Closing Bell: Sensex up 560 points, Nifty above 22,300; all sectors in the green

Indian benchmark indices ended higher for the second consecutive session on April 22 with Nifty around 22,350. At close, the Sensex was up 560.29 points or 0.77 percent at 73,648.62, and the Nifty was up 189.40 points or 0.86 percent at 22,336.40.

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

Bank Nifty may move towards 48470-48500, says Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

The Nifty opened the gap up and consolidated for the most of the day. The late surge helped Nifty to close with handsome gains for the second consecutive day. On the daily charts, we can observe that the Nifty has witnessed follow-through buying interest and has also managed to close above the 20- and 40-day moving averages placed in the range 22315 – 22198 which shall act as a support in the case of a dip. On the upside we expect Nifty to continue its upmove towards 22562 which is the 78.6% Fibonacci retracement level of the fall from 22776 – 21777.

As far as the Bank Nifty is concerned, the upmove is likely to continue till 48470 – 48500 which coincides with the gap area formed on the 15th of April. The momentum setup also suggests positive momentum likely to continue. On the downside, 47700 – 47620 is the crucial support zone.

Rupee likely to remain volatile between 83.20-83.65, says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

Rupee traded higher by 0.10 at 83.36 as dollar index witnessed sideways move near 105.95. But the selling in weakness in bullion & mainly Crude with more than 4% fall in last few days has contributed gains to rupee, capital market positive trend in past two session has also majorly contributed to rupee strength. The overall volatility will continue between 83.20-83.65.

Nifty could move towards 22,600-22,700, says Rupak De, Senior Technical Analyst, LKP Securities

Bulls continued to dominate the market as the Nifty gained for the second consecutive session. The trend has turned positive after reclaiming a critical near-term moving average.

Sentiment is expected to remain favorable for bulls as long as it stays above 22,150. On the upside, the index could potentially move towards 22,600-22,700. Conversely, a drop below 22,150 could lead to consolidation in the index.

22,180 will act as support for Nifty, says Aditya Gaggar Director of Progressive Shares

After a volatile opening, the Index remained rangebound for major part of the day but a sharp uptick in the last hour of trade pushed the Index further higher to settle at 22,336.40 with gains of 189.40 points.

It was a day of green as all the sectors ended the session higher with PSU Banks and Pharma being the leaders. A mixed trend was witnessed in the broader markets where Midcaps performed in line with the Benchmark Index while Smallcaps outperformed.

Nifty50 has formed a Dragonfly DOJI candlestick pattern but overall positive momentum is likely to push the Index higher to fill the bearish gap zone of 22,430-22,500 while on the lower side, a level of 22,180 (50DMA) will act as support.

Sensex Today | Market likely o consolidation in the near-term, says Vinod Nair, Head of Research, Geojit Financial Services

The Indian market extended last Friday's relief rally as Middle East tension saw some respite, though the situation remains fluid. The recovery was broad-based across sectors, with renewed interest in mid- and small caps. Gold and oil prices showed some relief but are still at elevated levels. Hawkish remarks from the US FED, driven by persistent inflation and robust economic data, spurred a rally in bond yields.

The prevailing higher interest rate environment is expected to persist longer than expected which, along with the moderating earnings growth, suggests a continuation of the consolidation in the near-term.

Sensex Today | Rupee closes higher

Indian rupee ended 11 paise higher at 83.36 per dollar on Monday against Friday's close of 83.47.

Market Close: Indian benchmark indices ended higher for the second consecutive session on April 22 with Nifty above 22,300.

At close, the Sensex was up 560.29 points or 0.77 percent at 73,648.62, and the Nifty was up 189.40 points or 0.86 percent at 22,336.40. About 2465 shares advanced, 1148 shares declined, and 134 shares unchanged.

Top Gaines on the Nifty included and BPCL, Tata Consumer Products, Eicher Motors, L&T and Shriram Finance, while losers were NTPC, HDFC Bank, JSW Steel, IndusInd Bank and Tata Steel.

All the sectoral indices ended in the green, with Auto, PSU Bank, Capital Goods, Oil & Gas, FMCG, Healthcare and Realty indices up 1-3 percent.

The BSE midcap and smallcap indices gained 1 percent each.

