Indian stock market ended on strong note on Friday, snapping previous two session losses, on the back of broad-based buying as well as firm global cues. The BSE Sensex surged 568 points or 1.17 per cent to close at 49,008.50, and the NSE Nifty ended at 14,507, up 182.4 points or 1.27 per cent. In line with benchmark indices, broader market also settled higher, with Midcap and Smallcap surging 1.79 per cent and 1.1 per cent, respectively. All the 19 sectoral indices ended trading in green, with metal and consumer durable stocks leading the rally, surging 3.4 per cent and 3.03 per cent, respectively. Out of 30 stocks on BSE Sensex pack, only ONGC, TCS, Powergrid, IndusInd Bank ended in red, while remaining 26 shares ended in green. Bajaj Finserv, Asian Paints, HUL, Titan Company, HDFC, Bajaj Auto, Bharti Airtel, Nestle India, Tech Mahindra, Reliance Industries, Maruti, HDFC Bank were among top gainers.
"Equity market has been consolidating under fear of losing its traction of economic growth recovery. Positive US job data and climb in fourth-quarter US GDP to 4.3 per cent helped to reduce the gravity of the contraction. On the domestic front, high-frequency data suggests good economic activity in Q4FY21 and results will be announced from April. The second wave of Covid and high valuation will maintain volatility in the near term," says Vinod Nair, Head of Research at Geojit Financial Services.
On the global front, Asian market ended on mixed note, with China's Shanghai Composite ending higher, while Hong Kong's Hang Seng closed lower. The Shanghai Composite gained 1.14%, while the Hang Seng dropped 0.27 per cent.
On Thursday, Indian benchmark indices lower for the second straight session amid board-based selling as futures and options (F&O) monthly contracts expire today. The S&P BSE Sensex ended 740 points or 1.51 per cent lower at 48,440, and NSE Nifty 50 index fell 224.5 points or 1.54 per cent to settle at 14,324. The broader markets also witnessed bloodbath, with midcap and smallcap indices declining 2.19 per cent and 1.81 per cent, respectively. All sectoral indices ended in red, with auto and oil and gas stocks emerging as top losers, falling 2.7 per cent, each. Out of 30 stocks on BSE Sensex pack, only Dr. Reddy, HDFC, ICICI Bank and L&T ended in green, while remaining 26 shares ended lower. Maruti Suzuki, Bharti Airtel, Reliance Industries, HUL, Bajaj Finance, ONGC, NTPC, Ultratech Cement were among the top laggards. Positive cues from global markets failed to cheered market as spike in COVID cases and worries over lockdowns in several cities dampened investor sentiment. On the global front, Asian markets ended mostly higher while European markets too opened on a positive note.
Check highlights of Sensex and Nifty trading today:
3:00 pm: Expert views on Real Estate Sector
Jayesh Rajpurohit, CEO & Co-founder, Brick&Bolt says, "The real estate market size is expected to be $640 billion by 2025. Technology has and will continue to act as a propellant for growth of the sector. Given the backdrop of being sticky with regards to technology, the pandemic clearly worked as a catalyst to push both the real estate and construction sector towards tech adoption. With digitisation and introduction of cloud based solutions, the problem of process gaps and information analysis has reduced drastically. In 2021, we believe more players will continue to leverage tech to create efficiencies, increase profits and reduce overrun costs".
2:40 pm: Bajaj Finserv leads gain on BSE
The top gainers of the BSE Sensex pack were Bajaj Finserv, up 4.79 per cent at Rs 9,493.55, followed by Asian Paints Ltd. (Rs. 2498.75,+4.03%), Hindustan Unilever Ltd. (Rs. 2318.20,+3.60%), Titan Company Ltd. (Rs. 1500.85,+3.47%), Housing Development Finance Corporation Ltd. (Rs. 2544.65,+2.92%), among others.
2:30 pm: Metal, Consumer Durable top performing sectors
All the 19 sectoral indices were trading in green, with metal and consumer durable stocks leading the rally, surging 3.83 per cent and 2.33 per cent, respectively.
2:20 pm: Technical view from Ravi Singhal, Vice Chairman, GCL Securities Limited
"In recently observed trends, the highest traction in option writing was seen at 14,500 mark, for both Call and Put. Owing to this, the market is expected to remain in the range of 14,377 to 14,644. Therefore, you must Buy on dips near 14,400 mark and Sell on rise upto 14,622 mark."
2:00 pm: Nazara Tech IPO's gray market premium surges
Rakesh Jhunjhunwala-backed Nazara Technologies shares will make stock market debut on March 30, 2021. India-based sports media platform will be the first gaming company to be listed on the stock exchanges. Ahead of listing, the shares of Jhunjhunwala-backed gaming company were trading at strong premium in grey market, indicating a strong listing at domestic bourses. The stock was quoting at Rs 1,791 per share in the grey market, implying a grey market premium of Rs 690 or 62.67 per cent against the issue price of Rs 1,101.
