MARKET WRAP: Sensex climbs 482 pts, Nifty tops 11,300; Bharti Airtel up 5%

Extending their rally, benchmark indices ended over 1 per cent higher on Tuesday, driven by gains in financials and energy counters.

The S&P BSE Sensex ended at 37,535.66, up 481.56 points while the broader Nifty50 index settled at 11,301.20, up 133 points.

Among sectoral indices, the Nifty Bank and Nifty Private Bank hit all-time highs during the intra-day trade, with ICICI Bank, IndusInd Bank being the top gainers. The indices settled at 28,443.70 and 16,257.90, respectively.

In the broader market, the S&P BSE Midcap index ended up 98 points, or 0.65 per cent higher at 15,192.84, while the S&P BSE SmallCap index ended at 14,920.50, up 158 points, or 1.07 per cent.

BUZZING STOCKS

Among individual stocks, shares of Bharti Airtel ended the day at Rs 350.50, up five per cent from its previous close. The stock of telecom services provider has surged 15 per cent in past two trading sessions, after the company said it will shed its stake in the Bharti Infratel from 50.33 per cent to 18.33 per cent.

Shares of ICICI Bank hit a record high of Rs 388 in the intra-day trade on NSE. The stock, eventually, settled at Rs 388.70 up, 12.85 per cent.

Reliance Industries (RIL), too, hit a 52-week high of Rs 1,333 apiece on BSE in the intra-day trade. The stock ended at Rs 1329.85, up over 2 per cent.

On the contrary, HDFC Life Insurance ended 5 per cent lower at Rs 370.50 apiece on NSE after Standard Life Mauritius Holdings, the joint venture partner in HDFC Life Insurance, said it was planning to sell 4.93 per cent stake, or 99.5 million shares, in the life insurance firm at a floor price of Rs 357.50 per equity share.

GLOBAL MARKETS

The pound jumped and Asian shares rallied on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1.08 per cent, with early gains reinforced by a rise in Chinese shares and oil companies, which were buoyed by higher oil prices. Australian shares were up 0.4 per cent, while Japan's Nikkei stock index jumped 1.9 per cent, helped by a weaker yen.

3:41 PM IST

3:41 PM IST

3:38 PM IST The S&P BSE Sensex added 482 points or 1.30 per cent to end at 37,536 while NSE's Nifty50 index ended above 11,300 level at 11,301, up 133 points or 1.19 per cent. 

3:05 PM IST

2:50 PM IST Given that recent reforms like RERA are paving the way for consolidation in favor of large organized players, CIL stands to benefit in a big way. The value proposition should collectively ensure revenue and operating profit CAGR of 26% and 25% respectively during FY18-21E. Given >15% ROE and solid earnings growth, valuations seem attractive at 9.4x FY21E P/E. We initiate coverage with a BUY rating for target price of Rs.330 (13x FY21E P/E).

2:48 PM IST Shares of Matrimony.com moved higher by 20 per cent to Rs 640, surging 43 per cent in past two trading days on the National Stock Exchange (NSE) on buying by foreign portfolio investor (FPIs). On Monday, March 11, Nalanda India Equity Fund bought 2.11 million equity shares, representing 9.3 per cent stake in Matrimony.com for Rs 108 crore. The FPI acquired shares at price of Rs 509.87 per share through open market via bulk deals on the NSE. READ MORE

2:48 PM IST Valuations in the mid & small cap space had been beaten down significantly over the past one year and at the peak of the India Pakistan tensions they were trading at  ~10% discount to large caps which was last seen in 2013 when India was grappling with twin balance sheet problems, runaway inflation and was reeling under a currency crisis. However, macro conditions are much more stable now and structural changes are like GST, Demonitisation and RERA have set a base for very strong growth over next 3-5 years.   We believe that prospects of a weak Government at the center have receded significantly over the past few weeks which are being factored in by the markets. Mid & Small cap stocks are now available at very reasonable valuations and we expect them to lead the pre-election rally. In the MF space our preference would be for multi cap & mid cap funds over large cap funds

