MARKETS: Sensex ends 383 points up at 37,054; sees biggest jump in 6 months

Here's a look at all that happened in markets today

3:42 PM

Sectoral trends on NSE

3:42 PM

Top gainers and losers on S&P BSE Sensex

3:39 PM

Market at close

The S&P BSE Sensex ended at 37,054.10, up 382 points while the broader Nifty50 index settled at 11,068, up 132.60 points.

3:19 PM

Top gainers (BSE 500)

COMPANY	PRICE (rs)	CHG (rs)	CHG(%)	VOLUME
INFIBEAM AVENUES	44.20	4.80	12.18	3962481
AVANTI FEEDS	455.05	44.20	10.76	289163
HIMATSING. SEIDE	194.05	17.95	10.19	31923
FORBES & CO	2398.55	218.05	10.00	4195
JUBILANT LIFE	844.85	76.35	9.93	74838

3:18 PM

MARKET VIEW :: Morgan Stanley

Our preferred overweight (OW) markets are Brazil, China, India, Indonesia and Singapore. We are UW Australia, Mexico and Philippines. We continue to OW Financials and Materials and selective cyclical areas, such as Chinese Autos whilst we are UW Telecoms and IT Hardware.

Across our coverage, our preference hierarchy currently is for CSI300, Topix, MSCI EM (country allocation noted above), with MSCI Asia ex Japan likely to lag, held back by our UW Australia view. We also screen for mega cap stocks with the most upside and downside to MS bottom-up analysts targets.

Photo: Shutterstock

3:16 PM

Motilal Oswal Securities on NTPC

With the uncertainty of regulations now behind, focus should now shift to core performance, which we believe is turning around well. The fixed charge under-recovery has started to decline as domestic coal availability has improved. RoE will improve from ~9% in FY18 to ~13% by FY21E as capitalisation outpaces capex and under-recoveries decline. The stock trades attractively at ~1.1x FY20E P/BV for strong double-digit earnings growth and improving RoE profile. Our revised DCF-based target price is Rs 197/share. Re-iterate Buy.

NTPC

3:04 PM

Top gainers and losers on S&P BSE Sensex

2:51 PM

Top losers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
REL. COMM.	5.46	-0.39	-6.67	4793294
REC LTD	133.85	-9.25	-6.46	516778
BIRLA CORPN.	531.50	-33.30	-5.90	58509
DEWAN HSG. FIN.	132.60	-7.15	-5.12	2056195
NATL. ALUMINIUM	54.45	-2.40	-4.22	2126153

2:35 PM

Research analysts a fraction of the number of brokers, says Sebi data

Do most brokerages not provide any research services at all? Numbers from the stock market regulator seem to suggest so. The number of research analysts who have already undergone registration with the Securities and Exchange Board of India (Sebi) is 618. There are over 3,984 brokers. This works out to around one research analyst registration for every six brokers. READ MORE

2:25 PM

Most active stocks by volume (BSE500)

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SUZLON ENERGY	7.39	0.06	0.82	8586495
REL. COMM.	5.51	-0.34	-5.81	4145014
RELIANCE POWER	11.98	0.01	0.08	4092308
INFIBEAM AVENUES	44.40	5.00	12.69	3795331
CG POWER & INDU.	36.65	0.45	1.24	3160690

2:13 PM

PSBs in focus; Nifty PSU Bank gains 10% in 8 days

Shares of public sector banks (PSBs) continued their northward journey with the Nifty PSU Bank index gaining 10 per cent in past eight trading days on expectation of improving assets quality going forward. In comparison, the benchmark Nifty 50 index was up 3 per cent, while Nifty Bank index gained 4 per cent during the same period. At 01:43 pm, Nifty PSU Bank index, the largest gainer among sectoral indices, was up 2.5 per cent, against 1 per cent rise each in Nifty 50 and Nifty Bank indices. READ MORE

1:54 PM

Saudi Arabia to cut crude oil exports in April 'despite strong demand'

Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output "well below" 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support oil prices. State-owned Saudi Aramco's oil allocations for April are 635,000 bpd below customers' nominations -- requests made by refiners and clients for Saudi crude, the Saudi official said. READ MORE

1:44 PM

NEWS ALERT | RITES board approves an interim dividend at Rs 4 per share to be paid on March 19

1:32 PM

NEWS ALERT | Sensex reclaims 37,000-mark

1:25 PM

Sectoral trends on NSE

1:21 PM

Pledging of shares: Do lenders need to rethink their strategy?

