Nifty ends March F&O expiry at 10,113, up a little over 10% in FY18

All that happened in the market today

9:03 AM

Emkay Global on TCS, Infosys

We maintain Tata Consultancy Services (TCS) as our preferred pick among the Tier-I IT Services companies. Given the recent run-up in Technology stocks, we believe that the valuations are now stretched for certain companies as we do not see a meaningful fundamental recovery in growth prospects for FY19. We continue to remain selective in our approach and maintain TCS as our preferred pick among Tier-I IT Services plays. In our opinion, the recent rally offers a good opportunity to exit some of the names such as Infosys, as its discount to TCS would widen further from the current level of 10% to the ideal range of 20-30%, given its inferior business metrics.

Photo: @TCS_News

9:02 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,113.43	-60.96	-0.18
S&P BSE SENSEX 50	10,630.76	-20.43	-0.19
S&P BSE SENSEX Next 50	32,895.96	-158.04	-0.48
S&P BSE 100	10,539.94	-25.15	-0.24
S&P BSE Bharat 22 Index	3,475.95	-3.56	-0.10

(Source: BSE)

9:00 AM

Sector-wise rollover stats

·      Oil and Gas, Realty, Textile, FMCG and Media sectors witnessed higher rollovers compared to same day of  previous expiry.

 

·      Automobile, Pharma, Cement sectors witnessed lower rollovers compared to same day of previous expiry.

 

·      Highest rollover in current expiry: Technology, Textile, Oil and Gas, FMCG and Media.

 

·      Lowest rollover in current expiry: Infrastructure, Power, Cement, Fertilisers and Capital Goods.

(Source: Nirmal Bang)

·      

8:59 AM

Rollover stats

·      The Nifty March expiry rollover is at 53.75% on Tuesday compared to 39.04% on same day of previous expiry.

 

·      The Bank Nifty March expiry rollover is at 54.36% on Tuesday compared to 36.33% on same day of previous expiry.

 

·      The Market wide March expiry rollover is at 59.25% on Tuesday as compared to 55.39% on same day of previous expiry.

 

·      The Nifty March rollover is higher than its Three months average of 43.65% and its six months average of 44.55%.

 

·       The Bank Nifty March rollover is higher than its Three months average of 42.94% and its six months average of 41.69%.

 

·      The market wide rollover is higher than with its three months average of 56.97% and six months average of 56.61%.

(Source: Nirmal Bang)

8:56 AM

Nifty outlook and top stock picks by Motilal Oswal Securities

Nifty index opened gap up, tested the support of 10,141 zones and recovered towards 10,200 zones. However it got stuck in a range in second half of the trading session ahead of expiry and formed a Doji candle on the daily scale which implies indecisiveness in the market. Now it has to hold above 10,141 to extend its bounce towards 10,276 then 10,333 zones while on the downside supports are seen at 10,080 and 10,050 zones. READ MORE

8:53 AM

Pullback Likely to extend up to 10,300 in Nifty: HDFC Securities

Nifty has witnessed a fall of almost 11% from the all-time high of 11,171 registered in Jan 2018 to the recent bottom of 9,951. Nifty Midcap and Smallcap indices plunged 16% and 21% respectively. Many stocks have seen a fall of than 40% from their 3 Month’s high. Due to this panic selling, stocks have turned extremely oversold on the daily and weekly chart. As a result of the same we saw Markets started rebounding from last two sessions. READ MORE

8:50 AM

Buy Godrej Agrovet, JM Financial: Prabhudas Lilladher

BUY GODREJ AGROVET

CMP : Rs 650.75

TARGET : Rs 710

STOP LOSS : Rs 620
 

The stock has formed a higher bottom formation pattern in the daily chart taking support at the significant 34 WMA and is showing a positive bias and with the RSI indicating a trend reversal, the chart looks attractive for further rise from here on. We anticipate the stock to scale upwards till 710 levels and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 710 keeping a stop loss of 620. READ MORE

8:45 AM

Markets on Tuesday

 

S&P BSE Sensex	33,174.39		0.33%
Nifty 50	10,184.15		0.53%
S&P BSE 200	4,459.96		0.64%
Nifty 500	8,978.10		0.72%
S&P BSE Mid-Cap	16,048.33		1.06%
S&P BSE Small-Cap	17,152.93		1.36%

8:44 AM

SGX Nifty

The SGX Nifty was at 10,110.50, down 0.60% from the previous close.

8:43 AM

Asian Markets

Asian shares pulled back on Wednesday as Wall Street was knocked hard on concerns about tighter regulations on the tech industry, denting a brief global equities recovery driven by hopes of easing fears of a trade war between China and the United States.

 

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent, with tech-heavy Korean shares falling 1.0 per cent. Japan's Nikkei fell 2.1 per cent.

8:42 AM

Wall Street

US stocks sank in late trading on Tuesday, with faltering technology shares reversing a global stock rally that had swept through Asia and Europe. On Wall Street, the S&P 500 lost 1.73 per cent and the Nasdaq Composite dropped 2.93 per cent, making their fourth decline in five sessions.

8:37 AM

Good Morning!

Welcome to Business Standard's live blog on markets.