F&O expiry: Sensex up 32 pts, ends April series below 50,000; metals shine

Among key sectoral indices, robust global demand lifted the Nifty Metal index to record peak of 4,869 on the NSE today

4:25 PM

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

Technically, the Index has given a breakout of its upper band of Falling Wedge formation, which signifies a bull run in the counter. Moreover, the index has given closing above 21- Days Moving Averages. At present, the nifty index has a support at 14700 levels while an upside resistance seems at 15000 levels.

4:21 PM

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

The market witnessed some strong trend and an attempt to overcome the resistance level around the Nifty 50 Index level of 15000. While sustaining above 14800 is the key factor from a short-term perspective, our research suggests, maintaining above this level market to gain momentum and to open the gate for a movement till 15200. The momentum indicators like RSI, MACD to stay positive and market breadth to improve, further strengthening the view of a short-term bullish outlook.

4:18 PM

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

Indian Benchmark equity indices ended with marginal gains on April 29 after giving up most of the opening gains. The Nifty opened higher but fell in the early part of the day to make an intra day low at 1050 Hrs. A feeble recovery followed amid volatility on April F&O expiry day. At close, the Nifty was up 30.40 points or 0.20% at 14,894.90.

 

Nifty failed to hold above 15000 level.  Negative advance decline ratio suggests some caution among market participants. 15050 could be a resistance on the up for the Nifty while 14695 could act as a support. Going by the slow fall seen so far, it seems that Nifty has not yet made a top in this upmove. 

4:12 PM

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

Index again opened a day with a good gap but profit booking from higher-end led index to close with minimal gains at 14880 and formed a bearish candle on the daily chart after five consecutive green candles. Index retraced from its strong hurdle zone of 15k mark previously also we witnessed profit booking from same levels if we failed to sustain above 15k mark we may see sort of profit booking in coming sessions towards immediate support zone of 14800-14750 zone

4:06 PM

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

The domestic market was torn between negatives and positives on a volatile trade owing to the monthly F&O expiry. The Fed in its meeting sealed economic confidence by keeping its monetary policy loose and reaffirming aggressive support through bond buying. Metal stocks continue to outshine other sectors on strong outlook

3:58 PM

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

An upbeat mood for Metal stocks - Steel & Aluminium yet again helped Indices to close flattish on a day of heightened volatility. Cement stocks and Private Banks lent support to the Bulls even as we saw profit booking on earnings today

3:55 PM

Primary market action :: PowerGrid InviT IPO receives tepid response on Day 1

>> Issue subscribed 6 per cent till 3:00 PM so far

3:50 PM

Result reaction :: Bajaj Auto slips over 1% post Q4 nos

3:49 PM

Result reaction :: HUL ends flat despite a beat on Q4 nos

3:47 PM

Sector of the day :: PSU Banks skid at the bourses; only 2 constituents end the day in the green

3:45 PM

Sector of the day :: Nifty Metal index hits record high in the intra-day trade

3:44 PM

BSE snapshot :: Top volume based stocks

3:41 PM

RIL, Bajaj twins :: Stocks that helped Sensex recoup losses

3:39 PM

Sectoral trends on the NSE :: Metal stocks outperform

3:37 PM

Sensex Heatmap :: 17 of the 30 constituents end the day in the red

3:32 PM

CLOSING BELL

Buying in metal space lent support to the indices to end flat, albeit in the green for fourth straight day. The 30-share index advanced 32 points to close at 49,766 levels while the broader 50-share index concluded the day at 14,889 levels, up 24 points.

 

3:27 PM

Mukesh Ambani doesn't have much need for a 1% stake in Saudi Aramco

Prince Mohammed didn’t disclose which company might make the investment, but you don’t have to be a Jane Austen protagonist to work out the most likely partner. Reliance Industries Ltd., owner of the world’s biggest oil refinery, has been dancing the quadrille with Saudi Aramco for nearly two years. At current prices, 1% of Aramco would be worth about $19 billion — not far off the $15 billion price tag put on 20% of Reliance’s energy division, at the time the Saudi company first took an interest in buying a stake in 2019. READ MORE