2:34 PM IST COMPANY LATEST PREV CLOSE GAIN(rs) GAIN(%) VOLUME INDUSIND BANK 1576.55 1514.60 61.95 4.09 6122674 ICICI BANK 386.25 375.85 10.40 2.77 28439213 KOTAK MAH. BANK 1268.30 1249.55 18.75 1.50 2546602 AXIS BANK 742.50 734.50 8.00 1.09 6318576 HDFC BANK 2150.00 2128.45 21.55 1.01 2317441 YES BANK 236.70 236.30 0.40 0.17 16792784  

2:15 PM IST COMPANY NAME LATEST HIGH LOW CHG (rs) CHG(%) VALUE (rs CR) VOLUME UNITECH 1.72 1.72 1.66 0.08 4.88 0.81 4736243 INDBULL.REALEST. 82.35 84.85 77.50 5.45 7.09 16.92 2054350 NBCC 61.50 62.90 59.75 2.60 4.41 10.80 1755848 DLF 185.70 187.30 177.50 9.10 5.15 14.84 798903 NITESH ESTATES 7.31 8.23 7.05 0.45 6.56 0.49 676113

2:00 PM IST

1:52 PM IST

LIVE UPDATES

Top sectoral gainers and losers on NSE


Top gainers and losers on S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex added 482 points or 1.30 per cent to end at 37,536 while NSE's Nifty50 index ended above 11,300 level at 11,301, up 133 points or 1.19 per cent. 

Stock picks for 2019 by ICICI Securities


YES Securities on Capacite Infraprojects (CIL)

Given that recent reforms like RERA are paving the way for consolidation in favor of large organized players, CIL stands to benefit in a big way. The value proposition should collectively ensure revenue and operating profit CAGR of 26% and 25% respectively during FY18-21E. Given >15% ROE and solid earnings
growth, valuations seem attractive at 9.4x FY21E P/E. We initiate coverage with a BUY rating for target price of Rs.330 (13x FY21E P/E).

Matrimony.com zooms 43% in two days on FPI buying

Shares of Matrimony.com moved higher by 20 per cent to Rs 640, surging 43 per cent in past two trading days on the National Stock Exchange (NSE) on buying by foreign portfolio investor (FPIs). On Monday, March 11, Nalanda India Equity Fund bought 2.11 million equity shares, representing 9.3 per cent stake in Matrimony.com for Rs 108 crore. The FPI acquired shares at price of Rs 509.87 per share through open market via bulk deals on the NSE. READ MORE

MARKET COMMENT :: Jyoti Roy, DVP - Research, Angel Broking

Valuations in the mid & small cap space had been beaten down significantly over the past one year and at the peak of the India Pakistan tensions they were trading at  ~10% discount to large caps which was last seen in 2013 when India was grappling with twin balance sheet problems, runaway inflation and was reeling under a currency crisis. However, macro conditions are much more stable now and structural changes are like GST, Demonitisation and RERA have set a base for very strong growth over next 3-5 years.
 
We believe that prospects of a weak Government at the center have receded significantly over the past few weeks which are being factored in by the markets. Mid & Small cap stocks are now available at very reasonable valuations and we expect them to lead the pre-election rally. In the MF space our preference would be for multi cap & mid cap funds over large cap funds

Banking stocks surge

COMPANY LATEST PREV CLOSE GAIN(rs) GAIN(%) VOLUME
INDUSIND BANK 1576.55 1514.60 61.95 4.09 6122674
ICICI BANK 386.25 375.85 10.40 2.77 28439213
KOTAK MAH. BANK 1268.30 1249.55 18.75 1.50 2546602
AXIS BANK 742.50 734.50 8.00 1.09 6318576
HDFC BANK 2150.00 2128.45 21.55 1.01 2317441
YES BANK 236.70 236.30 0.40 0.17 16792784
 

Realty stocks surge

COMPANY NAME LATEST HIGH LOW CHG
(rs)
CHG(%) VALUE
(rs CR)
VOLUME
UNITECH 1.72 1.72 1.66 0.08 4.88 0.81 4736243
INDBULL.REALEST. 82.35 84.85 77.50 5.45 7.09 16.92 2054350
NBCC 61.50 62.90 59.75 2.60 4.41 10.80 1755848
DLF 185.70 187.30 177.50 9.10 5.15 14.84 798903
NITESH ESTATES 7.31 8.23 7.05 0.45 6.56 0.49 676113

