Markets end lower on profit booking

Markets snapped early winning streak  and ended with losses following sudden bout of selling from investors in late session following forecast of below-normal monsoon this year.

The Sensex opened higher by 111 points and touched an intraday high of 39,270.05. Later, the iindex erased gains and touched a low of 38,826.56.

The BSE benchmark index ended at 38,877.12, down 179.53 points or 0.46% from its previous close of 39,056.65.

The Nifty 50 index too lost 69.25 points or 0.59% and ended at 11,643.95.

Key sectoral indices such as Oil & Gas, Auto, Healthcare, Banking, Energy, Infrastructure and Oil & Gas slipped in the red on broad-based selling pressure.

The market breadth, indicating the overall health of the market, was weak.

On the BSE, out of 2,760 scrips traded, 1,002 shares advanced were lesser as against 1,599 shares that declined today.

Sensex Stocks

BSE Sensex stocks

ADVANCES/DECLINES ON NSE

BSE SENSEX STOCKS

Heavyweight stocks

BSE CHART

Broker's call

ICICI Securities

Open Recommendations

Open Recommendations from ICICI Securities

Broker's Call

Anand Rathi

SAIL CMP: Rs 57.70

Target Price Rs 64/Rs 70

Timeframe 3 months

The stock has provided a breakout from the inverse head and shoulders pattern which is a bullish reversal pattern. The daily as well as weekly momentum indicator MACD is well in buy mode. The initial target comes to 64 which is its 200 DMA as well as conservative target of the inverse head and shoulders pattern whereas 70 is the aggressive target of the pattern. The support on the lower side is pegged at 53.

BSE SECTORAL INDICES

Nifty Next50 Losers

Nifty Next50 Losers

Nifty Next50 Gainers

Nifty Next50 Gainers (April 3)

TOP NSE LOSERS

TOP NSE LOSERS (APRIL 3)

TOP NSE GAINERS

Nifty 50 April Futures (11,815): Buy in declines with a fixed stop-loss at 11,780

The domestic equity indices began the session in the green taking cues from the positive Asian markets. The Nikkei 225 index advanced 1 per cent to 21,713 and Hang Seng index rose 1.2 per cent to 29,968 levels in today's session. Both the Sensex and the Nifty began the session in the positive territory and continued to trend up.

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Sensex,  Nifty trade firm

The Sensex and Nifty held on to their morning gains in the afternoon session on Wednesday.

The Sensex was up 138 points or 0.35 per cent higher at 39,194, while the Nifty was at 11,739, up 26 points or 0.23 per cent firmer.

The top gainers on the Sensex were Tata Steel, Maruti, HCL Tech, Indus Ind Bank and NTPC, while the laggards were L&T, Bharti Airtel, Sun Pharma, Infosys and SBI.

Indiabulls Housing Finance hits over 5-month high on NSE

Indiabulls Housing Finance shares rose as much as 6.34 per cent to Rs 892.65, their highest since October 17, 2018, on the NSE.

The stock has posted 5 gains out of 7 sessions, and is the top percentage gainer on the NSE index.

About 10.9 million shares changed hands, compared with the 30-day average of around 8.8 million shares.

Nine of the 13 analysts covering the stock have “buy” or higher ratings, three “hold” and one “sell” or lower; the median PT is Rs 932.5, according to Thomson Reuters data.

As of Tuesday's close, the stock is down 1.7 per cent so far this year.

Sensex, Nifty steady at mid-session

The Sensex, which extended its recent firm trend into Wednesday's session, continued to hold firm in the mid-session. The 30-share benchmark was trading at 39,182, representing a gain of 126 points or 0.32 per cent.

The broader, NSE Nifty was quoting at 11,738, up 25 points or 0.22 per cent higher.

According to agency reports, the domestic markets took a cue from the Asian markets, which jumped to seven-month highs as trade talks between the US and China made progress and on upbeat economic data from the US and China.

Among the top gainers on the 50-share Nifty were Indiabulls Housing Finance, Tata Steel, HCL Tech, IndusInd Bank and JSW Steel, while the laggards were BPCL, GAIL, L&T, Eicher Motors and IOC.

Among the BSE sectoral indices, the top gainers were realty, metals and finance.

ADB cuts India’s growth rate to 7.2% in 2019-20

Asian Development Bank (ADB) on Wednesday lowered India’s growth by 40 basis points to 7.2 per cent in fiscal year 2019-20. Still. It will be fastest growing economy in the worth. The growth rate in FY 2020-21 likely to be 7.3 per cent.  Click here to read the report on ADB cuts India's growth rate to 7.2% .

Asian shares scale new 7-month highs; tight supply lifts oil

Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up less than 0.1 per cent. File Photo

Asian shares rose to fresh seven-month highs on Wednesday as investors cheered signs of progress in US-China trade talks and brisk economic data, while oil approached the key $70 per barrel mark.

Shares in Europe were seen following Asia's lead, with London's FTSE futures adding 0.1 per cent and Frankfurt's DAX futures jumping 0.7 per cent. Click here to read in full the Asian markets report .

