Stock Market Highlights, April 23: Benchmarks end flat after range-bound session; Realty index jumps

Stock Market Highlights on April 23: The Nifty Realty index zoomed 2.6 per cent, followed by the Nifty FMCG index (up 0.76 per cent)

3:55 PM

Comment :: What all happened in the markets today?

The domestic market exhibited range-bound performance, tracking positive global cues with sustained outperformance of the broader market. While tensions between Iran and Israel were perceived to have limited escalation, the uptick in crude prices suggests investors’ reassessing the risks. With higher levels of dollar index and US bond yields, FIIs are expected to continue with outflows, but inflows from DIIs are supporting the recovery.

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

3:47 PM

Tech View :: Decisive move above 22,400 may trigger fresh rally in Nifty

The Nifty remained sideways throughout the session as it failed to provide any directional breakout. However, the overall trend remains positive as the index closed above the critical moving average.

The Relative Strength Index (RSI) is showing a bullish crossover with a reading below 60. On the higher end, the range of 22,350-22,400 is likely to act as a resistance zone; a decisive breakout above 22,400 might trigger a rally in the market.

On the lower end, support is positioned at 22,250; a breach below this level might weaken the bullish sentiment.

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

3:46 PM

Tech View :: Nifty Bank's trend remains bullish; check key levels

The Bank Nifty index experienced a sideways trading session following a positive opening, with bears asserting dominance at higher levels. Despite this, the overall sentiment remains bullish, suggesting that dips should be seen as buying opportunities.

Strong support is observed around the 47,800-47,700 zone. However, the immediate hurdle lies at 48,200-48,500. A breakthrough above this resistance could pave the way for the index to achieve fresh all-time high levels

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

3:44 PM

ALERT :: India VIX falls 20% today; what analysts say?

Theoretically VIX depicts the volatility expectation for the next 30 calendar days. So, lower the VIX the more confident, the traders are about the ongoing upswing. Option traders also react to such scenarios by reducing expectation of premium expansion.

But the suddenness of VIX’s fall today, especially when Nifty barely rose above 0.5%, needs to be factored in when acting on the VIX’s signal.

Also important to note that VIX is calculated on the basis of bid ask quotes of near as well as next month Nifty option contracts, and contracts expiring from 26th April onwards would be having a lot size of 25, half of what is in play now, which could have a role in bid asks getting tighter.

Views by: Anand James, Chief Market Strategist, Geojit Financial Services

3:43 PM

Currency Check :: Rupee ends 3 paise firmer against US dollar on April 23

3:42 PM

Broader markets :: BSE SmallCap index ends 1% higher, nears record high

3:41 PM

Sectoral trends :: Realty index shines in a otherwise sluggish session

3:39 PM

Sensex Heatmap :: Airtel rallies over 3%, RIL falls over 1% on April 23

3:38 PM

Closing Bell :: Nifty tops 22,350

3:37 PM

Closing Bell :: Sensex gives up half the gains during fag-end

3:28 PM

HUL Q4 results preview: Here's what brokerage expect from the FMCG giant

Nuvama Institutional Equities anticipates HUL's Q4FY24 revenue to grow 1 per cent Y-o-Y/down 1 per cent Q-oQ at Rs 14,784.4 crore, while Ebitda and core net profit are expected to dip 2 per cent and 4 per cent Y-o-Y to Rs 3,400 crore and Rs 2,458.1 crore, respectively. READ MORE

HUL

3:17 PM

This Vijay Kedia-owned stock surges 19% on heavy volumes, nears record high

The stock of dyes and pigments company was trading at its highest level since August 2021. It had hit a record high of Rs 791.95 on July 2, 2021.  At 02:28 pm; Sudarshan Chemicals was trading 18 per cent higher at Rs 744.60, as compared to 0.26 per cent gain in the S&P BSE Sensex. READ MORE

3:03 PM

Global check:: US, UK stock futures trade on a positive note

2:53 PM

NSE set to launch derivative contracts on Nifty Next 50 from Wednesday

The Nifty Next 50 index represents 50 companies from Nifty 100 after excluding the Nifty 50 companies. READ MORE

2:44 PM

ALERT:: NBCC (India) soars 5%; firm booked record orders in FY24

NBCC (India) in an exchange filing today said the company secured record new works of Rs 23,500 Crore on consolidated basis and Rs 18,400 crore on standalone basis in FY24, as compared to Rs 6,700 crore and Rs 4,225 crore, respectively, in FY23.

