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Apr 03, 2019 03:38 PM IST | Source: Moneycontrol.com

Closing Bell: Indices revert gains in late trade as Nifty ends below 11,650; BPCL down 4%

The Sensex was down 179.53 points at 38877.12, while Nifty was down 69.20 points at 11,644.

  • Apr 03, 03:34 PM (IST)

    Market Close: Benchmark indices ended near day's low after Skymet predicts below normal monsoon due to developing El Nino.

    Sensex and Nifty touched record high in the early trade today.

    At close, the Sensex was down 179.53 points at 38877.12, while Nifty was down 69.20 points at 11,644. About 998 shares have advanced, 1574 shares declined, and 157 shares are unchanged 

    BPCL, Zee Entertainment, IOC, SBI and GAIL were the top losers on the Nifty, while gainers were Indiabulls Housing, Maruti Suzuki, Bajaj Finserv, HCL Tech and JSW Steel.

    All the sectoral indices ended in red led by PSU bank (down 2.5 percent) followed by pharma, infra, energy, IT, metal, auto and FMCG.

  • Apr 03, 03:22 PM (IST)

    Shares of oil marketing companies slipped 2-4 percent on April 3 as Brent crude oil price inching towards USD 70 per barrel mark.

  • Apr 03, 03:15 PM (IST)

    Sahaj Agrawal, Kotak Securities:

    After a strong rally seen in the recent past Nifty currently is in consolidation phase. Tech parameters suggest possibility of extended consolidation before the up move resumes. We continue to believe the bias remains positive and suggest buying on dips. 

    Meaningful support on the downside is seen at 11,200-11,300; expect volatility to remain high in the near term. On the higher side we would expect 12,300-12,500 on Nifty. Banking is expected to witness some profit booking while metals and select auto stocks trade with a positive bias.

  • Apr 03, 02:51 PM (IST)

  • Apr 03, 02:43 PM (IST)

    National Fertilizers has made ever best fertilizer sale of 48.92 lakh MT in the financial year 2018-19. It include urea sale of 42.68 lakh MT. There has also been a quantum jump in the sale of other fertilizers including DAP and NPKS, which stands at 5.97 lakh MT (3.93 lakh MT- previous year).

  • Apr 03, 02:21 PM (IST)

    Market Update: There is a sharp decline on the Dalal Street with Nifty trading around 11,700 level.

    At 14:20 hrs IST, the Sensex is up 31.53 points at 39,088.18, while Nifty is down 5.50 points at 11,707.70. About 1017 shares have advanced, 1366 shares declined, and 152 shares are unchanged. 

  • Apr 03, 02:16 PM (IST)

    Cadila Health gets 1 observation from USFDA: USFDA inspected the company‘s formulations manufacturing facility located at Pharmez, Ahmedabad from March 25 to April 2, 2019. The inspection which included product specific pre-approval and post-approval inspections and a GMP Inspection, concluded with one observation.

  • Apr 03, 02:05 PM (IST)

    Source: Bloomberg

     Source: Bloomberg
  • Apr 03, 01:55 PM (IST)

    Gautam Duggad, Head of Institutional research, Motilal Oswal Financial Services

    India markets have rallied led by dovish global central bank sentiments. That coupled with consistent FII flows and expectations of current political dispensation making a comeback post elections is driving the markets higher. However, valuations now look fair and one needs to be stock specific and selective from hereon. We prefer banks, discretionary consumption plays and select Industrials.

  • Apr 03, 01:44 PM (IST)

    Skymet monsoon forcast: June-September monsoon seen below normal. July Monsoon could be critical.

  • Apr 03, 01:33 PM (IST)

  • Apr 03, 01:18 PM (IST)

    CARE has downgraded the credit ratings of Suzlon Energy. 

     CARE has downgraded the credit ratings of Suzlon Energy. 
  • Apr 03, 01:03 PM (IST)

    Motilal Oswal has downgraded Reliance Industries to neutral due to a limited upside in the stock. It has set Rs 1,457 as the target. The brokerage said it sees a weakness in refining and petrochem business ahead.  RIL's stock price has almost tripled over the last five years, outperforming the Nifty by 122 percent on a cumulative basis, driven by the strengthening refining/petrochem businesses and the significant build-up in its retail and telecom segments.

