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Stock Market Highlights: Nifty climbs 119 points to form a green candle on the daily chart. How to trade on Thursday
27 Mar, 2024 | 07:45:53 PM IST
Nifty on Wednesday ended 119 points higher to form a green candle on the daily chart. The index surpassed the hurdle of short-term moving average i.e. 20-DEMA but needs sustainability above 22,200 to extend the rebound.
Daily and hourly momentum indicators are providing divergent signals which can lead to a consolidation and hence in case of a dip towards 22100 – 22060 it should be used as a buying opportunity for a target of 22215 - 22250, said Jatin Gedia of Sharekhan.
Daily and hourly momentum indicators are providing divergent signals which can lead to a consolidation and hence in case of a dip towards 22100 – 22060 it should be used as a buying opportunity for a target of 22215 - 22250, said Jatin Gedia of Sharekhan.
1 New Update
US stocks open higher as growth counters recover
Wall Street's main indexes gained at the open on Wednesday as chipmakers and growth stocks rebounded in light trading ahead of crucial economic data, commentary from the Federal Reserve's policymakers and a long holiday weekend.
The Dow Jones Industrial Average rose 179.65 points, or 0.46%, at the open to 39,461.98.
The S&P 500 opened higher by 22.73 points, or 0.44%, at 5,226.31, while the Nasdaq Composite gained 109.06 points, or 0.67%, to 16,424.76 at the opening bell.
The Dow Jones Industrial Average rose 179.65 points, or 0.46%, at the open to 39,461.98.
The S&P 500 opened higher by 22.73 points, or 0.44%, at 5,226.31, while the Nasdaq Composite gained 109.06 points, or 0.67%, to 16,424.76 at the opening bell.
Bank of England steps up scrutiny of private equity and bank valuations
The Bank of England said on Wednesday it was taking a deeper look at risks from the opaque private equity sector, and why valuations of Britain's main banks are "subdued" compared with international peers.
The BoE's Financial Policy Committee said finance for riskier corporates could be particularly vulnerable to a deterioration in investor risk sentiment as the possibility of a sharp correction in a broad range of asset prices has increased.
The BoE's Financial Policy Committee said finance for riskier corporates could be particularly vulnerable to a deterioration in investor risk sentiment as the possibility of a sharp correction in a broad range of asset prices has increased.
Global IPO revival lags first quarter share sales as markets rally
Dealmaking in global equity capital markets had its strongest start in three years in 2024 as economic uncertainty waned and stocks rallied, but a revival in initial public offerings has lagged.
FPIs turn net buyers for second straight day
Foreign portfolio investors emerged as net buyers for the second consecutive day at Rs 2,170 crore. DIIs, too, bought shares worth Rs 1,198 crore on Wednesday.
Tech View: Nifty crosses 20-DEMA hurdle. What should traders do on Thursday
Nifty today ended 119 points to form a green candle on the daily charts. The index surpassed the hurdle of short-term moving average i.e. 20-DEMA but needs sustainability above 22,200 to extend the rebound.
Daily and hourly momentum indicators are providing divergent signals which can lead to a consolidation and hence in case of a dip towards 22100 – 22060 it should be used as a buying opportunity for a target of 22215 - 22250, said Jatin Gedia of Sharekhan.
Daily and hourly momentum indicators are providing divergent signals which can lead to a consolidation and hence in case of a dip towards 22100 – 22060 it should be used as a buying opportunity for a target of 22215 - 22250, said Jatin Gedia of Sharekhan.
Nifty Bank faces resistance around 47K for 4th consecutive session; what should traders do?
The Nifty Bank bounced back on Wednesday but faced resistance around 47000 levels for the fourth consecutive session in a row. A break above 47000-47200 will open up room for the index to head towards the 48000 mark.
The Nifty Bank rose 185 points to close at 46,785 while the Nifty50 rallied 118 points to close at 22,123.
The Nifty Bank rose 185 points to close at 46,785 while the Nifty50 rallied 118 points to close at 22,123.