Amara Raja Batteries, Johnson Controls terminate agreements

Amara Raja Batteries has terminated shareholders agreement between Galla Family and Johnson Controls (JC) and consequent termination of other agreements entered by the Company with JC. Click here to read more on the termination of agreements between Amara Raja Batteries, Johnson Controls .

Rupee rises 9 paise to 68.65 in early trade

The rupee appreciated by 9 paise to 68.65 against the US dollar in opening trade on Wednesday, driven by weakening of the greenback in overseas markets and sustained foreign inflows. Click here to read the rupee report in full.

Sensex, Nifty hold steady

The Sensex and Nifty traded steady in the morning session on Wednesday. The Sensex was up 149 points or 0.39 per cent at 39,207, while the Nifty was at 11,738, up 25 points or 0.22 per cent higher.

The top gainers on the Sensex were HCL Tech, Tata Steel, HDFC, Maruti and IndusInd Bank, while Larsen & Toubro, Infosys, Axis Bank, Bharti Airtel and Hindustan Unilever were among the laggards.

HCL Tech and Tata Steel both gained more than 2 per cent in the session.

Among the BSE sectoral indices, the top performer was realty, which held gains of 1.59 per cent, followed by metals, finance, basic materials, and power.

An agency report attributed the rise in Sensex to gains in banking and auto stocks, besides positive cues from other Asian markets.

The BSE gauge Sensex traded above the psychological 39,000-level in early deals up 176.95 points, or 0.45 per cent, at 39,233.60.

On Tuesday, the 30-share BSE index settled at 39,056.65, 184.78 points or 0.48 per cent higher, marking its highest ever closing.

According to experts, inflow of foreign liquidity in expectation of rate cut from the Reserve Bank of India (RBI) and revival in earnings will provide some stability in the market.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 543.36 crore Tuesday, while domestic institutional investors (DIIs) sold equities to the tune of Rs 437.70 crore, provisional data available with stock exchanges showed.

The Monetary Policy Committee (MPC) is holding a two-day meeting between April 2 and April 4 for the first bi-monthly policy statement for 2019-20. The RBI will unveil its first bi-monthly monetary policy decision of this new fiscal on Thursday.

Meanwhile, the rupee appreciated by 9 paise to trade at 68.65 to the US dollar in early trade on Wednesday. Brent crude futures, the global oil benchmark, rose 0.52 per cent to trade at USD 69.73 per barrel. Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were trading positive. (with inputs from PTI)

Gold steadies as dip in dollar offsets rising equities

Gold on track for fifth session of gains.

Gold prices were steady on Wednesday as a weaker dollar offset pressure on the metal, which recovered from a four-week low in the previous session, while a rally in equities to multi-month highs capped bullion's safe-haven demand. Click here to read in full the gold markets report.

Tata Motors near 6-month high

Tata Motors Ltd's shares gained as much as 2.96 per cent to Rs 208.95, their highest since October 8, 2018.

The stock has broken above a resistance at Rs 196.8, the 14.6 per cent Fibonacci retracement level of the downtrend from its September 7, 2016 high to its February 8, 2019 low. Click here to read in full the Tata Motors share price movement report .

Tata Steel shares rise; S&P revises outlook to positive

NCLAT directed both JSW Steel and Tata Steel to file written submission by next Wednesday.

Shares of Tata Steel rose as much as 2.7 per cent to Rs 544.80, its highest since December 3. Ratings agency S&P Global has revised the outlook on the country’s biggest steelmaker to 'positive' from 'stable'. Click here to read in full the report on Tata Steel share price movement .

Jet Airways shares fall as it grounds more planes

Jet Airways shares fell as much as 4 per cent in early trade on Wednesday after it said the previous day it has grounded 15 more planes due to non-payment of dues to its lessors. Click here to read in full the report on Jet Airways share price movement .

Asian shares hit 7-month highs on progress in US-China trade talks

Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up less than 0.1 per cent. File Photo

Asian shares rose to seven-month highs on Wednesday as investors lapped up signs of progress in US-China trade talks and brisk economic data, while oil approached the key $70 per barrel mark. Click here to read in full the Asian share markets report .

Company news: Kirloskar Oil Engines

The Board of Directors of  Kirloskar Oil Engines  at its meeting held on April 2, had given its consent to invest in the equity shares of Kirloskar Capital, a wholly-owned subsidiary of the company, for up to ₹499.50 crore. It may be recalled that Kirloskar Capital last year received RBI licence to start a non-banking financial company. Shares of Kirloskar Oil Engines jumped 2.3 per cent at ₹178.70 on the BSE on Tuesday. On Wednesday, the stock was at Rs 181.15, up Rs 2.45  (+1.37%) on the BSE.

Company news: WPIL

WPIL , through its European subsidiary Gruppo Aturia S.p.A., has signed a definitive sale and purchase agreement to acquire Finder Pompe S.r.l, a leading Italian engineered pump supplier. Finder, which had reported revenues of approximately €30 million in 2018, is a major pump supplier to the high-end API pump market for the oil & gas sector. Finder’s clients include Shell, Total, Saudi Aramco and Petronas. The stock of WPIL climbed 1.71 per cent at ₹846.55 on the BSE on Tuesday. On Wednesday it was at Rs 859.90, up Rs 8.20  (+0.96%)on the BSE.

