Stock Market Live: Sensex off day high, Nifty around 15,050; banks rise, energy stocks fall

Market Quote from Manish Hathiramani, Technical Analyst and Property Index Trader at Deen Dayal Investments

“We are moving towards the upper end of the Nifty range, which is 15,300. If we break it, we would be out of the choppy zone and then we could aim to hit 15,500-15,600 on the index. Until then, we will be stuck in this band between 14,800-15,300. Good support is at 14,800 and as long as it is not violated, the general trend continues to be bullish. “

JMC Projects shares recover more than 13% after partners sign an agreement for the project Rs 1000-cr

JMC Projects (India) share price rallied over 13 percent to hit a 52-week high of Rs 88.80 each on the BSE after the company signed a deal with Fahi Dhiriulhun Corporation of Maldives for a project. worth Rs 1,000 crore. In an exchange presentation, JMC Projects said that it had signed an agreement with Fahi Dhiriulhun Corporation Limited (FDC), a state-owned company of the Government of the Republic of Maldives, for the design, financing and construction of 2,000 social housing units on the Maldives’ Hulhumale Island. . “The total value of this project is estimated at around $ 137 million (around Rs 1000 crore) and it is planned to be financed through a loan from a multilateral financing agency,” the company said. More here

Morning Market Quote from Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services

“As of now, markets have ignored the initial scare brought on by rising bond yields. Bulls are back in action in the US mother market. But in India, continued sales of FIIs are preventing markets from scaling new highs. Markets are likely to consolidate. Investors can use dips to buy high-quality names in private sector banking, insurance, IT, cement, and automobiles. For small and mid-cap companies , there is more room to appreciate ”

Momentumisers: Here’s why Infosys is constantly moving forward and what’s next

The Infosys share price has risen from Rs 1,240 each to around Rs 1,340 in the last 10 days. The uptrend in TI stocks has come with some hedging short because open interest is down close to around 5 percent and is close to above the 20-day moving average (DMA), 50 DMA, and 100. DMA. If Infosys can maintain levels of Rs 1,215 to Rs 1,300, it will be interesting to see if the shares can trade higher. Watch the video for more details.

Cement would be a good sector to hang onto, says UTI AMC’s Swati Kulkarni

Swati Kulkarni, UTI AMC Executive Vice President and Equity Fund Manager believes that cement would be a good sector to stay in for the next 3-5 years. She said: “The thought process has been to look at companies within the cement sector that have been very good at the level of capital efficiency. At the moment, North and Central India are probably strong in terms of demand. So this sector is also looking good from a cyclical perspective, especially when you see that private capital spending could be boosted due to the revival of housing. Also, infrastructure is something that is in the long-term planning. So from a long-term perspective of about 3-5 years, this sector could be a good sector to hold onto. ” More here

Opening Bell: Sensex Opens 450 Points Higher, Nifty Approaching 15,100; banks, metals go up

Indian indices opened higher on Tuesday following gains in Asian stocks, which rose mainly on prospects for a global recovery and the passage of a $ 1.9 trillion US stimulus bill. Nationwide, all sectors witnessed broad-based buying, with banks, financials and metals being the most supportive of the indices. At 9:18 a.m., the Sensex climbed 443 points to 50,884 while the Nifty climbed 129 points to 15,085. The broader markets were also in line with benchmarks with the mid-cap and small-cap indices rising 0.7 percent and 0.9 percent, respectively. In the Nifty50 index, SBI Life, Grasim, UltraTech Cement, HDFC Bank and Hindalco were the main winners, while BPCL, IOC, GAIL, UPL and Infosys led the losses.

