Stock Market Highlights, April 18: Sensex declines for 4th day, drops 455 pts; Nifty below 22k

Stock market highlights on on Thursday, April 18, 2024: In the broader markets, Nifty Midcap ended 0.49 per cent lower at 38,995.70 while Smallcap lost 0.28 per cent, to settle at 16,286.35

Stock market highlights on April 18, 2024: Benchmark indices BSE Sensex and NSE Nifty, which began on a positive note, succumbed to selling pressure intraday, ending lower for a fourth session on Tuesday. 
 

BSE Sensex closed 0.62 per cent or 454.69 points lower at 72,488.99 levels, while NSE Nifty50 closed 0.69 per cent or 152.05 points lower at 21,995.85 levels.

In the broader markets, Nifty midcap ended 0.49 per cent lower at 38,995.70 while smallcap lost 0.28 per cent, to settle at 16,286.35

On the BSE, Bharti Airtel and Power Grid topped the chart while Nestle India, Axis Bank were among the major laggards.

Similarly, on the NSE, Bharti Airtel, Power Grid were the top gainers while Apollo Hospitals and Nestle India were among the top losers.

Sectorally, the Nifty Healthcare lost 1.75 per cent, followed by Nifty Oil and Gas (1.10 per cent) and Nifty FMCG (1.08 per cent).

3:53 PM

Tech View :: 21,938 make or break level for Nifty in near-term

On the daily charts, we can observe that the Nifty faced resistance at the 22,300 – 22,320 zone where the key hourly moving averages were placed. On the downside the Nifty is now approaching the lower end of the rising channel and the 78.6% Fibonacci retracement level 22,000 – 21,938.

It shall be a crucial level to watch out for during the next few trading sessions. Divergence on the hourly time frame charts suggests that there could be a pullback over the next few trading sessions, however we shall await price confirmation.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:48 PM

Tech View :: Bank Nifty may test 46,500 if bearish sentiment persists

The Bank Nifty Index remains under bearish control, with any upward movements facing aggressive selling, highlighting a prevailing "sell on rise" sentiment among traders.

The major resistance for the index is positioned at 48,000, where significant call writing activity has been observed, indicating strong resistance at this level.

The overall market tone continues to be bearish, and if the selling pressure persists, the index could test its next major support level at 46,500, where the 100-day exponential moving average (EMA) is located.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:42 PM

Currency Check :: Rupee ends flat vs US dollar

3:41 PM

Broader markets :: Mid, SmallCap indices fall in tandem with benchmarks

3:39 PM

Sectoral trends :: All indices erase losses to end up to 1% lower

3:37 PM

Sensex Heatmap :: Pvt banks, ITC, RIL weigh on benchmarks

>> Nestle India, Titan Company, Axis Bank, NTPC, Tata Motors, ITC, Bajaj Finserv, ICICI Bank, and HDFC Bank fell in the range of 1% to 3%

3:35 PM

CLOSING BELL :: Nifty ends below 22,000

3:33 PM

CLOSING BELL :: Sensex sheds 458 points, slips for 4th straight day

3:22 PM

Market Check :: Sensex slides over 400 pts

3:00 PM

Q4 Results :: Deepak Parekh steps down as Chairman, Non-Ex Director of HDFC Life

>> Net profit at Rs 412 crore vs Rs 360 crore YoY

>> Total APE at Rs 4,727 crore vs Rs 5,162 crore YoY

>> VNB at Rs 1,234 crore vs Rs 1,511 crore YoY

>> VNB Margin at 26.1% vs 29.3% YoY

>> HDFC Life misses FY24 guidance on VNB margin

2:51 PM

ICICI Securities downgrades Ashok Leyland to 'Sell', sees 20% downside

Shares of Ashok Leyland fell 2.3 per cent to Rs 172 per share on the BSE in Thursday's intraday after ICICI Securities downgraded the stock to 'Sell' from' Hold'. The brokerage has set a target price of Rs 140 for the stock, which is 20.4 per cent lower than the stock's last closing price. At 2:17 PM, the stock price of Ashok Leyland was quoting 1.9 per cent lower at Rs 172.7 apiece as against an unchanged S&P BSE Sensex. READ MORE

2:46 PM

Tata Motors to use new $1 bn TN plant to make Jaguar Land Rover cars

India's Tata Motors is planning to manufacture Jaguar Land Rover (JLR) luxury cars at a $1 billion plant that it is planning to build in the southern state of Tamil Nadu, two sources with direct knowledge of the plans said. Tata Motors announced plans to invest in a new plant in Tamil Nadu in March but did not give details on which models would be manufactured there. READ MORE

2:43 PM

Bharti Airtel signs deal to merge Sri Lankan unit with Dialog Axiata

Bharti Airtel said on Thursday it has signed an agreement to merge the operations of its Sri Lankan unit with Dialog, the island nation’s largest telecom provider and a subsidiary of Malaysia’s Axiata Group Berhad. Dialog will acquire 100 per cent of the issued shares in Airtel Lanka. In return, Airtel Lanka will be granted a stake in Dialog. "Dialog will issue to Bharti Airtel, ordinary voting shares which will amount to 10.35 per cent of the total issued shares of Dialog by way of a share swap," said Bharti Airtel in a press release. READ MORE

2:23 PM

Broader markets firm amid a volatile session

2:06 PM

Ashok Leyland, South Indian Bank sign MoU to provide financing to dealers

Commercial vehicle maker Ashok Leyland Ltd on Thursday said it has partnered with South Indian Bank for financing dealers. The company has signed a Memorandum of Understanding (MoU) to provide financing to dealers under the bank's dealer finance programme, Ashok Leyland said in a statement. READ MORE