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Stock Market Highlights: Nifty chart indicates pause before next-move; short-term trend positive; how to trade next
02 Apr, 2024 | 10:31:18 PM IST
Nifty on Tuesday ended 9 points lower to form back-to-back Doji patterns on the daily chart, typically indicating a pause before the next move.
The short-term trend of Nifty remains positive. Though, Nifty placed at the crucial overhead resistance around 22500 levels, still there is no confirmation of any reversal pattern unfolding at the highs. A decisive move above the hurdle of 22500-22600 levels could open more upside in near term. Immediate support is at 22350 levels, said Nagaraj Shetti of HDFC Securities.
The short-term trend of Nifty remains positive. Though, Nifty placed at the crucial overhead resistance around 22500 levels, still there is no confirmation of any reversal pattern unfolding at the highs. A decisive move above the hurdle of 22500-22600 levels could open more upside in near term. Immediate support is at 22350 levels, said Nagaraj Shetti of HDFC Securities.
1 New Update
Bitcoin drops more than 7%, sinks below $65,000 mark
US stocks fall at open as health insurers, Tesla weigh
Wall Street's main indexes opened lower on Tuesday, hurt by sharp losses in health insurers and Tesla, while investors awaited comments from Federal Reserve officials and more economic data.
The Dow Jones Industrial Average fell 310.58 points, or 0.78%, at the open to 39,256.27.
The S&P 500 opened lower by 39.48 points, or 0.75%, at 5,204.29, while the Nasdaq Composite dropped 197.60 points, or 1.21%, to 16,199.24 at the opening bell.
The Dow Jones Industrial Average fell 310.58 points, or 0.78%, at the open to 39,256.27.
The S&P 500 opened lower by 39.48 points, or 0.75%, at 5,204.29, while the Nasdaq Composite dropped 197.60 points, or 1.21%, to 16,199.24 at the opening bell.
FPIs turn net sellers for second straight day
Foreign portfolio investors were net sellers at Rs 1,622 crore for the second straight day. DIIs, meanwhile, bought shares worth Rs 1,953 crore.
India bond yields edge higher tracking US peers
Indian government bond yields ended higher on Tuesday, tracking a surge in U.S. peers as strong economic data trimmed rate-cut expectations.
In addition, a shift in the domestic debt auction methodology weighed on sentiment in the first trading session for debt markets in the new financial year.
In addition, a shift in the domestic debt auction methodology weighed on sentiment in the first trading session for debt markets in the new financial year.
India bond yields edge higher tracking US peers
Indian government bond yields ended higher on Tuesday, tracking a surge in U.S. peers as strong economic data trimmed rate-cut expectations. In addition, a shift in the domestic debt auction methodology weighed on sentiment in the first trading session for debt markets in the new financial year.
JSW Energy approved raising of funds of up to Rs 5000 crore
Vedanta gets tax demand notice for Rs 1.86 crore
Tech View: Nifty forms two successive Doji candles. What traders should do on Wednesday
Nifty on Tuesday ended 9 points lower to form back-to-back Doji patterns on the daily chart, typically indicating a pause before the next move.
The short-term trend of Nifty remains positive. Though, Nifty placed at the crucial overhead resistance around 22500 levels, still there is no confirmation of any reversal pattern unfolding at the highs.
The short-term trend of Nifty remains positive. Though, Nifty placed at the crucial overhead resistance around 22500 levels, still there is no confirmation of any reversal pattern unfolding at the highs.
India commanding higher valuations on investors' optimism and trust: Buch
Sebi chairperson Madhabi Puri Buch on Tuesday said the Indian capital markets are commanding higher valuations because of foreign investors' optimism and trust in the country.
Nifty Bank ends flat with negative bias; ‘deploy buy on dips’ approach: Experts
The Nifty Bank snapped a 3-day winning streak to close flat on Tuesday but with a negative bias. It closed 32 points lower at 47,545 while the Nifty50 closed flat at 22,453.
