Stock Market Live: IT, Tech stock rally helps Sensex scale 341 points, Nifty rises 88 points to 10,880 levels

On account of US President Donald Trump pushing the tariff deadline, the Indian indices extended its bull run on Monday. The BSE Sensex rose 341 points to 36,213 levels while the 50-stock Nifty went up by 88 points to 10,880 levels. The Asian stocks have already touched its five-month peak. Since past few sessions market experts have been mentioning that the market has a potential to absorb the selling pressure at the critical support of 10580. Now in line with that, the index Nifty has turned decisively from there during the week went by. It is evident from the given daily chart that index Nifty has managed to sustain at higher levels after a relentless fall of more than eight trading sessions. Thus, we reiterate our previous stance that till the time Nifty stays above 10580 the probability of it reaching 11000 marks is quite high. 

Meanwhile for the upcoming sessions, 10860 – 10910 levels might act as an intermediate resistance whereas on the downside 10720 – 10640 zones might again attract some buying interest. Traders who initiated long in index futures should follow strict stop of 10600 for the upside target of 11000 and above. On the contrary, a close below 10580 could be dangerous for the bulls. In addition, the weekly chart of NIFTY MIDCAP 100 index construes that it has found support exactly at 200 WSMA, which indicates a sharp bounce in broad market stocks.

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3:32 PM

Closing bell: Sensex rises 341 points, Nifty rose 88 points

On account of US President Donald Trump pushing the tariff deadline, the Indian indices extended its bull run on Monday. The BSE Sensex rose 341 points to 36,213 levels while the 50-stock Nifty went up by 88 points to 10,880 levels. 

2:45 PM

IT stocks fuel Sensex rally

Taking a cue from the US president Donald Trump's announcements on Sunday in regard to the US-China trade standoff, the IT index rose over 2 per cent after trading cautiously in the early session. The BSE IT index added 2.27 per cent from its Friday close. IT major Datamatics Global Services Ltd. stocks went up by more than 6 per cent, shares of Firstsource Solutions Ltd went up by more than 4 per cent, Cyient counter went northward by around 2.5 per cent while IT heavy weight Infosys stocks went up by around 3.1 per cent. Shares of HCL Tech went up by over 1.5 per cent, Intense Technologies Ltd stocks scaled over 9.5 per cent, MIC Electronics rose by around 4.5 per cent, Quick Heal Technologies counter went up by more than 5.6 per cent, shares of Ramco Systems scaled over 4.7 per cent, Xchanging Solutions Ltd shares went northward by 6.5 per cent while Wipro stock was up by more than 1.5 per cent.

1:55 PM

Buy IndusInd bank, advises Narnolia Financial Advisors

1:35 PM

Buy Axis Bank counter, advises Narnolia Financial Advisors

1:30 PM

Buy ICICI Bank, advises Narnolia Financial Advisors

1:20 PM

Buy SBI for 20% gains, advises Narnolia Financial Advisors

1:15 PM

Buy Bank of Baroda for 30% gains, advises Narnolia Financial Advisors

1:10 PM

The outlook for Bank Nifty by Narnolia Financial Advisors

1:05 PM

Buy HeroMoto Corp, advises Narnolia Financial Advisors

1:00 PM

Buy Ashok Leyland, advises Narnolia Financial Advisors

12:55 PM

Buy Maruti Suzuki India Limited, advises Narnolia Financial Advisors After hitting the peak of 7949, stock slipped lower levels at 6317 then it turns back after forming congestion zone on daily time frame of charts. As of now, it bounced back from its rising trend line on daily chart which is showing stability in the stock. Declining histogram in MACD below central line and positive divergence on weekly chart is creating optimism in coming sessions. Key support level is located near 6700 levels. As long as it sustains above the same, possibility of moving on upside is higher and it can hit the target of 8050 levels.

12:50 PM

Buy Bajaj Auto, advises Narnolia Financial Advisors

12:20 PM

Sensex, Nifty sustain morning gains

On account of US President Donald Trump pushing the tariff deadline, the Indian indices extended its bull run on Monday open session. The BSE Sensex rose 136 points to 36,009 levels while the 50-stock Nifty went up by 31 points to 10,822 levels. 

11:30 AM

Auto stocks catch Dalal Street rally

After trading sideways for early hours trade. the auto index finally started gaining traction among the bull run. The BSE auto index gained over 1 per cent by noon. The index major Motherson Sumi Systems Ltd counter scaled over 10 per cent, shares of Apollo Tyres Ltd went upward by over 1.5 per cent, Exide Industries Ltd. counter went northward by around 1.5 per cent, Bosch stock went up by around 1.25 per cent, Bajaj Auto shares rose by near 1 per cent, Hero MotoCorp Ltd and TVS Motor Company Ltd scrip went up by near 0.8 per cent while Bharat Forge stock added more than half a per cent from its Friday close.

