Closing Bell: Sensex ends 192 pts lower, Nifty below 11,600 even as RBI cuts rate

Market at close: Benchmark indices ended lower but off day's low after Reserve Bank of India (RBI) slashed repo rate by 25 bps to 6 percent on April 4 as expected and kept the stance unchanged to Neutral.

At the close, the Sensex was down 192.40 points at 38,684.72, while Nifty was down 46 points at 11,598. About 1073 shares have advanced, 1426 shares declined, and 164 shares are unchanged. 

Top losers include TCS, HCL Tech, Hindalco Industries, BPCL and Yes Bank, while gainers were Indiabulls Housing, Zee Entertainment, Tata Motors, UltraTech Cement and Britannia Industries.

On the sectoral front, except auto, FMCG and pharma, all other indices ended in red led by IT, bank and energy.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-192-pts-lower-nifty-below-11600-even-as-rbi-cuts-rate-3759791.html

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RBI cuts repo rate: 12 rate-sensitive stocks that will benefit the most

The Reserve Bank of India (RBI) slashed repo rate by 25 bps to 6 percent on April 4 as expected and kept the stance unchanged to ‘Neutral’. This is the second rate cut in 2019.

“These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent while supporting growth,” the central bank said in a statement.

The MPC notes that the output gap remains negative and the domestic economy is facing headwinds, especially on the global front. The need is to strengthen domestic growth impulses by spurring private investment which has remained sluggish.

Rate cut usually acts as a sentiment booster and aid companies that have to service large debts. A cut by RBI injects liquidity in the economy. Loans with a low rate lead to an increase in buying interest in the consumer-driven economy which will help India Inc. to deliver strong earnings growth.

Top sectors which are likely to benefit the most from a rate cut are banking, NBFC, infrastructure and real estate. This rate cut will help in boosting demand and ease interest rate pressure on debt-heavy companies, suggest experts.

“If we look from the perspective of real estate sector the RBI rate cut will impact the home loan interest rate, this will allow the reduction in EMIs which will bring a positive impact on the sector's growth. IndiaBulls real estate and DLF are the two stocks which have some debt burden and seems to get the benefit of this rate cut,” Ritesh Ashar, CSO at KIFS Trade Capital told Moneycontrol.

“NBFC sector along with banks are also likely to get the benefit of this rate cut as the cost of funding will become low and there would be an improvement in the margin and in this space stocks like DHFL and Indiabulls Housing Finance looks quite promising,” he said.

Source:https://www.moneycontrol.com/news/business/stocks/rbi-cuts-repo-rate-12-rate-sensitive-stocks-that-will-benefit-the-most-3753751.html

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Sensex, Nifty open flat ahead of RBI meet; bank in focus

Market Opens: It is flat start for the Indian indices ahead of RBI policy meeting.

At 09:19 hrs IST, the Sensex is up 45.55 points at 38922.67, while Nifty is up 5 points at 11649. About 523 shares have advanced, 307 shares declined, and 52 shares are unchanged. 

Indiabullls Housing, Hero Motocorp, Titan, UltraTech Cement, L&T, Vedanta, Bharti Airtel, SRF, Godrej Agrovet are among major gainer, while losers are Wipro, HCL Tech, Zee Entertainment, UPL, BPCL, JSW Steel and Tata Steel.

On the sectoral front, except IT and metal, all other sectoral indices are trading in green.

Rupee Opens: The Indian rupee opened lower by 11 paise at 68.53 per dollar on Thursday versus 68.42 yesterday.

Source:https://www.moneycontrol.com/news/business/markets/market-live-sensex-nifty-open-flat-ahead-of-rbi-meet-bank-in-focus-3759791.html

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Closing Bell: Indices revert gains in late trade as Nifty ends below 11,650; BPCL down 4%

Market Close: Benchmark indices ended near day's low after Skymet predicts below normal monsoon due to developing El Nino.

Sensex and Nifty touched record high in the early trade today.

At close, the Sensex was down 179.53 points at 38877.12, while Nifty was down 69.20 points at 11,644. About 998 shares have advanced, 1574 shares declined, and 157 shares are unchanged 

BPCL, Zee Entertainment, IOC, SBI and GAIL were the top losers on the Nifty, while gainers were Indiabulls Housing, Maruti Suzuki, Bajaj Finserv, HCL Tech and JSW Steel.

