The domestic indices trimmed morning lossses to end sharply higher on Monday after reports suggested that the United States and China have quietly started negotiations to improve US access to Chinese markets, thereby easing fears of a trade war between the two economic giants.The domestic indices trimmed morning lossses to end sharply higher on Monday after reports suggested that the United States and China have quietly started negotiations to improve US access to Chinese markets, thereby easing fears of a trade war between the two economic giants.
The S&P BSE Sensex ended at 33,066, up 470 points while the broader Nifty50 index settled at 10,131, up 133 points.
Among sectoral indices, the Nifty PSU Bank index ended 4.94% higher led by an over 10% rise in the shares of Canara Bank.
In the week ahead, domestic investors will look forward to the fiscal deficit data to be released on Wednesday. Also, the expiry of the current month futures and options contracts are due on Wednesday and positions will be rolled over to next month.
In the global markets, Japan’s Nikkei erased earlier losses of 1.3 per cent to end 0.7 per cent higher, while MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.4 per cent, flipping back to positive territory from a 0.5 per cent fall.
According to media reports, US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer listed steps that Washington wants China to take in a letter to Liu He, a newly appointed vice premier who oversees China’s economy.
Signs of talk between the two economic giants allayed fear of an escalating trade war, sparked after US President Donald Trump moved to slap tariffs on Chinese goods, on top of import duties on steel and aluminium, prompting a defiant response from Beijing.
(with Reuters inputs)CATCH ALL THE LIVE UPDATES03:40 PMNifty PSU Bank index surges 4.94%. Top gainers:
COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUMECANARA BANK 270.50 244.75 25.75 10.52 16712500BANK OF BARODA 141.50 133.20 8.30 6.23 21473264ST BK OF INDIA 246.50 234.80 11.70 4.98 30362239UNION BANK (I) 91.10 86.85 4.25 4.89 13150328BANK OF INDIA 102.05 97.45 4.60 4.72 1329757903:37 PMSectoral performers of the day
03:36 PMBSE Sensex top gainers and losers of the day
03:32 PMMarket at close The S&P BSE Sensex ended at 33,066, up 470 points while the broader Nifty50 index settled at 10,131, up 133 points.03:23 PMTitan Company shares hit record high of Rs 950 per share
Shares of Titan Company have moved higher to their record high of Rs 950 per share, up 6% on the National Stock Exchange (NSE) after nearly 1% of total equity of the company changed hands in today’s trade so far. The stock surpassed its previous high of Rs 938 recorded on January 9, 2018 in intra-day trade. READ MORE
03:10 PMNifty PSU Bank index gains 4%; SBI, BOB, Canara Bank up over 3% Shares of public sector banks were in focus with Nifty PSU Bank index gaining almost 4%. State Bank of India (SBI), Canara Bank, Bank of Baroda, Syndicate Bank, Union Bank of India and Union Bank of India from Nifty PSU Bank index were up more than 3%, while Indian Bank, Punjab National Bank (PNB), Oriental Bank of Commerce and Andhra Bank up in the range of 1% to 3% on the National Stock Exchange (NSE). READ MORE02:59 PMWorld stocks bounce back from 6 week low on report of US-China trade talks
World stocks came off six-week lows and US stock futures jumped on Monday on optimism that the United States and China are set to begin negotiations on trade, easing fears about a trade war between the world's two largest economies. MSCI's world equity index, which tracks shares in 47 countries, turned positive on the day, having earlier hit its lowest level since February 9, after a Wall Street Journal report that Treasury Secretary Mnuchin was considering a visit to Beijing to begin negotiations. 02:47 PMIndia bonds lose their charm for foreign investors After betting strongly on Indian bonds last year, foreign investors are cutting their holdings as a tumbling rupee erodes their returns and economic risks cloud the outlook of a once-hot emerging market play. With only three trading sessions left in March, foreign investors have sold a net $1.12 billion in Indian debt, the strongest monthly outflow since December 2016, and are now on the verge of turning net sellers for the year so far.02:29 PMBuzzing Stock Adani Enterprises rose 2.46% to Rs 156.05 on BSE after the company said its subsidiary signed a coal mining agreement with NLC India. On the BSE, 3.65 lakh shares were traded in the counter so far compared with average daily volumes of 9.35 lakh shares in the past two weeks02:16 PMBharat Financial gains after assignment transaction
