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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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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March auto sales may be mixed amid high inventory, but these 2 stocks remain brokerages top picks

Automobile sales in March are expected to be mixed for the sixth consecutive month, citing high inventories, rising ownership cost and deferred purchases during general elections, brokerages said.

Passenger vehicles and two-wheeler sales are expected to be a mixed bag, while the commercial vehicle segment is expected to register weak growth during the month.

In a recent report, Emkay said channel checks indicate rising ownership cost, deferred purchases during elections and selective financing by non-banking financial companies (NBFCs) are constraining volume performance across the automotive segments in the near term.

In the last one year, the sector has been worst performer, with the Nifty Auto index falling nearly 24 percent, amid a liquidity crisis and weak festive season. In March itself, the index was down 1.5 percent as against a seven percent rally in the Nifty.

Motherson Sumi Systems (down 10 percent), Hero MotoCorp (4 percent), Tata Motors (4 percent), Bharat Forge (3.6 percent) and Maruti Suzuki (3.4 percent) were top losers during the month.

Emkay forecasts mixed domestic volumes in March, with growth in passenger vehicles but muted showing in other segments.

Motilal Oswal too expects the same. "While demand for passenger vehicles is partially supported by new launches, the same for commercial vehicle has been declining over the past two months due to weak demand from major end-user segments."

Passenger vehicles

Emkay said passenger vehicle volumes are expected to be positive in the domestic market, with nine and four percent growth for Mahindra & Mahindra and Tata Motors, respectively.

But Maruti Suzuki, the largest car maker, is expected to post a 11.5 percent year-on-year decline in total despatches in March due to weak demand trends in the key western, central and northern markets such as Maharashtra, Gujarat, Delhi and Madhya Pradesh, leading to continued high inventory levels, Motilal Oswal said, adding that dealer inventory stands at 45-60 days.

Two-wheelers

Sales in the two-wheeler segment are expected to be a mixed bag, with declines in Eicher Motors and Hero MotoCorp and growth seen in Bajaj Auto.

Emkay expects Eicher Motors and Hero MotoCorp to report a 12 percent and six percent decline in sales, while Bajaj Auto will post a 16 percent growth YoY.

The research house said competitive intensity has increased as a result of free insurance schemes by Hero MotoCorp and Bajaj Auto.

Dealer inventory days have significantly increased over the past few months and have reached historically high levels. Hero MotoCorp has the highest dealer inventory days at around three months, followed by two months for Bajaj Auto and TVS Motor Company, and one month for Royal Enfield.

After the gloom in January and February, Motilal Oswal said key channel partners are indicating weak retail sales across key markets in March too.

Source:https://www.moneycontrol.com/news/business/markets/march-auto-sales-may-be-mixed-amid-high-inventory-but-these-2-stocks-remain-brokerages-top-picks-3725911.html

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What makes this smallcap a good value buy?

Himatsingka Seide (HSL), one of India’s largest home textile majors and exporters, draws our attention on account of improving business fundamentals. Conclusion of capex cycle by H1 FY20, higher contribution from branded products, an uptick in utilisation rates and undemanding valuations make us bullish on the stock.

Q3 review

Positives

- Sales grew on the back of higher contribution from branded products (84 percent of Q3 sales)

- Gross and operating margins expanded noticeably because of a good product mix and full benefits of captive consumption (ie. yarn being utilised to manufacture bed sheets)

Negatives

- Forex losses resulted in other income declining sharply year-on-year (YoY)

- Depreciation and interest costs rose significantly YoY due to investments in the terry towel plant

- Tax rate increased marginally YoY

- The above factors led to a marginal reduction in PAT (profit after tax) margins

Why consider investing?

Capex intensity is waning

By September 2019, HSL’s terry towel facility is likely to be set up. Post this, barring regular maintenance capital expenditure, there is no big expansion plan.

Depreciation and financing charges, that rose noticeably in the past 4 quarters due to investments in the terry towel project, are likely to reduce from H2 FY20 onwards. This is because impetus will be laid on debt repayment. Consequently, bottom-line margins, working capital cycle and cash flows should improve.

Utilisation rates are likely to go up

In Q3 FY17, HSL expanded its bed sheet manufacturing capacity from 23 mmpa (million metres per annum) to 46 mmpa. Utilisation levels in respect of both (ie. original and new capacity) are stable at the moment. As the company’s order book (particularly for branded products) grows, there will be a corresponding uptick in manufacturing activities. This, in turn, should help achieve operating leverage.

Debottlenecking of bed sheet manufacturing capacity has been concluded in Q3 FY19, thereby resulting in an increase in capacity to the tune of 15 mmpa. This new capacity will be utilised for manufacturing products that yield lower realisations, implying that sales growth, to this extent, will be volume-driven.

Once the terry towel facility becomes operational, utilisation levels should start moving up too.

