MARKETS ON TUESDAY: Sensex, Nifty end marginally higher; realty stocks gain

The domestic indices ended higher on Tuesday, led by gains in FMCG and realty indices.


The domestic indices ended marginally  higher on Tuesday, led by gains in FMCG and realty indices.

The S&P BSE Sensex ended at 34,395, up 90 points while the broader Nifty50 index settled at 10,549, up 20 points.

Among sectoral indices, the Nifty Realty index was over 1% higher led by a rise in the shares of Godrej Properties and Indiabulls Real Estate.

That apart, investor sentiments were positive during the day following the forecast of a normal monsoon this year by the India Meteorological Department (IMD).

Releasing its first forecast for the southwest monsoon, the IMD said rainfall in June-September was projected at 97 per cent of the long period average (LPA), with a model error of plus and minus 5 per cent. If monsoon rains lift farm output, it can boost demand for consumer goods as it raises incomes of rural people.

Asia stocks rose modestly on Tuesday following data showing China’s economy grew a little faster than expected in the first quarter.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.05 per cent. South Korea’s KOSPI dipped 0.1 per cent and Hong Kong’s Hang Seng gained 0.15 per cent. Shanghai rose 0.15 per cent and Japan’s Nikkei was flat.

(with Reuters inputs)

  • 03:43 PM

    Nifty Realty Index ends 1.19% higher. Top gainers: 

    GODREJ PROPERT. 764.20 725.60 38.60 5.32
    PHOENIX MILLS 585.80 573.50 12.30 2.14
    INDBULL.REALEST. 194.75 191.75 3.00 1.56
    DLF 216.90 214.50 2.40 1.12
  • 03:39 PM

    Sectoral Trend

  • 03:37 PM

    BSE Sensex: gainers and losers of the day

  • 03:33 PM

    Market at close
    The S&P BSE Sensex ended at 34,395, up 90 points while the broader Nifty50 index settled at 10,549, up 20 points.
  • 03:32 PM

    Nifty Highlights MRF hits new high touches Rs 80,000
    Stock Quote:
  • 03:15 PM

    Hotel stocks rally; Taj GVK, Royal Orchid, EIH zoom over 15%
    Shares of hotel companies have rallied by up to 20% in otherwise range-bound market with 8 out of 15 top gainers from the hotel sector. Taj GVK Hotels, Oriental Hotels, Royal Orchid Hotels, EIH, EIH Associated Hotels, Advani Hotels & Resorts (India), Kamat Hotels (India) and Viceroy Hotels were up between 12% and 20% on the BSE.
  • 03:00 PM

    Steel Strips Wheels hits record high on repeat export order
    Shares of Steel Strips Wheels (SSWL) was up 4% to Rs 1,269 per share, also its record high on the BSE in intra-day trade, after the company bagged repeat order of 41,000 caravan wheels from Europe.
    “The company bagged yet another big exports order for supply of steel wheels for EU Caravan market. Order comprises of approx. 41,000 steel wheels to be shipped from the company’s Chennai plant from next month onwards,” SSWL said in a regulatory filing.
  • 02:45 PM

    FMCG stocks in focus: HUL, Britannia, Nestle India hit new highs
    Shares of fast moving consumer goods (FMCG) companies such as Hindustan Unilever (HUL), Britannia Industries, Nestle India and Jubilant FoodWorks have hit their respective new highs on the BSE on expectation of good profit growth.
    Thus far in the month of April, all these four stocks have outperformed the market by gaining in the range of 8% to 9% on the BSE. On comparison, the S&P BSE Sensex and S&P BSE FMCG index were up 4% and 5%, respectively.
  • 02:30 PM

    Favourable monsoon forecast may have limited impact on markets: here’s why
    The S&P BSE Sensex has given average returns of 29.75 per cent during below-normal rainfall years – those in which rainfall is at least 10 per cent short of the long-period average (LPA), according to the India Meteorological Department.
    The Sensex was up 13.08 per cent in 2004, when rainfall fell 13 per cent of the LPA. It rebounded 81.03 per cent in 2009 after the global financial crises, when rainfall fell short by 22 per cent. It again rose 29.89 per cent in 2014, when rains fell short by 12 per cent. The only exception was 2015, when the index fell 5.03 per cent, even as rainfall fell 14 per cent short.

