MARKET WRAP: Indices end flat after 3-day rally; Sun Pharma gains 3%
All that happened in markets today
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markets
Benchmark indices took a breather on Thursday, after logging solid gains in the last three sessions amid mixed global peers and spurt in crude oil prices.
The S&P BSE Sensex closed at 37,755, up 3 points or 0.01 per cent. During the day, the index hit a high and low of 37,907.78 and 37,694, respectively. The overall market breadth remained in favour of declines as out of 2,861 companies traded on the BSE, 1,234 advanced and 1,479 declined while 148 securities remained unchanged.
The NSE's Nifty50 index settled the day at 11,343, down nearly 2 points or 0.01 per cent.
Banking sector barometer Nifty Bank hit a record high of 29,070.35 in the intra-day trade. It settled at 28,923 levels.
In the broader market, the S&P BSE MidCap index ended at 15,088, down 40 points or 0.26 per cent, while the S&P BSE SmallCap index closed at 14,888, up 13 points.
BUZZING STOCKS
Oil-to-telecom conglomerate Reliance Industries (RIL) scaled a new high of Rs 1,361.45 apiece on BSE, in the intraday trade, before ending at Rs 1341, down 0.41 per cent.
Muthoot Finance, too, continued its upward journey, hitting new high of Rs 612, up 3.3 per cent in the intra-day trade on expectation of healthy growth going forward. At close, the stock price stood at Rs 596, up 0.74 per cent.
Shares of IndusInd Bank hit a five-month high of Rs 1,685, up 3 per cent on the BSE, in the intra-day trade. In the process, the lender's valuation regained the Rs 1 trillion-mark. The stock, eventually, ended at Rs 1,683 apiece, up 3 per cent.
SECTOR WATCH
Realty stocks gained the most, followed by pharma and metal stocks. The Nifty Realty index ended over 2 per cent higher at 251 levels, with 5 out of 10 components advancing and rest 5 ending in the green.
GLOBAL MARKETS
Asian shares stumbled on Thursday after Chinese data signaled further weakness in the world’s second-biggest economy while the pound eased off nine-month highs ahead of another Brexit vote. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent after treading water for most part of the day. Japan’s Nikkei gave up early gains to end nearly flat.
Oil prices rose, with Brent crude hitting its highest since November 2018 amid OPEC-led supply cuts and US sanctions on Venezuela and Iran, while Chinese demand remained strong despite an economic slowdown.
Oil prices rose, with Brent crude hitting its highest since November 2018 amid OPEC-led supply cuts and US sanctions on Venezuela and Iran, while Chinese demand remained strong despite an economic slowdown.
(with Reuters input)
3:37 PM
Sectoral gainers and losers on NSE
3:36 PM
Top gainers and losers on S&P BSE Sensex
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Markets at close
The S&P BSE Sensex gained 2.72 points or 0.01 per cent to settle at 37,754 while NSE's Nifty50 index ended at 11,343, up 1.55 points or 0.01 per cent.
3:11 PM![]()
Pidilite Industries: Margin-improving levers spur market sentiment
Pidilite Industries, the maker of popular adhesive brands such as Fevicol, Fevikwik, Dr Fixit and M-Seal, is again finding favour among investors after under performing leading indices in the past couple of months. On Wednesday, the stock rose over four per cent to close at Rs 1,176.6 on the BSE. READ MORE
3:02 PM
Market check
2:53 PM
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Commodity watch :: Copper
Copper prices have been higher this year, benefitting from growing optimism surrounding the US/Chinese trade talks and drawdown in LME inventories which are off by 70% from year-ago levels. In fact, aggregate exchange inventories on COMEX, LME and SHFE remain at four-year low. This indicates that smelting bottlenecks are going to persist this year as well, as they were for much of 2018.
Moreover, refined copper and concentrate imports into China are running at a decent pace, quite understandable given the supply tightness emanating from copper scrap imports. Slowing mine output and a consequential global deficit will ensure that prices hold up well in the coming years. We see prices fluctuating between $5,800-7,200/ton for this year.
(Source: YES Securities)
Moreover, refined copper and concentrate imports into China are running at a decent pace, quite understandable given the supply tightness emanating from copper scrap imports. Slowing mine output and a consequential global deficit will ensure that prices hold up well in the coming years. We see prices fluctuating between $5,800-7,200/ton for this year.
(Source: YES Securities)
2:53 PM![]()
NEWS ALERT | Reliance Infra agrees to sell its Delhi-Agra Toll Road stake to Cube Highways
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COMMENT :: CARE Ratings on WPI numbers
We expect wholesale inflation to move upwards in the coming months driven by rise in the prices of food articles and manufactured products. The oil prices too are likely to increase in the coming months that will further exert an upward pressure on the prices. It will cross 3% in March 2019 and be in the range of 3-3.2%.
2:42 PM
Nifty Realty index is trading over 2% higher
2:26 PM![]()
Westlife Development nears record high; stock surges 9%
Shares of Westlife Development have rallied 9 per cent to Rs 444 in intra-day trade on the BSE in otherwise range-bound market on Thursday. The stock is trading close to its record high price of Rs 464, touched on May 8, 2018 in intra-day trade. In the past 10 trading sessions, the stock outpaced the market by surging 29 per cent, as compared to 5 per cent gain in the S&P BSE Sensex. READ MORE
2:14 PM![]()
HDFC's loan exposure to wholesale, developer segments may impact its stock
Housing finance major HDFC has been one of the noticeable laggards among heavyweight stocks in recent times. Since the beginning of 2019, the stock has lost about six per cent against the BSE Sensex’s four per cent gain. But first, the positives. READ MORE
2:00 PM
Market check
1:45 PM
Sectoral trends on NSE
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From Axis to ICICI: Mutual funds lap up private bank stocks ahead of rally
Domestic money managers aggressively bought shares of private sector banks in February. Kotak Mahindra Bank and Axis Bank were the two most-bought stocks by domestic mutual funds (MFs) last month, according to an analysis of monthly scheme disclosure data. The buying came at an opportune time as shares of most banks have rebounded sharply from their February lows. READ MORE
1:17 PM
» More on Top Losers![]()
Top losers on BSE500
| COMPANY | PRICE(rs) | CHG(rs) | CHG(%) | VOLUME |
|---|---|---|---|---|
| RELIANCE CAPITAL | 175.45 | -12.50 | -6.65 | 1142628 |
| MANPASAND BEVER. | 120.00 | -7.50 | -5.88 | 167648 |
| RELIANCE POWER | 10.85 | -0.67 | -5.82 | 5974012 |
| TAKE SOLUTIONS | 125.65 | -7.00 | -5.28 | 46352 |
| V-MART RETAIL | 2688.35 | -117.75 | -4.20 | 354 |
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First Published: Mar 14 2019 | 7:39 AM IST
