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Stock market updates on Tuesday, April 09: Among sectors, the Nifty Media, and PSU Bank indices settled in the negative zone (down up to 1 per cent), while the Nifty Metal index added 1.1 per cent

Stock market, Indian market

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		<strong>Closing Bell on April 9, 2024:</strong> Equity markets erased all gains in the fag-end of the session as profit booking in large-caps deepened. The S&P BSE Sensex, which surpassed the 75,000-mark for the first time on Tuesday, hitting a record high of 75,124, ended 59 points lower at 74,684.&nbsp;</div>
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		The Nifty50, too, settled 24 points lower at 22,643, after hitting an all-time high of 22,768 earlier today.</div>
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		Coal India, Titan Company, Hero MotoCorp, Reliance Industries, Asian Paints, Tech M, Tata Consumer Products, IndusInd Bank, Wipro, Britannia Industries, Bajaj Auto, SBI, ITC, Tata Motos, and TCS were the top laggards as they fell in the range of 0.5 per cent to 2 per cent.&nbsp;</div>
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		In the broader markets, the BSE MidCap and SmallCap indices, too, ended in the red with up to 0.47 per cent decline.</div>
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		Among sectors, the Nifty Media, and PSU Bank indices settled in the negative zone (down up to 1 per cent), while the Nifty Metal index added 1.1 per cent.</div>
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Stock Market Highlights, April 9: Sensex drops 440 pts from record high, ends 59 pts down; Nifty below 22,650; RIL, TCS, Titan weigh

Business Standard

Stock Market Highlights, April 9: Sensex drops 440 pts from record high, ends 59 pts down; Nifty below 22,650; RIL, TCS, Titan weigh | News on Markets - Business Standard

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Good morning readers! Catch all the market live updates here

Broader markets :: MidCap index slips nearly half a per cent

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Sensex Heatmap :: Losers outnumber winners on index; Titan, RIL worst hit

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Closing Bell :: Sensex gives up gains amid profit booking

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Castrol India soars 9%; hits seven-year high on heavy volumes

In past five months, Castrol has zoomed 66 per cent. Meanwhile, the company has guided margins to be in the range of 23-26 per cent and volume growth of 5 per cent in CY24. <a href="https://www.business-standard.com/markets/news/castrol-india-soars-9-hits-seven-year-high-on-heavy-volumes-124040900465_1.html?1712654305" target="_blank"><strong>READ MORE</strong></a><br />
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Auto ancillary stocks attractive on dips as sector holds momentum: Analysts

Shares of auto component manufacturers have corrected up to 10 per cent month to date till April 8, after clocking a sharp rally in the previous fiscal of 2023-24 (FY24). The correction in the stocks, analysts said, is a good buying opportunity as the auto story remains strong from a long term lens due to rising disposable income and a possibility of an interest rate cut in the future adding to the comforts of buyers. <a href="https://www.business-standard.com/markets/news/auto-ancillary-stocks-attractive-on-dips-as-sector-holds-momentum-analysts-124040900357_1.html"><strong>Read more</strong></a><br />
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Metal shares rally up to 10%; Hindustan Copper, SAIL hit over 12-year highs

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	Shares of metal companies were in demand and rallied up to 10 per cent on the BSE in Tuesday&rsquo;s intra-day trade backed by heavy volumes on hopes of a healthy outlook.</div>
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	Hindustan Copper, Hindustan Zinc, MOIL and Steel Authority of India (SAIL) surged between 5 per cent and 10 per cent. Hindalco Industries, Vedanta, Tata Steel, Jindal Steel and Power (JSPL), NMDC and JSW Steel were up in the range of 1 per cent to 3 per cent. Most of these stocks were trading at their record or multi-year highs. <a href="https://www.business-standard.com/markets/news/metal-shares-rally-up-to-10-hindustan-copper-sail-hit-over-12-year-highs-124040900337_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="Mining &amp; metal firms" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-11/04/full/1667585118-7074.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Mining &amp; metal firms" /></div>
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Actively managed or index funds: Where should you park your money?

