Markets Live: Sensex ends over 161 points; banking stocks stole limelight
After touching over 200 points on Monday, the Sensex indices finished at 33,788.54 above 161.57 points or 0.48%. Overall there were, 17 scrips that advanced on BSE having turnover of Rs 273.37 crore, while 13 scrips declined with turnover of Rs 1038.35 crore, whereas 1 scrip remained unchanged.
On the other hand, Nifty 50 closed at 10,379.35 higher by 47.75 points or 0.46%. On the index, 26 scrips advanced, while 24 scrips declined with no scrip unchanged.
On BSE, Axis Bank and IndusInd Bank were among top gainers on BSE, trading at Rs 518.70 per piece and Rs 1864.70 per piece - rising by 3.61% and 2.24% respectively.
At around 0928 hours, the Sensex was trading at 33,744.99 higher by 114.84 points or 0.34%, while Nifty 50 surged by 45.05 points or 0.44% trading at 10,376.65.
On BSE, there were 24 scrips that advanced with total volume Rs 13.27 crore, while 7 scrip saw declines having total volume Rs 6.70 crore.
In pre-market opening, the BSE Sensex index was trading near 33,645.55 up by 18.58 points or 0.06%.
Talking on Nifty, analysts at Share India said, "With headwinds from the US China trade war still fresh, few traders were seen willing to carry long positions. Due to sharp losses in global markets, Nifty may see a tepid start on Monday. 10250 is immediate support. A violation will push the index towards 10220-10180 levels. On the higher side, 10350 remains immediate resistance while 10400 is near term target and crucial resistance."
For this week, the Indian market is expected to be guided by a range of factors macroeconomic data, onset of corporate earnings season and trade tariff tussle.
Motilal Oswal on Monday said, "On domesticfront, focus will now be shifted back to Q4earnings season which will commence fromthis week, along with that macro data such asinflation and Industrial Production numbers willset the direction for the market."
In case of Nifty, the agency said, "Nifty index opened flattish and remained range boundfor most part of trading session." It added, "Itformed a Doji Candle on the daily scale which meansfollow up buying is missing at higher levels. Now till itholds above 10276 zones, it could extend its movetowards 10440 while on the downside support are seenat 10222 then 10180 levels."
On markets today, Prabhudas Lilladher said, "The support for the week is seen at 32850/10080, while the resistance would be at 34300/10550 levels. Bank Nifty would have a range of 24080-25760."
After touching over 200 points on Monday, the Sensex indices finished at 33,788.54 above 161.57 points or 0.48%. Overall there were, 17 scrips that advanced on BSE having turnover of Rs 273.37 crore, while 13 scrips declined with turnover of Rs 1038.35 crore, whereas 1 scrip remained unchanged.
On the other hand, Nifty 50 closed at 10,379.35 higher by 47.75 points or 0.46%. On the index, 26 scrips advanced, while 24 scrips declined with no scrip unchanged.
On BSE, Axis Bank and IndusInd Bank were among top gainers on BSE, trading at Rs 518.70 per piece and Rs 1864.70 per piece - rising by 3.61% and 2.24% respectively.
At around 0928 hours, the Sensex was trading at 33,744.99 higher by 114.84 points or 0.34%, while Nifty 50 surged by 45.05 points or 0.44% trading at 10,376.65.
On BSE, there were 24 scrips that advanced with total volume Rs 13.27 crore, while 7 scrip saw declines having total volume Rs 6.70 crore.
In pre-market opening, the BSE Sensex index was trading near 33,645.55 up by 18.58 points or 0.06%.
Talking on Nifty, analysts at Share India said, "With headwinds from the US China trade war still fresh, few traders were seen willing to carry long positions. Due to sharp losses in global markets, Nifty may see a tepid start on Monday. 10250 is immediate support. A violation will push the index towards 10220-10180 levels. On the higher side, 10350 remains immediate resistance while 10400 is near term target and crucial resistance."
For this week, the Indian market is expected to be guided by a range of factors macroeconomic data, onset of corporate earnings season and trade tariff tussle.
Motilal Oswal on Monday said, "On domesticfront, focus will now be shifted back to Q4earnings season which will commence fromthis week, along with that macro data such asinflation and Industrial Production numbers willset the direction for the market."
In case of Nifty, the agency said, "Nifty index opened flattish and remained range boundfor most part of trading session." It added, "Itformed a Doji Candle on the daily scale which meansfollow up buying is missing at higher levels. Now till itholds above 10276 zones, it could extend its movetowards 10440 while on the downside support are seenat 10222 then 10180 levels."
On markets today, Prabhudas Lilladher said, "The support for the week is seen at 32850/10080, while the resistance would be at 34300/10550 levels. Bank Nifty would have a range of 24080-25760."
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PNB Q2FY23 Reults:
PNB's profit for the July-September quarter stood at Rs 411 crore from 1105 crore in the correponding quarter of the previous financial year. It was a 62 per cent YoY drop in the bank's net profit. The total income stood at Rs 23,001 crore in the reporting quarter which was up 8 per cent from Rs 21,262 crore. The share price tanked after the bank posted its Q2 results. The stock was trading at Rs 40.65 around 2:30 pm.
Banking stocks were among favorites of investors on Monday trading session, as they emerged among top gainers on both Sensex and Nifty 50.
S&P BSE Bankex was trading at 28190.60 up by 335 points or 1.20%. Almost all stocks were trading on a positive note, except Federal Bank which saw gradual decline during the day.
