Markets Live: Sensex ends higher by 161 points; TCS stock climbs over 4%

Closing bell

The benchmark Sensex advanced for the sixth straight session to end above the key 34,000-level, led by gains in IT, TECk, banking and capital goods stocks.

The Sensex closed higher by 160.69 points or 0.47 per cent at 34,101.13 and the Nifty ended up by 41.5 points or 0.4 per cent at 10,458.65.

IT and TECk stocks led the gains as a weak rupee and hopes of positive quarterly results boosted investor sentiment. Infosys will kick-start the January-March corporate results season on Friday.

Investors await March retail inflation data due later today for cues about the economy.

Among BSE sectoral indices, IT index gained 3.18 per cent and TECk 2.49 per cent.

 

Top five Sensex gainers were TCS, Infosys, Axis Bank, ICICI Bank and Tata Motors, while the major losers were Dr Reddy's, Tata Steel, SBI, Sun Pharma and Adani Ports.  

Nifty sectoral indices

Top 10 Nifty gainers

Top 10 Nifty losers

According to provisional data, foreign portfolio investors had bought shares worth Rs 362.30 crore on a net basis, while domestic institutional investors bought equities to the tune of Rs 111.82 crore yesterday.

Global markets

MSCI's world equity index fell for the second day, while European shares declined 0.1 per cent in early deals. Read more

 

Bullion prices

Gold soared Rs 300 to trade at Rs 32,150 per ten gram at the bullion market on positive global cues amid continued buying by local jewellers. Silver also reclaimed the Rs 40,000-level per kg. Read more

 

Mixed performance from multi-cap funds

When you want to play the markets with a blend of stocks from across market capitalisations, multi-cap funds are a good option. By shuffling the proportion of mid- and large-cap stocks in their portfolios, multi-cap funds cater to investors with moderate to high risk appetites.  Read more

 

Nifty 50 April Futures (10,453)

As long as the contract trades above 10,440, the near-term view remains positive. Buy in dips with a stop-loss at 10,435 levels. Read more

 

SBI Magnum Multiplier

If you are looking for a fund that takes moderate risk, invests in stocks across market capitalisation and consistently beats its benchmark to deliver above-average returns, then SBI Magnum Multiplier is a perfect fit. Read more

 

The Sensex was trading higher by over 200 points on heavy buying in IT and TECk stocks, although falls in banks and oil marketing companies capped the rise.

At 2.10 pm, the BSE index was up 206.41 points or 0.61 per cent at 34,146.85 and the NSE index up 46.9 points or 0.45 per cent at 10,464.05.

 

 

IT stocks jumped due to weak rupee and expectations of positive quarterly results. Software services exporter Infosys Ltd will kick-start the January-March corporate results season on Friday.

TCS shares jumped as much as 4.5 per cent to Rs 3,150 and Infosys rose as much as 4.3 per cent to Rs 1,172 on the BSE.

 

 

Investors now await March retail inflation data due after market hours on Thursday for cues about the economy.

“Markets are rising in anticipation of earnings coming through. Further, there are early indications of increasing investment that is helping offset some softness in the services side,” said Sunil Sharma, chief investment officer at Sanctum Wealth Management.

SGX to list new Indian derivatives in June

After the National Stock Exchange withdrew from an agreement with SGX to trade Nifty, India’s widely-tracked derivative index in Singapore, SGX has retaliated by launching India futures and India options that will replace Nifty in Singapore from June. Read more

 

Too much caution hurting growth recovery?

As expected, the RBI in its first bi-monthly monetary policy statement for 2018-19 kept the policy rate unchanged at 6 per cent. While assessing various aspects of the economy, the RBI seems to be comfortable with the overall growth outlook for 2018-19 as also with the ongoing momentum witnessed in the agricultural and industrial sectors. Read more

 

Biocon jumps to over 1-month high

Biocon stock rose as much as 2.8 per cent to Rs 629.85, highest in over a month as the company's partner Mylan and FKB have signed a deal for arthritis drug in the EU. Read more

 

Firestar Diamond’s $3.8-m stash may elude PNB

The multi-layered structure of Nirav Modi’s companies – Firestar Diamond Inc, A Jaffe Inc and Fantasy Inc – that have filed for bankruptcy in the US, makes it difficult for lenders in India to proceed against their assets, even if they are held for companies based in India. Read more

 

Domestic equities extended their gains into a sixth session, driven by information technology stocks, although falls in banks and oil marketing companies capped the rise.

