Nifty ends above 11,150, Sensex gains 382 pts; metal stocks outperform

Market at close: Indices ended on strong note on Monday as bulls took charge of the Dalal Street with Sensex closed above 37,000, while Nifty finished above 11,150 mark.

The Sensex was up 382.67 points at 37054.10, while Nifty was up 132.60 points at 11168. About 1735 shares have advanced, 911 shares declined, and 163 shares are unchanged. 

Bharti Airtel, HPCL, BPCL, Eicher Motors and Bharti Infratel were the top gainers on the Nifty, while losers include NTPC, Zee Entertainment, TCS, Tech Mahindra and HCL Tech.

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

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-above-11150-sensex-gains-382-pts-metal-stocks-outperform-3629741.html

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MCX SUpport and Resistance Level

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Opening Bell

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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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Maruti Suzuki dips 1% after Kotak downgrades, cuts price target

Maruti Suzuki India shares fell a percent intraday on Friday after Kotak Institutional Equities downgraded its rating on the stock to add from buy earlier.

The research house also slashed price target to Rs 7,500 from Rs 7,600 apiece after cut in earnings per share estimates.

The stock was quoting at Rs 6,978.50, down Rs 52.15, or 0.74 percent on the BSE, at 15:10 hours IST.

The brokerage house said the domestic passenger vehicle (PV) industry is likely to grow in low single digit (6 percent CAGR over the next two years) due to increase in costs related to stricter safety and emission regulations.

"While Maruti is better-placed and will gain market share, we cut EPS estimates by 4-9 percent for FY2019-21 mainly driven by cut in volume estimates (lower industry growth assumptions) and EBITDA margin forecasts (factoring in lower operating leverage and higher costs related to safety regulations in entry-level models), it added.

The brokerage expects Maruti Suzuki to increase its market share in the passenger vehicle industry in India by 290 bps over FY2019-23 led by a shift in consumer preference towards petrol vehicles against diesel, especially in compact SUV and compact car segments.

Source:https://www.moneycontrol.com/news/business/markets/maruti-suzuki-dips-1-after-kotak-downgrades-cuts-price-target-3624881.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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