Gold gains as dollar eases; focus on US-China talks

Gold gained on Thursday, supported by an easing dollar as investors awaited progress on the ongoing Sino-U.S. trade negotiations after reports showed that both sides were nearing a deal.

Spot gold rose 0.2 percent to $1,291.89 per ounce as of 0332 GMT. U.S. gold futures firmed 0.1 percent at $1,296.90 an ounce.

"One of the key issues would be the China-U.S. trade negotiations. There is a lot of optimism around the idea that we will see a peaceful resolution and some agreement really soon," said Michael McCarthy, chief market strategist, CMC Markets.

"However, if the trade talks drag out we could see further support for gold because of its implications for growth."

Gold is often seen as a safe investment during times of financial and political uncertainties.

A pause in the equities rally also helped the bullion. Asian shares held near an eight-month peak as investors awaited developments on trade talks.

Negotiations between the United States and China made "good headway" last week in Beijing and the two sides aim to bridge differences during talks this week, White House economic adviser Larry Kudlow said.

The dollar was trading near one-week low posted in the previous session after data showed U.S. services sector activity hit a more than 19-month low in March and private payrolls grew less than expected.

Market participants are now awaiting the U.S. nonfarm payrolls data, due on Friday, as it would offer insights on the strength of the U.S. economy.

A weak payrolls data could further weigh on the U.S. unit, making dollar denominated metals cheaper for investors holding other currencies.

Holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, also fell for a third consecutive session on Wednesday. Holdings were at their lowest level since Dec. 17 at 24.57 million ounces.

Among other precious metals, spot platinum rose the most in more-than-two-years in the previous session to touch its highest level since end-June 2018 at $879.03 an ounce.

The auto-catalyst metal was down 0.2 percent at $872.93 an ounce on Thursday, while its sister metal palladium was up 0.3 percent at $1,409.15.

Silver dipped 0.3 percent to $15.09 per ounce.

Source:https://www.moneycontrol.com/news/business/markets/gold-gains-as-dollar-eases-focus-on-us-china-talks-3760881.html

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International Market Update

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Opening Bell

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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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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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United Breweries jumps 6% on report of Heineken raising stake in co

United Breweries shares rallied 6 percent in the morning trade on March 27 after a media report indicated that Heineken raised its stake in the company.

The stock was quoting at Rs 1,409.80, up Rs 61.90, or 4.59 percent on the BSE, at 0936 hours IST.

According to the report by CNBC-TV18 quoting unnamed sources, Heineken purchased an additional 75 lakh shares (representing 2.8 percent of total paid-up equity of company) of United Breweries through block deal at Rs 1,395 apiece.

Out of total promoter holding, Heineken held 43.7 percent equity stake in United Breweries and Vijay Mallya has 8.08 percent holding in the company as of December 2018.

Source:https://www.moneycontrol.com/news/business/markets/united-breweries-jumps-6-on-report-of-heineken-raising-stake-in-co-3707811.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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Nifty forms bearish candle; consolidation likely but 11,383 crucial for bulls

The Nifty50 took a breather on March 14 and closed flat after witnessing a rally in previous three consecutive sessions. The broader markets also barely changed against its previous close.

The index remained in a range of 30 points for major part of the session and formed bearish candle on the daily charts as closing is way below its opening price.

Considering breather after a three-day rally indicates that there could be some more consolidation in the coming session, but the major downside is unlikely, experts said, adding 11,383 is crucial level for bulls.

The Nifty50 after positive opening at 11,382.50 traded higher for nearly one hour and hit an intraday high of 11,383.45 after RBI's latest statement on liquidity infusion in the system. But the index failed to sustain those gains and hit a day's low of 11,313.75. The index remained rangebound for major part of the session and closed at 11,343.30, up 1.60 points.

"Nifty50 registered a bearish candle on intraday charts, suggesting that market hit a pause mode for time being," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory at Chartviewindia.in told Moneycontrol.

He said, in next trading session if Nifty slips below 11,313 then it shall attract further selling pressure for the day which may then hint at a short term top around March 14 high of 11,383. In such a scenario initial target shall be in the zone of 11,227–11,180, he added.

As twin momentum oscillators, which usually have higher accuracy in catching short term turning points are on sell mode, he advised traders to refrain from maintaining or creating fresh long positions at this juncture.

India VIX moved down by 0.98 percent to 15.12. VIX has been hovering near to 15 but it has recently declined from higher zones which is supporting the overall bullish stance, experts said, adding option band signifies a shift in higher trading range in between 11,150 to 11,450 zones.

On Option front, maximum Put open interest (OI) is at 11,000 followed by 11,200 strike while maximum Call OI is at 11,500 followed by 11,400 strike.

Put writing is at 11,300 followed by 11,200 strike while Call writing is at 11,400 followed by 11,500 strike.

"On immediate basis Nifty index has to continue to hold above 11,280 to extend its upmove towards 11,400-11,450 while on the downside support exists at 11,280 then 11,222," Chandan Taparia, Associate Vice President | Analyst-Derivatives at Motilal Oswal Financial Services said.

Bank Nifty opened positive and hit a fresh life-time high of 29,070, however, it failed to hold above 29,000 and slipped marginally towards 28,800. It later recovered from lower levels but formed a bearish candle on the daily scale. The index closed 38.80 points higher at 28,923.10.

"Now it has to continue to hold above 28,688 to extend its momentum towards new life-time high of 29,000 then 29,250 while on the downside major support exists at 28,500 then 28,388," Chandan Taparia said.

