Indices extend losses with Nifty below 14,700
HIL To Set Up Manufacturing Plant in Orissa
Auto Sales Likely To be Weak: Prabhudas Lilladher
Marico Q4 profit jumps 14 percent at Rs 227 crore
Indices extends losses, Nifty below 14,800
AU Small Finance Bank slips 9% post Q4FY21 result
Nifty Pharma index gained 1 percent led by the Divis Lab, Cadila Healthcare, Lupin
Persistent Systems hits 52-week high on better Q4 result
Dr Reddy's launched Albendazole tablets in US market
Nifty Energy index added 1 percent led by the ONGC, HPCL, IOC, GAIL
BSE Metal index rose 1 percent supported by the SAIL, Vedanta, Coal India
Nifty Bank index shed over a percent dragged by the AU Small Finance Bank, HDFC Bank, RBL Bank
RIL to announce Q4 numbers today
Indian markets are likely to see a gap down opening: ICICI Direct
Wipro revises Q1FY22 revenue growth guidance
Titan Company Q4 profit jumps 48% to Rs 529 crore
Gold edges lower as firmer U.S. yields pinch appeal
Dollar set for 4th weekly drop on dovish Fed; loonie at 3-year high
SGX Nifty indicates a negative start for the Indian indices
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 57,628.95 | -360.95 | -0.62% |
| Nifty 50 | 16,988.40 | -111.65 | -0.65% |
| Nifty Bank | 39,361.95 | -236.15 | -0.60% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| HUL | 2,511.20 | 63.80 | +2.61% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Bajaj Finserv | 1,245.40 | -56.35 | -4.33% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty FMCG | 45213.10 | 354.80 | +0.79% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 5470.85 | -131.75 | -2.35% |
The FX market has factored in the Covid related shortfall in economic output, but if the situation goes out of control, then we may again see an increase in USDINR bids. For now, the focus will be on US economic data and slew of IPOs due to hit the local equity market in the coming sessions. The USDINR spot is hovering around 74 zone, there are no signs of Fed withdrawing policy accommodation, so we expect the spot to remain sideways within 73.50-74.50.
Index opened a day with a gap down & traded whole day with negative bias and closed day at 14631 with loss of nearly two percent forming a bearish candle on the daily chart. On the downside index has good support at 14580-14500 zone if managed to save said levels then some bounce possible otherwise we may see the next leg of a move towards 14200 zone on the downside, resistance is placed at 14730-14810 zone. We may see profit booking again around these levels.
The market turned into a correction phase following weakness in the Asian market despite hopeful signs from Wall Street. Rising covid cases and uncertainties surrounding vaccination added more pressure on the market. Along with small-cap stocks, pharma, metal, and oil & gas were the sectoral gainers, while profit booking was seen in banking stocks.
Indian rupee ended marginally lower at 74.07 per dollar,amid selling saw in the domestic equity market.Rupee opened flat at 74.03 per dollar against previous close of 74.04 and traded in the range of 73.94-74.13.
Europe's economy shrank 0.6 per cent in the first three months of the year as slow vaccine rollouts and extended lockdowns delayed a hoped-for recovery and underlined how the region is lagging other major economies in rebounding from the coronavirus pandemic.
The fall in output was smaller than the 1 per cent contraction expected by economists but still far short of the rebound underway in the United States and China, two other pillars of the global economy.
U.S. growth figures announced Thursday showed the U.S. grew 1.6 per cent during the first quarter, with business supported by strong consumer demand. On an annualized basis, the U.S. grew 6.4 per cent.
Heavy selling in key pivotals including financials & HDFC twins kept indices in the red throughout the day as fears of localised lockdowns manifesting itself into a slowdown made investors cautious ahead of the state poll outcomes. Pharma & sugar stocks bucked the trend in today's trade.
Benchmark indices ended lower and broke the four-day gaining streak on April 30 dragged by the banking and auto names, while pharma stocks were witnesses buying.
At close, the Sensex was down 983.58 points or 1.98% at 48,782.36, and the Nifty was down 263.80 points or 1.77% at 14,631.10. About 1332 shares have advanced, 1554 shares declined, and 166 shares are unchanged.
HDFC, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Asian Paints were among the top losers on the Nifty. Gainers included ONGC, Coal India, Divis Labs, Grasim, and IOC.
Among sectors, bank, auto, IT, PSU bank and FMCG indices fell 1-2 percent, while pharma index rose 1 percent.
Strength in the dollar along with a surge in global bond yields is likely to keep gold prices under pressure. The dollar index is trading near 90.748 which has recovered from yesterday's low of 90.398, however still far away from the recent high of 93.470 registered on March 31.
The United States 10-Year Bond Yield is now trading at 1.645 which recovered from the recent low of 1.531 registered on April 23 still sharply lower from the recent high of 1.7760 registered on March 30th. Gold prices are currently trading near $1,769 with moderate losses from yesterday’s closing.
Recovery in the dollar index and Bond Yield from the recent low is likely to keep gold prices under pressure. It is likely to face stiff resistance near $1,790-$1,807, however, it may find an immediate support level around $1,762-$1,737.
After a few days of a strong trend, the market witnessed a lackluster movement in today’s activity. The expected levels of the market are likely to be in the range of 14500 and 14900, 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 an oversold condition and indicate potential sideways correction in the short term.
The Sensex was down 962.79 points or 1.93% at 48803.15, and the Nifty was down 255.50 points or 1.72% at 14639.40. About 1270 shares have advanced, 1455 shares declined, and 156 shares are unchanged.
