Sensex, Nifty ends in red; India Bulls top gainer

Sensex closed at 29,413.66, down 47.79 points or 0.16%, while Nifty ended at 9,139.30, down 11.5% or 0.13%.

On 30-share benchmark, among top gainers were Gail (4.01%), Reliance Industries (1.95%), Power Grid (1.30%), Dr Reddy's Lab (0.72%) and Bajaj Auto (0.55%). Among top losers were NTPC (-3.31%), Sun Pharma (-2.18%), Asian Paint (-1.81%), Coal India (-1.77%) and ONGC (-1.08%).

Bharti Infra, NTPC, Sun Pharma etc are the Nift Losers stocks of the day

Jyothy Laboratories touched a 52-week high on Monday after when the company said report of Henkel taking 50% ownership is speculative. 

At 1350 hours, shares of Jyothy Laboratories was trading at Rs 409 per share on BSE, above Rs 40 or 10.74%. It touched a 52-week high of Rs 427 after clarifying over the Henkel buzz. 

Clarifying to BSE, Jyothy said, "The period for exercise of option by Henkel is upto October 2017 and the news stating that the period of exercise of option may be extended to November is incorrect. Similarly, the said option available to Henkel AG is upto 26% of the equity share capital of Jyothy and hence the news that Henkel AG is keen to take at least 50% ownership is speculative."

On March 31, 2017, Jyothy has intimated BSE about Henkel AG had agreed to extend the period for exercise of option to actuire upto 26% of the equity share capital of Jyothy up to October 31, 2017.

HCL Technologies renewed its transformational IT services engagement with Singapore Exchange for another five years. 

Swapan Johri, Executive Vice President, HCL Technologies. “The renewed engagement promises a very exciting journey for both HCL and Singapore Exchange as it leverages automation, collaboration, machine learning, analytics and cloud for driving agility, flexibility and enhanced member experience. We look forward to a continued, mutually beneficial relationship, driving business innovation and IT transformation for Singapore Exchange.”

Shares of were trading at Rs 814.95 per share on BSE, up by 0.44%.

With Nifty index facing hard times from investors, Metal, IT and Pharma stocks have emerged as top losers on the index. 

Nifty IT index tanks over 51 points or 0.51% trading at 10,012.85 after Infosys disappointing Q4 result. Analsyts believe after Infosys result investors have become cautious on upcoming IT results. 

HDFC Securities said, " The markets have no great hopes from tech bellwether Infosys. The industry is yearning for double digit growth and not getting it."

Also Read: Here's why TCS, Wipro shares slid after Infosys Q4 result

TCS will announce its Q4 result on April 18, 2017, followed by Wipro on April 25, 2017. 

At 1251 hours, shares of TCS is trading at Rs 2,306.45 per share below 22 points or 0.95%, Wipro is trading flat at 492.80 per share on NSE.

Nifty Metal was down 24 points or 0.83% trading at 2,960.65 and Nifty Pharma was trading at 10,457.20 below 74 points or 0.71%. 

Intellect Design Arena on Monday announced that the Central Bank of America has sellected the company's subsidiary Intellect Quantum Central Banking System for its digial transformation. 

The company on NSE said, "Intellect's Quantum Central Banking System will help Central Bank of America to streamline its business process across multiple departments and external entities. It will be able to generate the balance sheet in real time and have comprehensive dashboards for integrated operation and prudential oversight, with no reconciliation hassles,"

Shares of Intellect Design Arena have soared over 3% on BSE. At 1228 hours, the stock price of the company was trading at Rs 124.25 a piece up 1.76%.

The stock price of Reliance Defence surged nearly 3% after when the company announced it's partnership with South Korean defence major LIG Nex1.

In a BSE filing, Reliance Infra said, “Reliance Defence Limited, has entered into a Strategic Partnership agreement with South Korean defence major LIG Nex1."

Reliance Infra added, "As part of this partnership, two companies will explore opportunities in the indentified range of defence products required by the Indian Armed Forces. LIG Nex1 are emerging leaders in smart heavy weapons in category of Anti-ship Missiles, Anti Tank Guided Missiles (ATGM), and Guided Rockets.”

At 1154 hours, shares of Reliance Defence jumped by 1.71% on BSE, trading at Rs 65.70 per share.

Where Sensex was trading between flat to negative, two sectors namely oil & gas and consumer durables surged over 100 points on the index. 

S&P BSE Oil & Gas was trading at 14,351.53 up by 133 points or 0.94%, while S&P BSE Consumer Durables soared above 116 points or 0.76% trading at 15,518.50.

Endurance Technologies said that it has entered into agreement with BWI North America Inc on April 15, 2017, for joint development of ABS products for application in two and three wheelers. 

In a BSE filing, Endurance said, "This would help the company to cater OEM customers to comply with the new regulations that would require all existing two-wheeler models to be fitted with ABS by April 2019."

At 1007 hours, shares of Endurance surged by Rs 18.85 or 2.26% trading at Rs 849.70 per share on BSE. 

Within few minutes of early trade, Indian markets were trading on a negative note with Nifty coming down 9,150-mark and Sensex below 29,400-level.

However, at 1003 hours, Sensex was trading at 29,419.04 down 42 points or 0.16%, while Nifty was trading 9,135.30 below 15 points or 0.16%.

Larsen & Toubro's construction arm on Monday won order worth Rs 2,694 crore across various segments.

This order involve water effluent treatment, smart world communication and transportation infrastructure.

Shares of L&T was trading at Rs 1,682.10 a piece on BSE, up by Rs 5 or 0.31%.

Mahanagar Telephone Nigam Limited (MTNL) shares jumped nearly 2% trading at Rs 26.50 per share after the company said the merger with BSNL is desirable for operational synergy. 

PK Purawar CMD of MTNL in a PTI report said, ""The industry is consolidating. It is not an issue of BSNL and MTNL...For any operator to succeed in India a pan India operation is a must."

MTNL have been planning to merger with BSNL for nearly a decade now. The deal awaits for regulatory approvals. 

Shares of Bajaj Corp drops by nearly 7% on Monday after it missed analysts' estimates for it's fourth quarter ended March 31, 2017 result. 

At 9.41 am, shares of Bajaj Corp was trading at Rs 401.50 a piece down Rs 27 or 6.38%. 

The company reported standalone net profit of Rs 52.66 crore in Q4, declining by 2.93% compared to Rs 54.25 crore in the corresponding period of the previous year.

A Bloomberg poll estimated Bajaj Corp to report standalone net profit of Rs 65.8 crore this Q4.

Godrej Properties on Monday announced that it has partnered with Taj Hotels Palace Resorts Safaris to develop a world class Taj brand hotel at its flagship project, The Trees in Mumbai. 

The Taj at The Tress will offer approximately 150 guest rooms and suites along with world class dining, entertainment and conferencing facilities. 

Shares of Godrej Properties were trading at Rs 432.75 per share up by Rs 3 or 0.67%.

Motilal Oswal said, "Geopolitical issues affected the markets further. De-escalation of tensions between US and North Korea should help the markets. Overall the
markets will be focused on geopolitical news and results season."