Markets Live: Sensex ends marginally higher; Lupin, BPCL top gainers on Nifty

US-China trade war fears weigh on sentiment

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4 pm

Closing bell

Domestic equities ended slightly higher, led by gains in stocks such as Lupin Ltd, but the broader gains were capped as the sentiment was subdued following US President Donald Trump’s proposal to impose more tariffs on China.

The 30-share BSE index Sensex ended up 30.19 points or 0.09 per cent at 33,626.97 and the 50-share NSE index ended flat at 10,331.60. Both indexes posted a weekly gain of 2 per cent each.

 

Lupin, the top gainer on the NSE index, rose after the drugmaker said its facility received an establishment investigation report from the US Food and Drug Administration.

Top 10 Nifty gainers

 

Oil refiners, however, rose on lower global crude oil prices, with Bharat Petroleum Corp Ltd ending up by 2.87 per cent and Hindustan Petroleum Corp Ltd up 1.64 per cent.

Top 10 Nifty losers

 

Among BSE sectoral indices, healthcare index was up 0.94 per cent, followed by oil & gas 0.83 per cent, PSU 0.66 per cent and consumer durables 0.62 per cent, while TECk index fell 0.7 per cent, capital goods 0.52 per cent, IT 0.51 per cent and metal 0.16 per cent.

 

 

3.55 pm

Global markets

Stock markets fell after US President Donald Trump’s threat to impose an extra $100 billion in tariffs on China exacerbated fears of a more serious trade dispute, while the dollar paused ahead of crucial US payrolls data.

Britain’s FTSE 100 dropped 0.3 per cent, while the Germany’s DAX was down 0.56 per cent and France’s CAC 40 0.41 per cent.   –  Reuters

 

3.40 pm

Bullion prices

Gold prices went down by Rs 200 to Rs 31,350 per ten grams, much in tandem with a weak trend overseas and low demand from local jewellers.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity plunged by Rs 200 each to Rs 31,350 and Rs 31,200 per ten grams, respectively.

 

3.35 pm

Silver futures

Silver prices edged higher by 0.09 per cent to Rs 38,821 per kg at the futures trade as speculators created fresh positions.

3.30 pm

Gold futures

Gold prices went up by 0.31 per cent to Rs 30,642 per 10 grams at futures trade as speculators raised bets owing to positive global cues.

3.25 pm

Illiquid stocks

With an aim to safeguard investors’ interest, leading stock exchanges — BSE and NSE — have advised their members to take extra caution while trading in as many as 194 illiquid stocks. Read more

3.20 pm

BoB hikes MCLR

Bank of Baroda has upped its marginal cost of funds based lending rate by 10 basis points across all tenors.

 

3.05 pm

Pre-close trade

The Sensex was trading up by nearly 100 points on heavy buying in healthcare, oil & gas, PSU and realty stocks amid weak global cues.

At 3 pm local time, the Sensex was up 83.22 points or 0.25 per cent at 33,680.02 and the Nifty up 24.15 points or 0.23 per cent at 10,349.40.

Healthcare index gained the most by 1.08 per cent, followed by oil & gas 1.02 per cent, PSU 0.88 per cent and realty 0.81 per cent, while TECk index fell 0.53 per cent, IT 0.31 per cent and capital goods 0.07 per cent.

Top five Sensex gainers were ICICI Bank, Sun Pharma, Adani Ports, Tata Steel and Maruti, while the major losers were Bharti Airtel, Infosys, Bajaj Auto, L&T and Axis Bank.

2.45 pm

What does the ban on servicing cryptocurrencies mean?

The Finance Minister made it clear in the recent Union Budget that virtual currencies cannot be treated as a currency to buy or sell goods or services when he stated that cryptocurrencies are not legal tender. The RBI has gone one step ahead making it clear that these cryptocurrencies cannot be treated as an asset either.

 

2.30 pm

RBI switches back to GDP model

The Reserve Bank of India has switched back to the gross domestic product (GDP)-based measure to offer its growth estimates from the gross value added (GVA) methodology, citing global best practices.

 

 

2.15 pm

Govt asks Hong Kong to arrest Nirav Modi

India has asked authorities in Hong Kong to arrest jeweller Nirav Modi, one of the main suspects in a $2-billion fraud at state-run Punjab National Bank.

File Photo of jeweller Nirav Modi.

 

1.55 pm

IndianOil buys stake in Mukhaizna oifield

Indian Oil Corporation Ltd has acquired a 17 per cent participating interest in the Mukhaizna Oilfield, Oman, through its wholly owned Singapore subsidiary.

