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Equity benchmarks maintained early gains with the Sensex rising over 150 points, led by oil, auto, infra, technology and select FMCG stocks. The broader markets also gained, rising 0.4 percent. The 30-share BSE Sensex climbed 154.47 points to 25807.70 and the 50-share NSE Nifty advanced 46.45 points to 7907.20. The market breadth remained positive as about two shares advanced for every share declining on Bombay Stock Exchange.

Sun TV shares jumped as much as 9.5 per cent on Tuesday after exit poll results predicted a victory for opposition DMK in Tamil Nadu. Chennai-based Sun TV is owned by Kalanithi Maran, the grandnephew of DMK President M Karunanidhi.

Mallya PMLA case: ED to attach India assets worth Rs 9,000 cr

The ED is mulling attaching domestic assets and shares worth about Rs 9,000 crore owned by liquor baron Vijay Mallya in connection with its money laundering probe against him and others in the IDBI Bank loan fraud case. Officials said today the agency has already begun the exercise of identifying and valuing the country-wide immovable assets of the beleaguered businessman in order to place them under attachment under the criminal provisions of the Prevention of Money Laundering Act (PMLA). They said the agency will also inform market regulator Securities and Exchange Board of India (SEBI) about its move to similarly attach his shares in various Indian companies so that no third party rights are created.

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Market Ups-Down Analysis and Conditions

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The S&P BSE Sensex rallied over 200 points in morning trade on Thursday led by gains in ICICI Bank, Axis Bank, L&T, SBI, and Asian Paints. The Nifty50 reclaimed its crucial psychological level of 7,900 supported by gains in consumer durable, capital goods, banks, auto, realty, and metal stocks.

Indian banking stocks rise, with the S&P BSE Bankex index jumping nearly 1 pct.India's upper house of parliament passed a new bankruptcy code on Wednesday.Code to address bank debts and improve ease of doing business in India.Bankex index has the highest weightage on benchmark BSE index, which is up 0.5 pctState Bank of India up 1.1 pct, ICICI Bank gains 2.5 pct, while Punjab National Bank rises 0.7 pct.

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Dragged by weak global cues, the market has opened weak on Friday. The Sensex is down 160.06 points or 0.6 percent at 25102.15, and the Nifty is down 38.55 points or 0.5 percent at 7696.95. About 243 shares have advanced, 435 shares declined, and 35 shares are unchanged. ITC tanks over 3 percent while Dr Reddy's Labs, TCS, Hero MotoCorp and Tata Steel are losers while HDFC, Bharti Airtel and Wipro are gainers in the Sensex.

All sectoral indices on the Bombay Stock Exchange traded in the red, though the FMCG sub-index underperformed, falling over 1 per cent.Tobacco major ITC, which has the second largest weightage in the Nifty, fell over 3 per cent. ITC - India's biggest cigarette maker - has shut its plants from May 4 to comply with a new pictorial warnings rule issued by the government.

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The benchmark equity indices resumed their downward journey on Friday, after snapping a three-day losing streak in the previous session, as weak cues from Asian markets weighed on sentiments.The S&P BSE index was down 145 points, or 0.6 per cent, at 25,116.95. NSE barometer Nifty50 fell about 40 points and was quoting below its psychological level of 7,700. 

Idea Cellular, India's third largest telecom company, falls as much as 2.3 pct.Idea may spend $1.3 bln in adding data spectrum in upcoming auction around July, the Economic Times reported, citing a note from HSBC .Rival Bharti Airtel may selectively buy 4G airwaves in coveted 700 Mhz band in a few circles.

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The S&P BSE Sensex started on a cautious note with a negative bias on Friday led by losses in Infosys, Bharti Airtel, Sun Pharma, Axis Bank, and State Bank of India.The Nifty50 slipped below its crucial psychological support level of 7,900 weighed down by losses in power, consumer durables, capital goods, banks, auto, and auto stocks.

IndusInd Bank gains as much as 2 pct, recovers from Thursday's fall.Initial concerns about rise in NPAs, provisioning send shares down 1 pct on Thursday but analysts broadly positive on results.The lender's Q4 profit rose 25.3 pct, with loan growth at 29 pct, from previous year.HSBC raises price target to 1,176 rupees from 1,142 rupees, keeps "buy" rating.Despite poor asset quality trends in the sector, the bank's asset quality has held up quite well, says HSBC.

Equitas Holdings debuts at Rs 146, up 33% from issue price

Equitas Holdings   debuted at the exchanges at Rs 146.53 per share, up 33 percent from issue price of Rs 110. The IPO was opened from April 5-7, at a price band of Rs 109-110 per share. Subscribed over 17 times, the company's IPO raised about Rs 2,200 crore. The offer comprised fresh issue of shares aggregating Rs 720 crore and an offer for sale of up to 1,32,425,884 shares by existing shareholders, including P N Vasudevan, MD, and private equity stakeholders. The company has already mopped up Rs 652 crore from anchor investors.