All the sectoral indices ended in red led by PSU bank (down 2.5 percent) followed by pharma, infra, energy, IT, metal, auto and FMCG.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-indices-revert-gains-in-late-trade-as-nifty-ends-below-11650-bpcl-down-4-3751991.html

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Nifty hits record high: 10 stocks rallied 22-42% as index gained 1,160 pts

The optimism driven by increasing FII inflows helped Nifty50 to surpass its previous record high of 11,760.20 (touched in August 2018) on April 3 morning.

The index took 146 trading sessions to hit new record high of 11,761 on April 3. The rally actually started in February 2019, especially after opinion polls which indicated that ruling party can win 260-270 seats in general elections 2019.

FIIs have bought equity worth more than Rs 50,000 crore since February.

The Nifty50 has added 1,160 points and the BSE Sensex surged nearly 3,900 points since February 19, 2019.

The correction is over for the time being and the market is in uptrend. In fact, we are in a bull run started in 2013, though there were corrections in between. After September-October 2018 correction market nicely bounced back," Ramesh Damani, Member BSE said in an interview to CNBC-TV18.

Volatility is always associated with elections which come and go, the market is still in bull run and hope the Sensex will go above 40,000 and beyond soon, he added. However, as the market has rallied more than 10 percent and is at higher end of range, he would be cautious.

Among Nifty50, 46 stocks participated in the rally out of which top 30 stocks gained 10-42 percent.

Stocks that gained the maximum in last one-and-half-month are Indiabulls Housing Finance, Yes Bank, Hindustan Petroleum, Tata Motors and Indian Oil Corporation.

The stellar run was not restricted to benchmark indices only, in fact it spilled over to broader market as well which had underperformed since January 2018.

The Nifty Midcap index spiked nearly 14 percent and Smallcap index jumped 18 percent.

“Fresh highs were bound to happen as the force behind the trend looks intact for the further gains that may push Nifty to touch beyond 12K mark and Sensex beyond 39,500,” Mustafa Nadeem, CEO, Epic Research told Moneycontrol.

“Lower inflation, lower interest rate scenario, a dovish stance from Fed reserve and liquidity-driven markets, all these factors are favoring the current scenario,” he said.

The rally was across sectors with Nifty Bank, energy, financial service, infra, metal and realty gaining the most (12-20 percent). PSU Bank, the biggest underperformer due to NPA concerns, turned biggest gainer with 27 percent upside since February 19.

Source:https://www.moneycontrol.com/news/business/markets/nifty-hits-record-high-10-stocks-rallied-22-42-as-index-gained-1160-pts-3753061.html

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Metals with good amount of long positions built up to see strong upmove in April series

The April series seems to have opened with a huge bout of positivity. With Nifty closer to its previous highs and Bank Nifty venturing out into an unchartered territory, the bulls have all the reasons to be optimistic about the current market scenario.

One sector that is poised to take full advantage of this positivity is metals. The sector which has long been preparing itself for this move seems to be fully prepared to go full-out and perform itself in the April series. The fact that it closed with a big white candle pattern on the first day of April series, with a good amount of long positions built up, is indicative of a strong move to be anticipated in this sector.

In the monthly chart of Nifty Metals shown below, notice the hammer candle pattern marked in the blue arrow which falls at 50 percent Fibonacci retracement level.

Source:https://www.moneycontrol.com/news/business/markets/metals-with-good-amount-of-long-positions-built-up-to-see-strong-upmove-in-april-series-3731271.html

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Indices begin April series firm, Nifty above 11,600; Vodafone Idea gains 14%

Market Opens: It is a strong start for the April F&O series on Friday with Nifty above 11,600 level.

At 09:18 hrs IST, the Sensex is up 171.30 points or 0.44% at 38717.02, and the Nifty up 49.60 points or 0.43% at 11619.60.  About 592 shares have advanced, 203 shares declined, and 50 shares are unchanged. 

The gainers are IOC, Indiabulls Housing, Hindalco, Wipro, Tech Mahindra, RIL, BPCL, Can Fin Homes, Vodafone Idea, Jet Airways, PFC, REC while losers include Axis Bank, IndusInd Bank, Eicher Motors, SBI life and Motherson Sumi.

