Sensex, Nifty end at record closing high on exit polls verdict; PSU banks outperform

CNBC

Market Close: Exit polls have predicted a comfortable victory for the BJP-led NDA, which helped the benchmark indices end at a record closing high. Both the indices posted a biggest single session gain since 2009.

At close, the Sensex was up 1,421.90 points or 3.75% at 39352.67, while Nifty was up 421.10 points or 3.69% at 11828.30. About 2013 shares have advanced, 613 shares declined, and 155 shares are unchanged. 
Indiabulls Housing, IndusInd Bank, Adani Ports, SBI and Tata Motors were among major gainers on the Nifty, while losers were Dr Reddy’s Labs, Zee Entertainment, Bajaj Auto, Tech Mahindra and Infosys.
All the sectoral indices ended in green led by PSU banks, infra, auto, energy, FMCG, metal and pharma.
Market Update: The benchmark indices are trading strong in the afternoon trade with Nifty inching towards the all-time high.
The Sensex is up 1,304.59 points or 3.44% at 39235.36, and the Nifty up 383.30 points or 3.36% at 11790.50. About 1895 shares have advanced, 591 shares declined, and 133 shares are unchanged.
Nifty Bank has touched its all-time high 30,779.90. 
Buzzing: Inox Wind rose 6 percent on Monday after company minimise its losses in the Q4FY19 with a net loss at Rs 53.6 crore versus loss of Rs 55.7 crore, while revenue was down 11.7% at Rs 179.6 crore versus Rs 203.4 crore, YoY. 
Market Update: Benchmark indices extended the gains with Nifty reclaimed 11,700 and Sensex trading above 38,900 level
At 11:54 hrs IST, the Sensex is up 1,029.60 points or 2.71% at 38960.37, and the Nifty up 302.20 points or 2.65% at 11709.40. About 1743 shares have advanced, 481 shares declined, and 113 shares are unchanged.   
Buzzing: Shares of A2Z Infra Engineering locked at 10 percent upper circuit on Monday after company made one-time settelment with SBI and other financial institutions.
Gold Update: Gold steadied on Monday, trading near a two-week low hit in the previous session, as strong US economic data underpinned the dollar amid geopolitical as well as trade tensions.
Buzzing: Shares of Welspun Enterprises rose 10 percent intraday Monday after it received provisional completion certificate for commencing commercial operation of the Dewas Industrial Water Supply Project w.e.f. April 30, 2019.  
Market Update: The benchmark indices are trading near day's high level on Monday with Sensex up around 900 points.
At 10:07 hrs IST, the Sensex is up 896.45 points or 2.36% at 38827.22, while Nifty is up 265.80 points or 2.33% at 11673. About 1529 shares have advanced, 304 shares declined, and 73 shares are unchanged. 
Crude Update: Oil rose to multi-week highs on Monday after OPEC indicated it will likely maintain production cuts that have helped support prices this year, while tensions continued to escalate in the Middle East.
Market Opens: The benchmark indices opened gap-up after Exit Polls for the Lok Sabha Election 2019 projected a BJP led NDA to register a comfortable victory.
At 09:18 hrs IST, the Sensex is up 811 points or 2.14% at 38741.77, while Nifty is up 242.10 points or 2.12% at 11649.30.  About 952 shares have advanced, 100 shares declined, and 34 shares are unchanged. 
Yes Bank, M&M, IndusInd Bank, L&T, Bajaj Finance, Adani Enetrprises, HPCL, BPCL, Tata Motors, ICICI Bank, HDFC Bank and Sobha are among major gainers on the indices, while losers include Jubilant Life, Infosys and Tech Mahindra.
Except IT, all the sectoral indices are trading in green led by bank, auto, energy, infra and FMCG
Rupee Opens: The Indian rupee gained in the early trade on Monday. It opened higher by 73 paise at 69.49 per dollar on Monday versus previous close 70.22.
Market Opens: Benchmark indices are trading higher in the pre-opening session with Nifty around 11,700.
At 09:01 hrs IST, the Sensex is up 558.40 points or 1.47% at 38489.17, and the Nifty up 281.60 points or 2.47% at 11688.80.
US markets end lower on Friday: Wall Street ended lower on Friday as continuing trade tensions pulled industrial and tech shares down, and the Dow capped a fourth straight week of losses in its longest weekly losing streak in three years.
Nomura on Bajaj Auto
Maintain neutral call, target raised to Rs 2,901 from 2,823 
Factor in volume growth of 4%/-3% in domestic 2-wheelers over FY20-21
CLSA on Bajaj Auto
Sell call, target raised to Rs 2,275 from Rs 2,225 per share
India 2-wheelers under pressure; growth moderating in 3Ws/exports
Kotak Institutional Equities on Bajaj Auto
Maintain reduce, target raised to Rs 2,700 from Rs 2,400 per share
EBITDA of Rs 1,160 cr in-line with estimates
CLSA on CESC
Maintain buy rating, target at Rs 880 per share
Subsidiaries drive consolidated PAT up 34% YoY in FY19
CLSA on Dr Reddy's
Maintain buy, target raised to Rs 3,330 from Rs 3,200 per share
In-line results ex-one-time gain
Asian markets trade higher: Share markets in Asia got off to a steady start on Monday as investors tried to catch their breath following another week of escalating trade tensions between the United States and China.
SGX Nifty: Trends on SGX Nifty indicate a gap up opening for the broader index in India, a gain of 261 points or 2.28 percent. Nifty futures were trading around 11,695-level on the Singaporean Exchange.