Gasoline and diesel prices remain stable for the tenth consecutive day

Oil Trading Companies (OMCs) held gasoline and diesel rates static for the 10th day in a row on Tuesday. Consequently, gasoline prices in Delhi were unchanged at Rs 91.17 per liter, while diesel prices remained their price line of Rs 81.47 per liter in the national capital, according to Indian Oil Corporation, the largest fuel retailer in the country. In Mumbai, the price of gasoline was unchanged at Rs 97.57 per liter on Monday. The cost of diesel was also the same at Rs 88.60 a liter. Gasoline and diesel prices are reviewed daily by oil marketing companies, such as the state-owned Indian Oil, and any review takes place starting at 6 in the morning.

Gold prices recover from 9-month low: expert discusses buying strategies

There are two or three ways people buy gold, Nirupama Soundararajan, principal investigator and principal investigator at the Pahle India Foundation, said Monday. In an interview with CNBC-TV18, he said: “There are two or three ways that people buy gold. One, the trigger has been some kind of holiday or occasion. Second, you buy gold where people save and buy. Third, ad hoc purchases; Ad hoc purchases have always been low and it is probably through a channel such as digital that ad hoc purchases occur. “” Gold is not something that is traded in the short term. Gold has always been a good that is maintained medium or long term. Historically, the medium term seems to be an ideal time to conserve gold, which is between three and five years because then you have a more realistic idea of ​​what is happening in the economy, “said Soundararajan. For more details, watch the video.

Oil prices rise due to expected economic recovery, probable drop in oil reserves

Oil prices rose on Tuesday on expectations of a recovery in the world economy after the approval by the Senate of a stimulus bill of 1.9 trillion dollars and a probable reduction in the inventory of crude in the United States. . But a stronger dollar and receding fears of Saudi Arabia’s oil supply disruption after an attack on its oil facilities limited price gains. May Brent crude futures rose 32 cents, or 0.5%, to $ 68.56 a barrel at 0125 GMT, while April’s West Texas Intermediate (WTI) crude was up 19 cents, or 0. , 3%, at $ 65.24. On Monday, the price of Brent crude oil rose above $ 70 a barrel after Yemen’s Houthi forces fired drones and missiles at the heart of the Saudi oil industry, including a Saudi Aramco facility in Ras Tanura, vital. for oil exports.

The dollar reigns supreme in performance, recovery advantage

The US dollar held near a 3 1/2 month high against its rivals on Tuesday as higher bond yields and expectations of a faster economic normalization of the pandemic in the United States put the US currency in check. at an advantage. The dollar index against the six major currencies rose 0.1% to 92.469, its highest level since the end of November, based on gains of 0.5% on Monday. Against the yen, the dollar rose to 109.19 yen, its highest level in nine months, while the euro fell to $ 1.18355, a low last seen in late November.

First, here is a quick update on what happened in the markets on Monday.

Indian indices leveled off on Monday as gains in metals and energy stocks were limited by losses in finance and the consumer goods sector. Meanwhile, global stocks also fell as the Senate’s passage of a $ 1.9 trillion stimulus bill put new pressure on Treasuries and highly valued tech stocks, which inflationary nervousness increased. The Sensex finished 36 points higher at 50,441 while the Nifty rose 18 points to 14,956. The broader markets, however, finished positive for the day with the mid-cap index rising 0.3 percent and the small-cap index rising 0.5 percent. In the Nifty50 index, UPL, GAIL, L&T, ONGC and SBI Life were the main winners, while IndusInd Bank, Shree Cement, Bajaj Finance, UltraTech Cement and Bajaj Auto led the losses. Across sectors, gains were seen in the energy, metals and IT sectors, with indices increasing between 0.4 and 1 percent each. Nifty Bank and Nifty Pharma were also up 0.2 percent each. Meanwhile, Nifty FMCG, Nifty Fin Services and Nifty Auto trailed the day’s top-line indices.

Welcome to the CNBC-TV18 Market Live blog

Good morning readers! This is Pranati Deva from the market desk of CNBC-TV18. Welcome to our market blog, where we provide live news coverage of the latest events in the stock market, business and the economy. We will also get instant reactions and guests from our stellar list of television guests and editors, researchers, and internal reporters. If you are an investor, we wish you a great trading day. Good luck!