Rupee ends flat, wedged between weak Asian peers and exporters' dollar sales
The Indian rupee ended little changed on Tuesday after hovering in a tight band through the session as dollar sales by exporters helped offset weakness in the currency's Asian peers. The rupee closed at 83.3850 against the U.S. dollar, barely changed from its close at 83.40 in the previous session.
Rupee settles flat at 83.39 (provisional) against US dollar.
Top gainers & losers in closing trade
Price as on 03:35:44 PM 03:35 PM, Click on company names for their live prices.
Closing Bell: Sensex breaks 3-day winning run, ends 111 pts lower; Nifty below 22,500; Tanla soars 11%, Vi falls 5%
Bank of China says net interest margin will continue to face pressure
Bank of China (BoC) said its net interest margin (NIM) - a key gauge of profitability - will still face significant pressure this year. Vice President Zhang Yi made the remarks in an earnings press conference on Tuesday. Five of China's largest lenders have posted shrinking NIMs, while warning of ongoing property sector risks.
Brent crude breaks above $88 for first time since October on fresh supply threats
Euro zone bond yields track US Treasuries' rise, Italian spread hits one-month high
Euro zone borrowing costs rose on Tuesday as investors balanced the jump in US Treasury yields the day before against German data confirming that the disinflation process was underway.
U.S. Treasury yields rose on Monday as economic data raised doubts about whether the Federal Reserve could deliver on three rate cuts this year.
U.S. Treasury yields rose on Monday as economic data raised doubts about whether the Federal Reserve could deliver on three rate cuts this year.
High subscriptions and significant GMP suggest significant listing gains on the company's first trading day. While short-term volatility is always possible, SRM Contractors presents a compelling proposition for investors with a long-term perspective.
- Pre-listing view on SRM Contractors from Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.
Sensex Today | Stock Market LIVE Updates | Can Fin Homes accepts bids for 5-year bonds - bankers
Price as on 02:27:49 PM 02:27 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Gandhar Oil Refinery receives work order worth Rs 15 crore from BESCOM
Price as on 02:20:29 PM 02:20 PM, Click on company names for their live prices.
Dollar hits 5-month high while jawboning supports yen
The U.S. dollar hit its highest in almost five months on Tuesday as stronger-than-expected economic data caused investors to cut their bets on a June rate cut, boosting the currency.
Fears of intervention by Japanese officials slowed the dollar's gains against the yen, however, even as long-term U.S. Treasury yields - which the currency pair tends to track - jumped to a two-week top overnight.
Fears of intervention by Japanese officials slowed the dollar's gains against the yen, however, even as long-term U.S. Treasury yields - which the currency pair tends to track - jumped to a two-week top overnight.
Sensex Today | Stock Market LIVE Updates | Zomato gets service tax demand and penalty order of Rs 184 cr
Price as on 02:08:24 PM 02:08 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Ion Exchange gets ₹250 cr order from Material Construction, UAE: Agencies
Price as on 01:44:31 PM 01:44 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Astron Paper & Board Mill gets tax demand notice for Rs 4.59 crore
Price as on 01:24:56 PM 01:24 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Shree Cement commissions integrated cement plant at Guntur District, Andhra Pradesh
Price as on 01:24:36 PM 01:24 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Servotech Power Systems collaborates with Electra Ev for Ev charging technologies; stock up 5%
Price as on 01:23:50 PM 01:23 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Computer Age Management Services says issuance of insurance policies in electronic form
Price as on 01:13:27 PM 01:13 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Mankind Pharma approves slump sale of over counter business to unit proposed to be incorporated
Price as on 01:10:21 PM 01:10 PM, Click on company names for their live prices.
Stock Market LIVE Updates: European stocks rise at open after Easter
Europe's main stock markets climbed at the opening bell on Tuesday as traders returned to action after the Easter holiday. London's benchmark FTSE 100 index of leading blue-chip companies added 0.5 percent to 7,991.96 points, compared with Thursday's closing level. In the eurozone, the Paris CAC 40 index won 0.2 percent to 8,225.29 points and Frankfurt's DAX gained 0.3 percent to stand at 18,540.47.