Sale of branded products on an uptrend

In 9M FY19, brands constituted about 85.6 percent of the top-line as against 71 percent in FY18. HSL’s own brands are making their presence felt in the financials.

HSL will complete integration of manufacturing processes of the Tommy Hilfiger brand by Q4 FY19-end.

Rights to sell ‘Calvin Klein Home’ products globally have been acquired. Previously, HSL could sell products only in North America.

Since branded products, especially own brands and fashion bedding variants, command better realisations vis-a-vis their unbranded counterparts, HSL’s margins should start moving up gradually.

Risks

To mitigate risks associated with regional concentration, HSL is exploring markets in Europe and Asia. Nevertheless, at the moment, the US market alone comprises nearly 85-90 percent of HSL’s annual top-line. Therefore, Trump’s actions of withdrawing the preferential trade treatment granted to Indian exporters may affect the company’s future revenue visibility.

Indian Rupee’s appreciation vis-à-vis the US dollar would impact product realisations to the extent of unhedged cash flows. Raw material (cotton) costs are not showing any signs of moderation as of now.

Competitive pressure from nations such as Pakistan, Vietnam and Bangladesh continues to persist.

Signs of consumption slowdown in international markets can hit the order book.

Outlook

HSL’s stock price has been on a downward spiral during the course of the last 12 months. This is primarily on account of market volatility and YoY dip in PAT (profit after tax) margins since the last 3 quarters.

After a sharp 47 percent correction from its 52-week high, the stock trades at an undemanding 6.7 times its FY21 projected earnings. This makes it a good value buy.

However, it is pertinent to note that any meaningful re-rating in HSL’s valuation multiples may be seen only from H2 FY20.

Source:https://www.moneycontrol.com/news/business/moneycontrol-research/ideas-for-profit-what-makes-this-smallcap-a-good-value-buy-3724171.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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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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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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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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Closing Bell: Nifty ends above 11,450, Sensex gains 70 points; OMCs gain

Market close: The last hour buying helped the market to end higher on Monday with Nifty finished above 11,450 level.

At the close, the Sensex was up 70.75 points at 38095.07, while Nifty was up 35.30 points at 11462.20. About 1132 shares have advanced, 1545 shares declined, and 173 shares are unchanged. 

HPCL, IOC, Bajaj Finance, BPCL and JSW Steel were the top gainers on the Nifty, while losers include Maruti Suzuki, Hero Motocorp, Wipro, Bharti Airtel and HCL Tech.

Among the sectors, IT and auto index remained under pressure throughout the day as they slipped 1 percent each, while some buying was seen in the metal, energy, FMCG and bank names.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-above-11450-sensex-gains-70-points-omcs-gain-3656321.html

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US oil retreats from 2019 high on soaring production

US crude futures eased slightly on March 15 after hitting a 2019 high, as worries about the global economy and robust US production put a brake on prices.

West Texas Intermediate (WTI) crude oil futures settled down 9 cents at $58.52 a barrel, having hit their highest so far this year at $58.95.

Brent crude futures settled down 7 cents at $67.16 a barrel, below their 2019 peak of $68.14 reached on March 14.

US crude ended the week 4.1 percent higher, and Brent was up 1.9 percent.

"The market is taking a pause as it tries to digest mixed reports that give us different ideas of future supply and demand," said Phil Flynn, an analyst at Price Futures group in Chicago. "The OPEC-plus meeting could give us a little direction," he said.

The Organization of the Petroleum Exporting Countries and its allies including Russia, an alliance known as OPEC+, agreed last year to cut production, partly in response to increased U.S. shale output.

OPEC+ ministers will meet on April 17-18 to decide production policy.

"If OPEC+ decide to extend (cuts) ... we expect that inventories will continue to draw through at least Q3," US investment bank Jefferies said.

The International Energy Agency said on March 15 that the market could show a modest surplus in the first quarter of 2019 before flipping into a deficit in the second quarter by about 0.5 million barrels per day (bpd).

It said a comfortable supply cushion by OPEC could prevent any price rally in case of possible disruptions and that non-OPEC oil output growth led by the United States should ensure demand is met.

US energy firms this week reduced the number of oil rigs operating for a fourth week in a row, with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts.

Drillers cut one oil rig in the week to March 15, bringing the total count down to 833, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely-followed report on Friday.

Oil price gains have been limited by concerns that an economic slowdown that has gripped large parts of Asia and Europe will dent growth in fuel demand.

But oil consumption has held up so far.

Crude oil use in China, the world's biggest importer, in the first two months of 2019 rose 6.1 percent from a year earlier to a record 12.68 million bpd, official data showed this week.

Goldman Sachs said growth in global demand for crude in January was "nearly 2.0 million barrels per day, with strength visible in both emerging markets and developed economies."