    Monsoon. (Photo: Shutterstock)
  • 02:17 PM

    Banking sector preview Q4FY18: HDFC and IndusInd banks remain top picks
    Banking stocks had a roller coaster ride over the last few months. Cases of fraud have changed the way banking sector was looked at. While the fraud related cases are restricted to a few banks as of now, the fear that more issues could come up has made investors looking at the true book value of banks in a more prudent way. The biggest question is, what is the true book value of banks adjusting for all the stressed assets?
    While the sector was already struggling with the above issues the rising bond created further trouble. However, the regulators’ last move of allowing banks to amortize MTM losses on bonds over four quarters brings in some relief. The move could leave banks with relatively higher income which could be used for providing bad assets that might come up during the quarter. While this comes as a near-term relief the bond yields in India is unlikely to soften further in the coming months.
  • 02:01 PM

    Market Check

    S&P BSE Sensex 34,337.76 Up 0.09%
    Nifty 50 10,531.45 Up 0.03%
    S&P BSE 200 4,631.68 Up 0.09%
    Nifty 500 9,316.10 Up 0.05%
    S&P BSE Mid-Cap 16,746.79 Up 0.07%
    S&P BSE Small-Cap 18,126.06 Up 0.24%
  • 01:47 PM

    Volume Toppers

    IDEA CELLULAR 71.80 0.55 0.77 43518548
    REL. COMM. 21.15 0.05 0.24 4594105
    ADITYA BIR. FAS. 150.50 2.10 1.42 2223034
    JP ASSOCIATES 19.45 -0.25 -1.27 2106090
    POWER GRID CORPN 204.95 5.90 2.96 1979171
  • 01:31 PM

    Will Reliance Industries’ quarterly profit scale past Rs 100 billion?
    Textiles to telecom conglomerate, Reliance Industries (RIL) is expected to post its best-ever quarterly consolidated net profit, with the figure expected to be close to Rs 100 billion mark.
    The strong quarterly expectations are on the back of its petrochemicals segment performance. In addition, retail and telecom are likely to help the company’s March 2018 quarter (Q4) performance. “The petrochemicals segment is expected to do better due to healthy deltas and strong volume growth,” said analysts at Motilal Oswal Securities, which estimates RIL to clock a net profit of Rs 95.40 billion in Q4.
  • 01:15 PM

    ATMs run out of notes: Here’s the reason behind the massive cash crunch

    States, including Gujarat, Uttar Pradesh, Madhya Pradesh, Bihar, Andhra Pradesh, Manipur and Telangana, have reported shortage of cash at ATMs. A stock-taking analysis submitted by the Reserve Bank of India (RBI) found that the rate of cash withdrawal was much higher than the rate of cash deposits in Andhra Pradesh, Bihar, Karnataka, Maharashtra, Rajasthan, Uttar Pradesh, Madhya Pradesh, and Telangana, among other states. Complaints of cash crunch have been reported from semi-urban and rural regions of the states

  • 01:00 PM

    After 37% jump in FY18, analysts turn cautious on real estate sector

    After rallying nearly 37 per cent in the last financial year (FY18) as compared to around 10 per cent rise in the benchmark Nifty50, the Nifty Realty index has performed in line with the broader markets thus far in FY19.
    The huge outperformance in FY18, analysts say, was on account of implementation of the Real Estate (Regulation and Development) Act (RERA) and government’s focus on affordable housing amid strengthening economy and steady interest rates. The sharp run-up has now turned analysts cautious on this space
  • 12:47 PM

    SPECIAL REPORT Where to invest ahead of 2019 general elections? Morgan Stanley answers

