Closing Bell: Nifty ends flat, Sensex up 89 points; L&T, Axis Bank top gainers

Market at close: Benchmark indices ended higher for the fourth consecutive day with Nifty closed around 11,050 level.

The Sensex was up 89.32 points at 36725.42, while Nifty was up 5.20 points at 11058.20. About 1287 shares have advanced, 1349 shares declined, and 159 shares are unchanged.

L&T, M&M, Axis Bank, ITC and Power Grid Corp were the top gainers on the Nifty, while losers include Wipro, IOC, Coal India, Zee Entertainment and Sun Pharma.

Among the sectoral indices, IT, metal, auto and pharma witnessed selling pressure, while some buying was seen in the bank, FMCG and infra sectors.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-flat-sensex-up-89-points-lt-axis-bank-top-gainers-3616981.html

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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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Aluminium futures slip 0.31% on muted demand

Aluminium prices fell 0.31 percent to Rs 145.20 per kg in futures trade on Wednesday as speculators cut down their positions, taking negative cues from the spot market on muted demand.

At the Multi Commodity Exchange, aluminium for delivery in March declined by 45 paise, or 0.31 percent, to Rs 145.20 per kg in a business turnover of 2,284 lots.

Likewise, the metal for delivery in April fell by 60 paise, or 0.41 percent, to Rs 145.35 per kg in 137 lots.

Analysts said, cutting down of positions by traders owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.

Source:https://www.moneycontrol.com/news/business/markets/aluminium-futures-slip-0-31-on-muted-demand-3614381.html

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Oil falls on weak demand growth outlook; OPEC-led cuts support

Oil prices fell on Tuesday as markets eyed only modest prospects for growth in fuel demand, although OPEC-led efforts to cut output still offered some support.

U.S. West Texas Intermediate (WTI) crude oil futures were at $56.30 per barrel at 0210 GMT, down 29 cents, or 0.5 percent, from their last settlement.

Brent crude futures were at $65.36 per barrel, down 31 cents, or 0.5 percent.

"Near term ... it is hard to get very bullish on oil prices. The market is still working off the surpluses built in H2 2018, keeping OECD commercial inventories stuck above the five-year average," said energy analysts at economic research firm TS Lombard.

And despite optimism that the United States and China will soon end their bitter trade disputes, oil demand growth has been slowing along with an economic slowdown especially in Europe and Asia.

Meanwhile, fuel efficiency is improving, denting demand growth.

"2018 was the weakest (refined product) demand growth year since 2011," Bank of America Merrill Lynch said in a note.

To prop up the market, the Organization of the Petroleum Exporting Countries (OPEC) has led efforts since the start of the year to withhold around 1.2 million barrels per day (bpd) of supply.

The group was due to decide in April whether to continue withholding supply, but OPEC sources said this week a decision would likely be delayed until June, meaning cuts will continue at least until then.

The OPEC-led supply cuts, as well as U.S. sanctions against its members Iran and Venezuela, come at the same time as U.S. crude output chases ever new records, rising by more than 2 million barrels per day (bpd) since early 2018 and above 12 million bpd for the first time in February.

The cuts to OPEC supply have pushed up the Brent international crude price benchmark due to a shortage of the heavy crudes that OPEC mostly produces. At the same time, the surge in U.S. output is weighing down U.S. WTI prices as there is ample supply of America's mainly light crudes.

Because of this, energy researchers at TS Lombard said "the Brent-WTI spread can be expected to stay wide."

WTI's front-month price spread to Brent has declined from near parity in 2016 to an average discount of $8.50 per barrel since the start of 2019.

During the same time, U.S. crude output has risen by almost 3 million bpd.

Source:https://www.moneycontrol.com/news/business/markets/oil-falls-on-weak-demand-growth-outlook-opec-led-cuts-support-3607431.html

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Closing bell: Nifty snaps 3-day fall, Sensex gains 196 pts; Midcap, Smallcap indices outshine

The market snapped its three-day losing streak and closed half a percent higher, but the broader markets staged smart show on strong breadth.

The 30-share BSE Sensex rallied 196.37 points to 36,063.81 and the Nifty50 gained 71 points at 10,863.50.

About three shares advanced for every share falling on the BSE.

IndusInd Bank, ICICI Bank, HDFC, L&T and Infosys were leading contributors while Bharti Airtel, Axis Bank, UPL and Bajaj Auto were under pressure.

Among broader space, TVS Motor Company, Jet Airways, NALCO, Union Bank, Vijaya Bank, SAIL, RCF, Wockhardt, Dish TV, Meghmani Organics and OBC rallied 4-11 percent.

Marico, Motherson Sumi and Havells India were under pressure.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-snaps-3-day-fall-sensex-gains-196-pts-midcap-smallcap-indices-outshine-3597211.html

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International Market Update (1 March 2019)

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International Market Updates 28 Feb 2019

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Nifty above 10,800, Sensex up 100 pts; IOC, Sun Pharma top gainers

Market Opens: It is a strong start for the indices on Thursday with Nifty trading around 10,850 level.