Market check


Heatmap: S&P BSE Sensex


Bharti Airtel surges 15% in two days on stake sale plan in Bharti Infratel

Shares of Bharti Airtel were trading higher for the second straight day, up 6 per cent at Rs 354 on the BSE on Tuesday. The stock of telecom services provider has surged 15 per cent in past two trading sessions, after the company said it will shed its stake in the Bharti Infratel from 50.33 per cent to 18.33 per cent.
Nettle Infrastructure Investments, a wholly-owned subsidiary of Bharti Airtel, will buy a 32 per cent stake or 591.87 million equity shares in the telecom tower company. READ MORE

Sectoral trends on NSE


RBI inching towards becoming tenth largest holder of gold worldwide

The Reserve Bank of India, which added 6.5 tonnes of gold to its reserves in January, taking its total holding forming part of its foreign exchange reserves to 607 tonnes, is set to become the tenth largest holder of the metal worldwide, displacing the Nerherlands. According to data provided by the World Gold Council on Monday, India’s share of gold held globally has been rising steadily to stand at 6.2 per cent at the end of 2018 and has gone up further in January. READ MORE

Top losers on BSE500

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
LEMON TREE HOTEL 83.65 -4.35 -4.94 68153
NAVKAR CORPORAT. 45.70 -2.25 -4.69 177188
HDFC LIFE INSUR. 372.95 -16.85 -4.32 605683
SUZLON ENERGY 7.12 -0.31 -4.17 6502453
SPICEJET 79.80 -3.40 -4.09 677830
» More on Top Losers

Sensex up over 800 points in two sessions: Here's what's driving the rally

After months of consolidation, the domestic equity market seems to have its mojo back as it has witnessed strong rally in the last two sessions. The S&P BSE Sensex has climbed 847 points or 2.3 per cent in the intra-day trade till Tuesday from March 8 closing level. The Nifty50 index has gained 269 points or 2.44 per cent. The rally is broad-based as buying has emerged across all the sectors. The Nifty Bank index on Tuesday surpassed its all-time closing high of 28,320 hit on August 9, 2018 to hit a high of 28,363.80 in the intra-day trade. READ MORE

Stocks that hit 52-week high on BSE500

COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%)
ADITYA BIR. FAS. 229.60 236.45 3.75 1.66
ASTRAL POLY 1243.25 1264.00 28.05 2.31
AXIS BANK 743.25 749.15 9.10 1.24
BAJAJ HOLDINGS 3328.30 3385.20 23.95 0.72
BATA INDIA 1362.15 1374.00 23.00 1.72
» More on 52 Week High

As 737 MAX planes are grounded, Boeing says will upgrade software in weeks

Boeing Co confirmed late on Monday it will deploy a software upgrade to the 737 MAX 8, a few hours after the Federal Aviation Administration said it would mandate "design changes" in the aircraft by April. Boeing did not reference Sunday's Ethiopian Airlines crash in connection to the software upgrade. The statement did express the company's condolences to the relatives of the 157 people who died, however. READ MORE

Profit upgrades for NTPC, Power Grid on new power tariffs regulations

The Central Electricity Regulatory Commission’s (CERC’s) final regulations on power tariffs for FY19-24 comes as a respite for power utilities, with brokerages upgrading net profit estimates for players such as NTPC and Power Grid. The tariffs have a significant bearing on the ability of power companies to earn a stipulated return. READ MORE

Most active stocks by volume (BSE500)

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
SUZLON ENERGY 7.18 -0.25 -3.36 5411017
SOUTH IND.BANK 15.34 -0.12 -0.78 4599710
REL. COMM. 5.25 -0.13 -2.42 3058292
JP ASSOCIATES 6.77 0.17 2.58 2676851
INDBULL.REALEST. 82.40 5.50 7.15 1770125
» More on Most Active Volume

Contribution to Sensex

COMPANY LATEST CHG(RS) CHG(%) FREE FLOAT
MKT CAP
(RS CR)
CONTRIBUTION
(POINTS)
RELIANCE INDS. 1323.55 22.55 1.73 445318.32 72.64
ICICI BANK 386.20 10.30 2.74 242213.04 62.43
LARSEN & TOUBRO 1389.70 42.05 3.12 189021.38 55.49
HDFC BANK 2150.00 19.95 0.94 458033.29 40.34
AXIS BANK 744.70 10.55 1.44 145343.12 19.65