3:18 PM

Bajaj Auto Q4 profit up 2% YoY to Rs 1,332 cr; Ebitda margin slips 90 bps

Two-wheeler maker Bajaj Auto on Thursday reported a 1.6 per cent year-on-year (YoY) growth in standalone net profit at Rs 1,332.07 crore for March quarter of FY21 (Q4FY21). The same was Rs 1,310.3 crore in the year-ago period. On a quarterly basis, the profit tumbled 14.4 per cent from Rs 1,556.3 crore. The revenue of the firm, however, clocked a 26.11 per cent improvement over previous year’s revenue of Rs 6,815.9 crore and stood at Rs 8,596.10 crore. Sequentially, it was down 3.5 per cent from Rs 8,909.9 crore. READ MORE

3:17 PM

March quarter results :: Bank of Maharashtra

> Q4 standalone net profit at Rs 165 crore VS 57.6 crore

3:09 PM

March quarter results :: Bajaj Auto Q4 PAT at Rs 1,332.07 cr vs Rs 1,310.29 cr YoY

> Revenue at Rs 8,596 cr vs Rs 6,816 cr YoY

 

> EBITDA at Rs 1,558 cr vs Rs 1,293 cr YoY

 

> Q4 EBITDA margin at 18.1% vs 19% in same quarter last year

 

> The Board of Directors recommend a dividend of Rs 140 per equity share subject to approval of shareholders

2:55 PM

March Quarter Results :: Laurus Labs

>> Revenue from Operations came at Rs 1,411.9 Cr (up 9.6% QoQ, 68.3% YoY) 

>> EBIDTA came at Rs 450.3 Cr (up 5.6% QoQ, 134.8% YoY) 

>> EBITDA Margin came at 31.9% vs 33.1% (QoQ), 22.9% (YoY)

>> Adj. PAT came at Rs. 296.9 Cr vs Rs 272.9 Cr (QoQ) and Rs 110.2 Cr (YoY)

2:47 PM

India VIX rises 3% ahead of April F&O expiry

> VIX is an indicator of market volatility

2:37 PM

Petrol price hike on cards post election outcome? Here's how to trade OMCs

Now, petrol and diesel prices may increase soon by early next month with oil companies looking to raise the retail price of the two auto fuels between Rs 2 and Rs 3 per litre in phases and make up for the losses they incurred by keeping the prices at artificially low levels in the run up to the local elections.
 

Petrol and diesel prices have not been raised since February 27, but actually the prices of auto fuels have fallen on four occasions in March and April, bringing petrol prices down by 77 paisa per litre and diesel by 74 paisa per litre in the national capital. READ MORE

2:22 PM

Sector Watch :: Nifty Metal index shines, jumps nearly 4%

2:10 PM

HDFC twins among top Sensex drags in afternoon trade

2:07 PM

Most Indian companies protected against weakening rupee: Moody's

Most companies have currency protections, with nearly half of Moody's rated portfolio benefiting from natural hedges. April 27, 2021, the Indian rupee closed around 74.66 against the US dollar, or about three per cent lower than levels in mid-March.

 

Moody's released a report that looks at 22 rated India-based companies across various sectors such as IT service-related, commodities, TMT and automotive. READ MORE

2:00 PM

India's oil refiners eye more exports as Covid-19 outbreak hits demand

State-owned Indian Oil Corp. and Bharat Petroleum Corp. are weighing the option of raising oil-product exports against cutting run rates, according to company officials who asked not to be identified. That’s after record infections in India prompted curfews that kept people off the streets and hurt consumption. Outside India, major economies such as the U.S. and China saw a surge in mobility that has lifted the use of gasoline and diesel. READ MORE

1:51 PM

Air India, BPCL sale may be delayed but will get completed by FY22

The timeline for disinvestment of Air India and Bharat Petroleum Corporation (BPCL) may be pushed by two to three months due to impact of the second Covid-19 wave.

 

However, the government is confident of wrapping up the sale of the two companies by FY22 and meeting the disinvestment target of Rs 1.75 trillion. This will be achieved by sale of government stake in core and non-core public sector undertakings (PSUs). READ MORE

1:41 PM

HUL Q4 PAT jumps 41% YoY to Rs 2,143 crore, beats Street estimates

The revenue during the quarter under review jumped 34.63 per cent YoY to Rs 12,132 crore in comparison with Rs 9,011 crore in the same period last year. It climbed 2.27 per cent quarter-on-quarter (QoQ). READ MORE

1:38 PM

Tata Motors in focus

>> TaMo to reportedly shut all offices, plants between May 1 and 3