Markets On Newer Highs Celebrate Holi With Green

Our Analysis

This week the auspicious occasion of Holi was celebrated in India, However, D-street witnessed the early celebration of Holi with bulls dancing and fetching returns on their investment, Indian share market had played the Holi with green only. As the Benchmark indices rallied to register the 7-Month high, The key drivers were the prospect of a mega-win for the BJP in the forthcoming election, Strong FII inflows, Ruppe appreciation, and the global investment bank Goldman Sachs upgrading Indian stock to "overweight".

Nifty50 is continuously making a higher high, Indicating the positive momentum. Recovery in selected IT stock and the late bounce in banking stock has sustained the nifty above 11,500 marks. Generally, any asset price cannot move in the straight line for a longer period. It has to follow the trend rules that every rise will be followed by a corrective move or a profit booking move, Dips will provide a better opportunity to enter in market or to accumulate the equity, Going forward, The US Fed's FOMC, would command the attention of the investor,Also the investor will monitor the US-China trade talk and Brexit development.

This Weeks Market Highlights:

Benchmark Indices:

1) On Monday, last hour buying had helped Indian share market to close in the green. the Sensex up by 70.75 points at 38095.07, while Nifty grew by 35.30 points at 11462.20.

2) Among Sector compiled by NSE advanced, led by the Nifty Realty Indexs 2.8 percent gain. While, the Nifty Auto Index was the top sectoral loser, down 1.4 percent. The broader Market Update, the NSE MidCap Index was down by 0.27 percent and the NSE SmallCap Index was higher by 0.15 percent.

3) On Tuesday, the bull run continues on the Dalal Street, Indian share market indices finished higher for the 7th consecutive day. the Sensex up by 268.40 points at 38363.47, while Nifty grew by 70.20 points at 11532.40

4) Among Sector compiled by NSE advanced, led by the Nifty PSU Bank Indexs 1.87 percent rally. While, the Nifty Auto Index was the top sectoral loser, down 0.7 percent.

5) On Wednesday, Indian share market indices ended mixed after they remained range-bound throughout the session. The Sensex up by 23.28 points at 38386.75, while Nifty decline by 11.40 points at 11521.

6) Among Sector compiled by NSE advanced, led by the Nifty Realty Indexs 2.43 percent rally. While, the Nifty Media Index was the top sectoral loser, down 3.38 percent.

7) On Friday, Indian equity benchmarks opened higher and are set for their longest stretch of weekly gains in over six months.

Broader Index & Global Market:

-Globally, The us market has shown concern over the forecast of an economic slowdown by the federal reserve, However, we have seen a rally of around a percent pushed by the tech-heavy apple.

- In the broader market, The Mid-cap and Small-cap has outperformed the benchmark indices, Realty stock had witnessed a sharp upmove over the decision held on the Gst rates over the under-construction houses.

Movers & Shakers

Shares of the Godrej properties surged more than 20 percent in a week after Company has bought a 27-acre plot in New Delhis Ashok Vihar area from the Rail Land Development Authority in a deal said to be valued at Rs 1,100 crore. The deal also involves the construction of flats for the railways free of cost and the sale of 50% of the flats for economically weaker sections at market value.

Shares of the Jubilant Lifescience dropped more than 10 percent in a week after Jubilant Lifesciences Limited (JLL), an integrated global Pharmaceuticals and Life Sciences company, has announced that in Jubilant Pharma Limited (JPL), its material wholly owned subsidiary, with reference to the USFDA inspection conducted at one of manufacturing facility at Roorkee, India of solid dosage formulations during August 2018 and also the sequent intimation from the agency of classifying the facility as Official Action Indicated (OAI) in Dec 2018, the agency has further issued a Warning letter for the Roorkee facility. The USFDA may withhold approval of any new applications or supplements till the company addresses all issues raised by the agency. - Company's statement.

Key Market Drivers

• According to media sources, the Ministry of Commerce is considering a proposal to hike customs duty on raw materials (such as compressors, pre-coated steel sheet, copper tubes) used in home appliances like air conditioners, refrigerators, washing machines, and microwave ovens.
• Indias merchandise trade deficit fell to USD9.6b in Feb19 from USD12.3b in the year-ago month and an average of USD15.7b during the last six months.
• Japans exports fell for a third straight month in February, Dropped 1.2 percent year-on-year.
• As per some media reports, the price of domestic gas may go up by 18% from the current $3.36/mmbtu from April.
• Negotiators for the U.S. and China have scheduled a brand new spherical of high-level trade talks in Beijing and Washington, aiming to close a deal by late April to end the yearlong dispute between the worlds two largest economies
• As per media sources, international weather monitoring agencies have forecast >50% probability of El Nio coinciding with the Indian monsoon season 2019.
• Venezuela has suspended its oil exports to India and views Russia and China as its main export destinations, the Azeri energy ministry foresaid on the weekday, citing Venezuela's oil minister.
• All residential buildings not completed before March 31, 2019, can have a choice to settle on between the old goods and service tax (GST) and the new regime declared last month. The new regime, that provides a lower GST rate but without the input tax credit, will be mandatory for all new projects launched after April 1.

Event Watch

International:

• U.K. Gross Domestic Product (GDP) QoQ.
• U.S. Gross Domestic Product (GDP) QoQ.
• Germany Manufacturing Purchasing Managers Index (PMI).
• US-china trade talk.
• Brexit development.

Domestic:

• India Foreign Debt.
• India Infrastructure Output YoY.
• India Current Account India Federal Fiscal Deficit.

Stocks To Watch

ITC, Jubilant Foodwork On Upside while Lupin & Maruti on Downside.