Bharat Financial Inclusion rose 0.58% to Rs 1,080.95 on BSE after company said that it has completed direct assignment transaction of Rs 1391 crore. The announcement was made after market hours on Friday, 23 March 2018. READ MORE
02:01 PMMarket Check
S&P BSE Sensex 32,932.82 Up 1.03% Nifty 50 10,062.00 Up 0.64% S&P BSE 200 4,408.43 Up 0.83% Nifty 500 8,851.50 Up 0.58% S&P BSE Mid-Cap 15,760.05 Up 0.42% S&P BSE Small-Cap 16,858.34 Up 0.34%01:47 PMSebi plans new buyback rules, maximum limit likely to be capped at 25%
Markets regulator Sebi is considering to come out with new norms on share buyback programme, under which maximum limit for share repurchase will be 25 per cent of the company's paid-up capital and other reserves. The company may buy back its shares and other securities from the existing security holders on a proportionate basis through the tender offer; open market via - book building process and stock exchange - and odd-lot holders, senior officials said. READ MORE
01:32 PMOil prices fall as U.S. trade dispute with China looms
Brent and WTI crude oil futures dipped on Monday as concerns of a looming trade dispute between the United States and China weighed on global markets. In Asia, Shanghai crude oil futures debuted strongly in terms of volume as investors and commodity merchants bought into the world's newest financial oil trading instrument. READ MORE01:17 PMFrom valuations to recos: All you need to know about Lemon Tree Hotel IPO
Lemon Tree Hotels, the last initial public offering of the financial year 2017-18 will open for subscription on March 26, 2018, and will stay open till March 28. The price band of the IPO has been kept at Rs 54-56 per share. Equity shares are proposed to be listed on the BSE and the National Stock Exchage (NSE). The global coordinators and book running lead managers to the issue are Kotak Mahindra Capital Company, CLSA India and JP Morgan India. The book running lead manager is YES Securities (India) Limited. READ MORE
01:01 PMJubilant FoodWorks shares hit record high; zoom 155% in 9-months
Shares of Jubilant FoodWorks hit a new high of Rs 2,351 per share, up 3% on the BSE in otherwise range-bound market. The stock surpassed its previous high of Rs 2,330 recorded on January 23, 2018 in intra-day trade. In past three weeks, Jubilant FoodWorks has outperformed the market by surging 17% after the company formed a joint venture with Golden Harvest QSR Ltd to launch Domino’s Pizza in Bangladesh. On comparison, the S&P BSE Sensex was down 3.3% during the same period. READ MORE12:46 PMInterview of the day Foreign investors will continue to sell Indian equities: Geoffrey Dennis
With the markets already correcting nearly 10 per cent from their peak levels seen in January 2018, Geoffrey Dennis, head of global emerging markets equity strategy at UBS, tells Puneet Wadhwa the company downgraded India from overweight to neutral earlier this year. The concern, he says, was very high valuations. READ MOREgeoffrey dennis, UBS Geoffrey Dennis, Head of global emerging markets equity strategy at UBS12:30 PMVolume growth should hold up FMCG P/E multiples: Analysts at Credit Suisse
The BSE FMCG (fast moving consumer goods) index has outperformed the Sensex in six out of the last 10 financial years, including year-to-date performance in FY18. The strong show of the consumer sector is on the back of multiple re-rating rather than earnings growth. Thus, while earnings growth for the top consumer stocks has been 13 per cent, their returns have been a sharper 24 per cent. READ MORE
12:15 PMIndian companies raise over Rs 580 bn via QIP during Apr-Jan: Sebi