All the sectoral indices are trading in green led by metal, energy, infra, IT, pharma and auto.

Rupee Opens: The Indian rupee gained in the early trade on Friday. It opened higher by 10 paise at 69.24 per dollar versus previous close 69.34.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-indices-begin-april-series-firm-nifty-above-11600-vodafone-idea-gains-14-3722631.html

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Closing Bell: Nifty ends March series above 11,550, Sensex up 412 pts; PSU banks outperform

Market Close: Bulls took control on Dalal Street and pushed the Nifty above 11,550 on the March expiry day.

The Sensex was up 412.84 points at 38,545.72, while Nifty is up 136.50 points at 11,581.50. About 1633 shares have advanced, 979 shares declined, and 165 shares are unchanged. 

Indiabulls Housing, Zee Entertainment, HCL Tech, Adani Ports and SBI were the top gainers on the Nifty, while losers include ONGC, Tata Steel, Hindalco Industries, Dr Reddy’s Labs and Bajaj Auto.

Except metal all other sectoral indices ended in green led by PSU bank, IT, infra, FMCG, auto, energy and pharma.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-march-series-above-11550-sensex-up-412-pts-psu-banks-outperform-3714661.html

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Closing bell: Sensex jumps 424 pts, Nifty ends tad below 11,500; RIL, banks lead

Market Closing

Benchmark indices rebounded sharply after falling in previous two straight sessions, driven by banking & financials, and index heavyweight Reliance Industries.

The BSE Sensex rallied 424.50 points or 1.12 percent to 38,233.41 and the Nifty50 climbed 129 points or 1.14 percent to 11,483.30.

The Nifty Midcap index also gained over a percent but the market breadth was not so great.

About 1,377 shares advanced against 1,286 declining shares on the BSE.

NTPC, Reliance Industries, SBI, Vedanta and Bajaj Finance were leading gainers among Nifty50 stocks, rising 3-4 percent while Tech Mahindra, IOC, UPL, Infosys and Wipro lost 0.6-2.4 percent.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-jumps-424-pts-nifty-ends-tad-below-11500-ril-banks-lead-3700331.html

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Larsen & Toubro gains after hydrocarbon engineering division bags order

Larsen & Toubro shares gained nearly a percent in the morning trade on March 26 after its hydrocarbon engineering division bagged an order in Oman.

The stock was quoting at Rs 1,381.75, up Rs 4.55, or 0.33 percent on the BSE, at 1012 hours IST.

"The wholly-owned subsidiary L&T Hydrocarbon Engineering Limited has won a large order from Tawfiq Coke Products-Oman," the engineering and construction major said in its exchange filing.

The contract scope includes the selection of technology licensor, FEED & EPC for a 2 x 225,000 TPA plant of calcined coke from green pet coke.

"This award will further reinforce L&T's operations in Oman and provide an opportunity to contribute to the expansion of industrial facilities in Sohar," the company said.

Source:https://www.moneycontrol.com/news/business/markets/larsen-toubro-gains-after-hydrocarbon-engineering-division-bags-order-3700871.html

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International Market Updates

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Sensex marginally higher, Nifty inches towards 11,400; Jet Airways rallies 7%

Market Opening:

Benchmark indices opened marginally higher after a selling pressure seen in previous two consecutive sessions.

The BSE Sensex rose 51.28 points to 37,860.19 and the Nifty50 gained 31.90 points at 11,386.20.

Indiabulls Housing, Zee Entertainment, Eicher Motors, GAIL, Adani Ports, Bharti Infratel and Reliance Industries were early gainers.

Infosys, TCS, Tech Mahindra, HCL Technologies, JSW Steel and Power Grid were under pressure.

Nifty Midcap index was up 0.5 percent.

Jet Airways rallied 7 percent after Naresh Goyal and his wife stepped down from board.

Kalpataru Power Transmission gained 4 percent.

ICICI Prudential Life lost 2.5 percent.

Rupee Opening

The Indian rupee opened higher at 68.88 against the US dollar on March 26, 2019.

It appreciated by 5 paise compared to Monday's close of 68.93 to the dollar.