Rupee falls 7 paise to close at 83.36 against US dollar
The rupee declined by 7 paise to close at 83.36 (provisional) against the US dollar on Wednesday, tracking a strong American currency against major rivals overseas and weak Asian peers. However, a surge in domestic markets and a decline in crude oil prices cushioned the downside, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.33 and touched an intraday low of 83.45 against the greenback. The local unit finally settled at 83.36 (provisional) against the dollar, registering a loss of 7 paise from its previous close.
At the interbank foreign exchange market, the local unit opened at 83.33 and touched an intraday low of 83.45 against the greenback. The local unit finally settled at 83.36 (provisional) against the dollar, registering a loss of 7 paise from its previous close.
Cenbank likely sold US dollars after rupee slips to fresh record low: Report
The Indian central bank likely sold U.S. dollars to cap further deprecation in the rupee after the currency hit a fresh record low on Wednesday due to strong dollar demand from local importers and oil companies, four traders told Reuters.
The rupee fell to a record low of 83.45 in the closing minutes of the session. It was at 83.37 against the dollar as of 03:28 p.m. IST, down by 0.1% compared with its close of 83.28 on Tuesday.
The rupee fell to a record low of 83.45 in the closing minutes of the session. It was at 83.37 against the dollar as of 03:28 p.m. IST, down by 0.1% compared with its close of 83.28 on Tuesday.
Escorts Kubota says rectification order reduces demand by 2 Million Rupees
Top gainers & losers in closing trade
Price as on 03:36:48 PM 03:36 PM, Click on company names for their live prices.
Closing Bell: RIL, HDFC Bank drive Sensex 526 pts higher; Nifty tops 22,100; Pfizer soars 16%, IIFL Fin 10%
P N Gadgil Jewellers files draft papers with Sebi to garner Rs 1,100 cr via IPO
Jewellery retail chain P N Gadgil Jewellers Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,100 crore through an initial public offering (IPO) to fund its expansion and pare debt. The Maharashtra-based company's proposed IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by a promoter SVG Business Trust, according to the draft red herring prospectus (DRHP).
At present, SVG Business Trust holds 99.9 per cent stake in P N Gadgil Jewellers.
At present, SVG Business Trust holds 99.9 per cent stake in P N Gadgil Jewellers.
Shares edge higher; yen's drop to 1990 low lifts Nikkei
Global shares rose on Wednesday, nudged higher by a rally in Japanese stocks as the yen sagged to its weakest since 1990, while the dollar held mostly steady in a holiday-shortened week that ends with a key reading on U.S. inflation.
The yen, which has lost more than 7% in value against the dollar this year already, weakened to as far as 151.975 to the dollar, triggering an immediate warning from Japan's finance minister of "decisive action," a phrase he last used in late 2022, right before monetary authorities intervened to buy the currency.
The yen, which has lost more than 7% in value against the dollar this year already, weakened to as far as 151.975 to the dollar, triggering an immediate warning from Japan's finance minister of "decisive action," a phrase he last used in late 2022, right before monetary authorities intervened to buy the currency.
Sensex Today | Stock Market Live Updates | Indiamart Intermesh says shareholding of unit Tradezeal in Procmart will be diluted from 19.5% to 13%
Price as on 02:47:45 PM 02:47 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: Top gainers & losers from retail pack
Price as on 02:27:55 PM 02:27 PM, Click on company names for their live prices.
Stock Market View: Vamsi Krishna, CEO, StoxBox on T+0 settlement cycle innovative leap by Sebi
Introducing the T+0 settlement cycle in the Indian capital markets is an innovative leap by the market regulator SEBI. This new move, starting with a beta version for a select 25 scrips, signifies a monumental shift from the traditional T+2 settlement cycle, promising same-day trade settlement. The transition towards T+0 not only enhances the efficiency and flexibility of market operations but also stands to substantially mitigate transactional risks, offering an immediate and tangible value to both traders and investors alike. Launching on March 28, 2024, for a limited trading window, this initiative marks a critical step in aligning India's trading infrastructure with global standards, paving the way for a stronger, risk-averse, and dynamic market ecosystem. As we look forward to the phased implementation across all scrips, leveraging these advancements, ensuring our clients benefit from the increased operational efficiency and the opportunity for quicker liquidity.
