Sensex today: Stock Market Highlights: Nifty OI data hints runaway rally unlikely. What should traders do next week
07:33 PM
India’s forex kitty declines by USD 2.16 billion to USD 584.24 billion
India’s forex reserves dropped by USD 2.164 billion to USD 584.248 billion for the week ended April 21, the Reserve Bank said on Friday. In the previous reporting week, the overall kitty had risen by USD 1.657 billion to USD 586.412 billion. It can be noted that in October 2021, the country’s forex kitty had reached an all-time high of USD 645 billion.
The Indian market saw a reversal in trend compared to the previous week, with strong earnings reported by heavyweights, especially banks, boosting sentiment. Meanwhile, oil prices declined due to concerns over the global economic slowdown, which outweighed the prospect of tighter supplies by OPEC+. As India is a large importer of crude, the correction had a positive impact on the market. However, global markets continued to spill volatility into the home market as the Fed is expected to hike its policy rates by another 25 bps. The release of a weaker US GDP number and high inflation will trigger further cautiousness in the global market in the coming days, though stronger-than-expected earnings reported by Meta propelled strong buying in IT stocks. In the domestic market, the release of PMI numbers and quarterly earnings will sway investor sentiment in the upcoming sessions, along with the Fed policy announcement.
– Vinod Nair, Head of Research at Geojit Financial services
07:14 PM
US stocks open lower as Amazon drags, inflation worries persist
Wall Street’s main indexes opened lower on Friday after Amazon warned about a slowdown in its cloud business, while strong inflation data cemented bets that the Federal Reserve will hike interest rates again next week.The Dow Jones Industrial Average fell 28.73 points, or 0.08%, at the open to 33,797.43. The S&P 500 opened lower by 5.72 points, or 0.14%, at 4,129.63, while the Nasdaq Composite dropped 24.69 points, or 0.20%, to 12,117.54 at the opening bell.
06:37 PM
FIIs net buyers for third straight session
Foreign portfolio investors were net buyers for the third straight day at Rs 3,304 crore on Friday. DIIs too bought shares worth Rs 264 crore.
06:32 PM
Sectors that saw highest rating upgrades, downgrades in FY23
06:31 PM
Reliance targeting Jio Financial listing as soon as October, say sources
The conglomerate, controlled by billionaire Mukesh Ambani, is in talks with Indian regulators to secure the necessary approvals for the market debut of Jio Financial Services Ltd. in Mumbai, one of the people said, asking not to be identified as the information is private. The parent is holding a meeting of shareholders and creditors on May 2 to vote on the plan to spin off and list the unit, according to an exchange filing in March.
Deliberations are ongoing and details of the listing could change, the people said. A Reliance Industries representative declined to comment.
A listing would position Reliance to shore up its nascent financial services presence by leveraging its growing consumer operations, which include India’s largest wireless operator and largest retailer. The group, led by Asia’s richest person, said in 2019 it would move toward a listing for the retail and telecommunications arms within five years, as it continues to expand beyond its oil refining roots.
04:52 PM
Tech View: Nifty OI data hints runaway rally unlikely. What should traders do next week
The index also negated last week’s bearish engulfing candle pattern on the weekly chart and now looks like moving towards the formation of a new higher top, chartists said. The momentum oscillator RSI (14) readings on the daily charts reached 70 and is now in the overbought zone.
The short term uptrend of Nifty remains intact and the market is expected to reach up to the next resistance of 18200-18300 levels in the next week. Immediate support is placed at 17900 levels, said Nagaraj Shetti of HDFC Securities.
The market would reopen on Tuesday as Monday is a trading holiday to mark Maharashtra Day.
04:46 PM
Tata Metaliks Q4 Results | Company on Friday announced a nearly 6% rise in net profit to Rs 55.56 crore for the fourth quarter period ended March 2023 on the back of higher revenues. The net profit for the corresponding Q4FY’22 was Rs 52.46 crore.
04:22 PM
Ultratech Cement Q4 Results
04:21 PM
Ultratech Cement Q4 Results | key numbers
04:19 PM
Ultratech Cement Q4 Results | Company announces dividend of Rs. 38/- per equity share of Rs. 10/- each for the year ended 31st March, 2023, subject to the approval of shareholders at the ensuing Annual General Meeting (“AGM”) of the Company.
04:17 PM
Ultratech Cement Q4 Results: PAT at Rs 1670 cr vs Rs ET NOW poll of Rs 1716 cr
03:35 PM
Top gainers & losers in closing trade
03:33 PM
Closing Bell: Fag-end buying drives Sensex 463 pts higher; Nifty above 18,000; Ceat surges 11%, Axis Bank sheds 3%
03:26 PM
Sensex surges 550 pts!
