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Nifty on path to retracting the rise it has witnessed from 22,710 to 22,776. How to trade next week
12 Apr, 2024 | 08:10:00 PM IST
Nifty on Friday ended 234 points lower to form a Doji candle on the weekly scale. On the daily charts, the index closed below the lows of the previous 3 trading sessions which indicates weakness.
The index is in the process of retracing the rise it has witnessed from 22,710–22,776. The next crucial support level stands at 22,370. On the upside, 22,620 – 22,650 shall act as an immediate hurdle from a short-term perspective, said Jatin Gedia of Sharekhan.
The index is in the process of retracing the rise it has witnessed from 22,710–22,776. The next crucial support level stands at 22,370. On the upside, 22,620 – 22,650 shall act as an immediate hurdle from a short-term perspective, said Jatin Gedia of Sharekhan.
1 New Update
India 10-yr yield posts biggest jump in 6 months amid Treasury push
Indian government bond yields jumped on Friday, with the benchmark yield posting its biggest single-day rise in six months, tracking U.S. yields after elevated inflation reaffirmed doubts over interest rate cuts in the near future.
US stocks open lower after mixed big bank earnings
Wall Street's main indexes opened lower on Friday as most megacap growth stocks and chipmakers receded, while some big banks dipped after dour quarterly results.
The Dow Jones Industrial Average fell 139.94 points, or 0.36%, at the open to 38,319.14.
The S&P 500 opened lower by 27.55 points, or 0.53%, at 5,171.51, while the Nasdaq Composite dropped 149.17 points, or 0.91%, to 16,293.03 at the opening bell.
The Dow Jones Industrial Average fell 139.94 points, or 0.36%, at the open to 38,319.14.
The S&P 500 opened lower by 27.55 points, or 0.53%, at 5,171.51, while the Nasdaq Composite dropped 149.17 points, or 0.91%, to 16,293.03 at the opening bell.
Citi Q1 Results: Profit drops as costs rise for employee severance, deposit insurance
Citigroup's profit fell in the first quarter as it spent more on severance payments for laid-off employees and set aside money to refill a government deposit insurance fund.
Net income fell to $3.4 billion, or $1.58 per share, in the three months ended March 31, the bank said on Friday. That compares with $4.6 billion, or $2.19 per share, a year earlier.
Net income fell to $3.4 billion, or $1.58 per share, in the three months ended March 31, the bank said on Friday. That compares with $4.6 billion, or $2.19 per share, a year earlier.
Europe stocks boosted by ECB rate cut signal; earnings in focus
Europe's stock markets rose Friday after the European Central Bank signalled a likely June interest rate cut, with London boosted by fresh hope that Britain has escaped from recession, as dealers also awaited the start of the US earnings season. Gold hammered a record pinnacle at $2,400.67 per ounce as dealers flocked to the haven investment to shelter from intensifying Middle East tensions, which also propelled crude oil more than 1% higher.
Nifty forms Doji candle on weekly charts. What's next for D-Street
Nifty on Friday ended 234 points lower to form a Doji candle on the weekly scale. On the daily charts, the index closed below the lows of the previous 3 trading sessions which indicates weakness.
Wells Fargo Q1 Results: Profit shrinks on lower interest income
Wells Fargo's first quarter profit dropped as it earned less from customer interest payments. Net income declined to $4.62 billion, or $1.20 per share, for the three months ended March 31, the lender reported on Friday. That compared with $4.99 billion, or $1.23 per share, a year earlier.
JPMorgan Q1 Results: Profit rises on interest income strength
PMorgan Chase's profit rose in the first quarter as it earned more from interest payments, the bank said on Friday. The biggest U.S. lender's profit was $13.42 billion, or $4.44 per share, for the three months ended March 31. That compares with $12.62 billion, or $4.10 per share, a year earlier.
