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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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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Nifty around 11,500, Sensex up over 100 points; IT stocks lead

Market Opens: It is good start for the Indian indices on Thursday with Nifty above 11,450 level.

At 09:17 hrs IST, the Sensex is up 36.12 points or 0.09% at 38169, and the Nifty up 10.50 points or 0.09% at 11455.50. About 510 shares have advanced, 281 shares declined, and 31 shares are unchanged. 

Zee Ent, HCL Tech, Tech Mahindra, Infosys, Indiabulls Housing, Yes Bank, HPCL, BPCL, IOC, GAIL, Eicher Motors are among major gainers, while losers are Tata Motors, ONGC, JSW Steel, IndusInd Bank, Power Grid, Cipla, HDFC Bank and Tata Steel.

Except metal, auto and pharma, all other sectoral indices are trading with marginal gain.

Rupee Opens: The Indian rupee opened lower by  24 paise at 69.11 per dollar on Thursday versus previous close 68.87.

Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-around-11500-sensex-up-over-100-points-it-stocks-lead-3714661.html

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Nifty Bank at record high; HDFC Bank, RBL Bank hit 52-week highs

The Bank Nifty hit an all-time high on March 27 as the rally in banking stocks continued for the second consecutive day.  The index surpassed its previous record high of 30,008 registered on March 22 and hit a fresh intraday high of 30,129.25 in the morning trade.

The rally was led by IndusInd Bank (up 3.8 percent), followed by RBL Bank (up 1.86 percent), Yes Bank (up 1.5 percent), PNB (up 1.3 percent), and Bank of Baroda (up 1 percent).

As many as two stocks in the Nifty Bank hit a fresh 52-week high. HDFC Bank surged to Rs 2,328.05, and RBL Bank rose to Rs 667.80 intraday on March 27.

Most experts feel that the rally is here to stay and investors can remain net long in the index with an initial target of 30,250. The support is seen at 29,500.

Source:

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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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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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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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Bank Nifty gains 10% in March: Here's what is driving the rally in banking stocks

Banking and financial services stocks have been key drivers of the current rally that has led benchmark indices to fresh six-month highs. The up move has been fuelled by hopes of Modi's return at the Centre and renewed FII inflow.

Bank Nifty has rallied 10 percent in March so far and financial services index has climbed around 8 percent in comparison to Nifty's over 5 percent gain.

Index constituents Punjab National Bank, Bank Of Baroda, IndusInd Bank, IDFC First Bank, ICICI Bank, RBL Bank and SBI have rallied 10-20 percent during the current month.

Meanwhile, Kotak Mahindra Bank, Federal Bank, HDFC Bank, Yes Bank and Axis Bank have gained 5-9 percent.

Source:https://www.moneycontrol.com/news/business/markets/bank-nifty-gains-10-in-march-heres-what-is-driving-the-rally-in-banking-stocks-3649921.html

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Investor wealth up Rs 8 lk cr in March as FII inflows get a boost, Street expects Modi return

The benchmark index, S&P BSE Sensex, fell for nine consecutive days last month from February 7 to 19. Given the somber sentiment on the Street at that time, no one could have thought that the index would rally 2,248 points in the next 14 sessions.

Thanks to the strong rally in past few sessions, the market capitalisation (m-cap) of BSE-listed companies rose by Rs 12 lakh crore as on March 12 to Rs 148.20 lakh crore from Rs 136.24 lakh crore as recorded on February 19 when the index made a bottom of 35,287.

In March alone, m-cap of BSE-listed companies has risen by Rs 7.79 lakh crore.

Both Sensex and Nifty have risen above their crucial resistance levels to hit 6-month highs, thanks to liquidity push from foreign institutional investors (FIIs), and expectations of Modi 2.0 in the upcoming Lok Sabha elections to be held from April 11 to May 19.

“Before the Pulwama attack, there was uncertainty about the formation of next government. The way government has handled the situation increased the probability of BJP coming back to power,” Rusmik Oza, Head of Fundamental Research, Kotak Securities told Moneycontrol.

“Market is sensing a BJP victory after the Pulwama event and developments that have taken place since then. In the last three months, activity in emerging markets has improved with improved flows,” he said.

One big factor that is pushing the market higher is massive liquidity push seen from foreign institutional investors (FIIs) so far in March and February. FIIs have poured a little over Rs 10,000 crore in Indian equities till March 12.

FPIs were net buyers (equity and debt) in February as well as January 2019 for Rs 13,564 crore and Rs 127 crore, respectively. Experts feel that with FII flows resuming and domestic investors getting comfortable with the political developments, a host of beaten-down largecaps, mid and smallcaps are doing catch-up now.