Markets at noon

Index Current Pt. Change % Change
S&P BSE SENSEX 37,426.44 +372.34 +1.00
 
S&P BSE SENSEX 50 11,747.90 +116.08 +1.00
 
S&P BSE SENSEX Next 50 33,450.08 +171.61 +0.52
 
S&P BSE 100 11,503.10 +105.92 +0.93
 

STOCK ALERT :: Reliance Industries, Axis Bank, Titan, UPL hit record highs

Shares of Reliance Industries (RIL), ICICI Bank, Axis Bank, Titan Company and UPL, from the Nifty 50 index hit their respective record high on the National Stock Exchange (NSE), after a rally in benchmark indices on back of strong foreign portfolio investor (FPI) inflow.
 
Besides these five stocks, Astral Poly Technik, Bajaj Holdings, Bata India, CreditAccess Grameen, Divi’s Laboratories, Gujarat Flurochemicals, Havells India, Info Edge (India), Muthoot Finance, PI Industries and Vinati Organics from the Nifty 500 index also hit their respective new high on Tuesday READ MORE HERE


Kotak Securities on Real estate sector

India’s commercial real estate business continues to be dominated by the Top-3 cities (out of Top-8), that account for 63 per cent of overall absorption and inventory. Bengaluru continues to lead with 94 per cent yoy growth in absorption and single-digit vacancy of 9 per cent yielding rentals of Rs 68/sq. ft per month (+3 per cent yoy). Constrained supply will likely see vacancy levels further improve and possibly lead to improved rentals (especially in Bengaluru). Prestige and Brigade among our coverage universe have exposure to commercial real estate in Bengaluru, while DLF has a large exposure in Gurugram.

Intense competition to keep Blue Dart Express profit under pressure

The stock of Blue Dart Express has increased about 8 per cent from its lows a month-and-a-half ago due to strong revenue growth in the December quarter. Sales in the quarter were up 21 per cent year-on-year and 7 per cent sequentially. READ MORE
 

Reliance Securities bets on HUL

We are initiating coverage on Hindustan Unilever Limited (HUL) with a BUY recommendation and a Target Price of Rs2,000, which implies 17% upside from the current levels. Looking ahead, we expect HUL to witness the fastest earnings growth among the major FMCG companies, notwithstanding the size and scale of operations. HUL is expected to register earnings CAGR of 23% over FY19-21 driven by both organic and inorganic initiatives.

Acquisition of GSK Consumer’s India business provides HUL a strong foothold in the foods segment in terms of diversifying its portfolio and reducing dependence on homecare and personal care segments. At CMP, the stock trades at a premium valuation multiple of 50x FY20E earnings, which we believe to sustain owing to strong growth visibility. We value the stock at 45x FY21E earnings to arrive at our Target Price.


Reliance Securities on J Kumar Infraprojects

We continue to maintain our positive view on J Kumar Infraprojects (JKIL) owing to robust order book, sound execution credentials, consistent focus on high-margin projects in limited geographies, asset light business model and superior management bandwidth. However, recent positive rally in stock price has subsided the concerns of SEBI allegation. We upgrade EBITDA margin estimate by 50 bps for FY21E and hence earnings by 12 per cent. As the current valuations at 6.4x and 5.2x of FY20E and FY21E earnings, respectively appear to be quite attractive, we maintain our BUY recommendation on the stock with a revised target price of Rs 260 (10x FY20 EPS).

MSTC plans to raise Rs 226 crore at the upper band through IPO

State-owned MSTC’s initial public offering (IPO) will remain open for subscription between March 13 and March 15. The company has set the price band for its IPO at Rs 121-128 per share. READ MORE

Momentum picks by ICICI Securities


Morgan Stanley raises 2019 targets for MSCI EM, MSCI Asia Pacific indices

Morgan Stanley has raised the 2019 targets for the MSCI Emerging Market (EM) and MSCI Asia Pacific (excluding Japan) indices, boosting prospects for markets like India. Aggressive stimulus by China, US Federal Reserve’s decision to put interest rate hike on hold and signs of a thaw in the US-China trade war have prompted the brokerage to take an optimistic view on the EM universe. READ MORE

Nomura on banking sector

SBI has decided to link its savings deposits (>INR0.1mn) and cash credit and overdraft loans (>INR0.1mn) to repo rates. The key intention is to have faster transmission of policy rates. In the near term, the change in SA and CC/OD pricing will be positive for SBI’s P&L as SA rates for deposits over INR10mn will reduce from 4% to 3.5% (6-7bps of positive NIM impact).

