Business News›Traders' Guide: Nifty has downside support at 14,700 and 14,600 levels
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Traders' Guide: Nifty has downside support at 14,700 and 14,600 levels
05 Apr, 2021 | 07:37:01 AM IST
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Unlisted companies attract 97% of FDI in FY20
India attracted a total of Rs 7.06 lakh crore foreign direct investment in FY20. As many as 24,580 firms have raised equity from foreign investors.
Global equities could receive April boost after a pause in rally
"April tends to be a strong month for risk assets, with monthly returns statistically significant across major markets, said Andrew Sheets, a strategist at Morgan Stanley, adding that higher dividend payments could be a reason behind this rise in shares in the month.
Oil rises as OPEC+ decides on production policy
Brent crude rose 42 cents, or 0.7%, to $63.16 a barrel by 11:45 a.m. EST (1645 GMT). US oil was up 59 cents, or 1%, at $59.75 a barrel.
OPEC+ agrees on gradually easing oil output cuts from May
Two sources had said earlier that OPEC+ was considering increasing output by 350,000 barrels per day in May, 350,000 bpd in June and 400,000 bpd in July.
Brookfield India REIT well-poised to benefit from market recovery: JM Financial
Brookfield India REIT offers a compelling value proposition with a global parentage of Brookfield Group and a stable portfolio of 75% of the rentals from MNCs with committed same store occupancy of 91% as of February 2021.
Foreign investors make $15 billion out of their India investments in Q3
Foreign investors took back home $15.07 billion as investment income during October-December'20 compared to $12.2 billion in the same period a year ago.
Mizuho may face $90 mn loss from Archegos: Nikkei
The Financial Times earlier reported that Mizuho had conducted an investigation into its possible losses related to the U.S.-based fund, and its potential losses could be similar to those of the brokerage arm of Mitsubishi UFJ Financial Group Inc.
Big spending makes financial markets matter less
There were four distinct financial market shocks that happened in the first quarter that could have created negative spillover in financial markets and the real economy, yet none of them did.
Market Watch: Value buying making banking stocks attractive?
Tune in as we discuss what's behind bank stocks rally, what to expect from earnings season, and more!
Average daily turnover on commodity exchanges fall 25% YoY
CPAI has sought Union Finance Minister Nirmala Sitharaman’s intervention so that the ADT at the commodity exchanges can go up.
Nasdaq opens higher on tech strength; Micron shines
The Dow Jones Industrial Average rose 50.0 points, or 0.15%, at the open to 33,032.24. The S&P 500 rose 27.9 points, or 0.69%, at the open to 4,000.25, while the Nasdaq Composite rose 198.5 points, or 1.50%, to 13,445.04 at the opening bell.
Tech View: Don't read too much into the moving averages; Nifty showing strength
Chandan Taparia of Motilal Oswal Securities said Thursday's bullish candle was healthy. He said the index has formed higher lows in last two sessions and managed to hold above the 50-day exponential moving average (EMA).
F&O: Nifty forms higher highs, crosses recent swing high in hope for the bulls
Nifty has to hold above 14,800 level to witness a bounce towards 15,000 and 15,100 levels, while on the downside support exists at 14,700 and 14,600 levels.
Can buy the dips strategy work for gold investors?
Some reversals could be seen at important support zones, which could be taken as a buying opportunity to accumulate for a medium-term perspective.
Only dynamic asset allocation can save investors: S Naren
"I believe that the current cycle resembles the 2002-2008 cycle where commodities did well and while the commodity user industry did not do that well, they did not give bad absolute returns. But overall, when the commodity industry does well, the economy somehow does well. During 2002-2008, oil went up but the economy also did pretty well. And this baffles me," says S Naren, CIO, ICICI Prudential AMC.