Stock Market LIVE Updates | Jefferies maintains buy rating on HDFC AMC, target raised to Rs 4,300

- Q4 profit of Rs 540 crore, up 44 percent YoY, was boosted by strong growth in AUM & revenues
-Q4 AUM grew 36 percent, led by 58 percent rise in equity assets on the back of strong market returns
-Profit beat was led by higher investment income & lower tax
-Core revenue missed estimate on year-end adjustments, which will normalise from Q1
-Raise estimate by 4-6 percent to factor in better cost trends

Sensex Today | BSE PSU index up 1 percent; top losers include ITI, Union Bank of India, Rashtriya Chemicals and Fertilisers 

Stock Market LIVE Updates | HSBC keeps reduce rating on Wipro, target Rs 385

-Q4FY24 was another muted quarter & guidance for Q1FY25 is sluggish
-Company continues to lose market share
-Elevation of internal veteran to CEO looks positive
-Growth acceleration doesn’t look imminent and cost-cutting continues
-Signs Of operational improvement still not imminent

Stock Market LIVE Updates | Jefferies maintains buy rating on HDFC AMC, target raised to Rs 4,300

- Q4 profit of Rs 540 crore, up 44 percent YoY, was boosted by strong growth in AUM & revenues
-Q4 AUM grew 36 percent, led by 58 percent rise in equity assets on the back of strong market returns
-Profit beat was led by higher investment income & lower tax
-Core revenue missed estimate on year-end adjustments, which will normalise from Q1
-Raise estimate by 4-6 percent to factor in better cost trends

Sensex Today | USDINR spot to trade in 83.10-83.60 range, says Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas

Indian Rupee appreciated on Monday on positive domestic markets and a soft US Dollar. A decline in crude oil prices also supported the Rupee. Israel and Iran have downplayed the risk of escalation of hostilities between the two nations. However, the ongoing Middle East conflict capped sharp gains. US Dollar eased as the tensions between Israel and Iran seem contained over the weekend. The Dollar still managed to stay above the 106 mark on hawkish US Federal Reserve.

We expect Rupee to trade with a slight positive bias amid easing of geopolitical tensions in the Middle East which improved global risk sentiments. Retreating US Dollar and crude oil prices may also support the Rupee. However, any fresh aggressions in the Middle East may cap sharp upside. Investors may remain cautious ahead of PMI and inflation data from US this week. USDINR spot price is expected to trade in a range of Rs 83.10 to Rs 83.60.

Sensex Today | 1.32 million shares of Indus Towers traded in a bunch: Bloomberg

Sensex Today | Market at 3 PM

The Sensex was up 487.46 points or 0.67 percent at 73,575.79, and the Nifty was up 169.70 points or 0.77 percent at 22,316.70. About 2358 shares advanced, 1004 shares declined, and 125 shares unchanged.

Stock Market LIVE Updates | UBS upgrade Voltas to buy, target raised to Rs 1,800 from Rs 885

-Believe company will surprise on market share in room air conditioner segment, reaching 23 percent in FY26 versus 19.5 percent for consensus
-Voltbek JV should also continue to gain market share
-Voltbek JV should boost profitability by breaking even in FY26
-Expect incremental revenue of Rs 10,000 crore, 60 percent of FY27 revenue in consumer electronics by FY27
-Lift FY24-26 EPS 4-31 percent & expect 20 percent/28 percent revenue/EBITDA CAGR over FY23-26

Sensex Today | Europena markets gain; FTSE up 1.3 percent

Stock Market LIVE Updates | Motilal Oswal keeps buy rating HDFC Bank, target Rs 1,950

-Q4 core performance in-line, margin improve QoQ
-Prudently deploys one-off gains to boost floating provisions
-Adjusted PAT in-line, CD ratio, liquidity coverage ratio improves
-Over FY24-26, estimate company to deliver 13.5 percent/18 percent CAGR in loans/deposits
-16 percent CAGR in earnings, translating into RoA/RoE of 1.9 percent/15.5 percent by FY26

Sensex Today | BSE Auto index rose 1 percent; Eicher Motors, Cummins, Hero MotoCorp among major gainers

Stock Market LIVE Updates | Coforge appoints Om Prakash Bhatt as additional director

The board of directors of Coforge approved appointment of Mr. Om Prakash Bhatt as an additional director and non-executive independent director.