TCS Q4 Results: Profit rises 9% YoY to Rs 12,434 crore, beats estimates
India's leading software exporter Tata Consultancy Services (TCS) on Friday reported a consolidated net profit of Rs 12,434 crore in the fourth quarter. It was up 9% from Rs 11,392 crore a year ago.
TCS Q4 Results
PAT: Rs 12502 cr vs ET NOW poll of Rs 11980 cr
Revenue at Rs 61,237 crore vs poll of Rs 61,650 crore
Dividend declared at Rs 28
Revenue at Rs 61,237 crore vs poll of Rs 61,650 crore
Dividend declared at Rs 28
Rupee falls 12 paise to close at 83.43 (provisional) against US dollar.
Top gainers & losers in closing trade
Price as on 03:34:38 PM 03:34 PM, Click on company names for their live prices.
Closing Bell: Sensex tanks 793 points, Nifty below 22,550; TCS ends marginally higher ahead of Q4 show
Pound hits five-month low as dollar rallies on lower Fed bets
Sterling fell to a five-month low on Friday even as data showed the British economy was on course to exit its shallow recession, with all major currencies coming under pressure from a dominant dollar. The pound was down 0.48% at $1.249, the lowest since mid-November. It was heading for a weekly loss of 1.1%, after hot U.S. inflation data this week slashed Federal Reserve easing expectations, boosting U.S. bond yields and the dollar.
GQG, SBI funds eye investments in Vodafone Idea $2.16 bln share sale, sources say
Investment firm GQG Partners and State Bank of India Mutual Fund are considering investing up to $800 million in total in a $2.16 billion share offering of Indian telecom firm Vodafone Idea, according to two people familiar with the matter.
Oil rebounds on Mideast tensions but set for weekly loss
Oil rose on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, although the market is set for a weekly loss on expectations of fewer U.S. interest rate cuts this year.
Concern that Iran might retaliate for an attack on Monday by suspected Israeli warplanes on Iran's embassy in Damascus has supported oil near a six-month high this week, despite dampening factors such as rising U.S. inventories.
Concern that Iran might retaliate for an attack on Monday by suspected Israeli warplanes on Iran's embassy in Damascus has supported oil near a six-month high this week, despite dampening factors such as rising U.S. inventories.
Stock Market LIVE Updates | SENSEX PLUNGES 700 PTS!
HEATMAP: Here' how top stocks are trading
Stock Market LIVE Updates | Pratham EPC Projects gets work order worth Rs 497 crore; stock soars 20%
Price as on 02:04:10 PM 02:04 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: HFCL Ltd got purchase orders aggregating to Rs 64.93 crore
Price as on 01:32:50 PM 01:32 PM, Click on company names for their live prices.
Stock Market LIVE Updates: European stocks rise at open
Europe's stock markets rallied Friday as dealers took their cue from Wall Street's positive lead and upbeat UK economic growth data. London's benchmark FTSE 100 index of leading blue-chip companies added 0.8 percent to 7,988.87 points, boosted partly by news of UK economic growth in February.
Sensex Today | Stock Market LIVE Updates | SENSEX FALLS 600 PTS
HDFC Bank and Infosys drag Sensex 600 pts lower.
Sensex Today | Stock Market LIVE Updates | Top gainers & losers at this hour
Price as on 12:33:20 PM 12:33 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | SENSEX FALLS 500 PTS!
Sensex declines over 500 pts to fall below 74,600 level.
Sensex Today | Stock Market LIVE Updates | Godfrey Phillips' Board decides to exit from carrying out thebusiness operations of its Retail Business Division. The revenue from operations for the Retail Business Division for FY 22-23 was Rs. 396 crores, being 9.3% of the total revenue from operations.
Price as on 12:17:00 PM 12:17 PM, Click on company names for their live prices.
ET Exclusive: Japan’s MUFG set to pick 20% stake in HDFC Bank arm HDB Financial for $2 bn
Bank of Tokyo-Mitsubishi UFJ (MUFG) is buying a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank at a $9-10 billion valuation, ahead of its proposed IPO, said people aware. The final decision is likely to take place next week at the HDFC Bank board meeting, said people in the know. Once announced this will be among the largest deal in the shadow banking space in India.
