Nifty ends April F&O series above 17900; Bajaj twins, Bharti Airtel support

CLOSING BELL: The S&P BSE Sensex, meanwhile, rallied 349 points to settle at 60,649

SI Reporter New Delhi

Stock market highlights: Benchmark indices climbed steadily through the day, closing near the day's highs on Thursday. The Nifty50 index jumped 101 points to end the April F&O series at 17,915. The S&P BSE Sensex, meanwhile, rallied 349 points to settle at 60,649.

Bajaj Finance (up over 2 per cent) was the top large-cap winner, followed by Bajaj Finserv, Kotak Bank, Bharti Airtel, Infosys, L&T, M&M, ITC, Tata Steel, Reliance Industries, and Sun Pharma. On the downside, HUL (down 1.4 per cent), Power Grid, Axis Bank, SBI, TCS, and Asian Paints were the laggards.

Meanwhile, in the broader markets, the BSE MidCap and SmallCap indices advanced in-line with frontline indices, rising 0.5 per cent to 0.6 per cent.

Sectorally, the Nifty Realty index gained 1.5 per cent, the Nifty IT index 1 per cent, and the Nifty Auto index 0.8 per cent.

IPO update :: Mankind Pharma
The initial public offer by Mankind Pharma, to raise Rs 4,326 crore, was subscribed 14.15 times till 3:30 PM on the final day of the offer. At 45.37 times, QIB quota remained the most subscribed portion, followed by NII quota at 3.68 times, and retail quota at 80 per cent. The offer closes at 5:00 PM today.

4:14 PM

COMMENT:: Markets shifting towards a positive terrain aided by FIIs flow, Q4 earnings

The domestic market is gradually shifting towards a positive terrain, supported by FIIs inflows and positive Q4 earnings from banks. On the global front, the US Q1 GDP number which will be unveiled today is anticipated to moderate on a QoQ basis amid concerns over banking contagion and a slowing economy. The next week's FED policy will be keenly monitored. The FED may further hike by 25bps, but the expectation is that this will represent the peak and a long pause.

- Vinod Nair, Head of Research at Geojit Financial Services

4:13 PM

Nifty could rally towards 18,000 - 18,100 in the near term

The headline index Nifty has moved up higher towards the closing. On the daily chart, the index has given an inverted head and shoulder pattern, suggesting a bullish reversal. Besides, the index has remained above the critical moving average. On the higher end, Nifty might move towards 18,000/18,100 over the near term. On the lower end, support is placed at 17,800.

- Rupak De, Senior Technical Analyst at LKP Securities

4:12 PM

Bank Nifty could move towards 43,300 - 43,500

The Bank Nifty continues to move higher during the day. On the daily chart, the index has remained above the consolidation breakout point. Besides, the index has remained above the critical moving average. On the higher end, Bank Nifty might move towards 43,300/43,500 over the near term. On the lower end, support is placed at 42750.

- Rupak De, Senior Technical Analyst at LKP Securities

4:08 PM

After a dismal FY23, is the tide turning for mid, small-cap segments?

The S&P BSE Small-cap and Midcap indices have surged around 6 per cent and 4 per cent, respectively, as against a 2 per cent gain on S&P BSE Sensex so far in FY24. READ MORE

4:07 PM

Should investors worry about the slowing AUM growth at Bajaj Finance?

Recent price correction in Bajaj Finance's stock, strong growth outlook, peaking of rates, and potential to enter credit cards market, make risk-reward favourable, analysts said. READ MORE

4:05 PM

City Union Bank jumps 5% on re-appointment of N Kamakodi as MD & CEO

Shares of City Union Bank (CUB) surged 10 per cent to Rs 146.50 on the BSE in Thursday's intra-day trade after the Reserve Bank of India (RBI) approved the reappointment of N. Kamakodi as the managing director and chief executive officer (MD and CEO) of the bank for three years with effect from May 1, 2023. READ MORE

4:02 PM

ITC extends rally, hits new high; surges 25% so far in calendar year 2023

Thus far in calendar year 2023, ITC surpassed Infosys, HDFC, SBI, Bharti Airtel, Adani Enterprises and Life Insurance Corporation of India (LIC) in market-cap ranking. READ MORE

4:00 PM

L&T Technology Services soars 8% on healthy Q4 results, strong outlook

For FY24 the company has guided CC revenue growth of 20 per cent plus with organic growth of 10 per cent plus. READ MORE

3:58 PM

Bajaj Auto gains 3%, hits new peak post Q4 nos on healthy growth prospects

The management said that retails in export market were steadily improving, and inventory levels were low as customers are now accepting increased prices. READ MORE

3:55 PM

KPIT Technologies rallies 11% in two days, hits new high on strong Q4 results

For FY24 the company has guided CC revenue growth of 27-30 per cent & EBITDA margin of 19-20 per cent. READ MORE

3:53 PM

Raymond soars 7%, hits new peak on Godrej Consumer Products deal buzz

According to a report, Godrej Consumer Products was in advanced talks for a deal with Raymond for its consumer care business that includes the Park Avenue male grooming brand and Kamasutra condom. READ MORE

3:50 PM