RIL, pvt banks take Sensex 558 pts up; Nifty tops 14,650; Nifty Metal up 3%

Hindalco, L&T, Tata Steel, Divis Labs, Reliance Industries, Bajaj Finance, and SBI were the top gainers on the 50-share pack

4:25 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research at CapitalVia Global Research

After a few days of the lackluster movement, a positive trend in today’s market activity. The expected levels of the market are likely to be in the range of 14500 and 14800, and it’s going to be crucial for the short-term market scenario to sustain above the 14500 Nifty50 Index level.  The momentum indicators like RSI and MACD support the upside move and indicate potential upside from the current market level.

4:21 PM

MARKET CLOSING COMMENT :: Mohit Nigam, Head, PMS & Advisory at Hem Securities

After a positive opening, the market moved higher during the day with NIFTY posting gains of over 1% and traded close to 14650 led by Metals and Banks, both trading with gains of above 2%. There was a larger action seen in the mid & small cap space after a long time. Maruti Suzuki delivered below than expected results with Net Income down by about 10% YoY,  however company sales soared by 33.6% and it has been on an increasing trajectory since many months indicating a revival in the Auto sector. 14200 on the downside remains a crucial support, a move towards 14850 cannot be ruled out after today's upmove.

4:19 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Retail Research at HDFC Securities

Indian benchmark equity indices ended higher for the second day in a row on April 27. The Nifty opened higher and kept making higher top higher bottom till the close. At close the Nifty was up 168 points or 1.16% at 14653. Optimism that the U.S. decision to offer vaccine support will aid the nation’s effort to control the world’s largest surge in coronavirus infections helped sentiments.

 

Nifty filled the downgap made on April 19 and closed above it, thus nullifying the bearishness arising out of that gap. 14697 is the next resistance, which does not seem difficult to breach. However 14785 being another downgap resistance (made on April 12) could be a tough resistance on the way up. On falls 14557 could offer support

4:15 PM

TECH VIEW :: Sumeet Bagadia, Executive Director at Choice Broking

On the technical front, the nifty index has settled above Middle Bollinger Band formation and 100 days Exponential Moving Average, which suggests bullish movement in the counter. Moreover, the RSI (14) and stochastic have also indicated positive crossover, which shows bullish strength for the near term. At present, the Nifty is holding support at 14450 levels while an upside resistance seems at 14860 levels.

4:12 PM

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Healthy buying across sectors led by Banking, Metals and Specialty-Chemicals is leading the rally. Stocks are up in anticipation of good quarterly earnings and improved outlook due to a hike in stock prices & demand. Mid & Small caps are outperforming the main benchmark. This is though FIIs continue to be net sellers in the domestic market, due to weak Asian markets ahead FED meeting, it was more than compensated by DIIs & Retail investors

4:09 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Strong positive move witnessed in today’s session after a small gap up opening and index closed a day at 14655 with gains of more than one per cent & formed a bullish candle on the daily chart. the index has shifted its base 14580-14500 zone if manage to hold above-said levels then we may see some more extension in the ongoing move towards 14750 zones above that we may see fresh breakout which can push index towards 15k mark on the quick basis

4:06 PM

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

Buoyancy in Steel & Aluminium stocks kept Bulls busy during the day as several Midcaps across sectors joined the session in Tuesday's Afternoon Trade. Chemical stocks participated strongly today as many of them scaled yearly and lifetime highs on keen accumulation

4:00 PM

BSE Snapshot :: M-cap of all BSE listed firms climbs above Rs 206-trillion mark

3:59 PM

Stock of the day :: SBI Card ends 3.6% as analysts remain bullish despite weak Q4 show

