold rises as dollar remains weak

Spot gold rose 0.2 per cent to $1,313.96 per ounce at 0336 GMT. Prices fell to a nearly three-week low in the previous session of $1,306.91. US gold futures for April delivery fell 0.1 per cent to $1,313.80 per ounce. Read more

Spot gold rose 0.2 per cent to $1,313.96 per ounce at 0336 GMT.

 

 

12.30 pm

Silver futures

Silver prices rose Rs 81 to Rs 38,297 per kg at the futures trade as speculators built up positions owing to a firm global trend. Read more

12.20 pm

Gold futures

Gold prices rose 0.04 per cent to Rs 30,274 per 10 grams at the futures trade as speculators built up fresh positions, tracking a firm trend overseas. Read more

12.10 pm

Domestic equities rose 1 per cent on Wednesday, with financial stocks accounting for nearly half the gains, while investors awaited the outcome of the US Federal Reserve policy meet later in the day.

Investors expect the Fed to announce a quarter-point hike, but are less sure if it will signal three or four for the entire year.

The Sensex touched intraday high of 33,354.93 and the Nifty hit 10,224.60. At 12.05 pm, the BSE index was trading up by 204.05 points or 0.62 per cent at 33,200.81 and the NSE index up 66.3 points or 0.65 per cent at 10,190.65.

 

 

The NSE index was trading above the 200-day simple moving average of 10,169.29.

 

“In the last few days, the market has been in a correction phase. There have been a lot of negative factors like chances of a rate hike, domestic political instability along with rupee depreciation. I think the market has priced in all these negative factors,” said Prateek Jain, Director at Hem Securities.

“We should see a decent upside from here.”

Financials led the gains, with the Nifty Finance index up 1.3 per cent. State-run lenders also advanced, with the Nifty PSU bank index rising as much as 2.2 per cent.

 

Housing Development Finance Corp rose 1.6 per cent, while State Bank of India gained 1.8 per cent.

Among other gainers, construction and engineering firm Ashoka Buildcon Ltd posted its biggest intraday rise since July 2015 after winning two road projects.

Meanwhile, foreign portfolio investors bought shares worth Rs 344.16 crore on a net basis, while domestic institutional investors also bought equities to the tune of Rs 731.17 crore yesterday, provisional data showed.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4 per cent.

 

11.55 am

Alembic Pharma gets 3 observations

Alembic Pharmaceuticals has got three observations from the USFDA for its formulation facility at Panelav, Gujarat. Read more

 

 

11.40 am

How agents mis-sell products

Instances of misleading claims by unscrupulous agents, and why you should call their bluff. Click here to read more

 

 

11.25 am

The number game: Buyer beware

Many cases of mis-selling usually spring from unscrupulous agents and distributors. But product providers also sometimes tread the grey zone between right and wrong. Here’s a look at some cases where you may not get what the brochure shows, and how you can stay on guard. Read more

 

11.15 am

Ashok Leyland gets new order

Ashok Leyland has won an order worth Rs 321 crore from The Institute of Road Transport in Tamil Nadu for the supply of 2,100 buses. Read more

 

 

11.05 am

Ashoka Buildcon rallies

The stock rallied as much as 13.3 per cent to Rs 263.20, its highest since February 15 as the construction and engineering firm has bagged two new road projects. Read more

 

10.55 am

China, Hong Kong stocks rise

At 04:03 GMT, the Shanghai Composite index was up 0.48 per cent at 3,306.28, while China's blue-chip CSI300 index was up 0.64 per cent at 4,103.95. Chinese H-shares listed in Hong Kong rose 1.31 per cent to 12,762.91, while the Hang Seng Index was up 1.21 per cent at 31,931.05. Read more

At 04:03 GMT, the Shanghai Composite index was up 0.48 per cent at 3,306.28, while China's blue-chip CSI300 index was up 0.64 per cent at 4,103.95. Chinese H-shares listed in Hong Kong rose 1.31 per cent to 12,762.91, while the Hang Seng Index was up 1.21 per cent at 31,931.05

 

 

10.45 am

Lemon Tree public issue

Lemon Tree Hotels plans to raise funds through an IPO in the form of an offer-for-sale of up to 18.5 crore equity shares in the price band of ₹54 to ₹56. The issue will open on March 26 and close on March 28. Read more

