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Traders’ Diary: Nifty may consolidate a bit

Buoyed by gains in TCS and Tata Motors, benchmark indices Sensex and Nifty ended higher on Monday in line with global peers.

Key Highlights

  • CLOSING BELL: Sensex advances 139 points, Nifty ends at 11,690; PCJ soars 14%, SpiceJet 9%

  • Expect near normal monsoon in 2019: Met Department

  • NJ Wealth likely to foray into AMC business

  • Tata Motors' JLR cuts 5000 jobs: Reports

1 New Update Click here for latest updates
07:15 PM

Evening Podcast: Is this stock rally here to stay?

Evening Podcast: Is this stock rally here to stay?
06:56 PM

For the past 10-12 sessions, Nifty has consolidated within 11,750-11,550 zone, representing short-term sideways trend, a breakout on either side will dictate further direction

- Rajesh Palviya, Axis Securities
06:55 PM

The underlying short-term trend continues to be positive with lacklustre movement. The next intraday resistance to be watched is at 11,710

- Nagaraj Shetti, HDFC Securities
06:53 PM

On the way up, Nifty crossed a falling trendline on the hourly chart. However, it stumbled near the swing high of 11,710 as well as near the 78.6 per cent retracement of the recent fall. The index posted a negative close last week after seven weeks of positive gains. This means that the rally has topped out at the recent high of 11,761, which would act as a major hurdle going ahead

- Gaurav Ratnaparkhi, Sharekhan
06:08 PM

FII-DII Data

FIIs net Buy Rs 713.22 cr & DIIs net Buy Rs 581.36 cr in equities today (provisional)
05:36 PM

Nifty has been consolidating between 11,550 to 11,760 levels from last 12 sessions and now requires to hold and sustain above the same to retest its lifetime high of 11,761 and then 11,888 levels while on the downside crucial support is intact at 11,550 level

- Chandan Taparia, Technical & Derivative Analyst, MOFSL
04:44 PM

Market opened on a cheery note along with majority of the indices, which were trading in the green. Broader markets also continued to show strength, as advances superseded declines. Nifty PSU banks was the weakest index followed by Nifty media. TCS faces strong resistance at Rs 2,200 level and with the Nifty IT making a triple top, it seems that the prices are not going to rise in a hurry. Hence traders must wait for a decent correction before placing bets on IT stocks

- Umesh Mehta, Head of Research, Samco Securities
04:42 PM

We feel the market is not in a hurry, and Nifty would spend some more time here before any major directional move. We advise focussing on the earnings announcements and global markets for cues. Also, we prefer hedged positions instead of outrights

- Jayant Manglik, President - Retail Distribution, Religare Broking
04:40 PM

Market traded on a positive note as expectation of US-China trade agreement and a likely turnaround in domestic earnings steered the sentiment. IT index outperformed due to weak rupee and optimism in earnings growth. WPI inflation inched to 3.18% in March due to rise in food prices while IMD’s forecast of near normal monsoon may ease the concern over inflation

- Vinod Nair, Head of Research, Geojit Financial Services
03:34 PM

CLOSING BELL: Sensex advances 139 points, Nifty ends at 11,690; PCJ soars 14%, SpiceJet 9%

CLOSING BELL: Sensex advances 139 points, Nifty ends at 11,690; PCJ soars 14%, SpiceJet 9%
03:16 PM

Expect near normal monsoon in 2019: Met Department

Don't expect much impact from El-Nino
Expect near normal monsoon in 2019: Met Department
03:10 PMShare

Network18 reports Q4 loss of Rs 76 crore

New Delhi: Media firm Network18 Media and Investments Monday reported a consolidated net loss of Rs 75.57 crore in the fourth quarter ended March 31, 2019. The company had reported a net loss of Rs 39.32 crore in the corresponding period a year ago. The media and entertainment firm's revenue from operation in the quarter under review stood at Rs 1,230.93 crore. It was Rs 824.89 crore in the last quarter of fiscal 2017-18.
02:55 PMShare

The Big Bull is falling out of love with Titan

Ace investor Rakesh Jhunjhunwala continued to reduce his holding in watch and jewellery retailer Titan Company for the second straight quarter.

Regulatory filing on Monday showed Jhunjhunwala’s stake in the company has fallen to 5.72 per cent, or 5,07,75,645 shares at the end of March, from 5.78 per cent, or 5,13,25,645 shares, at the end of December quarter.

