Markets extended yesterday’s gain and ended higher over a percent. The benchmark opened flat amid mixed global cues however it gradually inched higher as the day progressed citing investors’ expectations from earnings outcome by heavyweights.
Sectors such as banking, metals, consumer durable witnessed healthy buying interest from participants. In addition, the progress of the vaccination drive and a dip in the COVID cases further boosted sentiments. Consequently, the Nifty ended with gains of 1.2% to close at 14,653 levels. The broader markets too ended in the positive range of 1-1.4%. All the sectoral indices ended in green.
April 27, 2021 / 04:05 PM IST
Rohit Singre, Senior Technical Analyst at LKP Securities:
Strong positive move witnessed in today’s session after a small gap up opening and index closed a day at 14655 with gains of more than one percent & formed a bullish candle on the daily chart.
The index has shifted its base 14580-14500 zone and if manage to hold above-said levels then we may see some more extension in the ongoing move towards 14750 zones and above that we may see fresh breakout which can push index towards 15k mark on the quick basis.
April 27, 2021 / 03:49 PM IST
Vinod Nair, Head of Research at Geojit Financial Services:
Healthy buying across sectors led by banking, metals and specialty-chemicals is leading the rally. Stocks are up in anticipation of good quarterly earnings and improved outlook due to a hike in stock prices & demand.
Mid & Small caps are outperforming the main benchmark. This is though FIIs continue to be net sellers in the domestic market, due to weak Asian markets ahead FED meeting, it was more than compensated by DIIs & Retail investors.
April 27, 2021 / 03:41 PM IST
Rupee Close: Indian rupee ended marginally higher at 74.66 per dollar, amid buying saw in the domestic equity market. It opened higher by 5 paise at 74.67 per dollar against previous close of 74.72 and traded in the range of 74.51-74.73.
April 27, 2021 / 03:36 PM IST
Market Close: Benchmark indices ended higher for the second day in a row with Nifty above 14,600 led by the metal and financial names.
At close, the Sensex was up 557.63 points or 1.15% at 48,944.14, and the Nifty was up 168 points or 1.16% at 14653. About 1915 shares have advanced, 984 shares declined, and 158 shares are unchanged.
Hindalco Industries, Tata Steel, Larsen and Toubro, Divis Labs and Bajaj Finance were among top gainers on the Nifty, while losers included HDFC Life, SBI Life Insurance, Maruti Suzuki, Nestle and Kotak Mahindra Bank.
All the sectoral indices ended in the green, while BSE Midcap and Smallcap indices rose 1 percent each.
April 27, 2021 / 03:32 PM IST
The company's consolidated net profit rose 55% at Rs 62 crore versus Rs 40 crore and revenue was up 36.1% at Rs 339 crore versus Rs 249 crore, YoY.
Symphony was quoting at Rs 1,268.00, up Rs 60.95, or 5.05 percent on the BSE.
April 27, 2021 / 03:24 PM IST
Ashis Biswas, Head of Technical Research at CapitalVia Global Research:
After a few days of the lackluster movement, a positive trend in today’s market activity. The expected levels of the market are likely to be in the range of 14500 and 14800, and it’s going to be crucial for the short-term market scenario to sustain above the 14500 Nifty50 Index level. The momentum indicators like RSI and MACD support the upside move and indicate potential upside from the current market level.
April 27, 2021 / 03:19 PM IST
Anand James, Chief Market Strategist at Geojit Financial Services:
Persistent strength in US markets have rubbed on Indian stocks, with yesterday's dip in Treasury yields ahead of FOMC decision also helping the overall risk appetite. Banks have been quite bubbly lately and extended gains today by over 1% post noon, but it was metals that shone, with over 2.5% gain.
However, with April derivative expiry approaching, and with Nifty option premiums not pricing much above 14700 for now, caution is recommended.
April 27, 2021 / 03:12 PM IST
Prabhudas Lilladher on Mphasis
We remain positive on the stock due to i) strong net new deal TCV of $866 mn, +64% YoY, ii) potentially increasing addressable market share with support from Blackstone, iii) positive outlook of Blackstone towards MPHL as a long term value creation engine and iv) removing overhang of promoter exit considered sentimentally positive.
As the offer price for open offer is below CMP, we believe that the 26% open offer will not be subscribed fully – enabling Blackstone to easily transfer 55% shareholding to its new funds.
We continue to value Mpahsis on 21X earnings multiple on Mar-23 EPS of Rs 89 to arrive at a target price of Rs 1869. Mpahsis is currently trading at multiples of 21.3/19.4X on EPS of 81.1/89 on FY22/23 respectively. Maintain buy.
April 27, 2021 / 03:05 PM IST
Hindustan Zinc Q4:
The company has posted 85.3 percent jump in its Q4 net profit at Rs 2,481 crore versus Rs 1,339 crore and revenue was up 58.2% at Rs 6,947 crore versus Rs 4,392 crore.