March Quarter Results, Rising Crude Oil Prices, And Top Cues In Focus Today

On Friday, share markets in India traded on a positive note throughout the day and ended above the 39,000-mark.

The BSE Sensex closed higher by 623 points to end the day at 39,435. L&T and ICICI Bank were among the top gainers.

While the broader NSE Nifty ended up by 187 points to end at 11,844.

Among BSE sectoral indices, realty stocks gained the most by 4.2%, followed by capital goods stocks and telecom stocks.

Top Stocks in Action Today

DLF share price will be in focus today as the company is targeting a 10% increase in sales bookings for FY20 at around Rs 27 billion, on hopes of an increase in housing demand.

Coal India share price will also be in focus today as its subsidiary - Northern Coalfields has reportedly inaugurated a new wharf-wall at MGR route line of company's Nigahi coal producing area to reduce coal transportation by road.

State Bank of India (SBI) share price and National Bank for Agriculture and Rural Development (NABARD) have reportedly joined hands, by signing a Memorandum of Understanding (MoU) for formation and credit linkage of 1,300 joint liability groups.

Results Corner

Market participants will track Adani Ports share price, BHEL share price, and InterGlobe aviation share price as these companies are set to announce their March quarter (Q4FY19) results today.

You can also read our recently released Q4FY19 Results: Bajaj Auto, PI Industries, IndusInd Bank, Bosch.

Revival Plan for Jet

Top executives from Hinduja group and Etihad met last week in Abu Dhabi to work out a deal. Reports state that no decision was taken regarding the partnership.

As per a leading financial daily, negotiations between Etihad Airways and Hinduja group regarding the joint ownership of Jet Airways hit a dead end.

Here's an excerpt from the article:

  • The Hinduja Group is uncertain about making any investment in Jet. Initial talks are still underway. It is unlikely that they will translate into an investment.
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Disclaimer: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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Moon Kil Woong 2 months ago Contributor's comment

I wonder how much the jump in US oil reserves is do to speculators seeking to hold more oil in expectation or hedging against a potential mid-East war. Demand and supply outside of the US seems pretty normal.

Barry Hochhauser 2 months ago Member's comment

Excellent point I hadn't thought of, Moon Kil Woong.