At 09:18 hrs IST, the Sensex is up 139.66 points at 36045.09, while Nifty is up 40.90 points at 10847.60. About 525 shares have advanced, 138 shares declined, and 33 shares are unchanged. 

Tata Metaliks, Future Retail, Yes Bank, Tata Motors, Coal India, Adani Ports, Quick Heal, Motherson Sumi, Balrampur Chini, Maruti Suzuki are among major gainers on the indices, while losers are ONGC, Wipro, Indiabulls Housing, Jet Airways, Odisha Cement, TCS and HCL Tech.

All the sectoral indices are trading in green led by PSU bank, auto, energy and FMCG.

Rupee Opens: The Indian rupee opened lower at 71.26 per dollar on Thursday versus Wednesday's close 71.22.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-above-10800-sensex-up-100-pts-ioc-sun-pharma-top-gainers-3591771.html

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MCX Support and Resistance Level (27 Feb 2019)

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Geopolitical tensions drag Nifty below 10,800 at open, Sensex falls 200 pts; banks under pressure

Market Opens: The geopolitical tension on Indo-Pak border has pulled the Nifty below 10,800 in the opening trade, while Sensex is down over 200 points.

The Sensex is down 241.49 points at 35971.89, while Nifty is down 81.60 points at 10798.50. 
About 171 shares have advanced, 780 shares declined, and 41 shares are unchanged. 

Top gainers are Bharti Infratel, Asian Paints and HCL Tech, while losers include Yes Bank, SBI, Indiabulls Housing, JSW Steel, Hero Moto, ONGC, ICICI Bank, Hindalco, Vedanta, Bajaj Fiance and Rain Industries, Jet Airways and Spicejet.

Rupee Opens: The Indian rupee slipped in the early trade on Tuesday. It opened lower by 28 paise at 71.26 per dollar versus previous close 70.98.

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Positive start for indices with Sensex up over 100 pts; Adani Ports falls 4%

Market Opens: It is positive start for the benchmark indices on Monday with Sensex is trading around 36,000 level.

At 09:18 hrs IST, the Sensex is up 124.38 points at 35995.86, while Nifty up 27.00 points at 10818.70. About 600 shares have advanced, 226 shares declined, and 43 shares are unchanged. 

Indiabulls Housing, JSW Steel, Yes Bank, Maruti Suzuki, Hero Moto, Tech Mahindra, Tata Steel, DLF, Sobha, Oberoi realty, Sunteck Realty, GVK Power, Reliance Capital, Godrej Properties are among major gainers on the indices, while losers are Adani Port, Mindtree, Jet Airways, IIFL Holding and Motilal Oswal.

Rupee Opens: The Indian rupee gained in the early trade on Monday. It opened higher by 12 paise at 71.02 per dollar versus previous close 71.14.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-positive-start-for-indices-with-sensex-up-over-100-pts-adani-ports-falls-4-3577531.html

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PM Modi sees India as $10-trillion economy with countless startups

Prime Minister Narendra Modi on Sunday laid out his vision for making India a USD 10-trillion economy, and the third-largest in the world, saying he wants the nation to have countless startups, and be a global leader in electric vehicles.

Speaking at the Global Business Summit here, he said his government inherited an economy in complete policy paralysis, plagued by runaway inflation and rising current account deficit.

Reforms in the last four and half years have changed the picture. "Change is clearly visible today," he said.

BJP-led NDA rule witnessed highest post-liberalisation growth rate of 7.4 percent, and lowest inflation of less than 4.5 percent, he said adding that reforms like goods and services tax (GST) have laid solid foundation for higher gross domestic product (GDP) growth.

Source:https://www.moneycontrol.com/news/business/economy/pm-modi-sees-india-as-10-trillion-economy-with-countless-startups-3574701.html

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Kotak Mahindra Bank falls over 4% on block deals; ING may have sold stake

Kotak Mahindra Bank shares fell over 4 percent in morning trade as 8.3 crore shares worth Rs 10,307 crore traded on both indices.

"5.87 crore shares (3% stake) equity trade in multiple blocks. ING may have sold stake in Kotak Mahindra Bank via block deal," said CNBC-TV18.

There were media reports which suggested that ING Mauritius Investments is likely to sell 1.2 percent in Kotak Mahindra Bank (KMB) via block deal at ~3-5 percent discount.

ING Group may sell 23 lakh shares, or 1.20 percent equity, at the price of Rs 1,125-1,250 per share, said multiple media reports.

On February 21, the Kotak Mahindra stock closed marginally lower at Rs 1,288.90 on the BSE.

ING Group merged its banking unit, ING Vysya Bank, with Kotak Mahindra Bank in November 2014. After the deal, the former held 6.5 percent stake in the merged entity, but offloaded some its stake later.

At 10:00 hrs, the Kotak Bank stock was trading at Rs 1,242, down 46.90 points or -3.64%, on the BSE.

Source:https://www.moneycontrol.com/news/business/markets/kotak-mahindra-bank-falls-over-4-on-block-deals-ing-may-have-sold-stake-3570881.html

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