4.20 pm

Closing bell

Equity benchmark Sensex rallied about 370 points to scale a record closing high of 39,275.64 as investors’ sentiment got further boost from forecast of a near-normal monsoon and a bumper start of corporate earnings season.

The 30-share BSE index Sensex ended higher by 369.80 points or 0.95 per cent at 39,275.64. The top gainers were IndusInd Bank, ICICI Bank, ONGC, L&T, and Maruti Suzuki while the laggards were Infosys, PowerGrid, Tata Motors and Tata Motors-DVR.

Rising for the fourth straight session, the 30-share BSE Sensex also marked its intra-day record of 39,364.34. The rally was mainly driven by financial, consumer durables, auto and oil and gas stocks.

Among the sectoral indices, the bank stocks emerged the top gainer, ending higher by 1.62 per cent, followed by consumer durables, finance, and telecom.

The larger index Nifty closed higher by 96.80 points or 0.83 per cent at 11,787.15. The top gainers were IndusInd Bank, ICICI Bank, Titan, ONGC,  and Grasim while the stocks ended in red were Wipro, Cipla, GAIL, Tata Motors, and Infosys.

“Market rallied to a new high supported by optimism over quarter earnings and positive global market. A better monsoon outlook from IMD provided relief to investors, who are keen on earnings outcome to accumulate quality stocks despite election led volatility,” Vinod Nair, Head of Research, Geojit Financial Services Ltd, said.

Meanwhile, the Indian rupee depreciated 24 paise to 69.67 against the US dollar intra-day. - With inputs from PTI

4.05 pm

Bullion market

GOLDJEWELLERY

Gold gains increased buying from local jewellers.

 

Snapping the four-day losing streak, gold prices surged by Rs 170 to Rs 32,790 per 10 gram in the national capital on increased buying from local jewellers. Silver too followed suit by gaining Rs 250 to Rs 38,350 per kg on more offtake by industrial units and coin makers. Read more on the bullion market here

3.50 pm

European stocks

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Stock price figures sit on display inside the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, Germany. File Photo

 

European shares gained for the fifth day, bolstered by bank and retails stocks while data out of China added to hopes of stabilization in the world's second-largest economy. The pan-European STOXX 600 index gained 0.2 per cent by 0928 GMT led by Germany's DAX 0.6 per cent rise while Spanish and Italian bourses were flat to modestly lower. More on the Europe stock markets, click here

3.35 pm

Forex swap

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The forex swap window opened by the central bank can potentially ease the interest costs for the industry and can potentially help top 500 borrowers of foreign funds save up to Rs 7,000 crore as the issuances increase, says a India Ratings report. Read more on the India Ratings report on forex swap auctions here

3.20 pm

Sensex, Nifty in green

The 30-share BSE index Sensex was trading higher by 342 points or 0.88 per cent at 39,247.84.  The bank stocks ICICI Bank, HDFC Bank and IndusInd Bank lent support to the index. L&T and HDFC were other gainers in the positive pack.

The laggards were Infosys, PoweGrid, Tata Motors, Tata Motors-DVR.

Sectorally, the bank stocks was the major gainer, trading higher by 1.52 per cent. Finance and consumer durables indices were also among the top gainers. Realty stocks were trading in the negative zone.

The NSE index Nifty was trading at 11,783, higher by 92.65 points or 0.79 per cent. The top gainers were IndusInd Bank, ICICI Bank, Titan, ONGC, and Adani Ports while the Wipro, Cipla, Tata Motors, PowerGrid, and GAIL were leading the negative pack

3.05 pm

Wipro shares

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Shares of IT major Wipro fell 3.5 per cent after the company said a few of its employee accounts were affected in an “advanced phishing campaign”. IT major Wipro on Tuesday said a few of its employee accounts were affected  in an “advanced phishing campaign”, and the company has taken remedial steps to contain and mitigate any potential impact.

