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Stock Market Highlights: Nifty daily chart indicates indecisiveness at current juncture. What’s in store for D-Street
24 Apr, 2024 | 09:33:29 PM IST
Nifty on Tuesday ended 34 points higher to form a Doji candle on the daily chart which indicates indecisiveness prevailing in the marketplace at the current juncture as it coincides with a critical resistance level of 61.8% retracement and a bearish gap.
Going ahead, 22,500 level remains a significant resistance on the monthly expiry day, but a sustained trade above 22500-22550 could trigger further upward movement, potentially driven by contract adjustments. Conversely, immediate support levels are identified at 22300-22250, with a pivotal support zone around the bullish gap of 22200-22180, said Rajesh Bhosale, Technical Analyst, Angel One.
Going ahead, 22,500 level remains a significant resistance on the monthly expiry day, but a sustained trade above 22500-22550 could trigger further upward movement, potentially driven by contract adjustments. Conversely, immediate support levels are identified at 22300-22250, with a pivotal support zone around the bullish gap of 22200-22180, said Rajesh Bhosale, Technical Analyst, Angel One.
1 New Update
Wall St opens higher on tech boost, earnings glee
Wall Street's main indexes opened higher on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support. The Dow Jones Industrial Average rose 49.1 points, or 0.13%, at the open to 38,552.79. The S&P 500 rose 14.3 points, or 0.28%, at the open to 5,084.86, while the Nasdaq Composite rose 109.0 points, or 0.69%, to 15,805.601 at the opening bell.
Nifty forms Doji candle ahead of monthly expiry. What traders should do on Thursday
Nifty today ended 34 points higher to form a Doji candle on the daily chart which indicates indecisiveness prevailing in the marketplace at the current juncture as it coincides with a critical resistance level of 61.8% retracement and a bearish gap.
FPIs net sellers for third straight day
Foreign portfolio investors (FPIs) were net sellers for the third straight day at Rs 2,511 crore on Wednesday. DIIs, meanwhile, bought shares worth Rs 3,809 crore.
LTIMindtree Q4 Results: Net profit falls marginally to Rs 1,100 crore, misses St estimates
IT services company LTIMindtree reported a consolidated net profit of Rs 1,100 crore for the March quarter, down 1% year-on-year (YoY). The profit was less than the Street estimate of Rs 1,150 crore.
HUL Q4 Results: Net profit drops 6% YoY to Rs 2,406 crore, misses estimates
FMCG major Hindustan Unilever Ltd (HUL) on Wednesday reported a 6% drop in its standalone net profit at Rs 2,406 crore for the quarter ended March 2024. The same stood at Rs 2,552 crore in the last year quarter.
Axis Bank Q4 Results: Lender back in black with profit of Rs 7,130 cr; NII jumps 22% YoY
Axis Bank on Wednesday reported a standalone net profit of Rs 7,130 crore for the quarter ended March 31, 2024, against a loss of Rs 5,728.42 crore reported by the bank in the corresponding quarter of the last financial year.
LTIMindtree Q4 Results: To pay final dividend of Rs 45/share
Axis Bank Q4 Results
- PAT at Rs 7,130 cr vs Street estimates of Rs 5,728 cr
- NII at Rs 13,089 cr vs Street estimates of Rs 11,742 cr
LTIMindtree Q4 Results
- PAT at Rs 1,100 cr vs Street estimates of Rs 1,150 cr
- Revenue at Rs 8893 cr vs Street estimates of Rs 8950 cr
FOREX NEWS: Rupee ends on a flat note
Rupee settles on flat note, down 2 paise at 83.33 (provisional) against US dollar.
Indian markets lagged the Asian peers as Q4 earnings remained largely subdued with weak results from IT and a few index heavyweights results also disappointed. However, buoyed by strong manufacturing and service sectors, the Indian composite PMI hit a multi-year high, reflecting domestic resilience bringing some buoyancy in the broad market. Globally, investor sentiment improved with easing tensions in the Middle East and declining oil prices.
- Vinod Nair, Head of Research, Geojit Financial Services
Top gainers & losers in closing trade
Price as on 03:35:15 PM 03:35 PM, Click on company names for their live prices.
