Fag-end buying in RIL, PSBs, metals help Nifty end flat; Sensex dips 85 pts

The BSE MidCap index, that hit a record peak of 22,164 earlier today, closed 1.7 per cent higher at 22,141 levels

5:30 PM

TECH VIEW :: Nagaraj Shetti, Technical Research Analyst at HDFC Securities

The short term trend of Nifty continues to be positive. The lack of selling interest near the all time highs with positive market breadth signal more upside in the short term. The upside target of Nifty remains intact at 15800-15900. Immediate support is now at 15460

 

 

5:18 PM

MARKET OUTLOOK :: Trade set-up for Thursday

Nifty gave monthly closing at ATH levels and continues to trade around the same. We believe the undertone of the markets remain positive and expect positive bias to continue. Short term indicators suggest some consolidation and we await impulsive parameters to trigger. Trend support is seen at 14800 while 16000/16500 are targets on the higher side. Pharma, Metals and FMCG stocks are in the momentum value zone while Banking stocks remain elevated from the short term perspective.

Views by: Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities

4:58 PM

MARKET VIEW :: Here's why foreign flows may remain muted in June

Retail long positioning in the market has continued to increase over the last fortnight to a lifetime high, while rich futures basis also points to elevated degree of leverage. On the other hand, the recent rally has been broad-based with Mid-cap & Small-cap indices making fresh highs ahead of Nifty. Given India’s outperformance over EMs & Asia over the last month, foreign flows can be expected to stay somewhat muted for the month ahead. At a sectoral level, Financials & IT have been displaying relative strength while momentum in Autos & Metals sectors has been waning.

Views by: S Hariharan, Head - Sales Trading, Emkay Global Financial Services

4:42 PM

TECH VIEW :: Nifty forms bullish flag breakout on the hourly chart

The Nifty index opened day with a gap-down but managed to grab the bullish stream in the second half and closed at 15,576. Now, as it has formed a small bullish candle on daily chart, 15,500 zone can be the immediate support on the downside followed by 14,400.

Moreover, the index has given bullish flag breakout on hourly chart which suggests exiting trend can extend further towards immediate resistance zone of 15,650-15700 zone

Views by: Rohit Singre, Senior Technical Analyst at LKP Securities

4:30 PM

MARKET STRATEGY :: Traders should avoid contrarian trades in anticipation of a reversal

Markets traded volatile in a range and ended unchanged, extending yesterday’s pause. Initially, the bias was slightly on the negative side amid weak global cues and profit-taking in banking, IT and FMCG majors further pushed the index lower in the first half. However, in the second half, it pared all its losses and closed flat as healthy buying was seen across auto, power and healthcare stocks. Consequently, the Nifty ended at 15,576 levels. The broader markets, on the other hand, outperformed and ended with strong gains in the range of 1.3-1.8%

 

We reiterate our view to focus on stock-specific trading opportunities across sectors as the benchmark may continue to trade volatile in a range on Thursday due to scheduled weekly expiry. Needless to say, the bias is clearly on the positive side so traders should avoid contrarian trades in anticipation of a reversal.

Views by: Ajit Mishra, VP - Research, Religare Broking

 

4:15 PM

MARKET CLOSING COMMENT :: Markets volatile ahead of RBI policy meet

Ahead of the MPC policy, domestic market continued its volatility with a mixed bias. Selling was witnessed in Financials, IT and FMCG stocks but it reduced towards the close of trading.

Weakness across US and Asian markets also added to the negative trend. PSU banks attracted buyers in hopes that the government will soon finalize the list for privatisation.

In the policy, RBI is expected to focus on economic growth by maintaining the status quo on policy rates and ensuring liquidity while keeping an eye on the inflationary pressure due to rising commodity prices

Views by: Vinod Nair, Head of Research at Geojit Financial Services

4:04 PM

MARKET RECAP :: S Ranganathan, Head of Research at LKP Securities

Indices staged a smart recovery in late Afternoon Trade after being in the red for the most part of the day. Broader Markets too displayed resilience as we saw interesting buying emerge in State-Owned Banks, Auto Ancillaries and in unlocking themes across sectors

