Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets saw profit-booking on Tuesday as benchmark indices closed lower. S&P BSE Sensex was down 435 points or 0.72% at 60,176 while the Nifty 50 index closed 96 points or 0.53% lower at 17,957. Bank Nifty closed in red while broader markets were in the green on the closing bell. India VIX regained 18 levels and it added 3.24%. NTPC was the top stock gainer, up 3.4%, followed by Power Grid corporation, ITC, and Titan. HDFC Bank was the top laggard, falling 2.98%, accompanied by Bajaj Finserv, and HDFC.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Domestic headline indices saw some profit booking on Tuesday, a day after rallying sharply. S&P BSE Sensex was down 435 points or 0.72% at 60,176 while the Nifty 50 index closed 96 points or 0.53% lower at 17,957. NTPC was the top gaining stock on the BSE Sensex, up 3.4%, followed by Power Grid corporation, ITC, and Titan. HDFC Bank was the top laggard, falling 2.98%, accompanied by Bajaj Finserv, and HDFC. The Bank Nifty index was down in red while broader markets were in the green on the closing bell. India VIX regained 18 levels, zooming 3.24%.
Sensex and Nifty witnessed profitbooking on Tuesday and closed the day with losses. Sensex ended 0.72% lower at 60,176 while the Nifty 50 index closed 0.53% in red at 17,957.
Nifty 50 slipped below 18000 mark, falling 0.65% just ahead of the closing bell. Nifty 50 hit an intraday low of 17935.
Bank Nifty index was down 1.36% on Tuesday morning, falling more than 500 points. HDFC Bank, IndusInd Bank, ICICI Bank, SBI, and Axis Bank were in the red.
Zomato share price fell as much as 4.7 per cent to Rs 82.15 apiece on BSE in intraday deals on Tuesday, after the Competition Commission of India (CCI) initiated investigation on its and Swiggy’s business practices. Zomato stock has been underperforming headline indices for the last three months. On-year to date basis, it has tumbled 41 per cent, as compared to a rise of 2 per cent in BSE Sensex, and 2.09 per cent in NSE Nifty 50. Read full story
SBI Cards shares shed 4 per cent on the BSE amid reports of private equity firm Carlyle Group selling its entire stake in the company for as much as Rs 2,558 crore.
On the sectoral front, auto, capital goods, FMCG, power indices up 1-2 per cent. BSE midcap and smallcap indices up 1 per cent each.
“Technically, the Nifty has reached closer to the trendline resistance and a decisive close above 18,150 would pave for a further surge towards the 18,350-18,600 zone. In case of a decline, 17,600 & 17,200 zone would act as crucial supports. Considering the trend, we advise continuing with a positive bias and focusing on a stock-specific trading approach.”
~Religare Broking
TCS shares gained 2% to hit 10-week high on Tueaday. The stock neared all-time high. On March 31, 2022, the information technology (IT) bellwether announced that the board of directors of the company would meet on Monday, April 11, 2022 to consider financial results for the quarter and full year ending March 31, 2022.
Ujjivan Small Finance Bank was quoting at Rs 18.87, up Rs 0.88, or 4.89 percent. Ujjivan Small Finance Bank’s highest ever disbursement for Q4FY22, grew 14.0% on-year to Rs 4,870 crore, while advances reached yet another milestone, grew 20.0% to Rs 18,162 crore, company said in its press release.
The Nifty Midcap 50 index has rallied 14% in the last one month, erasing almost all year to date losses as the bulls returned to the midcap space. The Midcap 50 index is currently sitting above 8400 levels. Analysts at Prabhudas Lilladher believe the index has more room to climb with a target of 8600 and support at 7940. “The presence of rising demand and rising momentum inside a strong uptrend increases the probability of the index moving up. The target is around 8600. The cross below 7940 will negate the expectations of 8600 target,” they said. To benefit from the uptrend, analysts have picked 7 midcap stocks that they believe will benefit and have strong formation on the charts.
Benchmark indices were trading lower with Nifty around 18000 with selling seen in the banking and realty names. The Sensex was down 224.99 points or 0.37% at 60386.75, and the Nifty was down 43.10 points or 0.24% at 18010.30.
Nazara Pte. Ltd. a wholly owned subsidiary of Nazara Technologies Limited announced their investment in US Based Game Fund BITKRAFT Ventures. Nazara will invest USD 2.5 million in BITKRAFT Ventures out of which USD 0.875 million will be invested upfront, while the balance investment amount of USD 1.625 million will be deployed over a period of three years. The stock was trading at Rs 1,718.50, up Rs 43.15, or 2.58 percent. It has touched an intraday high of Rs 1,721 and an intraday low of Rs 1,663.
