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The top Nifty gainers include HUL, Hindalco Industries, HDFC, Bharti Infratel, and Indiabulls Housing Finance while BPCL, Bharti Airtel, Asian Paints, IOC, and HCL Tech are the top losers.

Benchmark indices are trading on a positive note with Nifty up 24 points, trading at 11,622, while the Sensex gained 112 points and is trading at 38,712.


FMCG stocks are buzzing in this afternoon session led by Marico which spiked 7 percent followed by Hindustan Unilever, GSK Consumer, United Spirits and Dabur India.

Selective auto stocks are also trading in the green led by TVS Motor Company, Hero MotoCorp, Tata Motors, Maruti Suzuki and Apollo Tyres.

From the media space, Dish TV, Zee Entertainment and TV Today are the top losers.

Nifty Energy is down a percent dragged by HPCL, BPCL, GAIL India and Reliance Industries.

India VIX is down 3.14 percent at 25.60 levels.

The top Nifty gainers include HUL, Hindalco Industries, HDFC, Bharti Infratel, and Indiabulls Housing Finance while BPCL, Bharti Airtel, Asian Paints, IOC, and HCL Tech are the top losers.

The most active stocks are ICICI Bank, Reliance Industries, Marico, PC Jeweller, and Bharti Airtel.

Stocks which hit a 52-week high on the NSE included 63 moons technologies, Aavas Financiers, Fairchem Speciality and Mold-Tek Technologies.

On the other hand, 65 stocks have hit new 52-week low including Cyient, D B Realty, Future Retail, IDBI Bank, IL&FS Transportation Networks, Jain Irrigation Systems, Mcnally Bharat Engineering, Mahanagar Telephone Nigam, Reliance Home Finance and TV Today Network among others.

The breadth of the market favored the advances as 925 stocks advanced and 757 declined while 414 remained unchanged. On the BSE, 1,141 stocks advanced, 1,089 declined and 137 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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According to a senior Union Commerce Ministry official, the United States along with Canada is likely to raise an objection at the World Trade Organisation (WTO) opposing a quantitative cap on Pulses imports.


This is separate from the objections filed earlier this month with the WTO on India’s alleged "under-reporting" of market price support for five varieties of Pulses under the minimum support price (MSP).

The quantitative restrictions on Pulses import were necessitated following cheap imports of certain Pulses. The Directorate General of Foreign Trade (DGFT) had in 2017 and 2018 had imposed a quantitative cap on Pulses imports to protect the interests of the domestic farmers.

However, in order to protect farmers’ interests, the Government is exploring various options and mechanisms to control cheap imports, that cannot be challenged in the WTO.

The process of raising an objection at the WTO first involves a call for mutual discussion and the complainant seeks clarification from the respondent nation. If the move is justified and accepted, the dispute doesn't get filed. But if after such discussions, objections remain, a "dispute" is filed at the WTO. Following which, a dispute panel is constituted and this panel gives its final verdict. There is an opportunity for appeal in the appellate body as well.

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U.S. West Texas Intermediate (WTI) crude oil futures pushed through $56 per barrel for the first time this year, hitting $56.13 a barrel before edging back to $56.02 a barrel by 0112 GMT, still up 0.8 percent from their last settlement.


Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela. U.S. West Texas Intermediate (WTI) crude oil futures pushed through $56 per barrel for the first time this year, hitting $56.13 a barrel before edging back to $56.02 a barrel by 0112 GMT, still up 0.8 percent from their last settlement. International Brent crude futures hit a high of $66.78 per barrel before easing to $66.65 per barrel, up 0.6 percent from their last close. For both benchmarks, these were their highest levels since Nov. 20, 2018.

The Organization of the Petroleum Exporting Countries (OPEC), as well as some non-affiliated producers like Russia, agreed late last year to cut output by 1.2 million barrels per day (bpd) to prevent a large supply overhang from swelling more. Further pushing up crude prices have been U.S. sanctions against oil exporters and OPEC-members Iran and Venezuela.

Traders said financial markets, including crude futures, were also generally supported by hopes that the United States and China would soon resolve their trade disputes, which have dragged on global economic growth.

“Positive signs in the U.S.-China trade talks helped boost sentiment across markets,” ANZ bank said on Monday.

At least partly offsetting supply falls has been a surge in U.S. crude oil production; by more than 2 million bpd in 2018, to a record 11.9 million bpd. And there are signs that U.S. output will rise further.

U.S. energy firms last week increased the number of oil rigs looking for a new production by three, to a total of 857, energy services firm Baker Hughes said in a weekly report last Friday. RIG-OL-USA- That means the U.S. rig count is higher than a year ago when fewer than 800 rigs were active.

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