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

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

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

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

Opening Bell

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com

Closing Bell: Sensex ends higher, Nifty holds 11,500; PNB gains 3%

Market Close: Benchmark indices ended mixed after they remained range bound throughout Wednesday. 

The Sensex was up 23.28 points at 38386.75, while Nifty was down 11.40 points at 11521. About 1104 shares have advanced, 1532 shares declined, and 173 shares are unchanged. 

Indiabulls Housing, Hindalco Industries, Infosys, Dr Reddy’s Labs and Wipro were among major gainers, while losers include HPCL, Zee Entertainment, BPCL, NTPC and ONGC on the Nifty.

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

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-higher-nifty-holds-11500-pnb-gains-3-3669791.html

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

PNB climbs 3% after Nirav Modi's arrest in London

Punjab National Bank shares rallied 3 percent to close at Rs 93.55 on March 20 after reports of fugitive Nirav Modi getting arrested in London.

Modi, along with Mehul Choksi, is accused in Rs 14,000 crore fraud involving Punjab National Bank.

According to news agency PTI, the arrest came days after a London court issued an arrest warrant against him in response to a request by the Enforcement Directorate for his extradition in a money laundering case.

He will be produced at the Westminster magistrates' court on March 20.

The ED and the Central Bureau of Investigation (CBI) are investigating Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai that was unearthed in early 2018.

The stock lost nearly 70 percent from January 2018 to September 2018, followed by recovery in October 2018.

Source:https://www.moneycontrol.com/news/business/markets/pnb-climbs-3-after-nirav-modis-arrest-in-london-3673241.html

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

International Market Update:

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

Opening Bell

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com

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

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

Sensex opens more than 100 pts higher, Nifty around 11,400; Coal India falls

Market Opens: It is a strong start for the Indian indices on the last day of the week with Nifty around 11,400 level.

The Sensex is up 165.79 points at 37920.68, while Nifty is up 51.10 points at 11394.40. About 528 shares have advanced, 171 shares declined, and 33 shares are unchanged. 

Tech Mahindra, Indiabulls Housing, Gail, Eicher Motors, Dr Reddy's Lab, Kotak Mahindra, JSW Steel are the gainers on the indices, while losers led by Coal India, Bajaj Auro and UltraTEch Cement.

Rupee Opens: The Indian rupee opened flat at 69.33 per dollar on Friday versus 69.35 yesterday.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-opens-more-than-100-pts-higher-nifty-crosses-11400-coal-india-falls-3649211.html

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

MCX SUpport and Resistance Level

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com

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

If you need more information about the Stock Market:

 Visit: http://www.tradeindiaresearch.com

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

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

International Market Updates 28 Feb 2019

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

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

If you need more information about the Stock Market:

 Visit: http://www.tradeindiaresearch.com 

Closing Bell: Sensex, Nifty end a rangebound session flat; metal stocks outperform

Market Close: Benchmark indices ended flat on Friday after trading in narrow range throughout the day.

The Sensex was down 26.87 points at 35871.48, while Nifty was up 1.80 points at 10791.70. About 1602 shares have advanced, 906 shares declined, and 148 shares are unchanged. 

IOC, HPCL, JSW Steel, Vedanta and Yes Bank were the top gainers on the Nifty, while losers include Kotak Mahindra Bank, GAIL, HDFC Bank, Reliance Industries and Cipla.

Among the sectors, except energy and bank all other sectoral indices ended in green.

Source:https://www.moneycontrol.com/news/business/markets/sensex-nifty-end-a-rangebound-session-flat-metal-stocks-outperform-3570331.html

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

MCX Support and Resistance Levels

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com 

Indices close off day's low with Nifty above 10,700; metal, pharma stocks under pressure

Market at close: Benchmark indices registered strong recovery from the day's low point with Nifty able to close above 10,700 level.

The Sensex was down 67.27 points at 35808.95, while Nifty was down 21.60 points at 10724.40. About 911 shares have advanced, 1581 shares declined, and 136 shares are unchanged. 

BPCL, Power Grid, NTPC, GAIL and Bharti Infratel are the top gainers, while JSW Steel, Sun Pharma, Dr Reddy’s Labs, Indiabulls Hsg and Tata Steel are among major loser on the Nifty.