Source:https://www.moneycontrol.com/news/business/commodities/us-oil-retreats-from-2019-high-on-soaring-production-3653221.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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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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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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February keeps up box office momentum in 2019 with business of over Rs 300 crore

While January set the pace for Bollywood in 2019 with collections in the range of Rs 300- Rs 350 crore, February is maintaining the momentum with revenues to the tune of Rs 310 crore. And this is despite no holiday advantage and an added pressure of school examinations.

The month saw films like multi-starrer comedy flick Total Dhamaal and musical drama Gully Boy scoring high at the box office. For the Ranveer Singh-starrer Valentine's Day boosted the film's growth with the film having all the ingredients to attract the young audience.

On the day of love the film grabbed as much as Rs 19.40 crore which is close to 20 percent of the film's week one total. The right content at the right time helped Gully Boy enter the Rs 100 crore club in eight days.

On the other hand, the third installment in the Total Dhamaal franchise clicked with the family audience and managed Rs 99.30 crore in its first week.

Film trade experts are confident that Total Dhamaal will cross Rs 100 on day nine. Its overseas total also stands strong with a business of Rs 30.95 crore in seven days of its release.

While the film faced strong competition from the new release Luka Chuppistarring Kartik Aaryan and Kriti Sanon on day eight, it is still gathering steam.

Looking at Total Dhamaal's solid hold in theatres, film trade analyst Taran Adarsh said that contribution from mass pockets and single screens should not be overlooked and more movies that hold pan-India appeal should be made to expect ache din for trade.

With Total Dhamaal maintaining its rhythm and Luka Chuppi packing up strong revenues, it looks like the genre of comedy will keep the entertainment quotient high even in the month of March.

The other two releases during this month Amavas and Ek Ladki ko Dekha toh Aisa Laga did not contribute much to the overall collections as the former added only Rs 2.85 crore and the latter earned Rs 20 crore.  

But the month had something interesting to celebrate and that was Uri: The Surgical Strike trending even in its seventh week. The spillover effect of Uri added around Rs 66 crore to the grand total and the film yet shows no signs of slowing down despite competition from new releases and holdovers.

Down south a handful of films kept the audience entertained. Out of 10 releases from Tamil and Telugu industries together, RJ Balaji-starrer LKG made waves at the box office.

Reports estimate the film’s collection from the Tamil Nadu market at around Rs 10 crore and worldwide numbers at Rs 16 crore. LKG opened in theatres on February 22.

Telugu film NTR Mahanayakudu despite receiving positive reviews from critics could not hold strong at the box office. Its business in Andhra Pradesh and Telangana market remained disappointing as it could gather Rs 304 lakh by the end of four days of its theatrical run in the two territories.  

As for Hollywood, February saw some decent business coming from James Cameron’s Alita: The Battle Angelthat minted over Rs 8 crore total in India. However, it will be Captain Marvel that will up the interest amid the fan-base for Hollywood films in India.

Source:

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Nifty around 10,850, Mid-Smallcap indices strong; SAIL rallies 8%

Market Opening:

Benchmark indices started off last day of the week on a strong note after three-day fall. Likely de-escalation between India and Pakistan after Pakistan Prime Minister announced that his country will release captured IAF Wing Commander lifted sentiment.

The 30-share BSE Sensex rallied 223.53 points to 36,090.97 and the Nifty50 rose 63.80 points to 10,856.30 on first day of March series.

Rupee Opening:

The Indian rupee has opened marginally lower at 70.74 against the US dollar, against Thursday's close of 70.72 a dollar.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-around-10850-mid-smallcap-indices-strong-sail-rallies-8-3597211.html

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 Visit: http://www.tradeindiaresearch.com 

Indices trade flat with a positive bias; TechM approves buyback at Rs 950/sh

Market Opens: It is flat start for the benchmark indices on Thursday with Nifty hovering around 10,750 mark

The Sensex is up 7.59 points at 35763.85, while Nifty is down 5.30 points at 10730.20. About 428 shares have advanced, 333 shares declined, and 42 shares are unchanged. 

Tech Mahindra, Allahabad Bank, ICICI Bank, SBI, Indiabulls Housing, are among major gainers, while losers are Reliance Power, BPCL, HPCL, IOC, Bharti Airtel, Vodafone Ida, TCS and Yes Bank.

Tech Mahindra to BSE: Approved the proposal for buyback by the Company of its own fully paid equity shares of Rs 5 each not exceeding 20,585,000 equity shares. The record date will be March 6, 2019 at an offer price of Rs 950 for an aggregate amount not exceeding Rs 1,956 crore. 

Rupee Opens: The Indian rupee opened marginally higher at 71.07 per dollar on Thursday versus previous close 71.11.

Source:https://www.moneycontrol.com/news/business/markets/market-live-indices-trade-flat-with-a-positive-bias-techm-approves-buyback-at-rs-950sh-3565841.html

If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com