Stock Market Highlights, April 10: Sensex rises 354 pts, Nifty holds 22,750; broader indices outshine

Stock market updates on Wednesday, April 10: Among sectors, the Nifty PSU Bank, FMCG, Media, and Metal indices gained in the range o 1.23 per cent to 1.80 per cent

3:46 PM

Tech View :: 'Decisive move above 22,750 in Nifty might induce a rally towards 23,000'

The Nifty mostly remained sideways today as investors preferred to wait ahead of the US CPI inflation data, which could potentially impact rate cuts by the Fed. The resistance zone is placed at 22,700-22,750, while support is at 22,600. A decisive move above 22,750 might induce a rally towards 23,000 in the short term. Since the market appears to be range-bound, buying on dips and selling on rallies might prove to be a good strategy with proper stop-loss measures.

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

3:45 PM

Comment :: 'Investors remains fixated on impending release of the FOMC minutes, US inflation data'

Indian markets sustained their upward momentum, buoyed by a robust performance in the broader market, albeit slightly lagging behind its Asian and European counterparts. Investor attention remains fixated on the impending release of the FOMC minutes and US inflation data later today. Following the release of strong US job data, market sentiments are inclined towards an anticipation of spike inflation, thereby reducing the likelihood of a near-term rate cut. Additionally, Fitch's recent downgrade of China's credit rating could potentially reverberate through the global economy, warranting a caution.

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

 

3:43 PM

Currency check :: Rupee gains 12 paise vs US dollar, ends at 83.19/$

3:42 PM

Broader markets :: MidCap index adds nearly 1%

3:41 PM

Sectoral trends :: Nifty PSU Bank, Media rally up to 1.8%

3:40 PM

Sensex Heatmap :: ITC, SBI, Airtel end as top gainers on 30-stock index

3:38 PM

Closing Bell :: Nifty holds 22,750

3:37 PM

Closing Bell :: Sensex ends 354 pts higher ahead of US CPI data

3:29 PM

Vodafone Idea stock may more-than-half amid subscriber churn: CLSA

"Beyond the planned capital expenditure and 5G rollout, Vi faces a financial crunch in FY26CL. Annual spectrum and AGR payments of $4 billion per annum will fall due, unless the government converts debt principal to equity at the end of the moratorium," CLSA said in its latest report. READ MORE

3:14 PM

Tata Motors-owned JLR India sales rise 81% at 4,436 units in FY24

Retail sales of SUVs, Range Rover, and Defender continued to grow with year-on-year increases of 160% and 120% respectively. READ MORE

3:02 PM

Vodafone Idea to launch FPO next week, seeks to raise Rs 18,000-20,000 cr

Vodafone Idea (Vi) is preparing to launch a follow-on public offer (FPO) to raise Rs 18,000-20,000 crore by the middle of next week, reported Moneycontrol, citing sources. READ MORE

2:52 PM

Q4 Preview: TCS to lead IT pack; may see upper single digit rise in profit

Large-cap IT major TCS is expected to register a single-digit growth in revenue and profit for the January-March quarter (Q4FY24) as compared to the same quarter in the year ago period due to large deal ramp ups and operational efficiencies, said analysts.  READ MORE

2:41 PM

Beware of deepfake of CEO recommending stocks, says National Stock Exchange

India's National Stock Exchange (NSE) on Wednesday cautioned investors against deepfake videos of its chief executive giving stock recommendations. READ MORE

2:30 PM

RInfra tanks 20% as SC asks co to refund Rs 8,000 cr to Delhi Airport Metro

Shares of Reliance Infrastructure (R-Infra) tanked 20 per cent to Rs 227.40, freezing at the lower circuit on the BSE on Wednesday at 01:28 PM, amid heavy volumes after the Supreme Court (SC) set aside the Rs 8,000-crore arbitral award in favour of the company's metro arm, Delhi Airport Metro Express Private Limited (DAMEPL). READ MORE

2:19 PM

Summer cheer for beer firm United Breweries as margins remain stable

United Breweries, India’s largest beer manufacturer, is expected to gain business as summer brings heat waves. The company will be a major beneficiary April to July, the period that contributes 40-45 per cent of its annual beer volumes. The T20 Cricket World Cup in June and the ongoing Indian Premier League will help volumes and should offset the negative impact of elections on sales. READ MORE