Sensex dips 184 pts as RIL, HDFC twins weigh; Avalon Tech tanks 9% on debut

CLOSING BELL: The broader markets outperformed; Midcap and SmaIlcap indices were up 0.5 per cent and 0.2 per cent, respectively.

4:01 PM

Tech View :: Strategy for Nifty Bank index

The BANK NIFTY index continued to witness sideways momentum and is stuck in a broad range between 42,000-42,500. The options data also confirm where 42000pe and 42500Ce are where significant put writing is visible. The index as long as it sustains above 42000 will remain in a buy-on-dip mode and if breached will lead to a further correction towards the 41,500 level.

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

3:56 PM

Tech View :: 'Expect sector rotation and stock specific price action during this phase of consolidation'

The Nifty opened on a positive note and consolidated for most part of the day. It traded within the range 17863 – 17574 of the previous trading session. The hourly Bollinger bands are contracting on account of the sideways price action and is also suggesting rangebound price action. The daily momentum indicator has a positive crossover which is a buy signal. Thus, we are getting divergence signals from price and momentum indicator and this often results in a rangebound movement. During this phase of consolidation, we can expect sector rotation and stock specific price action. The range of consolidation is likely to be 17500 – 17800 for the next few trading sessions.

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

3:52 PM

COMMENT :: What all happened in the markets today?

The banking stocks pared the performance during the day while the market was grappling with the sell-off in the IT sector. However, the IT sector experienced a marginal relief rally, aided by bottom fishing, as the recent correction has made the sector attractive for long-term investment. The pharma sector also bucked the negative trend due to an improvement in outlook along with strong movements in mid and small-cap stocks.

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

3:49 PM

Currency check :: Rupee ends at 82/$ against Monday’s close of 81.97/$

3:47 PM

Buzzing stock :: Airline stocks mixed; March aviation data shows domestic air traffic up 21.4% YoY at 12.89 m

3:43 PM

Buzzing stock :: CRISIL falls over 4% post Q4 results

3:41 PM

Buzzing stock :: Tata Chemicals slides 6% as company slashes soda ash prices

3:39 PM

Buzzing stock :: Avalon Tech plunges 9% against issue price after muted debut

3:37 PM

Broader indices shine amid better valuations; MidCaps outperform

3:36 PM

Sectoral trends :: Pharma, Realty, IT indices shine

3:34 PM

Sensex Heatmap :: Gainers and losers neck & neck

3:33 PM

CLOSING BELL :: Nifty settles above 17,650

3:32 PM

CLOSING BELL :: Sensex dips for second day weighed by heavyweights

3:30 PM

HDFC Bank set to meet reserve ratio requirements post merger: Report

The $40 billion merger, announced last April, is expected to conclude by July, HDFC Bank's Chief Financial Officer Srinivasan Vaidyanathan told analysts at a conference call on Saturday. READ MORE

3:23 PM

ALERT :: Govt denies considering tweaks in capital gains tax

3:11 PM

Global Check:: US, UK stock futures rise up to 0.7%

Source: Investing.com

3:01 PM

Stock of this auto ancillary company has zoomed 40% in two days

Shares of Precision Camshafts (PCL) rallied 16 per cent to hit a 52-week high of Rs 149 on the BSE in Tuesday’s intra-day trade on heavy volumes. In the past two trading days, the stock of the auto ancillary company has zoomed 40 per cent. READ MORE

2:51 PM

Government eyes higher capital gains tax for rich to curb inequality

India is preparing an overhaul of its direct tax laws to replace a byzantine matrix of rules and help Prime Minister Narendra Modi reduce widening income inequality if he returns to power next year, according to people with knowledge of the matter. READ MORE

2:44 PM

Recent numbers show FY24 doesn't bode well for India's merchandise exports

No reversal seen in the recent contraction or growth deceleration, with WTO projecting goods trade growth by volume to slow to 1.7% in calendar year 2023 from 2.7% in 2022. READ MORE

 

2:31 PM

Earnings Alert:: CRISIL Q4 net up 19.8%; stock dips 4%

CRISIL reported 19.8 per cent growth in Q4FY23 net profit at Rs 145.75 crore as against Rs 121.62 crore in Q4FY22. Total income was also up 19 per cent at Rs 732.23 crore from Rs 615.05 crore.

2:20 PM

Apple unveils Apple Card's savings accounts with 4.15% interest rate

With no fees, no minimum deposits, and no minimum balance requirements, users can easily set up and manage their Savings account directly from Apple Card in Wallet. READ MORE

2:09 PM

Nifty Realty up 13% so far in April; Godrej, DLF, Oberoi zoom up to 27%

Shares of real estate companies continued their upward movement with the Nifty Realty index gaining 2 per cent on the National Stock Exchange (NSE) in Tuesday’s intra-day trade on a constructive outlook on the sector. READ MORE

1:58 PM

Reliance Capital resolution process completion deadline extended to July 16

NCLT Mumbai has extended Reliance Capital's resolution process deadline by 90 days to July 16. The current deadline ended on April 14. The deadline extension was necessitated as the lenders have decided to hold a second round of auction on April 26 in order to maximise the recovery from the sale of Reliance Capital assets. READ MORE

Reliance Capital

1:46 PM

Earnings Alert:: Schaeffler India Q1 net up 8% YoY; stock down 2%

Schaeffler India revenue from operations grew by 8 per cent to Rs 1,693.60 crore in the quarter ended March 2023. Net profit was up 6 per cent at Rs 294.10 crore.

1:33 PM

As govt tightens regulations, fintech firms search for legal experts

Industry experts said fintech firms are looking for senior professionals adept at handling legal and compliance-related issues to support their operations. READ MORE

1:21 PM

Stock Alert:: Debutant Avalon Technologies slumps over 10%

1:11 PM

5G rollout: Citing economic viability, telcos seek tax cuts from govt

Reliance Jio and Bharti Airtel are going neck-to-neck in rolling out 5G services. Currently, they offer 5G services in around 500 cities and towns in the country. READ MORE

12:57 PM

Pharma stocks rise in a subdued market: Lupin jumps 5%

12:42 PM

Nifty Realty best sectoral gainer so far; DLF hits 52-week high

12:28 PM

'Brokerage rates in India are among the lowest, need re-evaluation'

Ravi Kumar says float income generated by the industry is indeed facing challenges and brokerage rates could edge higher. READ MORE