Sensex, Nifty end flat after choppy day; Indiabulls RE sinks 20%, Zomato 6%

CLOSING BELL: Among sectors, the Nifty PSU Bank index fell nearly 3 per cent, followed by the Nifty Realty index (close to 1 per cent)

4:25 PM

COMMENT:: Markets relinquished gains on weak global sentiment

The domestic market relinquished its gains as weak global sentiments took hold. The upcoming US inflation figures have become the focal point in determining the global market trend. The US inflation rate, which is expected to remain unchanged at its March level of 5.0 per cent, is causing worries that the Fed will remain stricter for long. However, the sustained support from FIIs is guarding the domestic market from a steep correction.

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:24 PM

Bias to remain positive as long as Nifty holds 18,200

The Nifty index traded within a tight range of 18,345 and 18,229 throughout the day, showing a lack of strong directional momentum. However, the index remained above critical moving averages, which could indicate underlying strength in the market. Additionally, the Relative Strength Index (RSI) showed a positive crossover, suggesting bullish momentum. Overall, the outlook for the Nifty index remains positive, with technical indicators signaling potential for further upside. The sentiment remains positive until it falls below 18,200 decisively.

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:23 PM

Support for Bank Nifty visible at 42,800

The index witnessed profit booking after a steep rally in the preceding days, indicating that some traders were taking profits off the table. Support is at 42,800, which is expected to act as a cushion for the bulls. This means that if the index falls to this level, buyers are expected to enter the market and push the price back up. Resistance is at 43,500, which is a level that the index needs to surpass in order to reach an all-time high. If the price manages to break through this level, it could indicate a shift toward a bullish trend for the index.

 

- Kunal Shah, Senior Technical Analyst at LKP Securities
 

4:19 PM

Should you subscribe to Nexus Select REIT IPO? Here's what brokerages say

The Rs 3,200-crore initial public offering (IPO) of Nexus Select Trust Real Investment Trust (REIT) opened for subscription from today, with a price brand set in the range of Rs 95-Rs 100 per share. This is India's first REIT with rent-yielding retail real estate assets. The public issue will close on Thursday, May 11. READ MORE

4:17 PM

New phase of capex cycle to start soon, say analysts. Top stocks to bet on

Helped by a property upcycle, analysts at Jefferies believe various government initiatives are likely to drive capex going ahead. READ MORE

 

4:14 PM

L&T Q4 preview: Strong order inflow may drive profit up to 90% higher QoQ

Brokerages see a strong sequential growth in the company’s bottom-line in the March quarter of FY23 (Q4FY23) on the back of improved construction activity and lower commodity prices. READ MORE

4:12 PM

Mankind Pharma makes stellar debut; soars nearly 32% over issue price

Shares of Mankind listed at Rs 1,300, a 20 per cent premium over its issue price of Rs 1,080 on the National Stock Exchange (NSE) and the BSE. READ MORE

4:09 PM

Stock of this iron & steel products company has zoomed 102% in six weeks

Till 02:48 pm; a combined 9.8 million equity shares or 6.5 per cent of total equity of the company changed hands on the NSE and BSE. READ MORE

4:07 PM

Birlasoft soars 7% on heavy volumes post better-than-expected Q4 results

Deal signings during the quarter at $286 million TCV have been the best during the year under review, Birlasoft said. READ MORE

4:04 PM

Mahanagar Gas hits 52-week high; soars over 7% on margin improvement in Q4

The board recommended a final dividend of Rs 16 per equity share having face value of Rs 10 each (i.e.160 per cent) for FY23.