3:57 PM

Stock of the day :: Maruti Suzuki slips over 1% as Q4 nos miss expectations

3:55 PM

Sector of the day :: PSBs rally; Canara Bank, Bank of Baroda gains up to 3%

3:53 PM

Sector of the day :: Nifty Metal index soars 3% as demand outlook improves

3:47 PM

Broader market :: SmallCap index outperforms benchmark indices, ends 1.5% higher

3:46 PM

Broader market check :: MidCap index ends 1% up

3:44 PM

Stocks that saw heavy volume-based buying on the Sensex

3:42 PM

RIL, HDFC Bank, ICICI Bank :: Top contributors towards Sensex's gain today

3:41 PM

Sectoral trends on the NSE

3:39 PM

Sensex Heatmap at Close

Top gainers: L&T, Bajaj Finance, SBI, IndusInd Bank

Top losers: Maruti Suzuki, NTPC, Nestle Ind, Kotak Bank

3:34 PM

CLOSING BELL

An across-the-board buying was visible at the bourses as bargain hunters returned to Dalal Street, helping the benchmark indices climb over 1 per cent on Tuesday. On the BSE, the 30-share Sensex settled at 48,944 levels, up 558 points while the broader Nifty50 closed at 14,653 levels, up 168 points on the NSE. 

3:26 PM

MARKET CHECK :: Sensex hits day's high

3:21 PM

Global Markets: Stocks dip from record levels ahead of Fed decision

Shares dipped from record highs on Tuesday as optimism about the economic recovery was dented by caution ahead of the Federal Reserve's policy decision and a raft of earning updates. The MSCI world equity index, which tracks shares in 49 countries, fell 0.1% by 0810 GMT, following a muted session in Asia and slight early losses in Europe. S&P 500 futures rose almost 0.1%, while earlier the MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.06%.

 

3:11 PM

Adani Ports waives charges for ships carrying Covid related equipment

Adani Ports and SEZ (APSEZ), the nation's largest private sector operator of sea ports, has waived charges for ships exclusively carrying COVID-related equipment, and said such vessels will be given priority berthing.

 

Billionaire Gautam Adani's group has also secured about two dozen cryogenic tanks for transporting medical oxygen, from the UAE, Thailand and Saudi Arabia, it said in a series of tweets. READ MORE

2:58 PM

IBM, HCL Technologies partner to set up cybersecurity solutions for clients

HCL’s Cybersecurity Fusion Centres will be designed to take advantage of IBM’s Cloud Pak for Security, to help create a unified security platform to connect security teams, tools and processes across the threat lifecycle. This collaboration builds on HCL and IBM’s recent alliance expansion to help organizations with digital transformation. READ MORE
 

2:46 PM

March Quarter Results :: Hindustan Zinc reports profit of Rs 2,481 crore

>> Revenue at Rs 6,725 crore

>> Ebitda at Rs 3,875 crore

>> Ebitda margin at 55.8%

2:33 PM

JUST IN | SBI to consider up to $2 bn fund raising via bonds during FY22 on April 28

2:31 PM

Maruti Suzuki Q4 profit declines 13% YoY to Rs 1,116 cr, misses estimates

India’s largest car manufacturer Maruti Suzuki India on Tuesday reported a standalone net profit of Rs 1,116.1 crore for the quarter ended March 31, 2021 (Q4FY21). It was down13.5 per cent from previous year’s profit of Rs 1,291.7 crore on account of lower sales volume, increase in commodity prices, adverse foreign exchange movement, and lower non-operating income partially offset by lower operating expenses, and cost reduction efforts. READ MORE

 

2:26 PM

NEWS ALERT

Night curfew imposed in Assaim from 8 om to 5 am till May 1 with immediate effect

2:02 PM

Zydus Cadila's Virafin to be soon available in 3 UP districts: Reports

2:00 PM

Sensex Heatmap | Top gainers & losers at this hour

1:55 PM

Q&A | Severity of 2nd wave will determine pace of growth, says FT's Radhakrishnan

The length and severity of the second wave of the Coronavirus (Covid-19) pandemic will be the key determinants of the pace of recovery for the Indian economy. Faster-than-expected recovery in the US economy and the resultant tapering of stimulus by the US Federal Reserve could potentially affect risk sentiment and impact flows to emerging markets like India. READ INTERVIEW HERE

Anand Radhakrishnan