Sensex settles at record high above 39\,000

Sensex settles at record high above 39,000

Capital Market 

Domestic stocks settled higher for the fourth straight trading session. Stocks staged a late-afternoon rally on buying demand in index pivotals. The Sensex hit record high on intraday and closing basis and ended above the 39,000 mark. The Nifty ended above the 11,700 mark.

The barometer index, the S&P BSE Sensex, rose 184.78 points or 0.48% to 39,056.65, its record closing high. The index hit a record high of 39,121.69 in intraday trade. The index hit low of 38,846.96 in intraday trade.

The index rose 44.05 points or 0.38% to 11,713.20. The index hit high of 11,729.35 and low of 11,655.85 in intraday trade.

Broader market declined. Among secondary barometers, the BSE Mid-Cap index fell 0.04%. The BSE Small-Cap index fell 0.18%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1207 shares rose and 1343 shares fell. A total of 166 shares were unchanged.

Among the sectoral indices on BSE, the (up 2.66%), the index (up 1.54%) and the S&P BSE Auto index (up 0.94%) outperformed the Sensex. The S&P BSE Oil & Gas index (down 0.61%), the (down 0.52%), the (down 0.46%) underperformed the Sensex.

(up 5.08%), (up 2.37%), (up 2.25%), Power Grid Corporation of (up 2.12%) and IndusInd (up 1.95%) edged higher from the Sensex pack.

(down 1.92%), (down 0.71%) and (down 0.67%) edged lower from the Sensex pack.

rose 8.36% after the company declared sales volume data for March 2019 after market hours yesterday, 1 April 2019. Commercial and Passenger Vehicles Business sales in the domestic market for FY19 (April 2018 - March 2019), grew by 16% with 678,486 units as compared to 586,507 units over the same period Last year. In March 2019, the company witnessed its sales drop by 1% to 68,709 units as against 69,409 units sold in March 2018, as weak consumer sentiments continued.

The company's sales from exports (CV and PV) in March 2019 was at 5,952 units, lower by 11% over last year, due to new regulations and political uncertainty in and slump in affecting the overall Industry volumes in these markets.

Maruti Suzuki rose 0.58%. The company has announced a price increase upto Rs 689 (Ex- Showroom - Delhi) across models on account of regulatory compliances. The new prices are effective from 1 April 2019. The announcement was made after market hours yesterday, 1 April 2019.

advanced 1.91%. The company's total sales fell 20% at 60,831 units in March 2019 over March 2018. The announcement was made after market hours yesterday, 1 April 2019.

fell 2.14%. The company reported 18% growth in its total vehicles sales to 3.93 lakh units in March 2019 over March 2018. Total domestic sales rose 27% to 2.59 lakh units, while total exports rose 3% to 1.34 lakh units in January 2019 over January 2018. The announcement was made during market hours today, 2 April 2019.

rose 1.4%. The company announced during trading hours today, 2 April 2019, that the receipt of the Establishment Inspection Report (EIR) for its Pithampur (Unit-3) facility. The inspection was conducted between October 8, 2018 to October 18, 2018. Lupin's Pithampur Unit-3 is involved in the manufacture of Metered Dose Inhalers (MDis), Dry Powder Inhalers (DPis) and Topical Formulations for the regulated markets.

With reference to the media report, "Aurobindo Pharma, recall in US market", clarified during trading hours today, 2 April 2019, that product recalls are akin to sales returns, wherein the company voluntarily recalls its products from the market. The matter involving recall of 3,200 bottles of Testosterone Topical Solution, was classified as Class recall by the USFDA, which is initiated in a situation in which use of, or exposure to, a product is not likely to cause adverse health consequences. Lupin added that product recalls are common across the globe.

fell 0.04%. The company's wholly owned subsidiary in USA i.e. Technologies LLC, has signed a binding term sheet with Pulmatrix Inc., ("Pulmatrix") for an investment in Phase 2 ready asset co-development and licensing opportunity for Pulmazole (Inhaled ltraconazole) for an upfront consideration of USD 22 million. Entry into a definitive agreement is contingent upon Pulmatrix raising additional funds from the market. Upon signing the definitive agreement, the co-development cost towards development and the total free cash flow in relation to commercialization of Pulmazole will be further shared by both the parties in a phased manner. The announcement was made after market hours yesterday, 1 April 2019.

surged 9.61% after the company said it has sold over 2,900 homes with a booking value in excess of Rs 2100 crore in Q4 FY19. The announcement was made after market hours yesterday, 1 April 2019.

announced that it has achieved its highest ever bookings numbers in Q4 FY19. The company sold over 2,900 homes with a total area of approximately 3.75 million sq. ft. and a booking value in excess of Rs 2100 crore during the quarter. This record performance was achieved through the launch of four new projects combined with very strong sales from existing inventory.

rose 1.22%. The company registered sales of 325,345 units in March 2019 as against 326,667 units in March 2018. The announcement was made after market hours yesterday, 1 April 2019.

Meanwhile, India's reportedly dismissed a Reserve of (RBI) circular that gave firms 180 days for debt resolution, failing which the issue would be taken under the country's bankruptcy. Several companies, especially power firms, had sought intervention of the saying the time given by the central was not enough time to tackle the debt issue, reports added.

On the economic front, the Nikkei India Manufacturing Purchasing Managers' Index (PMI) eased to a six-month low of 52.60 in March compared with 54.30 in February. The latest figure highlighted a loss of growth momentum. Consumer goods was the brightest spot in March, followed by the intermediate and then investment goods categories. The data was announced during trading hours today, 2 April 2019.

The output of eight core industries, comprising 40.27% of the weight of items included in the Index of Industrial Production (IIP), rose 2.1% in February 2019. The cumulative output has improved 4.3% in April to February 2018-19.

Overseas, shares in and edged higher Tuesday, after stronger-than-anticipated factory activity surveys from the US and eased concerns over the global economy.

US stocks ended higher Monday, boosted by better-than-expected economic reports, momentarily allaying fears of flagging economic growth.

Investors were also hopeful for a resolution to the US-trade conflict, with a Chinese delegation led by set to visit later this week.

On Monday, the Institute for Supply Management's showed that activity in the sector accelerated, coming in at a stronger-than-expected 55.3 in March versus a two-year low of 54.2% a month earlier. A reading above 50 indicates an expansion in activity.

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First Published: Tue, April 02 2019. 16:51 IST