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

3:48 PM

Comment :: 'Markets saw profit-booking in anticipation of tomorrow's key US inflation data'

The Indian market reached a fresh intraday peak before seeing profit-booking at higher levels in anticipation of tomorrow's key US inflation data, which carries weight in determining future rate cuts by the US Fed.

Concerns have emerged amidst recent better-than-anticipated US employment and manufacturing data, suggesting a potential shift in expectations regarding rate cuts this year.

Moreover, escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crude prices upward, impacting overall market sentiment. In the near term, the focus will shift to Q4 earnings, which will kick off this weekend.

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

3:45 PM

Tech View :: Key levels to watch on Nifty, Bank Nifty

Nifty50
Nifty opened higher but struggled to withstand the selling pressure at elevated levels. On the hourly chart, the RSI (14) indicates bearish divergence, signaling a potential shift in price momentum towards the downside. Immediate support is observed at 22,600; a decisive drop below this level could drive the index towards 22,400. Conversely, resistance is evident at 22,770 on the higher end."

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


Bank Nifty
The Bank Nifty demonstrated resilience at higher levels by surpassing the 49,000 mark intraday. It finds support at 48,000, coinciding with significant open interest in put options. Sustained closure above 49,000 could propel the index towards 50,000. With a bullish undertone prevailing, downturns are seen as buying opportunities for the index.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:40 PM

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

3:39 PM

Sectoral trends :: Most indices end mixed on either side of flatline

3:37 PM

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

3:35 PM

Closing Bell :: Nifty ends below 22,650

3:34 PM

Closing Bell :: Sensex gives up gains amid profit booking

3:28 PM

BSE PSU Index up 92% in past year: Decoding India's divestment opportunity

"This robust equity market has spurred a wave of activity in the capital markets, with 57 initial public offerings (IPOs) raising a total of Rs 53,000 cr in 2023 alone. The momentum has continued into 2024, with 13 more IPOs already hitting the market. In total, 2024 could see 60+ companies hitting the market and are likely to raise upwards of Rs 70,000 crore," said Ashish Gupta, CIO at Axis Asset Mamangement. READ MORE

3:18 PM

Market Check :: Sensex at day's low

3:03 PM

Global check:: US, UK stock futures exhibit mixed trend

2:52 PM

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. READ MORE

2:41 PM

India likely to see normal monsoon in 2024, says Skymet, promising respite

India is expected to see a normal monsoon in 2024, private weather forecasting agency Skymet said on Tuesday, promising some respite after a prediction of more-than-normal heat wave days in the summer preceding the June-September rainy season. READ MORE

The worry now is whether or not the levels can be sustained if the rains go for a break

2:28 PM

Maruti Suzuki expands Manesar plant's capacity by 100K units per annum

Maruti Suzuki India on Tuesday said it has expanded the production capacity of its Manesar facility by one lakh units per annum. The auto major has added a vehicle assembly line to the existing Plant-A of the three manufacturing plants functioning at Manesar, in Haryana. READ MORE

2:16 PM

'Main goal complete with foundational elements', says outgoing Wipro CEO

Thierry Delaporte, the outgoing chief executive officer of Wipro, in a four-page farewell mail to employees, has said his goal is complete with the information technology company’s foundational elements of transformation in place. READ MORE

2:06 PM

How an election-packed 2024 is shaping up for world markets, trade

In an election-packed year, markets have so far shrugged off results, with the focus squarely on the one contest that could reverberate across everything from international trade to emerging market debt: the United States presidential race in November. READ MORE