Sensex soars 556 pts, ends at 2023 high; Nifty tops 18,250; HDFC twins lead

CLOSING BELL: The NSE Nifty 50 rallied 166 points. Index heavyweights HDFC, HDFC Bank and Reliance Industries contributed more than 60 per cent of the gain for Sensex.

4:06 PM

Tech View :: What's the next target for Nifty?

After a two-day consolidation, the Nifty has resumed its upmove. During the day it has broken and closed above the previous swing high of 18180 indicating that it has started the next wave on the upside. The low of 18042 made on 3rd May 4, 2023, shall act as a crucial support level and as long as the nifty manages to hold above this level it is likely to keep stretching higher. On the upside the immediate hurdle lies at 18350 – 18370 where the weekly upper Bollinger band is placed. In terms of levels, 18074 – 18050 shall act as a crucial support zone while 18350 – 18370 is the immediate hurdle zone.

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

3:58 PM

COMMENT :: What all happened in the markets today?

Following a widely expected rate hike by the Fed and consistent foreign support, the domestic equities resumed its bullish momentum, driven by gains across major sectors. However, the US market faced losses as the Fed reiterated concerns over elevated inflation despite softening its language on future rate hikes. Signs of returning contagion fears in regional US banks also weighed on the global market mood.

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

3:46 PM

Currency check :: Rupee ends at 81.80/$ against Wednesday’s close of 81.81/$

3:46 PM

ALERT :: Benchmarks turn positive on YTD basis, end at 4-month high

3:46 PM

Buzzing stock :: Zomato rises 28% in 4 months

3:44 PM

Buzzing stock :: ABB India spurts 5%, hits new high post quarterly results

3:42 PM

Buzzing stock :: Petronet LNG slides 4% on weak Q4 numbers

3:39 PM

Broader market indices advance in-line with benchmarks

3:38 PM

Sectoral trends :: Nifty Financial Services rises nearly 2%, Metal, PSU bank indices over 1%

3:36 PM

Sensex Heatmap :: Bajaj. HDFC twins lead rally on 30-pack index

3:34 PM

CLOSING BELL :: Nifty rises above 18,200

3:33 PM

CLOSING BELL :: Sensex zooms over 550 pts despite rate hike by US Fed

3:26 PM

Global Check:: UK stock futures down around 0.5%; US flat

Source: Investing.com

3:13 PM

Earnings Alert:: Dabur Q4 net up 2.2%; stock down over 1%

Dabur reported a marginal 2.2 per cent rise in Q4 net profit at Rs 300.80 for the quarter ended March 2023 as against Rs 294.20 crore in Q4FY22. Total income was up 6.4 per cent at Rs 2,677.80 crore.

3:05 PM

Zomato rises 4%, hits 5-month high; stock surges 28% in one month

Motilal Oswal Financial Services (MOFSL) had, last month, initiated coverage on Zomato with a 'BUY' rating and Rs 70 target price. READ MORE

2:54 PM

Britannia's Q4 revenues may rise up to 14% YoY led by volumes, say analysts

Though higher advertising spends may have some impact on EBITDA margins sequentially, price hikes would help expand margins up to 231 basis points (bps), said analysts. READ MORE

2:45 PM

Brokerages snip price targets of AMCs on feeble Q4 earnings

Brokerages have lowered the price targets of asset management companies (AMCs) since they failed to beat revenue growth expectations in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23). The regulator’s plans to lower the fee charged by AMCs also added to concerns. READ MORE

2:33 PM

Earnings Alert:: HDFC Q4 net jumps 19.6%; stock up over 2%

HDFC today reported a strong 19.6 per cent growth at Rs 4,425.50 crore in Q4 standalone net profit for the quarter ended March 2023 when compared with Rs 3,700.32 crore in the year ago period. Total income increased by 35.6 per cent YoY to Rs 16,692.12 crore.

2:25 PM

New mutual fund schemes with performance-based fee on the anvil

The Securities and Exchange Board of India (Sebi) is considering a proposal to allow mutual funds (MFs) to charge a fee based on their performance, said Ananta Barua, whole-time member of the markets regulator. He said the proposal is being reviewed by a working group formed to look into cost structures. READ MORE

2:17 PM

Rane Engine Valve freezes at 20% upper circuit on strong Q4 performance

REVL said sales to India OE customers grew by 28 per cent supported by strong off-take from passenger vehicle and commercial vehicle customers. READ MORE

2:06 PM

News Alert:: MIC Electronics wins Rs 1.74 cr oder; stock hits 10% upper limit

MIC Electronics has received Letter of Acceptances from Rajkot Division of Western Railway zone for an order worth Rs 1.74 crore. 

1:54 PM

India may be the top FPI destination once US Fed pauses rate hike: Analysts

The trend, analysts said, could continue going ahead as the US Federal Reserve may soon halt its interest rate hike cycle, which will strengthen foreign fund inflows into emerging markets, including India. READ MORE

1:43 PM

Earnings Alert:: Responsive Inds Q4 net jumps 51%; stock up 3%

Responsive Industries Q4 net surged over 51 per cent YoY to Rs 2.72 crore for the quarter ended March 2023 as against Rs 1.80 crore in Q4FY22. Total income, however, was down 17.3 per cent YoY at Rs 144.54 crore.

1:34 PM

RIL gets nod from shareholders, creditors to demerge financial services arm

RSIL will be renamed Jio Financial Services Ltd (JFSL) and RIL shareholders will receive one share of JFSL for each share they own. READ MORE

1:24 PM

Asian Markets Update:: A mixed day

Source: Yahoo Finance

1:11 PM

Go First losses exceed combined profit of listed Wadia group firms

The mounting losses at Go Airlines (Go First) have become financially unsustainable for the Mumbai-based Nusli Wadia group. In 2021-22, for the first time, the net loss of the air carrier exceeded the combined net profit of listed firms in the group. READ MORE

12:59 PM

India's exports may hit $900 bn despite global headwinds in FY24: Exporters

Merchandise exports could expand to between $495 billion and $500 billion, while services exports could touch $400 billion in the year ending March 2024. READ

12:41 PM

MRF nears 52-week high on healthy Q4 results; stock rallies 8% in 2 days

Analysts at Motilal Oswal Financial Services (MOFSL) said that MRF's Q4FY23 performance surprised positively as lower raw material costs boosted Ebitda margin to 14.7 per cent. READ

12:27 PM

29 out of Nifty 500 in overbought zone; ABB, Apar Inds signal 20% upside

While it is risky to be bullish on the stock trading in the overbought category, the underlying trend must to be followed at all time.READ

12:17 PM

Patel Eng surges 11% on winning Rs 500 crore order