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

MCX-Nickel

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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.

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

 

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

 

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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.

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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.”

Credit-deposit ratio climbs back to pre-demonetisation levels

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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

 

 

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Stay smart

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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

 

 

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

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

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.

 

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Ashok Leyland gets new order

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Ashoka Buildcon rallies

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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

 

 

Lemon Tree public issue

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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

 

 

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.

Rupee rises marginally

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

 

 

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

 

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

 

Mindtree: Coffee Day in deal with Siddhartha

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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.

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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

 

₹1162 • Infosys

 

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