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Sensex today: M&M, ICICI Bank, YES Bank rally; index bucks global trend to end 115 points higher
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In a volatile trading session, the benchmark indices settled higher, bucking negative trend seen in global markets, as gains in public sector banking stocks such as State Bank of India, Bank of Baroda etc provided support to the market. The Sensex ended at 33,370, up 115.27 points, while the broader Nifty50 settled at 10,245, up 33.20 points.
In the broader market, the BSE Midcap and the BSE Smallcap indices gained 0.9 per cent and 1.3 per cent. Market breadth, indicating the overall health of the market, turned positive. On the BSE, 1,853 stocks rallied, 792 stocks declined, while 142 stocks remained unchanged.
Banking stocks advanced after the Reserve Bank of India (RBI) allowed banks to spread their bond trading losses, in a move that will likely boost the profitability of banks. The central bank on Monday said lenders can spread bond trading losses incurred in the December 2017 and March 2018 quarters equally over up to four quarters. Nifty PSU Bank index was the leading gainer among NSE indices.
Overseas, World markets battled to regain their poise on Tuesday after another round of tech and trade war worries had clobbered shares and oil prices tumbled on signs of rising Russian supply and Saudi price cuts. Europe’s main markets in London, Paris and Frankfurt were all down more than 0.5 percent, after being closed on Monday when the pace of selling had pushed U.S. markets below pivotal technical levels.
Asia’s shares stumbled too, although less than Wall Street, where the S&P 500 closed below its 200-day moving average for the first time since Britain’s 2016 vote to leave the European Union. Japan’s Nikkei ended down 0.45 per cent, after falling as much as 1.6 percent. China’s Shanghai Composite index eased 0.9 per cent and the blue-chip CSI300 was off 0.7 per cent.
On Monday, the Sensex settled at 33,255, up 286.68 points, while the broader Nifty was ended at 10,211, up 98.10 points. Foreign institutional investors sold equities worth Rs 689.75 crore on Monday, while domestic institutional investors bought equities worth Rs 413,16 crore, provisional data available with BSE showed.
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03 Apr 2018, 3:41 PM (IST)
How to get rich quick: Rs 1 lakh turned into Rs 14 lakh; here is how
How to get rich quick is what everyone wonders, but only a few manages to do that. While hard work and intelligence is most important to make it big, luck, at times, also has a role to play into it, more so on Dalal Street. A lot of people managed to turn Rs 1 lakh crore into Rs 14 lakh crore in a year. We tell you how.
If you had invested Rs 1 lakh in graphite maker HEG, it would have grown to Rs 14 lakh, making you richer by 1300-odd per cent. That is the stupendous rate of return HEG logged in just a year. From Rs 250-odd last year, the stock has rallied to Rs 3,200-odd by Monday's closing price. By comparison, the Sensex gained just 12 per cent. HEG's peer Graphite India also witnessed a smart rally, gaining 550-odd per cent during the same period. Both stocks are the top two best performing ones on BSE-500 index.
03 Apr 2018, 3:40 PM (IST)
Vinod Nair, Head of Research, Geojit Financial Services
Market traded rangebound throughout the day due to volatility in the global market. But towards the close, pace picked up, supported by moderation in yield and growth in core sector. Yield declined amid central bank allowing the banks to spread their bond trading losses which gave a positive sentiment to banking stocks. On the other hand, investors are gradually shifting focus to upcoming Q4 results and RBI policy outcome which will dictate the market outlook in the near term.
03 Apr 2018, 3:36 PM (IST)
Sectoral trend
All but one sector settled in green
Source: NSE
03 Apr 2018, 3:35 PM (IST)
Rakesh Jhunjhunwala portfolio: Seven stocks that surged over 50% in FY18
Rakesh Jhunjhunwala portfolio: It's time to look into ace investor Rakesh Jhunjhunwala's portfolio as financial year 2018 draws to an end. As many as 21 out of 31 stocks in his portfolio, where he owns over 1 per cent stake, ended in green in FY18. Of those, seven stocks rallied over 50 per cent, while two stocks turned multibaggers i.e. gained over 100 per cent.
Prakash Industries was the best performing stock in Rakesh Jhunjhunwala's portfolio, rallying 119 per cent. Jhunjhunwala holds 1.6 per cent stake in the company. Titan, Jhunjhunwala's favourite stock, gained 104 per cent in FY18. Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together own 8.4 per cent in Titan Company.
03 Apr 2018, 3:34 PM (IST)
SBI, PNB, Bank of Baroda share prices rally; here is what got investors interested
Shares of public sector banking stocks such as State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) rallied on Tuesday after the Reserve Bank of India (RBI) allowed banks to spread their bond trading losses, in a move that will likely boost the profitability of banks. The central bank on Monday said lenders can spread bond trading losses incurred in the December 2017 and March 2018 quarters equally over up to four quarters. The RBI has also asked banks to set aside profits on sale of their investments in bonds in a reserve from the current fiscal year.
03 Apr 2018, 3:30 PM (IST)
Markets at close
The Sensex ended at 33,370, up 115.27 points, while the broader Nifty50 settled at 10,245, up 33.20 points.
03 Apr 2018, 1:17 PM (IST)
BSE launches arbitrage rate index
Asia Index, a joint venture between S&P Dow Jones Indices and BSE, has launched arbitrage rate index. The S&P BSE Arbitrage Rate Index will equally weigh long positions in the Sensex and equivalent short positions in the futures contracts, Asia Index CEO Alka Banerjee said in a statement.
03 Apr 2018, 9:20 AM (IST)
Nifty outlook by Angel Broking
Looking at the individual stocks, a possibility of surpassing the higher boundary looks quite on cards. In this case, we may see this stock specific relief rally getting extended towards 10,350 – 10,400 levels. As a pessimist, one should rather wait n watch for while. An ideal scenario would be a decent relief rally or a slide below Wednesday’s low i.e. 10096 (whichever comes first). For the coming session, 10180 – 10127 would be seen as immediate support levels.
03 Apr 2018, 9:11 AM (IST)
Banking stocks hog limelight
Banking stocks supported the market after The Reserve Bank of India (RBI) eased the provisioning norms for bond losses incurred by banks in the third and fourth quarter of 2017-18, allowing them to spread these over four quarters. In a notification, the RBI also asked commercial banks to create an Investment Fluctuation Reserve (IFR) so as to build up adequate reserves as protection against increase in yields in future
03 Apr 2018, 9:10 AM (IST)
Markets at open
The Sensex was trading at 33,262, up 7.29 points, while the broader Nifty50 was ruling at 10,212, up 0.75 points.
03 Apr 2018, 9:10 AM (IST)
Sensex heatmap at open
Source: BSE
03 Apr 2018, 9:03 AM (IST)
Rupee at open
Rupee opens at 65.08 vs dollar against Wednesday’s close of 65.17 per dollar
03 Apr 2018, 9:00 AM (IST)
Wipro, HDFC Bank among top 10 intraday trading calls for today's trade
HDFC BANK
Target: Rs 1960
Stoploss: Rs 1920
CMP: Rs 1930
- The stock fell only marginally amid broader sell-off
- The stock is trading above all moving averages on daily chart
03 Apr 2018, 8:58 AM (IST)
Pre-open trade
The Sensex was trading at 33,197, down 57.94 points, while the broader Nifty50 was ruling at 10,186, down 24.95 points during indicative ticks.
03 Apr 2018, 8:56 AM (IST)
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