Sensex, Nifty end flat after choppy day; financials fall, Godrej Prop up 9%

CLOSING BELL: Bajaj Finance, Asian Paints, IndusInd Bank, ICICI Bank, Nestle India, HUL, Reliance Industries, HDFC Bank, Axis Bank, and SBI were the top laggards on the Sensex index

4:13 PM

Comment :: 'Inflation data will be crucial in determining the market trend'

Sentiments in the domestic market improved after the RBI’s decision to keep rates unchanged, coupled with positive revisions in GDP and inflation forecasts. The positive quarterly business updates from auto and real estate firms caused strong movements in their respective sectors, but the overall mood was slightly dampened by solid US job data, which raised fears of further rate hikes by the Fed. The release of inflation data in India and the US, along with the FOMC minutes, have now become crucial in determining the market trend.

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

4:08 PM

Tech View :: Will Bank Nifty see short covering?

The BANK NIFTY index faced selling pressure from higher levels after a strong rally last week. The index, if it fails to sustain above the level of 41,200, can witness some profit booking towards 40,600-40,500 levels. The upper resistance, if taken out, will lead to further short covering towards the 42,000 level.

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

4:03 PM

Tech View :: 'Nifty is approaching consolidation phase in the immediate short term'

The Nifty continued with positive momentum and closed with gains for the sixth consecutive trading session. On the daily chart, we can observe that the Nifty has faced selling pressure from the zone of 17,680 – 17,700 where resistance in the form of the downward sloping trendline and the daily upper Bollinger band is placed.

The hourly momentum indicator has a negative crossover along with a negative divergence which indicates loss of momentum on the upside. Considering that prices have reached a minor resistance and with the momentum also not supportive can lead to a consolidation in the immediate short term.

Crucial support is placed at 17,550 – 17,500 while immediate hurdle is placed at 17,680 – 17,700. Overall, the uptrend is still intact and we expect Nifty to target levels of 17,800 from short term perspective.

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

3:59 PM

Tech View :: Nifty suitable for 'buy-on-dip' above this level

Nifty remained volatile within a narrow range before closing on a muted note. On the daily chart, the index has maintained its position above the breakout zone. The momentum oscillator RSI is in bullish crossover and rising. The market continues to remain buy-on-dips as long as it sustains above 17,500. On the higher end, immediate resistance is visible at 17,700; above which the index may move up towards higher levels.

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

 

3:57 PM

Currency check :: Rupee ends at 81.98/$ against Thursday's close of 81.89/$

3:54 PM

Buzzing stock :: Rossari Biotech spurts 19% in fag-end buying

3:52 PM

Buzzing stock :: All 10 Adani stocks end in green after group issues clarification on offshore funding

Adani Group said that the transactions that have been inquired about in the report have been publicly disclosed.

 

"In fact, as publicly disclosed on January 18, 2021, and January 23, 2021, the Adani Group's promoters raised $2 bn through the sale of a 20 per cent stake in Adani Green Energy Ltd (AGEL) to TotalEnergies of France (then Total Renewables SAS), a fact the Financial Times contemporaneously reported but chose to ignore completely in the 22 March 2023 story," the company said.

 

3:48 PM

Buzzing stock :: Tata Motors hits 6-month high in intra-day trade

Tata Motors' wholesales of 107,386 units at JLR for Q4FY23, comes as a positive development as, during the last call, the company had guided for wholesales at over 80,000 units

3:46 PM

Buzzing stock :: Godrej Properties leaps 9% on best-ever quarterly sales in Q4

Godrej Properties soared 9 per cent after the company reported highest-ever quarterly and annual sales. The company reported total bookings of Rs 4,051 crore in January-March quarter (Q4 FY23). In entire FY23, booking value grew by 56 per cent year-on-year (YoY) to Rs 12,232 crore.

 

3:43 PM

Broader markets :: Sea of green even as frontline indices end flat; Midcaps lead

3:41 PM

Nifty 50 Losers:: Bajaj Finance, HUL, Tata Consumer, Asian Paints slip over 1%

3:40 PM

Nifty 50 Gainers:: Tata Motors soars 5%; ONGC, Adani Enterprises also shine

3:38 PM

Sectoral check :: Realty index outshine for second day

3:36 PM

Sensex Heatmap :: Financials, FMCG, RIL cap gains on the index

3:34 PM

CLOSING BELL:: NSE Nifty50 settles 25 pts higher at 17,624

3:33 PM

CLOSING BELL:: S&P BSE Sensex edges 14 pts up, ends at 59,847

3:29 PM

United Breweries hits 52-week low; dips 17% in 3 months on margin concerns

In the October-December quarter (Q3FY23), UBL's Ebitda (earnings before interest, taxes, depreciation, and amortization) was at 4.5 per cent, dragged down by steep rise in material costs, the impact of weak state mix, route to market change in Tamil Nadu (TN), and the impact of a change in excise policy in Delhi. READ MORE

3:21 PM

ALERT :: Zydus Lifesciences receives final approval from US FDA for Azithromycin tablets

3:09 PM

Global Check:: UK stock futures rally up to 1%; US flat

Source: Investing.com

2:56 PM

Adani Green, Adani Enterprises shares jump after group issues clarification

The share price of Adani Green Energy and Adani Enterprises jumped after the group issued a clarification on an earlier report by the Financial Times (FT). The FT report stated that half of all the foreign direct investment (FDI) into the conglomerate came from offshore entities linked to Gautam Adani's family.  READ MORE

2:44 PM

Market Check:: Realty index up over 3.5%; Godrej Properties, DLF lead

2:30 PM

Market Check:: BSE Bankex down 0.5%; IndusInd, ICICI Bank weigh

2:18 PM

Nifty Realty index rallies 7% in two days after RBI keeps repo rate unchanged

This move would provide further boost to the affordable and mid-income housing segments, analysts said. READ MORE

2:07 PM

Market Check:: Adani Group shares rally up to 5%

1:58 PM

Foreign portfolio investors pull out Rs 11k cr from energy, finance, IT

Turn their attention to capital goods, construction, FMCG, consumer durables in March. READ MORE

1:46 PM

Trade talks with UK still on, reports of pause 'baseless': MEA official

In a bid to bring negotiations back on track, the UK Home Office is planning to make an announcement in the coming weeks and a crackdown on Sikh extremists. READ MORE

1:37 PM

News Alert:: EID-Parry announces Rs 4/share dividend; stock up 1%

1:26 PM

L&T hits record high on strong business outlook; stock jumps 9% in 6 days

On Monday, L&T announced that the hydrocarbon business of the company secured a significant order under its AdVENT (Advanced Value Engineering and Technology) business vertical. READ MORE

1:13 PM

News Alert:: Sona Comstar opens new plant in Pune; stock flat

Sona BLW Precision Forgings (Sona Comstar) has inaugurated its second-largest manufacturing plant in Chakan, Pune.

 

According to a release issued by the company to the BSE, the new plant manufactures driveline products for EV and non-EV applications and serves customers in India and globally. 

1:03 PM

News Alert:: Veranda Learning Solutions ties with SASTRA University; stock down 2%

SASTRA University is collaborating with J.K. Shah Classes, part of Veranda Learning Solutions Limited to launch Bachelor of Commerce (B. Com) Online course with CA coaching available through a hybrid model comprising online and offline modules.