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Recovery from the support level of around 14,700 (Nifty50) is positive from a short-term perspective… The index is expected to gain momentum to increase the odds of fresh breakouts above 14,900, leading to an upside projection till the 15,300 levels. Momentum indicators like RSI and MACD support the upside move indicating that the potential of a fresh breakout is exceptionally high.
– Ashis Biswas, CapitalVia Global Research
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Broader markets outperform headline peers
- S&P BSE Midcap up 1.47%
- S&P BSE Smallcap up 1.71%
The broadest gauge on BSE — the BSE 500 index — traded 1.19% higher in late afternoon deals, higher than the S&P BSE Sensex’s 0.93% gain.
Sun Pharma, India Cements, 75 other stocks send out buy signal, suggests MACD
Hikal, Jain Irrigation, Usha Martin, NHPC, Caplin Point, SJVN, SRF and Mastekl looked strong on the momentum indicator.
Most bank stocks jump; HDFC Bank bucks trend
Nifty Bank rises 1.53%, Nifty PSU Bank 2.23%, Nifty Private Bank 1.75%
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Nifty Metal index surges 5%, leads NSE sectoral gauges
Price as on 01 Apr, 2021 02:55 PM, Click on company names for their live prices.
IndusInd Bank, Kotak Mahindra Bank, Bajaj Auto, HCL Tech, Axis Bank, RIL top Sensex gainers
On the other hand, HUL, Nestle, TCS and HDFC Bank, down between 0.21% and 0.79%, were the only laggards in the 30-scrip benchmark index.
BREAKING | Sensex surges over 500 points to cross 50,000, Nifty tops 14,850
Here are the top gainers in the tourism and hospitality space
Price as on 01 Apr, 2021 02:46 PM, Click on company names for their live prices.
Airtel Africa mobile money biz gets $100 million infusion from Mastercard
Price as on 01 Apr, 2021 02:05 PM, Click on company names for their live prices.
Nifty Auto index up 1%. Here’s how auto stocks fared
Price as on 01 Apr, 2021 01:55 PM, Click on company names for their live prices.
Fear gauge VIX eases 2%
NSE’s India VIX index — which measures the expectation of volatility in the near term — was down 2.21% at 20.19 in afternoon deals. It had slid to as low as 19.73 earlier during the session.
RIL, Infosys, Kotak Mahindra Bank top boosts for Sensex
On the other hand, selling pressure in HDFC Bank and HUL limited the upside in the 30-scrip benchmark index.
Mahindra reports sale of 40,403 units in March
Mahindra & Mahindra (M&M) on Thursday said it has sold a total of 40,403 units in March. The company had dispatched 6,679 units in March 2020 amid sales disruptions due to COVID-19 pandemic. The Mumbai-based automaker sold 16,700 passenger vehicles last month in the domestic market. It had dispatched 3,383 units in March 2020.
PFC pays interim dividend of Rs 1,182.63 cr to govt for 2020-21
State-run Power Finance Corporation (PFC) has paid an interim dividend of Rs 1,182.63 crore to the government for financial year 2020-21. “Power Finance Corporation has paid an interim dividend of Rs 1,182.63 crore to government of India for the financial year 2020-21 on March 31st, 2021 on 1,47,82,91,778 number of equity shares (56 per cent) held by the government,” a PFC statement said.
The market could not maintain higher levels and took support near 14,700, after a gap-up opening following global peers. We can expect Nifty to trade in the zone of 14,500-14,900. After a breakout above 14,900, we can expect the market to show some positive momentum and trade till the levels of 15,200
– Likhita Chepa, CapitalVia Global Research
Tata Consumer Products to divest stake in US-based Empirical Group, Southern Tea
Tata Consumer Products Ltd (TCPL) on Thursday announced exit from its two US-based joint ventures by selling its stake to the JV partner Harris Tea Company LLC. TCPL’s step-down subsidiaries in the USA have decided to divest their entire membership interest in Empirical Group LLC and Southern Tea LLC to the JV partner Harris Tea Company LLC, USA (Harris Tea), the company informed in a regulatory filing.
Maruti Suzuki reports sale of 1,67,014 units in March
The country’s largest carmaker Maruti Suzuki India (MSI) on Thursday reported total sales of 1,67,014 units in March. The company had sold 83,792 units in March last year amid nationwide lockdown due to the coronavirus pandemic.
PSU banks rally; IOB, Central Bank up 5%
Price as on 01 Apr, 2021 12:02 PM, Click on company names for their live prices.