Sensex Today | Stock Market LIVE Updates | Vakrangee partners with global one enterprises (max tv) to provide ott services
Price as on 11:44:15 AM 11:44 AM, Click on company names for their live prices.
Stock Market LIVE Updates: Tokyo shares close higher
11:39 -Tokyo, Apr 12, 2024 (AFP) -Tokyo stocks closed higher on Friday after US tech shares gained, while the yen weakened against the dollar. The benchmark Nikkei 225 index rose 0.21 percent, or 80.92 points, to 39,523.55, while the broader Topix index added 0.46 percent, or 12.68 points, to 2,759.64.
Sensex Today | Stock Market LIVE Updates | Stocks at 52-week high!
Rising against the market mood, IRCTC and Tata Power among top stocks that hit 52-week high today
Gold Price Today: Yellow metal breaks above Rs 72,000/10 grams mark, silver hits Rs 84,000/kg for first time
Gold prices hit yet another lifetime high in Friday's opening trade after softer US PPI inflation data lifted sentiments for bullion on the Street. The new peaks were scaled notwithstanding a firmer dollar index (DXY) which has shot up over 105, gaining over 1% in the last five trading sessions.
Sensex Today | Stock Market LIVE Updates: Brokerage firm JM Financial maintains a buy recommendation on Zomato and raises price target to Rs 260 from the earlier target of Rs 200 on account of the company’s quick commerce business, Blinkit’s exponential growth.
Price as on 11:05:03 AM 11:05 AM, Click on company names for their live prices.
Sensex Today | Stock Market View: Prashanth Tapse, Mehta Equities on Bharti Hexacom post listing
Long term investors got a great opportunity to hold mid-cap telecommunications solutions providers and to play long term India’s telecom structural ARPU growth story. Furthermore, Bharti Hexacom’s anchor book showcases top global investors such as Capital Group, Fidelity, Blackrock, and ADIA participating ahead of the opening of the IPO which give all other investors more comforts to block money for long term.
On valuation at Cmp Rs 821 it is matching the listed peers and even trading on premium to its parent. Hence, considering all the parameters we recommend allotted investors to “HOLD” the Bharti Hexacom Ltd for Long term perspective only while those investors who wish to add on the listing days can wait and watch the space post listing performance and accumulate on dips.
On valuation at Cmp Rs 821 it is matching the listed peers and even trading on premium to its parent. Hence, considering all the parameters we recommend allotted investors to “HOLD” the Bharti Hexacom Ltd for Long term perspective only while those investors who wish to add on the listing days can wait and watch the space post listing performance and accumulate on dips.
Top 10 stocks to buy before Sensex grows from 75,000 to 1 lakh
Having compounded at a healthy CAGR of 15.85% since inception in 1949, Sensex scaled the 75,000 peak this week with bulls predicting that the 1 lakh milestone will come within the next five years. Market guru Raamdeo Agrawal has even predicted that the headline index should touch 1.5 lakh by 2029.
Sensex Today | Stock Market LIVE Updates | Manorama Industries begins the commissioning of its new fractionation plant; stock jumps 6%
Price as on 10:16:56 AM 10:16 AM, Click on company names for their live prices.
Break of key levels in Treasuries prompts selloff in Indian bonds
Indian government bond yields climbed on Friday as elevated U.S. inflationary pressures reaffirmed doubts on the ability of the Federal Reserve to deliver interest rate cuts in the near future, sending Treasury yields higher.
The yield on the benchmark Indian 10-year was at 7.1749%, as of 10 a.m. IST, after closing at 7.1112% on Wednesday. The yield hit 7.1809%, highest since Jan. 29 earlier on Friday, while the bond markets were shut on Thursday.