"The rupee ended mildly higher, on March 25, recovering from its intraday lows of 69.17. RBI three-year dollar-rupee swap auction will be held today. The move in the rupee will be keenly watched ahead of RBI’s monetary policy meeting next week," ICICI Securities said.

The brokerage further said the slump in US yields could cap the dollar's ability to appreciate sharply.

Investors continue to await the US-China trade talks outcome while ongoing Brexit uncertainty is also weighing on risk sentiments, it added.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-marginally-higher-nifty-inches-towards-11400-jet-airways-rallies-7-3700331.html

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Nifty may consolidate ahead of March expiry; HDFC Bank, ICICI, SBI top bets

Since the index is already up for 12-13 trading sessions, one should wait for some price and time correction to take place to initiate fresh long positions, Arun Kumar, Market Strategist, Reliance Securities, said in an interview with Moneycontrol’s Kshitij Anand.

Q) What is fuelling a rally in Nifty Bank and near-term target? Any stocks particularly in that index which are still looking attractive after recent rally?

A) The sharp breakout of NiftyBank index seen on March 5, 2019, triggered bullish signals on a near-term basis. On March 7, the Bank index surpassed its high of 27,754 recorded on January 9, 2019, on a closing basis.

This move confirmed the breakout and attracted long-term participation. Stocks, especially Axis Bank and ICICI Bank, improved the bullish sentiments with their sharp rallies.

Since the index is already up for 12-13 trading sessions, one should wait for some price and time correction to take place to initiate fresh long positions.

HDFC Bank, ICICI Bank, SBI and Axis Bank may be considered for going long, post the corrective action.

Q) Mid and small-cap stocks which have been hitting 52-week highs on consistently. Are they still worth looking at?

A) The NSE Midcap Index has consolidated around its long-term average for the past eight trading sessions and the index has moved up significantly after testing its 200-week moving average over the past five weeks.

Whereas, NSE Small-cap Index has been hovering just below its 200-DMA for the past nine trading sessions. It trades just below its 200-week moving average.

From a relative strength perspective (RSI), NSE Small-cap index displays better strength. Considering the behaviour of these indices against the benchmark, one must be very selective and trade in qualitative stocks.

Q) How is Nifty looking on charts ahead of the March F&O expiry?

A) The NSE Nifty50 Index is stretched on the near-term basis and may consolidate ahead of the expiry. Since the index is positive on a medium-term basis, we expect any corrective action to be limited. Ideally, it should hold above 11,250 on closing basis during next week to maintain its positive momentum.

Q) How are Airline stocks such as IndiGo, SpiceJet, and Jet Airways looking on charts?

A) IndiGo continues to rule the roost as the leader in this pack. It is the outperformer. The stock has scope to retain its leadership on a medium-term basis.

SpiceJet comes in as the second-best stock to trade and based on the setups it could generate positive returns on a medium-term basis.

However, Jet Airways has underperformed and there are no immediate signs of reversing this trend.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source:https://www.moneycontrol.com/news/business/markets/nifty-may-consolidate-ahead-of-march-expiry-hdfc-bank-icici-sbi-top-bets-3686931.html

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Nifty flat, Sensex trades higher; ONGC top loser

Market Opens: It is a flat start for the Indian indices with Nifty below 11,500 level.

The Sensex is up 9.74 points at 38373.21, while Nifty is up 0.90 points at 11533.30. About 391 shares have advanced, 235 shares declined, and 41 shares are unchanged. 

Vedanta, Infosys, L&T, TCS and Axis Bank are the top gainers on the Sensex.

Rupee Opens: The Indian rupee opened lower by 8 paise at 69.05 per dollar on Wednesday versus Tuesday's close 68.97.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-flat-sensex-trades-higher-ongc-top-loser-3669791.html

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Sensex back above 38K: Here’s how you can allocate Rs 10 lakh right now

It is not the time to invest because of the massive up move we saw in the last few days. The market might be overvalued right now. If these are your thoughts, rest assured you are not alone.

History suggests that retail investors joined the rally near highs and booked profits or closed positions when the time came to add positions. Well, the market is certainly not at its peak but the risk-to-reward ratio might have come down at least for the near term.

