Nifty ends March series above 11,550, Sensex up 412 points; PSU banks outperform

CNBC

Market Close: Bulls took control on Dalal Street and pushed the Nifty above 11,550 on the March expiry day.

The Sensex was up 412.84 points at 38,545.72, while Nifty is up 136.50 points at 11,581.50. About 1633 shares have advanced, 979 shares declined, and 165 shares are unchanged. 
Indiabulls Housing, Zee Entertainment, HCL Tech, Adani Ports and SBI were the top gainers on the Nifty, while losers include ONGC, Tata Steel, Hindalco Industries, Dr Reddy’s Labs and Bajaj Auto.
Except metal all other sectoral indices ended in green led by PSU bank, IT, infra, FMCG, auto, energy and pharma.
Ruby Mills workers called off illegal strike: After discussion with the workers and convincing them about the illegality of the strike, the workers of the Processing Plant of the company at Kharsundi have agreed to withdraw the strike and have called off their illegal strike today i.e. 28th March, 2019 and normal operations of the plant have resumed since the first shift.
Cox & Kings signs contract with Buhlmann Immobilien: Cox & Kings owned Meininger Hotels in co-operation with the property developer Buhlmann Immobilien will build a new hotel with 126 rooms or 378 beds at the main station next to the new FBT. 
Market Update: The benchmark indices are trading at day's high level ahead of March F&O expiry.
At 14:25 hrs IST, the Sensex is up 400.92 points at 38533.80, while Nifty is up 116.80 points at 11561.80. About 1529 shares have advanced, 874 shares declined, and 114 shares are unchanged.   
Crude Update: Oil prices dropped on Thursday, extending losses into a second consecutive session, following a surprise build in US crude inventories. 
Rupee Update: The Indian rupee is trading marginally lower at 68.93 per dollar on Thursday versus previous close 68.87.  
M&M raises prices: Mahindra & Mahindra has said it is going to raise the prices of its range of personal and commercial vehicles, effective April 1.The prices will increase by 0.5-2.7 percent, resulting in an increase of Rs 5,000-Rs 73,000, across its models.  
L&T bags order: The Construction arm of L&T has secured orders from prestigious clients across different states in India in the range of Rs 1,000 to 2,500 crore.
Unichem Laboratories gains 3%: Shares of Unichem Laboratories rallied 3 percent after company received final approval for its ANDA, Tadalafil tablets from the United States Food and Drug Administration (USFDA) for a generic version of Eli Lilly’s Cialis.  
Tata Global Beverage: Board announced re-appointment of Ajoy Kumar Misra as the Managing Director and CEO of the company for a period of 1 year.
Market Opens: It is good start for the Indian indices on Thursday with Nifty above 11,450 level.
At 09:17 hrs IST, the Sensex is up 36.12 points or 0.09% at 38169, and the Nifty up 10.50 points or 0.09% at 11455.50. About 510 shares have advanced, 281 shares declined, and 31 shares are unchanged. 
Zee Ent, HCL Tech, Tech Mahindra, Infosys, Indiabulls Housing, Yes Bank, HPCL, BPCL, IOC, GAIL, Eicher Motors are among major gainers, while losers are Tata Motors, ONGC, JSW Steel, IndusInd Bank, Power Grid, Cipla, HDFC Bank and Tata Steel.
Except metal, auto and pharma, all other sectoral indices are trading with marginal gain.
Market at pre-open: Benchmark indices are trading higher in the pre-opening trade on Thursday.
At 09:03 hrs IST, the Sensex is up 66.14 points or 0.17% at 38199.02, and the Nifty up 13.50 points or 0.12% at 11458.50.
Infosys, TCS, Hexaware, HCL Tech are trading higher in the pre-opening session.
Asian markets trade lower: Asian share markets were painted red on Thursday as recession concerns sent bond yields spiralling lower across the globe, overwhelming central bank efforts to calm frayed nerves.
Crude Update: Oil prices fell on Thursday, extending losses into a second straight session, after widely watched data showed a surprising increase in US stocks.
Wall Street ends lower: US stocks eased on Wednesday as Treasury bond yields fell again and a prolonged inversion in the yield curve fanned fears of a US economic slowdown.