Sensex snaps 8-day winning run, ends 161 pts lower ahead of Fed outcome

CLOSING BELL: The NSE Nifty 50 settled with a loss of 58 points. IT, metal and energy stocks slipped, while FMCG shares ended on a firm note.

4:03 PM

Tech View :: Here're the key levels to watch on Nifty50

On the daily charts we can observe that the Nifty is trading around the 18100 mark since the past two trading sessions. The level coincides with the 61.82% Fibonacci retracement level of the fall from 18889 – 16828 and thus making it a crucial level from short term perspective and could be one of the reasons for the consolidation since past couple of trading sessions. The hourly Bollinger bands are contracting, and the hourly momentum indicator is having a negative crossover which also suggests a consolidation is likely. Overall, the uptrend is still intact, and this consolidation should be taken as an opportunity to create fresh long positions. On the downside crucial support zone is placed at 18000 – 17960 while gap area formed today between 18115 – 18130 shall act as an immediate hurdle zone. 

 

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

4:00 PM

Tech View :: Decisive move above 18,200, may take Nifty towards 18,500

Nifty remained mostly rangebound, following a timid start as the investors await Fed rate decision. On the daily chart a small red bodied candle has formed. The sentiment remains positive as the index has sustained above 18,000. Over the short term, the index is likely to remain in the range of 18,000 and 18,200. A decisive move above 18,200, may take the index towards 18,500.

Views by: Rupak De, Senior Technical Analyst at LKP Securities.

3:59 PM

Comment :: US Fed outcome, weekly F&O expiry to keep markets choppy on Thursday

With all eyes on the US Fed, we will see the reaction in early trades on Thursday. Besides, the scheduled weekly expiry would further add to the choppiness. Some consolidation can’t be ruled out in the index but the tone is likely to remain positive till Nifty manages to hold 17,850 levels. We thus reiterate our view to focus on stock selection. 

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

3:50 PM

Currency check :: Rupee ends at 81.82/$ against Tuesday’s close of 81.88/$

3:49 PM

Buzzing stocks :: Adani Wilmar slides 4% post weak Q4 numbers

3:47 PM

Buzzing stocks :: MRF rallies 5% post strong Q4 results; other stocks rally too

3:45 PM

Buzzing stocks :: Manappuram Finance tanks 12% on reports of ED raid

3:43 PM

Buzzing stocks :: IndiGo gains 5% as Go First files for bankruptcy

>> SpiceJet adds 1%, Jet Airways 5%

3:41 PM

Broader indices shine even as benchmark indices languish in red

3:40 PM

Sectoral trends :: Most indices end in red; FMCG, pvt banks buck trend

3:39 PM

Sensex Heatmap :: Airtel, tech M, Axis Bank drag the 30-pack index

3:37 PM

CLOSING BELL :: Nifty ends below 18,100

3:35 PM

CLOSING BELL :: Sensex slips over 150 pts ahead of US Fed decision

3:23 PM

Bitcoin trading volume tanks massively by 58% to $492.9 billion in April

Bitcoin trading volume sank by almost $700 billion in April, historically seen as one of the strongest months for Bitcoin and other cryptocurrencies, bringing the biggest average monthly returns. READ MORE

3:12 PM

Godrej Properties sees 15% rise in FY24 bookings value after Q4 profit jump

The company expects bookings of 140 billion rupees for the current fiscal, higher than the 123.32 billion rupees in fiscal 2023, which beat its own forecast. READ MORE

2:57 PM

IMF says inflation, rate hikes to slow growth across Mideast this year

Rising interest rates, used by central banks worldwide to try to stem inflation's rise, increase the costs of borrowing money. That will affect nations carrying heavier debts, the IMF warned. READ MORE

2:47 PM

Adani Group shares weak; Adani Wilmar sheds 5% as Q4FY23 PAT sinks 56% YoY

Shares of Adani Enterprises, Adani Power, Adani Green Energy, Adani Total Gas, Ambuja Cements and Adani Ports and Special Economic Zone were trading 3-7 per cent lower intra-day. READ MORE

2:38 PM

Indian Oil Corp plans green jet fuel plant worth $10 bn to meet demand

The International Civil Aviation Organization last year adopted a target to cut emissions to net zero by 2050, and SAF has long been seen as the industry's fastest way to reduce emissions. READ MORE

2:27 PM

Earnings Alert:: Havells India Q4 net flat at Rs 352 cr; stock up 1%

Havells India reported a net profit of Rs 351.71 crore for Q4FY23 as against Rs 352.95 crore in Q4FY22. Total income was up 9.8 per cent YoY at Rs 4,896.40 crore.

2:14 PM

Manappuram Finance slumps 14% as ED raids premises in money laundering case

As per PTI, the raids were being undertaken to gather evidences related to allegations that the company collected public deposits worth over Rs 150 crore in contravention of RBI guidelines. READ MORE

2:01 PM

Asian Markets Update:: Major indices decline around 1%

Source: Yahoo Finance

1:48 PM

Adani Wilmar reports 60% fall in net profit in Q4FY23, revenue up 7%

Adani Wilmar Q4 results: In the year ended March 31, 2023, the company's net profit fell 28% to Rs 582 crore as compared to Rs 804 crore in FY22. READ MORE

1:40 PM

Earnings Alert:: MRF Q4 net soars 162%; stock jumps 5%

MRF today reported 162 per cent surge in Q4 net profit to Rs 410.66 crore for the quarter ended March 2023 when compared with Rs 156.78 crore in the quarter ended March 2022. Total income rose 10 per cent YoY to Rs 5,793.19 crore.

 

1:32 PM

SpiceJet plans to revive 25 planes as Go First files for bankruptcy

A day after Go First suspended its flights and started the insolvency process, SpiceJet on Tuesday announced that it has mobilised a plan to revive 25 grounded planes. READ MORE

1:22 PM

Go First bankruptcy: IndiGo, SpiceJet good momentum plays, say analysts

Apart from IndiGo, Tata group-owned Air India, could be the second key beneficiary given its strong fleet and balance-sheet strength. READ MORE

1:10 PM

Twitter played a role in Silicon Valley Bank's collapse, shows research

Prior to Silicon Valley Bank’s March 10, 2023, collapse, conversations on Twitter among investors about the bank spiked – helping fuel the SVB bank run. As we explain in our new working paper, “Social media as a bank run catalyst,” those tweets also destabilized other financial institutions with weak balance sheets. READ MORE

12:58 PM

ALERT: ED raids Manappuram Finance premises in money laundering case; stock plunges 12%

>> As per PTI, the ED conducted searches to gather evidences related to allegations of collecting public deposits worth over Rs 150 crore by the company in contravention of Reserve Bank of India (RBI) guidelines.

 

>> A total of four premises, including the headquarters of the company in Thrissur and those of its promoters are being searched, it said. 

 

12:58 PM

Price hikes to favor Hero Moto's Q4 revenues; margins may expand: Analysts

At the bourses, shares of Hero MotoCorp have declined over 8 per cent so far this calendar year (CY23), as against 0.8 per cent rise in the S&P BSE Sensex. READ MORE

12:46 PM

Gravita India hits 52-week high; up 11% on huge volume day after Q4 results

A combined 2.2 million equity shares representing 3.1 per cent of total equity of Gravita India had changed hands in intra-day deals on the NSE and BSE. READ MORE

12:35 PM

JSW Steel to invest $145 mn to upgrade operations in USA manufacturing

On the objective behind the move, JSW Steel USA Ohio said it aims to meet the demand for quality steel products that are melted and manufactured in the US. READ MORE