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Benchmark indices ended higher but off day's high on the back of last hour selling pressure on first day of the financial year 2020. The Sensex touched a record high of 39,115.57 during the day, while Nifty also closed above 11,650 level.
The Sensex rose 164.27 points at 38,837.18, while Nifty was up 31.70 points at 11,655.60. About 1685 shares have advanced, 918 shares declined, and 145 shares are unchanged.
Tata Motors, Hindalco Industries, Wipro, Bharti Airtel and Maruti Suzuki were the top gainers on the Nifty, while Zee Entertainment, UPL, IOC, Eicher Motors and IndusInd Bank were among major losers.
Among sectoral indices, except bank and FMCG all other indices ended in green led by metal, IT, infra, auto and pharma.
HEADLINES OF THE DAY
Lupin launches Tadalafil tablets: The company announced the launch of Tadalafil tablets USP, 2.5 mg, 5 mg, 10 mg, and 20 mg, having received an approval from the United States Food and Drug Administration (FDA) earlier.
Muthoot Capital Services has completed a securitization transaction of Rs 62.11 crore on March 30, 2019.
Eicher Motors sales number: The company's total March 2019 CV sales at 8,676 units, down 7.6 percent against 9,411 units, YoY.
RBI To Cut Repo Rate:
"With the subdued growth outlook (GDP Q3FY19, guidance for GDP Q4FY19 and FY19, IIP since Nov-18) and moderate inflation (both CPI and WPI). The RBI does not seem to have any major reason not to cut the policy rate again during its next meeting. I think that the relevant question is whether the bank would cut the rate by more than 25 bps," Sujan Hajra, Chief Economist and Executive Director at Anand Rathi Shares & Stock Brokers said.
Hinduja Group flagship firm Ashok Leyland reported a 4 percent decline in total sales at 21,535 units in March this year as against 22,453 units during the same month of the previous year.
Escorts shares declined 1.4 percent intraday after its sales volume in March missed analyst expectations due to subdued domestic performance.
The crucial resistance for Nifty spot is now seen at 10720 and above this 10920 Support for the immediate term is now placed at 10480 next support will be 10370.
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