- An innocuous Trump tweet coaxing the OPEC to go easy on supply cuts brought down oil prices sharply and also resulted in sharp gains for the Indian markets. The Sensex has now recovered more than 50% of the 1620 points lost in February.
- The SGX Nifty is in weak territory on Tuesday after Pakistan Air Force complained of violations by the Indian Air Force. Markets were interpreting these as a sign that another surgical strike could either be underway or could soon be underway.
- FIIs were net buyers to the tune of Rs.2134 crores while DFIs sold Rs.(-1746) crore on Monday. These were largely in the nature of block deals where the domestic funds were hiving off select stocks to the FIIs.
- Most of the action on Monday was in Asia after the Shanghai Composite rallied 5.9% in a single day. However, Asia is weak today and the SGX Nifty is also under pressure after the Pakistani Air Force complained of violations by the IAF..
- The GST cut on realty will separate the realty sector on quality with only the customer focused outfits being able to deliver value. DLF and Sobha continue to be our top picks with their North and South franchises respectively.
- With the first leg of the PM-Kisan boost coming through, one can start looking at rural consumption stocks. Havells could be the stock to watch out for and one can look to buy around Rs.690 for targets of Rs.800 in one quarter.
- The rupee could come under pressure if there are border skirmishes, which look extremely likely at this point of time. One must play this trend with a careful buying in IT stocks like Infosys and Wipro for medium term gains of 10-15%.
- Ideally, traders must avoid taking very heavy positions in the market considering the volatility border situation currently.