Over the medium term, the change will make margins less cyclical as SA rates will adjust with repo rate vs. being static earlier. We retain our positive view on SBI and private corporate banks (ICICI [ICICIBC IN, Buy] and Axis Bank [AXSB IN, Buy]) as the current credit cycle is nearing the end and we expect ROEs to normalise by FY20F.

Multi-cap funds run the risk of missing out on the mid- and small-cap rally

The multi-cap schemes, which have the flexibility to invest in stocks across a wide spectrum of market capitalisation, run the risk of missing out on the mid- and small-cap rally as they continue to stick with large-cap stocks. READ MORE

Prabhudas Lilladher on Jubilant Life Sciences

We cut our earnings estimates by 2.2% and 3.9% in FY20E and FY21E respectively, following assumptions of lower sales growth in US formulation. We expect that negative impact of the event as well as raising new debt capital will result in compression of PE multiples.

We reduce assigned EV/EBTIDA to 7.5x (from 8.5x) on FY21E in our SOTP valuations of the company. The current valuation reflects all possible positive developments in the near to medium term. With muted demand offtake in chemical biz (LSI), higher leverage and regulatory uncertainties, we downgrade our recommendation to 'Reduce' and lower TP to Rs703 (Rs822 earlier)

ICICI Securities on consumer sector

Subsidiaries of multinational companies (MNCs) are on the road meeting investors; the first such instance in two decades for many of them. While we like the sudden improvement in disclosure standards (by some of them), we believe that these meetings are primarily to prepare the ground for the upcoming regulation on royalty payments.

Under the new norms, which come into effect from April 1, 2019, any ‘Royalty or Brand payments’ to related parties in excess of 2% of turnover will be treated as ‘Material Transaction’, hence requiring majority of minority shareholders’ approval. We note that within our consumer coverage, Colgate, HUL and Nestle, pay 3-5% royalty to their parent companies for brand and R&D support and will require to get shareholders’ approval if they wish to continue royalty payment over 2%.

Sharekhan on KNR Construction

The successful order intake for KNR after the lull in 9MFY2019 (overall project awards remained muted for the industry) has improved the earnings outlook for the company. Advanced stages of its HAM projects also give us confidence of reviving growth from FY2020. Further, the agreement with Cube Highways for the complete stake sale in three of its HAM projects (due diligence going on for the fourth one) will limit KNR’s equity requirement.

We continue to believe KNR is a strong contender to benefit from the expected uptick in project awards. Hence, we reiterate our Positive view on the stock with 18-20% upside potential.

Larsen & Toubro gains 4% on winning multiple orders; up 10% in two weeks

Shares of Larsen & Toubro were up 4 per cent to Rs 1,403 on the BSE on Tuesday, after the company said its power transmission & distribution business has bagged a number of engineering, procurement and construction (EPC) orders in India and abroad. At 10:43 am, L&T was the largest gainer among the frontline benchmarks, the Nifty 50 and S&P BSE Sensex. The benchmark indices were up 1.2 per cent each. A combined 2.74 million equity shares changed hands on both the exchanges. READ MORE

Centrum on Birlasoft

We met Birlasoft management to get a business update. Post the merger with KPIT Technologies’ IT Services business, BirlaSoft now has ~USD475mn of revenues for FY19E with EBITDA margin of ~13% and ~10,000 employees. Management cited that the consolidated entity has net cash of ~Rs3,500mn on the balance sheet (12.5% of Mcap).

In the Q3FY19 concall, management had cited that the consolidated entity, Birlasoft, would have an EPS of ~Rs10/sh for FY19E. Hence, Biralsoft is currently trading at 10.5x FY19E EPS. We currently do not have a rating on the stock. The detailed operating metrics (vertical mix, service mix) and financial metrics (consolidated balance sheet and cash flows, etc) are not available to investors as yet. We expect more clarity on the combined entity by May 2019.

