MARKETS ON MONDAY: Sensex ends 286 pts higher, Nifty reclaims 10,200

Benchmark indices rose on Monday, the first trading day of the new financial year, tracking gains in global equity markets, while auto stocks such as Tata Motors led gains after posting strong sales numbers for March.Benchmark indices rose on Monday, the first trading day of the new financial year, tracking gains in global equity markets, while auto stocks such as Tata Motors led gains after posting strong sales numbers for March.
Asian stocks began the new quarter with mild gains after Wall Street surged on Thursday, ending a tumultuous first quarter on a high note. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.13 per cent.
The Nifty auto index gained as much as 2.27 per cent. Tata Motors rose 4.2 per cent, after posting a 35 per cent jump in March domestic vehicle sales. India’s largest automaker Maruti Suzuki India climbed 1.7 per cent after reporting a 14.9 per cent rise in March vehicle sales.
Meanwhile, ICICI Bank plunged 6 per cent to a five-month low after media reported its lending practices were the subject of a police investigation and after the central bank fined the lender for not sticking to certain rules around the sale of government securities.
The domestic investors will now look forward to the Reserve Bank of India's first bi-monthly policy decision of FY19 to be held later this week.
(with inputs from Reuters)CATCH ALL THE LIVE UPDATES03:45 PMNifty Auto settles 2.19% higher. Top gainers:
COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUMETVS MOTOR CO. 660.45 619.30 41.15 6.64 1719021MOTHERSON SUMI 323.40 310.95 12.45 4.00 2583146TATA MOTORS 339.15 326.85 12.30 3.76 9868202TATA MOTORS-DVR 189.45 183.30 6.15 3.36 1229344BHARAT FORGE 721.00 699.65 21.35 3.05 157441003:41 PMNifty Pharma ends 3.14% higher. Top gainers:
COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUMEAUROBINDO PHARMA 594.70 557.85 36.85 6.61 3094427CIPLA 578.00 545.45 32.55 5.97 2823862LUPIN 779.00 735.85 43.15 5.86 2123664GLENMARK PHARMA. 553.00 526.30 26.70 5.07 501278SUN PHARMA.INDS. 507.50 495.10 12.40 2.50 292269903:37 PMNifty sectoral performers of the day
03:34 PMBSE Sensex: Top gainers and losers of the day
03:32 PMMarket at close The S&P BSE Sensex ended at 33,255, up 287 points while the broader Nifty50 index settled at 10,212, up 98 points.03:25 PMAuto shares on top gear post March sales
Shares of automobiles including auto ancillaries companies were in focus with Nifty Auto index gaining nearly two percentage points after auto majors reported good set of sales numbers for the month ended March 2018. READ MORE03:14 PMHDFC Life enters top-30 market cap league HDFC Standard Life Insurance (HDFC Life) entered the elite club of 30 stocks with highest market capitalization (market-cap) on the BSE, as its share price jumped nearly 7% on Monday in intra-day trade, extending its 7.4% gain in past five trading sessions. HDFC Life hit an intra-day high of Rs 484 on the BSE, trading close to its highest level since listing on November 17, 2017, up 66% against issue price of Rs 290 per share. It touched record high of Rs 493.75 on January 1, 2018 in intra-day deal. READ MORE03:01 PMStocks at 52-week high
COMPANY PRICE() 52 WK HIGH CHG() CHG(%)AVENUE SUPER. 1378.00 1393.00 51.00 3.84BHARAT FINANCIAL 1105.20 1114.75 7.65 0.70BRITANNIA INDS. 5102.20 5114.75 130.75 2.63DILIP BUILDCON 1094.95 1122.00 93.80 9.37FIRSTSOUR.SOLU. 54.50 55.65 1.50 2.8302:45 PMVolume Toppers
COMPANY PRICE() CHG() CHG(%) VOLUMEFEDERAL BANK 90.25 0.90 1.01 10499424JP ASSOCIATES 19.70 0.75 3.96 5538643KWALITY 54.35 -6.00 -9.94 4122166SOUTH IND.BANK 23.35 0.55 2.41 3412362IDBI BANK 70.75 -1.50 -2.08 334518002:32 PMMahindra tractor sales up 46.23 % pc in March at 28,277 units
Home-grown auto major Mahindra and Mahindra today reported 46.23 per cent jump in total tractor sales at 28,277 units in March. The company had sold 19,337 units in March 2017, Mahindra and Mahindra said in a statement. READ MORE
02:15 PMEscorts shares rise 7% on strong tractor sales in March
Shares of Escorts have moved higher by 7% to Rs 874 per share on the BSE in intra-day trade after the company reported a strong 65% year on year (yoy) growth in tractor sales of 11,790 units in March 2018. It had sold 7,079 tractors in March 2017. READ MORE02:00 PMMarket Check
 S&P BSE Sensex 33,185.84 Up 0.66% Nifty 50 10,189.85 Up 0.75% S&P BSE 200 4,468.56 Up 0.81% Nifty 500 8,998.30 Up 0.97% S&P BSE Mid-Cap 16,117.79 Up 0.97% S&P BSE Small-Cap 17,327.31 Up 1.96%01:45 PMNew Nifty50 constituents trade mixed: Bajaj Finserv up 1.5%, Titan flat New Nifty50 constituents, Bajaj Finserv, Grasim Industries and Titan Company were trading mixed on Monday after inclusion in the benchmark index Nifty50. While Bajaj Finserv and Grasim Industries gained as much as 1.8% and 3.7% respectively, Titan Company rose only 0.5% in intra-day trade. On the other hand, Ambuja Cements (up 1.4%) Aurobindo Pharma (up 4.8%) and Bosch (up 2.4%) also rose, despite exclusion from the index. READ MORE01:30 PMDividend yield stocks: How to navigate if the market turns bearish?
