Sensex ends 284 points down, Nifty at 10,154; PSU bank index crack over 3%

All that happened in the markets today.

9:32 AM

Volume Toppers in BSE 500 index

COMPANY NAME	LATEST	HIGH	LOW	CHG ()	CHG(%)	VALUE ( CR)	VOLUME
IDBI BANK	84.15	84.40	80.15	1.65	2.00	8.57	1028914
SUZLON ENERGY	11.94	12.15	11.93	-0.29	-2.37	1.04	867301
REL. COMM.	26.50	26.60	26.00	0.15	0.57	2.11	801813
JP ASSOCIATES	15.95	16.00	15.75	-0.20	-1.24	1.22	771677
UNITECH	6.66	6.75	6.53	-0.07	-1.04	0.33	496810
PUNJAB NATL.BANK	96.15	96.55	95.05	-1.60	-1.64	4.67	486784

9:25 AM

MUST READ: Rupee, rising yields driving foreign portfolio investors away

 

Foreign investors have slowly started liquidating some of their holdings in local debt paper, as rising bond yields and the rupee's weakening bias make their investment not lucrative enough at a time when the US economy shows early signs of recovery.

 

It is not that they are liquidating en masse; utilisation of their permitted limits show there is very little space left to invest. And, this is also a threat for local investors. In February, foreign portfolio investors (FPIs) sold $421 million in debt; in March so far, they have sold $133 mn. However, in January, they had bought $1.5 billion in debt. READ MORE

9:24 AM

BSE Smallcap: Finolex Industries, Lumax, Teamlease among top gainers

9:22 AM

BSE Midcap: Vakrangee up nearly 5%

9:22 AM

Nifty IT: Only sectoral index trading in green

9:20 AM

Nifty PSU Bank index extends fall, slips nearly 1%

9:19 AM

Sectoral Trend

9:18 AM

Sensex Heatmap

9:17 AM

Markets at open

At 9:17 am, the S&P BSE Sensex was trading at 33,199, down 111 points while the broader Nifty50 index was ruling at 10,204, down 45 points

9:15 AM

Stocks in News

Dilip Buildcon received LoA from NHAI for new Hybrid Annuity Project valued at Rs. 917 Cr. in the State of Jharkhand

Ashoka Buildcon’s subsidiary ACL has emerged as Lowest Bidder for 3 projects aggregating to Rs. 2,991cr

Sadbhav Infra declared L1 for highway project worth Rs 934 crore in Karnataka

TCS has extended its partnership with Virgin Atlantic Airlines for 5 years

Zee Entertainment will make partial redemption (20%) of listed bonus preference shares

JSW Steel - Upgraded bond rating from Ba3 to Ba2 by Moody's investor service

Airtel acquires the India leg of GBI's India-Middle East-Europe submarine cable

UltraTech Cement - Limit increased to 40% of capital for investment by RPFIs (FII)

Teamlease Services - RBI allows raising FPI limit in Teamlease services to 75 percent from 24 percent

AU Small Bank tied up with Aurionpro Solutions to enhance its digital banking offering corporate internet banking and cash anagement platform for SME, MSMEs and Corporate customers

Speciality Restaurants opened two new restaurants in Mumbai i.e. Sweet Bengal and Zoodles

Rural Electrification Corporation approved the sale of WR-NR Power Transmission Limited, wholly owned subsidiary of the company to Power Grid Corporation

Lumax Auto Technologies to consider stock split on Mar 23

Tata Motors - SEBI asks co to strengthen systems and controls; to conduct an inquiry into results’ leakage

Bal Pharma forms joint venture with Australia-based Akaal Pharma for developing veterinary products

Indian Hotels - Tata Sons to buy 6.64 percent stake in co from promoter entities

Axis Bank says exposure to Nirav Modi, Gitanjali Gems at about Rs 200 crore

(Source: Nirmal Bang)
 

9:12 AM

NIFTY OPTIONS WATCH

 

Additions in OI were seen in 10400, 10300, 10200 strike Calls and at 10200, 10000 strike Puts indicating market is likely to remain under selling pressure in near term.

 

Highest OI build-up is seen at 10500 strike Calls and 10000 strike Puts, to the tune of 4.59mn and 3.71mn respectively.

 

FII AND VIX

 

FIIs were net buyers in Cash to the tune of Rs 620.1 crore. and were net buyers in Index Futures to the tune of Rs 510.64 crore.

 

India VIX increased by 5.52% to close at 16.24 touching an intraday high of 16.44.

 

(Source: Nirmal Bang report)

9:11 AM

MARKET COMMENT: G. Chokkalingam, founder & managing director, Equinomics Research

We believe that the correction in the over-valued mid cap space is not yet over – minimum another Rs.4 lakh crore may be wiped out from the overall market due to further corrections in the over-valued small and mid-cap (SMC) stocks. Unfortunately some of the quality stocks under our coverage are also falling. Global economic cues remain relatively better and the domestic macroeconomic factors are also improving.

For three years in row we had a good time in the markets. Historically, this is a common phenomenon to see correction after such a long bull journey. We visualize two positive developments out of this meltdown and banking scams. The government and the regulator would go a long way in strengthening the banking system going forward. Gullible retail investors would realize the need to focus on value stocks instead of chasing the over-valued and perception driven SMC stocks, and also technology stocks which are engaged in trading of goods & services

9:07 AM

Market Comment by Geojit Financial Services

 

Markets are expected to open flat tracking mixed cues from across Asia. Nifty broke below the range support of 10300 and made a new 2018 low of 10215.9 yesterday. 

 

Stocks to watch

 

Railway wagon manufacturers will be in focus as Ministry decides to give wagon contracts in bulk.

 

Dilip Buildcon: Gets letter of award for Jharkhand road project.

 

Tata Consultancy : Says Virgin Atlantic Airlines extends contract with company.

 

Torrent Pharma readies bid for Sanofi’s European unit Government likely to slash BT Cotton seed price

9:02 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,273.97	-43.23	-0.13
S&P BSE SENSEX 50	10,721.87	+21.61	+0.20
S&P BSE SENSEX Next 50	33,042.29	+57.05	+0.17
S&P BSE 100	10,623.39	+20.67	+0.19
S&P BSE Bharat 22 Index	3,524.42	+17.51	+0.50

9:00 AM

Trump economic adviser Cohn quits after dispute over tariffs:

 

Top White House economic adviser Gary Cohn, a Wall Street banker who opposes hefty steel and aluminum tariffs planned by US President Donald Trump, said on Tuesday that he was resigning.

 

“It has been an honor to serve my country and enact pro-growth economic policies to benefit the American people, in particular, the passage of historic tax reform. I am grateful to the President for giving me this opportunity and wish him and the Administration great success in the future,” Cohn said in a statement issued by the White House.