However, shareholding in the name of Rekha Rakesh Jhunjhunwala increased marginally at 1.32 per cent as of March 31 from 1.30 per cent at the end of the previous quarter.
The Big Bull is falling out of love with Titan
02:53 PM

Top index contributors

Top index contributors
02:52 PM

NJ Wealth likely to foray into AMC business

India’s largest mutual fund distributor NJ Wealth Advisers is likely to foray into AMC business. An ET NOW report said the group applied for the AMC license with markets regulator Sebi last week to enter into the mutual fund business.
02:33 PMShare

Base metals: Copper, nickel fall on subdued demand, lead rallies

New Delhi Copper futures traded lower by 0.48 per cent at Rs 448.90 per kg Monday as speculators offloaded their bets to book profits. Besides, subdued demand at the domestic spot market further pushed down metal prices here.
02:15 PMShare

European shares subdued; US-China trade talks in focus

European shares were steady in early trade on Monday, as hopes that Sino-U.S. trade talks could be nearing their final stages and strong Chinese economic data eased worries over the global economy, but domestic trade tensions kept a lid on advances.
01:16 PMShare

RVNL shares jump 15%


Shares of Rail Vikas Nigam (RVNL) surged as much as 15 per cent in Monday's session.

The company is engaged in building railway projects, including setting up and doubling of new lines, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges and institution buildings.

Of them, activities such as laying of new lines and provisioning additional lines along existing tracks together bring in 75 per cent of the company’s revenues.
01:14 PM

Tata Motors' JLR cuts 5000 jobs: Reports

Tata Motors' JLR cuts 5000 jobs: Reports
01:10 PM

Top 10 NSE losers

12:35 PM

Infosys sheds Rs 15,000 crore in m-cap today

Infosys sheds Rs 15,000 crore in m-cap today
12:22 PM

Just In: WPI inflation

11:34 AMShare

Maruti, M&M among 10 stocks that can offer solid returns in 3 weeks

Analysts are of the view that one should follow a stock-specific approach in such a market. Based on some analysts' recommendations, below are 10 stocks that can give solid returns in coming 2-3 weeks.
Maruti, M&M among 10 stocks that can offer solid returns in 3 weeks
11:12 AM

Top 10 NSE gainers

10:38 AMShare

Wockhardt shares climb 2% after USFDA makes nil observation

Shares of pharmaceutical firm Wockhardt climbed over 2 per cent in early trade on Monday.

Shares of the company got tractions after it said that the USFDA's inspection of its Bioequivalence centre in Aurangabad, Maharashtra yielded no observations.

In a regulatory filing, the company said no observations were made after the US drug regulator inspected its Bioequivalence centre during which Bioequivalence studies of Tamsulosin 0.4mg capsules and Metoprolol Tartrate 200mg ER tablets were audited.
10:16 AM

This election is likely to give us a relatively stable government. And as long as we have political stability, I believe that we will see the start of a new bull run. It is difficult at this point of time to predict where the stocks, bonds, rupee etc. would go. But I remain positive and bullish on the fact that postelection, we will see a new rally particularly in the mid-caps. The market is super-intelligent and is generally accurate on its assessments. It is clearly evident that the market is already predicting a stable government under a strong leadership.

- Ashok Wadhwa, Ambit
10:13 AM

Infosys falls 5% post Q4 earnings; brokerages cut target price

Infosys shares declined nearly 5 per cent in early trade on Monday. The IT major on Friday reported a 10.51 per cent year-on-year (YoY) rise in consolidated profit at Rs 4,078 crore for March quarter, beating Rs 3,957 crore net estimated by analysts in an ET NOW poll. After the company revelaed its fourth-quarter numbers and guidance for FY20, most brokerages cut their target prices on the stock by as much as 17 per cent, while some downgraded it.
10:03 AMShare

Metropolis Healthcare lists at 9% premium over issue price

Metropolis Healthcare on Monday made a decent market debut, as the scrip got listed at Rs 960 on BSE, a 9.09 per cent premium over issue price of Rs 880 per share.

The Rs 1,204 crore IPO, which was sold between April 3 to April 5, was subscribed 5.83 times.