Indian firms mobilised more than Rs 580 billion by issuing shares to institutional investors during April-January of the current fiscal, over 12-fold rise from the year-ago period. In comparison, they had mopped-up Rs 46.64 billion in the corresponding period of 2016-17 fiscal. READ MORE
12:00 PMMarkets at noon
S&P BSE Sensex 32,602.70 Up 0.02% Nifty 50 9,985.35 Up -0.13% S&P BSE 200 4,369.84 Up -0.05% Nifty 500 8,789.70 Up -0.13% S&P BSE Mid-Cap 15,654.41 Up -0.25% S&P BSE Small-Cap 16,718.56 Up -0.49%11:45 AMOil & gas shares under pressure Shares of state-owned oil & gas companies including oil marketing companies (OMCs) were under pressure with the S&P BSE Oil & Gas index falling nearly 2% on the BSE. GAIL India, Hindustan Petroleum Corporation (HPCL), Indraprastha Gas, Bharat Petroleum Corporation (BPCL), Oil India and Petronet LNG were down 2% to 5% on the BSE. READ MORE11:30 AMTOP BSE500 GAINERS
COMPANY PRICE() CHG() CHG(%) VOLUMEMMTC 58.40 3.80 6.96 510449CADILA HEALTH. 389.00 19.05 5.15 57134JBF INDS. 98.30 3.35 3.53 20684FUTURE LIFESTYLE 400.00 12.05 3.11 8591BATA INDIA 728.35 20.40 2.88 2520411:14 AMWipro shares hit 8-month low, slip 4% in intra-day
Shares of Wipro hit an over eight month low of Rs 274 per share, down 4%, extending its 3% decline on the BSE in past two sessions. The stock of information technology (IT) company was trading at its lowest level since July 20, 2017.
In past three months, Wipro has underperformed the market by falling 10% as compared to 4% decline in the S&P BSE Sensex. READ MORE11:00 AMCorrections and valuations: Scams, banking crisis may keep markets subdued
On March 11, I had speculated that the stock market could be due for a steep correction. Conditions for a big trend reversal are visible, including very high valuations, scams, banking crisis, and political uncertainty. READ MORE10:46 AMLTCG tax and trade war: Markets head for worst 2-month drop since FY16
Indian equities are headed for the worst two-month drop since March 2016 amid escalating trade tensions globally and domestic concerns, such as political uncertainty, the banking fraud, and the rollout of the long-term capital gains (LTCG) tax. READ MORE10:30 AMNegative returns on SIPs shouldn't worry retail investors in India
When Sonam Thakral, 25, a Noida-based human resource professional looked up the return from her systematic investment plan (SIP) in an equity fund, which she had started last year, she was dismayed to find that it had turned negative. Like Thakral, retail investors across the country, especially those who entered the markets in the past year through the SIP route, are a worried lot today as their statements turn red. After all, fund managers have been touting this as the best way to invest in the stock markets for a long time. READ MORE
10:16 AMCadila Healthcare gains 4% on USFDA nod for Metoprolol Succinate tablets
Cadila Healthcare was trading 4.4% higher at Rs 386 on the BSE in otherwise subdued market after the company said that Zydus Cadila has received final approval from the US regulator for Metoprolol Succinate extended-release tablets.
The drug is used to treat chest pain, heart failure and high blood pressure. Lowering high blood pressure helps prevent strokes, heart attacks and kidney problems. READ MORE10:01 AMMarket Check
S&P BSE Sensex 32,581.48 Up -0.05% Nifty 50 9,992.55 Up -0.06% S&P BSE 200 4,369.06 Up -0.07% Nifty 500 8,804.70 Up 0.04% S&P BSE Mid-Cap 15,687.55 Up -0.04% S&P BSE Small-Cap 16,794.71 Up -0.04%09:43 AMSebi board to vet National Stock Exchange colocation probe report
The Securities and Exchange Board of India (Sebi) has completed its investigation of 20 brokers in the National Stock Exchange (NSE) colocation (colo) controversy. The regulator in August last year had ordered a joint forensic audit to probe the brokers, who had allegedly gained unfair access to trading data feed between December 2012 and May 2014. READ MORE
09:26 AMVolume Toppers
COMPANY PRICE() CHG() CHG(%) VOLUMEREL. COMM. 22.90 0.15 0.66 908168GMR INFRA. 16.85 0.15 0.90 293233INDBULL.REALEST. 196.35 4.90 2.56 249752H D I L 39.95 0.30 0.76 244025IDEA CELLULAR 77.65 0.00 0.00 11273409:18 AMSectoral Trend
The S&P BSE Sensex ended at 33,066, up 470 points while the broader Nifty50 index settled at 10,131, up 133 points.
