Sensex, Nifty end flat after listless day; ITC, TCS up 2%; realty stks dip

CLOSING BELL: The broader indices ended marginally in red, with Midcap index declining 0.4 per cent, and the Smallcap index down 0.3 per cent.

9:00 AM

Market Strategy :: How to trade Nifty, Nifty Bank today?

Nifty: Since the past 3-4 sessions, the zone near 17,550-17,580, which is where the significant 200-DMA lies, has been maintained as a strong support zone with

recovery witnessed and closing above the 17,600 levels. The support for the day is seen at 17,500 levels while the resistance is seen at 17,750 levels.
 

Nifty Bank: With results to be released in the coming week of two major frontline banking stocks -- ICICI bank and Axis Bank -- volatility is anticipated and would decide the further directional move of the index. BankNifty would have the daily range of 41,800-42,700 levels.

Source: Prabhudas Lilladher

8:56 AM

Apollo pitches investors on deal to ease industrywide fundraising slump

The firm pitched it as a way to ease clients’ liquidity pressures, according to people familiar with the matter. Apollo, meanwhile, had sought to line up potential buyers for those stakes who would also inject capital into the latest fund, Apollo’s 10th. READ MORE

8:52 AM

India's economic activity signals resilience even as exports dim outlook

While the needle on a dial measuring the so-called Animal Spirits was unchanged at 5 for a third straight month, a jump in collections from taxes levied on consumption showed Asia’s third largest economy was ticking along. That’s the reading from the overall activity tracker comprising of eight high-frequency indicators compiled by Bloomberg. READ MORE

8:46 AM

Cumulative impact of monetary policy actions still unfolding: RBI guv Das

The central bank, which effected six back-to-back hikes in the key short-term lending rate (repo) since May 2022 to check high inflation, decided to take a pause early this month. The cumulative rate hike since May 2022 is 250 basis points. READ MORE

8:42 AM

HCLTech Q4 results: Profit jumps 11% to Rs 3,983 crore; revenue up 18%

The company has also announced an interim dividend of Rs 18 per share. Ahead of the results, the company's shares closed at Rs 1,037 apiece on NSE. READ MORE

8:39 AM

ALERT :: Angel One clarifies on 'unauthorised access of clients’ data'

>> The Company has received emails on April 20, 2023 claiming unauthorised access of clients’ data. We are in the process of verifying the veracity of such claims.

>> While we are taking relevant action against such unauthorized access, we have verified that such breach does not have any impact on client securities, funds and credentials; and all client accounts are secure. 

>> We are working on measures to identify the source of the breach. Meanwhile, our current infrastructure has been validated to prevent any further unauthorised access. 

8:35 AM

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.
 

Its peers Volvo and Audi are eyeing 100 per cent battery electric vehicles (BEV) by 2030 and 2033, respectively, while BMW and Mercedes are eyeing 50 per cent BEV by 2030. READ MORE

8:32 AM

Is it time to buy consumer appliance stocks as heat wave intensifies?

8:28 AM

Mutual fund investors show bias towards riskier small-cap-oriented schemes

Investors funnelled Rs 2,430 crore down small-cap funds — 1.8 per cent of their AUM of Rs 1.33 trillion. Meanwhile, inflows into mid-cap schemes were 1.2 per cent of their AUM, while those into large-cap schemes were just 0.4 per cent of AUM. READ MORE

8:25 AM

Sugar stocks in focus :: Sugar prices spike to 11-year high

>> Prices for sugar spiked as rising demand was compounded by a deteriorating weather outlook. Analysts at S&P Global say prices should trend towards staying elevated in the 21 to 24 cents per pound range

>> Raw sugar futures in recent days rose to 24 cents a pound and reaching an 11-year high

>> India is the world’s second largest sugar producer after Brazil.

>> In early April, the All India Sugar Trade Association trimmed its sugar production estimates by nearly 3% for the crop year spanning October 2022 to September 2023. The association cited unseasonal rainfall in Maharashtra, which accounts for more than one third of the country’s sugar output.

Source: CNBC

8:22 AM

Result Today :: O2C segment may drive RIL's Q4FY23 revenue

Prabhudas Lilladher said that the company is well-placed to benefit from strength in refining margins, due to geopolitical disruptions, and higher gas profitability. Volumes, therefore, are estimated to rise to 30 mmscmd (million metric standard cubic meters per day) in Q4FY23 from ~19 mmscmd, in a year-ago period READ MORE

8:19 AM

Minutes of April MPC meeting: Members split on economic growth prospects

External member Ashima Goyal highlighted her concern on growth. “Although growth is resilient, there are signs of slowdown in some high-frequency data. Softening non-oil non-gold imports point to weakness in domestic demand; slowing exports are affecting manufacturing; rising loan rates are reducing demand for low income housing,” she said. Goyal also said the real policy rate was greater than one, and that a further rise in real interest rates was best avoided since high real rates could trigger a non-linear switch to a low growth path. READ MORE

8:15 AM

Stocks to Watch: HCLTech, Cyient, Siemens, RIL, Suven Pharma, Voda Idea

Cyient: Cyient Ltd posted a net profit of Rs 163 crore in Q4FY23, up 5.5 per cent YoY. The net profit was up 4.5 per cent sequentially. The revenue from operations in Q4 climbed 30 per cent YoY to Rs 1,751.4 crore.
 

Vodafone Idea: After a hiatus of nearly 2 years from the company, Aditya Birla Group (ABG) chairman Kumar Mangalam Birla has been inducted back as a non-independent and non-executive additional director, subject to shareholder approval. READ MORE

8:11 AM

Market Strategy :: Nifty Midcap 50 Index likely to exhibit range-bound trade

With a current market price (CMP) of 8,762.90, the Nifty MID-CAP 50 Index is anticipated to trade within a specific price range for a period after a sharp rally on the charts, suggesting a range-bound manner.

 

Trading above or below the expected range of 8,800 - 8,736 could potentially trigger a movement in the direction of the breakout, which refers to a sudden increase or decrease in the market price signaling a potential trend change. READ MORE

8:08 AM

Fund Flow :: DIIs bought equities worth Rs 832.72 crore on Thursday