    "The stock now trades closer to our fair value. Moreover, we expect the core business to face headwinds in 2019. While telecom and retail remain in a significant build-up mode, we have already factored this in our estimates. As there is limited upside from here, we downgrade the stock from Buy to Neutral," said Motilal Oswal in a report. 

    Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

  • Apr 03, 12:42 PM (IST)

    Broad market indices at this hour

     Broad market indices at this hour
  • Apr 03, 12:34 PM (IST)

    TCS said that Ahli Brokerage Company has selected TCS BaNCS Digital to power its technology-driven business growth strategy.

    Ahli Brokerage aims to become the leading brokerage house in Qatar by leveraging digital technologies to appeal to new customer segments with innovative services, and expand its geographic footprint, TCS said in a press release. TCS BaNCS Digital will help the company digitise its trading process and cater to the need of today's self-directed and well-informed investors for the convenience of contactless transactions on the move. 

  • Apr 03, 12:17 PM (IST)

    Market Update: The benchmark indices continue to hold their gains. Sensex is up 133.05 points or 0.34 percent at 39,189.70, and the Nifty is up 24.50 points or 0.21 percent at 11,737.70. About 1,105 shares have advanced, 1,086 shares have declined, and 151 shares are unchanged.

  • Apr 03, 11:55 AM (IST)

    Nifty Bank has continued its rally and is now trading about 0.3 percent higher at 30,440. IndusInd Bank is the biggest gainer followed by Bank of Baroda.   

     Nifty Bank has continued its rally and is now trading about 0.3 percent higher at 30,440. IndusInd Bank is the biggest gainer followed by Bank of Baroda.   
  • Apr 03, 11:33 AM (IST)

    Rupee Update: The Indian rupee has gained in day's trade. The rupee is up 15 paise or 0.23 percent at 68.58/$. 

  • Apr 03, 11:28 AM (IST)

    B Gopkumar, ED & CEO, Reliance Securities: Markets have seen a pre-election rally. Nifty scaled new all-time high on back of improved optimism following sustain FIIs inflow. Stable rupee and expectation of an interest rates cut have also helped the rise in the market. 

    However, from here earnings will be a key factor as we get into the results season. Healthy corporate earnings could push the market higher, but disappointments will pose a challenge. We remain positive on markets in long-term, but one can expect some profit booking from 12,000 level and near-term volatility cannot be ruled out with respect to events like credit policy, March ended earnings performance and elections in the coming months. Meanwhile, any decline near to 11,200 levels would be a good opportunity to create a long position.

  • Apr 03, 11:14 AM (IST)

    Suprajit Engineering to BSE: CRISIL has upgraded the long term rating from CRISIL AA-/ Positive to CRISIL AA/ Stable. Short term rating of CRISIL A1+ is reaffirmed.

    Further, ICRA has reaffirmed the long term rating of ICRA AA (Stable) and short term rating of ICRA A1+.

  • Apr 03, 10:57 AM (IST)

    Lupin said that the United States Food and Drug Administration (USFDA) completed the inspection at its Lupin Bioresearch Centre (LBC) without any observations. This is the fifth successive inspection without any 483 observations, indicating superior quality compliance maintained at this global bioresearch facility. 

  • Apr 03, 10:53 AM (IST)

    Sensex heat map at this hour

     Sensex heat map at this hour
  • Apr 03, 10:18 AM (IST)

    Crude Update: Oil prices rose for a fourth day on Wednesday, with support from OPEC-led supply cuts and US sanctions overshadowing an industry report showing an unexpected rise in US inventories last week.

  • Apr 03, 10:03 AM (IST)

    Kamdhenu doubles production capacity: Kamdhenu Ltd rallied 13 percent intraday on April 3 after the company more than doubled the production capacity of its steel plant in Bhiwadi, Rajasthan.

  • Apr 03, 09:42 AM (IST)

    Buzzing: Auto ancillary and defence company Bharat Forge shares fell 1 percent after a sharp decline in Class 8 truck orders in North America.

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