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

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-indices-close-off-days-low-with-nifty-above-10700-metal-pharma-stocks-under-pressure-3540771.html

If you need more information about the Stock Market:

 Visit: http://www.tradeindiaresearch.com 

Closing Bell: Sensex ends 119 pts lower, Nifty below 10,800; Eicher Motors slides 5%

Market at close: Benchmark indices erased all its intraday gains and ended in red on the back of last hour selling pressure. 

The Sensex was down 119.51 points at 36034.11, while Nifty was down 37.70 points at 10793.70. About 968 shares have advanced, 1544 shares declined, and 128 shares are unchanged. 

Adani Ports, Indiabulls Housing, UPL, Tata Motors and HDFC were the top gainers on the Nifty, while losers included Eicher Motors, IOC, HPCL, GAIL and ONGC.

Except IT index, all other sectoral indices closed in red led by Nifty PSU bank, infra, energy, auto, pharma and metal.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-119-pts-lower-nifty-below-10800-eicher-motors-slides-5-3525251.html

If you need more information about the Stock Market:

 Visit: http://www.tradeindiaresearch.com 

Berger Paints Q3FY19 review: Volume drives topline, but crude prices hurt margins

Highlights:

- Q3 volume growth was strong at nearly 14-15 percent
- Festive demand aided topline growth
- Management expects margins to recover in Q4
- Competitive intensity to increase going forward

- Valuations offer little upside from current levels

India’s second-largest decorative paints company reported better-than-expected Q3FY19 topline. Volume growth was in high teens, at par with its larger peer Asian Paints. Operating margins, however, contracted as high crude oil prices expanded the cost base. The company appears to be on a secular growth path as it continues to grow faster than the industry, gaining market share from smaller and unorganised players.

Key Q3 positives

- Topline growth of 21 percent was driven by strong volume growth. The decorative volume growth estimates for the quarter stood at nearly 14 percent as strong consumer demand during the festive season along with a favourable base (timing of Diwali) aided the sales growth in October-December period.

- Operating profit margins recovered sequentially with successive price hikes partially alleviating the crude-oil and currency-related pressures. However, high-cost inventory kept margins under pressure on YoY basis.

- Apart from strong demand in the decorative business, there was decent traction in industrials, Nepal decorative business, and Saboo Coatings.

- The management expects a recovery in Q4 margins from softening crude prices and rupee stabilisation against the dollar.

Source: https://www.moneycontrol.com/news/business/moneycontrol-research/berger-paints-q3fy19-review-volume-drives-topline-but-crude-prices-hurt-margins-3491201.html

If you need more information about the Stock Market:

 Visit: http://www.tradeindiaresearch.com

Budget 2019: Big relief for aam aadmi! FM Goyal gives tax rebate on income up to Rs 5 lakh

Image Source: Financialexpress.com

Interim Finance Minister Piyush Goyal has given some relief to the income taxpayers. Union Budget2019 has proposed to offer a tax rebate for individuals earning up to Rs 500,000. The rebate under Section 87A of the Income Tax Act has been enhanced to Rs 12,500 from Rs 2,500 earlier. The threshold has also been enhanced to income of Rs 5 lakh from Rs 3.5 lakh earlier. This will benefit taxpayers only to the extent of an annual income of Rs 5 lakh. The basic exemption limit and tax-slabs remain the same.

The last time basic exemption limit was raised by Rs 50,000 by Finance Minister Arun Jaitley while presenting Budget 2014. At that the time, the tax rates were left untouched.

Last year while presenting Budget 2018, Finance Minister Arun Jaitley had re-introduced the standard deduction of Rs 40,000 in lieu of medical reimbursement and transport allowance. It was done with the intention to reduce administrative hassles for salaried individuals. In budget 2019, standard deduction too has been enhanced to Rs 50,000. The increase in basic exemption limit benefits all income taxpayers.

Source:https://www.moneycontrol.com/news/business/budget-2019-big-relief-for-aam-aadmi-fm-goyal-gives-tax-rebate-on-income-up-to-rs-5-lakh-3464021.html

If you need more information about the Stock Market:

 Visit: http://www.tradeindiaresearch.com