Closing Bell

India’s key benchmark indices Sensex and Nifty, ended sharply higher today on the back of heavy buying from foreign investors as well as domestic investors.

The Sensex closed above 38,000-mark on the back of rally in bluechips such as Kotak Bank, ONGC, PowerGrid, TCS, SBI, NTPC and HCL Tech, which moved up in a range between 2 per cent and 5 per cent.

Market sentiment has turned buoyant on strong expectation of a stable political regime in the upcoming Lok Sabha polls.

After opening higher at 37,760.23, the Sensex rose further to an intraday high of 38,254.77 before settling  at 38,024.32.

The NSE Nifty too rose 83.60 points, or 0.74 per cent, and ended at 11,426.85.

Yesterday, FII have bought net equities worth Rs 1,482.99 crore and DIIs have sold net equities worth Rs 817 crore

SECTORAL INDICES ON  NSE

SECTORAL INDICES

INDICES WATCH (MARCH 15, 2019)

Dilip Buildcon jumps 8.50% on BSE

Dilip Buildcon shares surged nearly 8.50% at Rs 654.70 on the BSE today. As of now, volumes traded in the counter were over 2 lakh shares, which were higher as compared to the two-week average traded volumes at 1.82 lakh shares

Advances/Declines on BSE

NSE F&O: Open Interest rise with slide in Price

Open Interests Rise with Slide in Price

NSE F&O: Open Interest spurt with rise in Price

Open Interests spurt with rise in price

Cadila Healthcare shares gain 3.50%

Cadila Healthcare jumped 3.53% at Rs 342 on the BSE today on long-term fundamentals that continued to remain intact on the back of rich pending product pipeline in the US (including high-value products) and no pending USFDA issues.

Cadila Healthcare is one of the largest domestic pharma companies in India with a strong focus on niche segment in the US market.

Manugraph India zooms 16%

Manugraph India shares surged nearly 16% at Rs 32.50 on the NSE today.  The company reported last month that its net sales at Rs 81.28 crore in December 2018 was up 80.06% from Rs. 45.14 crore in December 2017 amd tje Quarterly Net Loss at Rs. 1.27 crore in December 2018

Last year, the board of Manugraph India approved a scheme of merger. The scheme entails absorption of Constrad Agencies (Bombay) Pvt Ltd, and Maiu Enterprises and Santsu Finance and Investment Pvt Ltd with Manugraph India. The scheme is subject to sanction from the National Company Law Tribunal, approvals from the stock exchanges, SEBI, the respective shareholders and creditors.

Broker's call

GAIL  - Buy for a Target Price Rs. 382

Reliance Securities

GAIL segment includes natural gas and liquid petroleum gas (LPG) transmission, Natural Gas Trading, Petrochemicals, LPG and other Liquid Hydrocarbons and City Gas Distribution.

GAIL has sold ~70% of US LNG in deals with term extending up to 20 years to Indian LNG consumers. These include spot/ medium term LNG buyers and fertilizer industry.

The public sector has made more than $0.7/mmbtu gas trading margins on US LNG for nine-Month period in FY19.

Management guided that Petchem plant to operate at 100% utilisation in Q4FY19 and maintained guidance of 90%/95% in FY20E/21E.

Reliance Securities report says GAIL to witness 9% earning CAGR through FY19-21E backed by swing in gas volume from HVJ (low tariff) to DVPL (higher tariff), HVJ & DVPL pipeline tariff upward revision and likely higher utilisation of Petrochemical capacity in next 2 years.

At current market price of Rs 355, the stock trades at 11.3x of FY20E EPS, which is a discount to its long-term average of 12.2x (last 5 years).

The research report keeps a target Price of Rs 382 with a buy recommendation.

BSE SECTORAL INDICES

IndusInd Bank breaks resistance at Rs 1,686

Shares of IndusInd Bank Ltd gained as much as 2.1 per cent to Rs 1,718 on Friday,their highest since September 28, 2018

The stock broke above a resistance at Rs 1,685.55.

READ MORE

Titan hits record high; chart suggests more upside

Shares of jeweller and watch manufacturer Titan Company Ltd gained as much as 2.53 per cent to a record high of Rs 1,113.8.