At 1.10 pm, the Sensex was trading up 127.15 points or 0.37 per cent at 34,067.59 and the Nifty up 27.3 points or 0.26 per cent at 10,444.45. Both the indexes were on track for their longest winning streak since January.

 

The Nifty IT index rose as much as 2.9 per cent to its highest since February 2 and was headed for a third consecutive session of gains on a weakening rupee and expectations of positive quarterly results. On Wednesday, it broke above a resistance from its descending trend line, suggesting that there was no more selling pressure.

 

Software services exporter Infosys Ltd will kick-start the January-March corporate results season on Friday.

HCL Technologies Ltd rose as much as 4.4 per cent, Tata Consultancy Services Ltd climbed 3.5 per cent and Infosys gained up to 3 percent.

Investors now await March retail inflation data due after market hours on Thursday for cues about the economy. Retail inflation likely eased to a five-month low in March as increases in food prices slowed once again but remained above the central bank's medium-term target, a Reuters poll found.

 

“Markets are rising in anticipation of earnings coming through. Further, there are early indications of increasing investment that is helping offset some softness in the services side,” said Sunil Sharma, chief investment officer at Sanctum Wealth Management. - Reuters

 

Fortis shares jump over 4%

Shares of Fortis Healthcare surged as Malaysia’s healthcare major IHH Healthcare Berhad is readying a counter bid for Fortis Healthcare's hospitals business. Read more

 

Post-noon trade

The Sensex was trading up by 84.50 points or 0.25 per cent at 34,024.94 and the Nifty up 13.7 points or 0.13 per cent at 10,430.85. IT and TECk stocks were the major gainers on hopes of positive earnings from companies and a weak rupee.

IT stocks jump

IT stocks rose, with the Nifty IT index gaining as much as 2.9 per cent to its highest level since February 2. Infosys Ltd which is due to report results on Friday, rose as much as 2.9 per cent to Rs 1,156.25, its biggest intraday percentage gain in over 6 weeks. Read more

 

Dish TV promoters make open offer

Promoter group entities of Dish TV have made an offer to buy an additional 26 per cent equity stake from public shareholders of the DTH player for Rs 3,701 crore. Read more

 

Organised retailers to see strong growth

Jefferies has initiated coverage on retailers. It says grocery and value apparel segments are best positioned with macro and micro factors turning favourable for the organised retail sector. Read more

 

Oil marketing stocks tumble

Hindustan Petroleum Corp Ltd  fell as much as 3.4 per cent, on track to post losses for a third straight session.  Bharat Petroleum Corp Ltd  dropped as much as 3.5 per cent to Rs 402.4, its lowest since June 2017. Read more

 

 

IDBI Bank falls to 1-week low

Shares of IDBI Bank fell to 1-week low as the Reserve Bank of India has imposed a penalty of Rs 3 crore ($458,715.60) on the bank for failing to comply with the Income Recognition and Asset Classification norms. Read more

 

63 moons' bank account freeze case

Jignesh Shah-promoted 63 moons (formerly Financial Technologies) will move the Bombay High Court today against the Economic Offences Wing of Mumbai’s decision to freeze its operating account, jeopardising its operations.  Read more

 

The Sensex was trading above the crucial 34K-mark on heavy buying in IT and TECk stocks ahead of Infosys results tomorrow. However, traders remained wary ahead of IIP data for February and inflation data for March to be released later today.

The BSE index was up 99.46 points or 0.29 per cent at 34,039.90 and the NSE index up 14.45 points or 0.14 per cent at 10,431.60.

 

Meanwhile, on a net basis, domestic institutional investors had bought shares worth Rs 111.82 crore yesterday, while foreign portfolio investors also bought equities worth Rs 362.30 crore.