02:56 PM
Star Health and Allied Insurance Company Q4 Results
- PAT at Rs 102 cr vs loss after tax Rs 82.04 cr
- Premium earned Rs 2913 cr vs Rs 2621 cr
02:53 PM
Alphageo (India) says receipt of award of contract from GSI, Southern Region, Hyderabad
02:49 PM
Barring Delhivery, new-age stocks gain up to 5%
02:45 PM
Check out the top Nifty gainers & losers
02:44 PM
NIFTY RECLAIMS 18,000 AFTER 44 DAYS
02:35 PM
CSB Bank Q4 Results
- PAT at Rs 156 crore vs Rs 131 crore YoY
- Interest earned at Rs 636 crore vs Rs 520 crore YoY
- Provisions for NPA at Rs 3.12 crore vs Rs 1.51 crore YoY
01:56 PM
UCO Bank, IOB among top 10 gainers from PSU bank index
01:51 PM
European shares rise on strong earnings, Q1 GDP data on tap
The pan-European STOXX 600 index rose 0.3%, but was set for its first weekly decline in six. Construction and materials shares were the top gainers on the index, rising 1.0%.
01:42 PM
Axis Bank has enough capital to absorb Q4 loss: S&P
Indian private lender Axis Bank Ltd has adequate capital to absorb the loss it posted for the fourth quarter which was mainly due to an asset write-down related to a deal to buy some Citigroup assets, S&P Global Ratings said on Friday. The bank closed a $1.4 billion deal to buy Citigroup Inc’s local consumer and non-banking finance businesses in March, after which it wrote off goodwill and intangibles generated on the acquisition.
12:53 PM
Shares of Glenmark Life Science rallied 9% and hit a 52-week high at Rs 524.7 in Friday’s trade after the company’s profit for the March quarter jumped 48% year-on-year (YoY) to Rs 146 crore, while revenue from operations jumped 21% YoY to Rs 621 crore.
12:26 PM
K&R Rail Engineering to consider conversion of warrants into equity shares
12:26 PM
Australian shares snap 5 days of declines as banks, miners jump
The S&P/ASX 200 index rose 0.2% to 7,309.20 at the close of trade.
For the week, the index fell 0.3%, compared to a 0.4% decline in the previous week.
12:25 PM
CarTrade Tech Q4 Results | Profit at Rs 14.96 crore vs loss of Rs 25.67 crore YoY; Revenue at Rs 95.86 crore vs Rs 93.14 crore YoY
12:11 PM
Sectoral Watch | Nifty IT & media gain over 1% each
11:29 AM
Japan’s Nikkei extends gains after BOJ keeps stimulus; banks crushed
However, banks were a casualty of the BOJ’s decision, flipping from gains of as much as 2.64% in the morning session to be down as much as 2.41%.
11:13 AM
Copper set for biggest monthly loss since June 2022 on demand woes
Prices of copper, viewed as a gauge of economic health, were headed for their biggest monthly loss since June 2022 on Friday, dragged by global economic headwinds and weak demand from top consumer China. Three-month copper on the London Metal Exchange added 0.3% at $8,609 a tonne by 0446 GMT. The contract has lost 4.3% so far this month. The daily gains were supported by a weaker dollar, which makes the greenback-priced commodity less expensive for those holding other currencies.
11:03 AM
Varroc Engineering acquired additional 21% stake in its unit Cariq Technologies
10:36 AM
Shares of Indus Towers jumped 10% to Rs 159.2 in Friday’s trade on BSE. Its fiscal fourth-quarter net profit fell 23% on year as the telecom infrastructure provider continued to provide towards doubtful dues from its largest customer, Vodafone Idea.
10:30 AM
These are the top 10 gainers at this hour
10:28 AM
Earnings Impact | Glenmark Life Sciences said on Thursday its fourth-quarter profit surged 48%, helped by growth in its mainstay business of making active pharmaceutical ingredients (API) for drugs; stcok rallies 6%
10:22 AM
Earnings Impact | Tata Group-owned Indian retailer Trent posted a 65% jump in fourth-quarter revenue on Thursday, helped by robust sales at its flagship fashion retail chain Westside and budget-friendly store Zudio; stock falls 3%
10:09 AM
Rupee rises 4 paise to 81.75 against US dollar
At the interbank foreign exchange, the domestic unit opened at 81.77 against the dollar and then rose to 81.75, registering a rise of 4 paise over its previous close.
09:59 AM
This is how the world’s wealthiest man built Louis Vuitton in the 80s
The abundance of bullish continuation patterns had encouraged us to set aside collapse fears so far, and even raise our upside expectations from 17976 to 18300 yesterday. As we are at the upper extremity of a broadening declining wedge that has held prices throughout the year so far, the pace and breadth of moves are likely to change. We will begin this phase, by spotlighting 18110 as a point of vulnerability, which may be acted upon only if the subsequent turn lower extends beyond 17880. Else, expect the Nifty to head into the 18200-300 region or even 18600.
