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Equity benchmarks turned volatile after strong opening on Wednesday. The 30-share BSE Sensex opened more than 100 points higher but could not sustain entire gains. 

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Today Market News:-

• The index rose 53.10 points to 25869.46 and the 50-share NSE Nifty advanced 7.15 points to 7921.85.
• HDFC gained 2.4 percent after the company's board approved 10 percent stake sale in its insurance arm HDFC Life Insurance through public offer.
• TCS fell 1.6 percent after missed analysts' expectations on Q4 margin front, though profit beat forecast.
• Globally, Asian markets remained mixed with Shanghai falling 2.5 percent and Hang Seng down 1 percent while Nikkei rose 0.3 percent.
• Neelkanth Mishra of Credit Suisse says commodity prices have rebounded from 25-year lows hit in January 2016 and prices are up for most large commodities.
• The S&P 500 and Dow Jones closed at their highest levels of the year so far. The S&P 500 closed above the psychologically key 2,100 level for the first time since December 1, 2015.
• The Reserve Bank is expected to go for another 50 bps rate cut in the current financial year as there is room for further easing in monetary conditions, a Morgan Stanley report says.

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The Sensex is down 143.34 points or 0.6 percent at 23048.63, and the Nifty slips 48.40 points or 0.7 percent at 6999.85. About 332 shares have advanced, 1156 shares declined, and 47 shares are unchanged.

          Dr Reddy's Labs, NTPC, Tata Motors, Infosys and Sun Pharma are top gainers while Hindalco, SBI, Tata Steel, Coal India and Adani Ports are losers in the Sensex.

           Neelkanth Mishra of Credit Suisse said ,"The Indian market is down 14 percent for the year in dollar terms. The sharp risk rally on February 15 was likely catalysed by a 2.1 percent appreciation in CNH over the Chinese New Year.

           IDBI Bank is fairly well placed despite booking a loss and making provisions in the third quarter, says the bank's deputy managing director BK Batra.

          Shaun Rein, managing director at China Market Research group feels the Chinese markets will remain volatile for 3-4 months, although they have opened up relatively stronger after the Chinese new-year break.

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The market rebounded in early trade Thursday after losing nearly 700 points on the Sensex in previous three consecutive sessions. The Sensex rose 165.59 points to 24388.91 and the Nifty climbed 49.65 points to 7411.45.

             The Indian rupee gained in the early trade today. It has opened higher by 22 paise at 67.85 per dollar against 68.07 Wednesday.

            Godrej Consumer is in process to buy majority stake in Kenya-based company Canon Chemicals. This will be an all cash deal where Godrej will enjoy a 75 percent stake in the profit-making branch. Canon deals in personal and household care products and has been reporting strong earnings over the last three years, says Adi Godrej, Chairman, Godrej Group.

             Asian markets were trading mixed with the Shanghai, Hang Seng and Kospi rising over a percent.

               Asian shares rallied on Thursday as speculation the U.S. Federal Reserve might opt to not raise interest rates at all this year hammered the dollar and sparked a huge rally in oil prices.
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Bulls took charge of Dalal Street as the market rebounded on Thursday after hitting 20-month low in previous session. The Sensex rose 232.66 points or 0.97 percent to 24294.70 and the Nifty rallied 67.35 points or 0.92 percent to 7376.65.
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Market Outlook:- 
The Indian rupee rebounded in early trade on Thursday after hitting a 28-month low in previous session. Battered crude oil prices bounced back from their lows on Thursday, propelling solid gains in Asian shares and the dollar. 

        Geoffrey Dennis of the firm says global markets are very close to the end of selling. He believes that China is rebalancing its growth and that global economy is in a decent shape. 
           The European Central Bank will keep all interest rates on hold when it meets on Thursday but highlight increasing growth and inflation risks, raising the prospect of further policy easing later this year. 
           Axis Bank, BHEL, SBI, Hindalco Industries, ICICI Bank, Adani Ports and Tata Steel were leading gainers in early trade. 
           Indian stocks ended at a fresh 20-month low on Wednesday dropping to their weakest since before the election of Prime Minister Narendra Modi on increasing concerns the country will be hit hard by the growing turmoil in global markets.

Today Stock Trading Tips for Equity and Commodity Market

The Indian Share Market consolidates for second straight with support from oil, Pharma and FMCG stocks. The Sensex is up 126.01 points at 27450.01 and the Nifty is up 42.60 points at 8304.95. About 1452 shares have advanced, 995 shares declined, and 174 shares are unchanged. Dr Reddy's Labs is up 3 percent while GAIL, Hindalco, Tata Power and Bharti are top gainers. On the losing side are Tata Motors, Hero Moto Corp, NTPC, Coal India and Cipla.
Shares of oil marketing companies like HPCL , BPCL and IOC rallied 3-4 percent intraday on Monday after government increased fuel prices last week. Petrol price was hiked by Rs 3.13 a litre and diesel by Rs 2.71 per litre, the second straight steep increase in rates this month. BPCL was at Rs 782.05, up Rs 16.35, or 2.14 percent, HPCL was at Rs 624.80, up Rs 22.00, or 3.65 percent and IOC was at Rs 342.50, up Rs 6.40, or 1.90 percent on the BSE. With inputs from PTI
State-owned fuel retailers IOC, BPCL and HPCL revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight. Petrol prices had been cumulatively cut by Rs 17.11 a litre in 10 reductions between August and February and diesel by Rs 12.96 a litre in 6 cuts between October and February.
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