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Bank shares on Friday rebounded from the previous session’s losses, rising up to 3 percent, as investor sentiment improved following a ceasefire between the US and Iran. The two sides are scheduled to hold negotiations in Pakistan on Saturday.

Benchmark indices Sensex and Nifty advanced up to 1 percent in a broad-based rally led by financial stocks.

Financials, which have the highest weight on the benchmarks, have gained 8.8 percent so far this week.

The Nifty PSU and the private bank index rose 1.64 percent and 2.03 percent, respectively.

The Bank Nifty index, which had declined 1.5 percent in the previous session, recovered losses to rise up to 2 percent during the day. All its 14 constituents were trading in the green.

ICICI Bank emerged as the top gainer in the Bank Nifty pack, rising 3.3 percent to touch an intra-day high of Rs 1,323.7 per share on the NSE.

It was followed by Federal Bank and Axis Bank, which gained 2.38 percent and 2.34 percent, respectively.

State Bank of India, HDFC Bank, Punjab National Bank and Kotak Mahindra Bank were trading higher by 1-2 percent.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Bank shares snap previous day's fall to rise up to 3%; ICICI, HDFC Bank lead gains

Wipro shares fell 0.72 percent despite buyback plans., Wipro to consider share buyback on April 16., Wipro secures Rs 9,314 crore deal with Olam Group.

* Wipro shares fell 0.72 percent despite buyback plans.
* Wipro to consider share buyback on April 16.
* Wipro secures Rs 9,314 crore deal with Olam Group.

Wipro shares fell after announcing a possible share buyback on April 16. The stock dropped 0.72% despite an earlier rise. Wipro also secured an eight-year, Rs 9,314 crore deal with Olam Group and will acquire its IT arm, Mindsprint, for Rs 3,494 crore.

shorts/business/wipro-declines-up-to-2-after-it-firm-announces-plan-to-consider-share-buyback

Wipro shares declined on Friday after the IT firm said it will consider a share buyback on April 16.

The stock was trading at Rs 201.49 per share on the NSE, down 0.72 percent. It has been on a losing trend for the past three trading sessions.

Earlier in the day, the stock had opened on a positive note, rising 2.8 percent, and touched an intra-day high of Rs 208.7, up 2.87 percent.

This will be the first instance in nearly three years that the Bengaluru-based IT services company will evaluate a share buyback. Its last buyback exercise was conducted in June 2023.

In that round, the company repurchased shares worth Rs 12,000 crore between June 22 and June 30, acquiring 26.96 crore equity shares, representing 4.91 percent of its total equity, at Rs 445 per share.

The company’s management had earlier said during its third-quarter results that buybacks would continue to be a key route to return excess cash to shareholders.

Earlier this week, the company secured an eight-year transformation deal with Singapore-based food and agri-business major Olam Group, which is expected to exceed about Rs 9,314 crore in contract value.

As part of the broader engagement, Wipro said it will acquire Olam Group's IT and digital services business, Mindsprint Pte. Ltd., for about Rs 3,494 crore.

&quot;Wipro has secured a multi-year strategic transformation deal with Olam Group, a leading USD 50+ Billion Food and Agri-business headquartered in Singapore, employing nearly 40,000 people, and majority-owned by Temasek Holdings. This 8-year deal with Olam Group is expected to exceed USD 1 billion in contract value, with a committed spend of USD 800 million.

&quot;As part of this broader engagement, Wipro will acquire Mindsprint, Olam Group's IT services arm,&quot; Wipro said in an exchange filing on Monday.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Wipro declines after IT firm announces plan to consider share buyback

Onyx Biotec, New India Assurance surged above key moving averages, Info Edge, APL Apollo, Welspun saw declines below moving averages, Market shows stock-specific moves based on technical cues

* Onyx Biotec, New India Assurance surged above key moving averages
* Info Edge, APL Apollo, Welspun saw declines below moving averages
* Market shows stock-specific moves based on technical cues

On April 10, stocks showed sharp moves driven by technical cues. Onyx Biotec, New India Assurance, Sylvan Plyboard, Hind Rectifiers, and Nectar Lifesciences surged above key averages, while Info Edge, APL Apollo, Welspun Investments, and others slipped below.

shorts/business/momentum-stocks-onyx-biotec-new-india-assurance-rally-info-edge-apl-apollo-see-negative-breakdowns

In a market driven by technical cues, several stocks witnessed sharp price action on April 10, with some moving above key moving averages, signalling strengthening momentum, while others slipped below important levels, indicating weakness.

Among the positive breakouts, Onyx Biotec surged 13.33 percent to Rs 38.00, trading above its 30-day and 50-day moving averages. New India Assurance jumped 10.84 percent to Rs 148.61, crossing above its 30-day and 50-day moving averages, indicating improving near-term sentiment.

Sylvan Plyboard rose 9.42 percent to Rs 51.00, trading above its key short-term averages, while Hind Rectifiers advanced 7.13 percent to Rs 765.10, moving above both short-term and long-term moving averages, signalling strong momentum. Nectar Lifesciences gained 6.24 percent to Rs 11.75, trading above its 30-day average, though it remains below longer-term levels.

On the downside, several stocks witnessed negative breakouts, slipping below key moving averages and reflecting selling pressure.

Info Edge declined 0.89 percent to Rs 985.00, trading below its 30-day and 50-day moving averages and remaining well below its longer-term averages. APL Apollo fell 0.64 percent to Rs 2,026.40, slipping below its short-term averages, though it continues to hold above its long-term levels.

Welspun Investments edged lower by 0.33 percent to Rs 1,272.40, trading below its 30-day and 50-day averages. Le Travenues Technology declined 0.29 percent to Rs 169.09, falling below key averages and remaining under pressure.