3:57 PM

BSE Snapshot

3:54 PM

SECTOR WATCH :: Metal index gains 2%

3:51 PM

SECTOR WATCH :: PSU Banks rally in a subdued market

3:50 PM

Stock of the day :: Adani Enterprises soars 10%, hits record high

3:48 PM

Stock of the day :: RIL ends near 3-month closing peak

3:45 PM

Broader market :: BSE SmallCap index rises over 1%

The index hit record peak of 23841.67 earlier today

3:44 PM

Broader market :: BSE MidCap index settles at record closing peak

3:42 PM

Sectoral trends on the NSE

3:40 PM

Sensex Heatmap at Close

Top gainers: RIL, IndusInd Bank, PowerGrid

Top losers: ITC, Tech M, Axis Bank

3:34 PM

CLOSING BELL

The frontline S&P BSE Sensex ended at 51,849 levels, down 85 points or 0.16 per cent, with ITC (down 3 per cent), Asian Paints, HDFC, Axis Bank, Tech M, HCL Tech, and TCS leading the list of losers. This was countered by gains in IndusInd Bank, Reliance Industries, SBI, Power Grid, Bajaj Auto, and Maruti Suzuki, that rallied up to 2 per cent.

 

On the NSE, the Nifty50 index settled at 15,576 levels, up 1 point. Both the indices hit their respective lows of 51,450 and 15,460 earlier in the day. 

3:22 PM

MARKET CHECK :: Sensex off lows

3:12 PM

Japan may see inflation perk up in post-Covid era, says BOJ board member

A post-coronavirus pandemic world could offer an opportunity for Japanese firms to raise prices and help the central bank achieve its 2% inflation target, Bank of Japan board member Seiji Adachi said on Wednesday.

 

But there was little the BOJ can do besides "patiently" sustaining its massive stimulus, Adachi said, offering the most candid comment to date by a BOJ policymaker on the central bank's dwindling ammunition to prop up growth and inflation. READ MORE

3:03 PM

BUZZING :: Sharp uptick in RIL help benchmark indices erase losses

2:59 PM

MARKET UPDATE:: Sensex off day's low

2:54 PM

RBI's MPC begins deliberations amid expectations of status quo in key rate

The Reserve Bank's rate-setting panel, Monetary Policy Committee (MPC), began its three-day deliberations on Wednesday amid expectations of a status quo on benchmark rate mainly on account of uncertainty over the impact of the second wave of COVID-19 pandemic. Moreover, the fears of firming inflation may also refrain the MPC from tinkering with the interest rate in its bi-monthly monetary policy outcome to be announced on Friday. READ MORE

2:46 PM

Stocks that hit 52-week high on BSE today in an otherwise feeble market

Company	PRICE(rs)	52 WK HIGH	CHG(%)
Adani Enterp.	1547.70	1554.00	9.36
Adani Total Gas	1568.90	1577.95	8.91
Aegis Logistics	372.25	374.80	4.51
Alkem Lab	3164.55	3168.45	1.87
Avanti Feeds	609.40	619.95	0.91

2:39 PM

March Quarter Results :: PVR's net loss widens to Rs 289 crore vs Rs 74.5 cr YoY

>> Revenue slips to Rs 263.3 crore vs Rs 662 crore YoY

>> Ebitda down to 25.1 crore vs Rs 189.3 crore YoY

2:37 PM

MARKET UPDATE:: HDFC twins, ITC top contributors to Sensex's fall today

2:26 PM

Motherson Sumi surges 11%, hits 52-week high on strong performance in Q4

Shares of Motherson Sumi Systems (MSSL) moved higher by 11 per cent, hitting a fresh 52-week high of Rs 264.40, on the BSE in Wednesday's intra-day deals after the country's largest auto ancillary company posted a robust performance or the quarter ended March 2021 (Q4FY21). The company's consolidated profit after tax (PAT) increased 290 per cent to Rs 714 crore in Q4FY21 on the back of a strong operational performance. READ MORE

2:19 PM

Market Check :: Broader markets outperform benchmark

2:12 PM

March Quarter Results :: Muthoot Finance

>> PAT: Rs 995.6 crore

>> NII: Rs 1,829.5 crore

>> Board approves fund raising worth Rs 5,000 crore

2:08 PM

Motherson Sumi Systems surges over 10% post Q4 results

1:55 PM

Century Enka freezes at 20% upper circuit; stock zooms 58% in a month

Shares of Century Enka were locked in the 20 per cent upper circuit band at Rs 396.60 on the BSE on Wednesday on the back of heavy volumes. In the past one month, the stock of the company, engaged in manufacturing of synthetic yarn, has zoomed 58 per cent as compared to a 5.6 per cent rise in the S&P BSE Sensex. Trading volumes on the counter jumped over five-fold with a combined 2.7 million shares having changing hands on the NSE and BSE till 01:13 pm. There were pending buy orders for 174,000 shares on both the exchanges, data shows. In comparison, the S&P BSE Sensex was down 0.91 per cent at 51,463 points. READ MORE