The stock has broken above a resistance at Rs 1084.1, the 50 per cent Fibonacci projection level of the uptrend from its November 21, 2016 low to April 18, 2018 high (wave 1).

This breakout suggests that in the near term, the stock may rise up to the next resistance at Rs 1,167.1, the 61.8 per cent projection level.

File photo

Arvind Fashions hit upper circuit

Arvind Fashions continued to rose further and achieved 5% gain at Rs 791.80 on the NSE today.  As of now, volumes traded in the counter were 3,401.

Bharti Airtel falls on Jefferies downgrade

Shares of Bharti Airtel Ltd fell as much as 3.3 per cent to Rs 331.2 on Friday.

Jefferies downgraded the stock to “underperform” from “hold”. The target price has been to Rs 270 from Rs 280

READ MORE

Related Stories

Airtel to lower direct stake in telecom tower firm Infratel

32 per cent shares to be transferred to unit; stock price goes up post announcement

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Bharti Airtel arm applies for in-flight connectivity licence

According to Euroconsult, over 23,000 commercial aircraft will offer connectivity to their passengers by 2027, up from 7,400 aircraft in 2017

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IDFC shares jump 7% on heavy buying

IDFC shares surged nearly 7% to Rs 44.80 on the BSE today

The company last month reported an 11-fold jump in net profit for the December quarter at Rs 26.28 crore, mainly due to a tax adjustment. On the NSE, Volumes traded in the counter were 1.17 crore shares as of now.

IDFC is in a financial institution which undertakes term lending on a large-scale.

Broker's call: L&T Infotech (Buy)

ICICI Securities

L&T Infotech (Buy)

CMP: ₹1,650.3

Target: ₹1,905

We had downgraded L&T Infotech LTI) to ‘Hold’ (from ‘Add’) post Q3FY19 results as we saw client-specific issues in the BFS vertical limiting upside to consensus revenue estimate for FY20. In addition, we saw EBIT margins as having peaked in Q3FY19 at 19.1 per cent given investments to be made in capacity creation (driving lower utilisation) and Sales & Marketing. The stock is down about 9 per cent since reporting Q3FY19 results versus Nifty IT Index being up 4 per cent over the same period.

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Broker's call

Daily Currency Strategy (March 15):

ICICI SECURITIES

Intra-day strategies

Sell US$INR in range of 69.57 -69.63.

The dollar-rupee March contract on the NSE was at 69.46 in the previous session. March contract open interest increased 0.89% in the previous session.

I-Sec expect the US$INR meet supply pressure at higher levels.

Utilise upsides in the pair to initiate short positions.

Largecap stocks on BSE

Largecap stocks

Buy ONGC if stock climbs above ₹153 levels

Fresh long positions can be initiated with a fixed stop-loss if the stock of ONGC climbs above ₹153 levels

₹151 • ONGC

Intra-day future recommendation

ICICI Securities

Buy Marico in the range of Rs 345.50-346.00

Sell TCS in the range of Rs  1995.00-1997.00

DCM Shriram shares jump 2% on new plant commission

DCM Shriram stock has gone up nearly 2 per cent at Rs 475.75 on the NSE today after the compay said it has commissioned 30 megawatts (MW) power plant (including 22.5 MW exportable) at DSCL Sugar Hariawan Unit.

The company has started selling power to the Grid with effect from  February 28, 2019.

Alphageo (India) zooms over 6 per cent

Alphageo (India) Limited shares surged over 6 per cent to Rs 532.55 on the NSE today on bagging recent contracts worth ₹45.88 crore (exclusive of taxes) from Geological Survey of India for conducting the airborne geophysical surveys over two identified blocks in and around Obvious Geological Potential Areas of India.

Alphageo is in the Oil Drilling And Exploration sector. The current market capitalisation stands at Rs 337.65 crore

NIFTY BANK STOCKS

NIFTY BANK STOCKS

Sell TCS if falls below ₹1,970 levels

Fresh short positions are recommended with a fixed stop-loss only if the stock of TCS falls below ₹1,970 levels

₹1988 • TCS

Buy Reliance Ind if reverses higher from ₹1,327 levels

₹1341 • Reliance Ind.

COMMENT:

Initiate fresh long positions with a tight stop-loss only if the stock of RIL reverses higher from ₹1,327 levels

Rajesh Exports trade strong on new export order

Rajesh Exports stock rose Rs 5.20 or 0.85% on the NSE today after the company reported that it procured export order worth Rs.1,079 crore.