Edelweiss on GMDC

We initiate coverage on Gujarat Mineral Development Corporation (GMDC) with ‘BUY’. Our conviction is underpinned by two Vs—volume and valuation. We see imminent volume uptick post production ramp up at new mines, despite stagnant prices, resulting in free cash flow accretion of INR11.7bn (~43% of current market cap) through to FY21E.

And, on the valuation front, the stock is trading at the lowest end of its 8-year EV/EBITDA band and discount to other coal companies. Key risks to our thesis are: 1) slow volume ramp up; 2) dip in international coal prices; and 3) unrelated investments. Our INR105 target price implies 3.5x September 2020 EBITDA (past 8 years’ trading average: 3.8x).

Chart Check: 87 stocks in Nifty F&O segment are still trading below 200-DMA

The futures & options (F&O) segment of the Nifty50 index comprises approximately 203 stocks, considering changes based on the ban period. The recent rise in the indices has led to a steep rise in many stocks. Scrips such as Ujjivan Financial Services and Allahabad Bank have spurted 20 per cent. Other major stocks, too, have risen approximately 12-14 per cent, taking support above 200-day moving average (DMA). READ MORE

Global brokerages bullish on Indian stocks despite poll-related uncertainty

Foreign brokerages such as HSBC, BNP Paribas and Morgan Stanley have turned bullish on Indian equities despite the election-related uncertainty. In its recent report, HSBC for instance, has raised its weightage on India from ‘neutral’ to ‘overweight’ and remains bullish on financial, metal, and consumer discretionary sectors in the Indian context READ MORE HERE

Representative image

HEAT MAP :: BSE Sensex


Anand Rathi Securities on Maruti


ICICI Bank hits record high of Rs 388; up 11% thus far in March

Shares of ICICI Bank hit a record high of Rs 388, up 3 per cent, on the National Stock Exchange (NSE) in intra-day trade on Tuesday. The stock surpassed its previous high of Rs 383 touched on January 9, 2019 in intra-day trade. The counter has seen huge volumes with a combined 12.31 million equity shares changing hands in first hour of trading on the NSE and BSE. READ MORE

Nifty Realty index is trading over 3% higher


HDFC Life drops 6% on stake sale announcement by Standard Life

Shares of HDFC Life Insurance dropped as much as 5.8 per cent to Rs 367.55 apiece on the National Stock Exchange (NSE) in the early trade on Tuesday after Standard Life Mauritius Holdings, the joint venture partner in HDFC Life Insurance, said it was planning to sell 4.93 per cent stake, or 99.5 million shares, in the life insurance firm at a floor price of Rs 357.50 per equity share. This is supposed to fetch Standard Life close to Rs 3,557 crore. READ MORE

Market check


Top gainers on BSE500

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
GENERAL INSURANC 275.00 22.95 9.11 10710
MANPASAND BEVER. 111.80 8.60 8.33 35494
G M D C 92.70 6.95 8.10 44619
ASHOKA BUILDCON 148.00 10.75 7.83 21226
GIC HOUSING FIN 266.70 15.70 6.25 4420
» More on Top Gainers

Nifty Realty index is up over 1.50% led by gains in IndiaBulls Real Estate and Sunteck Realty


Shares of HDFC life insurace are trading over 4% lower in the early trade


Sectoral trends on NSE


Opening gainers and losers on S&P BSE Sensex


Markets at open

At 9:17 AM, the S&P BSE Sensex was trading at 37,328.35, up 274.25 points while the broader Nifty50 was ruling at 11,252.65, up 84.60 points

Market at pre-open


Rupee opening

Rupee opens at 69.75/$ vs its previous close of 69.89 against the US dollar

Nifty outlook by Prabhudas Lilladher

Market continued to surge on Monday with all sectors participating; however with the strengthening in rupee, IT stocks got in corrective move. The support for the day is seen at 36,770/11,100 for Sensex and Nifty, respectively while resistance is seen at 37,330/11,230. Bank Nifty would have a range of 27,670-28,250. Mid-cap space, too, has been doing well now has moved past the resistance level along with auto and pharma sectors, showing signs of revival. Metal continues to show strength. READ MORE

Stocks in focus

Jet Airways: Founder-Chairman Naresh Goyal sought Rs 750 crore from Etihad yesterday when the Etihad board discussed bank-led resolution plan for the airline. Also, Jet Airways has informed the exchanges that it has defaulted on part payment of a foreign loan due to liquidity constraints. READ MORE

