A Strong Weekly Expiry
Indian equities ended the weekly options expiry session and the holiday-shortened week on a positive note, closing near the highest point of the day.
The S&P BSE Sensex ended 1% higher at 50,029 while the NSE Nifty 50 index rose 1.2% to end at 14,867. 41 out of the 50 index constituents ended the day with gains.
For the week, the Sensex gained 2.1% while the Nifty was up 2.5% - the first weekly gain for the benchmark indices in three weeks.
Among the sectoral indices, Metal stocks were the outperformers by a distance in today's session. The index ended 5.3% higher - its biggest single-day gain in a year. The index also rose for the fifth straight day, ending at the highest level in over three years.
Other outperformers in today's session included the PSU Bank index which rose 2.6% and the Nifty Media index which gained 2.3%.
The Nifty Bank index rose 550 points to end at 33,858. The Nifty Auto index also ended with gains of 1.6%.
FMCG stocks were the underperformers in today's session with the index ending 0.2% lower.
Broader markets outperformed the benchmark indices. The Nifty Midcap index rose 1.8% while the Smallcap index gained 2.1% at the close of trade.
The India Volatility Index fell 3.2% to end at 19.99.
1,565 stocks on the NSE ended with gains while 352 declined.
How Did The Markets Fare This Week
Gainers & Losers Of The First Quarter Of 2021
All Stocks On The PSU Bank Index Gain
Today's Top Nifty Gainer: JSW Steel
Ashok Leyland March Sales Update
- Overall sales at 17,231 units Vs 2,126 units
- M&HCV Truck sales at 9,674 units Vs 879 units
- M&HCV Bus sales at 1,427 units Vs 899 units
- LCV sales at 6,130 units Vs 348 units
GST Collections In February At Record High
- GST revenues for February, collected in March, stood at Rs 1.24 lakh crore
- GST collection stayed above the Rs 1 lakh crore level for sixth straight month
- Finance ministry says the GST collection is clear indication of rapid economic recovery post pandemic
- The GST revenue for January was at Rs 1.13 lakh crore
Coal India Provides Updates For March
- Offtake up 11.9% at 59.7 MT Vs 53.4 MT during the same period last year
- Offtake for FY21 down 1.3% at 573.8 MT Vs 581.4 MT
- Production down 3.8% to 81.2 MT Vs 84.4 MT
- Production for FY21 down 1% at 596.2 MT Vs 602.1 MT
Benchmark Indices Set To End The Week With Gains
- Nifty up 0.8% at 14,809
- Sensex up 0.6% at 49,829
- Nifty Bank up 0.6% at 33,499
- Nifty Midcap index up 1%
- Nifty Smallcap index up 1.6%
- India Volatility Index down 2.4% to 20.2
- Nifty Metal index remains the top sectoral gainer; up 4%
- PSU Bank index up 1.5% while Auto index gains 1.2%
- Nifty Media and Nifty Pharma indices up 1% each
- JSW Steel remains the top Nifty gainer; up 6.7%
- 42 out of the 50 index constituents advance
- HDFC Bank is the top Nifty laggard; down 0.8%
- 1,548 stocks on the NSE trade with gains while 343 decline
Dish TV Gets In-Principle Nod From I&B Ministry
- Gets in-principle approval from Ministry of Information & Broadcasting for grant of provisional license to provide D2H broadcasting service in India from April 1, 2021
- Company will enter into an agreement with the I&B Ministry and provide bank guarantees in terms of the DTH guidelines.
- Approval is valid for a period of 20 years upon completion of required formalities.
- Shares gained as much as 18% to Rs 10.9 post the announcement.
Mishra Dhatu Nigam (MIDHANI) Reports FY21 Sales
- FY21 overall sales at Rs 810 crore which is the highest ever Vs Rs 712.88 crore in FY20
- Highest ever exports of Rs 19.5 crore as compared to Rs 10.4 crore in FY20
- Managed to mitigate impact of Covid-19 due to better planning and execution
- Figures are provisional and unaudited.
- Shares gained as much as 5.6% to Rs 186.75
All But One Stock On The Metal Index Gain
Bharat Electronics Achieves Record Turnover In FY21
- Overall turnover in FY21 about Rs 13,500 crore (provisional & unaidited) as compared to Rs 12,608 crore in FY20.
- Record turnover despite challenges posed by Covid-19 and intense business competition.
- Order book as on April 1, 2021 at around Rs 53,000 crore.
- Secured significant orders worth Rs 15,000 crore in FY21.
- Achieved export sales of around $50 million during FY21.
- Forayed into new segments like healthcare solutions, network and cyber security, space electronics, energy storage systems and are confident of making significant headway in these segments going ahead.