1:30 pm: Ashok Leyland share up 5%
Shares of Ashok Leyland were trading 4.6 per cent higher at Rs 114.85 apiece on the BSE on Friday. A flagship company of the Hinduja Group, the auto major has launched India's first 4-axle 8x2 DTLA Truck(14-wheeler) AVTR 4120 which has a capacity of 40.5 tonne Gross Vehicle Weight (GVW). This new truck offers an additional 5 ton payload compared to standard 8x2 trucks with better TCO. AVTR 4120 is fitted with 12.5-tonne dual tyre lift axle (DTLA) with Patented Parallogram technology - which ensures better tyre life. AVTR 4120 is powered with 200 HP engine with iGen6 technology offering superior power, performance and fluid efficiency.
Talking about the newly launched product range, Mr. Vipin Sondhi, Managing Director, Ashok Leyland said "Ashok Leyland has always been ahead of the curve and leads the CV industry in terms of innovation. Our endeavour has always been to address the needs of our customers and deliver better profitability for them and AVTR 4120 is one step towards this offering the customer flexibility". Commenting on the launch, Mr. Anuj Kathuria, COO, Ashok Leyland, said, "We have last year launched AVTR - India's first Modular Truck platform to address the varied Load-Road-Application and customer requirements. Now, with this innovative product we will give the flexibility to customers. In many applications the load availability is dynamic due to various factors like type of material, onward/return load, seasonality, customer order quantity, etc.
12: 55 pm: Top Sensex gainers are Bajaj Finserv, Asian Paints, Titan, Bajaj Auto and HUL rising up to 4.11%.
12: 25: Laxmi Organic share rises 49.5% over issue price
Laxmi Organic share which listed yesterday has risen to intra day high of Rs 194.40, 49.5% higher to its issue price of Rs 130. The stock listed at Rs 156, a 20% premium over the IPO issue price.
12: 00 pm: Adani Enterprises share rises 4%
Adani Enterprises share rose nearly 4% in trade today after the firm announced its entry into the copper business by incorporating a wholly owned subsidiary, Kutch Copper (KCL). The stock has gained after 2 days of consecutive fall. The large cap stock touched an intraday high of Rs 1018.85, rising 3.8% against previous close of Rs 981.55 on BSE.
11:30 am: US bond yields rise
US yields inched higher after a tepid response to the 7-year bond auction,. The dollar consolidated gains across the board, except against Sterling which saw a bit of a rebound as Boris Johnson got the parliament backing to lift the lockdown in the UK gradually. US jobless claims too came in better than expected, below the 700k mark which is keeping treasuries under pressure. The risk sentiment has been aided by President Biden set a goal of vaccinating 200mn people within the first 100 days in office, according to IFA Global Research Desk.
11:20 am: Crude prices retreats
Rising tensions between China on one hand and the EU, UK, and the US on the other due to alleged human rights violations in Xinjiang is something that needs to be monitored closely. It has the potential to sour US-China ties again. After the US imposed sanctions on Chinese officials, major US brands are facing boycott calls in China, as per IFA Global Research report.
11:15 am: Suryoday Small Finance Bank share lists at 4% discount
Suryoday Small Finance Bank listed at a discount of over 4% against the issue price of Rs 305 per share today. The share opened at Rs 292, Rs 13 or 4.26% lower than the issue price on NSE. Market cap of the lender stood at Rs 2,450 crore.
11:00 am: Rail Vikas Nigam share jumps 5% as LIC buys stake
Shares of Rail Vikas Nigam Ltd (RVNL) gained as much as 4.86 per cent in opening trade to Rs 29.10 apiece on the Bombay Stock Exchange after Life Insurance Corporation acquired 8.72 per cent stake in state-owned company. The insurance major has acquired 18.18 crore shares, representing 8.72 per cent stake in the company, through open market transaction.
10:25 am: Kalyan Jewellers lists at 15% discount against issue price
Shares of Kalyan Jewellers made a weak opening on stock exchanges on Friday, listing at Rs 73.9, a 15 per cent discount over its issue price of Rs 87 per share on the BSE. In a similar trend, the stock opened 17.64 per cent lower at Rs 73.95 on the National Stock Exchange (NSE).
10:00 am: Market insight from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Underperformance of the Indian market during the last many days is striking. The prime mover of this downtrend in the market is the FII selling (Rs 3384 cr yesterday), which, in turn, has been triggered by concerns surrounding the impact of the second wave of Covid attack. Now, we don't have clarity on the intensity of the second wave. It is largely confined to some districts with rural India unaffected. The second wave is unlikely to have a major impact on growth and corporate earnings. But the jury is still out on this. This exceedingly volatile phase of the market is turning out to be difficult terrain for traders. But, for long-term investors dips will provide opportunities to buy quality stocks. IT, financials, cement, chemicals are good bets."
