Stock Market Highlights, April 3: Sensex, Nifty end flat; smallcaps extend rally; Bharti Hexa IPO subscribed 30%

Stock market Update on Wednesday, April 03: Till 3:30 PM, Bharti Hexacom IPO was subscribed 30 per cent led by retail investors

Closing Bell on April 3, 2024: Benchmark indices were listless on Wednesday moving in a narrow range on either side of the flatline as investors looked for cues. 

The S&P BSE Sensex, after oscillating in a 600-point range, ended at 73,877, down 27 points or 0.04 per cent. The Nifty50, on the other hand, closed at 22,435, down 19 points or 0.08 per cent. 

While Shriram Finance, Divis Labs, NTPC, TCS, Bharti Airtel, Axis Bank, Tech M, and Bajaj Finance led the gains, Nestle India, Bajaj Auto, Dr Reddy's Labs, Kotak Bank, Britannia, HDFC Life, Titan Company, JSW Steel, Cipla, Maruti Suzuki, IndusInd Bank, and Adani Enterprises dragged the most.

In the broader markets, the BSE MidCap index hit a new record high before closing 0.6 per cent higher, while the BSE SmallCap index advanced 1.2 per cent.

Among sectors, the Nifty Realty index fell 2.6 per cent, and the Nifty FMCG slipped 0.4 per cent. On the upside, the Nifty PSU Bank added 1.8 per cent.

3:48 PM

Tech View :: 'Overall sentiment for Nifty remains robust'

Nifty remained volatile throughout the day after an initial weak start attributed to negative global cues. Despite this, the overall sentiment remains robust as the index sustains itself above key moving averages. The Relative Strength Index (RSI) indicates bullish momentum in the short term. Over the short term, the index may trend towards 22,650. Support is positioned at 22,350 on the lower end.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:46 PM

Tech View :: Bank Nifty to consolidate in this range

The Bank Nifty index experienced buying pressure from lower levels and managed to sustain above the support zone of 47,500-47,400.

However, it faces immediate resistance at 48,000, and a decisive breakthrough could trigger further short-covering rallies towards the 49,000 mark.

It's anticipated to consolidate within the range of 47,400-48,000 leading up to the RBI policy announcement, with potential trending moves expected thereafter.

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

3:44 PM

Currency check :: Rupee slips 5 paise vs US dollar

3:43 PM

IPO Alert :: Bharti Hexacom issue subscribed 29% till 3:30 PM on day 1

3:41 PM

Broader markets extend rally; SmallCap index outperforms for 2nd day

3:40 PM

Sectoral trends :: Realty, FMCG stocks slide

3:39 PM

Sensex Heatmap :: NTPC, IT, Bajaj Fin shares cap downside

3:37 PM

Closing Bell :: Nifty ends below 22,450

3:37 PM

Closing Bell :: Sensex swings 600 pts, ends flat

3:28 PM

ALERT :: NLC India mulls selling renewable assets worth Rs 6,000 crore, reports Bloomberg

3:18 PM

BSE Midcap index hits new high; analysts see more upside in months ahead

"The sell-off seen in March was par for the course. It is quite normal for the markets to see some profit taking as the financial year ends. That said, I think the worst is over for the mid-and small-caps and investors can start picking selectively from these two market segments," said Kishor Ostwal, managing director, CNI Research. READ MORE

3:03 PM

'Goldilocks' economy to prompt RBI to keep rates on hold: Economists

As India heads into a general election this month, the economy is growing faster than expected amid signs prices are trending lower though food inflation remains a risk. READ MORE

2:52 PM

Japan's economy recovers to full capacity, keeps rate hike prospects alive

Japan's economic output recovered to full capacity for the first time in about four years in the October-December quarter, a positive sign that may allow the central bank to raise interest rates again. READ MORE

2:38 PM

Smallcap firm Ramky Infrastructure soars 7% on raising Rs 300 cr via NCDs

The company's stock has rallied 26 per cent in the last three trading days while merely it grew 3.02 per cent in the last six months. READ MORE

2:25 PM

Sector ALERT:: Realty index down 2%; DLF, Godrej Properties, Lodha top drags