MARKET WRAP: Sensex falls 278 points from day's high; Nifty ends at 11,656

All that happened in markets today

4:19 PM

MARKET COMMENT | Vinod Nair, Head of Research, Geojit Financial Services

"Pre-election rally extended to the new financial year with increase in prospects of political stability, rate cut expectation from RBI and improvement in GST collection in March. A better-than-expected Chinese economic data and surge in US 10-year yield eased global growth concern which further added impetus to the sentiment. In spite of this, market gave up some gains towards closing due to strong resistance at 11,700 levels."

3:39 PM

Sectoral gainers and losers on NSE

3:39 PM

Top gainers and losers on S&P BSE Sensex

3:37 PM

MARKET AT CLOSE

The S&P BSE Sensex ended at 38,837, up 164 points or 0.42 per cent while the broader Nifty50 index of the National Stock Exchange (NSE) settled 32 points or 0.27 per cent higher at 11,656. 

3:15 PM

RBI will go for another rate cut

At the Mumbai launch of former Reserve Bank of India (RBI) governor Y V Reddy’s latest book Indian Fiscal Federalism (co-authored by G R Reddy), Governor Shaktikanta Das referred to Reddy’s tenure as “continuity and change… mixed together appropriately” — something which Reddy himself had said on assuming office in September 2003. READ MORE

3:13 PM

Market Check: Top gainers on BSE

ANDHRABANK	32.25	+4.15	+14.77
LAKSHVILAS	77.55	+7.05	+10.00
TATASTEELPP	70.55	+6.40	+9.98
WELCORP	146.00	+10.35	+7.63
J&KBANK	57.65	+3.90	+7.26

2:55 PM

Sectoral trends on NSE

2:45 PM

Top losers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
REL. COMM.	3.94	-0.20	-4.83	10739291
REC LTD	146.50	-6.35	-4.15	400269
NAVA BHARAT VENT	107.90	-3.85	-3.45	33085
RELIANCE NIP.LIF	204.00	-6.05	-2.88	33580
RELIANCE POWER	11.04	-0.32	-2.82	3364096

2:39 PM

NEWS ALERT | SML Isuzu's total March sales up 14.1% to 2,003 units

2:34 PM

South Indian Bank climbs almost 5%

2:34 PM

BUZZING STOCK | Reliance Industries hits new high

2:33 PM

Private Banks, Reliance Industries, Infosys take Sensex to new high

A sharp rally in three private sector banks – HDFC Bank, ICICI Bank and Axis Bank – that have gained over 10 per cent each from their August 29, 2018 level helped the benchmark index S&P BSE Sensex breeze past the 39,000 mark and hit a new high on Monday. The benchmark index surpassed its previous high of 38,990 recorded on August 29, 2018 in intra-day deals. READ MORE

2:32 PM

MARKET COMMENT | Mustafa Nadeem, CEO, Epic Research

We believe there may be some minor profit-booking in the short term as the hurdle placed at 39K and 11,750 levels for Sensex and Nifty, respectively. Dalal Street is also looking forward to RBI meet in this week and expects a rate cut. This has further pushed bullish sentiment and now almost any dip is being utilized for buying at lower levels. We maintain buy on dips with a target of 39,500+ levels in Sensex.

2:19 PM

United Spirits stock drops over 1%

2:16 PM

News Alert | E-Coli bacteria found in McDowell's packaged water

2:05 PM

Hindalco up 6%

1:54 PM

Market check

1:41 PM

Should you bet on cement stocks? Here's what technical charts indicate

UltraTech Cement: The stock is currently trading in the range of Rs 4,170 – Rs 4,140. The high of “Head and Shoulder formation” resides at Rs 4,147.95, as per the daily chart. The crossing of the same may eventually end the weakening sentiment. A major breakout above Rs 4,170 will apparently see Rs 4,410 levels. The support comes in at Rs 3830, its 100-day moving average (DMA). READ MORE