9:45 am: Shares of Suryoday Small Finance Bank and Kalyan Jewellers to make stock market debut today
Shares of Suryoday Small Finance Bank and Kalyan Jewellers will be listed on BSE and NSE today. The initial public offer (IPO) of Suryoday Small Finance Bank was subscribed 2.37 times, which opened for bidding on March 17 and closed on March 19. The price band for the IPO was set at Rs 303-305 per share.
Meanwhile, Kalyan Jewellers has raised Rs 1,175 crore from IPO with issue oversubscribed by 2.61 times. The issue, which opened for subscription between March 16-18, has price band of Rs 86-87 per share. The offer comprised a fresh issue of Rs 800 crore which would be used for working capital requirements.
9:35 am: Top gainers on BSE Sensex pack
Out of 30 stocks on BSE Sensex pack, only Dr. Reddy, Sun Pharma, Dr. Reddy, and TCS opened in red, while remaining 26 shares belled in positive terrain. Mahindra & Mahindra Ltd. (Rs. 809.45, 2.09%), Larsen & Toubro Ltd. (Rs. 1397.85, 1.92%), Bajaj Finserv Ltd. (Rs. 9211.10, 1.67%), Tech Mahindra Ltd. (Rs. 986.50, 1.64%), NTPC Ltd. (Rs. 104.65, 1.60%), were among top gainers.
9:25 am: All sectoral indices opened in green
All the sectoral indices opened in green, with realty and auto stock leading the rally, rising over 1.5 per cent, each. The BSE Realty index was at 2,624.9, up by 48.59 points or by 1.89%. Godrej, Sunteck Realty, DLF, Phoenix Mills), Sobha were leading gainers on realty space.
The BSE Auto index was at 22,121.8, up by 331.13 points or by 1.52%, lead by gains in Tata Motors, Mahindra & Mahindra, Ashok Leyland, Maruti Suzuki India), Bosch.
9:15 am: Sensex, Nifty open higher
Indian benchmark indices opened higher on Friday, tracking firm cues from Asian markets. The S&P BSE Sensex opened 493 points or 1.02 per cent higher at 48,933, and NSE Nifty 50 index belled 181 points or 1.27 per cent higher at 14,506. In line with benchmark indices, broader markets also saw gap up oping, with Midcap and Smallcap indices surging over 1 per cent in opening trade. All the sectoral indices opened in green, with realty and auto stock leading the rally, rising over 1.5 per cent, each. Out of 30 stocks on BSE Sensex pack, only Dr. Reddy, Sun Pharma, Dr. Reddy, and TCS opened in red, while remaining 26 shares belled in positive terrain. Mahindra & Mahindra, Larsen & Toubro, Bajaj Finserv Ltd., Tech Mahindra, NTPC were top gainers. Shares of Suryoday Small Finance Bank, Kalyan Jewellers will be in focus as they will stock market debut today.
8:45 am: Stock in focus
Shares of Reliance Industries, Suryoday Small Finance Bank, Kalyan Jewellers, JSW Steel, BPCL, Oil India, Adani Enterprises, Edelweiss Financial Services, DLF will be in focus in Friday's trading session.
8:35 am: FIIs investment trend
The foreign institutional investors (FIIs) remained net seller in equity market, but turned net seller in debt segment on Friday. The net investment of equity and debt reported were Rs -1609.77 crore and Rs 2014.68 crore.
8:30 am: Asian markets trade higher on positive cues from US markets
Asian markets were trading higher, tracking strong cues from the US stocks which settled higher on Thursday. The China's Shanghai Composite was up 0.85 per cent, while the Hang Seng was trading 0.83 per cent higher. The Japan's Nikkei 225 was closed today.
8:25 am: US stocks ended higher
In the overnight trade, Wall Street ended in green amid, paring early losses. The Dow Jones Industrial Average ended up 0.62 per cent at 33,015 points, while the S&P 500 rose 0.52 per cent to 3,974. The Nasdaq Composite added 0.12 per cent to 13,525.
8:20 am: Stocks in focus
Shares of Reliance Industries, Suryoday Small Finance Bank, Kalyan Jewellers, Edelweiss Financial Services, DLF, Shriram Transport Finance, Moneyboxx Finance will be in focus in today's trade.
8:15 am: Positive trading at SGX Nifty indicates gap up opening for Sensex, Nifty
Indian benchmark indices are expected to open higher on Friday, tracking firm cues from Asian markets. Positive trading at Singapore Nifty futures also indicated a positive start at Dalal Street. At 8:15 AM, the Nifty futures were trading 122.50 points or 0.85 per cent higher at 14,569.50 on the Singapore Stock Exchange.
On Thursday, Indian benchmark indices lower for the second straight session amid board-based selling as futures and options (F&O) monthly contracts expire today. The S&P BSE Sensex ended 740 points or 1.51 per cent lower at 48,440, and NSE Nifty 50 index fell 224.5 points or 1.54 per cent to settle at 14,324.
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