MARKET WRAP: Sensex loses 162 pts, Nifty ends at 11,605; India VIX jumps 9%

All that happened in markets today

The equity benchmark indices ended a volatile session in the negative territory on Monday as investors awaited cues from March-quarter results starting this week. Besides, sell-off in oil sector and profit-booking in recent gainers also led to the decline in the market. 

The S&P BSE Sensex shed 162 points or 0.42 per cent to close the day at 38,701 with Bajaj Finance being biggest loser and Infosys the top gainer. Out of 30 components of the index, 21 scrips ended in the red and rest nine in the green. 

In the broader market, the S&P BSE MidCap fell 111 points or 0.72 per cent to end at 15,398 while the S&P BSE SmallCap index ended at 14,987, down 59 points or 0.39 per cent. 

Volatility index India VIX jumped over 9  per cent to end at 20.10, indicating a sharp jump in volatility in the market.

The broader Nifty50 index of the National Stock Exchange (NSE) closed below the 11,650 level to settle at 11,604.50, down 61 points or 0.53 per cent. 

SECTOR WATCH

All the sectoral indices on NSE barring IT ended in the red. Realty stocks bled the most, followed by PSU bank and media counters. The Nifty Realty index slipped 2 per cent to end at 270.  

On the other hand, the Nifty IT index ended at 16,028, up 105 points or 0.66 per cent.

BUZZING STOCKS 

NIIT shares surged 20 per cent to Rs 114.50 on the BSE in the intra-day trade after a funds affiliated with Baring Private Equity Asia (BPEA) said that it will buy the company's and promoter entities' 30 per cent stake in NIIT Technologies for about Rs 2,627 crore. The stock ended at Rs 114, up 19 per cent. 

Shares of Lakshmi Vilas Bank (LVB) were locked in the upper circuit for the third straight trading days after rising 5 per cent to Rs 97.35 on the BSE on Monday after the private sector lender announced merger with non-banking finance company Indiabulls Housing Finance (IHF).

Gujarat Gas shares rallied 9 per cent to Rs 168 in intra-day trade on the BSE on Monday, surging 15 per cent in the past three trading days, after the company announced that it has received a grant of authorization for city gas distribution networks. Shares, eventually, ended at Rs 157, 2.05 per cent. 

On the other hand, shares of oil and gas companies fell in the trade. OMCs such as HPCL, BPCL, and IOC slipped up to 4 per cent on BSE. 
 

GLOBAL CUES

Asian shares briefly brushed seven-month peaks on Monday as investors cheered a rebound in US payrolls and hints of more stimulus in China, but caution soon surfaced ahead of what is likely to be a tough US earnings season.

MSCI’s broadest index of Asia-Pacific shares outside Japan went flat having reached its highest since August. Japan’s Nikkei was off 0.1 per cent after reaching its high of the year so far. E-Mini futures for the S&P 500 eased 0.2 per cent and futures pointed to a soft start for the major European bourses.

(With inputs from Reuters)

3:56 PM

Market rundown by Vinod Nair, HoR, Geojit Financial Services

"Domestic markets started this week on a weak note given global cues on account of drag in US-China trade deal and Brexit delays. Investors have turned cautious given rise in oil prices and sharp rally in the last couple of months leading to premium valuation of key indices. Additionally, general elections and start of Q4 earnings season is adding to the cautiousness, we may see some profit-booking in the near-term given sharp run-up in markets."

3:38 PM

Sectoral gainers and losers on NSE

3:38 PM

Top gainers and losers on S&P BSE Sensex

3:36 PM

MARKET AT CLOSE

The S&P BSE Sensex fell 162 points or 0.42 per cent to close at 38,701 while the NSE's Nifty50 index ended at 11,605, down 61 points or 0.53 per cent. 

3:13 PM

NEWS ALERT | Cyient signs MoU with govt to conduct training programmes for flying drones

2:50 PM

ICICI Lombard market-cap nears Rs 50,000-crore mark; stock hits new high

ICICI Lombard General Insurance shares hit an all-time high of Rs 1,057, up 2 per cent, in intra-day trade on the BSE, in an otherwise subdued market on Monday. The stock surpassed its previous high of Rs 1,044 touched on April 1, in intra-day trade. READ MORE

2:41 PM

All sectoral indices are trading in red

2:31 PM

Nifty Realty index is trading over 2% lower

2:20 PM

SpiceJet Elara Capital's top pick in aviation space

We reiterate SpiceJet as our top pick in the aviation sector, due to little competition in regional routes and strong fleet order book. SpiceJet is better placed to hire outgoing Jet Airways pilots, as both carriers are flying similar Boeing-737 aircrafts in domestic routes.

2:15 PM

Foreign portfolio investors rekindle love affair with Indian markets

A year after applying brakes on their investments in India, foreign portfolio investors (FPIs) are once again looking at the country aggressively. So far in 2019, India has been one of the highest recipients of foreign flows among Asian and Emerging Market (EM) economies. Last year, flows into India were tepid as most FPIs had cut their ‘overweight’ stance on India to multi-year lows. READ MORE

2:13 PM

Reliance Securities on Q4 earnings

The Q4FY19 results season with the backdrop of general elections 2019 will a very interesting season. Banking sector will continue to be the critical as it has seen consistent improvement in operating metrics in the last 3 quarters. We estimate an earnings growth of 41% YoY for our coverage universe of 95 stocks which is representative of the broader market excluding the metals and mining sector. Earnings growth excluding BFSI and OMCs will 3% YoY. We estimate NIFTY index earnings growth of 16% YoY for the quarter. Apart from the Banking sector which comes off a very low base of Q4FY18, Cement, IT and Capital goods are expected to deliver robust earnings performance. Consumer sector performance will be driven by the retail sector while automobile sector will continue to remain sluggish.

2:05 PM

Heatmap: S&P BSE Sensex

1:54 PM

Vodafone Idea up over 5.5%

1:44 PM

Top losers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
DLF	187.35	-14.15	-7.02	2674194
REL. COMM.	3.11	-0.16	-4.89	5481370
INDOSTAR CAPITAL	412.60	-16.45	-3.83	9113
H P C L	253.50	-9.90	-3.76	227503
TRENT	340.50	-12.35	-3.50	6622

1:34 PM

Newgen Software climbs 9% to hit fresh high; gains 25% in three weeks

Shares of Newgen Software Technologies hit a new high of Rs 367, up 9 per cent on the BSE in intra-day trade on the back of heavy volumes, in an otherwise subdued market on Monday. The stock of IT consulting and software firm has rallied 25 in the past three weeks, as compared to a 1.7 per cent rise in the S&P BSE Sensex. READ MORE