Closing Bell: Bank, metal stocks drive Sensex 114 pts higher; Nifty above 22,400; Vi tanks 9%
Sensex Today | Stock Market LIVE Updates | Suprajit Engineering says relocation of manufacturing facility of Shanghai Lone Star Cable is now fully operational
Price as on 03:19:54 PM 03:19 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Maharashtra Scooters approves voluntary separation scheme for both workmen and staff
Price as on 03:16:15 PM 03:16 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Nippon Life hits record high on 73.2% YoY Q4 profit jump
Price as on 02:58:45 PM 02:58 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates:DCB Bank Q4 results
- Q4 net profit Rs 156 crore vs Rs 142 crore
- Q4 gross NPA 3.23% versus 3.43% prev quarter
- Q4 interest earned Rs 14.45 crore vs Rs 11.79 crore
- Q4 provisions and contingencies Rs 24.08 crore vs Rs 52.48 crore
- Q4 net NPA 1.11% versus 1.22% prev quarter
- Dividend of Rs 1.25 per share
Sensex Today | Stock Market LIVE Updates: Welspun Corp announced securing an international order valued at Rs 611 crore for supplying pipes and related items. The company has received a binding Letter of Award (LoA) to provide LSAW (Longitudinally Submerged Arc Welded) pipes, coating, and bends in Latin America, as per an exchange filing by Welspun Corp.
Price as on 01:59:52 PM 01:59 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Rail Vikas Nigam: RVNL JV emerges as the lowest bidder from Southern Railway
Price as on 01:41:06 PM 01:41 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Vikas Lifecare says received summon from Securities and Exchange Board Of India
- Summon for production of documents before investigating authority
Sensex Today | Stock Market LIVE Updates: Tata Group starts preparations for Tata Sons IPO
Source: ET NOW
Holding company stocks outpace returns of Sensex, Nifty by wide margins
Holding companies have significantly outperformed the benchmark index, Nifty over a longer investment horizon shows a study by Ways2wealth.
Here are top 8 picks suggested by the brokerage that signal an upside potential of more than 50%:
Here are top 8 picks suggested by the brokerage that signal an upside potential of more than 50%:
Sensex Today | Stock Market LIVE Updates | Maharashtra Scooters says dividend of Rs 60 per share
Price as on 12:58:25 PM 12:58 PM, Click on company names for their live prices.
Stock Market LIVE Updates | Dhampur Bio Organics Q4 Results
- Dividend Rs 2.5 per share
- Consol profit Rs 39.41 cr versus Rs 80.2 cr
- Consol revenue from operations at 595 cr versus Rs 921 cr
Sensex Today | Stock Market LIVE Updates | Zydus Lifesciences on Wednesday said the US health regulator has issued ten observations after inspecting its injectable manufacturing plant near Vadodara in Gujarat.
Price as on 12:40:42 PM 12:40 PM, Click on company names for their live prices.
Stock Market LIVE Updates | Axita Cotton Q4 Results
- Achieves record highrevenue of Rs.1104 Crore
- Record high profit in 2023-2024
- Declares 10%Dividend
- Yearly Net Profit at Rs. 20.58 crore in year 2023-2024 up 20.49% from Rs.17.08 crore in Year 2022-2023.
- EBITDA stands at Rs. 29.36 crore in Year 2023-2024 up 20.27% from Rs. 24.41crore in Year 2022-2023.
Sensex Today | Stock Market LIVE Updates | Airtel enhances network coverage across Leh and Ladakh
Price as on 12:11:25 PM 12:11 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Top gainers & losers at this hour
Price as on 12:10:49 PM 12:10 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Ask Automotive grants approval for entering into joint venture with Aisin Group Companies
* Joint venture for marketing, selling of independent after market parts for passenger cars
* Company shall own 51% of shareholding in JV
* Co to infuse funds up to Rs 10.71 crore
* Remaining 49% shall be owned by Aisin Group Companies
* Company shall own 51% of shareholding in JV
* Co to infuse funds up to Rs 10.71 crore
* Remaining 49% shall be owned by Aisin Group Companies
Sensex Today | Stock Market LIVE Updates: MCX shares plummeted 8% to Rs 3,715 in Wednesday's intraday trade on BSE after the company released its quarterly report, which showed positive results but fell below market estimates for the quarter ending March 2024.
Price as on 11:29:52 AM 11:29 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | GPT Infraprojects bags order worth Rs. 487 Crore.
Price as on 11:04:24 AM 11:04 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Bharti Airtel clarifies that it is not in any discussion with Vodafone Group to acquire stake in Indus Towers Limited
"The company has no desire to raise its stake beyond what is required for financial consolidation of Indus in the Company, which shall be done as and when appropriate with compliance of applicable disclosure requirements," the company said in its filing after a newspaper reported that it was eyeing the stake.
Stock Market LIVE Updates | EYE ON EARNINGS: Shares of HUL, LTIMindtree, Indian Hotels and Axis Bank will be in focus as the companies will announce their fourth quarter results.
Price as on 10:33:26 AM 10:33 AM, Click on company names for their live prices.
Stock Market LIVE Updates | EARNINGS IMPACT: ICICI Prudential on Tuesday reported a 26% drop in net profit to Rs 174 crore for the quarter ended March 31 on higher expenses.
Price as on 10:27:05 AM 10:27 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: How top companies are faring ahead of Q4 results
Price as on 10:07:38 AM 10:07 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Hot Stocks: Global brokerages see Airtel, Cipla delivering 10-15% return in next 1 year
- Morgan Stanley on ICICI Prudential Life: Equal Weight| Target Rs 610| LTP Rs 593| Upside 3%
- Citigroup on Bharti Airtel: Buy| Target Rs 1520| LTP Rs 1342| Upside 13%
Sensex Today | Stock Market LIVE Updates | Airtel in talks to buy Vodafone's stake in Indus Towers
Price as on 09:48:43 AM 09:48 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Biocon, Dabur among top 9 trading ideas for 24 April 2024
- Dabur India: Buy| Target Rs 527| Stop Loss Rs 498
- Biocon: Buy| Target Rs 307| Stop Loss Rs 273
- CCL Products: Buy| Target Rs 631| Stop Loss Rs 570
- Chambal Fertilisers: Buy| Target Rs 400| Stop Loss Rs 366
- LT Finance: Buy| Target Rs 180| Stop Loss Rs 160
- SDBL: Buy| Target Rs 360| Stop Loss Rs 300
- LIC Housing Finance: Buy| Target Rs 720| Stop Loss Rs 650
- IDFC: Buy| Target Rs 140| Stop Loss Rs 122
- Ambuja Cements: Buy| Target Rs 675| Stop Loss Rs 628
Sensex Today | Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The ability of bull markets to climb all walls of worries is being demonstrated by the ongoing bull market, which has shrugged off all headwinds, be it geopolitical or economic. The Middle East tensions had only a temporary impact on the market. The scaling down of rate cuts by the Fed from six at the beginning of this year to three or perhaps two or even lower also has not impacted the bull run. And, the indication from the sharp decline in the volatility index VIX by around 20% to 10.2 is that the downside risk to the market is low.
So it makes sense to remain invested in this market and to continue investing by buying the dips.
So it makes sense to remain invested in this market and to continue investing by buying the dips.
Sensex Today | Stock Market LIVE Updates | Cholamandalam Investment to issue 5-year bonds, bankers say
Price as on 09:34:19 AM 09:34 AM, Click on company names for their live prices.
Stock Market LIVE Updates | EARNINGS IMPACT: Tata Consumer shares fell over 4% after the company reported a 19% YoY fall in its consolidated net profit to Rs 217 crore for the quarter ended March 2024.
Price as on 09:32:16 AM 09:32 AM, Click on company names for their live prices.
Rupee rises 2 paise to 83.29 against US dollar in early trade.
Sensex Today | Stock Market LIVE Updates | SAIL, RVNL among most active stocks in morning trade
Price as on 09:20:27 AM 09:20 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | HEATMAP
Most of the top Sensex stocks trade in the green.