The yield on the benchmark Indian 10-year was at 7.1749%, as of 10 a.m. IST, after closing at 7.1112% on Wednesday. The yield hit 7.1809%, highest since Jan. 29 earlier on Friday, while the bond markets were shut on Thursday.
Sensex Today | Stock Market LIVE Updates | Bharti Hexacom shares list at a premium of 32%
BSE - Rs 755.2 (Up - Rs 185.2 or 32.5%)
NSE - Rs 755 (Us - Rs 185 or 32.5%)
NSE - Rs 755 (Us - Rs 185 or 32.5%)
Sensex Today | Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The hotter-than-expected US inflation has spiked the US bond yields. This is negative for FPI inflows but is unlikely to impact the Indian market which is resilient, and the rally is driven mainly by domestic liquidity. Dips are likely to get bought imparting strength to the market. Therefore, investors may use the dips to buy high quality largecaps where the margin of safety is high.
Sensex Today | Stock Market LIVE Updates | Metropolis Healthcare shares rose nearly 8% after the company said it saw a 10% year-on-year revenue growth in the March quarter.
Price as on 09:43:53 AM 09:43 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Computer Age Management Services (CAMS) shares jumped over 5% in early trade after the Reserve Bank of India (RBI) granted authorisation to the company to operate as an online payment aggregator.
Price as on 09:33:56 AM 09:33 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Vodafone Idea: Approved floor price for FPO at Rs 10/share
Price as on 09:23:52 AM 09:23 AM, Click on company names for their live prices.
Rupee falls 5 paise to 83.36 against US dollar in early trade.
Sensex Today | Stock Market LIVE Updates | BEL, Vedanta among top movers in opening trade
Price as on 09:22:42 AM 09:22 AM, Click on company names for their live prices.
Opening Bell: Sensex falls 250 points, Nifty below 22,700; CAMS surges 4%, Sun Pharma sheds 2%
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex dips 150 points; Nifty below 22,720
Sensex Today | Stock Market LIVE Updates: Vodafone Idea FPO to open on April 18
Cash-strapped Vodafone Idea's board on Friday approved a resolution for a public offering of its equity shares worth Rs 18,000 crore. A company filing said that the follow-on public offer (FPO) will open on April 18, Thursday and close on April 22, Monday. The anchor investor bid will open on April 16.
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | AXIS CAPITAL ON METALS
- Hindalco is the top pick
- Downgrade Tata Steel to Sell from reduce
- Reiterate Sell/ Reduce on JSW Steel, JSPL and SAIL
- Prefer non-ferrous over ferrous
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | INVESTEC ON INDIGO
- Downgrade rating from Buy to Hold
- Target price raised from Rs 3,500 to Rs 4,050
- Foresee a notable slowdown in earnings growth in FY25
- Expect earnings to broadly remain flat in FY25 versus FY24
- See a decrease in capacity expansions and a rise in operating costs
- Sharp spike in Brent price could pose downside risk
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | AXIS CAPITAL ON INDIGO
- Downgrade to ADD from BUY
- 22% absolute performance in the last month leaves limited upside
- Raise our target price to Rs 4,100 (from Rs 3,710)
- Stock price run-up discounts quite a few recent positives
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | JMFL ON BHARTI HEXACOM
- Mid-cap pure-play on structural wireless ARPU growth story
- 10% ARPU CAGR via tariff hikes & Bharti Airtel's
- Presence in high growth potential markets as Rajasthan/NE circle
- FY24-30 EBITDA CAGR seen at 15%
- Relatively lower capex - higher ROCE business vs. Bharti; likely to become net-cash by FY29
- Initiate with BUY with target price of Rs 790
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | GOLDMAN SACHS ON CREDITACCESS GRAMEEN
• Initiate at Buy with a target price of Rs 1,788/share, and an implied upside of 25%
• Riding the up-cycle well; diversification to improve visibility
• Forecast a healthy 21% PAT CAGR over FY24-FY26E on strong lending CAGR of 24%