Sensex Today | Stock Market Live Updates | lpca Laboratories enters into a Technology TransferAgreement with Omexa Formulary Pvt. Ltd. for a biosimilar clone, process developmentand knowledge transfer for the global market.
Price as on 02:06:42 PM 02:06 PM, Click on company names for their live prices.
Stock Market Live Updates: European stock markets open mixed
Europe's main stock markets diverged at the start of trading on Wednesday, mirroring a mixed session in Asia.
London's FTSE 100 index dropped 0.1 percent to 7,922.01 points.
In the eurozone, the Paris CAC 40 index was almost unchanged at 8,186.05 points and Frankfurt's DAX gained 0.2 percent to stand at 18,417.10.
London's FTSE 100 index dropped 0.1 percent to 7,922.01 points.
In the eurozone, the Paris CAC 40 index was almost unchanged at 8,186.05 points and Frankfurt's DAX gained 0.2 percent to stand at 18,417.10.
H&M's net profit doubles in first quarter
H&M said Wednesday its net profit more than doubled in the first quarter as the world's second-biggest fashion retailer worked to control costs.The Swedish company reported a profit-after-tax of 1.2 billion kronor ($113.3 million) in the December-to-February period.
Sensex Today | Stock Market Live Updates: Century Plyboards (India) says MDF unit of co's unit in Andhra Pradesh has started its commercial production
Price as on 01:56:18 PM 01:56 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Annapurna Swadisht to enter edible oil market by acquiring Arati brand mustard oil; ASL plans to invest Rs 28 crore for acquisition of RRPAL
Price as on 01:49:03 PM 01:49 PM, Click on company names for their live prices.
State Bank of India, Bajaj Auto among 25 stocks eligible for same-day settlement, says BSE
India's Bajaj Auto, Bharat Petroleum and State Bank of India are among 25 stocks eligible for optional same-day settlement starting from March 28, the Bombay Stock Exchange (BSE) said on Wednesday.
Indian markets operate on a T+1 settlement cycle for all stocks currently, which means that the purchase and sale of shares will reflect in the demat accounts of investors one day after the transaction.
Indian markets operate on a T+1 settlement cycle for all stocks currently, which means that the purchase and sale of shares will reflect in the demat accounts of investors one day after the transaction.
Sensex Today | Stock Market Live Updates | Brahmaputra Infrastructure gets LoA worth Rs 59.84 crore
Price as on 01:13:03 PM 01:13 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Jubilant Foodworks received an order levying demand of Rs 17.12 crore
Price as on 01:00:08 PM 01:00 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Shakti Pumps (India) raised Rs 200 crore through QIP
Price as on 12:57:01 PM 12:57 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | Pakka revised cost of Jagriti Project at Rs 675 crore vs previously approved cost of Rs 550 crore
Price as on 12:56:17 PM 12:56 PM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates | BLOCK DEAL: Zee Ent's 1.8% equity change hands
Price as on 12:31:09 PM 12:31 PM, Click on company names for their live prices.
Tokyo stocks end higher
Tokyo stocks ended higher on Wednesday with investors seeking to secure dividend rights as the current financial year draws to a close.
The benchmark Nikkei 225 index rose 0.90 percent, or 364.70 points, to end at 40,762.73, while the broader Topix index added 0.66 percent, or 18.48 points, to 2,799.28.
The benchmark Nikkei 225 index rose 0.90 percent, or 364.70 points, to end at 40,762.73, while the broader Topix index added 0.66 percent, or 18.48 points, to 2,799.28.
Sensex Today | Stock Market Live Updates: These realty stocks are the top gainers at this hour
Price as on 12:17:24 PM 12:17 PM, Click on company names for their live prices.
Stock Market Live Updates: Australian shares close higher as banks, health stocks gain
Australian shares closed higher on Wednesday on the back of healthcare and bank stocks, while investors assessed a key domestic inflation data that further strengthened the case of a sooner-than-expected interest rate cut in the country.
The S&P/ASX 200 index closed 0.5% higher at 7,819.60 points. The benchmark ended 0.4% lower on Tuesday.