Among sectoral indices, the Nifty PSU Bank index ended 4.94% higher led by an over 10% rise in the shares of Canara Bank.
In the week ahead, domestic investors will look forward to the fiscal deficit data to be released on Wednesday. Also, the expiry of the current month futures and options contracts are due on Wednesday and positions will be rolled over to next month.
In the global markets, Japan’s Nikkei erased earlier losses of 1.3 per cent to end 0.7 per cent higher, while MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.4 per cent, flipping back to positive territory from a 0.5 per cent fall.
According to media reports, US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer listed steps that Washington wants China to take in a letter to Liu He, a newly appointed vice premier who oversees China’s economy.
Signs of talk between the two economic giants allayed fear of an escalating trade war, sparked after US President Donald Trump moved to slap tariffs on Chinese goods, on top of import duties on steel and aluminium, prompting a defiant response from Beijing.
(with Reuters inputs)CATCH ALL THE LIVE UPDATES03:40 PMNifty PSU Bank index surges 4.94%. Top gainers:
COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUMECANARA BANK 270.50 244.75 25.75 10.52 16712500BANK OF BARODA 141.50 133.20 8.30 6.23 21473264ST BK OF INDIA 246.50 234.80 11.70 4.98 30362239UNION BANK (I) 91.10 86.85 4.25 4.89 13150328BANK OF INDIA 102.05 97.45 4.60 4.72 1329757903:37 PMSectoral performers of the day
03:36 PMBSE Sensex top gainers and losers of the day
03:32 PMMarket at close The S&P BSE Sensex ended at 33,066, up 470 points while the broader Nifty50 index settled at 10,131, up 133 points.03:23 PMTitan Company shares hit record high of Rs 950 per share
Shares of Titan Company have moved higher to their record high of Rs 950 per share, up 6% on the National Stock Exchange (NSE) after nearly 1% of total equity of the company changed hands in today’s trade so far. The stock surpassed its previous high of Rs 938 recorded on January 9, 2018 in intra-day trade. READ MORE
03:10 PMNifty PSU Bank index gains 4%; SBI, BOB, Canara Bank up over 3% Shares of public sector banks were in focus with Nifty PSU Bank index gaining almost 4%. State Bank of India (SBI), Canara Bank, Bank of Baroda, Syndicate Bank, Union Bank of India and Union Bank of India from Nifty PSU Bank index were up more than 3%, while Indian Bank, Punjab National Bank (PNB), Oriental Bank of Commerce and Andhra Bank up in the range of 1% to 3% on the National Stock Exchange (NSE). READ MORE02:59 PMWorld stocks bounce back from 6 week low on report of US-China trade talks
World stocks came off six-week lows and US stock futures jumped on Monday on optimism that the United States and China are set to begin negotiations on trade, easing fears about a trade war between the world's two largest economies. MSCI's world equity index, which tracks shares in 47 countries, turned positive on the day, having earlier hit its lowest level since February 9, after a Wall Street Journal report that Treasury Secretary Mnuchin was considering a visit to Beijing to begin negotiations. 02:47 PMIndia bonds lose their charm for foreign investors After betting strongly on Indian bonds last year, foreign investors are cutting their holdings as a tumbling rupee erodes their returns and economic risks cloud the outlook of a once-hot emerging market play. With only three trading sessions left in March, foreign investors have sold a net $1.12 billion in Indian debt, the strongest monthly outflow since December 2016, and are now on the verge of turning net sellers for the year so far.02:29 PMBuzzing Stock Adani Enterprises rose 2.46% to Rs 156.05 on BSE after the company said its subsidiary signed a coal mining agreement with NLC India. On the BSE, 3.65 lakh shares were traded in the counter so far compared with average daily volumes of 9.35 lakh shares in the past two weeks02:16 PMBharat Financial gains after assignment transaction
