Sensex ends over 600 points higher, Nifty above 10,400 mark on global cues
All that happened in the markets today.
 "Markets, Stocks, Shares")
A share broker monitors market fluctuation
12:15 PM
It has taken only one announcement to change the outlook for sugar companies. The forecast of a 13 per cent increase in production, compared to previous estimates, has panicked the market, eroding prices of the commodity and the stock price of manufacturers. In sum, after a year of record profit and a second reasonably good one, top sugar companies again seem on the verge of an extended downturn. And, given the current environment in banking, a number of companies might not be able to swim through. READ MORE
Sugar firms stare at losses, with estimate of record output, after 2 years
It has taken only one announcement to change the outlook for sugar companies. The forecast of a 13 per cent increase in production, compared to previous estimates, has panicked the market, eroding prices of the commodity and the stock price of manufacturers. In sum, after a year of record profit and a second reasonably good one, top sugar companies again seem on the verge of an extended downturn. And, given the current environment in banking, a number of companies might not be able to swim through. READ MORE
12:09 PM
Passenger vehicle sales up 7% in Feb; motorcycle sales jump 26%: SIAM
Domestic passenger vehicle sales rose 7.77 per cent to 275,329 units in February from 255,470 units in February 2017. Domestic car sales were up 3.7 per cent to 179,122 units as against 172,737 units in February 2017, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Motorcycle sales last month rose 26.48 per cent to 1,053,230 units as against 832,695 units a year earlier. READ MORE
Domestic passenger vehicle sales rose 7.77 per cent to 275,329 units in February from 255,470 units in February 2017. Domestic car sales were up 3.7 per cent to 179,122 units as against 172,737 units in February 2017, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Motorcycle sales last month rose 26.48 per cent to 1,053,230 units as against 832,695 units a year earlier. READ MORE
Maruti Suzuki Dzire
12:05 PM
Shares of public sector undertaking (PSU) banks continued to be under pressure with the Nifty PSU Bank index hitting a fresh 19-month low as banking stocks once again succumbed to heavy selling pressure in the wake of reports that Union Bank of India has direct credit exposure of about Rs 1.20 billion to companies controlled by jeweler Nirav Modi, and another Rs 1.75 billion to Gitanjali group of companies. READ MORE
Nifty PSU Bank hits fresh 19-month low; 8 banks hit respective 5-year lows
Shares of public sector undertaking (PSU) banks continued to be under pressure with the Nifty PSU Bank index hitting a fresh 19-month low as banking stocks once again succumbed to heavy selling pressure in the wake of reports that Union Bank of India has direct credit exposure of about Rs 1.20 billion to companies controlled by jeweler Nirav Modi, and another Rs 1.75 billion to Gitanjali group of companies. READ MORE
11:58 AM
MARKET COMMENT (Source: IFA Global)
The overall risk sentiment is positive post Friday's US employment data. Though the headline NFP number beat expectations, tepid growth in average hourly wages led to a USD sell off. Equities and commodities too rallied. However, the reaction in US rates was muted with 10y yield largely unchanged. Asian currencies are trading 0.1-0.5% stronger against USD. Likely range 64.90-65.17. SGX is pointing towards a 1% higher opening for the Nifty. Most Asian stock indices are trading with healthy gains of around 1% in early Asia.
US CPI and retail sales major data are due this week. FPIs sold net usd 277mn in debt and bought 178mn in equity on Thursday. Exporters are advised to cover partially long term exports above 65.10 levels and keep a stoploss of 64.80 for further bookings. Importers are advised to cover their imports till April in the range of 64.80-65.00.
The overall risk sentiment is positive post Friday's US employment data. Though the headline NFP number beat expectations, tepid growth in average hourly wages led to a USD sell off. Equities and commodities too rallied. However, the reaction in US rates was muted with 10y yield largely unchanged. Asian currencies are trading 0.1-0.5% stronger against USD. Likely range 64.90-65.17. SGX is pointing towards a 1% higher opening for the Nifty. Most Asian stock indices are trading with healthy gains of around 1% in early Asia.
US CPI and retail sales major data are due this week. FPIs sold net usd 277mn in debt and bought 178mn in equity on Thursday. Exporters are advised to cover partially long term exports above 65.10 levels and keep a stoploss of 64.80 for further bookings. Importers are advised to cover their imports till April in the range of 64.80-65.00.
11:51 AM
Sector Watch: Automobiles
The strength in domestic medium and heavy commercial vehicle (MHCV) volumes continues to surprise positively. February 2018 volumes grew 22% YoY to 37K units (base of +5% YoY in Feb-17). YTD growth for the industry stands at 12% YoY. We are increasing our industry forecasts and now forecast FY18 growth at 11% (vs. +6% earlier). Our FY19/20 forecast is at +13%/+8%.
