Sensex gains 213 points post Populist Budget Proposals


The benchmark indices settled over 0.5 per cent higher on Friday after Finance Minister Piyush Goyal announced a string of populist measures in his Interim Budget 2019 speech in the Parliament.

The S&P BSE Sensex ended at 36,469, up 213 points or 0.59 per cent, while the broader Nifty50 index settled at 10,894, up 63 points or 0.58 per cent.

In the broader market, the S&P BSE MidCap index ended at 14,641, up 81 points or 0.56 per cent, while the S&P BSE SmallCap settled at 13,950, up 24 points or 0.17 per cent.

Among sectors, the Nifty Auto index was the top gainer of the day, rising 2.71 per cent led by Hero MotoCorp and Maruti Suzuki. The Nifty IT index too rose 1.45 per cent led by HCL Technologies and Tech Mahindra.

In a major relief to the middle-class taxpayer, Finance Minister Piyush Goyal, in his Interim Budget 2019 speech announced that those earning up to Rs 5 lakh a year would not have to pay any tax. He also said that those with an annual income of up to Rs 6.5 lakh would not have to file income-tax returns.

Goyal also announced PM Kisan Samadhan Nidhi scheme in which, farmers owning up to 2 hectares of land will get Rs 6,000 per annum, which will be completely funded by the central government. This scheme is likely to benefit 12 crore small and marginal farmers, at an estimated cost of Rs. 75,000 crore, he said. Apart from this, he also said that the government has set aside Rs 60,000 crore for MGNREGA this year, and allocated Rs 19,000 crore for Pradhan Mantri Gram Sadak Yojana.

The finance minister also said that the country’s defence budget for FY20 has been increased to Rs 3 lakh crore.

The government allocated Rs 64,587 crore for railways in FY20, Goyal said adding that the railway operating ratio was seen 96.2 per cent in FY19 vs 95 per cent in FY20.

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Senses ends 170 points lower on sell-off in Maruti, ZEEL


The frontline indices have pared their day’s gains and are trading on a flat note driven by a sharp selloff in the media stocks.

Among sectors, the Nifty Media index slipped around 10 per cent in the afternoon trade led by a sharp selloff in shares of Zee Entertainment Enterprises (ZEEL) and Dish TV.

In the broader market, S&P BSE MidCap index was trading  0.79 per cent or 118 points lower at 14,742, while S&P BSE SmallCap index was ruling at 14,113, down 112 points or 0.79 per cent.

Maruti Suzuki slipped nearly 9 per cent to Rs 6,420 in afternoon trade after the country’s largest passenger car maker reported a 17.26 per cent fall in its net profit at Rs 1,489.3 crore for the third quarter of FY19. The carmaker had reported PAT of Rs 1,800 crore in the year-ago quarter. On QoQ basis, the figures fell 33.5 per cent. Total revenue from operations stood at Rs 19,668.3 crore against Rs 19,283.2 crore in the year-ago period. Basic EPS (earnings per share) came in at Rs 49.30 against Rs 59.56 in the corresponding quarter previous fiscal.
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Sensex slips 97 points on Friday, Nifty ends at 10,795; TCS falls over 2%


The benchmark indices settled marginally lower on Friday weighed by IT bellwether Tata Consultancy Services (TCS) and select banking and automobile stocks.

The S&P BSE Sensex ended at 36,010, down 97 points or 0.27 per cent, while the broader Nifty50 index ended at 10,795, down 27 points or 0.25 per cent. On a weekly basis, the S&P BSE Sensex rose 0.88 per cent, while Nifty50 rose 0.63 per cent.

In the broader market, the S&P BSE MidCap index ended at 15,177, down 19 points or 0.13 per cent, while S&P BSE SmallCap index slipped 28 points or 0.19 per cent to 14,600.

Shares of Eveready Industries India (EIIL) jumped 13 per cent to settle at Rs 205 per share on the BSE on reports that promoter BM Khaitan is likely to sell the flagship company, a leader in dry cell batteries and flashlights.

IT bellwether Infosys gained 0.58 per cent to settle at Rs 684 on the BSE ahead of the board meeting today to consider the financial results for the third quarter of the financial year 2018-19 (FY19). Its peer Tata Consultancy Services (TCS) declined 2.45 per cent to Rs 1,842 even as it earned its highest-ever net profit of Rs 8,105 crore in the seasonally weak third quarter (Q3) of 2018-19 (FY19).

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Sensex ends at new closing high of 37,337; ITC up 5% post Q1


The benchmark indices ended at record closing high for the second straight session on Friday on strong quarterly results. The gains were led by index heavyweights like ITC, RIL, and Hindalco.

The S&P BSE Sensex settled at a record high of 37,337, up 352 points, while the broader Nifty 50 index settled at a new high of 11,278, up 111 points.

In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37368.62 while the Nifty50 index touched its record high level of 11,283.40.