    With the markets yet to price in the outcome of the general elections scheduled for May 2019, investors would be better off adding defensive and cyclical counters with a focus on large-cap stocks, suggests Ridham Desai, head of India research and India equity strategist at Morgan Stanley in a co-authored report with Sheela Rathi.
    “It is unlikely that the market is as optimistic as it has been in the past going into the 2019 elections. Post-election performance is purely a function of what’s been priced in ahead,” they say

    morgan stanley

    morgan stanley
  • 12:31 PM

    Vehicle-finance firms in fast lane; share prices up 7-17% in past one month
    The share prices of vehicle-finance companies are up 7-17 per cent in the past one month.
    One reason being that the companies are expected to post a strong set of numbers for the January-March 2018 quarter (Q4), mainly because of hefty vehicle sales. Notably, the trend is likely to continue till FY19, and this should reflect favourably on the share price returns, despite their outperformance in the past one year.
  • 12:15 PM

    Divi’s stock: Pricing pressure for drug makers can lead to more outsourcing
    Divi’s Laboratories is among the few pharma companies that have outperformed in the last one year with its share price ticking up 75 per cent. Regulatory concerns regarding the contract research and manufacturing services (or CRAMS) major, which get most of its revenue from exports, have hurt the Street’s sentiment.
  • 12:01 PM

    Markets at Noon

    S&P BSE Sensex 34,324.47 Up 0.06%
    Nifty 50 10,522.00 Up -0.06%
    S&P BSE 200 4,631.25 Up 0.08%
    Nifty 500 9,311.15 Up -0.00%
    S&P BSE Mid-Cap 16,766.42 Up 0.19%
    S&P BSE Small-Cap 18,119.17 Up 0.20%
  • 11:45 AM

    Diagnostic chain Metropolis mulls $230 million IPO
    Metropolis Healthcare, an operator of medical diagnostic centers backed by Carlyle Group LP, is considering an initial public offering (IPO) to raise about Rs 15 billion ($230 million) as it seeks acquisitions.
    The sale will likely include a partial stake held by the founders as well as new shares, Managing Director Ameera Shah, said in an interview. A time frame for the offering has not been set and the company hasn’t appointed an adviser for the sale, she said.
  • 11:34 AM

    Stocks at 52-week high

    AARTI INDS. 1282.60 1287.00 5.95 0.47
    APOLLO TYRES 303.05 307.15 3.05 1.02
    BAJAJ ELECTRICAL 658.50 665.85 39.30 6.35
    BALKRISHNA INDS 1341.50 1351.20 19.75 1.49
    BRITANNIA INDS. 5395.95 5407.00 84.05 1.58
  • 11:15 AM

    Kotak Mahindra Bank pips State Bank of India in market capitalisation
    Private sector lender Kotak Mahindra Bank on Monday surpassed state-run State Bank of India (SBI) in terms of market capitalisation. At the start of the year, SBI’s market value was 44 per cent more than that of Kotak Mahindra Bank. Since then, shares of SBI have corrected 19 per cent, while that of Kotak Mahindra Bank have risen 16 per cent.
  • 11:01 AM

    Vehicle-finance firms in fast lane; share prices up 7-17% in past one month
    The share prices of vehicle-finance companies are up 7-17 per cent in the past one month. One reason being that the companies are expected to post a strong set of numbers for the January-March 2018 quarter (Q4), mainly because of hefty vehicle sales. Notably, the trend is likely to continue till FY19, and this should reflect favourably on the share price returns, despite their outperformance in the past one year.
  • 10:49 AM

    M&M joins Rs 1-trillion market-cap club; stock hits new high
    Mahindra & Mahindra (M&M) has joined the elite club Rs 1-trillion market capitalization (market-cap) on the BSE, as its share price hit an all-time high of Rs 819 in early morning trade on Tuesday. With the market-cap of Rs 1.01 trillion at 10:00 am; M&M stood at number 30th position in overall market-cap ranking, the BSE data shows. Currently, M&M stood just behind of Tata Motors, which has market-cap of Rs 1.08 trillion (include Tata Motors DVR).