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IndusInd Bank Q4 net up 25% at Rs 620 cr; Asset Quality Falls

IndusInd Bank's net profit rose 25 percent to Rs 620 crore in the January-March quarter from Rs 495.3 crore in year-ago period. During the period, its net interest income (NII) increased 37 percent to Rs 1268.2 crore from Rs 925.1 crore on annual basis. According to a CNBC-TV18 poll, the private sector lender was expected to report profit up 27 percent year-on-year at Rs 629.2 crore. Net interest income is seen going up 33 percent to Rs 1,230.6 crore in Q4. Its asset quality fell in Q4, with gross non-performing assets at 0.87 percent versus 0.82 percent and net NPA at 0.36 percent versus 0.33 percent (QoQ). Its provisions, in Q4, was at Rs 213.6 crore against Rs 177 crore

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The market has opened strong riding high on global markets. The Sensex is up 121.41 points or 0.5 percent at 25965.59, and the Nifty is up 41.60 points or 0.5 percent at 7956.35. The 50-share index is at 2016 high, crossing January 1 high 7972. About 401 shares have advanced, 77 shares declined, and 22 shares are unchanged. ICICI Bank is up 6 percent while SBI, Tata Steel, Axis Bank and GAIL are top gainers. Wipro falls 5 percent.

Private sector lender ICICI Bank jumped over 7 per cent to top the Nifty50 index, after Credit Suisse upgraded the stock to outperform. Recognition of bad loans and the moderation in steel sector stress (to which ICICI Bank has significant exposure) will aid ICICI Bank's re-rating, the investment bank said.

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The S&P BSE Sensex surged over 200 points in morning trade on Thursday, to reclaim its crucial psychological level of 26000, led by gains in ICICI Bank, SBI, HDFC, Axis Bank and Tata Motors.The Nifty50 reclaimed its crucial psychological level of 7,950 and was trading just below its crucial level of 8000 supported by gains in realty, consumer durable, metal, oil & gas, and banks, and auto stocks. 

IT services firm Wipro falls as much as 6.3 pct, its biggest intra-day pct fall in eight months.Reports on Wednesday a fall of 1.6 pct in Jan-March net profit at 22.35 bln rupees, missing analysts' estimates.Performance was weak due to continued challenges in select financial services accounts and weak energy and utilities vertical - Kotak Securities

Equity, mid, small-cap outperform benchmark indices over 5 yrs

Majority of equity linked savings schemes as well as mid and small-cap funds outperformed their respective benchmark indices over a five-year period ended December 2015, show data from SPIVA India scorecard. However, majority of large-cap equity funds lagged BSE 100 Index over the same period, the S&P Indices Versus Active Funds (SPIVA) scorecard, which tracks performance of actively managed mutual funds against their benchmarks said.

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HDFC shares climb 3% as subsidiary kicks off IPO process

Shares of HDFC   Ltd rose by nearly 3 percent today after its subsidiary HDFC Standard Life announced plans to launch its initial public offer in which the company would sell 10 percent stake. After a positive opening, the stock further gained 2.76 percent to Rs 1,158.50 on BSE. On NSE, shares of the company climbed 2.31 percent to Rs 1,158.65. The first life insurer in the country to initiate an IPO process, HDFC Standard Life yesterday disclosed plans to launch the share sale. While financial details are yet to be worked out, the IPO could be worth at least about Rs 2,000 crore, going by the valuation derived by the private insurer under its earlier off-market stake sale transactions. In a regulatory filing, Housing Development Finance Corporation (HDFC) said the board of directors of its non-listed subsidiary, HDFC Standard Life Insurance Company (HDFC Life), has approved steps to initiate the process. The IPO will be by way of an offer for sale by HDFC Ltd of up to 10 percent of its stake in the insurance company. In a separate filing, HDFC said it has "in-principle" agreed to sell up to 10 percent stake held in HDFC Standard Life Insurance Company. The IPO is subject to various regulatory approvals, including by regulators Irdai and Sebi.

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The S&P BSE Sensex pared gains after rallying over 100 points in morning trade on Wednesday led by gains in HDFC, ITC, HDFC Bank, L&T, and Tata Steel.The Nifty50 was trading comfortably above its crucial level of 7,900 supported by gains in power, oil & gas, metal, consumer durable, capital goods, and banking stocks. 

