Sensex extends rally to eighth day, ends 242 pts up; Auto, IT stocks shine

CLOSING BELL: The NSE Nifty 50 gained 83 points. In the broader market, Midcap and Smallcap indices outperformed with gains of 0.7 per cent and 0.6 per cent, respectively.

4:19 PM

Tech View :: Nifty will attempt to touch 18,200

The Nifty opened with a gap up and consolidated for most past of the day. It closed with gains though up ~70 points. On the daily charts we can observe that the Nifty has reached the daily upper Bollinger band (18146) and that is one of the reason why the nifty consolidated in today’s trading session. The hourly momentum indicator has triggered a bearish crossover which indicates that there can be consolidation after a sharp runup. Overall, the positive outlook remains intact. Today Nifty has achieved our short-term target of 18100 and hence we revised it upwards to 18350 which coincides with the weekly upper Bollinger band. In terms of levels, 18050 – 18000 shall act as a crucial support zone while 18180 – 18200 shall act as an immediate hurdle zone for the Nifty.

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

3:55 PM

Comment :: What supported the bulls today?

Defying the trend in global peers, Indian benchmark indices continued its upward momentum, fuelled by strong Q4 earnings and favourable domestic macroeconomic data. The manufacturing PMI surpassed expectations due to an increase in new business, moderation in price pressures, and improved supply chain conditions. Additionally, the GST collection in April was the highest recorded to date. While western markets traded with mild cuts ahead of the US Fed policy announcement, the domestic market benefited from strong inflows by FIIs.

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

3:49 PM

ALERT :: India VIX vaults nearly 9% to 11.9 level

3:47 PM

Currency check :: Rupee ends at 81.88/$ against Friday’s close of 81.83/$

3:46 PM

Buzzing stock :: Adani Green Energy ends off highs; company posted multi-fold rise in Q4 PAT

3:44 PM

Buzzing stock :: UCO Bank gains 2% as lender posts record yearly profit in FY23

3:43 PM

Buzzing stock :: Varun Beverages drops 2% post Q4 results, stock split plan

3:42 PM

Buzzing stock : RVNL freezes at 10% as JV emerges lowest bidder for project worth Rs 2,249 cr

3:41 PM

Buzzing stocks :: Welspun India extends rally, surges 14% on buyback plan

3:39 PM

Heatmap :: Datamatics soars 20%, Ircon 16% as smallcaps extend outperformance

3:38 PM

From IRFC to Indian Hotels :: These are the top midcap gainers of the day

3:37 PM

Broader markets swim in green; Midcap index outshines

3:36 PM

Sectoral trends :: Nifty IT, Metal indices leap over 1% each; Pharma slips

3:34 PM

Sensex Heatmap :: 16 stocks end higher on Tuesday; Tech M, Tata Steel, NTPC top gainers

3:32 PM

CLOSING BELL :: Nifty ends atop 18,100

3:31 PM

CLOSING BELL :: Sensex ends off highs, extends gains into 8th day

3:26 PM

RBI likely buying dollars to prevent rupee appreciation, absorb inflows

The Indian central bank is likely buying dollars via state-run banks to prevent the rupee from appreciating in the wake of inflows, three traders told Reuters on Tuesday. READ MORE

3:17 PM

Earnings Alert:: Uco Bank reports highest-ever fiscal profit at Rs 1,862.34 cr

For the quarter ended March 2023, Uco Bank reported a 86.2 per cent YoY growth in net profit to Rs 581.24 crore, backed by a 36.3 per cent rise in total income to Rs 5,946.94 crore.

3:13 PM

Datamatics hits 20% upper circuit on strong Q4FY23 results

In Q4FY23, the company's revenue increased 32.9 per cent year-on-year (YoY) and 11.7 per cent quarter-on-quarter (QoQ) at Rs 416.30 crore. READ MORE

2:54 PM

ALERT :: Adani Total Gas Q4 Ebitda at Rs 195 cr vs Rs 20 cr QoQ

On a YoY basis:

>> PAT up 21% at Rs 98 crore

 

>> Revenue up 10.2% at Rs 1,114.8 crore

>> Ebitda up 48.8% at Rs 195.2 crore, margin at 17.5%
 

2:53 PM

News Alert:: Ashapuri Gold to consider stock split on May 10; stock up 3%

Ashapuri Gold Ornament has scheduled its board meeting on May 10 to consider stock split. The company's board will also announce the earnings and consider a proposal for direct listing on the NSE. 

2:43 PM

Welspun India zooms 20% as investors cheer buyback plan, strong Q4 results

The board of Welspun India has approved a proposal for purchase of 16.25 million equity shares worth Rs 195 crore through a tender offer. READ MORE

2:32 PM

Millions of Americans may suffer if debt showdown not solved in 30 days

The jobs, benefits and financial security of millions of Americans could start disappearing in a month as Republican House leverages debt showdown to try to force big spending cuts on President Biden. READ MORE

2:20 PM

News Alert:: Laurus Labs gets USFDA tentative nod for Oral Dispersible Film (ODF) Dolutegravir

The company informed BSE that it has received the USFDA tentative approval of the World's First Oral Dispersible Film (ODF) Dolutegravir 5mg and 10mg for Pediatric ARV treatment. 

This innovative paediatric drug administration through Oral Dispersible Film technology developed by Laurus Labs will simplify the drug administration in children, the release added.

2:09 PM

Global recovery shaky; India to benefit from supply chain changes: WEF

Economists worldwide are evenly divided on the prospects for the economy, with equal shares of 45% finding a global recession this year likely or unlikely. READ MORE

1:57 PM

Earnings Alert:: Newgen Software Q4 net jumps 37%; stock soars 16%

Newgen Software Technologies today reported a 37 per cent surge in Q4 net profit at Rs 78.61 crore for the quarter ended March 2023 as against Rs 57.41 crore in the corresponding quarter a year ago. Total income rose 32.3 per cent YoY to Rs 312.93 crore.

1:46 PM

ADB may look at fresh issuance of rupee denominated bonds for resources

Raising funds in local currency reduces forex volatility, ADB president Masatsugu Asakawa said. READ MORE

1:36 PM

News Alert:: MOIL reports best-ever production & sales for April; stock up 2%

MOIL reported a 26 per cent YoY growth in production of Manganese Ore at 1.31 lakh tonnes in April 2023. It also posted its best April sales ever, up 72 per cent YoY at 97,838 tonnes.

1:25 PM

Asian Markets Update:: Major indices hold gains

Source: Yahoo Finance

1:10 PM

ALERT :: NHAI withdraws LoA given to Ashoka Buildcon

>> With reference to the project for Construction of Four Lane Elevated Corridor and at-grade improvements of Danapur – Bihta Section, NHAI has withdrawn the LoA since the Company was debarred by NHAI and hence Contract could not be signed. 

>> The Authority has annulled the bidding process and has invited a fresh bid for the said project.

>> We would like to additionally state that the said debarment expired on 15th April 2023 and the Company is eligible to participate in all the bids being called by various authorities including NHAI.