    Mahindra & Mahindra, Mahindra Two Wheelers, Tech Mahindra, Mahindra auto, M&M group, software, auto, auto component, SUVs, Mahindra tractors, Ford, Renault

  • 10:31 AM

    Investors bet high on SIPs: MFs garner Rs 672 bn in FY18, up 53% from FY17
    Retail investors are preferring SIP option for investing in mutual funds, with the industry garnering around Rs 671.9 billion through this route in 2017-18, an increase of 53 per cent from the preceding fiscal.
    In comparison, Rs 439.21 billion was collected through the investment plan in 2016-17, according to the latest update with Association of Mutual Funds in India (Amfi).
  • 10:18 AM

    Bajaj Electricals shares surge 7% on order win of Rs 35.78 billion in UP
    Shares of Bajaj Electricals have surged 7% to Rs 660 per share on the BSE in early morning trade after the company said it has bagged orders worth of Rs 35.78 billion for rural/urban electrification projects in the state of Uttar Pradesh from Madhyanchal Vidyut Vitaran Nigam Limited (MVVNL).
    The projects shall be completed within 15 months from the date of issue of LoI, the company said in the filing.
  • 10:02 AM

    Market Check

    S&P BSE Sensex 34,362.31 Up 0.17%
    Nifty 50 10,542.10 Up 0.13%
    S&P BSE 200 4,639.65 Up 0.26%
    Nifty 500 9,331.40 Up 0.22%
    S&P BSE Mid-Cap 16,806.49 Up 0.43%
    S&P BSE Small-Cap 18,180.21 Up 0.54%
  • 09:56 AM

    ICICI Prudential Mutual Fund is top public shareholder in ICICI Securities
    ICICI Prudential Mutual Fund (MF) has emerged as the largest public shareholder in sister concern, ICICI Securities, which debuted earlier this month.
    The country’s largest asset manager invested Rs 6 billion, nearly a fifth of the issue size, in the group company’s initial public offering (IPO), which had garnered 78 per cent subscription. Through the maiden offer, parent ICICI Bank was looking to divest a 24 per cent stake for Rs 40 billion. However, the private lender could divest only a 20.8 per cent stake due to lack of demand and raised Rs 35 billion.
  • 09:40 AM

    Cheer for ONGC investors: Higher oil and gas prices should drive earnings
    The Oil and Natural Gas Corporation (ONGC) stock has significantly lagged the benchmark S&P BSE Sensex over the past year, even as prices of crude oil, its mainstay, have rallied (see chart). There has been some catching up in the past week, led by improving prospects in the business. If the trend sustains, which seems likely, ONGC’s investors could see good returns.
  • 09:24 AM

    Top Nifty Metal gainers

    VEDANTA 293.40 290.30 3.10 1.07
    HIND.COPPER 72.75 72.05 0.70 0.97
    JINDAL STAIN .HI 190.80 189.00 1.80 0.95
    HINDALCO INDS. 241.50 239.45 2.05 0.86
    WELSPUN CORP 152.70 151.50 1.20 0.79
    MOIL 217.35 215.75 1.60 0.74
  • 09:18 AM

    Sectoral Trend

  • 09:17 AM

    Top Sensex gainers and losers

  • 09:15 AM

    Markets at open

    At 9:15 am, the S&P BSE Sensex was trading at 34,321, up 16 points while the broader Nifty50 index was ruling at 10,535, up 7 points

  • 09:00 AM

    Markets at pre-open

    Index Current Pt. Change % Change
    S&P BSE SENSEX 34,458.33 +152.90 +0.45
    S&P BSE SENSEX 50 11,042.62 +30.01 +0.27
    S&P BSE SENSEX Next 50 34,452.16 +79.73 +0.23
    S&P BSE 100 10,962.21 +28.74 +0.26
    S&P BSE Bharat 22 Index 3,575.57 +13.36 +0.38

    (Source: BSE)

  • 08:52 AM

    Air India should be run by an Indian firm, says RSS Chief Mohan Bhagwat

    Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat said on Monday Air India should be handed over to an Indian company and foreign investors should not be allowed to participate in the national carrier’s disinvestment. “If the problem is that Air India has not been run properly, hand it over to someone who can do it and it should only be an Indian firm,” he said

    Mohan Bhagwat (right) at the BSE in Mumbai on Monday. (Photo: Kamlesh Pednekar)