2 stocks that could prove to be dark horses in IT sector
Large cap tech stocks should be part of the core holdings of any portfolio with the investment horizon of maybe two to three years, says the Director, Elixir Equities
This is how the 30-pack Sensex moved in today's session. It touched a high of 50,092.48 and a low of 49,478.53 to finally settle at 50,029.83
CLOSING BELL: Sensex reclaims 50K, jumps 521 points on bank, IT stocks; Nifty above 14,850; NIIT soars 20%, AstraZeneca 15%
- Banks, Infy and RIL lead the market rally
- 25 of 30 Sensex stocks end the day in the green
- Index contributors: ICICI Bank, Kotak Bank, Infosys, RIL, HDFC
- Top Index gainers: IndusInd Bank (4.34%), Kotak Bank (2.88%), ICICI Bank (2.37%)
- Top Index losers: HUL (1.29%), Nestle (0.84%), HDFC Bank (0.47%)
- All BSE sectoral indices except FMCG and consumer durables end the day in the green
- S&P BSE METAL biggest sectoral gainer, up 5.41%
- S&P BSE Fast Moving Consumer Goods biggest sectoral loser, down 0.06%
- Volume toppers: SBI, HDFC Bank, RIL, ICICI Bank, HDFC
Recovery from the support level of around 14,700 (Nifty50) is positive from a short-term perspective... The index is expected to gain momentum to increase the odds of fresh breakouts above 14,900, leading to an upside projection till the 15,300 levels. Momentum indicators like RSI and MACD support the upside move indicating that the potential of a fresh breakout is exceptionally high.
- Ashis Biswas, CapitalVia Global Research
Broader markets outperform headline peers
- S&P BSE Midcap up 1.47%
- S&P BSE Smallcap up 1.71%
The broadest gauge on BSE -- the BSE 500 index -- traded 1.19% higher in late afternoon deals, higher than the S&P BSE Sensex's 0.93% gain.
Sun Pharma, India Cements, 75 other stocks send out buy signal, suggests MACD
Hikal, Jain Irrigation, Usha Martin, NHPC, Caplin Point, SJVN, SRF and Mastekl looked strong on the momentum indicator.
Most bank stocks jump; HDFC Bank bucks trend
Nifty Bank rises 1.53%, Nifty PSU Bank 2.23%, Nifty Private Bank 1.75%
Nifty Metal index surges 5%, leads NSE sectoral gauges
Price as on 02:55:00 PM 02:55 PM, Click on company names for their live prices.
IndusInd Bank, Kotak Mahindra Bank, Bajaj Auto, HCL Tech, Axis Bank, RIL top Sensex gainers
On the other hand, HUL, Nestle, TCS and HDFC Bank, down between 0.21% and 0.79%, were the only laggards in the 30-scrip benchmark index.
BREAKING | Sensex surges over 500 points to cross 50,000, Nifty tops 14,850
Here are the top gainers in the tourism and hospitality space
Price as on 02:46:50 PM 02:46 PM, Click on company names for their live prices.
Airtel Africa mobile money biz gets $100 million infusion from Mastercard
Price as on 02:05:08 PM 02:05 PM, Click on company names for their live prices.
Nifty Auto index up 1%. Here's how auto stocks fared
Price as on 01:55:25 PM 01:55 PM, Click on company names for their live prices.
Fear gauge VIX eases 2%
NSE's India VIX index -- which measures the expectation of volatility in the near term -- was down 2.21% at 20.19 in afternoon deals. It had slid to as low as 19.73 earlier during the session.
RIL, Infosys, Kotak Mahindra Bank top boosts for Sensex
On the other hand, selling pressure in HDFC Bank and HUL limited the upside in the 30-scrip benchmark index.
Mahindra reports sale of 40,403 units in March
Mahindra & Mahindra (M&M) on Thursday said it has sold a total of 40,403 units in March. The company had dispatched 6,679 units in March 2020 amid sales disruptions due to COVID-19 pandemic. The Mumbai-based automaker sold 16,700 passenger vehicles last month in the domestic market. It had dispatched 3,383 units in March 2020.