Bharat Financial Inclusion rose 0.58% to Rs 1,080.95 on BSE after company said that it has completed direct assignment transaction of Rs 1391 crore. The announcement was made after market hours on Friday, 23 March 2018. READ MORE
02:01 PMMarket Check
S&P BSE Sensex 32,932.82 Up 1.03% Nifty 50 10,062.00 Up 0.64% S&P BSE 200 4,408.43 Up 0.83% Nifty 500 8,851.50 Up 0.58% S&P BSE Mid-Cap 15,760.05 Up 0.42% S&P BSE Small-Cap 16,858.34 Up 0.34%01:47 PMSebi plans new buyback rules, maximum limit likely to be capped at 25%
Markets regulator Sebi is considering to come out with new norms on share buyback programme, under which maximum limit for share repurchase will be 25 per cent of the company's paid-up capital and other reserves. The company may buy back its shares and other securities from the existing security holders on a proportionate basis through the tender offer; open market via - book building process and stock exchange - and odd-lot holders, senior officials said. READ MORE
01:32 PMOil prices fall as U.S. trade dispute with China looms
Brent and WTI crude oil futures dipped on Monday as concerns of a looming trade dispute between the United States and China weighed on global markets. In Asia, Shanghai crude oil futures debuted strongly in terms of volume as investors and commodity merchants bought into the world's newest financial oil trading instrument. READ MORE01:17 PMFrom valuations to recos: All you need to know about Lemon Tree Hotel IPO
Lemon Tree Hotels, the last initial public offering of the financial year 2017-18 will open for subscription on March 26, 2018, and will stay open till March 28. The price band of the IPO has been kept at Rs 54-56 per share. Equity shares are proposed to be listed on the BSE and the National Stock Exchage (NSE). The global coordinators and book running lead managers to the issue are Kotak Mahindra Capital Company, CLSA India and JP Morgan India. The book running lead manager is YES Securities (India) Limited. READ MORE
01:01 PMJubilant FoodWorks shares hit record high; zoom 155% in 9-months
Shares of Jubilant FoodWorks hit a new high of Rs 2,351 per share, up 3% on the BSE in otherwise range-bound market. The stock surpassed its previous high of Rs 2,330 recorded on January 23, 2018 in intra-day trade. In past three weeks, Jubilant FoodWorks has outperformed the market by surging 17% after the company formed a joint venture with Golden Harvest QSR Ltd to launch Domino’s Pizza in Bangladesh. On comparison, the S&P BSE Sensex was down 3.3% during the same period. READ MORE12:46 PMInterview of the day Foreign investors will continue to sell Indian equities: Geoffrey Dennis
With the markets already correcting nearly 10 per cent from their peak levels seen in January 2018, Geoffrey Dennis, head of global emerging markets equity strategy at UBS, tells Puneet Wadhwa the company downgraded India from overweight to neutral earlier this year. The concern, he says, was very high valuations. READ MOREgeoffrey dennis, UBS Geoffrey Dennis, Head of global emerging markets equity strategy at UBS12:30 PMVolume growth should hold up FMCG P/E multiples: Analysts at Credit Suisse
The BSE FMCG (fast moving consumer goods) index has outperformed the Sensex in six out of the last 10 financial years, including year-to-date performance in FY18. The strong show of the consumer sector is on the back of multiple re-rating rather than earnings growth. Thus, while earnings growth for the top consumer stocks has been 13 per cent, their returns have been a sharper 24 per cent. READ MORE
12:15 PMIndian companies raise over Rs 580 bn via QIP during Apr-Jan: Sebi
Indian firms mobilised more than Rs 580 billion by issuing shares to institutional investors during April-January of the current fiscal, over 12-fold rise from the year-ago period. In comparison, they had mopped-up Rs 46.64 billion in the corresponding period of 2016-17 fiscal. READ MORE
