Nifty ends below 17700 dragged by IT stocks
Tata Motors plans to ramp up EV production as demand spikes
Intellects bags Contract From VPBank, Vietnam for digitisation services
Expect a 50 bps hike in the repo rate by March 2023
Indices near day's low, Nifty below 17700
Kesoram Industries posts consolidated net loss at Rs 46.1 crore versus profit of Rs 96.4 crore
Jefferies maintains buy rating on Piramal Enterprises with a target at Rs 3,100
Tatva Chintan gains as Investec starts coverage with 'buy' call
Nifty should remain in a broad range of 17000 to 18500: Shrikant Chouhan
Kotak Institutional Equities reiterates buy JSPL, raises target to Rs 700
BSE Midcap index rises 0.5 percent supported by the Ruchi Soya Industries, JSW Energy, Adani Power
HAL signs contract with Nigerian Army for Phase II training on Chetak Helicopter
SMS Lifesciences shares jump 20% after USFDA issues zero observation for Telangana unit
Godrej Industries announces the launch of Godrej Capital
Gold slips as rising Treasury yields bolster dollar
BSE Capital Goods index falls 0.5 percent dragged by the L&T, Bharat Forge, Siemens
Shoppers Stop sells further 19.50% of stake in Crossword
LKP Research maintains buy on ICICI Lombard General Insurance Company
Jefferies likes ICICI Bank & Bandhan Bank: Jefferies
Tata Steel acquires 32.6 crore shares of arm Tata Steel Mining for Rs 625 crore
CLSA keeps buy on Hindustan Aeronautics, Bharat Electronics
Indian rupee opens flat at 75.91 per dollar
Indices trade lower with Nifty around 17700
Home healthcare provider Portea may raise up to Rs 10 billion through public offering
Sandur Manganese surges 20% on fund raising via a rights issue
Veranda Learning Solutions debuts at 14.6% premium to IPO price
Nifty Information Technology index sheds 1 percent dragged by the Infosys, HCL Technologies, Wipro
Glenmark Pharma gets DCGI nod for phase 1 clinical trial of Novel Molecule GRC 54276
BSE Power index rises 3 percent led by the Adani Green, Adani Transmission, Adani Power
LIC may launch mega IPO by the end of April
Hindustan Aeronautics share price hits 52-week high on lowest bidder for ISRO project
Nifty is likely to trade choppy, support seen at 17689: Prashanth Tapse
Indian markets are likely to open on a negative note: ICICI Direct
RBL Bank under F&O ban on NSE
Saudi sovereign fund could buy stake in Tata Power
Expect rupee to appreciate today, says ICICI Direct
Benchmark Indices expected to open on a negative note: Mohit Nigam
Tata Motors JLR Wholesale and Retail sales for Q42022
Godrej group to enter non-banking finance business
Asian Markets trade lower with Hang Seng down nearly 3%, Straits Times down 1%
HDFC sells 4.94% Bandhan Bank's stake from Jan 19-April 8 for Rs 2,456.45 crore
Tata Consultancy Services, Delta Corp, Kesoram Industries to announce earnings today
Vodafone Idea in talks to raise $1 billion from Apollo Global
TCS, Shoppers Stop, Tata Steel, Axis Bank, Tata Motors among stocks that are in news today
Godrej group to enter non-banking finance business
Oil falls, pressured by China lockdowns, reserves release
Indian regulators mull uniform hours for markets across asset classes
Dow gains, S&P 500 ends lower as market weighs Fed rate hikes
Asia wary ahead of ECB meeting, US inflation data
SGX Nifty indicates a negative start for the Indian indices
Markets started the week on a feeble note following weak global cues and lost over half a percent. After a muted opening, the benchmark continued to trade in a range however the bias was on the negative side. Amid all, sectoral indices traded mixed wherein selling pressure in the IT heavyweights and select index majors from the banking and financials space dented sentiment. However, movement on the broader front kept the participants busy till the end. Consequently, the Nifty ended lower by 0.6% to close at 17,674.95 levels.
