Indices end choppy day in the green; Sensex up 28 pts; Wipro soars 9%

Wipro, which jumped 10 per cent in the intra-day trade and hit a record high of Rs 474 on the NSE, ended as the top gainer on the Nifty after clocking its best performance in Q4 in a decade

12:25 PM

Monsoon to be normal this year in India, says IMD in good news for economy

India will probably experience normal monsoon rainfall this year as La Nina or El Nino weather conditions, which impact rain patterns, are likely to be absent, according to according to state-run forecaster India Meteorological Department. Skymet, a private weather forecasting agency, had said on Tuesday the southwest monsoon in 2021 starting June is likely to be ‘normal’ at 103 per cent of the Long Period Average (LPA). READ MORE

12:13 PM

Bond markets ignore RBI's G-Sap largesse on rising inflation; yields soar

Bond yields shot up more than 10 basis points after the first auction under the much-publicised G-sec Acquisition Programme (G-SAP 1.0), casting doubts about its effectiveness at a the time when the pandemic upsurge is threatening to halt economic revival in the country. The G-SAP, on the contrary, was supposed to keep liquidity in the markets. READ MORE

12:00 PM

Should you sell on a rally or buy on dips? Here's what charts say

S&P BSE SENSEX

Likely target: 51,500 - 52,200 (above 50,000 levels)

Upside potential: 3.00% - 4.40%

The index has shown a rebound around the 100-days moving average (DMA). This momentum, however, needs to see follow-up buying in coming days to regain strength. Once that happens, the index may conquer 50,000 levels. A breakout above this level may build a bullish sentiment in the index, taking it towards 51,500 to 52,200 levels, as per the daily chart. On the downside, if the crucial support of 47,500 gets broken, the resultant sell-off may aggravate the build-up of short positions. READ MORE

11:51 AM

MARKET UPDATE:: Sensex off day's high

11:40 AM

Ashoka Buildcon soars 11% on order win from Gujarat Rail Infrastructure

Shares of Ashoka Buildcon jumped 11 per cent to Rs 98.50 on the BSE in intra-day trade on Friday, after the company received a letter of award (LOA) from Gujarat Rail Infrastructure Development Corp (G-RIDE). "The LOA is for the project 'Gauge conversion of Bechraji (63.83 KM) - Ranuj (101.983 KM) Section, total length of 38.1 km metre gauge to broad gauge with 25 KV AC electrification in Ahmedabad. The accepted project cost is Rs 333.625 crore," Ashoka Buildcon said in a exchange filing. READ MORE

11:25 AM

Praj Industries extends rally after it wins order to set up ethanol plant

Shares of Praj Industries surged 7.5 per cent to Rs 226.90 on the BSE in the intra-day trade on Friday, gaining 18 per cent in the past three trading days, after the company bagged an order to set up India's largest capacity syrup-based ethanol plant from a Godavari Biorefineries Ltd (GBL) in Karnataka. The company, however, did not disclose the value of the contract. READ MORE

11:18 AM

Citi's exit from retail banking an opportunity for Indian banks: Analysts

Citi’s exit from retail banking business in India is likely to pave the way for consolidation in the Indian financial sector with smaller private players, including SBI Cards, ICICI Bank, Axis Bank, vying for an increased market share across business verticals, say analysts. Those at Jefferies, for instance, suggest opportunities could open up either to acquire the existing stock of Citibank's clients and / or gain market share in segments like credit cards, deposits and retail loans. READ MORE

11:10 AM

India reports highest-ever single-day spike with 2,17,353 Covid-19 cases

A record single-day rise of 2,17,353new coronavirus infections took India's total tally of COVID-19 cases to1,42,91,917,while active cases surpassed the 15-lakh mark,according to the Union Health Ministry data updated on Friday. The death toll increased to1,74,308 with 1,185 new fatalities,the highest since September 19, 2020,the data updated at 8 am showed. READ MORE

11:05 AM

Top gainers on the BSE at this hour

Company	PRICE(rs)	CHG(%)
DCM Shriram	620.40	10.99
Wipro	469.00	8.82
Ashoka Buildcon	96.20	8.15
CARE Ratings	477.00	7.41
Sterling & Wils.	326.00	6.62

10:54 AM

PVR, Inox Leisure hit seven-month low; tank up to 28% in a month

As per new guidelines by the Delhi government to curb the spread of Covid-19, cinema halls are allowed to operate at 30 per cent occupancy compared to 50 per cent earlier. During the Covid-19 curfew in Delhi over the weekend, shopping malls, auditoriums, restaurants, gyms and spas will remain shut till further orders, while cinema theatres will be allowed to screen movies with 30 per cent of their seating capacities on weekdays. READ MORE

10:42 AM

Taper tantrum, inflation surpass Covid as top market risk: BofA survey

“A year ago, Covid-19 was named a global pandemic on March 11. Now in April 2021, a mere 15 per cent cite COVID-19 risk as the biggest tail risk, lower than even "higher taxes" at 15 per cent. Taper Tantrum is now first at 32 per cent, followed by inflation at 27 per cent,” said the brokerage in a note.

 

The BofA Survey was conducted between April 6 and 12 with over 200 panelists with $553 billion in assets under management participating. READ MORE

10:29 AM

MARKET UPDATE:: Broader indices outperform benchmarks

10:16 AM

Century Plyboards rallies 24% in 3 days; stock nears record high

At 09:46 am, Century Plyboards was trading 6 per cent higher at Rs 352, as compared to 0.42 per cent rise in the S&P BSE Sensex. The trading volumes on the counter nearly doubled as compared to two-week average volumes. A combined around 715,000 equity shares had changed hands on the counter in first 30 minutes of trade on the NSE and BSE. READ MORE

10:03 AM

Rupee Opening

Rupee opens stronger at 74.77 per US dollar vs Thursday's close of 74.92/$

10:00 AM

Wipro surges 6%, nears record high on healthy March quarter results

Shares of Wipro rallied 6 per cent to Rs 456 on the BSE in intra-day trade on Friday after the company reported a healthy IT services revenue growth and margins in the March quarter (Q4FY21). The stock hit its record high of Rs 467, in intra-day trade on January 13. READ MORE