LCC Infotech slipped 0.21 percent to Rs 4.83, trading below its short-term averages, indicating weak momentum.

The divergence in price action highlights a stock-specific market, with traders closely tracking technical levels for cues on further direction, as breakouts above moving averages signal strengthening trends, while breakdowns point to continued weakness.

Momentum Stocks: Onyx Biotec, New India Assurance rally; Info Edge, APL Apollo see negative breakdowns

Indian equities gained sharply on April 10, with investors turning cautiously optimistic ahead of the upcoming US-Iran talks this weekend.

Among the gainers, banking stocks traded higher, with ICICI Bank, Axis Bank and Punjab National Bank rising around 2 percent each. Federal Bank, Canara Bank, HDFC Bank, Kotak Mahindra Bank, State Bank of India, and IndusInd Bank gained about 1.5 percent each.

Midcap and smallcap stocks continued to see selective interest. New India Assurance surged 13 percent, while KPR Mills and Stral advanced over 4 percent each. Berger Paints, AIA Engineering, and Cochin Shipyard gained more than 3 percent.

On the downside, IT stocks came under pressure following Tata Consultancy Services’ earnings. Mphasis fell 3.5 percent, Coforge declined 2.5 percent, Persistent Systems dropped 1.6 percent, while Oracle Financial Services Software slipped 1 percent.

Sectorally, realty stocks outperformed, with the index rising 2 percent, while the IT index lagged, declining 2.3 percent.

Market breadth remained strong, with 3,052 stocks advancing and 491 declining on the BSE, indicating broad-based participation.

Traders said the market continues to remain stock-specific, with earnings visibility and news flow driving price action. While large caps remain relatively stable, midcaps and small caps are witnessing sharper moves on both sides.

Volatility remains contained, but participants remain cautious amid mixed global cues and ahead of key domestic triggers. Going ahead, stock-specific developments, earnings announcements, and global trends are expected to guide market direction in the near term.

Price Action: New India Assurance, KPR Mills rally over 5% even as IT stocks decline

TCS shares fell 2 percent after Q4 results showed modest growth, Wipro gained 1.5 percent as board considers share buyback, Ola Electric surged 20 percent on battery tech progress

* TCS shares fell 2 percent after Q4 results showed modest growth
* Wipro gained 1.5 percent as board considers share buyback
* Ola Electric surged 20 percent on battery tech progress

TCS shares fell 2% after mixed Q4 results; Wipro gained 1.5% on buyback plans; IFB Industries rose 2.5% after leadership changes; Ola Electric surged 20% on battery tech progress; Sun Pharma dropped 3% amid Organon bid; banks traded higher.

shorts/business/buzzing-stocks-earnings-deals-and-corporate-updates-drive-movement-in-tcs-wipro-ola-electric

Several stocks remained in focus on April 10 as corporate developments, earnings updates and regulatory triggers drove market activity.

Shares of Tata Consultancy Services fell 2 percent after the company reported its March-quarter results. The IT major reported fourth-quarter revenue of $7.6 billion, up 1.2 percent quarter-on-quarter in constant currency terms and 0.8 percent in organic constant currency terms, largely in line with estimates. However, full-year revenue declined 2.4 percent year-on-year in constant currency terms. Growth in the quarter was led by the energy, utilities and consumer businesses.

Wipro gained 1.5 percent after the company said its board will consider a proposal for a share buyback along with its fourth-quarter results on April 16.

IFB Industries rose 2.5 percent after the company announced key leadership changes. The board approved the appointment of Manoj Kumar Vijay as an additional non-executive independent director for two years. It also appointed Sandeep Joseph Abraham as managing director and chief executive officer for a five-year term.

Shares of Ola Electric Mobility extended gains for the second straight session, rising 20 percent to Rs 36.34. The rally followed positive developments in the company’s battery technology, with its in-house developed lithium iron phosphate cell nearing readiness, pending regulatory approvals.

Sun Pharmaceutical Industries declined 3 percent after ET reports that the company is proceeding with a binding offer of $12 billion to acquire Organon &amp;amp; Co, marking one of its largest overseas acquisition attempts.

Banking stocks traded higher, with Axis Bank rising 2 percent, ICICI Bank gaining 1.6 percent and State Bank of India advancing 1.5 percent.

Market participants said stock-specific news flow remains the key driver in the current environment, with investors closely tracking corporate announcements and sector-specific triggers. With the earnings season underway, company-specific developments are expected to continue driving market volatility.

Ports Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Ports industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q4 FY25-26

Stock News

Bank shares snap previous day's fall to rise up to 3%; ICICI, HDFC Bank lead gains

Wipro declines after IT firm announces plan to consider share buyback

Momentum Stocks: Onyx Biotec, New India Assurance rally; Info Edge, APL Apollo see negative breakdowns

Price Action: New India Assurance, KPR Mills rally over 5% even as IT stocks decline

Buzzing stocks: Earnings, deals and corporate updates drive movement in TCS, Wipro, Ola Electric

Ports Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Ports industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q4 FY25-26

Stock News

Bank shares snap previous day's fall to rise up to 3%; ICICI, HDFC Bank lead gains

Wipro declines after IT firm announces plan to consider share buyback

Momentum Stocks: Onyx Biotec, New India Assurance rally; Info Edge, APL Apollo see negative breakdowns

Price Action: New India Assurance, KPR Mills rally over 5% even as IT stocks decline

Buzzing stocks: Earnings, deals and corporate updates drive movement in TCS, Wipro, Ola Electric

Ports Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Ports industry stocks.