Stock market LIVE: Sensex surges to all-time high; Nifty surges past 11,700; Tata Motors, VEDL top gainers

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Share market LIVE: The Sensex zoomed to fresh record high to move past 39,000 up 330 points, while the Nifty surged past 11,700 in the morning trade on Monday. Notably, the Nifty is just 60 points away from its all-time high. The Nifty surged past 11,700-mark for the first time since September 3, 2018. Meanwhile, Embassy Office Parks REIT listed on exchanges at Rs 309.59/share, implying a premium of around 3% as against its issue price of Rs 300.

Asian stocks rose on Monday, as signs of progress in U.S.-China trade talks and firmer Wall Street shares supported sentiment, although another defeat for British Prime Minister Theresa May’s proposed Brexit deal added to the pound’s recent woes. The markets also took heart after data released on Sunday showed factory activity in China unexpectedly grew for the first time in four months in March, suggesting government stimulus measures may be starting to have an impact. We bring to you LIVE updates.

LIVE BLOG

13:15 (IST)01 APR 2019
Is Sensex, Nifty rally here to stay? What investors must watch out for

After the Sensex hit an all-time high this morning and with the Nifty nearing its record high mark, experts caution that the rally could be losing steam in the coming days. “I feel that the signs of exhaustion have started to show up on the Index. The up-moves over past few days have come with bearish divergences on the lead indicators which are clear signs of exhaustion. Even if the up-moves continue, we may see momentum being lost over coming days. There are high probabilities that the markets show some corrective tendencies from current levels,” Milan Vaishnav, consulting technical analyst told Financial Express Online. At the day’s high Sensex moved past 39,000-mark for the first time ever to 39,028.67, while the Nifty hit an intra-day high of 11,715.65.

 

12:16 (IST)01 APR 2019
Modi wave bringing foreign investors back into market; FII inflows take Sensex to all-time high

Even as the Sensex hit a fresh record high this morning, and Nifty is just kissing distance away from all-time levels, stock markets experts say that optimism on Narendra Modi’s return to power after 2019 elections is propelling the indices higher. “The stock markets are currently behaving in a gravity defying manner. The current rally is driven by the gush of liquidity and also the improved sentiment due to expectations of favourable results from the coming general elections,” Consulting Technical Analyst, Milan Vaishnav told Financial Express Online. On similar lines, Sandip Sabharwal noted that April is a month of results season as well as pre-election moves.

 

11:08 (IST)01 APR 2019
BSE live: Sensex trims gains after hitting record high; Nifty below 11,700; financials leading gains

After reclaiming the crucial 39,000-mark, the Sensex has trimmed gains and is down to 38,941.11, while the Nifty is trading below the 11,700-mark. The Nifty surged past 11,700-mark for the first time since September 3, 2018. Among the various factors propelling the indices higher are  auto sales numbers and PMI data ahead of general Lok Sabha elections to be held this month.  A look at LIVE Sensex heatmap. 

10:23 (IST)01 APR 2019
BSE live: Sensex reclaims 39,000; Nifty surges past 11,700; Tata Motors, VEDL top gainers

The Sensex zoomed to fresh record high of 38,990, up 320 points, while the Nifty surged past 11,700 in the morning trade on Monday. Notably, the Nifty is just 60 points away from its all-time high. The Nifty surged past 11,700-mark for the first time since September 3, 2018. Meanwhile, Embassy Office Parks REIT listed on exchanges at Rs 309.59/share, implying a premium of around 3% as against its issue price of Rs 300. A look at LIVE Sensex heatmap.

10:11 (IST)01 APR 2019
What will drive Sensex, Nifty today: Rate cut, auto sales and other key factors to watch out for

With the start of the new financial year, the market investors will keenly watch the RBIpolicy, auto sales numbers and PMI data ahead of general Lok Sabha elections to be held this month.  The headline indices – Sensex and Nifty opened higher on Monday morning, tracking positive global cues. The SGX Nifty was trading 40 points higher or 0.34 per cent higher at 11,715.50. We take a look at five things which will steer the market today.

