Sensex, Nifty snap 3-day losing streak, end marginally up; Infy, HUL slip

CLOSING BELL: The S&P BSE Sensex was up 65 points, while the Nifty 50 added six points. Tata Motors, NTPC, Asian Paints, SBI and Bharti Airtel were the prominent gainers.

3:56 PM

Tech View :: '200-DMA is absorbing selling in Nifty'

The Nifty opened on a flat note, traded within a narrow range throughout the day, and closed marginally in the green ~6 points for the day. On the daily charts we can observe that since past four trading sessions Nifty has been consolidating in the broad range 17500 – 17800. On the daily charts, Nifty is trading around the 200 day moving average (17596) which is absorbing the selling pressure and also restricting a further drift. The daily momentum indicator has triggered a fresh negative crossover however we believe that it is on back of sideways price action since last four trading sessions. Until the Nifty breaks below the crucial support zone of 17550 – 17500 we shall assign less weightage to this sell signal. 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

3:49 PM

Comment :: 'Q4 has a negative bias due to lower than anticipated initial results'

The ongoing Q4 earnings season is the focus area of the market. It has a negative bias due to lower than anticipated initial results announced, in especially the IT sector. The global market has been unsupportive due to expectation of another rate hike and mixed earnings released in the US. Given cautious global sentiment withdrawal by FIIs during the week has hampered the market trend.

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

3:47 PM

Currency check :: Rupee ends at 82.15/$ against Wednesday’s close of 82.23/$

3:45 PM

Buzzing stock :: Khadim India lead rally in footwear stocks

3:43 PM

Buzzing stock :: Hotel stocks clock sharp gains ahead of holiday season

3:40 PM

Buzzing stock :: Mastek surges over 11% post robust Q4 results

3:38 PM

Sectoral trends :: Pharma, realty stocks end weak; Pvt bank, auto stocks shine

3:36 PM

Sensex Heatmap :: NTPC, Asian Paints, TaMo end as top gainers

3:34 PM

CLOSING BELL :: Nifty ends flat with positive uptick

3:33 PM

CLOSING BELL :: Sensex snaps 3-day losing streak, ends over 50 pts up

3:20 PM

Global Check:: US, UK stock futures decline up to 1%

Source: Investing.com

3:08 PM

Footwear stocks rally; Khadim, Liberty Shoes, Superhouse zoom up to 20%

Bata India, Metro Brands, Sreeleathers, Relaxo Footwears and Campus Activewear were up in the range of 2 per cent to 7 per cent. READ MORE

 

2:53 PM

Hinduja Housing Finance to raise Rs 800 cr via capital bond, debentures

Hinduja Housing Finance Ltd (HHFL), a mortgage lender with an asset book of about Rs 6,800 crore, will raise about Rs 300 crore in subordinate capital and Rs 500 crore in debt through median offering. READ MORE

2:44 PM

Jaguar Land Rover revs up for electric race; can it meet its 2030 target?

Jaguar Land Rover (JLR) lags its peers in the electric vehicle (EV) race, but is now determined to catch up. The company has embarked on an ambitious journey to become an ‘electric-first’ luxury carmaker by 2030. READ MORE

2:35 PM

ALERT :: Ion Exchange board approves stock split in the ratio of 1:10

2:35 PM

Earnings Alert:: International Travel House reports Q4 turnaround; stock zooms 9%

International Travel House reported a turnaround in Q4FY23 with a net profit of Rs 14.32 crore as against a net loss of Rs 1.16 crore in Q4FY22. Total income soared 82.5 per cent to Rs 51.11 crore from Rs 28 crore.

2:24 PM

Zydus Lifesciences gets USFDA nod to its generic medicine for high BP

Metoprolol tartrate tablets 25 mg, 50 mg, and 100 mg had annual sales of $45.2 million in the US, the company said citing IQVIA MAT February 2023 data. READ MORE

2:13 PM

Earnings Alert:: Oriental Hotels reports 14-fold jump in Q4 net; stock up 6%

Oriental Hotels reported a near 14-fold jump in Q4 net profit at Rs 17.79 crore for the quarter ended March 2023 as against Rs 1.28 crore in Q4FY22. Total income surged 69.1 per cent YoY to Rs 115.56 crore.

2:04 PM

Apple to nearly triple investment, exports in India in coming years

Apple mainly assembles iPhones in India through Taiwan contract manufacturers but plans to expand into iPads and AirPods, as it looks to cut reliance on China. READ MORE

1:53 PM

This railway stock soared 14% today, hitting new high on heavy volumes

In the past two months, the stock of Titagarh Wagon has zoomed 58% after the company reported healthy YoY revenue growth of 71% and healthy operating margin of ~10% in the first nine months of FY23. READ MORE

1:47 PM

News Alert:: TTK Healthcare approves delisting at Rs 1,051.31 per share; Stock slumps 7% from day's high

1:38 PM

Social media platform Koo laid off 30% of staff in recent months: Report

The spokesperson of the company said that dismissed employees will be supported by compensation packages, health benefits and aid in finding new jobs. READ MORE

1:25 PM

News Alert:: Fortis Healthcare to buy Medeor Hospital in Gurugram for Rs 225 cr

Fortis Healthcare Limited said it signed definitive agreements with the VPS Group for acquisition of its Medeor Hospital in Manesar, Gurugram, Haryana for Rs 225 crore. The hospital has a potential bed capacity of 350 beds and can be operationalized in a phased manner in approx. 9 months.

1:13 PM

Asian Markets Check:: A mixed day of trade

Source: Yahoo Finance

1:03 PM

EXPERT VIEW: BEML hiving off land holdings arm to enable value unlocking

Hiving allows focused effort by the PSU towards value unlocking else mired with strategic and operational issues of core business.

The move is a part of value unlocking, faster time bound value unlocking permits government to reinvest and create more economic value by putting government/ PSU assets to a better use. This will lead to building of specialised leaderships and teams to monetize and manage assets.

Views by Rajeev Vijay- Executive Director - Government and Infrastructure Advisory, Knight Frank India

12:45 PM

Paytm, Zomato, Nykaa: Select new-age stocks may rise up to 12%

Shares of new-age companies witnessed a sparkling session on Thursday, with One 97 Communications, Delhivery and PB Fintech all gaining in the range of 2 to 4 per cent. READ MORE

12:30 PM

Hotel stocks in demand: Lemon Tree, Oriental, Kamat Hotels surge up to 10%

Going forward, analysts expect FY24 to stay strong for the sector supported by full resumption of the economy, India's G20 presidency in 2023, ICC Men's world cup and easing of E-visa rules. READ MORE

12:17 PM

Ethos rallies 4% after it launched Swiss watch Laurent Ferrier in India

12:01 PM

Nifty Pharma down 1%, weighed by Gland Pharma, Divi's Lab

11:45 AM

India Inc registers surge in independent directors quitting their jobs

The report added that the role of IDs has come under the scanner as they form the first line of independent authorities along with the auditors. They are responsible for keeping an eye on any wrongdoings in a firm. READ MORE