(Source: Deutsche Bank)
11:45 AM
We’re now awash in “crypto” hype—cryptocurrencies like bitcoin and fundraising efforts like initial coin offerings. For every venture capitalist or technical expert, there’s a half-dozen hype men and fly-by-night startups making the entire space look like a 21st-century version of the Amsterdam tulip mania. READ MORE
Crypto bubble bursts, but blockchain will survive even if bitcoin doesn't
We’re now awash in “crypto” hype—cryptocurrencies like bitcoin and fundraising efforts like initial coin offerings. For every venture capitalist or technical expert, there’s a half-dozen hype men and fly-by-night startups making the entire space look like a 21st-century version of the Amsterdam tulip mania. READ MORE
11:36 AM
Market Check
| S&P BSE Sensex | 33,595.68 | 0.87% | |
| Nifty 50 | 10,324.55 | 0.96% | |
| S&P BSE 200 | 4,490.59 | 0.65% | |
| Nifty 500 | 9,047.15 | 0.68% | |
| S&P BSE Mid-Cap | 15,996.62 | 0.06% | |
| S&P BSE Small-Cap | 17,350.97 | 0.26% | |
11:26 AM
BSE Smallcap: Jaiprakash Power Ventures, PG Electroplast among gainers, Andhra Bank top loser
11:25 AM
Reliance Securities on Federal Bank
The Bank is expected to deliver further improvement in operational performance led by improving loan book growth and improving assets liability mix. Advances grew by 5.3% QoQ to Rs850bn in 3QFY18, as SME, Wholesale and Retail (including Agri) book grew by 13.3%, 4.4% and 6.85% QoQrespectively.
We expect the Bank’s earnings to witness 33% CAGR through FY17-20E and reiterate our BUY recommendation on the stock with an Target Price of Rs150 based on 2.3x FY19E Adjusted book value.
11:13 AM
India Inc pays the highest dividend in the last quarter of a financial year. With less than three weeks for this fiscal year to end, a slew of companies are expected to dole out dividends to investors. READ MORE
Here are top 10 stocks with highest average dividend yield for past 5 years
India Inc pays the highest dividend in the last quarter of a financial year. With less than three weeks for this fiscal year to end, a slew of companies are expected to dole out dividends to investors. READ MORE
11:03 AM
Kotak Institutional Equities on Hindalco
We maintain BUY rating with unchanged target price of Rs 315. The indirect risk of US aluminum import tariff on Hindalco’s earnings could be lower aluminum prices. However, we believe aluminum production from the US can increase by only 600-700 kt, due to restarts, which is close to 0.9% of the global demand. We believe lower China supplies from end of CY2018/CY2019 can set the tone for a strong outlook over the next 2-3 years.
10:54 AM
TOP CONTRIBUTORS TO SENSEX GAINS TODAY (As at 10:53am)
| COMPANY | LATEST | CHG(RS) | CHG(%) |
FREE FLOAT MKT CAP (RS CR) |
CONTRIBUTION (POINTS) |
| ITC | 266.60 | 7.20 | 2.78 | 261575.10 | 67.03 |
| INFOSYS | 1190.10 | 26.70 | 2.29 | 218668.11 | 61.89 |
| H D F C | 1845.00 | 26.55 | 1.46 | 193778.42 | 48.58 |
| HDFC BANK | 1864.30 | 11.10 | 0.60 | 210795.90 | 25.29 |
| TCS | 3074.70 | 40.20 | 1.32 | 124249.74 | 23.75 |
| ICICI BANK | 296.20 | 3.50 | 1.20 | 149832.07 | 23.58 |
10:52 AM
TOP GAINERS ON BSE TODAY
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
| KRBL | 475.25 | 36.25 | 8.26 | 17343 |
| NETWRK.18 MEDIA | 52.50 | 2.85 | 5.74 | 104778 |
| VAKRANGEE | 205.45 | 9.75 | 4.98 | 225541 |
| JP ASSOCIATES | 14.60 | 0.65 | 4.66 | 2540735 |
| MPHASIS | 861.00 | 36.90 | 4.48 | 6308 |
10:49 AM
Deutsche Bank values asset management at up to 7.2 billion euros in IPO
Deutsche Bank set the price range for the planned initial public offering of its asset management unit on Sunday, valuing the division at up to 7.2 billion euros ($8.86 billion). In what is expected to be one of Germany's biggest listings this year, Deutsche Bank plans to sell up to 25 percent of the business, or a maximum of 50 million shares at a price range of between 30 euros and 36 euros each, it said on Sunday. READ MORE
10:48 AM
IT shares in focus; Tech Mahindra, Mastek hits fresh 52-week high
Mindtree, Hexaware Technologies, Sonata Software, Mastek and Zen Technologies have rallied more than 10% in past one month against 2% decline in Nifty 50 index CLICK HERE FOR MORE
Mindtree, Hexaware Technologies, Sonata Software, Mastek and Zen Technologies have rallied more than 10% in past one month against 2% decline in Nifty 50 index CLICK HERE FOR MORE
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First Published: Mar 12 2018 | 3:30 PM IST
