Stock Market Highlights, April 3: Sensex, Nifty end flat; smallcaps extend rally; Bharti Hexa IPO subscribed 30%

Stock market Update on Wednesday, April 03: Till 3:30 PM, Bharti Hexacom IPO was subscribed 30 per cent led by retail investors

3:48 PM

Tech View :: 'Overall sentiment for Nifty remains robust'

Nifty remained volatile throughout the day after an initial weak start attributed to negative global cues. Despite this, the overall sentiment remains robust as the index sustains itself above key moving averages. The Relative Strength Index (RSI) indicates bullish momentum in the short term. Over the short term, the index may trend towards 22,650. Support is positioned at 22,350 on the lower end.

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

3:46 PM

Tech View :: Bank Nifty to consolidate in this range

The Bank Nifty index experienced buying pressure from lower levels and managed to sustain above the support zone of 47,500-47,400.

However, it faces immediate resistance at 48,000, and a decisive breakthrough could trigger further short-covering rallies towards the 49,000 mark.

It's anticipated to consolidate within the range of 47,400-48,000 leading up to the RBI policy announcement, with potential trending moves expected thereafter.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:44 PM

Currency check :: Rupee slips 5 paise vs US dollar

3:43 PM

IPO Alert :: Bharti Hexacom issue subscribed 29% till 3:30 PM on day 1

3:41 PM

Broader markets extend rally; SmallCap index outperforms for 2nd day

3:40 PM

Sectoral trends :: Realty, FMCG stocks slide

3:39 PM

Sensex Heatmap :: NTPC, IT, Bajaj Fin shares cap downside

3:37 PM

Closing Bell :: Nifty ends below 22,450

3:37 PM

Closing Bell :: Sensex swings 600 pts, ends flat

3:28 PM

ALERT :: NLC India mulls selling renewable assets worth Rs 6,000 crore, reports Bloomberg

3:18 PM

BSE Midcap index hits new high; analysts see more upside in months ahead

"The sell-off seen in March was par for the course. It is quite normal for the markets to see some profit taking as the financial year ends. That said, I think the worst is over for the mid-and small-caps and investors can start picking selectively from these two market segments," said Kishor Ostwal, managing director, CNI Research. READ MORE

3:03 PM

'Goldilocks' economy to prompt RBI to keep rates on hold: Economists

As India heads into a general election this month, the economy is growing faster than expected amid signs prices are trending lower though food inflation remains a risk. READ MORE

2:52 PM

Japan's economy recovers to full capacity, keeps rate hike prospects alive

Japan's economic output recovered to full capacity for the first time in about four years in the October-December quarter, a positive sign that may allow the central bank to raise interest rates again. READ MORE

2:38 PM

Smallcap firm Ramky Infrastructure soars 7% on raising Rs 300 cr via NCDs

The company's stock has rallied 26 per cent in the last three trading days while merely it grew 3.02 per cent in the last six months. READ MORE

2:25 PM

Sector ALERT:: Realty index down 2%; DLF, Godrej Properties, Lodha top drags

2:12 PM

Forbes Billionaires 2024 list: Ambani tops India with net worth of $116 bn

Mukesh Ambani retained his position as the ninth richest person in the world and both India's and Asia's richest person in 'Forbes World's Billionaires List 2024: The Top 200'. READ MORE

1:59 PM

Global check:: Asian markets end with notable losses; Nikkei, Hang Seng slip 1%

Source: Yahoo Finance

1:48 PM

Vedanta gains 14% in five sessions. Here are four factors fuelling rally

Shares of Anil Agarwal-led commodity major Vedanta are up for a fifth straight trading session on Wednesday. After soaring 14 per cent in these five sessions, the stock has hit its highest level since February 2023. Here are five factors behind the rally: READ MORE

