Sensex, Nifty snap 3-day losing streak, end marginally up; Infy, HUL slip
CLOSING BELL: The S&P BSE Sensex was up 65 points, while the Nifty 50 added six points. Tata Motors, NTPC, Asian Paints, SBI and Bharti Airtel were the prominent gainers.
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BSE
Stock Market Highlights: The key benchmark indices started Thursday’s trade on an upbeat note, but soon pared gains and thereafter exhibited lacklustre movement in the remainder of the day. In the broader markets, auto, consumer durables, hotel and footwear stocks logged smart gains.
Among the frontline indices, the S&P BSE Sensex touched a high of 59,837 in early deals, and thereafter slipped into red to a low of 59,490. The 30-share index eventually ended 65 points higher at 59,632. In the process, it snapped its three-day losing streak wherein the index had declined 863 points.
The NSE Nifty 50 index was seen testing the 17,600-level for a major part of the trading day. The Nifty finally settled at 17,624 – up six points.
NTPC and Tata Motors were the top gainers among the Sensex 30, up around 1.5 per cent. The latter witnessed buying interest after Jaguar Land Rover announced its plan to become an ‘electric-first’ luxury carmaker by 2030.
Asian Paints, Bharti Airtel, Larsen & Toubro, IndusInd Bank and SBI were the other notable gainers. FMCG major ITC topped the Rs 5-trn market cap for the first time today as the stock hit a new high at Rs 402.60.
On the other hand, Hindustan Unilever slipped over a per cent. Infosys, Sun Pharma and Nestle ended on a tepid note.
In the broader market, the BSE Midcap and Smallcap indices too ended on a flat note. Sectorally, consumer durables, footwear and hotel stocks logged smart gains in trade on Thursday.
Among individual stocks, Mastek zoomed over 11 per cent on the back of strong Q4 performance. Whereas, TTK Healthcare ended a per cent lower after the company’s board approved delisting of the equity shares at Rs 1,051 per share.
3:56 PM
Tech View :: '200-DMA is absorbing selling in Nifty'
The Nifty opened on a flat note, traded within a narrow range throughout the day, and closed marginally in the green ~6 points for the day. On the daily charts we can observe that since past four trading sessions Nifty has been consolidating in the broad range 17500 – 17800. On the daily charts, Nifty is trading around the 200 day moving average (17596) which is absorbing the selling pressure and also restricting a further drift. The daily momentum indicator has triggered a fresh negative crossover however we believe that it is on back of sideways price action since last four trading sessions. Until the Nifty breaks below the crucial support zone of 17550 – 17500 we shall assign less weightage to this sell signal. During this phase of consolidation, we can expect sector rotation and stock specific price action. The range of consolidation is likely to be 17500 – 17800 for the next few trading sessions.
Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
3:49 PM
Comment :: 'Q4 has a negative bias due to lower than anticipated initial results'
The ongoing Q4 earnings season is the focus area of the market. It has a negative bias due to lower than anticipated initial results announced, in especially the IT sector. The global market has been unsupportive due to expectation of another rate hike and mixed earnings released in the US. Given cautious global sentiment withdrawal by FIIs during the week has hampered the market trend.
Views by: Vinod Nair, Head of Research at Geojit Financial Services.
Views by: Vinod Nair, Head of Research at Geojit Financial Services.
3:47 PM
Currency check :: Rupee ends at 82.15/$ against Wednesday’s close of 82.23/$
3:45 PM
Buzzing stock :: Khadim India lead rally in footwear stocks
3:43 PM
Buzzing stock :: Hotel stocks clock sharp gains ahead of holiday season
3:40 PM
Buzzing stock :: Mastek surges over 11% post robust Q4 results
3:38 PM
Sectoral trends :: Pharma, realty stocks end weak; Pvt bank, auto stocks shine
3:36 PM
Sensex Heatmap :: NTPC, Asian Paints, TaMo end as top gainers
3:34 PM
CLOSING BELL :: Nifty ends flat with positive uptick
3:33 PM
CLOSING BELL :: Sensex snaps 3-day losing streak, ends over 50 pts up
3:20 PM
Global Check:: US, UK stock futures decline up to 1%
Source: Investing.com
3:08 PM
Footwear stocks rally; Khadim, Liberty Shoes, Superhouse zoom up to 20%
Bata India, Metro Brands, Sreeleathers, Relaxo Footwears and Campus Activewear were up in the range of 2 per cent to 7 per cent. READ MORE
2:53 PM
Hinduja Housing Finance to raise Rs 800 cr via capital bond, debentures
Hinduja Housing Finance Ltd (HHFL), a mortgage lender with an asset book of about Rs 6,800 crore, will raise about Rs 300 crore in subordinate capital and Rs 500 crore in debt through median offering. READ MORE
2:44 PM
Jaguar Land Rover revs up for electric race; can it meet its 2030 target?
Jaguar Land Rover (JLR) lags its peers in the electric vehicle (EV) race, but is now determined to catch up. The company has embarked on an ambitious journey to become an ‘electric-first’ luxury carmaker by 2030. READ MORE
2:35 PM
ALERT :: Ion Exchange board approves stock split in the ratio of 1:10
Topics : MARKET WRAP MARKET LIVE Markets Q4 Results HCL Technologies HCL Technologies Results Tata Motors Jaguar Land Rover Tata Motors JLR Tata Motors ICICI Securities Mastek stock markets Indian stock market Indian stock markets Trading strategies Markets Sensex Nifty Nifty50 earning Nifty50 S&P BSE Sensex
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First Published: Apr 20 2023 | 7:46 AM IST
