Stock Market Highlights, April 30: Benchmarks sink in fag-end; Sensex drops 189 pts

Stock Market Highlights updates, Tuesday, April 30, 2024: The Nifty50 index hit a record high of 22,783.35 levels in intraday deals, led by M&M

3:51 PM

Tech View :: 'Nifty may remain sideways in near-term'

Nifty witnessed selling pressure as it encountered resistance near the previous swing high, resulting in a weak closing. Other indicators such as the 20-day Simple Moving Average (SMA) and the 50-day SMA are positioned below the index value, suggesting that the ongoing positive trend remains intact. The Relative Strength Index (RSI) also indicates a bullish crossover. Over the next few days, the trend in the headline index might remain sideways unless it breaks above the all-time high of 22783. On the downside, immediate support is placed at 22500, below which the index might decline further.

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

3:50 PM

Tech View :: 'Bank Nifty witnessed a volatile trading session during expiry day'

The Bank Nifty witnessed a volatile trading session during the expiry day, with bulls dominating the first half and bears taking control in the second half. Although the index fell short of reaching the 50,000 mark, the overall sentiment remains bullish. Dips in the index should be seen as buying opportunities, especially with strong support noted around the 49,000 mark, where the highest open interest lies on the put side.

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

3:47 PM

Currency check :: Rupee adds 4 paise vs US dollar

3:40 PM

Sectoral indices :: Media, Metal, IT indices sink 1%

3:38 PM

Broader markets :: Mid, SmallCap indices outshine benchmarks, end in green

3:37 PM

Sensex Heatmap :: IT, steel stocks drag benchmarks lower

3:35 PM

Closing Bell :: Nifty ends in red after hitting record high intraday

3:33 PM

Closing Bell :: Sensex drops in fag-end, slides nearly 200 pts

3:21 PM

These 2 SME stocks more than double investors' wealth on market debut

Shares of Emmforce Autotech locked in upper circuit of 5 per cent at Rs 195.51 on the BSE on Tuesday at 02:47 pm, nearly doubled against its issue price of Rs 98 per share. The stock of auto components & equipment company listed at Rs 186.20 on the BSE. Around 1.09 million equity shares have changed hands, and there are pending buy orders for 9.6 million shares on the BSE, data shows. READ MORE

3:03 PM

Gillette India shares zoom 10% on strong Q4 performance

Gillette India's topline growth jumped nearly 10 per cent to Rs 680.7 crore in Q4FY24, as opposed to Rs 619.1 crore in the same quarter a year ago (Q4FY23). READ MORE

2:54 PM

ALERT:: Fino Payments Bank Q4 net rises 14%; stock up 1%

Fino Payments Bank today reported a net profit of Rs 25.21 crore for the quarter ended March 2024 as against Rs 22.08 crore in the corresponding quarter a year ago. Total income rose 24.1 per cent year-on-year to Rs 401.30 crore from Rs 323.43 crore.

2:43 PM

ALERT:: Exide Q4 net jumps 36%; stock up 3%

Exide Industries on Tuesday reported a 36.54 per cent year-on-year rise in standalone net profit at Rs 283.75 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 207.80 crore during the same period last year (Q4FY23). READ MORE

2:32 PM

Mumbai is luxury market leader, over 1300 flats sold above Rs 4 cr in Q1

The city boasts over 40 per cent of the country's total luxury housing inventory, attracting high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs). READ MORE

2:22 PM

Jubilant FoodWorks rallies 5% on partially acquiring stake in O2 Renewable

Jubilant FoodWorks stock: In January 2024, Jubilant FoodWorks had received approval to invest and enter into a Power Purchase Agreement and Shareholders Agreement with O2 Renewable Energy. READ MORE

2:12 PM

ALERT:: NSE Nifty 50 hits new all-time high at 22,779.75

2:04 PM

RBI bought 19 tonnes of gold in March qtr. What fueled the buying spree?

The RBI net demand totaled 290 tonnes in the March 2024 quarter, up 1 per cent as compared to 286.2 tonnes in the March 2023, strongest start to any year on record, World Gold Council (WGC) said. READ MORE

1:51 PM

Asian Market Update:: Nikkei outperforms peers

1:40 PM

Polycab India hits all-time high; stock soars 52% from January low

The stock of the cables and wires (C&W) and fast moving electrical goods (FMEG) company has recovered 52 per cent from its low of Rs 3,812.35 hit on January 11, 2024. READ MORE

1:24 PM

M&M, Tata Motors, Maruti Suzuki: What is driving the rally in these stocks?

With 3XO's launch, M&M management aims to be among the top two players in the compact SUV segment over the course of three years. READ MORE

1:09 PM

Gold price rally could cut India's demand to four-year low, says WGC

Domestic prices of gold hit a record high this month of 73,958 rupees ($885.72) per 10 grams. They have risen more than 13% in 2024 after rising more than 10% in 2023. READ MORE

12:55 PM

Bank of Japan upbeat on consumption, rising service prices, pay hikes

Japanese service prices are rising and bumper pay hikes offered by firms will boost household income later this year, the Bank of Japan said, underscoring its conviction the economy is making progress towards sustainably achieving its 2 per cent inflation target. READ MORE

12:41 PM

India biggest importer of seaborne Russian crude in April, beats China

India's appetite for Russian oil revives as cheaper Venezuelan supplies dry up after the US again imposes sanctions on Latin American nation. READ MORE

12:29 PM

Auto, tyre shares on a roll; Nifty Auto, M&M scale new highs; here's why

Auto, tyre stock update: Shares of auto and tyre makers rallied up to 5 per cent in intra-day deals on Tuesday, lifting the Nifty Auto index to a new all-time high on upbeat outlook. READ MORE

12:16 PM

Market Check :: Sensex trades rangebound on Tuesday

11:59 AM

NSE bonus issue: How to buy and sell unlisted shares?

According to the trading platform, Unlisted Zone, shares of NSE were quoted at Rs 4,800 per share. Buyers opt to buy the shares in multiples of 100 shares. The online platform shows that NSE shares at present trade at 52-week, whereas the 52-week low stands at Rs 3,400. READ MORE

11:46 AM

ALERT :: PSP Projects receives new order worth Rs 236.32 crore

11:29 AM

UltraTech stock at Rs 11,500? Check latest target price post Q4FY24 results

UltraTech Cement’s consolidated grey cement volume rose 11 per cent on a year-on-year (Y-oY) basis while domestic sales also jumped 11 per cent. READ MORE

11:17 AM

Sebi probing Linde India for related party transaction violation

Sebi will be considering punitive measures once the ongoing investigation reaches its conclusion. The regulator has issued summons to key personnel and independent directors of the firm. However, Linde and its independent directors have moved the Bombay High Court against the summons and investigation initiated by Sebi. READ MORE

11:06 AM

ALERT :: Granules India receives ANDA approval for Colchicine capsules

The US Food & Drug Administration (USFDA) has approved Abbreviated New Drug Application (ANDA), filed by Granules Pharmaceuticals, Inc. (GPI), a wholly owned foreign subsidiary of Granules India, for Colchicine Capsules, 0.6 mg.

The current annual US market for Colchicine Capsules is approximately $55 million, according to MAT Feb 2024, IQVIA/IMS Health.
 

10:52 AM

ALERT :: Greaves Electric Mobility introduces India's first high-performance family electric scooter

Greaves Electric Mobility Private Limited (GEMPL), the e-mobility arm of Greaves Cotton Limited, introduced its first high-performance family electric scooter, the Ampere Nexus, starting at Rs 1,09,900 (ex-showroom).

Check details, features here