Patanjali Keswani (right), CMD, Lemon Tree Hotels, along with Kapil Sharma, CFO, at a press conference to announce the company’s IPO in Mumbai on Monday   -  PAUL NORONHA

 

 

10.30 am

Markets likely to see steady inflows

The Indian capital market is likely to witness steady inflows in the medium to long term following formalisation of the economy post demonetisation, says Ajay Saraf, Executive Director, ICICI Securities. Read more

Ajay Saraf, Executive Director, ICICI Securities

 

 

10.20 am

The Sensex was trading higher by over 300 points on firm global cues ahead of Federal Reserve policy outcome later in the day. Short-covering by speculators too supported the rally. At 10.15 a.m., the Sensex was up 315.20 points or 0.96 per cent at 33,311.96 and the Nifty up 92.5 points or 0.91 per cent at 10,216.85.

Nifty gainers

 

 

All BSE sectoral indices were trading in the green with realty, PSU, banking and infrastructure gaining between 1.1 and 1.7 per cent.

Traders said buying activity picked up on positive cues from other Asian bourses as investors look towards the conclusion of US Federal Reserve policy meet due tonight.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 344.16 crore, while domestic institutional investors (DIIs) made purchases worth Rs 731.17 crore yesterday, provisional data showed.

Meanwhile, Hong Kong’s Hang Seng rose 1.25 per cent, while Shanghai Composite Index gained 0.40 per cent in early trade today. Financial markets in Japan were closed for a public holiday today. The US Dow Jones Industrial Average ended 0.47 per cent higher in yesterday’s trade.

10.10 am

Rupee rises marginally

The rupee edged marginally higher by 1 paisa to 65.19 against the US dollar in early trade. Read more

 

 

10.05 am

Asian markets

MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed after four straight days of losses. E-Mini futures for the S&P 500 were slightly softer. Japan's Nikkei was closed for a local holiday while Australian shares were up 0.4 per cent. Read more

A relief rally swept across Asian share markets on Monday. File Photo   -  Reuters

 

9.55 am

HAL IPO scrapes through

The ₹4,200-crore initial public offering of Hindustan Aeronautics just managed to pull through, thanks to institutional investors. Read more

hal

 

9.45 am

Mindtree: Coffee Day in deal with Siddhartha

Coffee Day Enterprises has entered into an agreement with VG Siddhartha, who owns 3.34 per cent stake or 54.69 lakh shares in Mindtree. Read more

 

9.35 am

The benchmark BSE Sensex was trading higher by 214.37 points or 0.65 per cent at 33,211.13 and the Nifty50 up 64.8 points or 0.61 per cent at 10,186.45.

9.30 am

Buy Alembic today to participate in buyback

Alembic’s board has approved the buyback of 1.02 crore shares or 3.84 per cent of its fully paid-up equity capital. Investors should buy the company’s shares by Wednesday to be eligible to participate in the buyback. Read more

 

9.20 am

La Opala RG to turn ex-bonus

Investors need to own the company’s shares by Wednesday to get the bonus shares, as March 23 is the record date.  Read more

9.15 am

Wall Street

US stocks advanced modestly on Tuesday as higher oil prices lifted the energy sector, but another slump in Facebook Inc shares curbed gains. Read more

Facebook Inc shares ended down 2.6 per cent, well above earlier lows.   -  Reuters

 

9.10 am

Day Trading Guide for March 21

 

Supports and resistances for Nifty 50 futures and seven key stocks are given in the table that can help in intra-day trading.

₹1839 • HDFC Bank

S1

S2

R1

R2

COMMENT

1830

1820

1850

1860

Fresh long positions are recommended with a fixed stop-loss only if the stock rallies above ₹1850 levels

 

₹1162 • Infosys

S1

S2

R1

R2

COMMENT

1150

1140

1170

1180

As long as the stock trades above ₹1150, the near-term view remains positive for the stock. Buy in dips

 

Click here to view more

 

 

9.05 am

Today's stock pick

Techno Electric & Engineering Company (₹377.8)

 Investors with a short-term perspective can buy the stock of Techno Electric & Engineering Company at current levels. Read more

 

Published on March 21, 2018