Among BSE sectoral indices,  IT index gained the most by 2.71 per cent, followed by TECk 2.12 per cent, consumer durables 0.41 per cent and auto 0.2 per cent. On the other hand, oil & gas index fell 0.97 per cent, metal 0.81 per cent, PSU 0.77 per cent and realty 0.54 per cent.

 

Top five Sensex gainers were TVS, Infosys, Tata Motors, ICICI Bank and Wipro, while the major losers were Dr Reddy's, SBI, Sun Pharma, Adani Ports and Bharti Airtel.

 

Joint venture in power sector

Indian Energy Exchange and Japan Electric Power Exchange have tied up to jointly explore opportunities for a cooperation in electricity market. Read more

 

Gold eases from 11-week high

Spot gold was down 0.2 per cent at $1,350.70 an ounce as of 0319 GMT and US gold futures fell 0.4 per cent to $1,354.5 an ounce. Read more

 

Dollar vs yen

The dollar struggled against the yen as investors sought shelter in the safe-haven Japanese currency on concerns over the possibility of Western military action against Syria. Read more

 

Rupee hits fresh 5-month low

The rupee shed 5 paise to hit a fresh five-month low of 65.36 against the US dollar in early trade following increased demand for the American currency from banks and importers. Read more

 

Asian markets

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.05 per cent in early trade while Japan's Nikkei dropped 0.4 per cent. Read more

 

The Sensex gained for the sixth straight session, reclaiming the crucial 34,000 level briefly in early today, ahead of IIP and inflation data scheduled to be released later in the day.

The government will issue the Index of Industrial Production (IIP) numbers for February and inflation data for March based on consumer price index (CPI) today.

According to brokers, caution ahead of key macroeconomic numbers and mixed sentiment in other Asian markets is likely to sway investor mood.

The BSE index was trading up by 77 points or 0.23 per cent at 34,017.44 and the NSE index up 6.95 points or 0.07 per cent at 10,424.10.

Among BSE sectoral indices, IT index gained the most by 2 per cent, followed by TECk 1.58 per cent, consumer durables 0.41 per cent and capital goods 0.28 per cent. On the other hand, metal index fell 0.67 per cent, oil & gas 0.48 per cent, PSU 0.4 per cent and healthcare 0.33 per cent.

 

Top five Sensex gainers were TCS, Infosys, Wipro, ICICI Bank and Hero MotoCorp, while the major losers were Dr Reddy's, Adani Ports, Sun Pharma, State Bank of India and Bharti Airtel.

What to watch

Reliance Industrial Infrastructure and VST Industries will declare their financial results for the quarter as well as the year ended March 2018, today. Read more

Reliance Industrial

VST Industries

 

What to watch

Mylan and Biocon have agreed to accelerate introduction of adalimumab biosimilar in Europe through Mylan’s in-licensing arrangement with Fujifilm Kyowa Kirin Biologics. Read more

 

 

 

What to watch

Coal India shares will remain in focus as the Union Cabinet has relaxed rules for the company for the extraction of natural gas lying below coal seams in its blocks in a bid to quickly boost production. Read more

 

Generic Engineering

Generic Engineering Construction & Projects has bagged orders worth ₹101.53 crore from reputed clients.  Read more

 

 

Day Trading Guide

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

₹1916 • HDFC Bank

 

₹1123 • Infosys

 

Click here to view the full table

The Sensex opened up by 21.45 points at 33,961.89 against the previous close of 33,940.44 and the Nifty down 13.05 points at 10,404.10 against 10,417.15 as traders remained wary ahead of retail inflation and IIP data to be published later in the day.

US stocks

Wall Street stocks fell on Wednesday as possible US military action against Syria stoked investor concerns about geopolitical risk to the American economy and minutes from the Federal Open Market Committee sparked worries about a more hawkish view on interest-rate increases. Read more

 

Today's stock pick

D-Link India (₹111.9)

Investors with a short-term perspective can buy D-Link (India). After a medium-term downtrend from the January high of ₹153, the stock found support at a significant long-term base of ₹80 in late March. Read more