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April 08, 2021 / 03:59 PM IST

Closing Bell: Nifty ends above 14,850, Sensex gains; metals shine

Among sectors, metal index rose nearly 4 percent, while infra and IT index rose a percent each. However, some selling seen in the banking names. BSE Midcap and Smallcap indices rose over 0.5 percent each.

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  • April 08, 2021 / 03:58 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Domestic market continued its optimistic rally supported by dovish monetary policy though it witnessed consolidation during the second half due to selling in banking stocks. Metal stocks led the sectorial rally on a strong outlook supported by rising steel prices and production. Q4 earnings season has started and the market is expected to have a stock centric rally in the coming days which has a very broad positive view.

  • April 08, 2021 / 03:50 PM IST

    Jateen Trivedi, Senior Research Analyst at LKP Securities:

    Rupee traded weak again as the lock-down measures and increasing Forex reserves continued after some weakness witnessed in USDINR pair in morning trades. The risk of Covid-19 keeps USDINR buying as government spending keeps increasing on vaccines and health products due to rising virus cases. Rupee will be seen in a range of 74.45-75.15 in sessions ahead with the weak trend for rupee.

  • April 08, 2021 / 03:48 PM IST

    S Ranganathan, Head of Research at LKP Securities:

    Let not the more or less flat closing in Thursday's trade take away the credit from the bulls who simply took away the honours with a mighty rally across metal names with admirable support from cement stocks. The broader market witnessed sustained buying interest in sugar & fertiliser names.

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  • April 08, 2021 / 03:46 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:

    The markets were successful in crossing 14950, but failed to sustain there. We reversed from there in few minutes and have again closed below the 14900 level. If we are able to get past the 14950 level on a closing basis, we could move higher to 15300-15400. On the other hand if we drift downward and break 14500, we could fall further to 14200.

  • April 08, 2021 / 03:40 PM IST

    Rupee Close: Indian rupee erased the intraday gains and ended lower by 5 paise at 74.60 per dollar in a volatile trade, amid buying saw in the domestic equity market.

    It opened 15 paise higher at 74.40 per dollar against previous close of 74.55 and traded in the range of 74.19-74.96.

  • April 08, 2021 / 03:36 PM IST

    Market Close: Benchmark indices ended with marginal gains in a volatile session on April 8 with Nifty above 14,850 mainly supported by the metal stocks.   At close, the Sensex was up 84.45 points or 0.17% at 49,746.21, and the Nifty was up 54.80 points or 0.37% at 14,873.80. About 1846 shares have advanced, 1022 shares declined, and 157 shares are unchanged.   JSW Steel, Tata Steel, Shree Cements, Titan Company and Hindalco were among top gainers on the Nifty, while losers included IndusInd Bank, SBI Life Insurance, Sun Pharma, HDFC Bank and ONGC.   Among sectors, metal index rose nearly 4 percent, while infra and IT index rose a percent each. However, some selling seen in the banking names. BSE Midcap and Smallcap indices rose over 0.5 percent each.

  • April 08, 2021 / 03:28 PM IST

    Ashis Biswas, Head of Technical Research at CapitalVia Global Research:

    The market witnessed a lackluster move in today's activity. It is suggested, a breakout above the resistance level above the Nifty50 Index level of 14900 is positive from a short-term perspective. Sustaining above 14900 levels, the market expects to gain momentum, leading to an upside projection till the 15300 levels. It is observed the momentum indicators like RSI and MACD support the upside move indicating that the short-term trend is likely to stay positive.

  • April 08, 2021 / 03:26 PM IST

    Anil Kumar Bhansali, Head- Treasury, Finrex Treasury Advisors: 

    Due to outage in Reuters rates the Forex rates have turned volatile and USDINR is being quoted at a high of 74.96 and current level is 74.75 with banks having heard quoting at a spread of 25 to 30 ps to their customers

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  • April 08, 2021 / 03:14 PM IST

    BSE Power index was up nearly a percent supported by the BHEL, Siemens, ABB

     BSE Power index was up nearly a percent supported by the BHEL, Siemens, ABB
  • April 08, 2021 / 03:07 PM IST

    March Mutual Fund Data:

    Net equity inflow stood at Rs 7,376.1 crore versus Rs 6,888 crore outflow. The liquid fund outflow at Rs 19,384 crore versus Rs 17,302 crore of inflow and ETF inflow was at Rs 3,632.2 crore versus Rs 1,949 crore inflow, MoM.

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