MARKET WRAP: Sensex rises 89 points, Nifty ends at 11,058; L&T gains 3%

All that happened in the markets today

Benchmark indices ended marginally higher on Thursday led by gains in HDFC Bank, Larsen & Toubro (L&T), ITC, Axis Bank and RIL.

The S&P BSE Sensex ended at 36,725, up 89 points while the broader Nifty50 index settled at 11,058, up 5 points.

Among sectoral indices, the Nifty PSU Bank index ended 1.4 per cent higher with Punjab National Bank (PNB) and Bank of Baroda being the top gainers. The Nifty FMCG index, too, settled 0.6 per cent higher steered by ITC and Hindustan Unilever.

In the broader market, the S&P BSE MidCap index ended 50 points, or 0.34 per cent lower at 14,816, while S&P BSE SmallCap index settled at 14,540, down 16 points, or 0.11 per cent.

BUZZING STOCKS

Shares of Larsen & Toubro (L&T) rose 3 per cent at Rs 1,355 apiece on the BSE in the intra-day trade. In the past three days, the company has secured multiple orders including a large contract from Bangalore Metro Rail Corporation and construction of campus development of IIT Hyderabad. The stock ended at Rs 1,351, up 2.76 per cent on BSE.

Shares of HeidelbergCement India hit a 52-week high of Rs 178 apiece, up 4 per cent on the BSE in the intra-day trade, on back of heavy volumes. The stock surpassed its previous high of Rs 175 recorded on September 11, 2018, on the BSE in the intra-day trade. The stock settled 3.02 per cent higher at Rs 175.70 on the BSE.
 

GLOBAL MARKETS

Asian stocks were mixed Thursday as global growth concerns resurfaced and US equities fell back. The dollar steadied after six days of gains and the yen edged higher.
 

(with Reuters input)

3:51 PM

Sectoral trend on NSE

3:49 PM

Top gainers and losers on S&P BSE Sensex at close

3:33 PM

Market at close

The S&P BSE Sensex ended at 36,725, up 89 points while the broader Nifty50 index settled at 11,058, up 5 points.

3:20 PM

HDFC Life announces interim dividend of Rs 1.63 per equity share for the financial year 2018-19

3:15 PM

HeidelbergCement India hits 52-week high; stock gains 25% post Q3 results

Shares of HeidelbergCement India hit a 52-week high of Rs 178 apiece, up 4 per cent on the BSE, on back of heavy volumes. The stock surpassed its previous high of Rs 175 recorded on September 11, 2018, on the BSE in the intra-day trade. Since February 11, 2019, HeidelbergCement India has outperformed the market by surging 25 per cent after it reported strong earnings for the quarter ended December 2018 (Q3FY19). READ MORE

2:57 PM

Suzlon Energy is trading over 12% lower

2:41 PM

Why India's upcoming general election is good news for the oil market

The largest democratic exercise on Earth is set to give the oil market a shot in the arm. About 875 million Indians will go to polls over the next three months to elect their leader, dwarfing the 158 million Americans who registered to vote in the 2016 US residential elections. Before they vote, they’ll be courted by a slew of competing political parties -- a process that will boost fuel use in a nation where oil demand is already growing at the fastest pace in the world. READ MORE

2:23 PM

Most active stocks by volume (BSE500)

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SUZLON ENERGY	6.99	-0.89	-11.29	14642969
RELIANCE POWER	12.45	0.02	0.16	6554381
PUNJAB NATL.BANK	85.45	3.20	3.89	3509859
VODAFONE IDEA	32.15	0.95	3.04	3505036
REL. COMM.	6.01	-0.06	-0.99	2938235

2:13 PM

Nifty PSU Bank index hits one-month high; PNB, Bank of Baroda up 3%

The shares of public sector banks (PSBs) were trading higher for the sixth straight day, with the Nifty PSU Bank index hitting a one-month high on Thursday in an otherwise subdued market. At 01:05 PM, the Nifty PSU Bank index, the largest gainer among sectoral indices, was up 0.85 per cent, as compared to 0.14 per cent decline in the benchmark Nifty 50 index. The bank index hit an intra-day high of 2,958, its highest level since February 7, 2019. READ MORE

1:54 PM

Comment on Rupee by Rushabh Maru, Research Analyst at Anand Rathi Shares and Stock Brokers

The rupee has appreciated on the back of easing crude oil prices in the international market. There is a lot of optimism regarding a trade deal between the US and China. Having said that, volatility is expected to rise in coming sessions for the rupee as the country is heading towards the general election. There is still a lot of uncertainty regarding a US-China trade deal. Hence, importers are advised to hedge their exposure, given the uncertainty and volatility due to domestic and global factors.

1:44 PM

Markets are already discounting Modi's victory in elections: Analysts

Markets are already pricing in a victory for the Narendra Modi – led National Democratic Alliance (NDA) in the upcoming general elections, analysts say. Even though they may remain volatile in the run-up to the polls as political parties stitch up alliances, the long – term trajectory for the markets remains up, they believe. READ MORE

1:29 PM

NEWS ALERT | Power Grid board approves interim dividend of Rs 5.83/ share to be paid on March 22

1:23 PM

Heatmap: S&P BSE Sensex

1:13 PM

NEWS ALERT | Cabinet approves GoM recommendations for stressed thermal power projects

1:11 PM

NEWS ALERT | Cabinet approves additional Rs 2790 crore to sugar mills