Sensex ends 139 pts higher ahead of Fed policy outcome; Realty stocks gain

All that happened in the markets today

Sensex, Nifty rose on Wednesday, with financial stocks accounting for nearly half the gains, while investors awaited the outcome of the US Federal Reserve policy meet later in the day.

The Federal Reserve is expected to raise interest rates at its first policy meeting under Chairman Jerome Powell and may signal more hikes are coming in response to tax cuts and government spending that could further stoke a robust US economy.

The US central bank projected late last year that it would lift rates three times in 2018, but some investors believe the fiscal stimulus and recent hints of inflation pressures will push policymakers to add an additional increase to the mix.

In the global markets, a hush settled over financial markets on Wednesday as investors waited to hear how often the Federal Reserve might hike interest rates this year, while the currencies of exporting nations were rattled by fears of a full-blown trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed after four straight days of losses. Japan's Nikkei was closed for a local holiday.

(with Reuters inputs)

3:42 PM

Nifty Realty index ends 0.79% higher

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)	VOLUME
OBEROI REALTY	502.50	482.60	19.90	4.12	1140716
INDBULL.REALEST.	204.30	199.45	4.85	2.43	9093427
GODREJ PROPERT.	739.70	732.30	7.40	1.01	142705
DLF	216.05	215.40	0.65	0.30	3574369
BRIGADE ENTERPR.	255.90	255.25	0.65	0.25	98916

3:38 PM

Sectoral Trend

3:35 PM

BSE Sensex: Airtel, NTPC top gainers of the day, Tata Steel top loser

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 33,136, up 139 points while the broader Nifty50 index settled at 10,155, up 31 points.

3:14 PM

Ashok Leyland moves north after large order for buses

Ashok Leyland was up 1.47% to Rs 148 on BSE after the company said it has bagged an order from The Institute of Road Transport, Tamil Nadu for supply of 2,100 buses. The announcement was made during market hours today. READ MORE

 

3:01 PM

Volume Toppers

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
REL. COMM.	25.45	2.30	9.94	11247694
JP ASSOCIATES	19.50	-0.50	-2.50	7690967
UNITECH	6.07	0.00	0.00	6342765
IDBI BANK	74.95	1.30	1.77	4271013
SUZLON ENERGY	11.30	0.00	0.00	3357190

2:45 PM

Arvind rises on JV with Adient

Arvind rose 1.02% to Rs 391.50 on BSE after the company announced the formation of Adient Arvind Automotive Fabrics, a joint venture that will develop, manufacture and sell automotive fabrics in India. The announcement was made during market hours today. READ MORE

2:32 PM

Kwality recovers on bargain hunting

Kwality was up 1.93% to Rs 87 on BSE, with the stock recovering on bargain hunting after a recent sell-off.

Shares of Kwality had fallen 14.56% in the previous four trading sessions to settle at Rs 85.35 on Tuesday, 20 March 2018, from its close of Rs 99.90 on 14 March 2018. READ MORE

2:15 PM

Sugar stocks gain as Govt scraps export duty

Sugar stocks advanced on BSE after the government on Tuesday, scrapped the 20% export duty on sugar in a bid to lift its domestic price.

KCP Sugar & Industries (up 4.31%), Dwarikesh Sugar Industries (up 1.44%), EID-Parry (India) (up 1.55%), Dhampur Sugar Mills (up 2.45%), Sakthi Sugars (up 2.52%), Rana Sugars (up 2.24%), Balrampur Chini Mills (up 1.45%) and Bajaj Hindusthan Sugar (up 0.79%) gained. Shree Renuka Sugars was flat at Rs 15.50. READ MORE

2:05 PM

Market Check

 

S&P BSE Sensex	33,195.68		0.60%
Nifty 50	10,173.90		0.49%
S&P BSE 200	4,452.09		0.52%
Nifty 500	8,964.80		0.50%
S&P BSE Mid-Cap	16,073.53		0.49%
S&P BSE Small-Cap	17,283.81		0.53%

2:01 PM

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1:49 PM

Powell's Fed likely to raise rates, may upgrade 2018 outlook

 

The Federal Reserve is expected to raise interest rates at its first policy meeting under Chairman Jerome Powell and may signal more hikes are coming in response to tax cuts and government spending that could further stoke a robust US economy.

 

The US central bank projected late last year that it would lift rates three times in 2018, but some investors believe the fiscal stimulus and recent hints of inflation pressures will push policymakers to add an additional increase to the mix.

1:32 PM

Jaypee debt: Supreme Court directs group to deposit Rs 2 billion

 

The Supreme Court on Wednesday directed the Jaypee Associates to deposit Rs 2 billion as a part payment of the amount required to pay the principal amount to 2,800 home buyers seeking refund.

 

A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud said that Rs 1 billion would be deposited by April 15 and the remaining Rs 1 billion by May 10. READ MORE

1:20 PM

Sebi bars Remac Realty, 5 directors for illegal fund raising schemes

 

Sebi has barred Remac Realty and its five directors from the securities market for at least four years for illegal fund raising activities.

 

The four-year ban would be effective from the date of completing the refund to investors.

 

Besides, the watchdog has restrained the five individuals from serving as a director or key managerial personnel at any listed company for four years. READ MORE

1:01 PM

5 factors that may have a bearing on markets in the coming months

 

The Indian equity markets have continued to limp downwards in the aftermath of the PNB scam, and the trends witnessed in the recently concluded by-poll elections are making the markets jittery and sentiments sour. The global markets have somehow shrugged off fears emanating from rising bond yields (which still remain pretty elevated), a rising interest rate cycle (with the FED expected to raise rates by 25bps later this week), cyclical inflationary pressures playing detrimentally on discretionary spending patterns and the narrowing of spreads between the 10yr government paper and riskier asset classes like equities. 

 

For now, liquidity still appears fine and there is no undue cause of concern and visible trends being seen as a shift from equity linked assets to other asset classes. 

 

Click here for 5 factors that can have a bearing on the equity markets in the coming few months: