Moneycontrol PRO
Live now
auto refresh
April 28, 2022 / 03:38 PM IST

Closing Bell Updates: Sensex jumps 700 points, Nifty ends above 17,200; FMCG stocks rally

Stock Market LIVE Updates: Buying is seen in the FMCG, power, auto and capital goods names. The midcap & smallcap indices also ended in the green.

  • IndexPricesChangeChange%
    Sensex54,052.61-236.00 -0.43%
    Nifty 5016,125.15-89.55 -0.55%
    Nifty Bank34,290.1542.55 +0.12%
    Nifty 50 16,125.15 -89.55 (-0.55%)
    Tue, May 24, 2022
    Biggest GainerPricesChangeChange%
    Dr Reddys Labs4,347.1072.15 +1.69%
    Biggest LoserPricesChangeChange%
    Divis Labs3,661.70-236.20 -6.06%
    Best SectorPricesChangeChange%
    Nifty Bank34290.1542.55 +0.12%
    Worst SectorPricesChangeChange%
    Nifty IT28531.50-547.80 -1.88%


  • April 28, 2022 / 04:26 PM IST

    Prashanth Tapse, Vice President (Research), Mehta Equities:

    Short covering backed with fear of missing out (FOMO) ruled traders’ mindset. After a hesitant gap-up open, the benchmark Nifty staged a further smart recovery amidst bargain hunting backed by short covering. The positive takeaway was that Nifty ended above its 200-DMA as HUL led from the front, up 4.40% as the street feels HUL is relatively better placed to fight the inflation woes. Reliance Industries too was star performer scaling fresh record high at Rs 2851. Nifty bulls will aim to carry forward the positive baton to tomorrow’s trading session and hopefully to next week’s trade with immediate goal post at 17607 and then at psychological 18000 mark. Technically speaking, the ongoing massive short covering shall continue as long as Nifty’s 17807-17000 support zone holds.

  • April 28, 2022 / 04:25 PM IST

    IndiaMART InterMESH Board approves Rs 100 crore tender buyback

    The company approved the proposal for buyback of up to 1,60,000 fully paid up equity shares of the Company having a face value of Rs 10 per equity shares and such buyback from all shareholders / beneficial owners of the equity shares of the Company, including promoters and members of the promoter group, on a proportionate basis as on the Record Date through the “Tender Offer” route, using mechanism for acquisition of shares through 
    stock exchange. It also recommended a final dividend of Rs 2 per equity share of face value of Rs 10 each for the financial year 2021-22 (20% of the face value), subject to the approval of the shareholders. The stock ended at Rs Rs 4,890.05, up Rs 52.75, or 1.09 percent. It has touched an intraday high of Rs 4,978.40 and an intraday low of Rs 4,788.60.

  • ADVERTISEMENT
  • April 28, 2022 / 04:18 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

    A smart pullback rally on the last day of April F&O expiry series helped the markets rebound amidst wild intra-day gyrations during the week. Volatility is beginning to be the new normal for investors as haze over rising inflation, possible interest rate hikes and fluctuating oil prices have kept equity as an asset class in tight leash. If the trend continues, investors may have to brace for more volatility in the new F&O series as well. The Nifty took support near 17070 and bounced back sharply thereafter. The index has re-claimed the level of the 200 day SMA and has also formed a long bullish candle on daily charts, which is indicating the continuation of an uptrend formation in the near future. 

    For the trend following traders, now the 200-day SMA or 17200 would act as a trend decider level. And above the same, the Nifty could rally till 17400-17450. On the flip side, below 17200, uptrend could be vulnerable and a strong possibility of quick intraday correction till 17100-17050 is not ruled out.

  • April 28, 2022 / 04:03 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Investors preference is shifting to safe-haven assets due to volatile equity market and global uncertainties indicated by rising US Dollar index. FPIs are in a selling mode while domestic investors are positive and will focus on defensives like Consumption and domestic growth sectors like Infra & capital goods. Volatility is expected to continue in the short-term due to weakening global trade and we suggest investors to have rationale expectations focusing on domestic growth sectors like CAPEX, banking and defensives.

  • ADVERTISEMENT
  • April 28, 2022 / 03:58 PM IST

    Vedanta Q4: Net profit went down 4.8% at Rs 7,261 crore against Rs 7,629 crore (YoY). Revenue was up 41.1% at Rs 39,342 crore against Rs 27,874 crore (YoY).

  • April 28, 2022 / 03:51 PM IST

    Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities:

    Bank nifty index witnessed some buying from the lower levels on the last expiry of the month. However, the index is still trading below its 200-DMA which is placed at the 36800 level. In order to resume the uptrend, the index has to cross its 200-DMA with volumes. The lower-end support stands at 35800-35700 zone and a breach below this will lead to a fresh round of selling pressure.

  • April 28, 2022 / 03:44 PM IST

    Rupee at close: Rupee ends at 76.48 per US dollar against April 28 close of 76.53 per US dollar.

  • April 28, 2022 / 03:40 PM IST

    SBI Life Insurance Q4: Total APE grew 4% at Rs 4,130 crore against Rs 3,970 crore (YoY). VNB grew 67% at Rs 1,470 crore against Rs 880 crore (YoY). VNB margin at 35.6% against 22.2% (YoY).

      SBI Life Insurance Q4: Total APE grew 4% at Rs 4,130 crore against Rs 3,970 crore (YoY). VNB grew 67% at Rs 1,470 crore against Rs 880 crore (YoY). VNB margin at 35.6% against 22.2% (YoY).
  • April 28, 2022 / 03:36 PM IST

    Benchmark indices after opening in the green on April 28 extended gains with Sensex surging 701.67 points or 1.23% at 57521.06, and the Nifty adding 206.60 points or 1.21% at 17245. About 1594 shares have advanced, 1729 shares declined, and 104 shares are unchanged.

    Among the sectors, FMCG, power, auto and capital goods added 1-2 percent each while the midcap & smallcap indices also ended in the green.

     Benchmark indices after opening in the green on April 28 extended gains with Sensex surging 701.67 points or 1.23% at 57521.06, and the Nifty adding 206.60 points or 1.21% at 17245. About 1594 shares have advanced, 1729 shares declined, and 104 shares are unchanged. 

 Among the sectors, FMCG, power, auto and capital goods added 1-2 percent each while the midcap & smallcap indices also ended in the green.
  • ADVERTISEMENT
  • April 28, 2022 / 03:20 PM IST

    S Ranganathan, Head of Research at LKP Securities:

    Even as the Euro hit a 5-year low against the dollar, benchmark indices on D-Street rose almost 2% in afternoon trade before giving up some gains powered by energy & FMCG stocks with Reliance becoming the first Indian company to cross m-cap of $250bn. Even standalone refineries not part of the Energy Index evinced keen interest on the back of rising gross refining margins. High quality midcap names in IT & Agri saw accumulation on the back of good earnings.

  • April 28, 2022 / 03:11 PM IST

    European Markets Updates

      European Markets Updates
Sections
ISO 27001 - BSI Assurance Mark