MARKET WRAP: Sensex pares some gains, ends 269 pts up, Nifty above 11,400

All that happened in markets today

3:39 PM

Sectoral gainers and losers of the day

3:38 PM

Top gainers and losers on S&P BSE Sensex at close

3:37 PM

Markets at close

The S&P BSE Sensex gained 269 points or 0.71 per cent to settle at 38,024 while NSE's Nifty50 index ended at 11,427, up 83.5 points or 0.74 per cent.

3:21 PM

Reliance Infrastructure surges almost 7%

3:01 PM

Market check

2:47 PM

Sectoral trends on NSE

2:46 PM

Private banks, Reliance Industries help Sensex past 38,000 mark

Banking shares, mainly of private lenders, along with Reliance Industries (RIL), have helped the benchmark S&P BSE Sensex reclaim the crucial 38,000 levels after six months. The S&P BSE Sensex hit 38,146 on Friday in intra-day trade, its highest level since September 14, 2018, on back of strong buying by the foreign portfolio investors (FPIs). READ MORE

2:34 PM

Commodity outlook: Edible oil down but not out

Edible oil prices have been declining due to rising stocks and poor demand. Rising output in India, the largest consumer, has added to the weak sentiment. Accordingly, domestic crude-palm-oil prices also declined, by around 8 percent. READ MORE

2:27 PM

Expect 25 bps cut in April: Kotak Securities

February CPI and WPI inflation firmed to 2.57% and 2.93% primarily on account of some reversal in food inflation. The readings, however, remain benign and would provide comfort to the MPC to cut repo rate by 25 bps to 6% in April. CPI inflation has been within the RBI’s target of 4% for the past seven months and is likely to remain so in the near term given the muted inflation-growth dynamics. If inflation expectations continue to fall and with some opening up of the output gap, we do not rule out further rate cuts given our expectations of sub-4% inflation till October 2019. Upside risks to inflation could emanate from volatility in food and fuel prices, monsoons, fiscal slippages, and elevated and sticky core inflation.

2:23 PM

Motilal Oswal Financial Services on LIC Housing Finance

At CMP, the stock trades at 1.4x FY20 BVPS – this is close to its decadal low of 1.1x. With steady-to-improving core home loan growth, stable spread and asset quality, LICHF is set to deliver 1.5%/16% RoA/RoE over the medium term. Key risks stem from the increasing GNPL ratio of the retail loan book. Maintain BUY with a target price of Rs 600 (1.5x Dec 2020E BVPS). 

2:14 PM

23 stocks on NSE hit 52-week highs

AGROPHOS	Agro Phos India Limited	74.80	68.00	08-Mar-2019	67.00	65.00	2.00	3.08
ALOKTEXT	Alok Industries Limited	5.55	5.30	14-Mar-2019	5.55	5.30	0.25	4.72
ANUP	The Anup Engineering Limited	683.80	663.75	14-Mar-2019	642.35	662.80	-20.45	-3.09
ARVINDFASN	Arvind Fashions Limited	791.80	754.10	14-Mar-2019	791.80	754.10	37.70	5.00
BANKBEES	Reliance ETF Bank BeES	3,001.15	2,953.00	14-Mar-2019	2,995.50	2938.84	56.66	1.93
BATAINDIA	Bata India Limited	1,385.00	1,374.00	12-Mar-2019	1,381.35	1364.30	17.05	1.25
BILENERGY	Bil Energy Systems Limited	2.30	2.20	14-Mar-2019	2.30	2.20	0.10	4.55

(Click here to view full list)

1:59 PM

SECTOR WATCH | NGT order, focus on affordable housing to aid home decor players

Recent ruling by the National Green Tribunal (NGT), Delhi bench to shut down all ceramic units at Morbi and Wankaner in Gujarat that run on coal gasifier is a positive development for organised home decor players, analysts say. READ MORE

1:52 PM

Heatmap: S&P BSE Sensex

1:49 PM

NEWS ALERT :: L&T approves MindTree acquisition: TV reports

1:42 PM

Chinese cuisine brand Hong's Kitchen foray adds spice to Jubilant's menu

After a good set of numbers for the December 2018 quarter, the stock of Jubilant FoodWorks (JFL) felt some pressure due to the promoter’s proposal for royalty payments. The stock recovered after the proposal was withdrawn. READ MORE

1:32 PM

UPL hits new high, rises 2% to Rs 251 after block deals

Shares of UPL hit a new high of Rs 921, up 2 per cent, in intra-day trade on Friday, after more than two million shares of the agrochemicals company changed hands on the BSE through block deal. At 09:19 am, around 2.41 million equity shares, representing 0.52 per cent of total equity of UPL, changed hands on the BSE, exchange data showed. READ MORE