 

09:29 (IST)01 APR 2019
BSE live: Sensex, Nifty near record highs; VEDL, Tata Motors top gainers

The Sensex and Nifty are trading near record high levels on Monday morning, tracking positive global cues. The Sensex has crossed its highest closing, and is trading 240 points higher at 38,911.70, while Nifty is less than 100 points away from all-time high. Tata Motors shares zoomed by more than 4% to Rs 182, while VEDL shares jumped more than 4% to Rs 191. Bank of Baroda shares are higher by more than 2% to Rs 131.35, after the firm’s merger with Dena Bank and Vijaya Bank is effective today.

09:11 (IST)01 APR 2019
EU ‘running out of patience’ with UK over Brexit, says European Commission President Jean Claude Juncker

European Commission President Jean-Claude Juncker has said the EU is “running out” of patience with Britain over Brexit. The United Kingdom is in crisis after lawmakers three times rejected Prime Minister Theresa May’s proposed divorce deal, and now risks crashing out of the bloc in under two weeks. “With our British friends we have had a lot of patience, but even patience is running out,” Juncker told Italian public TV channel Rai 1 on Sunday. “I would like, in the coming hours and days, for Great Britain to reach an agreement on the way forward.” MPs held “indicative votes” last week on eight alternative Brexit options, but none of them achieved a majority.

 

09:04 (IST)01 APR 2019
Asian stocks lifted as Wall Street climbs on trade developments, pound sags

Asian stocks rose on Monday, as signs of progress in U.S.-China trade talks and firmer Wall Street shares supported sentiment, although another defeat for British Prime Minister Theresa May’s proposed Brexit deal added to the pound’s recent woes. The markets also took heart after data released on Sunday showed factory activity in China unexpectedly grew for the first time in four months in March, suggesting government stimulus measures may be starting to have an impact.

 

08:59 (IST)01 APR 2019
Gold slips as equities gain on trade talk progress, China data

Gold prices inched down on Monday as investor appetite for riskier assets improved on signs of progress in Sino-U.S. trade negotiations and better-than-expected Chinese economic data.  Spot gold slipped 0.1 percent to $1,290.98 per ounce by 0057 GMT, after touching its lowest since March 8 at $1,286.35 in the previous session.  U.S. gold futures were down 0.3 percent at $1,294.90 an ounce.

 

08:58 (IST)01 APR 2019
Led by Swiggy, Zomato, Big Basket, food delivery firms corner big slice of funding pie

Online food delivery and grocery players have managed to get a fairly big slice of the funding pie in 2018-19, rustling up close to $2 billion. A big chunk of this, analysts say, would be used to create delivery infrastructure and acquire customers. “India’s food delivery market is scaling up rapidly — from a 15-million order run rate as of March 2018, the market has scaled up to approximately 65-million orders currently, higher than earlier expected,” analysts at Kotak Institutional Equities (KIE) wrote in January.

 

08:57 (IST)01 APR 2019
Job market: Hiring in finance sector slowing down? Here’s what numbers say

The slowdown in the non-banking and finance companies (NBFCs) sector — following the IL&FS crisis — will see hiring in the financial services sector taper off. The sector has grown at a blistering pace in the last 10 years — two lakh jobs are estimated to have been added in the last two years alone. Indeed, lenders had been building up their teams, recruiting at a rate of annualised 15% through H12018. But the addition to the headcount in 2019 could be less than 10%, says Randstad India MD and CEO Paul Dupuis, who points out the sector now faces several challenges.

 

08:43 (IST)01 APR 2019
Explained: RBI’s liquidity management move and debate around it

Globally, there has been a paradigm shift in central banking since December 2018. The Fed has now shifted its stance decisively from rate hikes to keeping hold in 2019 and even a rate cut (as markets have started to believe)! Back home, RBI faces a similar predicament. With $14bn portfolio capital outflows turning into $8bn capital inflows beginning February, RBI has already started to aggressively recoup its reserves. Against this background, it is imperative that we spell out the contours of the current liquidity management framework by RBI and the challenges it faces.

 

08:42 (IST)01 APR 2019
Bank of Baroda now the third largest bank after SBI, HDFC Bank

State-run Bank of Baroda is catapulting itself for a larger play in the system with the merger of Dena Bank and Vijaya Bank with itself from Monday. The government-forced merger, announced last in September, creates the third largest bank in the country after State Bank of India and HDFC Bank. This is second merger of state-run banks in the recent years in the banking sector after State Bank had merged five of its associate banks- State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and State Bank of Hyderabad and also Bhartiya Mahila effective April 2017.

[“source=financialexpress”]

Author: Lili