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May 07, 2021 / 03:35 PM IST

Closing Bell: Nifty ends above 14,800, Sensex gains 256 pts led by metals

Stock Market LIVE Updates | Except PSU Bank index all other sectoral indices ended in the green with Nifty Metal index rose over 4 percent.

  • IndexPricesChangeChange%
    Sensex52,344.4521.12 +0.04%
    Nifty 5015,683.35-8.05 -0.05%
    Nifty Bank34,558.00-47.40 -0.14%
    Nifty 50 15,683.35 -8.05 (-0.05%)
    Fri, Jun 18, 2021
    Biggest GainerPricesChangeChange%
    Adani Ports694.3547.45 +7.33%
    Biggest LoserPricesChangeChange%
    ONGC120.25-4.85 -3.88%
    Best SectorPricesChangeChange%
    Nifty FMCG36287.15103.55 +0.29%
    Worst SectorPricesChangeChange%
    Nifty Energy20164.20-400.30 -1.95%


  • May 07, 2021 / 04:15 PM IST

    Nifty Could Move Towards 15,000 Soon

    "Nifty index opened gap up above 14,800 but remained consolidative in a broader range of 100 points. It continued its positive streak for third consecutive session and now trading above its 50 DMA. Index closed positive with the gains of around 100 points and continues its higher lows formation of the last four sessions. It formed a Doji candle on daily scale but a Bullish candle on weekly frame which indicates that declines are being bought while hurdles are intact at higher zones. Now, it has to hold above 14,750 to witness an upmove towards 15,000 -15,050 while on the downside support exists at 14,700 and 14,600 zones," said Chandan Taparia of Motilal Oswal.

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  • May 07, 2021 / 04:00 PM IST

    Rupee Outlook

    "The USDINR spot has continued the downtrend and has lacked enthusiasm ahead of US NFP data. The primary reason is traders are focusing on global recovery and increase in vaccination drives in the euro zone. Also, seems like the local fx market has likely factored in the slow economic recovery amid escalating coronavirus cases in India, but still some cautious sentiments prevail. Thus, next week’s USDINR trading range will mostly depend on how DXY reacts to NFP data. If improving economic data stokes inflation worries and leads to expectations that the Fed will reduce monetary stimulus, that could boost US yields and the dollar. Technically, USDINR spot is hovering near the crucial support zone of 73.50. A break below 73.50 will push the spot to 73.25-73.00, while a reversal may push USDINR spot towards the crucial resistance of 74.25," said Rahul Gupta, Head Of Research- Currency at Emkay Global Financial Services.

  • May 07, 2021 / 03:51 PM IST

    Expert's Take on Market

    "Market opened with a gap up tracking heavyweights gains and was able to maintain its optimism to the end, supported by the global market. Global bourses were largely positive as easing restrictions on movement in the US & Europe along with the expectation of better US job data signalled a faster economic rebound in the western markets. Metals stocks are continuing its upbeat movement on improved sectoral outlook while mid-cap stocks underperformed their peers," said Vinod Nair, Head of Research at Geojit Financial Services.

  • May 07, 2021 / 03:43 PM IST

    Technical View

    "The markets have held 14,700 smartly! We need to see if these levels can hold on Monday; if it can, we should be headed to 15,200. If we do not hold, we will retrace back to the support levels of 14,400. Holding 14,400 is imperative for the Nifty," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst at Deen Dayal Investments.

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  • May 07, 2021 / 03:40 PM IST

    Market Closing

    The market closed in the green for third consecutive session, with the Nifty50 rising 98.40 points to 14,823.20 and the BSE Sensex up 256.71 points at 49,206.47, led by rally in metals stocks.

    HDFC, Bajaj Finserv, M&M, NTPC, Bharti Airtel and UltraTech Cement were top gainers in the Sensex, whereas Bajaj Auto, Bajaj Finance, Infosys, Kotak Mahindra Bank and ICICI Bank were only losers.

    Among sectors, the Nifty Metal index rallied 4.7 percent, whereas PSU Bank index was the only loser.

    The broader markets closed mixed. The Nifty Midcap index was down 0.4 percent, while the Nifty Smallcap index gained 0.7 percent.

  • May 07, 2021 / 03:26 PM IST

    CRISIL Rating on Jubilant Ingrevia

    CRISIL assigned AA rating with Stable outlook on company's bank loan facilities and non-convertible debentures.
     

  • May 07, 2021 / 03:18 PM IST

    Rupee Outlook

    "Rupee traded positive again as the market keeps cheering the RBI statements and financial aid which it provided, along with weakness in the dollar index which helps the rupee strengthen even strongly. The range remains at the higher side at 73.75 and on the downside till 73.25 can be seen looking at the current trend. Once the dollar index starts covering only the rupee will be seen weak," said Jateen Trivedi, Senior Research Analyst at LKP Securities.

  • May 07, 2021 / 03:13 PM IST

    Technical Outlook

    "The market witnessed extension in the trend that started yesterday after breaching the important level of 14,700.The rally MIGHT continue till the level of 14,900. Though it is subject to further price action but if the market breaks the level of 14,900 and sustains above the level a new bullish rally will take place till the levels of 15,200.the momentum indicators like RSI and MACD support the upside move and indicate potential upside from the current market level," said Ashis Biswas, Head of Technical Research at CapitalVia Global Research.

  • May 07, 2021 / 03:06 PM IST

    CRISIL's Take on Liquidity Measures

    Reserve Bank’s Rs 50,000-crore liquidity window can help augment the bed capacity at hospitals by up to 20 per cent as credit will be available at cheaper costs, credit ratings agency Crisil said on Friday.

    The window to banks under priority-sector lending to augment COVID-19 healthcare infrastructure will help raise treatment capacity, and availability of medicines and medical equipment, it said.

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  • May 07, 2021 / 02:54 PM IST

    Dolly Khanna ups stake in 4, adds 3 new stocks to portfolio in March quarter

    Ace investor Dolly Khanna had shares of 10 companies in her portfolio in the quarter ended March 2021, of which three were new additions. She also increased stakes in four companies during the quarter. The value of her portfolio stood at around Rs 242 crore as per the closing price on May 5.

    Khanna raised shareholding in Butterfly Gandhimathi Appliances by 0.09 percent in March quarter to 1.59 percent compared to the previous quarter. She increased her stake in KCP by 0.89 percent to 3.34 percent, NCL Industries 0.63 percent to 1.7 percent and Talbros Automotive Components by 0.02 percent to 1.19 percent.

  • May 07, 2021 / 02:42 PM IST

    Geojit Research on Mahindra CIE Automotive: Q1CY21 revenue came at 32 percent YoY on the back of strong growth from both India and European business. The growth was largely driven by strong order intake and new customer addition. Despite weak industry growth, increase business with existing customers owing to supplier consolidation and shifting the production to India as primary hub for export is adding value to the company.

    We firmly believe that the strong cost control initiatives and Europe’s positive opening will help MCIE to tide over the crisis. We value MCIE at 14x CY22 EPS and upgrade our rating from accumulate to buy.

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