When the markets are down and stocks are cheap, it is an opportunity to look for high dividend yield stocks. As long as you hold the stock concerned and as long as the company continues to pay dividends at the same rate, your dividend yield is fixed for life, even if the market price of the stock changes subsequently. READ MORE01:16 PMBSE to auction investment limits for govt bonds worth Rs 110 bn
Leading stock exchange BSE will auction investment limits for foreign investors to purchase government bonds worth over Rs 110 billion on Tuesday. The auction for investment limits for such securities has been receiving a good response from foreign portfolio investors (FPIs) in recent past.
The auction will be conducted on BSE's ebidxchange platform from 3:30 pm to 5:30 pm, after the close of market hours, the bourse said in a notice today. READ MORE
01:03 PMNifty price-to-earnings down 10%, still above long-term average
The benchmark Nifty index currently trades at 16.8 times its 12-month forward earnings estimate. At January-end, when the index had climbed to a record high, the 50-share blue-chip index traded at a price-to-earnings (P/E) multiple of 18.6 times. The 10-year average P/E for the Nifty index is 15 times — nearly 14 per cent below the current level. Analysts say current market levels are close to their ‘fair-value’ and if the correction extends by another 5 to 10 per cent, valuations become ‘attractive’. READ MORE12:45 PMCan Fin Homes falls 9% after Canara Bank calls off divestment plan
Shares of Can Fin Homes have dipped 9% to Rs 441 per share, extending its 7% fall in past two trading sessions on the BSE after the Canara Bank, the promoter of the company called off move to divest its entire shareholding in housing finance subsidiary after receiving lower than expected price quotation. READ MORE12:31 PMKarda Constructions makes weak debut; lists 24% below issue price
Karda Constructions (KCL) has made a weak debut on the bourses by listing at Rs 136, 24% lower against its issue price of Rs 180 per share on the National Stock Exchange (NSE) and the BSE. The stock hit a low of Rs 129 on the NSE after its listing. READ MORE12:16 PMKwality down for third straight day; plunges 34% in three days
Shares of Kwality were down for the third straight trading day, falling 10% at Rs 54.35 per share, also its fresh 32-month low on the BSE on back of heavy volumes. In past three sessions, the stock of packaged foods company has plunged 34% from Rs 82.15 on Monday, March 26, 2018. READ MORE12:02 PMMarkets at noon
 S&P BSE Sensex 33,139.41 Up 0.52% Nifty 50 10,165.40 Up 0.51% S&P BSE 200 4,458.15 Up 0.58% Nifty 500 8,971.00 Up 0.66% S&P BSE Mid-Cap 16,055.38 Up 0.58% S&P BSE Small-Cap 17,270.49 Up 1.62%11:47 AMTitan helps Rakesh Jhunjhunwala beat markets in the March quarter
 A 10 per cent rise in the stocks of Titan Company during January – March 2018 (Q4FY18) helped Rakesh Jhunjhunwala outperform the market in March quarter, as his net worth declined less than 1 per cent compared to three per cent fall recorded by the S&P BSE Sensex. As on March 28, 2018, the combined net worth of Rakesh Jhunjhunwala and his family stood at Rs 130.21 billion, down 0.8 per cent or Rs 1.09 billion, as compared to Rs 131.30 billion at the end of December 31, 2017. READ MORE
11:30 AMSandhar Techno makes decent debut; lists 4% higher from issue price Sandhar Technologies has made a decent debut by listing at Rs 346, 4% higher against its issue price of Rs 332 per share on the National Stock Exchange (NSE). The stock opened at Rs 345 on the BSE. The Rs 5,125 million initial public offer (IPO) of auto component maker Sandhar Technologies was subscribed 6.19 times. The IPO received bids for 67 million shares against the total issue size of 10.87 million shares, data available with the stock exchanges show. READ MORE11:23 AMStocks near 52-week high
COMPANY LATEST 52 WK HIGH PREV HIGH PREV DATE VOLUMEBRITANNIA INDS. 5043.00 5057.25 4971.45 27-FEB-2018 1152HEXAWARE TECH. 391.70 394.60 375.35 24-JAN-2018 35537INDUSIND BANK 1802.30 1818.00 1795.60 12-SEP-2017 31603THOMAS COOK (I) 288.95 291.85 282.80 15-MAR-2018 173310CYIENT 686.75 698.00 688.80 28-MAR-2018 469511:21 AMMARKET COMMENT Jimeet Modi, CEO & Founder of Samco Securities
Market is undergoing through a state of rapid iteration with capital shifting from fundamentally weak businesses to stronger ones, particularly those companies that are catering to India-focused markets. Export-oriented businesses are expected to take a hit going forward in the new world order.