Mahindra & Mahindra March Sales
- Overall Passenger Vehicle sales at 16,700 units Vs 3,383 units
- Overall exports at 2,126 units Vs 554 units
- Three-wheeler sales at 4,461 units Vs 421 units
- Utility Vehicle sales at 16,643 units Vs 3,111 units
- Total tractor sales at 30,970 units Vs 13,613 units
- Domestic tractor sales at 29,817 units Vs 13,418 units
- Tractor exports at 1,153 units Vs 195 units
Mahindra & Mahindra March Sales
- Overall Passenger Vehicle sales at 16,700 units Vs 3,383 units
- Exports at 2,126 units Vs 554 units
- Utility Vehicle sales at 16,643 units Vs 3,111 units
- Three-wheeler sales at 4,461 units Vs 421 units
- Farm equipment sales at 30,970 units Vs 13,613 units
- Domestic sales at 29,817 units Vs 13,418 units
- Tractor exports at 1,153 units from 195 units
Tata Motors March Auto Sales
- Total domestic sales at 66,609 units Vs 11,012 units
- Total Commercial Vehicle sales at 40,609 units Vs 7,123 units
- Domestic CV sales at 36,955 units Vs 5,336 units
- CV exports at 3,654 units Vs 1,787 units
- Total Passenger Vehicle sales at 29,654 units Vs 5,676 units
- FY21 overall PV sales at 2,22,025 units Vs 1,31,196 units
Benchmark Indices Fluctuate Between Gains & Losses
- Nifty up 0.4% at 14,745
- Sensex up 122 points at 49,626
- Nifty Bank up 0.2% at 33,364
- Nifty Midcap index up 0.7%
- Nifty Smallcap index up 1.6%
- India Volatility Index down 2.7% to 20.1
- Nifty Metal index is the top sectoral laggard; up 3.7%
- PSU Bank index up 0.9% while Auto and I.T. indices gain 0.5% each
- FMCG index is the only sectoral laggard; down 0.2%
- JSW Steel remains the top Nifty gainer; up 6.7%
- Top three gainers on the Nifty 50 index are metal stocks
- Mahindra & Mahindra is the top Nifty laggard; down 1.6%
- 1,503 stocks on the NSE gain while 366 are declining
Maruti Suzuki Sales For March 2021
- Overall sales at 1,67,014 units as compared to 83,792 units
- Domestic sales at 1,55,417 units Vs 79,080 units
- Exports at 11,597 units Vs 4,712 units
- Numbers in March 2020 were impacted due to lockdowns
- Passenger car sales at 1,08,482 units Vs 58,370 units
- Overall FY20 sales down 6.7% at 14,57,861 units Vs 15,63,297 units
Wipro's Latest Acquisition
IGL Signs Long-Term Agreement With DTC
- Signs long-term gas supply agreement with Delhi Transport Corporation.
- To supply CNG for a period of 10 years till December 2030.
- DTC has provided 19 plots adjacent to its depots to IGL for creation of hybrid facilities, which are used as retail outlets.
APL Apollo Tubes Sales Update For March Quarter
- Reported sales volume of 4,35,348 tonnes in Q4FY21 as compared to 4,00,616 tonnes in Q4FY20.
- Apollo Tricoat sales volume at 66,140 tonnes as compared to 72,640 tonnes in Q3FY21.
- Increased market share to 50% from 40% in March 2020.
Benchmark Indices Trade With Gains
- Nifty up 0.6% at 14,776
- Sensex up 0.6% at 49,782
- Nifty Bank up 0.2% at 33,379
- Nifty Midcap index up 1%
- Nifty Smallcap index up 1.6%
- India Volatility Index down 2.6% to 20.12
- Nifty Metal is the top sectoral gainer; up 1.9%
- Nifty I.T. index gains 1.2% while PSU Bank index is up 1%
- JSW Steel is the top Nifty gainer; up 3.6%
- 44 out of the 50 index constituents trade with gains
- HDFC Life is the top Nifty laggard; down 1.6%
- 1,529 stocks on the NSE trade with gainswhile 269 decline
No Cut In Interest Rates
Escorts Reports Highest Ever Sale In March
- Overall sales up 126.6% at 12,337 units from 5,444 units
- Domestic sales up 124.4% at 11,730 units from 5,228 units
- Exports up 181% at 607 units from 216 units
- March 2020 sales are not comparable as they were impacted due to the Covid-19 lockdown
- Quarterly sales up 62.1% at 32,588 units from 20,108 units
- Crossed 1 lakh units in overall sales in FY21 - the first time ever
- Company says rising inflation continues to remain a worry
A Positive Start
Indian equities began the final trading day of the truncated week on a strong note after a bout of correction on Wednesday. Sentiment across the Asia-Pacific region remains positive as well.
The S&P BSE Sensex opened 0.7% higher at 49,868 while the NSE Nifty 50 index also rose 0.7% at the start of trade to open at 14,798.
Both benchmark indices had given up half of Tuesday's gains courtesy the correction on Wednesday.
Most sectoral indices too have opened higher. The PSU Bank index is up 1.4% courtesy various banks receiving capital infusion from the government. The Nifty Bank index too is up close to 300 points at the start of trade.
The Nifty Auto index is up 1.1% while the Metal index is up 0.8%.
Broader markets have opened in-line with the benchmark indices. The Nifty Midcap index opened 0.8% higher while the Smallcap index rose 0.9%.
Current Market Update
First Day Of FY22
Good Morning!
Indian equities gave up half of Tuesday's gains in mid-week trading, dragged by the HDFC twins and IT stocks.
Despite Wednesday's drop, benchmark indices are still poised to post gains for this truncated week. So far this week, the Sensex and Nifty have gained over 1% .
Futures are indicating a positive start to the weekly options expiry session as well as the final trading day of this holiday-shortened week. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.8% to 14,858, as of 8:00 a.m. on Thursday.
Auto stocks will be in focus as companies report their sales data for the month of March. IT stocks will also be on the radar, courtesy some new deals and acquisitions.
- Asian equities rose this morning as investors assessed U.S. President Joe Biden's infrastructure stimulus plans.
- Markets in Japan and South Korea rose as did those in Hong Kong and China.
- Futures on the Dow Jones are flat. The index fell 0.3% overnight.
- Yields on the 10-year treasuries stood at 1.74% after their worst quarterly performance since 1980.
- West Texas Intermediate crude rose 0.6% to $59.5 per barrel ahead of the OPEC+ meeting on Thursday.
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