1:34 PM

This beaten down Ashish Kacholia-owned stock has zoomed 65% in 3 days

In the past three trading days, the stock of the company, engaged in the business of trading agro based products, has zoomed 65 per cent from a level of Rs 458.10. Pior to this, the stock price of the company had more than halved, tanking 67 per cent, from its 52-week high level of Rs 1,374 touched on August 1, 2023. It had hit a 52-week low of Rs 453.75 on March 28, 2024. READ MORE

1:19 PM

ALERT :: Inox India receives Patent Rights

>> the Company has received Patent Rights from Patents Office, Government of India titled: 'A method for suspending inner vessels of Dewar-type container to store cryogenic fluid'
 

1:05 PM

ALERT :: Gold price hits record high

>> Gold tops Rs 69,600 on MCX

>> Hits $2280 in international market

12:51 PM

IPO ALERT :: Bharti Hexacom's issue subscribed 6% so far on Day 1

12:35 PM

ALERT :: IndiGo, Malaysia Airlines sign codeshare agreement

>> Malaysia Airlines and IndiGo have signed a Memorandum of Understanding (MoU) for a codeshare partnership and mutual cooperation agreement.

>> The agreement will enable both carriers to provide customers with more options and flexibility for seamless travels between Malaysia and India.

12:20 PM

First RBI MPC meet for FY25 starts today: Here is all you need to know

Experts anticipate the RBI will maintain the key interest rate unchanged in April, focusing on steering inflation towards the four per cent target, following alleviated concerns regarding economic growth, with GDP growth projected at nearly 8 per cent. READ MORE

12:04 PM

ALERT :: USFDA classifies inspection of Granules Pharmaceuticals as 'Voluntary Action Indicated'

>> GPI has received a communication from the US FDA indicating the inspection classification as 'Voluntary Action Indicated' (VAI).

>> The VAI inspection classification indicates that the US FDA will not take or recommend regulatory or enforcement action.

>> Granules Pharmaceuticals, Inc. (GPI) is a wholly-owned foreign subsidiary of Granules, located in Chantilly, Virginia, USA.
 

11:51 AM

SAIL at 14-yr high; Can steel stocks extend rally? Here's what charts say

Tata Steel reported a record-breaking 20.5 million tonnes of steel production in FY24. SAIL too posted 5 per cent growth in crude steel production at 19.2 million tonne for the financial year ended March 2024. SAIL also achieved its highest-ever sales volume of 17.1 MT for the year. READ MORE

11:37 AM

This jewellery stock gained 4% today despite gold price hitting record high

Shares of PC Jeweller advanced 4.2 per cent to Rs 59.79 per share on the BSE in Wednesday's intraday trade after Karur Vysya Bank accepted the debt laden jewellery seller's one-time settlement offer. 

"Karur Vysya Bank Limited, vide its e-mail / letter dated April 02, 2024, has conveyed acceptance of 'One Time Settlement' proposal submitted by the company to settle the outstanding dues," PCJ said in an exchange filing. Read more

11:21 AM

Cochin Shipyard, Mazagon Dock, Garden Reach Shipbuilders rally up to 10%

Shares of ship building & allied services companies including Cochin Shipyard, Mazagon Dock Shipbuilders and Garden Reach Shipbuilders & Engineers rallied up to 10 per cent in Wednesday’s intra-day trade amid expectation of strong earnings and healthy order book position. In the past three trading days, these stocks have surged in the range of 16 per cent to 20 per cent.

Among the individual stocks, Cochin Shipyard (CSL) hit a record high of Rs 1,046.70, and surged 6 per cent on the BSE in intra-day trade today. While in the past three days, it has zoomed 20 per cent. Read more

11:03 AM

Sensex trims early losses; trades rangebound

10:46 AM

Small cap companies set to erase losses sparked by froth warnings

A key gauge of small-cap stocks in India is set to wipe out losses from last month’s lows, with bullish investors putting the regulatory warning about market froth behind them.

A eight-day rally has put the Nifty Smallcap 250 Index on course for reclaiming the Feb. 27 level when the securities regulator flagged the risk of a potential bubble in the smaller companies. Read more