Rajesh Exports said the order has been procured beating global competition from a leading wholesaler and stockist of Middle East for further distribution to the global markets.

The order is to be completed by June 2019.

Kotak Bank surges over 4 per cent

Kotak Bank stock rose nearly 4 per cent at Rs 1,319 after a report that said t he Bombay High Court, on Tuesdsay,  adjourned the hearing of the writ petition filed by Kotak Mahindra Bank on the dilution of promoter stake to April 1, and refused to give interim relief to the lender against the Reserve Bank of India’s norms for dilution of promoter shareholding.

Largecap stocks on BSE

Largecap stocks

Rupee appreciates 20 paise to 69.14 vs dollar in early trade

The rupee appreciated by 20 paise to 69.14 against the United States (US) dollar in opening trade Friday, driven by sustained foreign fund inflows and higher opening of domestic equities.

The rupee opened at 69.28 at the interbank forex market, then gained further ground and touched 69.14, displaying gains of 20 paise over its last close

Intraday calls for March 15

Go Long in SBI if reverses higher from  Rs 285

₹291 • SBI

COMMENT:

Fresh long positions can be initiated with a stiff stop-loss if the stock manages to reverse higher from ₹285

VOLUME GAINERS ON NSE

VOLUME GAINERS ON NSE

Derivatives View (March 15):

ICICI Securities Recommendation

Buy Nifty in range of 11337-11353; Buy Bank Nifty in range of 28750-28800.

Nifty

The broader market took a pause after a sharp momentum in the last couple of sessions and ended almost flat. Profit booking was seen among index heavyweights like Reliance Industries while pharma and FMCG stocks witnessed buying interest. However, the market breadth remained marginally negative.

In the options space, fresh writing was observed at 11300 Put strike for the settlement while volatility index remained around 15 levels. Nifty futures settled at a premium of 25 points as IVs moved above 15% once again.

The highest Put base has remained at 11000 strike with almost 40 lakh shares while the highest Call base is at the 11500 strike with 26 lakh shares .

Bank Nifty

The banking index took a breather near 29000 and settled below it. Index heavyweights saw a round of profit booking while midcap private banking stocks saw continued buying interest.

After a sharp move of more than 1000 points in the index in last couple of sessions, a round of consolidation is expected.

However, we do not expect the Bank Nifty to move below 28500. Declines remains a buying opportunity.

The Nifty PSU bank index rose as much as 1.7 per cent. File Photo

NIFTY NEXT50 GAINERS

Nifty Next50 Gainers

TOP NSE GAINERS

Top NSE Gainers

Largecap Stocks on BSE

Largecap stocks on BSE

Go Long in Nifty 50 Futures if rebounds up from  11,330 levels

11381 • Nifty 50 Futures

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

NIFTY 50 MARCH Futures

Day Trading Guide for March 15

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

Go long in HDFC Bank if rebounds up

₹2223 • HDFC Bank

Buy Infosys if rallies above ₹718 levels

₹708 • Infosys

READ MORE

Wall St near flat as trade deal outlook uncertain

US stocks were little changed in late afternoon trading on Thursday amid uncertainty over when a trade deal between the United States and China would be reached.

President Donald Trump said the United States was doing very well in trade talks with China, but could not say whether a final deal would be reached

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Opening Bell

The BSE benchmark Sensex opened higher on positive cues from global markets.

The 30-share index gained 165.79 points points, or 0.44% per cent, at 37,919.56.

Similarly, the 50-share NSE Nifty jumped 31 points, or 0.28 per cent, to 11,374.45.

Today's Pick: Essel Propack (₹117.1): Buy

Investors with a short-term horizon can consider buying the stock of Essel Propack at current levels. Following a medium-term downtrend, the stock found support at ₹85 in late October.

READ MORE

Asian stocks up as US-China trade talks in focus, dollar supported

Asian stocks stepped ahead on Friday as sentiment improved on a report that more progress has been made in United States (US)-China trade talks and after United Kingdom (UK) lawmakers voted to delay a potentially chaotic exit from the European Union (EU).

READ MORE

Asian shares slip on lingering trade, US rates worries. File Photo