    Mohan Bhagwat (right) at the BSE in Mumbai on Monday. (Photo: Kamlesh Pednekar)
  • 08:51 AM

    Oil prices rise amid risk of supply disruptions
    Oil prices rose on Tuesday amid worries there could be a high risk of disruptions to supply, especially in the Middle East. Brent crude oil futures were at $71.80 per barrel at 0120 GMT, up 38 cents, or 0.5 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were up 39 cents, or 0.6 per cent, at $66.61 a barrel.
  • 08:50 AM

    Uttam Galva Steels offers to pay back full default amount of Rs 52 billion

    Uttam Galva Steels, a non-performing asset for more than a year, has offered lenders an out-of-court settlement to pay back its entire default amount of Rs 52 billion. Though Uttam Galva was on the Reserve Bank of India’s second list of defaulting companies that had been referred to the National Company Law Tribunal (NCLT) for insolvency proceedings, it has not been admitted yet
  • 08:48 AM

    Jefferies on ONGC

    At ONGC, oil and gas production fell q/q. Realisations are important, though, where gas should be flattish but that for oil and product higher helped also an expanding Bonny-Brent spread. Even so, we expect EBITDA to fall 16% q/q (+19% y/y) on higher year-end opex. Depreciation, Depletion and Amortization (DD&A) may be elevated too but the recent HPCL acquisition should help in lifting dividend income offset somewhat by higher interest costs on the Rs 310 billion debt leaving EPS 11% higher q/q (+29% y/y). We keep our BUY noting that the shares are pricing in $55 Brent

  • 08:46 AM

    TREND WATCH Nifty may continue its rebound till 10,650

    The Nifty continues to rise, although the momentum of the uptrend has slowed. It has now pulled above the 10,500 mark, which is well above the 200-Day Moving Average (200-DMA). This could still be a dead-cat bounce.

  • 08:45 AM

    Sharekhan on Shoppers Stop Limited (SSL)

    We believe the sale of Hypercity augurs well for SSL, as it enabled it to deleverage its balance sheet (as of Q3FY2018, outstanding debt was reduced to Rs. 237 crore, as against Rs. 536 crore in Q2FY2018, which is a reduction of Rs. 299 crore) and enhance focus on the more profitable departmental store format. Further, with focus on core departmental store format, standalone margins are expected to improve with overall improvement in operating efficiencies. Thus, we expect operating profit margin (OPM) to reach at ~7% in FY2019 (management is targeting 8%) from 5.3% in FY2017

  • 08:44 AM

    Today’s picks: From Titan to ITC, stocks to watch on Tuesday
    Current price: Rs 980
    Target price: Rs 965
    Keep a stop at Rs 990 and go short. Add to the position between Rs 967 and Rs 970. Book profits at Rs 965.
  • 08:44 AM

    Emkay Global on Nestle India

    Nestle India’s recovery is gaining momentum, with recent growth outperforming peers, driven by new CEO’s strategy to focus on volume-led growth, drive a faster pace of innovation and expand distribution. With a revitalised core portfolio and increased focus on growth, we believe that Nestle’s new strategy can deliver higher growth vs. peers given the huge growth opportunity in its core categories. Softer input prices and cost savings are also improving the outlook on margin and can drive further earnings upsides – we estimate 20% earnings CAGR over CY18-20E.

    Valuation at 39x June’20E earnings are in line with the top-performing peers but look attractive given the likely upsides to earnings. With new leadership providing an improved growth outlook, we turn positive on Nestle and upgrade the stock to ACCUMULATE from HOLD with a revised Target Price of Rs9,900, valuing it at EV/EBITDA of 27x June’20E

  • 08:43 AM

    Kotak Securities on NALCO

    Given the recent uptick in aluminium prices, we believe, NALCO should report improvement in operating performance for its Aluminium segment from 1QFY19 onwards, provided the current LME prices sustain. Besides, this the sharp surge in Alumina prices would also boost the overall earnings for the company.