Markets will react to TCS numbers in the early trade on Tuesday i.e. on April 12. Besides, cues from the global markets will also be in focus. On the index front, the Nifty has been witnessing consolidation on the expected lines and a break below 17,600 could push the index further lower towards 17,400. Meanwhile, participants should continue with a cautious approach and stick with the stock-specific trading approach.
The fight between the bulls and bears continued in the Bank Nifty index and a breakout above 38000 will confirm the up move.
The lower end of the 37000-36800 zone will act as a cushion and a decisive break below this will only lead to further selling pressure.
The market remained sideward throughout the session as the benchmark Nifty failed to give a directional move. On the higher end, the index found resistance around the previous closing on the daily chart.
However, Nifty on the daily chart has formed an inside day bar which suggests indecisiveness. On the lower end, support is visible at 17600/17400. On the higher end, the resistance is seen at 17800.
After the recent decline in the last week, the Nifty had taken support near lower end of a reverse rising channel, where it had formed a bullish outside bar on the daily chart on April 8.
The index continued to consolidate near the lower channel line on April 11 & ultimately formed an Inside bar on the daily chart. This makes the boundaries of the outside bar i.e. 17600 & 17842 crucial support & resistance, respectively.
Overall short term range for the Nifty is expected to be 17500-18000. Within this range, any dip towards 17600-17500 can be taken as a fresh buying opportunity from short term trading perspective. On the higher side, 18000-18100 is expected to act as a cap for the short term.
Negative sentiment across Asian equities had a bearing on local stocks, as investors followed suit and trimmed their positions in risky counters. Investors, especially, shunned technology stocks ahead of TCS results because of fears that any subdued outlook for next quarter earnings could ignite further selling in the sector going ahead.
After a negative opening, the Nifty hovered within the range of 17650 -17780. Technically, on daily charts the index has formed a small inside body bearish candle which indicates indecisiveness between bulls and bears.
We are of the view that a 10-day SMA and 17600 retracement support zone would act as key support levels for the Nifty. Above the same, a strong possibility of a pullback rally up to 17850-17900 is not ruled out.
On the flip side, below 17600 range breakout, the market could retest the level of 17500-17430.
The market is wary ahead of the ECB meeting, the release of US inflation data, and the start of the domestic Q4 result season.
Indian IT sector dragged due to weak result expectations on a QoQ basis. In this shortened week, the market is cautious as trading at the upper side of the trend and momentum has shifted from broad to stock-specific.
: Indian rupee ended 5 paise lower at 75.95 per dollar against Friday’s close of 75.90.
Benchmark indices ended lower on April 11 with Nifty finishing below 17700 dragged by IT and capital goods stocks.
At close, the Sensex was down 482.61 points or 0.81% at 58,964.57, and the Nifty was down 109.30 points or 0.61% at 17,675.00. About 2072 shares have advanced, 1393 shares declined, and 121 shares are unchanged.
HCL Technologies, Infosys, Larsen and Toubro, Wipro and SBI Life Insurance were among the top Nifty gainers. However, Grasim Industries, Adani Ports, JSW Steel, UPL and Cipla were the top gainers.
Among sectors, power index rose 5 percent, oil & gas index was up over 2 percent and realty index added 1 percent, while IT and capital goods indices fell 1 percent each. BSE Midcap and smallcap indices were up 0.4 percent each.
Tata Motors is looking to ramp up the production of electric vehicles as demand continues to outpace the manufacturing activity by a huge margin, according to a top company official.
The Mumbai-based automaker, which led the passenger electric vehicle space in the domestic market in last fiscal year, has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range.
The company sells three electric products — Nexon EV, Tigor EV and XPRES-T — in the domestic market.
It has also recently unveiled a coupe style SUV which it plans to launch in the next two years
Intellect Global Transaction Banking (iGTB) announced that Hanoi-headquartered VPBank has signed a major transformative deal to digitize and streamline its transaction banking offerings. For Intellect, this deal marks the tenth key digital banking transformation deal in Vietnam.