Closing Bell: Sensex ends lower on Skymet's monsoon warning, Nifty below 11,650; PSU banks top laggards##Closing Bell: Sensex ends lower on Skymet's monsoon warning, Nifty below 11,650; PSU banks top laggards

Indian indices ended lower on Wednesday, snapping a four-day rally, after Skymet's warning of 'below-normal' monsoon dampened prospects of higher farm and economic growth in the country. During the day, the indices hit their all-time high levels as upbeat global factors boosetd sentiment ahead of a RBI policy meeting outcome later this week.

The S&P BSE Sensex ended at 38,877, down 179 points, While the broader NSE Nifty50 settled at 11,643, slipping 69 points. Meanwhile, broader markets underperformed the frontline indices with both Nifty MidCap and Nifty SmallCap indices declining over 1 percent each. Indiabulls Housing Finance, Maruti Suzuki, Bajaj Finserv, HDFC, and HCL Tech were top gainers on Nifty50, while BPCL, IOC, Zee, GAIL, and SBI fell the most.

Nifty Bank ended in red after hitting a new record high for a second straight session in intra-day deals. Nifty PSU Bank index also slipped over 2.5 percent dragged by Syndicate Bank, Punjab National Bank, Allahabad Bank, Canara Bank and SBI, down in the range of 2-4.5 percent. Oil marketers Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp fell between 2.9 percent and 5 percent after Brent futures hit near five-month highs. The index was down 1.5 percent.

Apr 3, 2019 3:35 PM

Top laggards on the Nifty PSU Bank index##Top laggards on the Nifty PSU Bank index

Apr 3, 2019 3:40 PM

Sectoral Trend: All sectoral indices end in red; Nifty PSU Bank index down 2.7%##Sectoral Trend: All sectoral indices end in red; Nifty PSU Bank index down 2.7%

Apr 3, 2019 3:38 PM

Nifty gainers and losers: Indiabulls Housing rallies 3.5%, BPCL falls 4.6%##Nifty gainers and losers: Indiabulls Housing rallies 3.5%, BPCL falls 4.6%

Apr 3, 2019 3:37 PM

India monsoon rains seen below normal this year, says Skymet##India monsoon rains seen below normal this year, says Skymet

Monsoon rains in India are expected to be below normal this year, the country's only private weather forecasting agency said on Wednesday, dampening prospects of higher farm and economic growth in the $2.6 trillion economy.

"The Pacific Ocean has become strongly warmer than average. The model projections call for 80 percent chance of El Nino during March-May, dropping to 60 percent for June to August," Jatin Singh, managing director of Skymet, told reporters. READ MORE

Apr 3, 2019 3:27 PM

RBI far more dovish than it was 3 months ago, says Adrian Mowat##RBI far more dovish than it was 3 months ago, says Adrian Mowat

Adrian Mowat, the EM equity strategist, spoke to CNBC-TV18 about the global markets and his expectations from the Reserve Bank of India's monetary policy review tomorrow. "There is a global macro equity story playing out currently," Mowat said on Wednesday.

According to Mowat, there has been a profound change in central bank policies around the world. "The RBI is far more dovish than it was even 3 months ago. We expect more dovish commentary from central banks across the globe," said Mowat. Watch full interview here

Apr 3, 2019 3:13 PM

RBI may cut rates by 25 basis points on April 4: CNBC-TV18 poll

All the respondents to CNBC-TV18's poll expect a 25 basis points rate cut from the monetary policy committee in its first bi-monthly policy.Get latest Economy online at cnbctv18.com

Apr 3, 2019 3:00 PM

Nifty Realty advances 21% in one month, best sectoral performer on NSE##Nifty Realty advances 21% in one month, best sectoral performer on NSE

The Nifty Realty index has outperformed other NSE peers in March. The real estate index has gained about 21 percent since March 1, with Godrej Properties leading the gains. The best performing stock of Nifty Realty has been Godrej Properties, which surpassed its all-time high of Rs 935 per share. The stock in past one month has risen over 31 percent after it delivered strong quarterly sales in Q4FY19. READ MORE

Apr 3, 2019 2:44 PM

Here's why market expert Saurabh Mukherjea is bullish on Asian Paints##Here's why market expert Saurabh Mukherjea is bullish on Asian Paints

Saurabh Mukherjea, the founder of Marcellus Investment Managers, is of the view that it is not very easy to make money around events like general elections.

“I am not so convinced about is the merits of buying the Nifty. In the last 5-10 years, buying the Nifty has not been a clever idea because you have not got returns commensurate to the cost of capital,” Mukherjea said on Wednesday.

"However, one can look at buying high-quality franchises like Marico, HDFC bank that have consistently given healthy returns," said Mukherjea. READ MORE

Apr 3, 2019 2:28 PM

Indices pare gains as stocks go under pressure on Skymet's alarm for this year's 'below normal' monsoon##Indices pare gains as stocks go under pressure on Skymet's alarm for this year's 'below normal' monsoon

Apr 3, 2019 2:15 PM

Skymet Weather voices concern around the upcoming monsoon, says there is a 55% chance of below normal monsoon in 2019##Skymet Weather voices concern around the upcoming monsoon, says there is a 55% chance of below normal monsoon in 2019

Apr 3, 2019 1:58 PM

Metropolis Healthcare IPO: Here's what analysts recommend

The Rs 1,204-crore initial public offering (IPO) of Metropolis Healthcare opened for subscription on Wednesday. The price band for the offer has been fixed at Rs 877-880.

Apr 3, 2019 1:45 PM

Polycab India to raise around Rs 1,345 crore through IPO##Polycab India to raise around Rs 1,345 crore through IPO

Polycab India plans to raise around Rs 1,345 crore through a mix of fresh issue of equity shares and an offer for sale, which will be launched on April 5.

The issue, which includes Rs 400 crore of fresh issue and an offer for sale (OFS) of 17,582,000 shares of face value of Rs 10 a piece, will close on April 9. The price band of the issue is fixed at Rs 533-538 per equity share. The offer includes a reservation of up to 175,000 equity shares for employees.

"We plan to utilise the proceeds of the issue for partially retire our debts as well as for meeting our working capital requirements," its deputy chief financial officer Gandharv Tongia told PTI. READ MORE

Apr 3, 2019 1:30 PM

Market Check: Sensex trades below all-time high, up 150 points##Market Check: Sensex trades below all-time high, up 150 points

Apr 3, 2019 1:15 PM

Top stocks that boosted Nifty's record run##Top stocks that boosted Nifty's record run

The Nifty 50 index surged to a fresh record high on Wednesday, on the back of sustained overseas inflows amid hints of dovish central bank policy. The 50-share NSE index rose 47.8 points to a record high of 11,761, surpassing its previous high of 11,760.20, hit in August 2018.

So far in 2019, the NSE index has advanced 880 points to reach the new high, led by oil-to-telecoms conglomerate Reliance Industries Ltd (RIL), which contributed 237.654 points, or 26 percent, to the Nifty 50 gains.

After RIL, HDFC Bank and Infosys were among the top contributors to the index, accounting for around 100 points each. Axis Bank, ICICI Bank, Tata Consultancy Services, Yes Bank, ITC, SBI and Kotak Bank added between 31 to 65 points.

Read Prashant Nair's analysis here

Apr 3, 2019 1:00 PM

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