MARKET WRAP: Sensex pares some gains, ends 269 pts up, Nifty above 11,400
All that happened in markets today
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After surging 500 points in the intra-day trade, the S&P BSE Sensex witnessed a sharp fall at the fag-end of the session, mainly due to profit-booking to end at 38,024, up 269 points or 0.71 per cent. Financial stocks such as HDFC Bank and ICICI Bank contributed the most to the index's gains while Reliance Industries (RIL), ITC and Hindustan Unilever (HUL) emerged as the biggest drags.
The NSE's benchmark index Nifty50 closed above 11,400 level at 11,427, up 84 points or 0.74 per cent. The index hit a high of 11,487 levels during the day.
Both Sensex and Nifty reclaimed their crucial levels of 38,000 and 11,400 levels, respectively in the intra-day trade after a gap of six months.
On a weekly basis, Sensex gained 3.68 per cent and Nifty added 3.54 per cent.
Market breadth remained in favour of declines as out 2,860 companies traded on BSE, 1,478 declined and 1,207 advanced while 175 remained unchanged. A total of 59 securities hit their 52-week highs while 111 scrips hit their one-year lows.
BROADER MARKET
In the broader market, the S&P BSE MidCap index ended 83 points, or 0.55 per cent higher at 15,172, while the S&P BSE SmallCap index settled at 14,837, down 51 points or 0.34 per cent.
Banking barometer Nifty Bank, too hit a fresh record high of 29,520.70 during the day. It ended at 29,381.45, up over 1.50 per cent with 10 out of 12 constituents ending in the green.
BUZZING STOCKS
Shares of Titan Company hit a new high of Rs 1,112, up 2.5 per cent, in intra-day trade. The firm is set to join the elite club of Rs 1-trillion market capitalization (market-cap) on the BSE. The stock, eventually settled at Rs 1,095 apiece on BSE, up nearly a per cent.
Shares of UPL hit a new high of Rs 921, up 2 per cent, in intra-day trade, after more than two million shares of the agrochemicals company changed hands on the BSE through block deal. It settled at Rs 922, up 2 per cent.
SECTOR WATCH
Among sectoral indices, Nifty PSU Bank index added nearly 2 per cent, as Bank of Baroda and Punjab National Bank edged higher. The Nifty Private Bank index moved up 1.59 per cent.
GLOBAL MARKETS
Asian stocks advanced on Friday as sentiment improved on a report that U.S.-China trade talks were making progress and after UK lawmakers voted to delay a potentially chaotic exit from the European Union.
MSCI broadest index of Asia-Pacific shares outside Japan gained 0.55 per cent. The Shanghai Composite Index added 0.7 per cent and Japan’s Nikkei climbed 0.8 per cent.
(With inputs from Reuters)
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
(Click here to view full list)
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
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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
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First Published: Mar 15 2019 | 7:44 AM IST