A significant portion of actively managed mutual funds failed to outperform their benchmark indexes in 2023, , according to SPIVA Year-End 2023 report.A whopping 74 per cent of actively managed mid and small-cap funds underperformed their benchmarks. This means that the majority of these funds failed to deliver returns that beat the average performance of the specific stocks they invest in (represented by the index). <a href="https://www.business-standard.com/finance/personal-finance/actively-managed-or-index-funds-where-should-you-park-your-money-124040900130_1.html" target="_blank"><strong>Read more</strong></a><br />
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	<img align="" alt="index funds" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-04/13/full/1555175279-6916.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="index funds" /></div>
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Hinduja Group firm gets Sebi nod for Reliance Wealth ownership change

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	Hinduja Group&#39;s Aasia Enterprises has got the market regulator&rsquo;s approval for a change of control in Reliance Wealth Management, under rules governing investment advisers and portfolio managers.</div>
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	The Securities and Exchange Board of India also approved an application for a proposed change in control at Reliance Securities under regulations governing research analysts and investment advisors. <a href="https://www.business-standard.com/markets/news/hinduja-group-firm-gets-sebi-nod-for-reliance-wealth-ownership-change-124040900255_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="Hinduja Group" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2017-07/06/full/1499345476-1609.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 449px;" title="Hinduja Group" /></div>
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Sensex hits 75K in pre-election rally; on track to hit 81,000, charts say

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	The S&amp;P BSE Sensex, on Tuesday, crossed the 75,000-mark for the first time ever, hitting a new all-time intraday high at 75,124. It took barely four months to rally from 70,000 levels to the 75,000 mark. The last 10,000 points have come in little over nine months.</div>
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	The main catalyst behind the current uptrend, analysts said, is the hope of stronger-than-expected corporate earnings for the March 2024 quarter (Q4-FY24) and a pre-election rally, which is fueling the momentum over the past one week. <a href="https://www.business-standard.com/markets/news/sensex-hits-75k-in-pre-election-rally-on-track-to-hit-81-000-charts-say-124040900273_1.html" target="_blank"><strong>Read more</strong></a><br />
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Nifty SmallCap up 16% in 1 month; Key levels to watch on overbought stocks

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	As bulls continue to roar on the Dalal Street, apart from the benchmark indices scaling new summits, the broader indices too have registered new life-time highs in recent days.</div>
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	The NSE Nifty SmallCap index has hit a new peak of 15,374 in trades on Monday surpassing its earlier high of 15,489 hit on February 07. In the interim period, the index had tumbled to a low of 13,284 on March 14 - down over 14 per cent from its then peak - amid Sebi&#39;s clampdown on the smallcap segment. <a href="https://www.business-standard.com/markets/news/nifty-smallcap-up-16-in-1-month-key-levels-to-watch-on-overbought-stocks-124040900292_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="Nifty 50" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-09/08/full/1694193334-8378.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Nifty 50" /></div>
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This Madhuri Kela-owned stock has surged 59% in 12 days; up 729% in 1 year

In February 2024, TRIL was awarded orders worth Rs 232 crore from Power Grid Corporation of India to be completed in 21 months. The scope of order included designing, engineering, manufacture, testing at Manufacturers works and supply of 5 Nos of 500 MVA, 400/220/33kV, 3- Phase ICT, 5 Nos of 500 MVA 400/220/33kV, 3-Phase Auto Transformers along with all fitting, accessories for complete execution and Local Transportation, In Transit Insurance, Loading and uploading &amp; Installation Services. <a href="https://www.business-standard.com/markets/news/this-madhuri-kela-owned-stock-has-surged-59-in-12-days-up-729-in-1-year-124040900253_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Gland Pharma slips 7% after over 5% equity changes hands via block deal

