MARKET WRAP: Sensex falls 278 points from day's high; Nifty ends at 11,656

All that happened in markets today

2:05 PM

Hindalco up 6%

1:54 PM

Market check

1:41 PM

Should you bet on cement stocks? Here's what technical charts indicate

UltraTech Cement: The stock is currently trading in the range of Rs 4,170 – Rs 4,140. The high of “Head and Shoulder formation” resides at Rs 4,147.95, as per the daily chart. The crossing of the same may eventually end the weakening sentiment. A major breakout above Rs 4,170 will apparently see Rs 4,410 levels. The support comes in at Rs 3830, its 100-day moving average (DMA). READ MORE

1:29 PM

Heatmap: S&P BSE Sensex

1:11 PM

Aramco biggest oil producer in 2018, Fitch rates credit profile at AA+

“Saudi Aramco is the largest oil producer globally by volume... In 2018 its liquids production and its total hydrocarbon production averaged 11.6 million and 13.6 million barrels of oil equivalent per day, respectively, well ahead of the upstream output of global and regional integrated producers such as ADNOC, Shell, Total and BP,” Fitch said. READ MORE

12:53 PM

Most active stocks by volume (BSE500)

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
REL. COMM.	3.94	-0.20	-4.83	10078440
SUZLON ENERGY	6.36	0.21	3.41	3166106
VODAFONE IDEA	17.95	-0.20	-1.10	2876395
RELIANCE POWER	11.08	-0.28	-2.46	2453053
IDBI BANK	46.65	0.00	0.00	2332361

12:47 PM

NEWS ALERT | NCC bagged nine new orders worth Rs 4,619 crore in March

12:41 PM

NEWS ALERT | Ashok Leyland's total March sales down 4% to 21,535

12:32 PM

PSU Banks extend gain; Andhra Bank, Indian Overseas Bank up over 5%

Shares of public sector banks (PSB) continued to trade higher with the Nifty PSU Bank index up nearly 3 per cent on hopes of margin expansion. Andhra Bank, United Bank of India, Corporation Bank, Indian Overseas Bank, Uco Bank, Bank of Maharashtra and Syndicate Bank were up more than 5 per cent each while Punjab National Bank (PNB), Bank of Baroda (BOB), Union Bank of India, Bank of India and Indian Bank were up in the range of 2 to 3 per cent on the National Stock Exchange (NSE). READ MORE

12:20 PM

Nifty Metal index extends gain

12:11 PM

Syndicate Bank rises 5%

12:01 PM

As many as 35 stocks hit 52-week high on NSE today

ACC	ACC Limited	1,723.40	1,679.85	29-Mar-2019	1,672.05	1666.30	5.75	0.35
ADANIGAS	Adani Gas Limited	137.50	135.50	29-Mar-2019	132.60	128.70	3.90	3.03
BAJFINANCE	Bajaj Finance Limited	3,046.40	3,034.95	29-Mar-2019	3,019.95	3025.00	-5.05	-0.17
BALAXI	Balaxi Ventures Limited	39.90	38.00	29-Mar-2019	39.90	38.00	1.90	5.00
BILENERGY	Bil Energy Systems Limited	3.45	3.30	29-Mar-2019	3.45	3.30	0.15	4.55

Click here to view the full list (Source: NSE)

11:55 AM

Reliance Securities on Ahluwalia Contracts

We maintain our positive stance on Ahluwalia Contracts mainly on the back of: 

 

(1) asset light business model; 

 

(2) strong balance-sheet (D/E ratio at 0.05x); 

 

(3) best-in-class return ratios; and 

 

(4) no equity commitment unlike several other construction companies. 

 

Expecting Ahluwalia Contracts’ revenue and PAT to clock 17 per cent and 20 per cent CAGR, respectively over FY18-FY21E, we reiterate our BUY recommendation on the stock with an unrevised Target Price of Rs 405 (16x FY20 EPS).

11:50 AM

Market outlook: Here's what analysts expect from stock market in FY20

Stock market ended financial year (FY) 2018-19 on a stellar note, thanks to a sharp rally in March after weak global cues and IL&FS crisis during the second half of the fiscal dented the investor sentiment in a big way. The S&P BSE Sensex rallied 17 per cent in FY19 while the broader Nifty50 index of the National Stock Exchange (NSE) gained 15 per cent. Out of this, 7.23 per cent gain in Sensex and 6.99 per cent in Nifty came in March alone. READ MORE

11:41 AM

Top gainers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
ANDHRA BANK	32.20	4.10	14.59	832262
FORBES & CO	2416.95	219.70	10.00	2620
LAK. VILAS BANK	77.55	7.05	10.00	180034
INDIABULLS VENT.	353.00	27.65	8.50	266336
WELSPUN CORP	146.10	10.45	7.70	173025