A financial trader looks at trading data on his screens at the Aurel BGC brokerage in Paris, France. (Photographer: Antoine Antoniol/Bloomberg)

Investors Hold Big Bets As Sensex, Nifty Notch Least Gains In Three Days

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Closing Bell: Sensex, Nifty Notch Least Gains In Three Days

Indian equity benchmarks extended gains for the third consecutive trading session.

The benchmarks indices closed marginally higher after a topsy-turvy trade as gains in IndusInd Bank Ltd. and ITC Ltd. were offset by losses in Infosys Ltd. and Tata Consultancy Services Ltd.

The S&P BSE Sensex closed 0.06 percent or 23 points higher at 39,839.25 and the NSE Nifty 50 ended at 11,916.75, up 0.05 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.13 percent higher.

The market breadth was tilted in favour of buyers. About 956 stocks advanced and 771 shares declined on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU Bank Index’s 1.72 percent gain. On the flipside, the NSE Nifty Pharma Index was the top sectoral loser, down 0.12 percent.

Investors Hold Big Bets As Sensex, Nifty Notch Least Gains In Three Days

Enter Markets When You See Growth, Anand Tandon Says

Here are the key highlights from the conversation with Market Expert Anand Tandon:

  • Budget is more of expense management rather than revenue management
  • Don’t think Budget will change revenue triggers in the corporates.
  • PSU Banks are looking good with a short-to-medium term.
  • Global demand is not looking robust.

Mid, Small Caps May Outperform Nifty In 2-3 Years

The mid-cap index, which was trading at a significant premium to the Nifty in January 2018, is now converging into the similar valuations of Nifty, according to Emkay Investment Managers’ Fund Manager Sachin Shah.

“The valuations now have become very reasonable and the mid- and small-cap stocks could outperform Nifty in the next two-to-three years,” Shah told BloombergQuint in an interaction.

Nifty To Trade Within 11,450-11,950 Until Budget, Sharmila Joshi Says

The Nifty is expected to trade in a range of 11,450-11,950 until budget, Independent Investment Advisor Sharmila Joshi said.

“The markets are moving in a divergent view with regards to macro indicators. need to let the market reaction come in post budget and then take it further," Joshi told BloombergQuint in an interaction.

Fab Four Stocks Of The Day

IndusInd Bank

  • Stock rose as much as 4.2 percent to Rs 1,476.
  • Stock rose ahead of its merger with Bharat Financial, will be effective from tomorrow.

Aster DM Healthcare

  • Stock rose as much as 5.3 percent to Rs 131.70.
  • Brokerage firm HSBC expects stock to reach Rs 205, implying a potential upside of 64 percent form the current market price.

PNC Infratech

  • Stock rose as much as 7 percent to hit an all-time high at Rs 219.40.
  • Trading volume was six times its 20-day average.

Just Dial

  • Stock rose as much as 3.4 percent to Rs 790.90.
  • Fresh longs seen with high OI of 40.33 percent.

Market Check: Sensex, Nifty Head For Volatile Close

Indian equity benchmarks are headed for a volatile close.

The S&P BSE Sensex and the NSE Nifty 50 fluctuated between gains and losses to trade little changed at 39,833 and 11,915 as of 3 p.m. The broader market index represented by the NSE Nifty 500 Index rose 0.1 percent.

The market breadth was tilted in favour of buyers. About 945 stocks advanced and 768 shares declined on National Stock Exchange.

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