Leading the gains is ITC, which has surged over 5 per cent on the BSE. Beating street estimates, diversified conglomerate ITC on Thursday posted a 10.07 per cent jump in its net profit at Rs 28.19 billion for the quarter ended June 30, 2018 with its total revenue, inclusive of other income, registered at Rs 112.78 billion.

Among other gainers, Reliance Industries was among the top contributors to the NSE index, up over 1.5 per cent ahead of its quarterly results later in the day. The oil-to-retail conglomerate will also report results of its telecom arm Reliance Jio.

Nifty Bank index also hit an all-time high, ending 0.8% higher for the day. IDFC Bank, Federal Bank, and Axis Bank were the top gainers in the pack, up between 2 per cent to 2.6 per cent.

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Sensex ends flat on Friday, Nifty below 10,100; indices up 1% for the week


Equity benchmarks rebounded in last hour of trade, but ended flat supported by index heavyweights Reliance Industries, HDFC Bank and Infosys. The indices were up 1% for the week.

The S&P BSE Sensex settled at 32,272, up 30 points while the broader Nifty50 index ended at 10,085, down 1 point

Among broader markets, BSE Midcap index underperformed the benchmarks indices, down 0.3% while BSE Smallcap index was up 0.4%

Global stocks remained subdued after North Korea fired another missile over Japan into the Pacific Ocean on Friday, in a sign that Pyongyang remains defiant despite tightening international sanctions.

The Nifty Pharma Index was down 0.5%, breaking its three-day winning streak.

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Sensex rises 124 points, Nifty50 ends near lifetime high


In a highly volatile session, the domestic equity market ended on a positive note with BSE Sensex just 40 points shy of its record high level and Nifty50 closing near its all-time high.

Sensex closed 124 points or 0.39 per cent higher at 32,020.89 while Nifty50 closed the day at 9,915.25, up 42 points or 0.42 per cent.

The 30-share pack had opened at 32,035.88 and touched an intraday high and low of 32,062.23 and 31,808.93, respectively, as index heavyweights WiproBSE 6.47 % (up 6.54 per cent) and Reliance (up 3.75 per cent) hogged the limelight.

BSE Midcap index gained 6 points or 0.04 per cent to 15,185.53 as shares of Adani Power, Bajaj Holdings and Bajaj Finserv surged up to 7 per cent.

On the other hand, BSE Small Cap index shed 7 points or 0.05 per cent to end the day at 15,992.63 as shares of Gujarat NRE Coke (down 6.55 per cent), Nucleus (down 6.07 per cent) and Dish Tv (down 5.85 per cent) capped gains.

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Markets settle holiday-truncated week lower, Nifty ends at 9,150


The benchmark indices on Thursday settled the holiday-truncated week lower after index heavyweight Infosys’ revenue guidance and plan to distribute cash to shareholders fell short of expectations, raising concerns at the start of the March quarter earnings.

The geopolitical worries, after the United States launched cruise missiles against an air base in Syria last week and fears of a new weapons test by North Korea, also contributed to the losses.

Investors also took cues from the index of industrial production (IIP) data, which contracted in February and consumer price index (CPI)-based inflation data, which edged up in March.

The S&P BSE Sensex settled at 29,461, down 182 points, while the broader Nifty50 ended at 9,150, down 53 points. For the week, the Sensex shed 245 points or 0.8%, while the Nifty slipped 47 points or 0.5%.


Rupee, IT stocks, global cues take the Sensex 456 points higher on Friday


Snapping previous session’s losses, the benchmark indices on Friday staged a smart recovery led by gains in IT and pharma stocks after the rupee on Thursday hit its all-time low against dollar. Positive global cues as dollar retreated from 14-year high mark also added to the gains.

The S&P BSE Sensex settled the day at 26,316, up 456 points, while the broader Nifty closed at 8,114, up 149 points. In broader markets, BSE Midcap was up 1.3% while smallcap ended 2% higher.

Export-driven businesses like information technology (IT) and pharmaceutical rallied on the index today after rupee touched its record low on Thursday. These stocks earn more revenues on rupee depreciation as every dollar earned through exports means more rupees added to their bottom line.


Reblog: Seeking stocks that beat market returns? Apply these 2 filters


This is an interview with Saurabh Mukherjea, author of the book ‘The Unusual Billionaires’. The original post appears here on moneycontrol.com.

Saurabh feels the buy-and-hold approach to investing holds true even as volatile financial markets and disruptive changes across sectors are questioning its validity.

Consistent revenue growth combined with a consistent return on capital employed: if a company has been delivering on these two parameters for over ten years, then look no further. That, in effect, is the theme of Saurabh Mukherjea’s second book ‘The Unusual Billionaires’. The book says that a portfolio of companies which satisfies both these criteria will invariably beat the market over the next decade and more.

Mukherjea, whose day job is CEO, Institutional Equities at Ambit Capital, feels the buy-and-hold strategy for stock investing holds true even as volatile financial markets and disruptive changes across sectors are questioning its validity.

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