Sensex Today | NCLT admits personal insolvency plea against Subhash Chandra, filed by Indiabulls Housing, reported CNBC-TV18.

Market LIVE Updates | Vodafone Idea FPO Update

--Total Subscription 3.3x, Retail 0.5x, NIIs 2.6x & QIBs 8.7x till 2:35 pm

Market LIVE Updates | Rajratan Global Wire reports Q4 earnings

- Net Profit Down 1.5% At Rs20 Cr Vs Rs20.3 Cr (YoY)

- Revenue up 9.4% At Rs240 Cr Vs Rs219.4 Cr (YoY)

- EBITDA up 3% At Rs34.8 Cr Vs Rs33.8 Cr (YoY)

- Margin At 14.5% Vs 15.4% (YoY)

Market LIVE Updates | MAN Industries says approval from Shell Global for pipeline coating provides a big opportunity:CNBC TV

--Stock FY25 Guidance; Revenue +20% to 25% with margins at 11%

--Order book at Rs2100 cr

Sensex Today | Bharti Airtel unveils affordable international roaming packs

Bharti Airtel unveiled affordable international roaming packs for customers travelling abroad.

The new packs include access to 184 countries and the tariffs start at as low as Rs. 133/day, making them an affordable option even when compared to local sims. In addition, they offer enhanced data benefits, inflight connectivity and 24x7 contact centre support.

Stock Market LIVE Updates | Satin Creditcare Network to consider fund raising on April 24

Satin Creditcare Network said that the board of directors will be meeting on April 24 to consider the fund raising via issuance of non-convertible debentures on private placement basis.

Stock Market LIVE Updates | Central Bank Of India enters into distributorship agreement with Aditya Birla Sun Life AMC

Central Bank Of India has entered into a distributorship agreement with Aditya Birla Sun Life AMC for distribution of their mutual fund products to bank's customers on Do it yourself (DIY) model.

Sensex Today | Market at 2 PM

The Sensex was up 389.45 points or 0.53 percent at 73,477.78, and the Nifty was up 143.70 points or 0.65 percent at 22,290.70. About 2386 shares advanced, 961 shares declined, and 114 shares unchanged.

Sensex Today | Nifty PSU Bank index up 2.3 percent; Union Bank of India, Punjab & Sind Bank, Bank of Maharashtra among major gainers

Sensex Today | Nomura maintains reduce call on Wipro, target Rs 410

-Q4FY24 results largely in-line with estimate
-No big bang changes under the new CEO
-Q1FY25 guidance reflects discretionary weakness
-Q1FY25 guidance is weak
-Margin improvement to moderate going forward in FY25

Stock Market LIVE Updates | ICICI Bank to consider fund raising

ICICI Bank said that the board will be meeting on April 27 to consider fund raising via issuance of debt securities in domestic markets.

Sensex Today | Bharti Airtel, M&M among BSE Sensex stocks, which touched their 52-week high

Stock Market LIVE Updates | Sanghvi Movers' Joint Managing Director Sham Dattatraya Kajale resigns

Sham Dattatraya Kajale has decided to step down as Joint Managing Director of Sanghvi Movers, but would continue as Chief Financial Officer of the company. He would like to concentrate on future strategic and financial planning.

Stock Market LIVE Updates | Allcargo Gati's total volume rises 3% YoY to 111kt

Allcargo Gati's total volume, including surface and air express, stood at 111kt for the month of March 2024, an increase of 3% compared to March 2023, and up 7% compared to February 2024.

Stock Market LIVE Updates | UBS keeps sell rating on Wipro, target Rs 430 per share

-Management optimism in last quarter around revival in consulting
-A weak Q1FY25 guidance also indicates revival is still some time away
-Large deal TCV growing 30 percent QoQ is good but not enough
-Company has not been able to translate its order book into revenue since past couple of quarters
-Cut earnings estimates on lower-than- estimate guidance by 5 percent & 4 percent for FY25 and FY26

Sensex Today | Tata Consumer Products, Hero MotoCorp, Eicher Motors among others which shows recovery from their lows