Sensex gains 318 pts as investors cheer dip in inflation; Realty stks rally

CLOSING BELL: The NSE Nifty 50 ended with a gain of 84 points; Realty index soared over 4%; auto and bank shares also logged significant gains.

4:00 PM

Comment :: 'Traders should avoid contrarian trades in this market'

The rotational buying in heavyweights from the key sectors viz. Banking, financial, auto and FMCG is helping the index to maintain a positive tone despite mixed global cues. And, indications are in favor of the prevailing trend to continue. Traders should align their positions accordingly and avoid contrarian trades. 

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

3:59 PM

Comment :: What's driving the market rally?

Domestic benchmark indices are marching ahead driven by favourable developments such as declining inflation levels, steady foreign inflows, and in anticipation of robust earnings growth on a QoQ basis next quarter, due to drop in global commodity prices. The domestic CPI inflation came in better than expected at 4.7%, and the WPI inflation decreased by 0.92%, reaffirming RBI’s decision to hold rate hikes.

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

3:58 PM

Tech View :: 'Time to change Nifty outlook to positive from sideways'

The Nifty has finally managed to close above the upper boundary level of 18,350 which indicates breakout from a sideways consolidation range. The breakout has put the structure in favor of bulls. The index is likely to witness continuation of the positive momentum. The ideal strategy to trade such a kind of scenario is to ride the uptrend with a trailing stoploss mechanism.

On the upside, we expect the Nifty to reach levels of 18,500 and hence we change our outlook on the Nifty to positive from sideways. The daily momentum indicator has triggered a negative crossover which is a sell signal, however, until price shows up evidence of the same, we shall continue to maintain a positive outlook. In terms of levels, 18,500 – 185,20 is the immediate hurdle while 18,190 – 18,220 shall act as a crucial support zone and until this support zone is held, we can expect the dips to be bought into and the positive momentum to continue.

Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

3:55 PM

Rupee Closing :: Rupee ends at 82.30/$ against Friday’s close of 82.16/$

3:53 PM

BSE Stats :: Advancing stocks outnumber declining stocks on Monday

3:51 PM

Buzzing stock :: Adani Group stocks decline; Adani Total Gas hits 5% lower circuit

3:49 PM

Buzzing stock :: Avenue Supermarts slides over 4% amid weak March quarter result

3:47 PM

Buzzing stock :: Zensar Tech extends gain post Q4 results

>> Stock is up over 24% in 2 days

3:44 PM

Buzzing stock :: Tata Motors rallies nearly 3% as Q4 earnings beat Street expectations

3:43 PM

Sector of the day :: Rural-focused FMCG stocks rally as inflation cools down

3:41 PM

Sector of the day :: Nifty Realty zooms 4% on solid Q4 show, dip in inflation

3:40 PM

Broader markets :: SmallCaps extend outperformance, index gains nearly 1%

3:38 PM

Sectoral trends :: Realty, FMCG indices lead the market rally on Monday

3:36 PM

Sensex Heatmap :: Less than 10 stocks end lower, Maruti, TCs top laggards

3:35 PM

CLOSING BELL :: Nifty ends tad below 18,400

3:33 PM

CLOSING BELL :: Sensex settles off highs, up 300 pts

3:23 PM

Global Check:: US, UK stock futures advance up to 0.5%

Source: Investing.com

3:16 PM

ALERT :: NSE launches WTI Crude, Natural Gas Futures contracts, say reports

3:13 PM

ALERT:: Vascon Engg Q4 net zooms 358%; stock skyrockets 13%

Vascon Engineering reported a sharp 358.5 per cent surge in Q4FY23 net profit to Rs 49.61 crore for the quarter ended March 2023 as against Rs 10.82 crore in the year ago quarter. Total income rose 48.7 per cent YoY to Rs 332 crore.

3:08 PM

ALERT :: Supreme Court defers hearing the Adani-Hindenburg Case

3:03 PM

Bharti Airtel Q4 revenue may rise up to 6.4% QoQ, ARPU growth to aid margin

According to brokerages, strong service mix, along with increase in average revenue per user (ARPU) will help expand Ebitda (earnings before interest, tax, depreciation, and amortisation) margins to 51 per cent in Q4FY23 from 49 per cent in Q3FY23. READ MORE

2:54 PM

ALERT:: Tube Investments Q4 net soars 84%; stock slips 2%

Tube Investments of India reported a 83.9 per cent surge in Q4 net profit to Rs 250.71 crore for the quarter ended March 2023 as against Rs 136.36 crore in the year ago quarter. Total income was up 3.5 per cent YoY at Rs 1,835.02 crore.

2:44 PM

ALERT:: Asahi India Q4 net dips 46%; stock sheds 4%

Asahi India Q4FY23 net profit plunged 46 per cent to Rs 69.54 crore when compared with Rs 128.96 crore in Q4FY22. Total income, however, rose 11.2 per cent YoY to Rs 1,039.23 crore.

2:29 PM

This smallcap pharma company has zoomed 44% in 3 days on strong Q4 results

Since February 2, 2023, the stock price of Neuland Labs more-than-doubled or zoomed 116 per cent from level of Rs 1,409.75. READ MORE

2:18 PM

ALERT:: Subex reports Rs 47 cr loss in Q4; stock tumbles 11%

Subex today a net loss of Rs 47.18 crore for the quarter ended March 2023, in comparison the company had posted a net profit of Rs 0.60 crore in the corresponding quarter a year ago. Total income declined 36.9 per cent from Rs 80.80 crore to Rs 50.99 crore.

2:09 PM

DMart dips 5% on weak Q4; here's how brokerages have interpreted the result

The EBITDA margin declined 110 basis points YoY to 7.3%, while the gross margin fell 90 bps YoY to 13.4% pulled down by lower revenue from the high-margin gross merchandise & apparel segment. READ MORE

1:57 PM

ALERT:: Patel Engineering Q4 net jumps nearly 4-fold; stock up 2%

Patel Engineering today reported a surge of 298 per cent in net profit at Rs 84.36 crore for the quarter ended March 2023 when compared with Rs 21.20 crore in the corresponding quarter a year ago. Total income was up 16.8 per cent YoY at Rs 1,298.03 crore.

1:43 PM

Bank of Baroda Q4 preview: PAT may soar up to 2x YoY on healthy loan growth

Analysts expect Bank of Baroda's financial performance to weaken on a quarter-on-quarter (QoQ) basis, due to lower interest income. READ MORE

1:31 PM

Global Check:: Hang Seng surges 1.7% in Asian trade

Source: Yahoo Finance

1:18 PM

Consumer durables in IIP down 4% in FY23 compared to pre-covid FY20

The recently released index of industrial production (IIP) data showed that consumer goods, particularly durables, performed poorly in 2022-23 year-on-year. The performance of consumer durables becomes worse if one compares their output in FY23 to that of pre-Covid years. READ MORE