The initial public offering (IPO) of Hariom Pipe Industries was subscribed 4.15 times on the April 5, the final day of bidding. The public issue received bids for 3.52 crore equity shares as against 85 lakh units on offer. The issue, which kicked off for subscription on March 30, will close today. The IPO received strong response from retail investors. The entire portion reserved for them was subscribed 8.46 times. On the other hand, the portion for Qualified institutional buyers was subscribed 93 times and that of non-institutional investors was subscribed 2.59 times.
Titan was the top gaining stock on Sensex, up 2.3%, followed by NTPC, TCS, and Nestle India.
HDFC Ltd and HDFC Bank shares fell in red on Tuesday morning, after having soared nearly 9% each earlier on Monday. While the merger between the HDFC twins has been much talked about and praised, some investors do see challenges in the near term, even as the future potential is still not ruled out. On Tuesday morning, HDFC Bank was the top laggard on Sensex, down 2.68% at Rs 1,612 per share; while HDFC was down 1.6% at Rs 2,636 per share.
Shares of Zomato plunged to Rs 82.15 on the BSE on the back of heavy volume following reports that the competition Commission (CCI) ordered a detailed probe against food delivery platforms, Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners. The stock of food delivery company had hit a record low of Rs 75.55 on March 16, 2022. The stock had registered a record high of Rs 169.10 on November 16, 2021.
“Investors should spread out their investments over a few months so that their entry price gets averaged. Some sectors which we like are Metals, Hospitals, Hospitality, Oil Refining, Capital Goods, and good Private Sector Banks.”
~Nishit Master, Portfolio Manager, Axis Securities
Indian rupee opened flat at 75.53 per dollar on Tuesday against Monday's close of 75.54. The local units is expected to continue its positive bias amid a rise in risk appetite in global markets. Further, FII inflows into local stocks will support the rupee. However, sharp gains may be capped on rise in crude oil prices and strong dollar, said ICICI Direct.
“Financial majors HDFC Bank and HDFC announced a merger proposal, which would create a massive banking company in India, and Indian markets closed substantially higher on Monday. Following largely favorable global indications, the markets have opened with no major gains but are expected to extend their previous session's advance today. Traders should note that, despite increased worldwide market rates owing to the Russia-Ukraine conflict, the government is dedicated to supplying fertilizers at affordable prices to farmers with needed subsidies, according to a report. However, rising petrol and diesel prices may dent sentiments in markets. The US markets ended higher on Monday led by tech shares, Asian markets are trading mixed on Tuesday.”
~Likhita Chepa, Senior Research Analyst, Capitalvia Global Research
SBI Card shares declined over 3% after a block deal wherein over 3 crore shares changed hands.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading lower in India on Tuesday, on the back of weakness in international rates. On Multi Commodity Exchange, gold June futures were ruling at Rs 51,498 per 10 grams, as against the previous close of Rs 51,533. Silver May futures were trading at Rs 66,206 per kg, down Rs 89 or 0.13 per cent. Read full story
Nifty Auto, Pharma, and Consumer Durbales were the leading gainers, up to 1 per cent higher. Nifty Bank and Financials, meanwhile, were the only weak performers.
In the BSE Sensex pack, 16 of 30 index stocks were in the green in opening deals, with M&M as best performer. NTPC, Powergrid, Sun Pharma, Maruti Suzuki and TCS were the top gainers. On the flipside, Bajaj Finance, HDFC, HDFC Bank, IndusInd Bank, Ultratech Cement, Kotak Bank and SBI were the laggards.
Benchmark indices opened on a flat note amid mixed global cues. While BSE Sensex was down 20.30 points or 0.03% at 60591.44, NSE Nifty 50 was up 4.90 points or 0.03% at 18058.30. Nifty Bank fell 240 points or 0.62% to 38,395. 16 out of 30 Sensex stocks opened in green. Adani Ports, NTPC, ONGC, Tata Motors and M&M were among major gainers on the Nifty, while losers were HDFC, Bajaj Finance, HDFC Bank, Kotak Mahindra Bank and UltraTech Cement.
“Benchmark Indices are expected to open on a positive note as trends on SGX nifty indicates a gap up opening with 89 points gain. Asian Markets were trading mixed in the morning session on Tuesday. Wall Street's main indexes rose on Monday, boosted by mega cap tech and growth stocks and a surge in Twitter after Elon Musk revealed his stake in the company, amid cautionary signals in the bond market and talk of more sanctions against Russia over Ukraine. Also, Oil rises as uncertainty around supply persists. Morgan Stanley says that the big positive news for Indian markets is that “Bear Market rally” is over. Crucial support for Nifty 50 is 17,800 while Nifty may face some resistance at 18,400.