Ruchir Sinha, head of the PE and M&A practice at Nishith Desai Associates, and Mohammad Kamran, a senior member of the firm’s international litigation and dispute resolution practice, explain the laws that govern lenders, right to invoke pledged shares What is the issue regarding the pledge of shares that has come to light recently? The issue of invocation and sale of pledged shares by lenders has been drawing the headlines, particularly in case of Essel Group and Reliance ADAG. READ MORE

1:11 PM

NEWS ALERT | Kalpataru Power Transmission Limited secures orders worth Rs 1,288 crore

12:57 PM

MARKET COMMENT :: Jitendra Gohil, Head India Equity Research, Credit Suisse Wealth Management

Currently, India is facing several headwinds, from stretched fiscal deficit targets to higher oil prices (YTD up ~21%) along with election-led uncertainty. General elections are now a couple of months away and we expect heightened volatility ahead of the elections. We reiterate that any major volatility ahead of the elections in April-May 2019 could offer a good buying opportunity in Indian equities. Given significant deterioration in mid-cap valuations we close our negative view on mid-caps and advise investors to start building exposure gradually

JItendra Gohil, India equity research head at Credit Suisse

12:54 PM

Nomura on general elections

With the election dates announced, we expect government decision making to slow over the next three months. It comes amid an ongoing cyclical slowdown for the economy. We expect growth to soften to 6.0-6.5% in H1 CY19 from 6.6% in Q4 2018, due to the global slowdown, tighter financial conditions and reticence of private investment until political risks fade

12:53 PM

RIL, ICICI Bank, SBI contribute maximum to Sensex's gain

(Image source: BSE)

12:38 PM

Elara Capital On Automobiles

Our analysis of key MHCV firms’ state-wise growth and market share data in Q3FY19 shows total MHCV volume contracted by 12% YoY. The trucks segment (GC) fell 12% YoY and buses (PC) dipped 16% YoY. The east zone posted growth of +5% YoY and south at +3% YoY in 3Q. Among key states, MHCV (trucks+buses) volume growth of Maharashtra, Uttar Pradesh, Rajasthan and Haryana posted a sharp decline of 30%, 23%, 30%, 23%, respectively. Gujarat, AP+Tel, Tamil Nadu, Bihar and Orissa posted growths of 25%, 9%, 6%, 41% and 18%, respectively. States like UP and Rajasthan are expected to register a YoY decline in Q4FY19 as well as high base (overloading ban effect last year) catches up. The drop of Maharashtra needs monitoring.

12:36 PM

Fundamental view on State Bank of India by ICICI Securities

12:30 PM

DHFL stock slips 4% after rating downgrade by Brickwork Ratings

Shares of Dewan Housing Finance Corporation (DHFL) were down 4 per cent to Rs 134 in intra-day trade on the BSE, extending past two days' 6 per cent decline in otherwise firm market after rating agencies downgraded the housing finance company's various debt instruments. Brickwork Ratings (BWR), on March 8, 2019, downgraded DHFL's various debt instruments by one notch, citing de-growth in business on account of inability to raise funds. READ MORE

12:17 PM

Balanced schemes are facing redemption pressure amid low dividend payouts

Balanced schemes, which invest in both equities and debt, are facing redemption pressure amid low dividend payouts and weak returns. In February, the category saw outflows of Rs 1,077 crore, taking their two-month net redemptions tally past Rs 2,000 crore. READ MORE

12:01 PM

Market check

12:00 PM

NEWS ALERT | Power Mech JV bags orders worth Rs 1,239 crore in Andhra Pradesh

11:53 AM

Top gainers and losers on S&P BSE Sensex

11:40 AM

Aarti Drugs extends rally on share buyback proposal; hits 52-week high

Shares of Aarti Drugs hit a 52-week high of Rs 705, up 5 per cent, on the BSE in intra-day trade on Monday after the company said its board will meet on Friday, March 15 to consider a share buyback proposal. READ MORE

11:30 AM

From Lemon Tree to Aavas Financiers, most IPOs of FY19 in the green

Despite choppy markets, two-thirds of companies listed this financial year post their initial public offerings (IPO) have managed to deliver positive returns. A total of 17 new listings have taken place since April 1, out of these 11 are currently trading above their issue price. READ MORE

11:09 AM

Chart check | Sensex, Nifty cross their respective highs, will see a major breakout

The index is trading closer to its previous high of 11,118 levels. The crossing of the same will indeed strengthen the upward move, as per the chart. The strong support comes in at 10,869, which is its 200-DMA. The immediate support falls at 10,950 level. The nearest exponential moving averages, 7-EMA and 11-EMA have made a positive crossover on daily chart, which supports the buying scenario. READ MORE