“FIIs are continuously buying quality names that we saw in recent block deals of Kotak Bank, Wipro, etc. With stability in INR and supportive macros and micros can expect similar or better flow in the near term,” Yogesh Mehta, VP, Retail Research, Motilal Oswal Securities told Moneycontrol.

“Lower inflation, lower interest rates, stronger rupee and stable crude prices are the support for India’s economy whereas global markets are worrisome over the growth slowing down, Brexit and tariff war between US and China, which indicates Indian markets are decoupled due to the election in the centre stage,” he said.

Mehta further added that the recent air strike in Balakot has increased the popularity of Modi and markets have started projecting better performance of the ruling party in the coming election.

Source:https://www.moneycontrol.com/news/business/markets/investor-wealth-up-rs-8-lk-cr-in-march-as-fii-inflows-get-a-boost-street-expects-modi-return-3636791.html

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Sensex gains 100 pts, Nifty above 11,300; IT stocks in focus

Market Opens: It is a flat start for the Indian indices on Wednesday with Nifty below 11,300 level.

The Sensex is down 26.84 points at 37508.82, while Nifty is down 15.20 points at 11286. About 585 shares have advanced, 486 shares declined, and 33 shares are unchanged. 

Interglobe Aviation, Apollo Tyres, Nestle, Eicher Motors, RIL, Wipro, ITC, HUL, Infosys are among major gainers on the indices, while losers are IOC, HPCL, Vedanta, JSW Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, Allahabad Bank, Oil India and ONGC.

On the sectoral front, auto, bank, infra and metal indices are witnessing selling pressure, while FMCG ad IT indices are trading with marginal gains.

Rupee Opens: The Indian rupee opened marginally lower at 69.74 per dollar on Wednesday against previous close 69.70.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-gains-100-pts-nifty-above-11300-it-stocks-in-focus-3639631.html

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Nifty above 11,100, Sensex gains 200 pts; ONGC jumps 2%

Market opens: It is a positive start for the indices on Monday with Nifty inching towards 11,100 mark.

The Sensex is up 212.54 points at 36883.97, while Nifty up 68.90 points at 11104.30. About 739 shares have advanced, 208 shares declined, and 53 shares are unchanged. 

Sadbhav Infra, GMR Infra, Jet Airways, Dilip Buildcon, SBI, ONGC, IOC, Titan, Dr Reddy’s Lab, Bharti Infratel, JSW Steel, Hero Moto, are some of the gainers on the indices, while lowers are Kotak Mahindra Bank, CG Power, Reliance Infra, TCS, Nalco and REC.

All the sectoral indices are trading in green.

Rupee Opens: The Indian rupee gained in the early trade on Monday. It has opened higher by 14 paise at 70.01 per dollar versus previous close 70.15.

Source:https://www.moneycontrol.com/news/business/markets/market-live-sgx-nifty-indicates-flat-start-for-indian-indices-3629741.html

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Closing bell: Nifty holds 11,000 on a rangebound day, Sensex marginally lower

The market closed off its lows amid rangebound session due to lack of cues.

The 30-share BSE Sensex was down 53.99 points at 36,671.43 and the Nifty50 fell 22.80 points to 11,035.40.

Tata Motors, Wipro, HCL Technologies, Tata Steel, Hindalco and Maruti Suzuki were down 1-4 percent while Bajaj Auto and Eicher Motors gained over a percent each.

The broader markets also ended in the red. Nifty Midcap index was down 0.2 percent.

Arvind was down 5 percent, but its subsidiary Arvind Fashions rallied 5 percent on day 1.

Dish TV, Jain Irrigation, Firstsource and Reliance Infrastructure were down 2-4 percent. However, Granules India, Gujarat Gas, Just Dial, ICICI Prudential and Reliance Nippon gained 3-7 percent.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-holds-11000-on-a-rangebound-day-sensex-marginally-lower-3622361.html

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Sensex falls 100 pts, Nifty around 11k; Tata Motors slips 3%

Market Opens: It is a weak start for the indices on the last day of the truncated week with Nifty below 11,050 level.

The Sensex is down 6.09 points at 36719.33, while Nifty is down 14 points at 11044.20. About 560 shares have advanced, 404 shares declined, and 61 shares are unchanged.

Wipro, Tata Motors, Tata Steel, Hindalco, Vedanta, Asian Paints, Maruti Suzuki, are among major gainers on the indices, while losers are M&M, ITC, HUL, Jet Airways, DHFL, Ashok Leyland and Bharti Infratel.

Among the sectors, auto, bank, metal and IT are trading lower, while FMCG, infra and pharma are witnessing some buying.

Rupee Opens: The Indian rupee opened lower by 17 paise at 70.17 per dollar on Friday versus previous close 70.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-falls-100-pts-nifty-around-11k-tata-motors-slips-3-3622361.html

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