Sensex, Nifty end flat after listless day; ITC, TCS up 2%; realty stks dip

CLOSING BELL: The broader indices ended marginally in red, with Midcap index declining 0.4 per cent, and the Smallcap index down 0.3 per cent.

Stock Market Highlights: The key benchmark indices consolidated in a narrow range in trades on Friday, while stock-and-sector specific activity dominated the proceedings. Among the frontline stocks, ITC and TCS logged strong gains even as auto, metal and realty stocks slid amid selling pressure.

ITC surpassed HDFC in terms of market capitalisation to become the 7th most valued firm in India. The stock gained 1.9 per cent at Rs 408. READ MORE

TCS too moved up 1.8 per cent today. Among the other IT peers, Wipro and HCL Technologies also gained over a per cent each, while Infosys edged 0.3 per cent higher. 

On the flip side, Tech Mahindra was the top loser among the Sensex 30 stocks, down over 2 per cent. The stock has shed 9 per cent in the last five trading sessions amid downgrades by Citi and JP Morgan.

Maurti Suzuki, Tata Steel, UltraTech Cement, Tata Motors, Bajaj Finserv, IndusInd Bank, ICICI Bank and Bharti Airtel declined 1-2 per cent each.

The S&P Sensex swung in a narrow band of 368 points before settling at 59,655, up 23 points. The NSE Nifty 50 ended almost unmoved at 17,624.

The broader markets ended with marginal losses. The BSE Midcap index was down 0.4 per cent, and the Smallcap 0.3 per cent.

Sectorally, the BSE Realty index cracked 2 per cent. The Auto and Metal indices slipped a per cent each. On the positive front, the FMCG index advanced 0.8 per cent, and the IT index added 0.6 per cent.
 

4:05 PM

Tech View :: These are the key levels for Nifty Bank for upcoming sessions

The BANK NIFTY index witnessed a volatile trading session and it closed around the critical support zone of 42,000. The index is consolidating in a broad range between 42,000-42,500 and a break on either side will have trending moves. The index if it fails to hold the support of 42,000 on a closing basis will witness further downside toward the 41,500 level.

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

4:00 PM

Comment :: 'Critical for Nifty to hold 17,500 post RIL, ICICI Bank Q4 results'

Participants will react to Reliance and ICICI Bank numbers in early trades on Monday and that might provide the needed trigger. Needless to say, it’s critical for Nifty to hold the 17,400-17,500 zone to maintain the positive bias otherwise the recovery would derail. 

Views by: Ajit Mishra, VP - Technical Research, Religare Broking

3:58 PM

Comment :: 'RBI minutes show MPC concerned about inflation'

Mounting uncertainty in both global and domestic markets has kept Indian equities highly volatile. Weak signals of a softening job market and declining manufacturing activity in the US have raised fears of a possible recession. Despite the RBI MPC’s unanimous decision to pause rates, its minutes revealed that its members continue to hold concerns about high inflation. However, the market received some support towards the closing bell from the IT and FMCG sectors, facilitating its recovery.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.

3:55 PM

ICICI Bank to report Q4 result on April 22; here's what brokerages expect

According to consensus estimates by Bloomberg, ICICI Bank's profit after tax (PAT) may come in at Rs 9,304 crore, up 12 per cent quarter-on-quarter (QoQ) and 32.6 per cent year-on-year (YoY).

 

Better-than-industry loan growth, meanwhile, may drive its net interest income (NII) 4 per cent QoQ/29 per cent YoY higher to Rs 22,304 crore. READ MORE

3:53 PM

HDFC MERGER UPDATE :: HDFC Bank to comply with extant requirements of CRR, SLR and LCR without exceptions

>> Priority Sector Lending; Adjusted Net Bank Credit may be calculated considering one-third of the outstanding loans of HDFC Limited as on the Effective Date of the Amalgamation

>> Investments: Investments including subsidiaries and associates of HDFC Limited are allowed to continue as investments of HDFC Bank.

>> Interest rate benchmarks: One time mapping of all borrowers of HDFC Limited would need to be done by HDFC Bank for benchmark and spreads

>> Loan Against Shares: Basis the list submitted by HDFC Limited, RBI has permitted loan against shares for promoter contribution / in excess of Rs. 20 lacs to the individuals, to continue for its existing duration / maturity

Click here for details

3:49 PM

Currency check :: Rupee ends at 82.09/$ vs Thursday’s close of 82.15/$

3:46 PM

Buzzing stock :: Vodafone Idea sprints 7% as KM Birla returns to Board

3:44 PM

Buzzing stock :: RIL settles off lows ahead of QW4 results later today

Analysts expect steady improvement across all segments of Reliance Industries in Q4FY23, with stronger base gross refining margins, and reduced impact of windfall tax READ MORE

3:43 PM

Buzzing stock :: Tech Mahindra slides 9% in 5 days; JPMorgan downgrades stock

3:41 PM

Buzzing stock :: At 5.06 trn, ITC is now 7th most valued firm; stock ends near record high

3:39 PM

Sector check :: Oberoi Realty, Indiabulls RE drop up to 4% amid weakness in Realty pack

3:38 PM

Broader markets trail benchmarks; MidCaps worst hit

3:37 PM

Sectoral trends :: Nifty Realty slips over 2%, Media, FMCG rise in muted trade

3:35 PM

Sensex Heatmap :: Tech M, Maruti, Tata Steel settle as top laggards; ITC shines

3:34 PM

CLOSING BELL :: Nifty ends below 17,650