– Anand James, Chief Market Strategist at Geojit Financial Services
09:41 AM
Earnings Impact | LTIMindtree reported a lower-than-expected fourth quarter profit on Thursday as expenses rose and margins shrank, while the industry grappled with falling client budgets and worries of a upcoming recession in the United States; stock rises 2%.
09:39 AM
Eranings Impact | Tech Mahindra on Thursday reported a 34.69 per cent decline in its March quarter net at Rs 1,117.8 crore due to narrowing profit margins; stock gains 1%
09:38 AM
0.1% equity block deal in IDFC First Bank
09:37 AM
Earnings Impact | Private sector lender Axis Bank on Thursday reported a net loss of Rs 5,728 crore for the March 2023 quarter on account of the acquisition of the retail consumer business of CitiIndia; stock drops 2%
09:30 AM
Market View | Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Since the Nifty has moved up by 5% in the April series, some profit booking can happen in the near-term. An important sectoral trend in the market is that while large-cap IT has been performing poorly, mid-cap is doing well and some of them have given optimistic guidance for FY24. Stay invested in mid-cap IT. Long-term investors can utilise weakness in large-cap IT to accumulate these stocks. Banking stocks will remain resilient.
09:27 AM
Market LIVE Updates | Sensex looking to take a breather after 6-day rally?
09:24 AM
Earnings Impact | IT services provider Wipro on Thursday reported a dip in quarterly profit amid a turbulent macro-economic environment, while the company approved a share buyback; stock rises 3%
09:21 AM
Top movers in morning trade
09:19 AM
Opening Bell: Sensex rises 80 pts, Nifty above 17,900; Wipro gains 2%, Trent tanks 5%
09:11 AM
Pre-open session: Sensex rises 70 points; Nifty above 17,940
Markets may see a volatile opening as SGX Nifty has been witnessing sharp gyration even as key US indices bounced back sharply from the recent slump to end sharply higher in overnight trades. Going by the recent uptrend, there are chances that the Nifty could re-capture the psychological 18,000-mark. FII buying of local shares has also continued and they bought shares to the tune of Rs 1,653 crore in yesterday’s trades, while sluggish crude oil below $80 a barrel bodes well for India’s economy. However, with the global macroeconomic scenario still looking extremely bleak and local markets having run sharply in recent sessions, profit-taking could be on the cards going ahead.
– Prashanth Tapse, Senior VP (Research), Mehta Equities
07:54 AM
Asian stocks surge ahead of BOJ policy decision
Asian stocks rallied on Friday as strong corporate earnings helped lift sentiment even as worries over economic weakness lingered, while investors were also waiting on a policy decision from the Bank of Japan.MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.94% higher but remained on course to end the month 1.4% lower. Japan’s Nikkei rose 0.51% while Australia’s S&P/ASX 200 index gained 0.33%.
07:49 AM
Quarterly earnings today
UltraTech Cement, SBI Cards, IndiaMart and a slew of other companies will announce their quarterly results today.
07:48 AM
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 67 points, or 0.37 per cent, higher at 18,060, signaling that Dalal Street was headed for positive start on Friday.
07:48 AM
Tech View: Nifty forms a long bull candle on F&O expiry day
Indicating an upside breakout of the range movement, Nifty ended the April derivative series with a long bullish candle and made higher highs for the fourth session. On the daily charts, the momentum indicator has triggered a fresh positive crossover, which is likely to provide speed to the current up move.
07:48 AM
Tokyo stocks open higher with eyes on BoJ decision
Tokyo stocks opened higher on Friday, tracking gains on Wall Street, as investors await the Bank of Japan’s policy decision later in the day.The benchmark Nikkei 225 index was up 0.90 percent, or 254.89 points, to 28,712.57 in early trade, while the broader Topix index added 0.90 percent, or 18.20 points, to 2,050.71.
07:48 AM
Wall Street rallies as earnings season boost offsets economy worries
The tech-heavy Nasdaq led a Wall Street rally on Thursday as a strong quarterly report from Facebook parent Meta Platforms Inc overshadowed concerns over slowing U.S. economic growth.
07:47 AM
Rupee falls 5 paise to 81.79 against US dollar
The rupee pared all its initial gains to settle lower by 5 paise at 81.79 against the US currency on Thursday amid a strengthening greenback overseas and foreign capital outflows.
07:47 AM
Oil set for second weekly drop as recession fears, rates cloud outlook
Oil prices were little changed on Friday but are set for their second weekly drop as disappointing economic data from the U.S., the world’s biggest crude user, and uncertainty on further interest rate hikes raised concerns about future fuel demand.
07:47 AM
Sensex, Nifty on Thursday
The 30-share BSE benchmark Sensex advanced 349 points or 0.58% to settle at 60,649. The broader NSE Nifty surged 101 points or 0.57% to end at 17,915.
07:47 AM
