Market

An evening walk down D-St: Investors book profits at higher levels; IT gains as rupee weakens S&P BSE Sensex fell by 341 points from its intraday high of 39,041 as investors preferred to book profits ahead of earnings. Valuation premium and the recent surge in crude oil prices also put investors on the sidelines. Crude oil prices are trading at a 5-month high driven upwards by OPEC’s ongoing supply cuts, US sanctions against Iran and Venezuela, fighting in Libya as well as strong US jobs data, said a Reuters report. Brent Crude has ralliedhere was a feeling among the participants that markets fell after ruling BJP released its manifesto for the general elections, but experts feel that wasn’t the case. BJP manifesto touched upon doubling farmers’ income by 2022. The government also announced pension for small and marginal farmers on reaching 60 years of age. It was largely on predicted lines. over 30 %

GLOBAL MARKETS-Investors hit pause as ECB and Brexit risks loom In a document published on the central government's website late on Sunday, Beijing said it would step up a policy of targeted cuts to banks' required reserve ratios to encourage financing for small and medium-sized businesses. exports and imports both fell more than expected in February, data showed on Monday, in the latest sign that Europe's largest economy will likely have meagre growth in the first quarter amid increased headwinds from abroad. DAX  .GDAXI  fell 0.3 percent, while traders said volumes were very low for this time of day. "Feels very much like a buyers' strike," said one dealer. Markets have had a stellar first quarter, the best in more than eight years for the MSCI All-Country World index. "Today's very minor move down has to be seen in light of recent developments," said Britta Weidenbach, head of European equities at DWS. "We're back at the le

Tech View: Nifty forms Bearish Engulfing pattern as bears gain upper hand   NEW DELHI: Nifty50 could barely hold the 11,600 level on Monday, as the index formed a Bearish Engulfing pattern on the daily chart. Analysts said that Tuesday’s trading could be crucial, as it may set the tone of market in the coming sessions.  A move below 11,550 will trigger more corrections, dragging the index towards 11,465-11,420 levels. But a trade above 11,650 may trigger short covering rally towards 11,700-11,760. For resumption of the bull trend, a close beyond 11,760 is required; otherwise bears may take control of the market and push Nifty down gradually,” said Aditya Agarwala of YES Securities. 

Mukesh Ambani sets out to change the face of Indian cities, first project already on Reliance IndustriesNSE -1.82 % is tying up the last loose ends in its blueprint for setting up a megacity in the vicinity of Mumbai, a Business Standard story has revealed  It is going to be Reliance Group's single biggest "projects within a project" initiative, where every component of a project will be a project in itself, BS quoted an inside source as saying. 

The economic news headlines would largely be dominated by growth fears and measures to revive them in FY20, the performance of asset prices would be better albeit with elevated volatility, said Vaibhav Sanghavi of Avendus Capital During this time, a lower interest rate environment along with very supportive liquidity has helped asset prices. On the back of global growth fears returning, going forward, I believe that interest rates will top out, inflation would remain benign and liquidity accommodative. Amid this, India’s growth is expected to be robust on the back of consistent consumption and revive investments. The corporate earnings outlook is much better than in the previous five years, led by banking and financials. This all augurs well for the Indian market to perform better than global peers in the next few years.

Mazhar Mohammad said for the time being, upsides shall get capped around 11,760 where a potential double top can be expected if bulls are unable to breach the said level in next couple of trading sessions Nifty50 made its new high of 11,761 on April 3 morning, but wiped out all gains in last hour of trade. Traders turned cautious after Skymet forecast below normal monsoon. Market participants are also eyeing RBI interest rate decision due April 4. The index closed below 11,700 and formed 'Bearish Engulfing' pattern after two Doji candles on daily scale. A Bearish Engulfing Pattern consists of two candles. One candle is usually a small candle which is followed by a large black or red candlestick pattern that engulfs the short one or the previous candle. A bearish candlestick pattern suggests that bears were able to regain control. It is usually seen as the end of an uptrend but if index breaks below its crucial support level of 11,550, selling pressure could acc