Closing Bell: Sensex down 189 points, Nifty at 22,600; IT, metal major drag

Indian benchmark indices erased all the intraday gains and ended in the negative zone in the highly volatile session. At close, the Sensex was down 188.50 points or 0.25 percent at 74,482.78, and the Nifty was down 38.60 points or 0.17 percent at 22,604.80

We wrap up today's edition of the Moneycontrol live market blog, and will be back Thursday morning with all the latest updates and alerts. Please visit www.moneycontrol.com/markets/global-indices for all the global market action.

Immediate support for Nifty at 22500, says Rupak De, Senior Technical Analyst, LKP Securities

Nifty witnessed selling pressure as it encountered resistance near the previous swing high, resulting in a weak closing. Other indicators such as the 20-day Simple Moving Average (SMA) and the 50-day SMA are positioned below the index value, suggesting that the ongoing positive trend remains intact. The Relative Strength Index (RSI) also indicates a bullish crossover.

Over the next few days, the trend in the headline index might remain sideways unless it breaks above the all-time high of 22783. On the downside, immediate support is placed at 22500, below which the index might decline further.

Below 22,500, Nifty may slip to 22,400-22,360 zone, says Aditya Gaggar Director of Progressive Shares

Extending the positive momentum, Indian equities commenced the session on a firm note and were seen compounding their gains for most of the session but a sharp reversal in the last hour of trade dragged the Index lower to settle the session in red at 22,604.85.

Among the sectors, Auto was the top gainer of the day followed by Realty; and on the flip side, IT extended its southward journey while Metal segment witnessed a round of profit booking.

At record levels, the Index has made a bearish candle with a probable divergence in the RSI (not yet confirmed).

A break and close above today's high will negate the candlestick implications while trade below 22,500 will drag the index further lower to the 22,400-22,360 zone.

Sensex Today | Currency Check

Indian rupee ended marginally higher at 83.43 per dollar on Tuesday against Monday's close of 83.47.

Market Close: Indian benchmark indices erased all the intraday gains and ended in the negative zone in the highly volatile session.

At close, the Sensex was down 188.50 points or 0.25 percent at 74,482.78, and the Nifty was down 38.60 points or 0.17 percent at 22,604.80. About 1987 shares advanced, 1623 shares declined, and 141 shares unchanged.

M&M, Power Grid Corporation, Shriram Finance, Hero MotoCorp and Bajaj Auto were among the top gainers on the Nifty, while losers were Tech Mahindra, BPCL, JSW Steel, HCL Technologies and Sun Pharma.

Among sectors, IT, metal, media, oil & gas, healthcare down 0.4-1 percent, while auto, power and realty up more than a percent each.

The BSE midcap index rose 0.5 percent, while the smallcap index ended on a flat note.

Sensex Today | Cholamandalam Investment Q4 net profit up 24% at Rs 1,058 crore versus Rs 853 crore, YoY

Sensex Today | BSE Sensex fall 670 points from day's high

Sensex Today | Morgan Stanley keeps 'Overweight' call on PNB Housing Finance

-Target raised to Rs 1,025
-PAT beat estimate by 18 percent led by stronger disbursement linked fee income, lower credit costs
-Management cited that focus will be to have good balance of loan growth pick up & profitability
-Management cited that focus will be on improvement via focus on granular loans

Sensex Today | Oil steady as investors eye Mideast talks, rates meeting

Oil steadied on Tuesday after the previous day's drop as Israel-Hamas talks offered hopes of a ceasefire even as Red Sea attacks continued, while investors awaited signals on U.S. interest rates ahead of a key meeting on Wednesday.

Brent crude futures rose 27 cents, or 0.3%, to $88.67 a barrel, while U.S. West Texas Intermediate crude futures gained 30 cents, or 0.4%, to $82.93 a barrel.

The front-month contract of both benchmarks lost more than 1% on Monday.

Sensex Today | Morgan Stanley keeps 'Equal-weight' call on Trent, target at Rs 3,675

-Q4 beat on topline and margin
-Management says, will continue to expand & deepen store presence
-Operating EBIT margin for fashion business improved to 8.2 percent, YoY
-Gross margin for both formats were consistent with prior trends
-Grocery format saw continued improvement in customer traction & sales densities

Sensex Today | Nifty index falls 150 points from day's high

Sensex Today | Nifty Bank index down 500 points from day's high

Market at 3 PM | Sensex up 142 points, Nifty at 22,700

The Sensex was up 142.77 points or 0.19 percent at 74,814.05, and the Nifty was up 49.20 points or 0.22 percent at 22,692.60. About 1705 shares advanced, 1560 shares declined, and 80 shares unchanged.

Sensex Today | Dwarikesh Sugar Q4 profit down 51%; shares fall

Net profit down 51 percent at Rs 23 crore versus Rs 47 crore and revenue down 29% at Rs 380 crore versus Rs 532.5 crore, YoY.

Sensex Today | BHEL in strategic partnership agreement with HIMA, Dubai for railway signalling business

BHEL has entered into a strategic partnership agreement for the railway signalling business with M/s HIMA Middle East FZE, Dubai (A wholly owned subsidiary of HIMA Paul Hildebrandt GmbH, Germany).

BHEL has been supplying locomotives, electrics for EMU/MEMU, propulsion systems, traction motors, traction alternators, traction transformers, etc. to Indian Railways.