2:33 PM

JNK India IPO: Subscription status, GMP, valuation, should you apply?

JNK India IPO: The grey market premium (GMP) for JNK India is Rs 15 as of April 23, 2024. At the higher end of the price band, it is a premium of 3.6 per cent. READ MORE

2:20 PM

Amara Raja jumps 37% so far in April, nears record high on healthy outlook

Thus far in the month of April, the market price of a comprehensive solutions provider in the Energy & Mobility space has zoomed 37 per cent, as compared to 0.27 per cent rise in the S&P BSE Sensex. READ MORE

2:09 PM

PSBs don't have power to issue 'Look Out Circulars' against defaulters: HC

The Bombay High Court on Tuesday ruled that public sector banks do not have the power in law to issue Look Out Circulars (LOCs) against default borrowers. READ MORE

1:57 PM

Emmforce Autotech raises Rs 15.34 cr from anchor investors, IPO opens today

Emmforce Autotech, an automotive components manufacturer has raised Rs 15.34 crore from anchor investors by selling 1.56 million shares at Rs 98 each. With investors, including BofA Securities Europe, and Astorne Capital buying the issue among others.  READ MORE

1:50 PM

Paytm finishes merchant migration to new UPI ids: Here's how to activate it

Paytm is now enabled to offer UPI services through partners such as Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank. READ MORE

1:39 PM

Inox Wind board to consider bonus share proposal; stock zooms 9%

This comes after the company announced that its board of directors will meet on April 25, to consider and approve the proposal for issuance of bonus equity shares to the shareholders of the company. READ MORE

1:27 PM

Market check:: Sensex off day's high, up 100 points

1:20 PM

Vi approves offer price of Rs 11 per equity share for Rs 18,000 cr FPO

The fundraise will arm VIL with an ammo to improve its competitive positioning in the Indian telecom market, where it trails Reliance Jio and Bharti Airtel, by a wide margin. READ MORE

1:09 PM

Travel platform TBO Tek receives final Sebi nod to float Rs 2,100 crore IPO

The company intends to utilise the net proceeds from the new shares to enhance its technology platform by acquiring new buyers and sellers. READ MORE

12:57 PM

Global check:: Hang Seng gains 1.7%, Taiwan 1%

12:43 PM

Bajaj Auto appoints Abraham Joseph as MD of its EV arm Chetak Technology

Bajaj Auto Ltd on Tuesday made key leadership changes with Abraham Joseph appointed as Managing Director of its electric vehicle arm -- Chetak Technology Ltd. READ MORE

12:29 PM

BSE Smallcap index nears record high; 17 stocks freeze at upper circuit

BSE SmallCap index today: The SmallcCap index hit a high of 46,426.72 in the intraday trade, and was less than 1 per cent away from its record high. READ MORE

12:17 PM

KP Energy secures wind power project; share hits 5% upper circuit

KP Energy shares soared on Tuesday, and are locked in 5 per cent upper circuit at Rs 409.85 apiece. READ MORE

 

 

12:02 PM

Hatsun Agro zooms 15% on healthy Q4 numbers; net rose by 108% YoY

The dairy company reported revenue from operations in Q4FY24 at Rs 2,046 crore as against Rs 1,789 crore in Q4FY23 registering a growth of 14.38 per cent year-on-year. READ MORE

11:49 AM

Explained: Sebi's probe into Adani Group and Foreign Portfolio Investors

SEBI suspects some FPIs investing in Adani companies might not be genuine public shareholders, but rather acting as proxies for the Adani promoters (owners). READ MORE