12:00 PMMarkets at noon
S&P BSE Sensex 32,602.70 Up 0.02% Nifty 50 9,985.35 Up -0.13% S&P BSE 200 4,369.84 Up -0.05% Nifty 500 8,789.70 Up -0.13% S&P BSE Mid-Cap 15,654.41 Up -0.25% S&P BSE Small-Cap 16,718.56 Up -0.49%11:45 AMOil & gas shares under pressure Shares of state-owned oil & gas companies including oil marketing companies (OMCs) were under pressure with the S&P BSE Oil & Gas index falling nearly 2% on the BSE. GAIL India, Hindustan Petroleum Corporation (HPCL), Indraprastha Gas, Bharat Petroleum Corporation (BPCL), Oil India and Petronet LNG were down 2% to 5% on the BSE. READ MORE11:30 AMTOP BSE500 GAINERS
COMPANY PRICE() CHG() CHG(%) VOLUMEMMTC 58.40 3.80 6.96 510449CADILA HEALTH. 389.00 19.05 5.15 57134JBF INDS. 98.30 3.35 3.53 20684FUTURE LIFESTYLE 400.00 12.05 3.11 8591BATA INDIA 728.35 20.40 2.88 2520411:14 AMWipro shares hit 8-month low, slip 4% in intra-day
Shares of Wipro hit an over eight month low of Rs 274 per share, down 4%, extending its 3% decline on the BSE in past two sessions. The stock of information technology (IT) company was trading at its lowest level since July 20, 2017.
In past three months, Wipro has underperformed the market by falling 10% as compared to 4% decline in the S&P BSE Sensex. READ MORE11:00 AMCorrections and valuations: Scams, banking crisis may keep markets subdued
On March 11, I had speculated that the stock market could be due for a steep correction. Conditions for a big trend reversal are visible, including very high valuations, scams, banking crisis, and political uncertainty. READ MORE10:46 AMLTCG tax and trade war: Markets head for worst 2-month drop since FY16
Indian equities are headed for the worst two-month drop since March 2016 amid escalating trade tensions globally and domestic concerns, such as political uncertainty, the banking fraud, and the rollout of the long-term capital gains (LTCG) tax. READ MORE10:30 AMNegative returns on SIPs shouldn't worry retail investors in India
When Sonam Thakral, 25, a Noida-based human resource professional looked up the return from her systematic investment plan (SIP) in an equity fund, which she had started last year, she was dismayed to find that it had turned negative. Like Thakral, retail investors across the country, especially those who entered the markets in the past year through the SIP route, are a worried lot today as their statements turn red. After all, fund managers have been touting this as the best way to invest in the stock markets for a long time. READ MORE
10:16 AMCadila Healthcare gains 4% on USFDA nod for Metoprolol Succinate tablets
Cadila Healthcare was trading 4.4% higher at Rs 386 on the BSE in otherwise subdued market after the company said that Zydus Cadila has received final approval from the US regulator for Metoprolol Succinate extended-release tablets.
The drug is used to treat chest pain, heart failure and high blood pressure. Lowering high blood pressure helps prevent strokes, heart attacks and kidney problems. READ MORE10:01 AMMarket Check
S&P BSE Sensex 32,581.48 Up -0.05% Nifty 50 9,992.55 Up -0.06% S&P BSE 200 4,369.06 Up -0.07% Nifty 500 8,804.70 Up 0.04% S&P BSE Mid-Cap 15,687.55 Up -0.04% S&P BSE Small-Cap 16,794.71 Up -0.04%09:43 AMSebi board to vet National Stock Exchange colocation probe report
The Securities and Exchange Board of India (Sebi) has completed its investigation of 20 brokers in the National Stock Exchange (NSE) colocation (colo) controversy. The regulator in August last year had ordered a joint forensic audit to probe the brokers, who had allegedly gained unfair access to trading data feed between December 2012 and May 2014. READ MORE
09:26 AMVolume Toppers
COMPANY PRICE() CHG() CHG(%) VOLUMEREL. COMM. 22.90 0.15 0.66 908168GMR INFRA. 16.85 0.15 0.90 293233INDBULL.REALEST. 196.35 4.90 2.56 249752H D I L 39.95 0.30 0.76 244025IDEA CELLULAR 77.65 0.00 0.00 11273409:18 AMSectoral Trend
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