Sensex Today | Nifty Auto index outperorm other sectoral indices

Sensex Today | Nomura keeps ‘buy’ rating on Birlasoft, target Rs 860; shares down 3%

-Q4 revenue & margins below estimate
-Discretionary slowdown and weak order book could limit near-term growth
-Margin expansion continues under new unified organizational structure
-Revise FY25-26F EPS by 4-9 percent

Stock Market LIVE Updates | IOC Q4 net profit down 40%; shares fall 1.5%

-Net profit down 40% at Rs 4,838 crore versus Rs 8,064 crore, QoQ
-Revenue down 0.6 percent at Rs 1.97 lakh crore versus Rs 1.99 lakh crore
-EBITDA down 33 percent at Rs 10,435.3 crore versus Rs 15,488.8 crore
-Margin at 5.3 percent versus 7.8 percent

Stock Market LIVE Updates | Ashish Bansal gets additional charge as CMD of Ircon International

Ashish Bansal has received an additional charge as Chairman & Managing Director of Ircon International with effect from April 29.

However, Brijesh Kumar Gupta has relinquished the additional charge of Chairman & Managing Director of the company.

Sensex Today | Auto stocks in focus ahead of April month sales numbers

Sensex Today | BSE Bank index up 1%; IDFC First Bank, IndusInd Bank, Bank Of Baroda top gainers

Expect rupee spot to trade between 83.30-83.8 against US dollar, says Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas.

Indian rupee fell by 5 paise on Tuesday intra-day deals on positive US dollar and selling pressure from foreign investors. However, positive domestic equities and overnight decline in crude oil prices cushioned the downside. US dollar declined on Monday on strong Yen, which gained after Japanese authorities supposedly intervened in forex markets. We expect rupee to trade with a slight negative bias on a positive tone against the US Dollar and any selling pressure from foreign investors. However, improved global risk sentiments and contained geopolitical tensions in the Middle East may support the rupee at lower levels. Negative tone in crude oil prices may also favour the rupee.

Investors may remain cautious ahead of FOMC meeting on Wednesday and ISM manufacturing and services PMI data and non-farm payrolls report from the US later this week. Investors may also take cues from India’s manufacturing PMI. Rupee's spot price is expected to trade in a range of Rs 83.30 to Rs 83.80 against the US dollar.

Terrific Tuesday | Nifty hits new all-time high; second day of triple-digit gains

Sensex Today | Central Bank of India Q4 profit jumped to Rs 807 crore from Rs 571 crore, YoY

Stock Market LIVE Updates | Nifty 50 index hit fresh all-time high powered by auto stocks

Stock Market LIVE Updates | REC Q4 profit up 34%; shares up 7%

The company's Q4 net profit up 34 percent at Rs 4,016.3 crore versus Rs 3,00.9 crore, YoY.

Stock Market LIVE Updates | Symphony shares gain 7% on robust Q4 numbers

Net profit up 17% at Rs 48 crore against Rs 41 crore and revenue up 34.4% at Rs 332 crore versus Rs 247 crore, YoY.

Sensex Today | CLSA keeps 'Outperform' Call on UltraTech Cement, target Rs 11,020

-Q4 EBITDA of Rs 4,100 crore, up 24% YoY above estimate on better profitability despite a sharp correction in prices
-Variable costs were largely in-line
-Company expects Rs 200-300/tonne cost reduction over the medium-term
-Cost reduction should drive up profitability even if prices remain soft
-Forecast 10% volume and 8% EBITDA/tonne CAGR over FY24-27

Stock Market LIVE Updates | Exide Industries net profit rises 36.5% YoY in Q4; stock gains 2%

-- Net Profit up 36.5% YoY at Rs 284 cr vs Rs 208 cr

-- Revenue up 13.2% YoY at Rs 4,009.4 cr vs Rs3,543 cr

-- EBITDA up 41% YoY at Rs 516.4 cr vs Rs 366.6 cr

-- Margin at 12.8% vs 10.3% (YoY)

Stock Market LIVE Updates | Sanofi India launches diabetes drug Soliqua in India

Stock Market LIVE Updates | P&G Hygiene net profit at Rs 154 crore in Q4

--Revenue at Rs 1000 crore vs Bloomberg estimates of Rs 1011 crore

--Total Costs Rs 782 crore

--Other income Rs 13.59 crore, down 6% YoY

Stock Market LIVE Updates | Tech Mahindra along with Atento to deliver generative AI Services to enterprises

Stock Market LIVE Updates | Suzlon Energy has 2.58 million shares traded in two bunches: Bloomberg

Sensex Today | Nifty India Manufacturing index at all-time high

Sensex Today | Market at 1 PM

The Sensex was up 265.59 points or 0.36 percent at 74,936.87, and the Nifty was up 93.60 points or 0.41 percent at 22,737.00. About 1785 shares advanced, 1407 shares declined, and 90 shares unchanged.

Sensex Today | M&M remains top pick in the OEM space: Nomura

Nomura analysts believe that the launch of compact SUV - XUV 3XO has the potential to double sales of M&M. The SUV offers several best-in-class features in this facelift, said analysts. Moreover, the brokerage firm believes that M&M's new product offerings will drive re-rating from current levels.