10:25 AM

IndiaNivesh speaks on markets outlook and its future behaviour

Since past few sessions we have been mentioning that the market has the potential to absorb the selling pressure at the critical support of 10580. Now in line with that, the index Nifty has turned decisively from there during the week went by. It is evident from the given daily chart that index Nifty has managed to sustain at higher levels after a relentless fall of more than eight trading sessions. Thus, we reiterate our previous stance that till the time Nifty stays above 10580 the probability of it reaching 11000 marks is quite high.

Meanwhile for the upcoming sessions, 10860 – 10910 levels might act as an intermediate resistance whereas on the downside 10720 – 10640 zones might again attract some buying interest. Traders who initiated long in index futures should follow strict stop of 10600 for the upside target of 11000 and above. On the contrary, a close below 10580 could be dangerous for the bulls. In addition, the weekly chart of NIFTY MIDCAP 100 index construes that it has found support exactly at 200 WSMA which indicates a sharp bounce in broad market stocks.

9:25 AM

GST rate cut fuels bull run in real estate stocks

On account of GST rate cut, the real estate counters gained maximum on Monday. The realty major Housing Development & Infrastructure Ltd. gained around 4 per cent, shares of Indiabulls Real Estate Ltd went upward by around 2.6 per cent, Oberoi Realty counter scaled by near 2.5 per cent, Prestige Estates Projects rose by around 2.9 per cent while Shobha Developers counter went northward by around 2.2 per cent. Stocks of DLF too went up by more than 1.5 per cent.

9:20 AM

Opening bell: Sensex breaks 36,000 levels, Nifty rises 36 points

On account of US President Donald Trump pushing the tariff deadline, the Indian indices extended its bull run on Monday open session. The BSE Sensex rose 140 points to 36,012 levels while the 50-stock Nifty went up by 36 points to 10,827 levels.

9:12 AM

Sensex, Nifty rise in pre-open session

On account of the US President Donald Trump pushing off the trade tariff, the Indian indices rise in pre-open session on Monday. The BSE Sensex rose 112 points to 35, 983 levels while the 50-stock Nifty went up by 21 points to 10,813 levels.

9:10 AM

What Trump said

Trump on Sunday tweeted he would push back the March 1 deadline for higher tariffs and looked forward to a meeting with Chinese President Xi Jinping when a deal was sealed. and Chinese negotiators were discussing the thorny issue of how to enforce a potential trade deal on Sunday after moving ahead on structural issues, a source said.

Trump tweeted progress had been made on the intellectual property, technology transfers, agriculture, services, and currencies. high-frequency engagement between Beijing and Washington at a senior level implies that both sides are looking for some form of settlement," said Tai Hui, chief market strategist the Asia Pacific at J.P. Morgan Asset Management.

"I think the market has been moving towards this view in recent weeks, as shown by the strong performance in China A Shares and Asian equities. Hence, the latest news may not offer a significant boost."

9:00 AM

The outlook for IT stocks by Elara Securities

8:50 AM

Oil stocks outlook by Narnolia Financial Advisors

Oil exploring companies reported better results on the back of higher realizations with margin improvement whereas the oil marketing companies take hit in refining margins and huge inventory losses. Oil marketing companies are now expected to normalize their refining margins as they have already booked huge inventory losses in the last quarter.

8:45 AM

Asian stocks scale five-month high

The Asian stocks scaled five-month peak on account of US President Donald Trump's decision to push out the tariff deadline. The US President confirmed that he would delay a planned increase on Chinese imports as talks between the two sides were making 'substantial progress.'

The Australian dollar, a liquid proxy for China investments, got a 0.4 per cent lift from the news and the dollar touched a fresh seven-month low on the yuan.

Shanghai blue chips jumped 2.8 per cent. That brought gains this year to 20 per cent, helped in part by Beijing's efforts to pump new credit into the financial system.

MSCI's broadest index of Asia-Pacific shares outside added 0.5 per cent to the highest since October, and is up 10 percent for the year so far.

Japan's Nikkei climbed 0.6 percent to levels last seen in mid-December. E-Mini futures for the S&P 500 ESc1 edged up 0.3 percent, while Treasury futures TYc1 slipped.

On Friday, the US markets had gained on the fast approaching March 1 US-China trade talks. Nasdaq had gained 0.91 per cent while the Dow Jones gained around 0.7 per cent.