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Indian markets surged over 1 percent on Thursday with Nifty closing above 11,550 levels on March F&O expiry, bolstered by financial, IT and realty stocks. Indiabulls Housing Finance, Zee, HCL Tech, Adani Ports, and UPL were the top gainers on the Nifty50, gaining up to 9 percent. while ONGC, Hindalco, Tata Steel, Dr Reddy's, and PowerGrid fell the most on the index.

Mar 28, 2019

15:34

Closing Bell: Nifty ends March F&O expiry above 11,550; Nifty Bank at record high

Indian markets surged over 1 percent on Thursday with Nifty closing above 11,550 levels on March F&O expiry, bolstered by financial, IT and realty stocks. The expectation of Reserve Bank of India’s in its monetary policy decision scheduled next week, to slash interest rates to boost spending and the hopes of the current government returning to power also kept the sentiments lifted.

The S&P BSE Sensex settled at 38,545, up 412 points, while the broader NSE Nifty50 ended at 11,570, adding 125 points. Meanwhile, broader markets were in-line with frontline indices with the Nifty MidCap rising 1.2 percent and the Nifty Smallcap advancing 1 percent. Indiabulls Housing Finance, Zee, HCL Tech, Adani Ports, and UPL were the top gainers on the Nifty50, gaining up to 8 percent. while ONGC, Hindalco, Tata Steel, Dr Reddy's, and PowerGrid fell the most on the index.

Nifty Bank ended at record high for the second straight session, up 1.3 percent, with Bank of Baroda gaining over 6 percent and State Bank of India rising 3.4 percent. Among IT stocks, HCL Technologies was the top gainer on the index, advancing 4 percent. TCS rose 2 percent while Infosys gained 1.5 percent. The Index was up 1.7 percent.

Mar 28, 2019

09:21

Opening Bell: Sensex, Nifty open higher ahead of March F&O expiry; IT stocks gain

Benchmark indices opened higher on Thursday with Nifty holding 11,450 led by gains in IT ans realty stocks ahead of March F&O expiry. Asian peers, however, were trading in red as recession concerns sent bond yields spiraling lower across the globe.

At 9:20 am, the S&P BSE Sensex was trading at 38,251, up 118 points, while the broader NSE Nifty50 was ruling at 11,467, adding 22 points. Meanwhile, broader markets were in-line with frontline indices with the Nifty MidCap rising 0.3 percent and the Nifty Smallcap advancing 0.4 percent.

HCL Tech, Zee, Indiabulls Housing Finance, Vedanta, and Ultratech Cements were the top gainers on the Nifty50, while Tata Motors, JSW Steel, IndusInd Bank, Dr Reddy's, and HDFC fell the most on the index.

Among sectors, Nifty IT gained nearly 1 percent led by gains in HCL Tech, Tech Mahindra, TCS and Infosys, up in the range of 0.8-2.5 percent. Nifty MEdia, Nifty Realty, and Nifty PSU Banks were other sectoral gainers

Mar 28, 2019

09:11

Top brokerage calls for Thursday: HSBC bearish on Lupin, Emkay cuts M&M target price

Emkay on M&M

- Channel checks indicate XUV3OO is well accepted and boasts a healthy waiting period

- Marazzo MPV’s volumes are also expected to improve slowly

- Dealers expect double-digit growth in FY20 for the automotive division

- Gasoline utility vehicles are likely to limit volume impact due to BS-VI transition

- Reduce FY20 and FY21 earnings per share estimate by 2 percent and 5 percent to Rs 45.60 and Rs 45.30, respectively

- Maintain buy rating, target cut to Rs 800 from Rs 860 per share

HSBC on Lupin

- Maintain reduce, target cut to Rs 690 from Rs 740 per share

- Execution critical to realise benefits of Etanercept in Japan

- Watch for operational stability and execution of critical launches

- FY19-21 earnings per share estimates cut by 2-5 percent

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Closing Bell: Nifty ends March F&O expiry 1% higher, Sensex surges 412 points; Indiabulls Housing up 9%

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