The stocks of Wipro was trading lower by 2.17 per cent at Rs 281.90

2.50 pm

Opinion on WPI inflation

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Falling prices There is a deflationary trend in fruits and vegatables

 

The headline retail inflation measured in terms of Consumer Price Index — Combined (CPI-C) has trended downward since September 2018 and reached 2.0 per cent in January 2019 on a year-on-year basis. What are the factors contributing to the waning retail inflation rate ? Click to read more

2.35 pm

Jet Airways tank 19%

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Shares of Jet Airways plunged nearly 19 per cent on Tuesday amid reports that the company is likely to temporarily shut down its operations. The scrip which had opened the day on a weak note further plummeted 18.56 per cent to Rs 213.20 on BSE during the afternoon trade. Read more on the stock activity of Jet Airways here

2.20 pm

Sensex surges 437 points

The 30-share BSE index Sensex surged 437.72 points or 1.13 per cent to 39,343.56. The scrips of ICICI Bank, TCS, HDFC Bank, Reliance, and L&T cushioned the index and the stocks of Tata Motors, PowerGrid, Bharti Airtel, Infosys, and Coal India were trading in red.

Among the sectoral indices, the top gainers were bank stocks trading higher by 1.68 per cent. Capital goods, consumer durables, and finance indices were also in the positive pack. Realty stocks were alone trading in the negative zone.

The broader index Nifty jumped 118.90 points or 1.02 per cent to 11,809.25. The major gainers were ICICI Bank, IndusInd Bank, Titan, Hindalco, and L&T while the laggards were Wipro, Tata Motors, Cipla, Bharti Airtel, and PowerGrid

2.05 pm

Shriram Transport Finance to raise $500 mn

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Representative image

 

Asset financing firm Shriram Transport Finance Company said it will raise $500 million (approx Rs 3,475.50 crore) through issuance of secured notes. Shriram Transport Finance said it plans to use the proceeds from the fund raise for onward lending and other activities as may be permitted by the External Commercial Borrowings (ECB) directions. Read more on the fund raising proceeding by Shriram Transport Finance here

1.50 pm

Naresh Goyal opts out from bidding

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Naresh Goyal, founder of Jet Airways has withdrawn from the race to bid for retaking control of the ailing airline. According to sources, Goyal has exited the process as the lenders were not keen to go ahead with his application.

On March 25, Goyal, the Promoter and Chairman of Jet Airways, along with his wife Anita Goyal, was forced to step down from the board after the company defaulted on payments. The lenders had also converted a substantial part of his pledged shares into equity. Read more on the Jet Airways bidding process and Naresh Goyal's withdrawal here

The stock of Jet Airways was trading lower by 13.04 per cent at Rs 277.65

1.35 pm

Nifty Call

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The CNX Nifty logo is displayed on a glass facade at the National Stock Exchange (NSE) in Mumbai, India, on Tuesday, Feb. 10, 2015. Prime Minister Narendra Modi conceded an overwhelming defeat in a local election in India's capital, his first setback at the polls since taking charge of Asia's third-biggest economy last year. Photographer: Dhiraj Singh/Bloomberg

 

 The Nifty Bank index has gained almost 1 per cent in today's session lead by private banks. The market breadth of the Nifty index is biased towards advances. The Nifty April month contract began the session with a gap-up open at 11,758 and has been trending upwards. Read our Nifty call for April futures here

1.20 pm

Sensex zooms 375 points

The 30-share BSE index Sensex zoomed 375.30 points or 0.96 per cent to 39,281.14. The stocks of ICICI Bank, TCS, Reliance Industries, ITC , and L&T were lending support to the index. The scrips trading in red were Infosys, Bharti Airtel, Tata Motors, Power Grid, and Tata Motors-DVR.

Sectorally, the bank stocks were the top gainers, trading higher by 1.52 per cent, followed by capital goods, finance and consumer durables. The realty stocks were alone trading in the negative zone.