    We revise our earnings to Rs7.5 (earlier Rs7.0) and Rs7.7 (earlier Rs7.6) for FY19E and FY20E, respectively. While we continue to assess the development, a positive impact on aluminium and alumina is apparent in the near term. At current valuation of 5.0x/4.7x FY19E/FY20E EBITDA, the stock is trading at attractive level. We continue to maintain our BUY rating with an unchanged target price of Rs100

  • 08:42 AM

    Top trading ideas from Prabhudas Lilladher for today

    CMP: Rs 1,228.40
    TARGET: Rs 1,300
    STOP LOSS: Rs 1,170
    The stock has given a breakout about the resistance level of Rs 1220 and also has moved past the significant 50 DMA moving average to signify strength and potential to rise further in the coming days. The RSI has also shown a trend reversal in the recent past and has maintained a positive bias. With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 1300 keeping a stop loss of Rs 1170.
  • 08:41 AM

    Angel Broking on Parag Milk Foods

    We expect PARAG to report net revenue/PAT CAGR of 13%/27% respectively over FY2018-20E. The stock currently trades at a P/E of 14.9x FY2020E EPS. It is increasingly becoming a stable brand strory while it is still valued as commodity business.

    We feel that the company should somewhere start enjoying the valuation of FMCG companies. We initiate coverage on the stock with a BUY recommendation and Target Price of `333 (20x FY2020E EPS), an upside of 34% from the current levels.

  • 08:40 AM

    Nifty outlook for the day
    Nifty has maintained the positive momentum for the 8th consecutive days and the daily trend has been up for the past 14 days. The barrier of 10,470 has already been conquered and now waiting to test for the level of 10,560 and thereafter 10,630 where the major hurdles are anticipated. Once this has been achieved, Nifty can see fresh upward movements with a positive bias. However, the support for the day is seen at 10,480 while the resistance would be at 10,580 levels.
  • 08:40 AM

    MARKET COMMENT Amar Ambani, head of research, IIFL

    Dark clouds, silver linings and another normal monsoon. The Meteorological Department’s prediction of another normal monsoon this year could boost agri-related stocks including autos. The World Bank projects India to grow at 7.3 pc in FY19, while rising to 7.5 pc in the next two years. Benchmark indices gained for another session on Monday, despite weak global cues. Buying was seen in FMCG, auto and pharma counters.

    The rupee closed at a six-month low against the dollar. US markets edged higher as investors focused on earnings. Wholesale inflation fell to an eight-month low of 2.47% in March. Earlier worries about any adverse reaction after missile attacks on Syria’s chemical base by US and its allies seem to have eased.  Asian shares are in the green. The outlook is a positive start

  • 08:38 AM

    Markets on Monday

    S&P BSE Sensex 34,305.43 Up 0.33%
    Nifty 50 10,528.35 Up 0.46%
    S&P BSE 200 4,627.69 Up 0.50%
    Nifty 500 9,311.30 Up 0.47%
    S&P BSE Mid-Cap 16,734.31 Up 0.34%
    S&P BSE Small-Cap 18,082.25 Up 0.56%
  • 08:37 AM

    SGX Nifty

    The SGX Nifty was at 10,541.50, down 0.05% from the previous close.

  • 08:36 AM

    Asian Markets

    Asia stocks edged higher on Tuesday, tracking Wall Street gains as the focus shifted to corporate earnings and looming economic data from China amid signs Western-led strikes on Syria weren’t likely to escalate.
    MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.22 per cent. Japan’s Nikkei climbed 0.2 per cent and South Korea’s KOSPI gained 0.2 per cent.
  • 08:35 AM

    Wall Street

    US stocks closed higher on Monday, with the biggest boosts from technology and healthcare sectors as investors were optimistic about earnings season and appeared less worried about US-led missile attacks in Syria.
    The Dow Jones Industrial Average rose 212.9 points, or 0.87 per cent, to 24,573.04, the S&P 500 gained 21.54 points, or 0.81 per cent, to 2,677.84 and the Nasdaq Composite added 49.64 points, or 0.7 per cent, to 7,156.29.
  • 08:34 AM

    Good Morning!

    Welcome to Business Standard’s live blog on markets.


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