Sensex ends choppy day 115 pts up, Nifty near 17,400; OMC, gas stocks slide

CLOSING BELL: Gas stocks, including Mahanagar Gas and Indraprastha Gas, dropped up to 6 per cent after the government kept domestic gas prices unchanged

4:35 PM

COMMENT:: Central banks may remain hawkish post OPEC+ surprise move

"Investors were of the view that the easing price pressure would provide the central bank with leeway to pause the rate hike. However, the surprise production cut by OPEC+ has fuelled concerns about inflationary pressure, which may prompt central banks to remain hawkish. The downside pressure in the market was mitigated as auto stocks rallied in response to the latest sales data, indicating a surge in demand. Additionally, India's manufacturing PMI exceeded expectations, demonstrating its swiftest growth rate in three months due to increased output and new orders."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:34 PM

Nifty: Decisive move above 17,500 may induce a strong directional move

"Following a positive start, the benchmark index Nifty remained mostly range bound as the traders preferred to remain lean during the truncated week. The trend for the short term, however, remains positive as Nifty closed well above the support level of 17,200. The bulls are going to have the upper hand as long as Nifty remains above 17,200. On the higher end, 17,500 is likely to act as crucial resistance for the Nifty. A decisive move above 17,500 may induce a strong directional upmove."

 

- Rupak De, Senior Technical Analyst at LKP Securities

 

4:33 PM

COMMENT:: 17,000 to act as strong support for Nifty in April series

"The Nifty trend with last Friday's move has switched to a buy on dips approach and has become sideways-to-up from a sideways-to-down trend. The reason for the trend being sideways-to-up and not completely up is because the Nifty is still in a broad-based sideways range between 16,750 and 18,220. This is an intermediate up-move in an otherwise broad sideways trend on the higher time frames. 17,000 will remain a very strong support for the Nifty Index going forward in April as the 17,000 puts has the highest open interest on the put side."

 

- Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform

 

4:24 PM

Avalon Technologies IPO off to a slow start; Here's what brokerages recommend

Electronic manufacturing company Avalon Technologies' initial public offering (IPO) opened for subscription on April 3, and will close on April 6, 2023. The price band of Rs 865-crore public issue is set at Rs 415-435 per share. The IPO was subscribed merely 3 per cent as of 4 PM on Monday. READ MORE

4:20 PM

KPIT Technologies slumps 12% after JP Morgan downgrades stock

JP Morgan initiated coverage on the stock with an "underweight" rating and a target price at Rs 540 per share. READ MORE

 

 

4:17 PM

Rail Vikas Nigam soar 10% after company bags orders from NHAI, Indian Railways

The average trading volumes on the counter jumped nearly five-fold as around 5 million shares changed hands on the BSE. READ MORE

4:14 PM

Shares of city gas distribution tumble; MGL, IGL fall up to 6%

The government kept domestic gas prices unchanged at $8.6/mmBtu on a provisional basis from April 2023 to September 2023. READ MORE

4:10 PM

Manappurm Finance hits 52-week high; up 11% in a week on improved outlook

CRISIL Ratings believes MFL's capitalisation and asset quality will remain strong supported by its gold loan business. READ MORE

4:09 PM

Orient Electric dips 5%, nears 52-week low as MD & CEO Rakesh Khanna resigns

Shares of Orient Electric dipped 5 per cent on Monday as Rakesh Khanna was set to step down from the post of Managing Director & Chief Executive Officer (MD & CEO) from the close of business hours today (April 03, 2023). READ MORE

4:03 PM

ONGC, Oil India rally after Crude Oil prices surge post OPEC+ output cut

Sustained higher crude oil prices and gas realisations can result in better profitability for upstream oil and gas companies, analysts said. READ MORE

3:56 PM

Market Breadth was extremely positive; Gainers outnumbered Losers in 3:1 ratio

3:54 PM

BSE Smallcap Heatmap:: TTK Healthcare, Andhra Petro hit 20% upper limit

3:52 PM

BSE Midcap Heatmap:: GMR Infra, Voda Idea shine; HPCL, PolicyBazaar whine

3:49 PM

Nifty PSU Bank index advances 1%; UCO Bank zooms 7%

3:48 PM

Nifty Auto index rallies 1.5%; Hero MotoCorp, Bajaj Auto, Maruti lead

3:45 PM

Smallcaps outperform in the broader market; index rises up to 0.7%

3:41 PM

Nifty 50 Losers:: BPCL sheds 4%; Adani Enterprises, Apollo Hospitals dip up to 2%

3:39 PM

Nifty 50 Gainers:: Hero MotoCorp, Coal India jump over 3%

3:37 PM

Sensex 30 Heatmap:: 22 Gainers v/s 8 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 gained 38 points to settle at 17,398

3:33 PM

CLOSING BELL:: S&P BSE Sensex ends 115 points higher at 59,106

3:22 PM

Indian IPO pipeline strong, other markets 'pretty dead': Link group execs

Link Intime India, a unit of Australia-headquartered Link group, is a leading registrar and share transfer agent (RTA), a Sebi-registered intermediary that maintains investor records for an initial public offering (IPO) and post-listing. READ MORE

3:11 PM

SAIL produces record 18.28 MT crude steel; 19.40 MT hot metal in FY23

State-owned SAIL has produced a record 18.28 million tonnes (MT) of crude steel during financial year 2022-23, registering a year-on-year rise of 5.3 per cent. READ MORE

3:00 PM

Here's why KPIT Technologies tumbled 8% on Monday

JP Morgan has initiated coverage on the stock with an "underweight" rating and a target price at Rs 540 per share. READ MORE

2:48 PM

Mahindra records rise in total sales by 21% in March to 66,091 units

Mahindra & Mahindra (M&M) on Monday said its total sales increased by 21 per cent year-on-year to 66,091 units in March. READ MORE

2:36 PM

Gold, debt funds, insurance: What to do with your investments in FY24

The start of a new financial year is an appropriate time to review your investment, insurance and loan portfolio. Many issues crop up within these portfolios inadvertently. An annual review can mitigate these issues before they balloon into major problems. READ MORE

2:23 PM

Market Check:: Smallcap index up 1%; Andhra Petro, TTK Health zoom up to 20%

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2:11 PM

Rail Vikas Nigam surges 9% after it bags order from NHAI, Indian Railways

The average trading volumes on the counter jumped three-fold as around 32.98 million shares changed hands on the NSE and BSE. READ MORE 

1:58 PM

SpiceJet hives off cargo and logistics biz into separate entity from Apr 1

The decision to hive off SpiceXpress is in sync with the company's long-term business plan and will unlock significant valuation of the logistic business, SpiceJet Ltd Chairman Ajay Singh said. READ MORE

1:43 PM

Global Check:: Major Asian markets hold steady gains, up over 0.5%

Source: Yahoo Finance