As on December 31, 2023, RP Advisory Services Private Limited held 6.17 million shares (3.74 per cent stake) and Nicomac Machinery Private Limited held 1.96 million shares (1.19 per cent stake) in Gland Pharma, shareholding pattern data shows. <a href="https://www.business-standard.com/markets/news/gland-pharma-slips-7-after-over-5-equity-changes-hands-via-block-deal-124040900178_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Godrej Properties surges 8%, hits new high on strong Q4 business update

This is the highest-ever quarterly sales announced to date by any publicly listed real estate developer in India, the company said in an exchange filing. This was achieved through the sale of 5,331 homes with a total area of over 8 million sq. ft, it added. <a href="https://www.business-standard.com/markets/news/godrej-properties-surges-8-hits-new-high-on-strong-q4-business-update-124040900156_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Broader markets :: MidCaps flat, SmallCap index up 0.3%

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Sectoral trends :: Realty index gains 2%, al other indices eke out tepid gains

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Sensex Heatmap :: TaMo, Infy nudge up, Axis Bank, HCL Tech weak

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Opening Bell :: Nifty surpasses 22,700, touches record high of 22,763

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Opening Bell :: Sensex gains 200 pts, tops 75,000-mark for first time

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Pre-Open Session :: Sensex gains 381 points

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India's consumption story gets a facelift as rural demand shows promise

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	Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide.</div>
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	The Reserve Bank of India&rsquo;s (RBI&rsquo;s) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25. 
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		<img align="" alt="grocery shopping" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-01/07/full/1641497894-9885.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="grocery shopping" /></div>
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Credit growth, quality assets likely to spur bank profits in Q4 FY24

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	With high credit growth and healthy asset quality, listed commercial banks are expected to report steady growth in earnings during the fourth quarter ended March 2024 (Q4 FY24).</div>
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	Profits are expected to grow at 9.6 per cent year-on-year (Y-o-Y) and net interest income (NII) by 8.7 per cent in Q4 FY24, according to Bloomberg analysts&rsquo; estimates. <a href="https://www.business-standard.com/industry/banking/earrings-preview-bank-profit-estimated-to-grow-at-9-6-in-q4fy24-124040800964_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="banks profits credit growth" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-04/08/full/1712595379-8921.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="banks profits credit growth" /></div>
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Hyundai, Kia tie up with Exide for electric vehicle battery localisation

South Korean automotive majors Hyundai Motor Company and Kia Corporation on Monday announced a partnership with Exide Energy Solutions (EESL), a subsidiary of Kolkata-based battery manufacturer Exide Industries, to localise electric vehicle (EV) battery production in India. <a href="https://www.business-standard.com/companies/news/hyundai-kia-join-hands-with-exide-for-li-ion-cells-for-evs-in-india-124040800987_1.html" target="_blank"><strong>Read more</strong></a><br />
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	<img align="" alt="Automotive slump &amp; industrial policy" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-07/31/full/1564596438-5726.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Automotive slump &amp; industrial policy" /></div>
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Q4 results preview: Nifty cos' profit growth seen at slowest in 5 qtrs

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	The brokerage earnings estimate for the January-March 2024 quarter (Q4FY24) for Nifty 50 companies hints at a slowdown in corporate profit growth while revenue increase is likely to be in low single digits as in the previous two quarters.</div>
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	According to various brokerage estimates, the companies&rsquo; combined net profits are expected to grow 3.1 per cent year-on-year (Y-o-Y) in Q4FY24, the slowest in the last five quarters. For comparison, the index companies&rsquo; combined net profits were up 8.2 per cent Y-o-Y in Q3FY24 and 3.4 per cent Y-o-Y in Q4FY23. <a href="https://www.business-standard.com/markets/news/nifty50-earnings-in-q4-seen-growing-at-slowest-pace-in-five-quarters-124040801087_1.html" target="_blank"><strong>Read more</strong></a><br />
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India's hottest stock index, Nifty Next 50, shows best earnings potential