25BL25_MW_IOC1   –  The Hindu

 

1.40 pm

Domestic shares edged lower, dragged down by market heavyweights such as Infosys Ltd and tracking global peers, as sentiment soured on renewed fears of a trade war after US President Donald Trump proposed more tariffs on China.

The broader NSE index was down4.75 points or 0.05 per cent at 10,320.40 at 1.35 pm local time, but was set to post a weekly gain of 1.85 per cent. The benchmark BSE index was up 14.24 points or 0.03 per cent at at 33,608.07, but was on track to gain 1.75 per cent this week.

 

Infosys and Larsen and Toubro Ltd slid more than 1 per cent each, contributing most to the losses on both indexes.

Top 10 Nifty losers

 

The Nifty PSU bank index fell as much as 1.6 per cent, after closing up 4.9 per cent in the previous session following the Reserve Bank of India’s policy statement. State Bank of India fell as much as 1.7 per cent.

 

The Reserve Bank of India held policy rates steady on Thursday, retaining its “neutral” stance, but cut its inflation view amid easing price pressures, spurring a rally in markets.

Oil refiners, however, rose on lower global crude oil prices, with Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd gaining over 2 per cent each.

Top 10 Nifty gainers

 

“The volatility in markets in the last 10 days has unnerved a lot of people. We haven’t seen the end of the trade war between Trump and China, which is creating confusion in investors’ minds,” said Dilip Bhat, joint managing director at Prabhudas Lilladher Pvt Ltd.

“On the positive side, a couple of things are getting clearer after yesterday’s policy – growth will be decent and the government’s borrowing program indicates they won’t go overboard in borrowing,” Bhat said.

Trump said on Thursday that he had directed US trade officials to identify tariffs on $100 billion worth additional Chinese imports, escalating the dispute between the world’s two largest economies.

Asian shares ex-Japan slipped 0.13 per cent, while US stock futures fell more than 1 per cent. Global markets have been volatile this week amid the back-and-forth of the US-China trade conflict.

1.20 pm

Crude drops on tariffs threat

Brent crude for June delivery was down 45 cents, or 0.66 per cent, at $67.88 per barrel at 0645 GMT. US West Texas Intermediate crude for May delivery was down 41 cents, or 0.65 per cent, at 63.13 a barrel.

Brent crude for June delivery was down 45 cents, or 0.66 per cent, at $67.88 per barrel at 0645 GMT   –  Reuters

 

1.05 pm

Buy gold if it dips to $1,315/oz

In the coming week, we expect $1,310-15 to hold for a push higher towards $1,355 or even higher to $1,374. Unexpected fall below $1,302 could see a sharp decline to $1,278-80, which is not our favoured view.

 

 

12.50 pm

Gold rises on safe-haven buying

Spot gold rose 0.3 per cent to $1,330.18 per ounce as of 0320 GMT, and the US gold futures rose 0.4 per cent to $1,333.50 an ounce. The yellow metal was up 0.5 per cent so far this week.

Spot gold rose 0.3 per cent to $1,330.18 per ounce as of 0320 GMT, and the US gold futures rose 0.4 per cent to $1,333.50 an ounce

 

12.35 pm

Nifty futures

The Nifty 50 futures contract is stuck in a narrow range. Traders can stay away from the market at the moment, until a range breakout gives out a clear cue on the next trend.

 

12.25 pm

Oil refiners climb

Shares of oil refiners climbed as crude prices dropped after US President Donald Trump’s threat of new tariffs on China reignited fears of a trade war between the world’s two biggest economies.

 

12.10 pm

Axis Bank may fall further

Axis Bank Ltd, which has fallen about 20 per cent since hitting an over 16-month high of Rs 627.6 on January 23, may fall further as suggested by its technical chart.

A break below Rs 490 may lead to a fall towards Rs 447.50, the 100 per cent retracement level with some support near the 86.4 per cent level at Rs 472.   –  Reuters

 

11.55 am

Dollar falls from 1-month high

The dollar fell against the yen after US President Donald Trump said he had instructed US trade officials to consider $100 billion in additional tariffs on China.

 

11.40 am

Domestic equities were trading marginally lower due to profit-booking by funds and retail investors amid weak global cues.

At 11.40 am, the 30-share BSE index was down 19.47 points or 0.06 per cent at 33,577.33 and the 50-share NSE index Nifty down 10.9 points or 0.11 per cent at 10,314.25.

