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Indian Share Markets End FY19 on a Positive Note, Upcoming IPOs and Top Stocks in Action Today
Mon, 1 Apr Pre-Open | Rini Mehta, TM Team

On Thursday, the Indian share markets continued their momentum throughout the day and ended marginally higher. Gains were largely seen in the metal sector, healthcare sector and automobile sector.

At the closing bell, the BSE Sensex stood higher by 127 points (up 0.3%) and the NSE Nifty closed higher by 54 points (up 0.5%). The BSE Mid Cap index ended the day up 1% and the BSE Small Cap index, ended the day up by 0.7%.

Top Stocks in Focus

Punjab National Bank share price will be in focus today as it has entered into agreement for sale of 10.9 million equity shares held in PNB Housing Finance to General Atlantic Group at a per share price of Rs 850 aggregating to Rs 9.3 billion.

Zydus Cadila has received the final approval from the United States Food & Drug Administration (USFDA) to market Ambrisentan Tablets USP (US RLD-Letairis Tablets), 5 mg and 10 mg. Cadila Healthcare will be watched out today.

Kalpataru Power has secured new orders of Rs 5.9 billion. The stock will be in focus.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Global Stock Market Drivers

Stocks climbed globally on Friday to round out a strong quarter while bonds edged lower as investors gauged the growth outlook and hopes for a China trade deal.

The dollar held four days of gains.

Equities rose across Asia, with Chinese shares posting the biggest gains. European sovereign bonds nudged lower.

Whether the rebound in stocks can spill over into the second quarter may depend on the outcome of trade talks between Chinese and American negotiators, who are said to be working line-by-line through the text of an agreement.

Meanwhile, nerves remain frayed after the inversion of a key part of the US yield curve, with grumblings over Brexit delays in the background.

Here are some key events to watch out for:

  • Fed official Randal Quarles will speak to the Shadow Open Market Committee on "Strategic Approaches to the Fed's Balance Sheet and Communications."
  • Theresa May will put her Brexit divorce deal to a vote in Parliament.

Oil Extends Loss

Oil prices rose on Friday, pushed up by ongoing supply cuts led by producer club OPEC and US sanctions against Iran and Venezuela, putting the crude markets on pace to post their biggest first quarter gain since 2009.

US West Texas Intermediate (WTI) futures were at US$59.56 per barrel, up 0.4% from their last settlement.

WTI futures are set to rise for a fourth straight week and are set for a first quarter gain of 31%. Brent crude oil futures were up by 0.4%, at US$68.12 per barrel.

For both futures contracts, the first quarter 2019 is the best performing quarter since the second quarter of 2009 when both gained about 40%.

Oil prices have been supported for much of 2019 by the efforts of the Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies like Russia, together known as OPEC+, who have pledged to withhold around 1.2 million barrels per day (bpd) of supply this year to prop up markets.

From the IPO space...

The IPO of Rail Vikas Nigam Ltd (RVNL) opened for subscription on Friday. The state-owned company is offering 253.4 million shares at a price band of Rs 17-19 per equity share.

The Rs 4.8-billion RVNL IPO will close on April 3.

RVNL will be the third rail PSU to be listed after RITES and IRCON. RVNL will not receive any proceeds from the offer for sale since the government is selling about 12% stake in the company. After the IPO, the central government's stake in RVNL will drop around 88%.

Meanwhile, diagnostics company Metropolis Healthcare's IPO which plans to raise up to Rs 12 billion will open for subscription on 3 April.

The price band has been fixed in the range of Rs 877-880 per share. The company looks to sell 13.7 million shares.

We will keep you updated on all the developments from this space. Stay tuned.

Speaking of IPOs, we at Equitymaster believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs.

If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

To know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Stock Market Updates

TUBE INVESTMENTS OF INDIA LTD Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Aug 7, 2020 03:34 PM

TUBE INVESTMENTS OF INDIA LTD share price is trading up by 5% and its current market price is Rs 558. The BSE CAPITAL GOODS is up by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are TUBE INVESTMENTS OF INDIA LTD (up 5.2%) and HONEYWELL AUTOMATION (up 14.2%). The top losers are V GUARD INDUSTRIES (down 0.2%) and SKF INDIA (down 0.3%).

BANK OF BARODA Share Price Up by 5%; BSE BANKEX Index Up 0.4% (Today's Market)

Aug 7, 2020 03:34 PM

BANK OF BARODA share price is trading up by 5% and its current market price is Rs 49. The BSE BANKEX is up by 0.4%. The top gainers in the BSE BANKEX Index are BANK OF BARODA (up 5.1%) and RBL BANK LTD (up 9.7%). The top losers are AXIS BANK and SBI (down 0.2%).

ADANI TRANSMISSION Share Price Up by 9%; BSE POWER Index Up 1.4% (Today's Market)

Aug 7, 2020 03:34 PM

ADANI TRANSMISSION share price is trading up by 9% and its current market price is Rs 254. The BSE POWER is up by 1.4%. The top gainers in the BSE POWER Index are ADANI TRANSMISSION (up 9.0%) and JSW ENERGY (up 5.3%). The top losers are NTPC (down 0.3%) and KALPATARU POWER (down 0.5%).

ESSEL PROPACK Share Price Down by 5%; BSE 500 Index Up 0.3% (Today's Market)

Aug 7, 2020 03:14 PM

ESSEL PROPACK share price is trading down by 5% and its current market price is Rs 275. The BSE 500 is up by 0.3%. The top gainers in the BSE 500 Index are HONEYWELL AUTOMATION (up 11.7%) and RBL BANK LTD (up 10.0%). The top losers are ESSEL PROPACK (down 5.0%) and LUPIN (down 6.0%).

EMAMI LTD Share Price Up by 6%; BSE FMCG Index Up 0.8% (Today's Market)

Aug 7, 2020 02:26 PM

EMAMI LTD share price is trading up by 6% and its current market price is Rs 254. The BSE FMCG is up by 0.8%. The top gainers in the BSE FMCG Index are EMAMI LTD (up 6.2%) and GSK CONSUMER (up 5.1%). The top losers [TOPLOSERS].

Sensex Trades Marginally Lower; HCL Technologies & Infosys Top Losers (Today's Market)

Aug 7, 2020 12:30 pm

The BSE Sensex is trading down by 83 points, while the NSE Nifty is trading down by 18 points.

View More Indian Share Market News

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