DII trading activity on NSE, BSE and MSEI


FII/FPI trading activity on NSE, BSE and MSEI


Top trading ideas by Prabhudas Lilladher

BUY ENGINEERS INDIA
CMP: Rs 115.05
TARGET: Rs 130
STOP LOSS: Rs 108
 
The stock has formed a nice higher bottom formation pattern on the daily chart and has signified fresh upward movement maintaining above the significant 34-WMA (weighted moving average). The RSI is on the rise and has shown a trend reversal to signal a buy for a second upper round of momentum. With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 130 keeping a stop loss of Rs 108. READ MORE

Today's picks

Asian Paints
Current price: Rs 1,420
Target price: Rs 1,440
 
Keep a stop at Rs 1410 and go long. Add to the position between Rs 1,432 and Rs 1,435. Book profits at Rs 1440. READ MORE

Rupee check

The Indian rupee Monday advanced by 25 paise to close at 69.89 against the US dollar in line with a strong rally in domestic equities, reflecting positive investor sentiments amid hopes that the incumbent NDA government will get the second term.

Bulk deal on NSE as on Monday

11-Mar-2019 BFUTILITIE BF Utilities Limited ARKAYA INVESTMENTS BUY 1,89,911 198.93 -
11-Mar-2019 BFUTILITIE BF Utilities Limited ARKAYA INVESTMENTS SELL 2,04,311 200.61 -
11-Mar-2019 BOHRA Bohra Industries Limited ADITI SPECIALITY PACKAGING PRIVATE LIMITED BUY 1,50,000 15.94 -
11-Mar-2019 CANDC C & C Constructions Limit ALPHA LEON ENTERPRISES LLP SELL 1,75,000 12.46 -
11-Mar-2019 CANDC C & C Constructions Limit GAURAV CHANDRAKANT SHAH BUY 1,47,799 12.45 -
11-Mar-2019 CGPOWER CG Power & Ind. Sol. Ltd. BHARTI SBM HOLDINGS PRIVATE LIMITED BUY 36,00,000 38.12 -
11-Mar-2019 CGPOWER CG Power & Ind. Sol. Ltd. TOWER RESEARCH CAPITAL MARKETS INDIA PRIVATE LIMITED BUY 40,15,196 37.44 -
11-Mar-2019 CGPOWER CG Power & Ind. Sol. Ltd. TOWER RESEARCH CAPITAL MARKETS INDIA PRIVATE LIMITED SELL 40,15,196 37.47 -
11-Mar-2019 JETAIRWAYS Jet Airways (India) Ltd. TOWER RESEARCH CAPITAL MARKETS INDIA PRIVATE LIMITED BUY 6,40,560 249.93 -
11-Mar-2019 JETAIRWAYS Jet Airways (India) Ltd. TOWER RESEARCH CAPITAL MARKETS INDIA PRIVATE LIMITED SELL 6,40,560 249.97 -

Click here for the full list

Oil check

Oil prices rose on Tuesday, lifted by healthy demand and output cuts led by producer group OPEC. A rally in broader financial markets also supported crude futures, although analysts still warned of risks to the global economy.

US West Texas Intermediate (WTI) crude oil futures were at $56.97 per barrel at 0054 GMT, up 18 cents, or 0.3 per cent, from their last settlement. Brent crude futures were at $66.75 per barrel, up 17 cents, or 0.3 per cent.

SGX Nifty

Nifty futures on Singapore Exchange (SGX) were trading at 11,261.50, up 49 points or 0.44 per cent in early trade

Asian Markets check

Asian shares rose on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. In early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent, following on from a rally on Wall Street overnight. Australian shares were up 0.4 per cent, while Japan’s Nikkei stock index jumped 1.6 per cent.

Wall Street check

US stocks followed strong gains in Europe with the tech-heavy Nasdaq rising 2 per cent and the benchmark S&P more than 1 per cent after Wall Street posted losses every day last week. The Dow Jones Industrial Average rose 200.64 points, or 0.79 per cent, to 25,650.88. The S&P 500 gained 40.23 points, or 1.47 per cent, to 2,783.3 and the Nasdaq Composite added 149.92 points, or 2.02 per cent, to 7,558.06.
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