On Bankex, gainers were Axis Bank at Rs 519.80 per piece up 3.81%, followed by PNB at Rs 104.75 per piece up 2.70%, Bank of Baroda at Rs 153.95 per piece up 2.43%, IndusInd Bank at Rs 1864 per piece up 2.20% and ICICI Bank at Rs 282.80 per piece up 0.78%.
Other banks also gained on the index were - HDFC Bank at Rs 1936.45 per piece up 0.72%, Yes Bank at Rs 316.25 per piece up 0.65%, SBI at Rs 261.35 per piece up 0.60% and Kotak Mahindra Bank at Rs 1120.30 per piece up 0.11%.
Meanwhile, Federal Bank was trading at Rs 96.75 per piece down by 0.46%.
On the 51-scrip index, Nifty Bank jumped by 271.30 points or 1.09% trading at 25,116.20. Nifty PSU Bank was trading at 3,051.45 up by 1.06%, and that of Nifty Private Bank was trading at 14,163.95 higher by 1.05%.
The share price of Monnet Ispat & Energy touched intra-day low of Rs 22.05 per piece on Monday, after when the company announced that it is currently undergoing the insolvency resolution process under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC).
The insolvency resolution process of the Company began on 18th July, 2017. In the instant case, Sum it Binani is appointed as the Resolution Professional (RP) and the Committee of Creditors (CoC) comprises of 391enders of the Company.
Reliance Infrastructure Limited has received purchase order of Rs 1,081 crore from Nuclear Power Corporation of India Limited (NPCIL) for the prestigious engineering, procurement and construction (EPC) contract for Common Services System, Structure & Components (SSC) package and allied civil works of Unit -3 and 4 of Kudankulam Nuclear Power Project at Tirunelveli District in Tamil Nadu.
After touching intra-day high of Rs 452.25 per piece on Monday, the share price of the company was trading on a positive note at Rs 450.15 per piece up 0.54% on BSE. The stock has managed to gain by 1% so far in the day.
Investors lost faith in ICICI Bank share price, as the company was trading on a negative note on Monday session. Such selling pressure was an outcome of bleak future Chanda Kochhar the CEO and MD of the bank. Since the start of early trade, the bank's share price has plunged more than 2% on BSE.
Many reports are saying that, the ICICI Bank board has divided in two over CEO's recent controversies.
Controversy that erupted is over the CEO & MD of largest private-lender ICICI Bank having made personal gains in regards to loan given to Videocon in which her husband Deepak Kochhar's name has cropped up. Earlier, the top management of ICICI Bank tried to protect dignity of Chanda Kochhar and showed faith in her work.
However, now some outside directors are opposed to Kochhar continuing in her role.
After touching intra-day low of Rs 274.70 per piece, the share price of ICICI Bank on BSE was trading at around Rs 279.35 per piece down Rs 1.25 or 0.45% at around 1257 hours.
The Indian rupee strengthened against US benchmark dollar index on Monday forex market, however, it needs to be noted that the currency was trading below 65-mark for fifth consecutive day. In earlu trade, the rupee strengthened by 12 paise to 64.85 against the US dollar on fresh selling of the greenback by banks and exporters.
At around 1122 hours, Indian Rupee was mostly subdued in comparison with previous prices, as it traded at 64.935-mark up by 0.015 points or 0.02%
Read More: Indian rupee Vs dollar today: Rupee strengthens on uptick in Sensex, Nifty
The share price of state-owned Hindustan Petroleum Corporation Limited surged more than 4% on Monday, after many reports mentioned that the company has received green signal for setting up Rs 136 crore LPG plant in Bihar.
The stock exchanges have asked for clarification from HPCL in regards to the matter.
The reply is awaited from the end of HPCL.
However, this did not stop investors from boosting the HPCL stock price, as at around 1156 hours, they were trading at Rs 367.80 per piece above Rs 13.80 or 3.90%.
All you need to know about profitable trading for April 09, 2018.
More than one hour has passed on Monday's trading session, and the uptrend in Sensex continues with the benchmark trading at 33,763.38 above 136.41 points or 0.41%, while the Nifty 50 surged by 41.85 points or 0.41% trading at 10,373.45.
Gainers list on Sensex was topped by Asian Paints at Rs 1166.75 per piece up 2.01%, followed by Yes bank at Rs 319.50 per piece up 1.69%, IndusInd Bank at Rs 1850.95 per piece up 1.49%, Kotak Mahindra Bank at Rs 1135.20 per piece up 1.44%, HDFC Bank at Rs 1939.90 per piece up 0.89% and Larsen & Toubro at Rs 1322.05 per piece up 0.84%.
Know from experts for market outlook on Monday trading session.
20 best calls for Intra-day trading today
In pre-market opening, the BSE Sensex index was trading at 33,645.55 up by 18.58 points or 0.06%.
Asian shares edged higher on Monday as a bounce in U.S. stock futures soothed sentiment even as U.S. President Donald Trump kept up his twitter war with China over trade just a couple of days before President Xi Jinping gives a keynote speech.
There was also little immediate reaction to reports U.S. forces had struck at sites in Syria, presumably in retaliation for an alleged chemical attack on civilians there.
For now, investors in Asia were encouraged that E-Mini futures for the S&P 500 were still up 0.4 percent, while NASDAQ futures rose 0.6 percent.
MSCI`s broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent. Japan`s Nikkei wavered either side of flat, and South Korea edged ahead by 0.2 percent.