The broader index Nifty was trading higher by 96.65 points or 0.83 per cent at 11,787. ICICI Bank, IndusInd Bank, Titan, Asian Paint, and Infratel were leading the positive pack while the laggards were Wipro, Tata Motors, Bharti Airtel, Cipla, and Infosys.

1.05 pm

ICICI Bank stocks jump

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Shares of ICICI Bank Ltd rise as much as 3.3 per cent to Rs 405.5, marking their biggest intraday per cent gain since March 12. Over 11.4 million shares change hands, compared with 30-day average of 16.1 million shares. Read more on the stock activity of ICICI Bank here

12.50 pm

Gold prices

GOLD

Gold prices slipped for a fourth straight session. File Photo

 

Gold prices slipped for a fourth straight session as recent upbeat economic data and signs that Washington and Beijing were making headway in a nearly year-long trade tariff skirmish boosted risk sentiment. Spot gold was down 0.2 per cent at $1,284.98 per ounce, as of 0326 GMT. In the previous session, the bullion dropped to $1,281.96, its weakest since April 4. Read more on the gold and other precious metals prices here

12.35 pm

Spicejet stocks soar

Shares of low-cost carrier SpiceJet Ltd surged as much as 8.09 per cent to their highest since May 2018. SpiceJet said to expand its Bombardier fleet by inducting five more Q400s. The airline to add three Q400s in the next ten days. The stock was up 33.8 per cent this year as of Monday's close. The stock was trading higher by 5.91 per cent at Rs 126.40.

Related Stories
Five Bombardier aircraft to join SpiceJet’s fleet
 

12.20 pm

Shares hit record highs

The shares extended gains to record highs, led by index heavyweights ICICI Bank Ltd and Reliance Industries Ltd, amid sustained buying from foreign investors. Investors were also optimistic as the earnings season got off to a good start and the state-run weather office forecast average monsoon rains this year.

The rally in stocks is not across the board - mid-caps are not moving, which is an indication that foreign institutional investors are in the market and are driving it higher, said R.K. Gupta, managing director at Taurus Asset Management.

Foreign investors bought shares worth a net $420.2 million in the last three sessions, taking the total purchase for the month to $2.01 billion. Average monsoon rains this year would help to reduce bad loan levels at banks, and improve GDP, according to Gupta.

The broader NSE index was up 0.72 per cent or 84.20 points at 11,774.55 and the benchmark BSE index was 0.79 per cent or 308.84 points higher at 39,214.68. Both indexes were headed for their four straight sessions of gains.

Meanwhile, Asian stocks kept below a nine-month high after disappointing bank earnings stalled Wall Street, though recent signs that the global economy is likely to avoid a sharper downturn helped limit the losses.

ICICI Bank rose as much as 3.3 per cent in its sharpest intraday gain in five weeks and was the top boost to both indexes, after reports that Goldman Sachs raised its target price to Rs 492 from Rs 451.

Reliance Industries rose 1.5 per cent to its highest since April 5, while SpiceJet Ltd surged as much as 8.1 per cent to its highest since May 2018 after the low-cost carrier said it would expand its Bombardier fleet by inducting five more Q400 aircraft.

The Nifty Midcap 50 Index climbed 0.3 per cent, while the Nifty Midcap 100 index gained 0.4 per cent.

Among losers, Wipro Ltd fell as much as 0.9 per cent after the IT services firm said it was investigating a potential breach of some of its employee accounts due to an advanced phishing campaign. The company is due to release its fourth-quarter results later in the day. - Reuters

12.05 pm

Wipro results

The board of Wipro will meet to consider financial results for the year and quarter ended March 2019. Besides, it will consider a buyback proposal, for which it received approval recently from SEBI. The stock of Wipro was trading higher by 0.10 per cent at Rs 288.45

The IT firm said some of its employee accounts may have been hacked due to an advanced phishing campaign and that the company had launched an investigation to contain any potential impact.

Related Stories
Wipro investigates cyber attack
The software exporter is reportedly dealing with a multi-month intrusion from an assumed State-sponsored attacker.
 