What to watch: Strong Q4 sales may buoy Godrej Properties

Godrej Properties, on Monday, said it sold 2,900 flats for over ₹2,100 crore during the fourth quarter of last fiscal. In a press release, the company said it has achieved its highest-ever booking numbers in Q4 FY19, surpassing the figures of its best-ever quarter of October-December FY19. This record performance was achieved through the launch of four new projects, combined with very strong sales from existing inventory, the company statement added.

What to watch: Viceroy Hotels may weaken on ED fiat

The Enforcement Directorate on Tuesday attached properties worth ₹315 crore of Viceroy Hotels under the Prevention of Money Laundering Act in the bank fraud case relating to Best & Crompton Engineering.

Recently, the Committee of Creditors of Viceroy Hotels decided to seek further extension of time up to 30 days for the insolvency period beyond March 6 due to the ongoing negotiations with the resolution applicants that are in advanced stage to maximise stakeholder value.

What to watch: Tata Power-IGL pact may brighten both

Tata Power on Tuesday signed a pact with Indraprastha Gas (IGL) for solar projects in the country. The pact is for green energy solutions including rooftop solar projects, various integrated services including setting up of commercial-scale EV charging/battery swapping stations.

The MoU will explore the possibility of co-operation in common utility revenue cycle management and customer management solutions as well as sharing of existing standalone customer care infrastructure.

Sensex, Nifty hold firm

The benchmark indices, the Sensex and NIfty, held firm in early trading on Wednesday. The Sensex gained 180 points or 0.46 per cent to trade at 39,237, while the Nifty was trading at 11,746, up 33 points or 0.28 per cent higher.

The top gainers on the Sensex were IndusInd Bank, Tata Motors, Tata Steel, Maruti and YES Bank, while the laggards were Infosys, Larsen & Toubro, Hindustan Unilever, TCS and Coal India.

Among the BSE sectoral indices, the realty index traded firm for the second day running, holding gains of 2 per cent. Basic materials, consumer discretionary goods, finance, auto, consumer durables and metal were the other indices that firmed up.

Rating agencies see further delay in resolution process of stressed assets

The resolution of stressed loans where lenders’ aggregate exposure is ₹2,000 crore or more could get delayed as the Supreme Court declared the Reserve Bank of India’s February 12, 2018 circular on revised framework for resolution of stressed assets ultra vires. Click here to read in full the report on delay in resolution process of stressed assets .

Yen slips, Aussie rises as worries recede over US-China trade

The yen slipped and the Australian dollar rose on Wednesday as concerns over the US-China tariff war receded further, following a Financial Times report that the two sides have resolved most of the issues standing in the way of a trade deal. Click here to read in full the global forex market report .

Wall St stalls as Walgreens shares slip on profit warning

Emerging market currencies hit by prospects of higher US rates. File Photo

The benchmark S&P 500 stock index paused on Tuesday, taking a breather from Monday's strong quarterly kick-off as a decline in shares of Walgreens Boots Alliance Inc weighed and economic data did little to ease growth concerns. Click here to read in full the US stock market report .

Tata Steel to have 10% women of total workforce by 2025

Tata Steel on Tuesday said it is targeting to double the proportion of women working on its shopfloor to 10 per cent of the total workforce by 2025. Click here to read in full the Tata Steel report on women in the workforce .

Brent approaches $70 as oil prices rise for fourth day

India has reduced its purchases of Iranian oil, but has been in talks on extending a sanctions waiver. File Photo

Oil prices rose for a fourth day on Wednesday, with support from OPEC-led supply cuts and US sanctions overshadowing an industry report showing an unexpected rise in US inventories last week. Click here to read in full the oil markets report .

Opening bell

The benchmark indices, the BSE Sensex and the NSE Nifty, carried their recent firm trend into Wednesday'session, opening comfortably in the green.

The Sensex was trading at 39,180, up 123 points or 0.32 per cent, while the NSE Nifty was quoting at 11,733, up 20 points or 0.17 per cent.

MCX settles first aluminium physical-delivery contract

Multi Commodity Exchange executed delivery of 10 tonnes (2 lots) of aluminium under the first compulsory delivery futures contract on Tuesday. Click here to read in full the report on MCX's first aluminium physical-delivery contract .

Day Trading Guide for Wednesday, April 3, 2019

₹2296 • HDFC Bank

₹757 • Infosys

₹297 • ITC

₹157 • ONGC

₹1388 • Reliance Ind.

₹328 • SBI

₹2079 • TCS

11779 • Nifty 50 Futures

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Today's Pick: Bharat Electronics (₹100.9): Buy

Bharat Electronics ltd

Breaking above a key barrier at ₹98, the stock of Bharat Electronics gained 5 per cent accompanied by extraordinary volume on Tuesday. This rally provides traders with a short-term perspective an opportunity to buy the stock at current levels. Click here to read in full Today's Pick on Bharat Electronics .

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