1:29 PM

Heatmap: S&P BSE Sensex

1:11 PM

Aramco biggest oil producer in 2018, Fitch rates credit profile at AA+

“Saudi Aramco is the largest oil producer globally by volume... In 2018 its liquids production and its total hydrocarbon production averaged 11.6 million and 13.6 million barrels of oil equivalent per day, respectively, well ahead of the upstream output of global and regional integrated producers such as ADNOC, Shell, Total and BP,” Fitch said. READ MORE

12:53 PM

Most active stocks by volume (BSE500)

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
REL. COMM.	3.94	-0.20	-4.83	10078440
SUZLON ENERGY	6.36	0.21	3.41	3166106
VODAFONE IDEA	17.95	-0.20	-1.10	2876395
RELIANCE POWER	11.08	-0.28	-2.46	2453053
IDBI BANK	46.65	0.00	0.00	2332361

12:47 PM

NEWS ALERT | NCC bagged nine new orders worth Rs 4,619 crore in March

12:41 PM

NEWS ALERT | Ashok Leyland's total March sales down 4% to 21,535

12:32 PM

PSU Banks extend gain; Andhra Bank, Indian Overseas Bank up over 5%

Shares of public sector banks (PSB) continued to trade higher with the Nifty PSU Bank index up nearly 3 per cent on hopes of margin expansion. Andhra Bank, United Bank of India, Corporation Bank, Indian Overseas Bank, Uco Bank, Bank of Maharashtra and Syndicate Bank were up more than 5 per cent each while Punjab National Bank (PNB), Bank of Baroda (BOB), Union Bank of India, Bank of India and Indian Bank were up in the range of 2 to 3 per cent on the National Stock Exchange (NSE). READ MORE

12:20 PM

Nifty Metal index extends gain

12:11 PM

Syndicate Bank rises 5%

12:01 PM

As many as 35 stocks hit 52-week high on NSE today

ACC	ACC Limited	1,723.40	1,679.85	29-Mar-2019	1,672.05	1666.30	5.75	0.35
ADANIGAS	Adani Gas Limited	137.50	135.50	29-Mar-2019	132.60	128.70	3.90	3.03
BAJFINANCE	Bajaj Finance Limited	3,046.40	3,034.95	29-Mar-2019	3,019.95	3025.00	-5.05	-0.17
BALAXI	Balaxi Ventures Limited	39.90	38.00	29-Mar-2019	39.90	38.00	1.90	5.00
BILENERGY	Bil Energy Systems Limited	3.45	3.30	29-Mar-2019	3.45	3.30	0.15	4.55

Click here to view the full list (Source: NSE)

11:55 AM

Reliance Securities on Ahluwalia Contracts

We maintain our positive stance on Ahluwalia Contracts mainly on the back of: 

 

(1) asset light business model; 

 

(2) strong balance-sheet (D/E ratio at 0.05x); 

 

(3) best-in-class return ratios; and 

 

(4) no equity commitment unlike several other construction companies. 

 

Expecting Ahluwalia Contracts’ revenue and PAT to clock 17 per cent and 20 per cent CAGR, respectively over FY18-FY21E, we reiterate our BUY recommendation on the stock with an unrevised Target Price of Rs 405 (16x FY20 EPS).

11:50 AM

Market outlook: Here's what analysts expect from stock market in FY20

Stock market ended financial year (FY) 2018-19 on a stellar note, thanks to a sharp rally in March after weak global cues and IL&FS crisis during the second half of the fiscal dented the investor sentiment in a big way. The S&P BSE Sensex rallied 17 per cent in FY19 while the broader Nifty50 index of the National Stock Exchange (NSE) gained 15 per cent. Out of this, 7.23 per cent gain in Sensex and 6.99 per cent in Nifty came in March alone. READ MORE

11:41 AM

Top gainers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
ANDHRA BANK	32.20	4.10	14.59	832262
FORBES & CO	2416.95	219.70	10.00	2620
LAK. VILAS BANK	77.55	7.05	10.00	180034
INDIABULLS VENT.	353.00	27.65	8.50	266336
WELSPUN CORP	146.10	10.45	7.70	173025