11.50 am

Coal India hits near 5-month high

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Shares of Coal India Ltd gained as much as 2.68 per cent to Rs 256.7, the highest since November 26, 2018. The stock also broke above its 200-day exponential moving average, seen as a bullish sign. The stock is up 7.46 per cent in the last three months as of Monday's close. Here's more on the stock activity of Coal India

11.35 am

LVB share allotment

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Lakshmi Vilas Bank said it plans to allot nearly 5 per cent equity shares on a preferential basis to Indiabulls Housing Finance Ltd. It is expected that the relevant date (of allotment of equity) could be by the end of April 2019. The board of LVB has approved the merger with IBHL in which shareholders of the bank will get 14 shares of IBHL for every 100 shares they hold. Click here to read more on the share allotment of Lakshmi Vilas Bank to Indiabulls Housing Finance

11.20 am

Sensex, Nifty trading higher

The 30-share BSE index Sensex rose 337.23 points or 0.87 per cent to 39,243.07. The index was supported by the scrips of ICICI Bank, Reliance, L&T, ITC, and TCS while the laggards were Infosys, Tata Motors, Bharti Airtel, Tata Motors-DVR, and Coal India.

Sectorally, the bank and capital goods were the top gainers while the realty sector was alone trading in the negative zone.

The 50-share NSE index Nifty was trading higher by 90.30 points or 0.77 per cent at 11,780.65. The major gainers were ICICI Bank, Asian Paints, IndusInd Bank, L&T, and Titan. The stocks of Tata Motors, Bharti Airtel, Cipla, Infosys, and Wipro were leading the negative pack.

11.05 am

US stocks

GLOBALMARKETS
 

Wall Street lost ground on Monday, dragged down by financials as underwhelming bank earnings curbed investor enthusiasm. But while all three major US stock indexes edged lower, the S&P 500 remained within a per cent of its record high. More on the US stock markets, read here

10.50 am

Polycab India debuts

Polycab-India
 

Shares of wires and cables manufacturer Polycab India Limited made a robust market debut, rising nearly 18 per cent against the issue price of Rs 538 per share. The scrip listed at Rs 633, zooming 17.65 per cent from the issue price on the BSE. It later jumped 22.67 per cent to Rs 660. Click here to read more on the performance of Polycab India shares on market debut

10.35 am

Sensex surges 340 points

The 30-share BSE index Sensex surged 347.78 points or 0.89 per cent to 39,253.62. The top gainers were ICICI Bank, L&T, Asian Paints, TCS, and IndusInd bank while the scrips of Infosys, Tata Motors, Tata Motors-DVR, and Bharti Airtel were in the red.

Among the sectoral indices, the biggest gainer was the energy index, trading higher by 1.20 per cent. It was followed by bank and capital goods stocks. Realty stock index was alone trading in the negative zone.

The braoder index Nifty jumped 86 points or 0.74 per cent to 11,776.35. Major gainers were ICICI Bank, IOC, Coal India, Vedanta, and Infratel while the laggards were Tata Motors, Infosys, Bharti Airtel, Cipla, and HDFC Bank

10.20 am

Rupee market

RUPEE

The rupee opened at 69.55 at the interbank forex market.

 

The rupee fell 17 paise to 69.59 against the US dollar in opening trade on increased demand for the greenback from importers and banks. The rupee opened at 69.55 at the interbank forex market, then lost further ground and fell to 69.59, down 17 paise over its last close. More on the currency market report here

10.05 am

Jet Airways stocks fall

Jet Airways shares fell more than 3 per cent after the company said it plans to extend suspension of international flights until Thursday. The airline, which owes vast sums to lessors, is saddled with some $1.2 billion of bank debt.

Related Stories
Jet Airways tank 19% amid reports of temporary shut down of operations

The stocks of Jet Airways was trading lower by 2.98 per cent at Rs 254.