Source:https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-bearish-candle-consolidation-likely-but-11383-crucial-for-bulls-3647341.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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MCX SUpport and Resistance Level

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PSU banks extend gains led by PNB; Axis Bank hits new 52-week high, Zee Entertainment drags

The Sensex and the Nifty have managed to recover from the lows of the day with Nifty50 adding 27 points, trading at 11080 while the Sensex gained 158 points and was trading at 36,794 mark.

Nifty PSU Bank was the outperforming sector, up over 1 percent led by PNB, Bank of Baroda, Oriental Bank of Commerce, Syndicate Bank, Vijaya Bank and Canara Bank.

From the private banking space, the top gainers were Axis Bank and HDFC Bank.

Selective infra stocks were buzzing in this afternoon session led by Larsen & Toubro, Bharti Airtel, NHPC, Power Grid and Vodafone Idea.

From the FMCG space, the top gainers were ITC, Jubilant Foodworks, Hindustan Unilever and Godrej Consumer.

However IT stocks were trading in the red with loses from Wipro, Infosys, Tech Mahindra and Oracle Financial Services.

From the media space, the top losers were DEN Networks, Dish TV, TV Today and Zee Entertainment.

The top gainers from NSE included Larsen & Toubro, Mahindra & Mahindra, Axis Bank, HPCL and ITC while the top losers included Wipro, Coal India, Indian Oil Corporation, Tech Mahindra and Zee Entertainment.

The most active stocks were Reliance Industries, L&T, Axis Bank, YES Bank and Indiabulls Housing Finance.

21 stocks have hit new 52-week high on NSE including Axis Bank, Bata India, Praj Industries, REC, Dalmia Bharat Sugar, Aavas Financiers and Adani Gas.

The breadth of the market favoured the advances with 900 stocks advancing and 826 declining while 348 remained unchanged. On the BSE, 1318 stocks advanced, 1261 declined and 150 remained unchanged.

Source:https://www.moneycontrol.com/news/business/markets/d-street-buzz-psu-banks-extend-gains-led-by-pnb-axis-bank-hits-new-52-week-high-zee-entertainment-drags-3619461.html

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Nifty holds above 11,050 in flat trade; metal stocks under pressure

Market Opens: It is a firm start for the Indian indices on Thursday with Nifty trading above 11,050 level.

The Sensex is up 45.83 points at 36681.93, while Nifty is up 4.40 points at 11057.40. About 557 shares have advanced, 285 shares declined, and 45 shares are unchanged. 

IndusInd Bank, Power Grid, HPCL, IOC, BPCL, Tata Motors, Titan, Zee Ent, Gail, Bharti Airtel are some of the gainers in the early trading session, while losers include Biocon, Indiabulls Housing, Tata Steel, Vendata, JSW Steel.

Among the sectoral indices, metal index is under pressure with 1 percent cut, followed by auto, pharma and PSU Bank, while some buying is seen in the energy, infra, FMCG and IT.

Rupee Opens: The Indian rupee gained in the early trade on Thursday. It opened higher by 20 paise at 70.08 per dollar versus previous close 70.28.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-holds-above-11050-in-flat-trade-metal-stocks-under-pressure-3616981.html

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Closing Bell: Nifty ends above 11,050, Sensex up 193 points; Dilip Buildcon gains 14%

Market at close: Benchmark indices ended higher for the third consecutive day with Nifty finished above 11,050.

The Sensex was up 193.56 points at 36636.10, while Nifty was up 65.50 points at 11053. About 1636 shares have advanced, 1025 shares declined, and 147 shares are unchanged. 

BPCL, Bajaj Finance, ICICI Bank, Reliance Industries, Vedanta, Power Grid Corp and Bharti Infratel were among major gainers on the indices, while Tata Motors, Axis Bank, HUL, Hero Motocorp, HCL Tech, Zee Entertainment and Indiabulls Housing were on the losing side. 

Among the sectors, except auto all other indices ended in green led by energy, pharma, infra and metal.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-above-11050-sensex-up-193-points-dilip-buildcon-gains-14-3612041.html

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Sensex gains 150 pts, Nifty around 11,050; Wipro, ITC in focus

Market Opens: It is strong start for the benchmark indices on Wednesday with Nifty opens above 11,000 level.

The Sensex is up 158.64 points at 36601.18, while Nifty is up 47.10 points at 11034.60. About 777 shares have advanced, 146 shares declined, and 43 shares are unchanged 

Wipro, Indiabulls Housing, L&T, HPCL, BPCL, ITC, Vedanta, Grasim, DHFL, are the top gainers on the indices, while losers are Bharat Forge, Reliance Capital 

All the sectoral indices are trading green, while midcap and smallcap also up 0.6 percent.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-gains-150-pts-nifty-around-11050-wipro-itc-in-focus-3612041.html

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Closing Bell: Nifty ends 124 pts higher, Sensex up 378 pts; auto stocks biggest gainers

Market at close: It is a strong close for benchmark indices on first day of the week as market was shut on Monday on account of Mahashivratri. 

The Sensex was up 378.73 points at 36442.54, while Nifty was up 124.00 points at 10987.50. About 2118 shares have advanced, 568 shares declined, and 152 shares are unchanged. 

Indiabulls Housing, Eicher Motors, Tata Motors, HPCL and BPCL were the top gainers on the Nifty, while losers were Wipro, Tech Mahindra, Infosys, HUL and Cipla.

Midcap and smallcap gained 2-3 percent, respectively. Among the sectors, auto, metal and PSU bank indices led with 2-3 percent gain followed by energy, infra and pharma, while IT index lost over 1 percent.

Rupee gains further: The Indian rupee is trading higher by 43 paise at 70.48 per dollar versus Friday's close 70.91.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-124-pts-higher-sensex-up-378-pts-auto-stocks-biggest-gainers-3607341.html

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