MARKET WRAP: Sensex up 342 points, Nifty settles at 10,880 led by IT stocks
All that happened in markets on Monday
 "Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers")
The benchmark indices ended nearly 1 per cent higher led by gains Infosys, TCS, HDFC Bank, ICICI Bank and ITC.
The S&P BSE Sensex ended at 36,213, up 342 points or 0.95 per cent, while the broader Nifty50 index settled at 10,880, up 88 points or 0.81 per cent.
Among sectoral indices, the Nifty IT index settled 2.03 per cent higher driven by gains in Infosys and TCS. The Nifty Private Bank index, too, ended 1.102 per cent higher steered by YES Bank and Federal Bank.
In the broader market, the S&P BSE MidCap index ended 60 points, or 0.43 per cent higher at 14,230, while the S&P BSE SmallCap index settled at 13,618, up 100 points, or 0.74 per cent.
Buzzing stocks
The S&P BSE Sensex ended at 36,213, up 342 points or 0.95 per cent, while the broader Nifty50 index settled at 10,880, up 88 points or 0.81 per cent.
Among sectoral indices, the Nifty IT index settled 2.03 per cent higher driven by gains in Infosys and TCS. The Nifty Private Bank index, too, ended 1.102 per cent higher steered by YES Bank and Federal Bank.
In the broader market, the S&P BSE MidCap index ended 60 points, or 0.43 per cent higher at 14,230, while the S&P BSE SmallCap index settled at 13,618, up 100 points, or 0.74 per cent.
Buzzing stocks
Shares of Wipro hit 19-year high of Rs 396 apiece, up 4.5 per cent on the BSE in the intra-day trade, after the company fixed March 7, 2019, as the record date to determine eligible shareholders entitled to receive the bonus equity shares. The stock ended at Rs 387, up 2.11 er cent on BSE.
Shares of Neuland Laboratories rallied 18 per cent to Rs 760 apiece in the intra-day trade, soaring 54 per cent in the past two weeks on the BSE, after the company reported an over six-fold jump in net profit at Rs 4.6 crore in December 2018 quarter (Q3FY19). The stock settled at Rs 722.50, up 12.27 per cent
Global Markets
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.14 per cent to the highest since October, while futures pointed to a firmer opening for Japan’s Nikkei. E-Mini futures for the S&P 500 edged up 0.3 per cent.
(with Reuters input)
3:38 PM
Sectoral gainers and losers of the day
3:36 PM
Gainers and losers of the day on S&P BSE Sensex
3:34 PM
Market at close
The S&P BSE Sensex ended at 36,213, up 342 points or 0.95 per cent, while the broader Nifty50 index settled at 10,880, up 88 points or 0.81 per cent.
3:14 PM
Neuland Labs soars 54% in two weeks post December quarter results
Shares of Neuland Laboratories rallied 18 per cent to Rs 760 apiece on Monday, soaring 54 per cent in past two weeks on the BSE, after the company reported an over six-fold jump in net profit at Rs 4.6 crore in December 2018 quarter (Q3FY19). The pharmaceutical company had a profit of Rs 0.74 lakh in the year-ago quarter. In comparison, the S&P BSE Sensex was down 1 per cent during the same period. READ MORE
2:52 PM
SECTOR WATCH :: Emkay Global on FMCG companies
We continue to believe that consumer companies are poised to show improvement in earnings growth, going ahead. This will be led by a healthy volume growth and cost-control exercises initiated by companies. We believe that, during FY18-21e, consumer companies are to record double-digit growth in earnings. We maintain our positive stance on the sector. Our top picks within the sector are Marico, ITC and Asian Paints.
2:50 PM
ICICI Securities on LIC Housing Finance
LICHF’s core individual book has been witnessing a moderation in growth due to increasing competition. However, given the liquidity pressure faced by other HFCs, LICHF is poised to gain market share. As we remain slightly concerned on the home loan growth across industry we have factored 14.6% loan CAGR for LICHF. In the near term, rise in cost of funds is seen to impart pressure.
2:49 PM
Edelweiss on Adani Ports & SEZ
While we retain ‘BUY’ on the stock, we do see near-term pressure and overhang on the stock given the current market environment, which is sensitive to pledging, leveraging and related-party transactions. Our FY21E EPS could suffer potential downside of 2%. We remain confident on APSEZ’s long-term prospects given its strong positioning among shipping lines and strong cash flow from the existing ports business.
2:49 PM
Motilal Oswal Securities on Tech Mahindra
The stock has nearly doubled over the past 18 months led by strong margin execution, and we believe that further upside will be a function of continued acceleration in Communications vertical revenue. Near-term upside will be limited, given that there is still time for impetus from 5G to play out, and earnings growth should settle down after the margins’ run. Our TP of INR860 (15% upside) discounts forward earnings by 14.5x, the average multiple over the last five years. Maintain Buy.
2:37 PM
Top gainers and losers on S&P BSE Sensex
2:18 PM
GVK Power extends rally on stake hike in Mumbai Airport; up 61% in one week
Shares of GVK Power & Infrastructure rallied 16 per cent to Rs 8.59 apiece on the BSE in intra-day trade on Monday, after the company announced that GVK Airport Holdings will acquire an additional 13.5 per cent stake in Mumbai International Airport Ltd (MIAL) from South Africa's Bidvest Group for Rs 1,247.40 crore ($175 million). GVK Airport Holdings, a step down subsidiary of GVK Power & Infrastructure, has exercised its right, under “Right of First Refusal” in terms of the shareholders agreement dated 4th April 2006. READ MORE
2:18 PM
Stock impact
2:16 PM
NEWS ALERT | Mauritius arm of Thomas Cook to acquire 51% stake in DEI Holdings
2:02 PM
MARKET CHECK
1:55 PM
» More on Top Losers
Top losers on BSE500
| COMPANY | PRICE(rs) | CHG(rs) | CHG(%) | VOLUME |
| REL. COMM. | 6.02 | -0.52 | -7.95 | 8607984 |
| ADANI PORTS | 328.30 | -25.80 | -7.29 | 882526 |
| JP ASSOCIATES | 5.91 | -0.26 | -4.21 | 2346165 |
| MOTIL.OSWAL.FIN. | 591.55 | -20.75 | -3.39 | 24233 |
| GATEWAY DISTR. | 108.05 | -3.70 | -3.31 | 1906 |
1:37 PM
NEWS ALERT | Mild el-nino conditions seen: agencies
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First Published: Feb 25 2019 | 8:10 AM IST
