Sensex Holds 150-Point Lead; Karda Slumps 37% On Debut

F&O Check: Nifty 10,000  Put Option Most Active Contract On NSE

 

Nifty 10,000 strike price put option was the most active options contract on the National Stock Exchange. As many as 7.23 lakh shares were added in open interest which rose to over 39 lakh shares.

On the other hand, Nifty 10,400 strike price call was the most active call options contract which saw addition of over 4 lakh shares to 21.67 lakh shares.

 Kwality Slumps 35% In Three Sessions

Shares of the Delhi-based dairy products maker was locked in a 10 percent lower circuit at Rs 53.15 after the company informed stock exchanges that a director and investor in the company informed it that a registered broker F6 Finserve located in Gurugram fraudulently offloaded some shares of the company.

Meanwhile, the investor is in the process of initiating legal proceedings and police complaint against the broker.

The shares of the company have fallen as much as 35 percent in the last three trading sessions to hit its lowest level in 21 months.

Dilip Buildcon Surges After BofAML Initiates Coverage

Shares of the Bhopal-based road maker rose as much as 12 percent, the most in over five months, to record high of Rs 1,124 after international brokerage Bank of America Merrill Lynch initiated coverage on the stock with a ‘buy’ for target price of Rs 1,244.

 Karda Constructions Makes Weak Stock Market Debut

The Nashik-based construction company listed at a discount of 24.4 percent at Rs 136 per share on the National Stock Exchange, compared to its issue price of Rs 180 apiece.

The stock fell as much as 28.2 percent to Rs 129.20 thereafter.

The construction company’s Rs 77.4 crore initial public offering was subscribed 2.44 times on the final day of bidding.

Sandhar Technologies Lists At 4% Premium On Stock Market Debut

Shares of the Gurugram-based auto parts maker rose 3.91 percent to open at Rs 345 compared with its issue price of Rs 332 per share.

The stock rose as much as 5.42 percent to Rs 350.

Sandhar Technologies Ltd.’s Rs 512-crore initial public offering was subscribed 6.12 times on the final day of bidding.

Auto Stocks Gain On March Sales Numbers

Shares of auto makers were trading higher on the back of robust sales numbers reported in March. Gauge of auto makers on the National stock Exchange — NSE Nifty Auto index rose 1.2 percent led by Tata Motors and Maruti Suzuki.

ICICI Bank Falls Most In Over 2 Months As SEBI Begins Enquiry In Loan To Videocon

Shares of the country’s leading private-sector lender fell as much as 4.6 percent, the most in over two months, to Rs 265.55, also its lowest level since Oct. 2017.

Opening Bell

Indian equity benchmarks rose led by auto stocks like Tata Motors and Maruti Suzuki after they ended financial year 2017-18 with a double-digit sales growth.

However, the gains were capped as ICICI Bank fell after reports alleged quid pro quo between Videocon Group and the bank’s Chief Executive Officer Chanda Kochhar as well as her family members with respect to extending a loan worth Rs 3,250 crore

The S&P BSE Sensex rose 0.26 percent or 75 points to 33,041 and the NSE Nifty 50 index gained 0.4 percent or 42 points to 10,160.

Nine out of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the NSE Nifty Auto index’s 1.1 percent gain. On the flipside, the NSE Nifty Private Bank index was the top sectoral loser, down 0.4 percent.

Bajaj Auto Sales Rise 23% In March

The two-wheeler makers’ sales rose 22.8 percent to 3.34 lakh units versus 2.72 lakh units during the same period last year.

Money Market Heads Up!

Although markets are shut on Monday It will be a fairly big week for bond traders with the Reserve Bank of India set to announce monetary policy on Thursday.

The central bank is widely expected to hold rates but what investors will be on the lookout is whether it retains its hawkish tone towards inflation. The inflation rates have been edging lower, but that could be temporary.

India’s benchmark 10-year sovereign bonds complete their first monthly advance since July in March. Bulk of those gains came in one day, after the government said it will sell less debt than the market expected in the first half of the fiscal year starting April 1.

The 10-year yield finished at 7.40 percent on Wednesday, having dropped 33 basis points in March.

Wealth buildup financial services

source by : bloombergquint