Sensex ends over 600 points higher, Nifty above 10,400 mark on global cues

All that happened in the markets today.

9:02 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,384.67	+77.53	+0.23
S&P BSE SENSEX 50	10,706.91	+23.14	+0.22
S&P BSE SENSEX Next 50	32,816.16	+53.55	+0.16
S&P BSE 100	10,600.25	+22.46	+0.21
S&P BSE Bharat 22 Index	3,493.09	+4.47	+0.13

(Source: BSE)

8:57 AM

INTERVIEW OF THE DAY Market returns will be interplay of profit growth, PE ratio: Rana B Gupta

Global markets corrected last week after US President Donald Trump proposed to raise tariffs. RANA B GUPTA, managing director, India Equities at Manulife Asset Management (Singapore), in a conversation with Puneet Wadhwa said one needs to monitor whether this situation escalates to more protectionist measures and retaliation from trading partners. India, he feels, remains a unique, bottom-up story. READ MORE

RANA B GUPTA Managing director, India Equities Manulife Asset Management (Singapore)

8:55 AM

Street signs: CIL sees investor churn, big investors buy Himadri, and more

Coal India sees investor churn: The strong gains in the Coal India stock in 2018 has been accompanied by domestic institutions increasing their exposure in the counter. Coal India has gained 16.2 per cent in the year so far – the most among the Sensex companies. This rally has seen three big-ticket institutions – ICICI Prudential, Aditya Birla Sun Life and HDFC Mutual Fund – up their stake in the coal producer. Interestingly, leading foreign investor, BlackRock has sold close to 10 million shares of Coal India in March. This investor churn is expected to continue in the medium term, even as analysts are expecting another 10 per cent upside in the stock over the next one year. CLICK HERE TO READ MORE

8:52 AM

Nifty50 can dip below 10,000 mark soon: Angel Broking

The week turned out to be a decider as we saw Nifty finally coming out of the recent congestion zone. In fact, we had clearly stated in our previous article that we would see this suspense getting unfolded in the first half. In-line with expectation, the index made things clear on Tuesday after violating the 10,300 mark. Some respite in last couple of sessions led to a weekly close well below this key point. CLICK HERE TO READ MORE

8:50 AM

IIP, inflation data to steer stock market sentiment in the week ahead

Trading sentiment in the stock market this week will be guided by key macroeconomic data like Index of Industrial Production (IIP) and inflation, experts said. READ MORE

8:48 AM

Nifty outlook and key trading ideas by Devang Shah

The market managed to hold lower end support levels as mentioned in last week & started to pull back rally after expiry today as expected. It managed to find support near 10,300 levels on Nifty. It made a low of 10,276 levels so far on Nifty in this correction. We can expect the market to pull back towards target 1-10,600-10,680 levels on Nifty in short-term & in extreme levels if it is, then it can stretch till target 2-10,830 levels on Nifty in this pullback rally. The trader should use this pullback rally to sell or exit till short-term reverses.

The short-term outlook for the market remains negative till Nifty trades below 11,172 levels and expecting a target of 10,000-9,800 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 8,968 levels and expecting targets in the range of 12,000-12,200 levels in the medium term.

CLICK HERE TO READ MORE

8:44 AM

Markets on Friday

 

S&P BSE Sensex	33,307.14		-0.13%
Nifty 50	10,226.85		-0.15%
S&P BSE 200	4,461.56		-0.13%
Nifty 500	8,986.40		-0.16%
S&P BSE Mid-Cap	15,987.27		-0.35%
S&P BSE Small-Cap	17,305.92		-0.30%

8:42 AM

Buy BASF, M&M, L&T Finance Holdings: Prabhudas Lilladher

BUY L&T FINANCE HOLDINGS
CMP : 160
TARGET : 178
STOP LOSS : 153
 

The stock has taken support at 155 on twice occasions thus making a double bottom formation like pattern in the daily chart and with the promising cues from the indicators, we anticipate a upward rise from here on to scale till 175-180 levels in the coming days. The RSI has indicated a trend reversal signaling a buy and with the MACD also in the positive mode, the chart looks attractive and promising. With good volume activity seen, we recommend a buy in this stock for an upside target of 178 keeping a stop loss of 153.

CLICK HERE TO READ MORE

8:41 AM

IPO WATCH Bharat Dynamics Limited

 

Date of Opening Issue: March 13, 2018
Date of Closing Issue: March 15, 2018

Issue size: Rs. 919.11 - 952.79 crore
Bid lot size:35 shares and in multiples there-off 

Price band: Rs.413 – 428 per share
Face value: Rs.10

At the price band of Rs. 413- 428 per share, the issue is priced at 10.3-10.7 times P/E for FY2017 earnings, which seems to be attractively priced, as its only peer (to an extent) i.e. Bharat Electronics Ltd is currently trading at a P/E of 23 times FY2017 earnings.

(Source: Sharekhan report)

8:41 AM

Nifty outlook by Prabhudas Lilladher
 

After Nifty saw a support at 10,141 levels, a pullback recovery took it near to the level of 10,300 which was short-lived with bears again taking charge of the bulls. As said earlier, the level of 10,140 would be crucial which if broken can see fresh downfall upto 10,000 mark and thereafter 9,800-9,700 levels. However, the support for the week is seen at 9,980 while the resistance is seen at 10,450.

8:40 AM

Sharekhan on Crompton Greaves Consumer Electricals

We retain our positive view on the stock of Crompton Greaves Consumer Electricals Ltd (CGCEL). 15-20% returns expected from current levels. Recent stock price correction of 18% from January provides good point of entry. Premiumisation strategy along with brand awareness and new product launches puts CGCEL at a vantage position. We expect CGCEL to deliver 28% CAGR earnings growth from FY2018E-FY2020E.

8:37 AM

MARKET COMMENT Sanjeev Zarbade, Vice-president-PCG Research at Kotak Securities

The BSE-30 Index dropped over 2.0% to close at 33,307 as the markets saw risk aversion amid weak global cues on prospects of trade wars as well as weak GST collections. Tata Motors (-7%), Bharti Airtel (-6%) and Tata Steel(-5%) were the biggest losers in the BSE-30 Index. Sector-wise, metals (-6%), healthcare (-4%) and capital goods (-3%) were the largest losers. In Friday’s trading, the Sensex reversed some of previous day's gains amid sell-off in last hour of trade.

 

In this next week, the government will release the IIP and CPI data, which will give a sense of the economic recovery and trend in inflation, respectively. In this, inflation would be something that would be critical as its further hardening could trigger fears of rate hikes. On the global front, President Trump’s rhetoric on trade protectionism could weigh on markets. On the other hand, any move by the Trump towards reconciliation with North Korea could be taken positively.

 

The recent fall in mid-cap stocks provides a good opportunity for investors to pick stocks. We advise investors to select stocks with strong management quality, robust earnings growth and reasonable valuations

8:33 AM

SGX Nifty

The SGX Nifty was trading at 10,347.50, up 1.29% from the previous close.

8:32 AM

Asian Markets

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.1 per cent, for a third session of gains, while Japan’s Nikkei jumped 1.5 per cent.

8:30 AM

Wall Street

The Dow jumped 1.77 per cent on Friday, while the S&P 500 gained 1.74 per cent and the Nasdaq 1.79 per cent.