• Stock currently trades at 2.7x P/B and 12x P/E FY25E which is at a discount of ~27% to NBFCs within our coverage on P/E
• Riding the up-cycle well; diversification to improve visibility
• Forecast a healthy 21% PAT CAGR over FY24-FY26E on strong lending CAGR of 24%
• Stock currently trades at 2.7x P/B and 12x P/E FY25E which is at a discount of ~27% to NBFCs within our coverage on P/E
Stock Market View: Pre-opening market comment by Prashanth Tapse, Senior VP (Research), Mehta Equities
In Wednesday's trading session, Nifty closed at 22669, marking a decline of 135 points from the previous close. Noteworthy was Sensex's triumph, surpassing the historic 75,000 milestone, with Bank Nifty also hitting a record high at 49057. However, market sentiments were shaken by the US CPI inflation data, questioning the Fed's rate-cut plans and prompting a bearish outlook on potential rate cuts for 2024. Despite this, hopes for robust Q4 corporate earnings and a pre-election rally remain positive catalysts, as reflected in net buying by both FIIs and DIIs. Nifty's options data indicates a trading range of 21700-23000, with 23000 emerging as a crucial resistance zone.
Breakout Stocks: How to trade Vedanta, Petronet LNG and Indigo on Friday?
Priyanka Limaye, CA, CMT explains how to trade these stocks:
Vedanta
If it clears and stays above 392, the stock has good prospects of testing its life high of 440 in the medium-term. On the downside, 340-320 are likely to act as good support zones now.
Petronet LNG
It is expected to test the 350 mark very soon, and any dip towards 290 can be used as a buying opportunity with a stop of 280.
IndiGo
In the short term, it is expected to test 4050 -4100 which is a minor technical hurdle. If the stock sustains above 4050-4100, it can touch 5000 levels. On the downside, 3400-3300 is likely to act as a strong support.
Vedanta
If it clears and stays above 392, the stock has good prospects of testing its life high of 440 in the medium-term. On the downside, 340-320 are likely to act as good support zones now.
Petronet LNG
It is expected to test the 350 mark very soon, and any dip towards 290 can be used as a buying opportunity with a stop of 280.
IndiGo
In the short term, it is expected to test 4050 -4100 which is a minor technical hurdle. If the stock sustains above 4050-4100, it can touch 5000 levels. On the downside, 3400-3300 is likely to act as a strong support.
Sensex Today | Stock Market LIVE Updates: Asian stocks muted, gold at new peak as markets weigh Fed cut timing
Asian equities were in a subdued mood on Friday as investors pondered the path for Federal Reserve interest rate cuts amid a murky U.S. inflation outlook.
Sensex Today | Stock Market LIVE Updates: Gold prices hit record highs on safe-haven demand
Gold prices scaled to a record high on Friday as geopolitical tensions continued to boost demand for the safe-haven metal, while strong economic data failed to dampen bullion's allure.
Sensex Today | Stock Market LIVE Updates: Yen crumbles under towering dollar and US Treasury yields
The yen struggled to break away from a 34-year low on Friday and was headed for a weekly decline, while the dollar hovered near a five-month high alongside U.S. Treasury yields as traders heavily scaled back bets for a slew of U.S. rate cuts this year.
Sensex Today | Stock Market LIVE Updates: Tokyo stocks open higher, yen weakens again
Tokyo stocks opened higher on Friday after US tech shares gained, while the yen weakened against the dollar. The benchmark Nikkei 225 index was up 0.65 percent, or 257.37 points, at 39,700.00 in early trade, while the broader Topix index added 0.50 percent, or 13.77 points, to 2,760.73.
Sensex Today | Stock Market LIVE Updates: Quarterly earnings today
IT services company TCS will kickstart the fourth quarter earnings season
Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 43 points, or 0.19 per cent, at 22,672, signaling that Dalal Street was headed for muted start on Friday.