India's stock, debt, and currency markets will be closed on Tuesday for a domestic holiday. Trading will resume on Wednesday.The broader NSE index rose 0.82 percent to end at 7,914.70, while the benchmark BSE index gained 0.74 percent to close at 25,816.36 on Monday.

March trade deficit narrows MoM to $5.07 bn vs $6.54 bn

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India’s trade deficit or the gap between merchandise imports and exports touched a 5-year low to come in at USD 5.07 billion in March from February’s USD 6.54 billion. On year-on-year basis, the deficit was down to USD 118.46 billion from USD 137.69 billion. A sharper rise in exports, which expanded month-on-month (MoM) to USD 22.7 billion from USD 20.7 billion aided in narrowing the deficit even while imports too widened marginally to USD 27.79 billion from USD 27.28 billion.  Oil imports were only a tad higher MoM at USD 4.8 billion, but a major jump was seen in silver imports to USD 210.9 million compared to USD 50.61 million in February.

Good monsoon to send encouraging signals for inflation, growth

The above normal monsoon forecast by Met department is likely to bring encouraging signals for the Indian economy both in terms of inflation and growth prospects, says an SBI Research report. According to the research report, after two successive years of drought, the prediction of above normal monsoon will bring cheers to every sphere of the economy. "As agriculture in India depends heavily on monsoons and given its contribution to Gross value added (GVA) growth is around 15 percent, the above normal monsoons will surely have a positive impact on agriculture, thereby boosting economic growth," the report said.

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The market has opened sharply higher on Monday with the Sensex rising more than 200 points following Infosys' Q4 earnings but could not sustain gains for long due to weakness in global peers. The Sensex rose 10.39 points to 25637.14 while the Nifty fell 6.15 points to 7844.30.

Infosys shares jumped nearly 8 per cent to their 52-week high on Monday after India's second biggest outsourcer forecast stronger-than-expected revenue for the current financial year.Infosys said its 2016-17 financial year constant currency revenue is likely to grow between 11.5 to 13.5 per cent, higher than industry average of 10-12 per cent.

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Infosys Q4 net up 3.8%, FY17 $ revenue growth seen at 11.8-13.

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IT software major Infosys' fourth quarter profit and operating profit margin beat analysts' expectations on Friday but revenue matched estimates. Profit grew by 3.8 percent to Rs 3,597 crore in January-March quarter compared to Rs 3,465 crore in preceding quarter. Revenue increased 4.1 percent sequentially to 16,550 crore from Rs 13,411 crore in same period.  The company says dollar revenue in Q4 rose 1.6 percent to USD 2,446 million and 1.9 percent in constant currency compared to preceding quarter.

National Small Savings Fund loan rate cut to 8.8 percent

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The National Small Savings Fund (NSSF) loan rate to the Centre as well as states has been lowered to 8.8 percent from 9.5 percent following a recent cut in small savings interest rates, an official statement said on Wednesday.

"In line with the revision of interest rates of small savings schemes, interest rates for the National Small Savings Fund (NSSF) loan to Centre and states for FY 2016-17 has been revised and fixed at 8.8 percent," a finance Ministry statement here said.

"This interest rate was felt to be burdensome on states' economies. In the context of easing the transmission of the lower interest rates in the economy, the government has taken a comprehensive view on the social goals of certain National Small Savings Schemes (NSSS)," it added.

The NSSF invests its net collection as loans to central, state and union territory governments.

In a bid to align small savings to the market, the government, last month, cut interest rates on all such schemes, including on Public Provident Fund (PPF), Kisan Vikas Patra (KVP) and senior citizen deposits.

Interest rate on PPF has been cut to 8.1 percent for the period April 1 to June 30, from 8.7 percent.

The interest rate on KVP has been reduced to 7.8 percent from 8.7 percent, while senior citizen savings schemes of five years would earn 8.6 percent interest, compared to 9.3 percent.

Here's why holding largecap funds makes sense: Morningstar

Morningstar has done intensive research on largecap funds like Birla Sun Life Frontline EQ , Franklin India Bluechip , ICICI Pru Top 100 and SBI Bluechip Fund .  Kaustubh Belapurkar of Morningstar Investment Adviser tells us the rationale for investing in them. According to him an investor should give a bigger allocation to largecap funds in his portfolio because they hold lower risks. Even a first-time investor can dabble in them because they have lower risks than other funds, he adds. The house tracks the importance of a fund by its ability to protect capital, says Belapurkar. Most funds are comfortable holding private banks than public sector banks, says Belapurkar. However, in an exception of sorts,  HDFC Mutual Fund  holds SBI, Punjab National Bank and Bank of Baroda. Although these holdings have impacted the fund’s performance, Prashant Jain who manages the fund is convinced of a turnaround in them, says Belapurkar.

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