Market Opens :
Sensex opens at record high, Nifty around 11,750; Marico gains 2%
It is firm start for the benchmark indices on Wednesday with Sensex opened at record high.
At 09:16 hrs IST, the Sensex is up 119.33 points at 39175.98, while Nifty up 31.90 points at 11745.10. About 451 shares have advanced, 174 shares declined, and 41 shares are unchanged.
Yes Bank, Tata Steel, Indiabulls Housing, Vedanta, JSW Steel, IndusInd Bank, Hindalco, Bajaj Finance are some of the major gainers on the indices, while lower are Eicher Motors, Infosys, Wipro, HCL tech, Britannia and Coal India.
Among the sectors, except IT all other indices are trading in green led by bank, metal, infra, pharma and energy.
Rupee opens :
Rupee opens marginally higher at 68.72 per dollar.
Rupee rose against the US dollar primarily as foreign fund inflow continued in April after huge inflows in the previous month. Last month, the FIIs added USD 6.6 billion in the equity and debt segment and yesterday in a day added another USD 2.1 billion.
The equity segment added USD 1.3 billion and debt segment added USD 723 million. Consistent inflows suggest that FIIs remain bullish on the Indian growth story. Momentum of flows in the recent past has been positive also as market participants are expecting that the RBI could consider cutting rates tomorrow.
The central bank is expected to remain dovish and that could restrict major appreciation for the currency. Today, USD-INR pair is expected to quote in the range of 68.80 and 69.40, it added.
Today, USD-INR pair is expected to quote in the range of 68.80 and 69.40
Global Markets :
SGX Nifty :
A positive opening is likely as Nifty Futures on Singaporean Exchange were trading over 8.5 points higher. The futures traded around 11,795-odd levels.
Trends on SGX Nifty indicate a flat to positive start for the broader indices in India, a gain of 13 points or 0.11 percent. Nifty futures were trading around 11,800-level on the Singaporean Exchange.
Asian Market :
Asian shares hovered near seven-month highs early on Wednesday as global investors paused for breath after the strong rally seen earlier this week, while oil approached the key USD 70 per barrel mark.
US Markets :
The benchmark S&P 500 stock index paused on Tuesday, taking a breather from Monday’s strong quarterly kickoff as a decline in shares of Walgreens Boots Alliance Inc weighed and economic data did little to ease growth concerns.
Gold Update:
Gold prices slipped on Wednesday, after touching their lowest level in four weeks in the previous session, as equities traded near a seven-month high, denting bullion's appeal.
Domestic Markets :
Technical View:
Nifty formed a Doji kind of pattern for the second day in a row
The index registered a Doji kind of indecisive formation on the back of negative advance-decline ratio which is a cause for concern going forward
Weakness shall get materialised once bears manage to pull down the Nifty below last Monday's gap zone of 11,644–11,630 levels on closing basis, suggest experts.
Three levels: 11655, 11729, 11760
Max Call OI: 12000, 11800
Max Put OI: 11700, 11500
Here are stocks that are in the news today:
IPO: Metropolis Healthcare opens for subscription on April 3. It is an offer for sale by promoters, which will close on April 5. The price band for the IPO has been fixed in the range of Rs 877-880 per equity share.
Marico: Company sees improved operating margin in Q4 on easing costs, and sees stable demand in Q4 and healthy growth in offtake.
Indraprastha Gas gets authorization for development of CGD network
Jet Airways: Company makes new roster for Boeing 737 pilots from April 11-26 - CNBC-TV18 Sources. Jet Airways now has a little over 30 aircraft in its fleet, down from 119 planes. More aircraft were grounded after default on payments to lessors.
Infosys: Subsidiary gets order from Kuwait’s Ahli United Bank for automation services. Jet Airways has offered a six-month sabbatical to its pilots.
Surana Telecom and Power: Company divested the 100 percent of equity stake held in Globecom Infotech Private Limited, wholly owned subsidiary.
DB Realty: In respect of creation of pledge on 77.5 lakh equity shares of DB Realty which were pledged by one of the promoters with Anand Rathi Global Financial Ltd. (lender) in connection with financial facility of Rs 6.00 crore given by the said lender to LLP.
SREI Infra to raise up to Rs 1,500 crore via issue of NCDs
TCS BaNCS for Core Banking has been successfully deployed at Harbin Bank, a full-service commercial bank in China
Wipro completes divestment of Wipro's Workday and Cornerstone Ondemand business
Board to consider Q4 results on April15-16 and recommendation of final dividend
HUDCO achieved loan sanctions of Rs 34,453.8 crore and loan releases of Rs 31,008.6 crore for the financial year 2018-19.
Biocon to sell and transfer drug substance business for Rs 33.3 crore
Mahindra Lifespaces' CFO Jayant Manmadkar resigns
Rushil Decor - GPCB allow comapny to operate Laminate sheet manufacturing unit at Gandhinagar upto July 01, 2019 as per conditions stipulated therein
Forbes & Company: Company handed over 50 percent of the business undertaking in project Vicinia to Paikar Real Estates Private Limited towards completion of the transaction.
Mastek: Company appointed Dennis Badman as chief business officer of Mastek Group.
Lumax Auto Technologies closed its PCB manufacturing unit in Haryana from April 1
HEG board approved proposal to increase the stake of HEG in Bhilwara Energy from 29.48% to 49%
Karnataka Bank: Bank ties up with Bharti Axa Life Insurance company for life insurance business.
Magadh Sugar & Energy: CARE revised company's rating on long term bank facilities to BBB+:Stable, from A-:Negative.
Geetanjali Credit and Capital: Paresh G Patel, Managing Director of the company resigned.
Goa Carbon: Dara P Mehta resigned as Non- Executive Independent Director of the company.
Arvind Fashion's CFO Kannan Soundararajan resigns w.e.f. April 2
Virtual Global Education: Kamal Poddar Kishor has resigned from the post of the Chief Financial Officer of the company.
Kamdhenu: Company installed all requisite machinery for increase of capacity of its steel plant at Bhiwadi, Rajasthan from 72,000 MT to 1,56,000 MT per annum.
JK Tyre - India Ratings revises long term rating revised from IND A+ to IND A
Mcleod Russel - ICRA revised long term rating from ICRA AA- to ICRA A
Essel Propack received an amount of Rs 30.7 crore towards repayment of outstanding dues of Inter corporate deposit.
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