Australian consumer price inflation held at a two-year low in February, contrary to expectations for a slight uptick, according to data from the Australian Bureau of Statistics.
The S&P/ASX 200 index closed 0.5% higher at 7,819.60 points. The benchmark ended 0.4% lower on Tuesday.
Australian consumer price inflation held at a two-year low in February, contrary to expectations for a slight uptick, according to data from the Australian Bureau of Statistics.
Sensex Today | Stock Market Live Updates: These pharma stocks rise over 2%
Price as on 11:49:22 AM 11:49 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: Indiabulls Housing Finance has raised $350 million through its first overseas bond issue in more than four years as it seeks to diversify funding after years of reducing liabilities to deal with the after-effects of the IL&FS collapse.
Price as on 11:28:31 AM 11:28 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: Larsen & Toubro says L&T Construction wins large orders for buildings & factories business
- Order worth between Rs 2500 crore to Rs 5000 crore
- Secured contract to construct hospital from Sultanate of Oman
Sensex Today | Stock Market Live Updates: Reliance Power says 2 units of co signed debt settlement, discharge agreement with unit of Authum Investment And Infrastructure
Price as on 11:01:47 AM 11:01 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: IndiGo aims to double in size by 2030; consolidate, expand on global scale: Airline CEO Pieter Elbers to PTI
Price as on 10:54:07 AM 10:54 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: Adani Green Energy's unit operationalizes 180 MW solar power project in Rajasthan
Price as on 10:45:49 AM 10:45 AM, Click on company names for their live prices.
Stock Market Live Updates: BOJ will keep close eye on currency moves, impact on economy, says Governor Ueda
Bank of Japan Governor Kazuo Ueda said on Wednesday the central bank will keep a close eye on currency moves, and their impact on economic and price developments.
"Currency moves are among factors that have a big impact on the economy and prices," Ueda told parliament, when asked about the yen's recent sharp declines.
"Currency moves are among factors that have a big impact on the economy and prices," Ueda told parliament, when asked about the yen's recent sharp declines.
Sensex Today | Stock Market Live Updates: Top private bank stocks gainers
Price as on 10:22:38 AM 10:22 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: Sensex surges 500 points
Sensex Today | Stock Market Live Updates: Block deal in Zee - 40.5 lakh shares change hands
Price as on 09:59:22 AM 09:59 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: Adani Power rose after the Competition Commission of India approved the proposed acquisition of 100% equity share capital of Lanco Amarkantak Power.
Price as on 09:56:02 AM 09:56 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: Engineering major Larsen & Toubro (L&T) on Tuesday said the company’s board has approved a proposal to raise funds worth Rs 7,500 crore.
Price as on 09:50:02 AM 09:50 AM, Click on company names for their live prices.
Market View | Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Market is likely to continue in the consolidation mode for a couple of days more and then take a new directional trend starting April. The undertone of the market continues to be bullish supported by strong economic fundamentals.
A significant structural trend in the market is the sustained flows into equity mutual funds which are gathering momentum. This will ensure resilience of the market with dips getting bought.
Midcaps have again become the segment of activity, particularly by retail investors. This is because there is no institutional selling pressure in midcaps unlike in largecaps where institutions including FIIs have large holdings.
Financials are likely to lead the rally along with capital goods and automobiles in early April. Credit growth in the economy is impressive at around 20% and this will help boost banks’ profitability. Q4 results of banks will be good.
A significant structural trend in the market is the sustained flows into equity mutual funds which are gathering momentum. This will ensure resilience of the market with dips getting bought.
Midcaps have again become the segment of activity, particularly by retail investors. This is because there is no institutional selling pressure in midcaps unlike in largecaps where institutions including FIIs have large holdings.
Financials are likely to lead the rally along with capital goods and automobiles in early April. Credit growth in the economy is impressive at around 20% and this will help boost banks’ profitability. Q4 results of banks will be good.
FOREX WATCH | Rupee falls 5 paise to 83.34 against US dollar in early trade
Sensex Today | Stock Market Live Updates: YES Bank, Voda Idea among most active stocks on NSE
Price as on 09:20:29 AM 09:20 AM, Click on company names for their live prices.