Sensex Today | Stock Market LIVE Updates: European stocks rise at open after Easter
Europe's main stock markets climbed at the opening bell on Tuesday as traders returned to action after the Easter holiday. London's benchmark FTSE 100 index of leading blue-chip companies added 0.5 percent to 7,991.96 points, compared with Thursday's closing level.
Tokyo's Nikkei ends marginally higher
Tokyo's key Nikkei index closed slightly higher on Tuesday, supported by gains in semiconductor shares.
The benchmark Nikkei 225 index edged up 0.09 percent, or 35.82 points, to 39,838.91, while the broader Topix index fell 0.25 percent, or 6.77 points, to 2,714.45.
The benchmark Nikkei 225 index edged up 0.09 percent, or 35.82 points, to 39,838.91, while the broader Topix index fell 0.25 percent, or 6.77 points, to 2,714.45.
Sensex Today | Stock Market LIVE Updates: Top losers from the power pack
Price as on 12:28:00 PM 12:28 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Anant Raj says as on date, co achieved pre sales of Rs 4150 crore for projects at sector 63A Gurugram, Haryana
Price as on 11:25:34 AM 11:25 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: BASF India entered a 25-year long-term power purchase agreement with clean renewable energy Kk 2C
Price as on 11:21:34 AM 11:21 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | VeerHealth Care secures new order worth Rs 57.36 lakhs from ApolloHealthco
Price as on 11:21:01 AM 11:21 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: State-owned Indian Renewable Energy Development Agency (IREDA) on Tuesday said that it has recorded its highest-ever annual loan sanctions and disbursements in fiscal 2023-24. The company has sanctioned loans amounting to Rs 37,354 crore and disbursed loans worth Rs 25,089 crore during the fiscal year 2023-24, an IREDA statement said.
Price as on 11:20:52 AM 11:20 AM, Click on company names for their live prices.
Cryptocurrency Price: Bitcoin falls 6% to $66,400 after release of US March manufacturing data
Bitcoin fell 5.8% to $66,398 in Tuesday's trading session after US manufacturing sector data for March rose more than expected. Meanwhile, Ethereum, the second largest crypto token, also plunged over 6.6% to $3,365.
U.S. manufacturing grew for the first time in 1-1/2 years in March as production rebounded sharply and new orders increased, but employment at factories remained subdued and prices for inputs pushed higher.
U.S. manufacturing grew for the first time in 1-1/2 years in March as production rebounded sharply and new orders increased, but employment at factories remained subdued and prices for inputs pushed higher.
Sensex Today | Stock Market LIVE Updates: Hindustan Copper says during FY 2023-24 achieved MIC of 27,404 tonne
Price as on 11:01:24 AM 11:01 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Realty firm Sobha Ltd has received demand notices of nearly Rs 46 crore from Income Tax Department. The notices were issued by Deputy Commissioner of Income Tax, Central Circle- 1(4), Bengaluru. The notices are related to Assessment Year ( AY) 2016-17 and 2022-23.
Price as on 11:00:51 AM 11:00 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Jefferies on Suven Pharma
Big Pharma are looking for geographical diversification and want to avoid supplier concentration risk, and India becomes obvious choice given high number of USFDA-approved units. That said the next 2-3 quarters could remain challenging due to weak global macros and low funding in global Biotech space. Suven believes that some green shoots in the sector could emerge in H2CY24.
Sensex Today | Stock Market LIVE Updates | Shares of Aditya Birla Capital on Tuesday rose 7.3% to Rs 195 on NSE after global broking firm Macquarie initiated coverage on the NBFC with an outperform rating. It has set a target price of Rs 230 on the stock for the next 12 months and also said the scrip can even double in three years.
Price as on 10:46:44 AM 10:46 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: SpiceJet Set to Receive Q400 Aircraft from NAC in settlement agreement; ownership of six Q400s transferred to airline
Price as on 10:40:08 AM 10:40 AM, Click on company names for their live prices.