But, if you plan to stay in the market for the long term – the time is still right, suggest experts, and efficient portfolio allocation would be the key for wealth generation.

The market has sprinted in March to reclaim lost glory as Sensex and Nifty both are above crucial resistance levels.

The S&P BSE Sensex has rallied 2,157 points, or about 6 percent, so far in March while Nifty50 has registered a vertical climb of 634 points, or 5.8 percent.

So, what fuelled the rally? Well, a host of global as well as domestic factors led to strong risk-on sentiment towards equities. The gush of liquidity from foreign institutional investors of about Rs 19,000 crores has been the major factor driving the rally.

“Weakness in the US dollar is normally positive for emerging market inflows and India has got more than the fair share of foreign inflows due to improving macro scenario and market sentiments,” Gaurav Dua, head of research, Sharekhan by BNP Paribas told Moneycontrol.

“Recent events have increased the probability of the NDA government gaining higher than earlier expected seats in the forthcoming elections boosting market sentiment. The rally is seen across financial markets - equities, bond and appreciation in the rupee despite the rising fears of fiscal slippages,” he said.

Time to put additional funds?

Experts feel that the time is fairly right for investors to get into market and dips, if any, should be used for making a diversified portfolio which leads to long-term wealth creation.

Here are views from various experts on allocation if you are looking to invest right now. We have taken Rs 10 lakh as investment corpus:

“The strategy at the current phase should be focused towards having a proper balance across different asset classes. And therefore, by keeping a long-term view, an investor can allocate 40 percent of total amount, say Rs 10 lakhs, in quality large-cap companies coupled with a marginal allocation of 10 percent in midcap/small cap companies which have to be backed by decent valuation,” Dinesh Rohira. Founder & CEO at 5nance.com told Moneycontrol.

“It is also practical to allocate 30-40 percent of overall allocation in debt instrument with short-to-medium maturity papers given a possible pause in interest rate regime going forward, and remaining 10 percent to be allocated in gold or gold funds,” he said.

He further added that while investing in equity, one should follow a staggered approach and gradually increase the allocation once the market stabilizes in a fair trend.

Source:https://www.moneycontrol.com/news/business/stocks/sensex-back-above-38k-heres-how-you-can-allocate-rs-10-lakh-right-now-3655141.html

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Closing Bell: Sensex ends 269 points higher, Nifty above 11,400; IT stocks outshine

Market at close: Benchmark indices ended higher but off day's high on the back of last hour selling pressure.

The Sensex was up 269.43 points at 38024.32, while Nifty was up 83.60 points at 11,426.90. About 1172 shares have advanced, 1452 shares declined, and 162 shares are unchanged. 

Among the gainers, Kotak Mahindra Bank rose 4%, followed by Power Grid Corp, TCS, ICICI Bank and SBI, while on the other hand HUL shed 2 percent, followed by Yes Bank, RIL, Bharti Airtel and ITC on the Sensex.

On the sectoral front, IT index has outperformed the other indices with nearly 2 percent gain followed by auto, infra, metal and pharma, while selling was seen in the FMCG space.

Nifty Bank continued its upward momentum as it ended 1.6 percent higher at 29381.50.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-269-points-higher-nifty-above-11400-it-stocks-outshine-3649211.html

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Indices off day's high, Nifty trades flat; Power Grid Corp falls 3%

Market opens: It is a firm start for the Indian indices on Thursday morning with Nifty around 11,370 level.

The Sensex is up 131.80 points at 37883.97, while Nifty is up 32.80 points or 0.29% at 11374.50. About 566 shares have advanced, 268 shares declined, and 56 shares are unchanged. 

DHFL gained 5 percent, followed by Lemon Tree, Lupin, Zee Ent, Indianbulls Housing, HCL Tech, Axis Bank, Yes Bank, Infosys are among the major gainers on the indices, while losers include Power Grid, BPCL, Tata Motors, Adani Ports and HPCL.

Among the sectors, FMCG, infra and energy are trading marginally lower, while IT, metal, pharma, and auto witnessing buying interest.

Rupee Opens: The Indian rupee opened lower by 14 paise at 69.67 per dollar on Thursday versus previous close 69.53.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-around-indices-off-days-high-nifty-trades-flat-power-grid-corp-slumps-3-3644301.html

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