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	The NSE Nifty Next 50 Index is emerging as the hottest stock gauge in India, as investors look for pockets of outperformance in a market that&rsquo;s been hovering near record highs.</div>
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	Earnings growth is proving to be a key metric. Made up of potential candidates for the benchmark Nifty 50, the gauge has seen its forward profit estimates climb 20 per cent so far this year, far outpacing the 3.5 per cent increase for the larger gauge. The Nifty Next&rsquo;s biggest components feature industrial and materials firms directly benefiting from an economy expected to grow more than 7 per cent in 2024. <a href="https://www.business-standard.com/markets/news/india-s-hottest-stock-nifty-next-50-index-shows-best-earnings-potential-124040900047_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="NSE, National Stock exchange" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-01/02/full/1704182444-4529.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="NSE, National Stock exchange" /></div>
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Nifty Fin Services signals underperformance on charts: Here's how to trade

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	<strong>Nifty Financial Services</strong></div>
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	The Nifty Financial Services Index, currently positioned at 21,604.50, has recently undergone a sharp rally, bringing it into close proximity to its resistance level of 21,700. In light of this development, traders are advised to exercise caution and consider initiating selling positions on any further upward movement in the index. <a href="https://www.business-standard.com/markets/news/nifty-fin-services-signals-underperformance-on-charts-here-s-how-to-trade-124040900039_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="Nifty Realty index" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2018-12/14/full/1544767829-8792.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Nifty Realty index" /></div>
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Stocks to Watch today: TaMo, Axis Bank, RIL, Muthoot Microfin, auto shares

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	In Asia this morning, Taiwan surged 1.4 per cent. Kospi and Nikkei advanced around 0.5 per cent each.</div>
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	Meanwhile, here are the stocks that are likely to be in focus on Tuesday.</div>
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	<strong>Axis Bank:</strong> Private equity firm Bain Capital to sell remaining holding in Axis Bank via block deal today, in the price range of Rs 1,071 - Rs 1,076 per share.</div>
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	<strong>Tata Motors: </strong>The auto major&rsquo;s Jaguar Land Rover (JLR) sales rose 11 per cent YoY in Q4 to 114,038 units, driven by increased production and sustained global demand. For the full year FY24, sales grew by 22 per cent to 431,733 units. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-today-april-09-2024-tamo-axis-bank-ril-muthoot-microfin-auto-shares-124040900049_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="Stocks, shares, stock maket" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-04/04/full/1680624965-149.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 450px;" title="Stocks, shares, stock maket" /></div>
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Gold up Rs 10, silver jumps Rs 100; yellow metal trading at Rs 71,630

<div>
	The price of 24-carat gold saw a slight upctick of Rs 10 in early trade on Tuesday, with ten grams of the precious metal trading at Rs 71,630, according to the GoodReturns website. The price of silver rose Rs 100, with one kilogram of the precious metal selling at Rs 84,600.</div>
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	The price of 22-carat gold rose Rs 10 with the yellow metal selling at Rs 65,660. <a href="https://www.business-standard.com/markets/commodities/gold-up-rs-10-silver-jumps-rs-100-yellow-metal-trading-at-rs-71-630-124040900052_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="Gold, Gold bars, gold price" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-01/15/full/1705286901-6955.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Gold, Gold bars, gold price" /></div>
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Gift Nifty futures suggest a positive start

At 07:45 AM, the Gift Nifty futures were quoting 84 points higher than Nifty 50 futures suggesting a positive start at the Indian bourses.

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Stock Market Highlights, April 9: Sensex drops 440 pts from record high, ends 59 pts down; Nifty below 22,650; RIL, TCS, Titan weigh

Stock market updates on Tuesday, April 09: Among sectors, the Nifty Media, and PSU Bank indices settled in the negative zone (down up to 1 per cent), while the Nifty Metal index added 1.1 per cent

US indices end range bound

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