Sensex Today | Stock Market Live Updates: 77.2 lakh shares of CDSL traded in a block deal
Price as on 09:19:54 AM 09:19 AM, Click on company names for their live prices.
Opening Bell: Sensex gains 200 points, Nifty nears 22,100; CDSL tanks 5%, Sanofi rises 3%
Sensex Today | Stock Market Live Updates: Pre-open session: Sensex gains 350 points, Nifty above 22,100
Yen hits 34-yr low ahead of key US inflation test
The dollar climbed on Wednesday in the wake of more strong U.S. economic data, nudging the Japanese yen to a 34-year low and into the zone that drew official market intervention in 2022.The yen traded at 151.97 per dollar in the Asia session, down about 0.2% and weaker than 151.94 where Japanese authorities stepped in during October 2022 to buy the currency and its weakest level since the middle of 1990.
Sensex Today | Stock Market Live Updates: Rupee may face some pressure as weaker yuan weighs on Asian FX
The rupee is likely to open flat on Wednesday, although the Indian currency may face some pressure on the back of a decline in the offshore Chinese yuan that dragged most Asian currencies lower.
Non-deliverable forwards indicate rupee will open largely unchanged from its close at 83.28 against the U.S. dollar on Tuesday.
Non-deliverable forwards indicate rupee will open largely unchanged from its close at 83.28 against the U.S. dollar on Tuesday.
Sensex Today | Stock Market Live Updates: Stocks in F&O ban today
SAIL is the only stock in F&O ban on Wednesday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit
Global gold prices firm on Wednesday
Gold prices held firm on Wednesday, supported by lower U.S. Treasury yields, although bullion traded in a narrow range as investors stayed on the sidelines awaiting more cues on the Federal Reserve policy. Spot gold was steady at $2,178.31 per ounce, as of 0125 GMT, following two session on gains. U.S. gold futures edged 0.1% lower to $2,173.70 per ounce.
Sensex Today | Stock Market Live Updates: US stocks slipped in overnight trade
U.S. stocks slipped on Tuesday, giving up modest gains late in the session to send the Dow and S&P 500 to their third straight decline, as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve's policy path.
- Dow Jones Industrial Average fell 0.08%
- S&P 500 lost 0.28%
- Nasdaq Composite slid 0.42%
Sensex Today | Stock Market Live Updates: Asian stocks trade on mixed note
Stocks in Asia were mixed after US benchmarks wiped out gains in the final half hour of trading, with investors tweaking portfolios after a rally that’s already topped $4 trillion this year. Shares fell at the open in Hong Kong and mainland China, while rising in Japan and Australia.
- Japan’s Topix index rose 0.7%
- Hong Kong’s Hang Seng Index fell 0.5%
- China’s Shanghai Composite Index fell 0.2%
- Australia’s S&P/ASX 200 Index rose 0.3%
Sensex Today | Stock Market Live Updates: Rupee ends stronger
The Indian rupee closed stronger on Tuesday, as likely central bank intervention and an uptick in Asian peers helped it recover from last week's record lows.
The rupee closed at 83.28 against the US dollar, higher by nearly 0.2% compared with its close at 83.4250 in the previous session. The rupee had hit its lifetime low of 83.43 on Friday.
The rupee closed at 83.28 against the US dollar, higher by nearly 0.2% compared with its close at 83.4250 in the previous session. The rupee had hit its lifetime low of 83.43 on Friday.
Sensex Today | Stock Market Live Updates: How Indian stock market moved on Tuesday
Indian shares ended in the red on Tuesday, dragged down by high-weightage financials and information technology stocks, as consolidation continued ahead of the end of the financial year.
The BSE benchmark Sensex declined 362 points or 0.50% to settle at 72,470. The broader NSE Nifty dropped 92 points or 0.42% to end at 22,005.
The BSE benchmark Sensex declined 362 points or 0.50% to settle at 72,470. The broader NSE Nifty dropped 92 points or 0.42% to end at 22,005.