PFC pays interim dividend of Rs 1,182.63 cr to govt for 2020-21
State-run Power Finance Corporation (PFC) has paid an interim dividend of Rs 1,182.63 crore to the government for financial year 2020-21. "Power Finance Corporation has paid an interim dividend of Rs 1,182.63 crore to government of India for the financial year 2020-21 on March 31st, 2021 on 1,47,82,91,778 number of equity shares (56 per cent) held by the government," a PFC statement said.
The market could not maintain higher levels and took support near 14,700, after a gap-up opening following global peers. We can expect Nifty to trade in the zone of 14,500-14,900. After a breakout above 14,900, we can expect the market to show some positive momentum and trade till the levels of 15,200
- Likhita Chepa, CapitalVia Global Research
Tata Consumer Products to divest stake in US-based Empirical Group, Southern Tea
Tata Consumer Products Ltd (TCPL) on Thursday announced exit from its two US-based joint ventures by selling its stake to the JV partner Harris Tea Company LLC. TCPL's step-down subsidiaries in the USA have decided to divest their entire membership interest in Empirical Group LLC and Southern Tea LLC to the JV partner Harris Tea Company LLC, USA (Harris Tea), the company informed in a regulatory filing.
Maruti Suzuki reports sale of 1,67,014 units in March
The country's largest carmaker Maruti Suzuki India (MSI) on Thursday reported total sales of 1,67,014 units in March. The company had sold 83,792 units in March last year amid nationwide lockdown due to the coronavirus pandemic.
PSU banks rally; IOB, Central Bank up 5%
Price as on 12:02:43 PM 12:02 PM, Click on company names for their live prices.
Macrotech’s Rs 2,500 crore IPO to open April 7
Realty major Macrotech Developers, erstwhile Lodha Developers, will open its proposed Rs 2,500 crore Initial Public Offering of equity shares on April 7 and close on April 9. The country’s largest property developer has set a price band for the offer at Rs 483 - Rs. 486 per equity share. Minimum Bid Lot is 30 equity shares and in multiples of 30 equity shares thereafter, the company said in a release.
NSE reduces market lot size for Nifty 50 derivative contracts
The National Stock Exchange (NSE) has slashed the market lot size for derivative contracts on Nifty 50, a move that will reduce the burden of excessive upfront margins for retail traders. The lot size has been reduced to 50 from the existing 75, NSE said in a circular on Wednesday.
While the Covid second wave is a cause of worry, its economic impact appears to be insignificant now. In April, the market is likely to be influenced by Q4 results. IT, leading financials, cement, metal, pharma, leading telecom companies and some FMCG firms are likely to report very good results. The market will discount these earnings in advance.
- VK Vijayakumar, Geojit Financial Services
Steel stocks rally
Price as on 11:17:06 AM 11:17 AM, Click on company names for their live prices.
Will March auto sales numbers surprise? Here’s what to expect
Last year’s low base will distort monthly auto sales figures for March on a year-on-year basis, while growth in wholesale numbers is expected to remain strong on a month-on month basis, and retail volumes are also expected to be better than February’s, analysts said after channel checks.
Geojit initiates coverage on Narayana Health, Power Mech
Geojit Financial Services said it has initiated coverage on Narayana Health and Power Mech Projects.
- Buy Narayana Health | Target: Rs 517 (12M) | Return: 28%
- Buy Power Mech Projects | Target: Rs 727 (12M) | 24%
Nifty PSU Bank index jumps 1.24%, Nifty Bank up 0.30% as state-run lenders spike
Price as on 10:29:21 AM 10:29 AM, Click on company names for their live prices.
Buy GAIL, Bharat Petroleum: Motilal Oswal
Here are two trading calls from the brokerage:
- Buy GAIL, target Rs 170
- Buy BPCL, target Rs 520
IT, oil & gas, auto stocks top Nifty50 movers
Infosys, Reliance Industries, HCL Tech, HDFC top boosts for Sensex
OPENING BELL | Sensex rises 350 points, Nifty near 14,800
IOB rallies 7%, NIIT 7%
Pre-open session: Sensex gains 270 points, Nifty nears 14,750