9.50 am

Sensex jumps over 200 pts; Nifty above 11,750

The BSE benchmark Sensex jumped over 200 points in early trade led by gains in banking, metal, oil and gas, telecom and auto stocks, amid unabated foreign fund inflows and positive global cues.

The 30-share index was trading 271.71 points or 0.70 per cent higher at 39,177.55, and the NSE Nifty was trading 69.60 points, or 0.60 per cent, up at 11,759.95 in early session.

In the previous session, the BSE index settled 138.73 points, or 0.36 per cent, higher at 38,905.84, while the broader Nifty rose 46.90 points, or 0.40 per cent, to close at 11,690.35.

According to Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas, Q4FY19 earnings season will remain crucial for further upside in the market. “The rally in the market has been mainly due to aggressive buying by the FIIs; and for valuations to sustain, there needs to be an uptick in earnings growth this quarter,” he said.

Foreign institutional investors (FIIs) purchased equity worth Rs 713.22 crore on Monday, and domestic institutional investors (DIIs) bought equities to the tune of Rs 581.36 crore, provisional data available with stock exchanges showed.

Top gainers in early trade include ICICI Bank, Vedanta, Coal India, M&M, Asian Paints, Hero MotoCorp, Maruti, IndusInd Bank, Sun Pharma, RIL and HCL Tech, rising up to 2.67 per cent.

On the other hand, Bharti Airtel, Infosys, Tata Motors, Tata Steel and HUL were the only losers in the Sensex pack, shedding up to 0.65 per cent.

Meanwhile, the rupee depreciated marginally to 69.49 against the US dollar in early trade. - PTI

9.40 am

Asian markets

GLOBALMARKETS
 

Asian stocks hovered below a nine-month high after disappointing bank earnings dented Wall Street, though recent signs that the global economy is likely to avoid a sharper downturn helped limit the losses. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed by mid-morning. Read the Asian markets report here

9.25 am

Stocks in focus

The board of Wipro will meet to consider financial results for the year and quarter ended March 2019. Besides, it will consider a buyback proposal, for which it received approval recently from SEBI. Analysts expect the company to announce a buyback worth ₹12,000 crore. Focus will be on the buyback price and the mode - whether through the open market or by the tender offer route. Besides, analysts expect Wipro to report decent quarterly numbers.

5Paisa Capital, Den Networks and Mastek will announce their financial results for the quarter and year ended March 2019. The board of 5Paisa Capital will also consider a fund-raising proposal by issuing non-convertible debentures on private placement basis. Mastek, a mid-tier ITfirm, had reported a profit of ₹12.70 crore and revenues of ₹48.85 for the December quarter. For FY19, the figures are ₹15.74 crore and₹162.32 crore, respectively.

Deepak Fertilisers and Petrochemicals Corporation has begun commercial production of nitric acid complex at Dahej, Gujarat. The facility, set up at a project cost of about ₹550 crore, has production capacities of about 92 ktpa of concentrated nitric acid and 149 ktpa of diluted nitric acid. Nitric acid in different grades is used in the aromatics, pharmaceuticals, dyes, steel-rolling, Defence and explosives industries. Shareholders will closely monitor the development.

9.15 am

Opening bell

The 30-share BSE index Sensex opened higher by 134.46 points at 39,040.30 against the previous close of 38,905.84. The 50-share NSE index Nifty also opened higher by 48.75 points at 11,743.40 against the previous close of 11,690.35.

9.10 am

Day Trading Guide

₹2285 • HDFC Bank

 

₹726 • Infosys

 

₹305 • ITC

 

₹156 • ONGC

 

₹1339 • Reliance Ind.

 

₹315 • SBI

 

₹2110 • TCS

 

11727 • Nifty 50 Futures

 

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

9.00 am

Today's Pick

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We recommend a buy in the stock of Meghmani Organics at the current levels of Rs 67.7. The short-term outlook is bullish. Buy the stock with a stop-loss at ₹66. Read our stock recommendation and stock activity of Meghmani Organics here

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