At the issue price, the stock was valued at of 39 times FY19 annualised earnings against Dr Lal Pathlabs’ 43 times.

Metropolis’ laboratory network consists of 115 clinical laboratories, comprising a global reference laboratory located in Mumbai, 14 regional reference laboratories 56 satellite laboratories and 44 express laboratories.
Metropolis Healthcare lists at 9% premium over issue price
09:28 AM

ETMarkets Morning Podcast: Let's talk business & markets

ETMarkets Morning Podcast: Let's talk business & markets
09:26 AM

Suzlon, PCJ, Infy among most active stocks on NSE

09:17 AM

OPENING BELL: Sensex gains 70 pts, Nifty above 11,650; Infy drops 5%, TCS jumps 3%

OPENING BELL: Sensex gains 70 pts, Nifty above 11,650; Infy drops 5%, TCS jumps 3%
09:01 AM

Pre-open session: Sensex gains 150 points, Nifty above 11,700

Sensex gains 150 points, Nifty above 11,700; rupee trades at 69.09 against dollar.
08:34 AM

Singapore trading sets stage for tepid start

Nifty futures on the Singapore Exchange were trading 12 points, or 0.10 per cent, lower at 11,679.50, indicating a negative start for the Nifty50.
08:34 AM

Tech view: Nifty forms Hammer-like candle

On a weekly basis, the index formed a Hammer-like pattern. This formation, following an indecisive Doji in the previous week, suggested a loss of momentum. The index has been finding support from its 20-day moving average, whose value is placed at around 11,560 level. This made analysts believe the 11,580-550 range should act as support to the BSE barometer next week.
08:34 AM

Asian shares on a firm footing

Asian shares on a firm footing Asian shares started on a firm footing on Monday and the dollar eased as risk appetite was whetted by better-than-expected data from China that helped boost confidence. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.1 per cent with South Korea's KOSPI up 0.5 per cent. Japan's Nikkei jumped 1.3 per cent to the highest since early December.
08:34 AM

Russia, OPEC may ditch deal to maintain market share

Russia and OPEC may decide to boost production to fight for market share with the United States, but this would push oil prices as low as $40 per barrel, TASS news agency сited Russia's Finance Minister Anton Siluanov as saying on Saturday.
08:33 AM

Oil prices edge lower

Oil prices edged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session but concerns over global supplies provided a floor to losses. Brent crude oil futures were at $71.40 a barrel at 0015 GMT, down 15 cents, or 0.2 percent, from their last close.
08:33 AM

US stocks near record highs

On Friday, the Dow Jones Industrial Average rose 269.22 points, or 1.03 per cent, to 26,412.27, the S&P500 index gained 19.12 points, or 0.66 per cent, to 2,907.44 and the Nasdaq Composite added 36.81 points, or 0.46 per cent, to 7,984.16. Stocks closed near record highs after JPMorgan Chase soothed worries that the first-quarter earnings season would curb Wall Street's big rally back from last year's slump.
08:33 AM

TCS likely to open higher today, Infy may correct on Q4 numbers

MUMBAI: Tata Consultancy Services shares are expected to open strong on Monday on better-than-expected fourth quarter earnings. Rival Infosys, which guided for lower profits in FY20, could drop, mirroring the 4 per cent fall in its American Depository Receipts (ADRs) on Friday.
08:33 AM

Metropolis Healthcare to make BSE debut

Metropolis Healthcare, whose IPO ran from April 3 to April 5, will make market debut on Monday. The issue was subscribed subscribed 5.83 times The Rs 1,200-crore IPO had received bids for 4.47 crore shares as against 76.61 lakh shares on offer.
08:33 AM

FPIs buy Rs 897 crore worth of equities

Foreign portfolio investors (FPIs) bought Rs 897.45 crore worth of domestic stocks on Friday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 15.99 crore, data suggested.
08:32 AM

Sensex last week

On Friday, Sensex rose 160 points, or 0.41 per cent, to 38,767. A total of 17 constituents rose and 13 declined. NSE's Nifty settled at 11,643, up 47 points, or 0.40 per cent. However, both Sensex and Nifty snapped their biggest weekly winning streak in a year, with a decline of 0.24 per cent and 0.19 per cent, respectively.
08:29 AM

Good Morning, dear reader! Here's something to kickstart your trading day

Good Morning, dear reader! Here's something to kickstart your trading day

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