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Wednesday, March 20, 2019

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

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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

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International Market Update:


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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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Monday, March 18, 2019

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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Sensex back above 38K: Here’s how you can allocate Rs 10 lakh right now


It is not the time to invest because of the massive up move we saw in the last few days. The market might be overvalued right now. If these are your thoughts, rest assured you are not alone.
History suggests that retail investors joined the rally near highs and booked profits or closed positions when the time came to add positions. Well, the market is certainly not at its peak but the risk-to-reward ratio might have come down at least for the near term.
But, if you plan to stay in the market for the long term – the time is still right, suggest experts, and efficient portfolio allocation would be the key for wealth generation.
The market has sprinted in March to reclaim lost glory as Sensex and Nifty both are above crucial resistance levels.
The S&P BSE Sensex has rallied 2,157 points, or about 6 percent, so far in March while Nifty50 has registered a vertical climb of 634 points, or 5.8 percent.
So, what fuelled the rally? Well, a host of global as well as domestic factors led to strong risk-on sentiment towards equities. The gush of liquidity from foreign institutional investors of about Rs 19,000 crores has been the major factor driving the rally.
“Weakness in the US dollar is normally positive for emerging market inflows and India has got more than the fair share of foreign inflows due to improving macro scenario and market sentiments,” Gaurav Dua, head of research, Sharekhan by BNP Paribas told Moneycontrol.
“Recent events have increased the probability of the NDA government gaining higher than earlier expected seats in the forthcoming elections boosting market sentiment. The rally is seen across financial markets - equities, bond and appreciation in the rupee despite the rising fears of fiscal slippages,” he said.
Time to put additional funds?
Experts feel that the time is fairly right for investors to get into market and dips, if any, should be used for making a diversified portfolio which leads to long-term wealth creation.
Here are views from various experts on allocation if you are looking to invest right now. We have taken Rs 10 lakh as investment corpus:
“The strategy at the current phase should be focused towards having a proper balance across different asset classes. And therefore, by keeping a long-term view, an investor can allocate 40 percent of total amount, say Rs 10 lakhs, in quality large-cap companies coupled with a marginal allocation of 10 percent in midcap/small cap companies which have to be backed by decent valuation,” Dinesh Rohira. Founder & CEO at 5nance.com told Moneycontrol.
“It is also practical to allocate 30-40 percent of overall allocation in debt instrument with short-to-medium maturity papers given a possible pause in interest rate regime going forward, and remaining 10 percent to be allocated in gold or gold funds,” he said.
He further added that while investing in equity, one should follow a staggered approach and gradually increase the allocation once the market stabilizes in a fair trend.
Source:https://www.moneycontrol.com/news/business/stocks/sensex-back-above-38k-heres-how-you-can-allocate-rs-10-lakh-right-now-3655141.html

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Opening Bell


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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...