Indices end at record closing highs on Modi win hangover; Sensex up 623 pts

All that happened in the markets today

8:18 AM

Story in numbers: Modi fares better than Manmohan in controlling inflation

The first stint of the Narendra Modi government is leaving behind half the inflation rate for its second avatar compared to what it got from the UPA-2. UPA 1 had also handed over a high inflation rate of more than 8 per cent to its second variant. The NDA government , however, could not accelerate the economic growth rate much. READ MORE

8:16 AM

Fiscal policy to manufacturing: What corporate leaders expect from Modi 2.0

I think it is very good that the NDA has come back to power. It will lead to economic growth, which we badly need right now. The verdict will give the government a mandate to take action. That is key. They were earlier in election mode. Now they will get down to business, which is important for the development of the economy-- Adi Godrej, chairman, Godrej group READ MORE

8:11 AM

NEWS ALERT | FAA likely to approve return of Boeing 737 Max by June end: Reuters

8:09 AM

Telcos fight to keep network costs in check; Voda Idea spends highest

The financials of telecom companies indicate that network cost as a per cent of mobile revenues ranged between 25 and 30 per cent between financial years 2013 to 2018.

 

But entry of Reliance Jio in FY17 led to a massive 4G rollout by the telcos across circles, leading to a rise in network cost. Vodafone Idea Ltd currently leads the pack with almost 43.3 per cent network operating expenses (opex) as per cent of revenue. It, however, managed to reduce it by around 10 per cent in the March quarter. READ MORE

8:07 AM

India has ended Iranian oil imports to comply with US sanctions: Envoy

India has ended all imports of oil from Iran, its ambassador in Washington said Thursday, becoming the latest country to comply with the US sanctions.

 

India had already sharply decreased its imports from Iran and bought one million tonnes (tons) of crude in April, the last month before Washington stepped up its pressure campaign against Tehran and ended all exemptions to sanctions, Ambassador Harsh Vardhan Shringla said. READ MORE

8:06 AM

Morgan Stanley sees Sensex at 45,000; Nifty at 13,500 by June 2020

"India seems to be voting in a majority government for another term. This likely continuity in administration is source of comfort for stocks due to an accompanying policy predictability. We expect some shifts in the policy regime. Sensex target is at 45,000 for Jun 2020," wrote Ridham Desai, head of India research and India equity strategist at Morgan Stanley. READ MORE

7:59 AM

Election outcome is a positive; investors should not rush to buy: U R Bhat

The markets were in a celebratory mode on Thursday as the results have been better than what the markets were initially expecting. So, there was some relief on account of that. That said, the markets corrected a day after they reacted to the exit polls as well. So, irrespective of the final tally, the markets can correct from here on as well. There has been no change in terms of corporate earnings or economic parameters that can take the markets higher, more than the levels they are at now. There should be a mild correction over the next few sessions and then a consolidation phase will set in, albeit with a negative bias. READ MORE

7:58 AM

Elections & markets: Challenges for Modi 2.0 and key investment themes

Most analysts believe that the new government faces an uphill task in reviving the economy ranging from consumption slowdown, liquidity crisis, farm distress, unemployment to stagnant private sector investment. READ MORE

7:54 AM

'Market rally post BJP win offers a good opportunity to rejig portfolio'

Our markets have underperformed global peers year-to-date (YTD) and we needed a reason to rally and catch up rally was long overdue; with Bharatiya Janata Party’s (BJP's) strong performance, positive sentiments could lift the overall market into an overvalued territory, which may not sustain. Currently, the Nifty Index is trading at a 12-month forward blended price-to-earnings (PE) of 18.4 times, which is at a premium to 10-year and 5-year average of 15.5 and 16.5, respectively. READ MORE

7:53 AM

Elections 2019: How BJP's impending victory has surprised even the bulls

R. SIVAKUMAR, HEAD OF FIXED INCOME, AXIS MUTUAL FUND, MUMBAI

 

“Investors globally are positive when there is stability in any country. For global investors, political stability and continuity is an important factor while taking a view on investing in any country. This will keep India on the radar of global equity investors.” READ MORE

7:52 AM

Should you buy gold at the current levels? Here's what experts suggest

US Dollar (DXY) is again testing levels of 98. The FOMC minutes released recently didn’t provide the volatility needed to free DXY from its current range.

 

Indian rupee, meanwhile, opened strong as NDA was on track to resume power for the second time, but failed to sustain near its support zone of 69.40. That level has been tested twice and rupee has bounced from that level. READ MORE

7:48 AM

Four reasons why you should buy Bajaj Auto May Future in trade today

Buy Bajaj Auto May Future at Rs 3059 

 

Stop loss : Rs 3020

 

Target: Rs 3125

 

Rationale:

 

Long build-up was seen in the Bajaj Auto Futures’ on Thursday, where we have seen 8% rise in Open Interest (OI) with price rising by 0.60%.

 

Stock price has been forming higher-top, higher-bottom formation on the weekly chart. READ MORE

 

 

7:44 AM

L&T, SBI: Stocks Anand Rathi Research recommends buying at current levels

NIFTY: BUY TGT 11800 SL: 11575

 

Nifty closed in the negative territory in the last trading session and the has formed a 'bearish engulfing pattern', which is a bullish reversal pattern. We had anticipated a fifth wave on the upside and it happened as anticipated. The five-wave rise seems to have gotten over and now retracement of the same seems to have started. However, a bounce can’t be ruled out. Recommend buying. READ MORE

7:44 AM

Bulk deal on NSE as on Thursday

Click here for full list

7:42 AM

FII/FPI & DII trading activity on NSE, BSE and MSEI