Rupee ends 32 paise higher at 74.04 per dollar
Demand optimism to support crude oil prices: Abhishek Bansal
Emkay Global Financial Services view on April auto sales
Rahul Bajaj resigns as non-executive director and Chairman of Bajaj Auto
Bajaj Auto net profit up 1.7% at Rs 1,332.1 crore
Titan Company Q4 profit may double
Rupee trades near day's high at 74 per dollar
Bajaj Auto likely to report muted Q4 profit growth
Indices trade higher amid volatility on expiry day
Hindustan Unilever Q4 net profit at Rs 2,190 crore
Nifty PSU Bank index shed 1 percent dragged by the Canara Bank, Punjab and Sind Bank, Central Bank of India
Nifty metal index added 2 percent led by the MOIL, JSW Steel, Tata Steel
CCI approves acquisition of BigBasket by Tata Digital
Rupee extends gains, trades near day's high
Market Off Day's High
Axis Bank board approves re-appointment of Amitabh Chaudhry as MD & CEO
Rupee to move towards 74.5 levels: ICICI dierct
Indian markets are likely to see a gap up opening: ICICI Direct
Asia shares rise on supportive Fed as Joe Biden unveils new stimulus
ICRA revises down India's GDP growth forecast to 10.5% in FY22
PowerGrid InvIT garners Rs 3,480 crore from anchor investors ahead of IPO
Gold gains after US Fed maintains accommodative stance
Oil prices extend gains as demand outlook offsets India concerns
Wall Street ends lower after Fed holds steady on rates
Fed keeps key rate near zero, sees inflation as 'transitory'
SGX Nifty indicate a positive start
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 58,177.83 | 103.15 | +0.18% |
| Nifty 50 | 17,136.75 | 29.25 | +0.17% |
| Nifty Bank | 39,933.50 | 38.80 | +0.10% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| HDFC Life | 495.40 | 12.65 | +2.62% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| BPCL | 351.45 | -7.10 | -1.98% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Pharma | 11747.30 | 113.50 | +0.98% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 5489.60 | -4.90 | -0.09% |
The Index has taken a bit of a breather after crossing 15,000 earlier in the day. It is also a bout of profit booking since today was the month-end expiry. The markets seem to be bullish and the Nifty has wings to move up further to levels closer to 15,100-15,200. Dips can be utilized to buy this market.
The market witnessed some strong trend and an attempt to overcome the resistance level around the Nifty 50 Index level of 15000. While sustaining above 14800 is the key factor from a short-term perspective. Our research suggests, maintaining above this level, market to gain momentum and to open the gate for a movement till 15200. The momentum indicators like RSI, MACD to stay positive and market breadth to improve, further strengthening the view of a short-term bullish outlook.
Index again opened a day with a good gap but profit booking from higher-end led index to close with minimal gains at 14880 and formed a bearish candle on the daily chart after five consecutive green candles. Index retraced from its strong hurdle zone of 15k mark previously also and we witnessed profit booking from same levels. If we failed to sustain above 15k mark, we may see sort of profit booking in coming sessions towards immediate support zone of 14800-14750 zone.
The domestic market was torn between negatives and positives on a volatile trade owing to the monthly F&O expiry. The Fed in its meeting sealed economic confidence by keeping its monetary policy loose and reaffirming aggressive support through bond buying. Metal stocks continue to outshine other sectors on strong outlook.
Indian rupeeended 32 paisehigher at 74.04 per dollar, amid volatile trade seen in the domestic equity market on the April F&O expiry day.
It opened higher by 14 paise, a strongest level since April 8,at 74.22 per dollar against previous close of 74.36 and traded in the range of 73.96-74.23.
Benchmark indices ended with marginal gains on April 29 amid high volatility on April F&O expiry day.
At close, the Sensex was up 32.10 points or 0.06% at 49,765.94, and the Nifty was up 30.40 points or 0.20% at 14,894.90. About 1376 shares have advanced, 1505 shares declined, and 176 shares are unchanged.
JSW Steel, Tata Steel, Bajaj Finserv, Bajaj Finance and Hindalco Industries were among the top gainers on the Nifty. Losers included Hero MotoCorp, Eicher Motors, Bajaj Auto, HDFC and HCL Technologies.
On the sectoral front, metal index rose 4.5 percent, while auto and PSU bank indices fell 1 percent each. BSE Midcap and Smallcap indices ended on flat note.
Crude oil prices continued the positive move from last week’s low of $60.66 per barrel and currently holding above $64 per barrel. Increased demand optimism due to positive economic data is supporting crude oil prices
Crude oil prices are likely to trade firm on increasing demand optimism worldwide. It may trade firm while above key support level of 20 days EMA of $62.31 per barrel and 50 days EMA of $60.62 per barrel. It is likely to face stiff resistance around $66.57 per barrel and $67.69 per barrel.
Gold prices rose after a brief consolidation witnessed in the previous session, bolstered by the U.S. Federal Reserve's pledge to maintain easy monetary policy to aid economic recovery, while a weaker dollar provided further support. The Federal Reserve held interest rates and its bond-buying program steady on Wednesday after its two-day policy meet despite taking a rosier view of the U.S. economic recovery. Governor Powell did not mention anything regarding the yields although he continued to underplay the rising inflationary expectation.
On other hand, U.S. President Joe Biden plans to unveil a sweeping $1.8 trillion package for families and education in his first speech to Congress, supporting the overall sentiment. Market participants will keep an eye on the US Q1 GDP data and weekly jobless claims scheduled later in the day, which could trigger further volatility in the market. Broader range on COMEX could be between $1775- 1798 and on the domestic front prices could hover in the range of Rs 47,000- 47,550.
The telecom business should benefit with 5G roll out, demand for Cloud, AI, legacy modernization and strong digital transformation deals. Further, TechM stands out from the crowd with strong play in network infrastructure services.
Gaining significant traction in the market remains its primary focus in the near term. We reiterate our buy rating on the stock with a revised target price of Rs 1,175 on ~18x FY23E adj. EPS.
The auto sales for the month of April 2021 is likely to be impacted by Covid-19-related restrictions/lockdowns across several states.
On a sequential basis, the volumes may be lower across segments. As volume numbers are not comparable YoY due to the complete lockdown last year, the comparison is against April 2019 numbers – Tractors and PVs are likely to be higher, while 2-Wheelers and CVs are expected to see a double-digit decline.