1:20 PM

Latest FDA action is a 'sentimentally negative outcome' for Lupin

Lupin received yet another regulatory setback after the inspection of its Mandideep manufacturing facility (Unit 1) in Madhya Pradesh by the United States Federal Drug Administration (USFDA). The unit, which was classified as OAI or Official Action Indicated, may see an escalation of issues and difficulties in receiving approvals for new drug launches from there. READ MORE

1:18 PM

Index watch

INDEX	LATEST	PREVIOUS	CHANGE	CHANGE(%)
	38076.33	37754.89	321.44	0.85
	15066.48	14970.59	95.89	0.64
	15164.15	15088.31	75.84	0.50
	14929.45	14887.80	41.65	0.28
	4407.03	4375.68	31.35	0.72

1:17 PM

Motilal Oswal on LIC Housing Finance

At CMP, the stock trades at 1.4x FY20 BVPS – this is close to its decadal low of 1.1x. With steady-to-improving core home loan growth, stable spread and asset quality, LICHF is set to deliver 1.5%/16% RoA/RoE over the medium term. Key risks stem from the increasing GNPL ratio of the retail loan book. Maintain BUY

with a target price of Rs 600 (1.5x Dec 2020E BVPS).

1:16 PM

Edelweiss on Nestle

Our conviction on Nestle strengthening its volume-led revenue growth remains strong amid acceleration of broader market momentum. This was also evident in our recent interaction with the company’s MD and Chairman Mr. Suresh Narayanan. Volume growth of 11.1% in CY18 (highest in past seven years, ex-CY16, aided by Maggi’s comeback) reflects Nestle’s strengthening positioning in existing brands, deepening penetration and its quest for innovations.

We are enthused by the 370bps YoY increase in ad spend in Q4CY18 versus mere 50bps in H1CY18 (as highlighted in our earlier report, Innovations thriving; ad spends need to perk up). We remain enthused with Nestle’s innovation and success rate coupled with potential to harness growth through cluster-based approach. Hence, maintain ‘BUY’.

1:12 PM

NEWS ALERT | Rupee at day's high, trading at 69.13 against US dollar

1:06 PM

A2Z Infra hits the roof after one-time debt settlement

A2Z Infra Engineering hit an upper circuit limit of 5% at Rs 18.05 at 11:48 IST on BSE after the company said it signed full cash one time debt settlement agreement with Edelweiss Asset Reconstruction Company. READ MORE

12:54 PM

Advance-Declines in BSE

Advances -- 1,270

Declines -- 1,114

Unchanged -- 169

12:42 PM

Top gainers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
TUBE INVESTMENTS	409.40	26.70	6.98	20592
I D F C	44.55	2.65	6.32	1041821
GATEWAY DISTR.	131.90	7.35	5.90	6573
KOTAK MAH. BANK	1325.95	55.45	4.36	231801
ADVANCE. ENZYME.	188.80	7.60	4.19	46526

12:32 PM

Inter-group transactions, debts once again weigh on Adani Ports stock

Adani Ports and Special Economic Zone (Adani Ports) is among the most sold stock by domestic investors in February 2019, according to the recent data. For analysts who were always wary of the company’s debt levels, inter-group loans and advances, and shareholding pledged by its promoters, these concerns once again resurface with the Adani Agri Logistics’ (AAL) acquisition. READ MORE

12:22 PM

Sectoral trends on NSE

12:12 PM

Market check

12:04 PM

STOCK ALERT :: Nifty PSU Bank at 2-month high; PNB hits 6-month high on rating upgrades

Shares of public sector undertaking (PSU) banks were continued their northward journey with Nifty PSU Bank index hitting two-month high on expectation of improve financial performance.
 

At 11:15 am, Nifty PSU Bank index, the largest gainer among sectoral indices, was up 2.2 per cent, as compared to a 0.64 per cent gain in the benchmark Nifty50 index. Nifty Bank and Nifty Private Bank indices were up 1 per cent each. READ MORE HERE

11:49 AM

INTERVIEW :: NBFC sector to see massive consolidation ahead: Pankaj Murarka

The IL&FS default and the consequent liquidity squeeze has been a perfect storm for the shadow banking sector in India. Though the liquidity squeeze has abated to an extent, this event marks a structural change for the sector going forward, says Pankaj Murarka, Fund Manager and Founder of Renaissance Investment Managers, in an interaction with Swati Verma CLICK HERE FOR MORE

Pankaj Murarka

11:47 AM

Lok Sabha polls: Here's a snapshot of how markets have behaved since 2004

The markets tend to be volatile before and after the general election. With the polling dates for the 2019 elections announced, here’s a snapshot on how the markets have behaved since 2004 CLICK HERE FOR THE GRAPHIC