Currently domestic factors have taken a back seat, but beginning new financial year, when results are rolled out, the market will take important clues after assessing the corporate scorecard till that time market is expect to remain subdued to range bound. Selective investments in only bluest of the blue stocks can be done at these levels from long-term perspective11:18 AMMARKET COMMENT Lakshmi Iyer, CIO- Debt & Head of Products, Kotak Mutual Fund
The upcoming MPC meeting holds significance in terms of the guidance the RBI has to offer. General market view is that of an extended pause. Market would also want to see the MPCs reaction to the recent axe in government borrowing program and its view on the fisc thereof. Lastly, though our view is that of status quo, it would be interesting to see the MPCs accompanying stance in the light of moderation in CPI domestically and its reaction to the recent global developments11:16 AMWhere to invest in FY19? Experts suggest banking, oil & gas, capital goods The financial year 2017-18 (FY18) ended with S&P BSE Sensex index rising 12%, compared with a 16% rally in the previous year. On the other hand, the Nifty50 index gained 11% in FY18, as against 18% in the previous corresponding period. As the new financial year 2018-19 (FY19) kicks off today, most analysts expect the markets to remain choppy over the next one year. Upcoming state elections, oil prices, monetary policy of global central banks, geopolitical situation and the fear of an escalation in global trade war are some of the key concerns that can the markets volatile over the next 12 months, experts say. READ MORE
Photo: Shutterstock11:15 AMMotilal Oswal Research on Shree Cement
Shree Cement is likely to deliver EBITDA CAGR of 29% over FY18-20, led by healthy volume growth (driven by rapid capacity addition) and pricing improvement (driven by higher realisations in the underlying markets in the north). We, thus, value the stock at 15.5x FY20E EV/EBITDA to arrive at a target price of Rs 18,867. Maintain Buy.
(Source: MOSL report)11:14 AMMUST READ Churn in constituents to have negligible impact on Nifty's fundamentals
Grasim Industries, Titan, and Bajaj Finserv will enter the Nifty50 index from April 2, replacing Ambuja Cement, Aurobindo Pharma, and Bosch. Following the rejig, weight of the consumer discretionary sector on the index will increase by 82 basis points (bps), while that of non-banking finance companies (NBFCs) will go up by 61 bps and cement by 60 bps, analysts said.
On the other hand, the exits will lead to a fall of 55 bps, 47 bps and 34 bps, respectively, in the weight of auto, pharma and private banks. The number of financials will increase to 11 and their weight will increase to 36.6 per cent from 36.4 per cent. READ MORE HERE11:02 AMMarket Check
 S&P BSE Sensex 33,043.05 Up 0.23% Nifty 50 10,142.60 Up 0.29% S&P BSE 200 4,447.54 Up 0.34% Nifty 500 8,955.95 Up 0.49% S&P BSE Mid-Cap 16,024.54 Up 0.39% S&P BSE Small-Cap 17,226.25 Up 1.36%10:59 AMCOMMENT Will F2018 revised deficit target be met?
To meet the revised fiscal deficit target of 3.5% of GDP, expenditure growth would have to decline by 5.5% YoY alongside receipts growth of 14% for the month of March, by our estimates. We note that receipts growth could surprise on the upside considering the strong growth momentum and very favourable base effects, and hence the resulting required decline in expenditure could be smaller than indicated.
From a broader perspective, we expect the government to manage the expenditure growth so that it will be able to achieve the fiscal deficit target. Moreover, considering that the government is only to borrow 48% of its overall borrowing in the first half of the fiscal year, it does indicate that expenditure growth could be somewhat constrained in the coming months. The impact on GDP growth should, however, be offset by stronger private sector demand, which has remained robust in early 2018.
(Source: Morgan Stanley report)