MARKETS ON TUESDAY: Sensex, Nifty gain in last leg of trade; PSU banks rise
All that happened in the markets
 "MARKETS ON TUESDAY: Sensex, Nifty gain in last leg of trade; PSU banks rise")
Bonds, Stock markets, Shares, Trading
Benchmark indices rose in the last leg of trade to end higher on Tuesday despite weakness in global peers, with gains in lenders such as State Bank of India, ICICI Bank and Axis Bank.
The S&P BSE Sensex ended at 33,371, up 115 points while the broader Nifty50 index settled at 10,245, up 33 points.
The S&P BSE Sensex ended at 33,371, up 115 points while the broader Nifty50 index settled at 10,245, up 33 points.
Among sectoral indices, the Nifty PSU Bank index was up over 1.5% led by a rise in the shares of Bank of India and Bank of Baroda.
Among major economic data Activity in India's manufacturing sector expanded at its weakest pace in five months in March as order and production growth slowed, discouraging firms from hiring, a business survey showed on Tuesday.
The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 51.0 last month from February's 52.1, well short of a Reuters poll median of 52.8.
Investors will now look forward to Reserve Bank of India's (RBI) first bi-monthly policy decision of FY19 to be held on Thursday.
In the global markets, Asian stocks extended a global selloff and the yen rose on Tuesday as investors fled for safety as an escalating trade spat between the United States and China and a renewed slump in tech shares such as Amazon.com sapped investor confidence.
(with Reuters inputs)
3:46 PM
Market round-up from Geojit Financial Services
Market traded range bound throughout the day due to volatility in the global market. But towards the close, pace picked up supported by moderation in yield and growth in core sector. Yield declined amid central bank allowing the banks to spread their bond trading losses which gave a positive sentiment to banking stocks. On the other hand, investors are gradually shifting focus to upcoming Q4 results and RBI policy outcome which will dictate the market outlook in the near term.
3:41 PM
Nifty PSU Bank index settles 1.65% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) | VOLUME |
| BANK OF INDIA | 108.15 | 104.65 | 3.50 | 3.34 | 10186387 |
| SYNDICATE BANK | 58.25 | 56.50 | 1.75 | 3.10 | 6535909 |
| BANK OF BARODA | 145.50 | 141.90 | 3.60 | 2.54 | 15023339 |
| INDIAN BANK | 309.20 | 302.10 | 7.10 | 2.35 | 1315036 |
| ST BK OF INDIA | 251.35 | 246.15 | 5.20 | 2.11 | 19247891 |
3:36 PM
Sectoral performers
3:34 PM
BSE Sensex: Top gainers and losers of the day
3:32 PM
Market at close
The S&P BSE Sensex ended at 33,371, up 115 points while the broader Nifty50 index settled at 10,245, up 33 points.
3:25 PM
Motilal Oswal Research on Tata Chemicals
As Tata Chemicals scales up its growth businesses and deleverages its balance sheet, we expect its consolidated RoCE to improve considerably, in turn driving a stock re-rating. We believe it would be fair to assign ~30% premium to its five-year average EV/EBITDA of 7.5x. Our SOTP-based target price of Rs 940 (implied
EV/EBITDA of 9.7x FY20E) implies 36% upside. We initiate coverage with Buy.
3:23 PM
NEWS ALERT ICICI Securities to list tomorrow
3:21 PM
Buzzing Stock
Centrum Capital rose 9.76% to Rs 67.50 on BSE after the company said it signed agreement to sell its money exchange business to EBIX Inc for approximately Rs 1200 crore.
3:10 PM
Volume Toppers
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
|---|---|---|---|---|
| JP ASSOCIATES | 19.75 | 0.15 | 0.77 | 5150817 |
| IDBI BANK | 72.20 | 1.10 | 1.55 | 4952496 |
| REL. COMM. | 22.55 | 0.00 | 0.00 | 4854496 |
| SUZLON ENERGY | 11.71 | 0.57 | 5.12 | 4551615 |
| HIND.CONSTRUCT. | 25.60 | 2.45 | 10.58 | 3677485 |
3:09 PM
Sector watch: Auto
March 2018 was a strong month for the domestic automotive industry with robust volume growth across segments. MHCV industry volumes increased by 16-18% yoy on a relatively high base last year. Demand in rural India climbs up, which is reflected in strong demand for two-wheelers and tractors. Industry volumes in these segments increased by 18-40% yoy; all major OEMs (except Bajaj Auto) reported strong double-digit yoy volume growth.
March 2018 was a strong month for the domestic automotive industry with robust volume growth across segments. MHCV industry volumes increased by 16-18% yoy on a relatively high base last year. Demand in rural India climbs up, which is reflected in strong demand for two-wheelers and tractors. Industry volumes in these segments increased by 18-40% yoy; all major OEMs (except Bajaj Auto) reported strong double-digit yoy volume growth.
Topics :
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Apr 03 2018 | 3:30 PM IST