4:02 PM

Apar Industries plunges 15% on profit booking posts Q4 results

In past one year, the stock has zoomed 341 per cent, as against 14 per cent rise in the S&P BSE Sensex. READ MORE

3:58 PM

Kansai Nerolac surges 10% intra-day on healthy Q4 earnings; recommends 1:2 bonus

The good growth in infrastructure, core sector as well as automobile and real estate is likely to have a positive effect on the overall demand of paint for the industry in the long run. The stock eventually ended 1.5 per cent lower on Tuesday. READ MORE

3:55 PM

BSE Smallcap Heatmap:: AYM Syntex, Jai Balaji, Firstsource top gainers

3:51 PM

BSE Midcap Heatmap:: Tata Comm, TI India, Lodha zoom up to 6%; IRFC dips 5.5%

3:48 PM

Nifty PSU Bank index tumbles 2.8%; Indian Bank cracks 7%, PNB, Canara Bank, Central Bank over 3%

3:45 PM

Broader indices also end on a flat note

3:43 PM

Nifty 50 Losers:: UPL sheds 3%; SBI, ITC decline up to 2%

3:41 PM

Nifty 50 Gainers:: Divis Lab jumps 3%; IndusInd Bank, Coal India, TCS up over 1%

3:38 PM

Sensex 30 Heatmap:: 18 Gainers v/s 6 Losers

3:36 PM

CLOSING BELL:: NSE Nifty50 settled two pts higher at 18,266

3:33 PM

CLOSING BELL:: S&P BSE Sensex ends on a flat note, down three points at 61,761

3:22 PM

Three Adani Group firms lose endorsement of UN-backed climate group

Three Adani Group companies, including Adani Green Energy Ltd., have lost their endorsement from the world’s leading arbiter of corporate green goals, a blow to the industrial conglomerate’s attempt to reposition itself as a leader of India’s energy transition. READ MORE

3:11 PM

Global Check:: US, UK stock futures down around 0.5%

2:59 PM

Earnings Alert:: SRF Q4 net rises 16%; stock up 2%

SRF Q4FY23 net profit rose 16 per cent to Rs 580.70 crore when compared with Rs 500.49 crore in Q4FY22. Total income was up 13.1 per cent YoY at Rs 3,176.07 crore.

2:48 PM

Earnings Alert:: Chalet Hotels reports Q4 turnaround; stock flat

Chalet Hotels reported a net profit of Rs 39.20 crore for the quarter ended March 2023 as against a net loss of Rs 11.50 crore in Q4FY22. Total income more-than-doubled to Rs 345.80 crore from Rs 153.50 crore.

2:36 PM

Earnings Alert:: T D Power Q4 net jumps 37%; stock surges 3%

T D Power Systems reported a 36.7 per cent YoY growth Q4FY23 net profit at Rs 29.86 crore, backed by a 3.5 per cent rise in total income at Rs 221.95 crore.

2:25 PM

Earnings Alert:: Man Infra Q4 net profit, revenue soar over 100%; stock slips into red

Man Infraconstruction Q4 net profit more-than-doubled to Rs 81.60 crore for the quarter ended March 2023 when compared with Rs 37.40 crore in the corresponding quarter a year ago. Revenue from operations grew by 157 per cent YoY to Rs 680 crore.

2:17 PM

News Alert:: NCLT withhelds NAM Esates, Embassy One merger into IBREL; stock slumps 12%

The company informed BSE, that the sanction to the merger of NAM Estates Private Limited (“NAM Estates”) and Embassy One Commercial Property Developments Private Limited (“Embassy One”) into Indiabulls Real Estate (IBREL) has been withheld by the National Company Law Tribunal (NCLT), Chandigarh Bench.

2:03 PM

Birlasoft soars 9% on heavy volumes post better-than-expected Q4 results

Deal signings during the quarter at $286 million TCV have been the best during the year under review, Birlasoft said. READ MORE

1:52 PM

Earnings Alert:: Magadh Sugar Q4 net rises 6%; stock slips 2%

Magadh Sugar & Energy reported a 6.1 per cent growth in Q4FY23 net profit at Rs 35.05 crore as against Rs 33.02 crore in Q4FY22. Total income, however, declined 12.9 per cent YoY to Rs 299.38 crore.