~Mohit Nigam, Head – PMS, Hem Securities
Benchmark indices are trading slightly higher in the pre-opening session. The Sensex is up 248.83 points or 0.41% at 60860.57, and the Nifty is up 5.90 points or 0.03% at 18059.30.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were hiked once again by oil marketing companies (OMC) on April 5 — the 13th hike in 15 days. So far prices have increased by roughly Rs 9.20 per litre across major cities. Petrol in the National Capital of Delhi currently retails at Rs 104.61 per litre while diesel in the city is priced at Rs 95.87. In Mumbai, a litre of petrol and diesel cost Rs 119.67 and Rs 103.92, respectively. Pieces were hiked for the first time in 4 months, 15 days ago. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international prices and foreign exchange rates.
“The surprise news of the HDFC Bank-HDFC merger has boosted the sentiment amid mixed global cues and we may see the rub-off in the following session as well. The recent buoyancy in the banking pack is further adding to the confirmation. On the index front, a decisive close above 18,150 in Nifty would further fuel the rally towards 18,350. In case of any dip, the 17,800 zones would now act as support. Participants should align their positions accordingly and focus more on stock selection.”
~Ajit Mishra, VP – Research, Religare Broking
India’s trade deficit rose 87.5 percent to $192.41 billion in 2021-22 as against $ 102.63 billion in the previous year, the government data showed on Monday. While total exports during last fiscal year increased to a record high of $417.81 billion, imports too soared to $610.22 billion, leaving a trade gap of $192.41 billion.
“India’s merchandise import in April 2021-March 2022 was $610.22 billion, an increase of 54.71 percent over $394.44 billion in April 2020-March 2021 and an increase of 28.55 percent over $474.71 billion in April 2019-March 2020,” said a release by Ministry of Commerce and Industry.
“The Nifty is now back above the psychological mark of 18000 and banking was the major charioteer of the move. Now, January’s high of 18350 is not so far away, and considering the ongoing momentum, we advise traders to use intra-week decline to add longs. As far as supports are concerned, 17850 – 17800 is likely to provide an immediate cushion; whereas on the flip side, 18200 – 18350 are the levels to watch out for.”
~Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One
HDFC, HDFC Bank: Macquarie Capital Securities (India) said HDFC Bank will have an excess SLR/CRR asset requirement of Rs 70,000-80,000 crore.
Zomato: In a setback for online food delivery platforms Zomato and Swiggy, the Competition Commission of India (CCI) on Monday ordered a probe into their business practices. Read full story
“Currently sentiments are upbeat given strong economic data points including highest GST collection, robust port handling, record high exports, etc. This week RBI’s policy meet is due which would drive the market and thus banking stocks are likely to remain in lime light. Q4 results announcement would also kick start with IT companies which would be tracked closely by investors. India VIX is down to 18 zones and has been shredding from higher zones which is giving comfort to the bulls. Now Nifty has to hold above 17700 zones, for an up move towards 18350 zones.”
~ Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
Nifty finds support around 17800, while 18400 will act as resistance on the upside. Bank Nifty finds support around 38200 while 39200 will act as resistance.
~IIFL Securities
In the first half of this financial year, volatility will continue to remain high. Monday's market movement was on the back of the HDFC Bank and HDFC Ltd merger which took the entire financial space, and the market higher. This volatility is expected to go down in the second half of the current financial year, once the trajectory of inflation and interest rate gets clearer.
~Nishit Master, Portfolio Manager, Axis Securities
Oil futures rose in early trading on Tuesday as the potential for more sanctions following alleged war crimes by Russian troops in Ukraine added to concerns about supply disruptions, while Iran nuclear talks stalled. Brent crude futures were up $1.58, or 1.5%, to $109.11 a barrel, while U.S. West Texas Intermediate futures were up $1.61, or 1.6%, to $104.89 a barrel. Both contracts briefly jumped more than $2 a barrel after Japanese industry minister Koichi Hagiuda said the International Energy Agency (IEA) was still working out details for a planned second round of a coordinated oil releases.
Wall Street's three major equity indexes rose about 1% on the average on Monday with shares of Twitter, particularly, outperforming on news that flamboyant tech-entrepreneur and influencer Elon Musk had become the largest shareholder in the microblogging site. The Nasdaq Composite closed up 271 points, or 1.9%, at 14,533. The S&P500 finished up 38 points, or 0.8%, at 4,584. The Dow Jones Industrial Average settled up 104 points, or 0.3%, at 34,922.
Markets in Asia rose in early morning trade as investors look ahead to the Reserve Bank of Australia’s latest rate decision. Japan's Nikkei 225 gained 0.4%, while South Korea’s Kospi edged 0.12% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.11% higher. Markets in Hong Kong and mainland China are closed for a holiday.
Nifty futures on the Singapore Exchange traded 90 points, or 0.5 per cent, higher at 18,187, signaling that Dalal Street was headed for a positive start.