The Monetary Policy Committee of the RBI will hold its first meeting for the financial year (FY) 2024-25. We expect the RBI MPC to keep the policy repo rate unchanged at 6.5% and retain the monetary policy stance of ‘withdrawal of accommodation.’ After a 25 bps hike in February 2023, the rate has remained unchanged at this level over seven straight MPC meetings. With the rise in crude oil prices and the USD INR recently touching its all-time high, it is unlikely that the RBI will change its stance to neutral. We expect the RBI to take comfort from declining core inflation, slightly soften its hawkish forward guidance, but remain cautious given the upside risks to food inflation and the repricing of the Fed funds rate easing path. RBI aims to keep inflation at 4% with a comfort band of 2% in both directions.
- Amit Goel, Co-Founder & Chief Global Strategist, Pace 360
March factory growth hits 16-year high, hiring picks up
India's manufacturing industry enjoyed solid growth in March, expanding at the fastest pace in 16 years thanks to accelerating demand, according to a survey that also showed hiring increased at the strongest rate in six months.
Ahead of a general election this month, the data is likely to boost support for Prime Minister Narendra Modi's government, which has focused on manufacturing to improve the economy, already the fastest-growing among its major peers.
Ahead of a general election this month, the data is likely to boost support for Prime Minister Narendra Modi's government, which has focused on manufacturing to improve the economy, already the fastest-growing among its major peers.
Stock Market LIVE Updates | AUTO SALES DATA: TVS Motor Company registers its highest ever sales in FY 2023-24 at 41.9 lakh units with 14% growth; total sales in March 2024 increases by 12%
Price as on 10:34:59 AM 10:34 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: APL Apollo among top gainers from metals pack
Price as on 10:32:01 AM 10:32 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Adani Ports rise 4% after the firm handled 420 MMT of cargo in FY24 (including international ports), clocking a 24% on-year rise.
Price as on 10:01:38 AM 10:01 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Naman In-Store lists at 40% premium on SME platform
NSE - Rs 125 (Up - Rs 36 or 40.45%)
Rupee rises 4 paise to 83.35 against US dollar in early trade.
Stock Market LIVE Updates | AUTO SALES DATA: Bajaj Auto March total sales at 3,65,904 units vs 291,567 units year ago
Price as on 09:36:21 AM 09:36 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Aditya Birla Fashion and Retail shares opened 15% higher after the apparel retailer said it was planning to demerge Madura Fashion & Lifestyle, which contributes more than 70% of the company's total revenue, into a separate listed entity.
Price as on 09:33:49 AM 09:33 AM, Click on company names for their live prices.
Market view by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
A distinct feature of a bull market is its ability to set new highs. This was evident yesterday when the Nifty set a new intraday high. In this bullish scenario characterised by strong momentum and supported by sustained gush of capital flows into the market, every dip will be bought, imparting resilience to the market.
Since the global construct is slightly negative as evidenced by the rising dollar and rising US bond yields ( the 10-year is at 4.3%) the FPIs may be tempted to sell. But FPI selling is not having any major impact on the market since DIIs, HNIs and retail investors are calling the shots now.
Even while riding the bull, investors should know that liquidity is overwhelming fundamentals in many pockets of the broader market. This calls for caution.
Since the global construct is slightly negative as evidenced by the rising dollar and rising US bond yields ( the 10-year is at 4.3%) the FPIs may be tempted to sell. But FPI selling is not having any major impact on the market since DIIs, HNIs and retail investors are calling the shots now.
Even while riding the bull, investors should know that liquidity is overwhelming fundamentals in many pockets of the broader market. This calls for caution.
Sensex Today | Stock Market LIVE Updates | BLOCK DEAL: Zomato's 69.2 lakh shares traded
Price as on 09:27:04 AM 09:27 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Tata Steel, BEL among most active stocks in morning trade
Price as on 09:21:03 AM 09:21 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Tata Technologies executed a Joint Venture agreement with BMW Holding B.V., Netherlands
Price as on 09:20:13 AM 09:20 AM, Click on company names for their live prices.
Opening Bell: Sensex drops over 100 pts, Nifty below 22,450; Adani Ports rises 3%, IndiaMart falls 4%
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex rises 80 points; Nifty above 22,485
Crypto Market Update: Bitcoin last down 5.2% at $66,170; ether down 4.5% at $3,340