Sensex gainers, losers

Top 10 Nifty gainers

Top 10 Nifty losers

 

US stock futures slid and the yen rose against the dollar on Friday after US President Donald Trump proposed additional tariffs on China, aggravating trade tensions and smothering a revival in broader investor risk appetite.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.25 per cent. The index has spent the week swinging wildly in and out of negative territory amid the back-and-forth of the US-China trade dispute.

11.25 am

Sobha stock rallies nearly 11%

Shares of real estate company Sobha jumped on robust results. The stock surged as much as 10.8 per cent to Rs 564 in its biggest intraday percentage gain since January 22.

11.15 am

EOW freezes 63 moons bank account

The Jignesh Shah-promoted company has been under investigative agencies’ scanner ever since its subsidiary National Spot Exchange failed to settle trades worth 5,600 crore executed on its platform in 2013.

10.55 am

Asian markets

US stock futures slid and the yen rose against the dollar on Friday after US President Donald Trump proposed additional tariffs on China, aggravating trade tensions and smothering a revival in broader investor risk appetite.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.25 per cent.

 

10.40 am

Rupee gains on dollar selling

The rupee strengthened by 3 paise to 64.94 against the US dollar on increased selling of the American currency by banks and exporters.

 

10.30 am

Nikkei remains choppy

The Nikkei share average edged up 0.1 per cent to 21,677.72 in midmorning trade, after trading in and out of the black in early deals. For the week, the index has gained 0.8 per cent so far.

The broader Topix dropped 0.5 per cent to 1,592.77. File Photo

The Nikkei share average edged up 0.1 per cent to 21,677.72 in midmorning trade, after trading in and out of the black in early deals.

 

10.20 am

Domestic equities were trading flat owing to weak global cues after President Donald Trump proposed additional tariffs on China, aggravating trade tensions and smothering a revival in broader investor risk appetite.

At 10.15 a.m., the Sensex was up 4.48 points or 0.01 per cent at 33,601.28 and the Nifty down 9 points or 0.09 per cent at 10,316.15.

 

Profit-booking by funds and retail investors after posting huge gains of 578 points on Thursday also dampened the trading sentiment.

Among BSE sectoral indices, oil & gas gained the most by 0.91 per cent, followed by healthcare 0.88 per cent, realty 0.69 per cent and PSU 0.22 per cent. On the other hand, capital goods index was up 0.52 per cent, TECk 0.47 per cent, metal 0.42 per cent and IT 0.41 per cent.

Top five Sensex gainers were Adani Ports, Reliance, Dr Reddy’s, ONGC and Sun Pharma, while the major losers were L&T, Bharti Airtel, Axis Bank, Infosys and HUL.

10.10 am

SEBI crackdown on F&O trades

In what could be the largest penalty proceedings by any regulator in India, SEBI has now revealed it will take action against 14,720 entities that had indulged in non-genuine trades or sham transactions in the equity derivatives segment.

Traders can stay out of the market until a range breakout gives a clear trade signal.

 

10 am

Akzo Nobel buyback

Shares of Akzo Nobel India will remain in focus today, as its board of directors will meet to consider a proposal to buy back equity shares.

 

9.50 am

What to watch

Shares of Sona Koyo Steering Systems will remain in focus, as JTEKT Corporation, promoter of the company, proposes to sell up to 35.148 lakh shares on April 6 (for non-retail investors) and on April 9 (for retail investors and for non-retail investors who wish to carry forward their bids).

9.40 am

What to watch

The board of directors of Enkei Wheels (India) will meet on April 14 to consider and approve issue of equity shares to its promoter Enkei Corporation, Japan, on preferential basis.

9.30 am

FPIs’ short squeeze sparks sharp rally

A severe crash one day and a sharp rally the next. What is causing such volatility in stock markets and what direction will it take from here?  

 

9.20 am

Day Trading Guide

 

1907 • HDFC Bank

S1 S2 R1 R2 COMMENT
1895 1884 1918 1930 Consider initiating fresh long positions with a stiff stop-loss only if the stock advances above ₹1918 levels

1145 • Infosys

S1 S2 R1 R2 COMMENT
1134 1124 1155 1165 Fresh long positions are recommended with a tight stop-loss if the stock of Infosys moves beyond ₹1155 levels

 

 

9.15 am

The Sensex opened up by 11.79 points at 33,608.59 against the previous close of 33,596.80 and the Nifty down 2.4 points at 10,322.75.

9.05 am

Today’s stock pick

L&T Finance Holdings (171.6): Buy

Investors with a short-term perspective can buy the stock of L&T Finance Holdings at current levels.

Source thehindubusinessline.com
Via thehindubusinessline.com

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