Macrotech’s Rs 2,500 crore IPO to open April 7
Realty major Macrotech Developers, erstwhile Lodha Developers, will open its proposed Rs 2,500 crore Initial Public Offering of equity shares on April 7 and close on April 9. The country’s largest property developer has set a price band for the offer at Rs 483 – Rs. 486 per equity share. Minimum Bid Lot is 30 equity shares and in multiples of 30 equity shares thereafter, the company said in a release.
NSE reduces market lot size for Nifty 50 derivative contracts
The National Stock Exchange (NSE) has slashed the market lot size for derivative contracts on Nifty 50, a move that will reduce the burden of excessive upfront margins for retail traders. The lot size has been reduced to 50 from the existing 75, NSE said in a circular on Wednesday.
While the Covid second wave is a cause of worry, its economic impact appears to be insignificant now. In April, the market is likely to be influenced by Q4 results. IT, leading financials, cement, metal, pharma, leading telecom companies and some FMCG firms are likely to report very good results. The market will discount these earnings in advance.
– VK Vijayakumar, Geojit Financial Services
Steel stocks rally
Price as on 01 Apr, 2021 11:17 AM, Click on company names for their live prices.
Will March auto sales numbers surprise? Here’s what to expect
Last year’s low base will distort monthly auto sales figures for March on a year-on-year basis, while growth in wholesale numbers is expected to remain strong on a month-on month basis, and retail volumes are also expected to be better than February’s, analysts said after channel checks.
Geojit initiates coverage on Narayana Health, Power Mech
- Buy Narayana Health | Target: Rs 517 (12M) | Return: 28%
- Buy Power Mech Projects | Target: Rs 727 (12M) | 24%
Nifty PSU Bank index jumps 1.24%, Nifty Bank up 0.30% as state-run lenders spike
Price as on 01 Apr, 2021 10:29 AM, Click on company names for their live prices.
Buy GAIL, Bharat Petroleum: Motilal Oswal
- Buy GAIL, target Rs 170
- Buy BPCL, target Rs 520
IT, oil & gas, auto stocks top Nifty50 movers
Infosys, Reliance Industries, HCL Tech, HDFC top boosts for Sensex
OPENING BELL | Sensex rises 350 points, Nifty near 14,800
IOB rallies 7%, NIIT 7%
Pre-open session: Sensex gains 270 points, Nifty nears 14,750
SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 118.50 points, or 0.80 per cent, higher at 14,864.50 in signs that Dalal Street was headed for a positive start on Thursday.
Tech View: Nifty support at 14,620
If the index trades below 14,670 level on Thursday, it would make an attempt to bridge the bullish gap present in the 14,617-14,572 zone, which was formed on March 30. Usually, such gaps act as support points on the downside and, hence, some buying should be expected if the index approaches the said zone, said analysts.
Asian markets rise in early trade
Asian stocks were set to edge higher early on Thursday after big tech rallied on Wall Street and as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan. Australian S&P/ASX 200 index rose 0.3 per cent in early trading, while Hong Kong’s Hang Seng index rose 0.54 per cent.Japan’s Nikkei225 index advanced 1.20 per cent.
US Prez Joe Biden unveils $2 trillion package
US President Joe Biden has unveiled a $2 trillion package to upgrade and overhaul American physical infrastructure. Biden’s proposals include raising the corporate tax rate to 28 per cent from 21 per cent and efforts to force MNCs to pay significantly more in tax to the US on profits they earn and book overseas. His proposals also included an investment of $621 billion into transportation infrastructures.
US stocks settled higher
The S&P500 index rose 14.34 points to 3,972.89. It was the index’s first gain since it set a record high at the end of last week. A late-afternoon fade pulled the Dow Jones Industrial Average 85.41 points lower, or a drop of 0.3 per cent, to 32,981.55. The tech-heavy Nasdaq composite climbed 201.48 points, or 1.5 per cent, to 13,246.87.
DIIs buy Rs 2082 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 1,685.91 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 2081.52 crore, data suggests.
Rupee settles 26 paise higher at 73.12 against dollar
The rupee closed higher by 26 paise at 73.12 (provisional) against the US dollar on Wednesday and ended the fiscal on a strong note with a gain of over 3 per cent despite coronavirus-induced disruptions on the economic front. At the interbank forex market, the local unit opened at 73.56 against the greenback and witnessed an intra-day high of 73.05 and a low of 73.58.
Sensex, Nifty on Wednesday
Equity benchmark Sensex tanked 627 points to end below the 50,000 level on the last day of 2020-21 fiscal due to heavy profit booking in HDFC twins, RIL and Infosys but closed the financial year with a whopping 68 per cent rise. The 30-share BSE index ended lower by 627.43 points or 1.25 per cent at 49,509.15 with 19 of its constituents ending in the red on Wednesday. The broader NSE Nifty slumped 154.40 points or 1.04 per cent to close at 14,690.70.
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