Sensex Today | Stock Market LIVE Updates: Opening Bell
Sensex rises 200 pts; Nifty above 22,400; ICICI Pru falls 6%, Tata Consumer 4% post Q4 nos
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | BROKERAGES ON M&M FINANCE
- Macquarie - Fraud detected: another re- rating challenge
- BofA - Branch fraud to raise concerns on process transformation efficacy
- Jefferies - though fraud amount is 15 bps of overall loan, the amount appears large for a branch
- Citi - Fraud Incident To Spook Confidence again
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | NOMURA ON ICICI PRU LIFE
• Downgrade to Neutral from Buy; target price at Rs 600
• Disappointment on margins continue
• Reduce APE/VNB growth to 13%/12% CAGR during FY24-26
• Growth has been picking up, but margins and VNB growth has been below expectations
• SBI Life remains top pick in the segment
Source | ET NOW
• Disappointment on margins continue
• Reduce APE/VNB growth to 13%/12% CAGR during FY24-26
• Growth has been picking up, but margins and VNB growth has been below expectations
• SBI Life remains top pick in the segment
Source | ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | MORGAN STANLEY ON ICICI PRU LIFE
• Downgrade to Equal-weight from Overweight; cut target price to Rs 610 from Rs 660
• Another quarter with a large miss in VNB margin
• Delivered on APE growth, but VNB missed estimate mainly by higher costs
• Higher costs could also be reflected in part in FY25
• Upside to our reduced price target is limited - we move to the sidelines
Source: ET NOW
• Another quarter with a large miss in VNB margin
• Delivered on APE growth, but VNB missed estimate mainly by higher costs
• Higher costs could also be reflected in part in FY25
• Upside to our reduced price target is limited - we move to the sidelines
Source: ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | MORGAN STANLEY ON MCX
• Maintain Underweight with target price of Rs 2,085
• Q4: 20% Core EBITDA Miss; 15% PAT Miss
• Revenue was 8% below our estimate; we await details of the breakdown and drivers
• Costs were higher; point to focus will be understanding recurring costs better
Source: ET NOW
• Q4: 20% Core EBITDA Miss; 15% PAT Miss
• Revenue was 8% below our estimate; we await details of the breakdown and drivers
• Costs were higher; point to focus will be understanding recurring costs better
Source: ET NOW
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex rises over 100 points; Nifty above 22,430
Sensex Today | Stock Market LIVE Updates: Asian shares rise on tech boost; yen on intervention watch
Asian stocks experienced gains on Wednesday, mirroring the positive momentum seen on Wall Street. The surge in shares of electric vehicle maker Tesla during after-hours trading, following its announcement of new models, coupled with encouraging earnings reports from select U.S. companies, bolstered risk sentiment and propelled the broader market upward.
Sensex Today | Stock Market LIVE Updates: Block deal in Delhivery
> 1.97 crore Delhivery shares traded in a block deal in pre-market trade
Sensex Today | Stock Market View: Prashanth Tapse, Senior VP (Research), Mehta Equities
Overnight surge in US markets and subsequent gains in Asian equities are pointing towards a firm opening for both Sensex & Nifty. A fall in global crude oil prices towards $83 a barrel raises hopes of easing tensions in the Middle East. Investors are also hoping for easing of geopolitical tensions, and are also expecting for the continuation of the current regime in the general elections, which has helped markets reverse the falling trend over the past few sessions. This is despite FII selling and also uninspiring Q4 results from Reliance and frontline technology companies. The technical landscape suggests Nifty’s major support at 22200 mark, with interweek support at 22000 and then at 21710 mark.
Sensex Today | Stock Market LIVE Updates: Big movers on D-Street: What should investors do with ABFRL, Tata Consumer and HUL?
Stocks that were in focus included ABFRL, which surged by 9.24%, Tata Consumer, which remained relatively unchanged, and HUL, whose shares rose by 0.96%.
Sensex Today | Stock Market LIVE Updates: Gold edges down as Middle East worries ebb
Gold prices edged lower on Wednesday, as fears of an escalation in the Middle East conflict eased, while investors waited for crucial U.S. economic data that could shed more light on the timing of interest rate cuts.
Sensex Today | Stock Market LIVE Updates: Oil prices inch up after data shows unexpected drop in U.S. crude stocks
Oil prices increased in early trading on Wednesday, building on the gains from the previous session. This rise came in response to industry data revealing an unexpected decline in U.S. crude inventories last week, indicating potentially stronger demand. Moreover, market focus shifted away from tensions in the Middle East, contributing to the positive sentiment surrounding oil prices.
