Sensex starts FY22 with a 521-pt gain, ends above 50K; Metals, PSBs shine

The overall market breadth was in the ratio of 1:3 in the favour of advances

11:05 AM

Markets at 11 AM :: Sectoral trends on the NSE

11:03 AM

MARKET UPDATE:: Sensex pares gains

10:59 AM

NEWS ALERT :: Steel Strips Wheels achieves highest ever wheel rim sales of 16.73 lakh units in March 2021

10:51 AM

Returns from equities likely to be lower in FY22, say market experts

Despite the Sensex’s 74 per cent run-up over the past year, the Indian equity market could still reward investors if the expected revival in earnings materialises, according to market experts. Returns during the coming year are more likely to be in line with longer-term trends (the Sensex’s five-year return is around 14 per cent). READ MORE

10:40 AM

JSW Steel hits new high on hope of strong recovery in operating performance

Shares of JSW Steel, on Thursday, rose 5 per cent and hit a new high of Rs 490.95 on the BSE in intra-day trade after credit ratings agency Moody's Investors Service changed the outlook on all ratings of the company’s instruments to stable from 'negative', led by strong recovery in operating performance. Moody’s, on Wednesday, has affirmed the JSW Steel’s Ba2 corporate family rating (CFR) and the Ba2 rating on the senior unsecured notes issued by the steel major. The rating agency also affirmed the Ba2 rating on the senior unsecured notes guaranteed by JSW and issued by its wholly owned indirect subsidiary, Periama Holdings. READ MORE

10:34 AM

Forex market update

> Indian currency market will remain shut on April 1 on account of annual bank closing.

 

10:30 AM

OPEC+ panel lowers oil demand growth forecast by 300,000 barrels per day

OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day reflecting concerns about the market's recovery as new coronavirus lockdowns take hold, a move that could strengthen the case for a cautious output decision this week. The Joint Technical Committee, which advises the group of oil-producing nations that includes Saudi Arabia and Russia, met on Tuesday ahead of a ministerial meeting on Thursday to decide output policy. READ MORE

 

10:22 AM

Unfazed by Covid onslaught, brokerages eye up to 50% upside in IRCTC

The stock, which is a play on the growth story of Indian Railways, has corrected 15 per cent from its 52-week high level of Rs 2,072.95 scaled on March 9 amid worries over the steady rise in Covid cases. Yet, this has not deterred brokerages from holding a bullish view on the stock. READ MORE

10:12 AM

After decade-best performance in FY21, where are markets headed in FY22?

Despite the economy slipping into a technical recession with all the economic activity coming to a standstill for months together, markets registered their best financial year performance in a decade.
 

But with bond yields rising, and India witnessing a sharper and stronger second wave of Covid-19, how does the investment landscape look like for fiscal year 2021-22? LISTEN TO THE PODCAST HERE

10:02 AM

NIIT surges 19% on announcement of share buyback schedule

Shares of NIIT surged 19 per cent to Rs 163.70 on the BSE in intra-day trade on Thursday after the company announced that its buyback offer would open on April 12, 2021. The buyback, which is proposed to be made under the tender offer route, will close on April 28, 2021. The company’s board on December 24, 2020, had approved an up to Rs 237 crore (of around 9.8 million shares) buyback proposal at Rs 240 per equity share. READ MORE

9:57 AM

Top gainers on the BSE at this hour

Company	PRICE(rs)	CHG(%)
Future Consumer	6.58	9.85
IIFL Wealth Mgt	1329.65	7.23
Shri.City Union.	1436.00	5.38
I O B	16.85	5.31
Birlasoft Ltd	266.30	5.30

9:52 AM

MARKET COMMENT :: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The pulls and pressures from important triggers are unduely impacting the market in the very short run. The last day of FY 21 witnessed massive buying by DIIs (Rs 2021 cr) in an attempt to shore up the NAVs of their mutual fund schemes for the year end. But this was thwarted by heavy FII selling ( Rs 1686 cr) triggered by MSCI rebalancing. Now that the year end considerations are over, markets are likely to consolidate and respond to news relating to the evonomic impact of the second wave of Covid-19 and other fundamental factors. While the 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 the Q4 results. IT, leading financials, cement, metals, pharma, leading telecom companies and some FMCG firms are likely to post very good results.The market will discount these results in advance

9:45 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	9.33	0.86	5163717
Central Bank	17.00	3.98	1434565
I O B	17.10	6.88	1030978
Punjab Natl.Bank	37.00	0.95	711616
Future Retail	44.80	4.92	697160

9:41 AM

MARKET CHECK :: Sensex off highs

9:37 AM

Rossari Biotech adds over 1%

>> The company has fully operationalised all phases of its Greenfield manufacturing facility at Dahej, Gujarat. The Greenfield facility will have a total installed capacity of 132,500 MTPA.