Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets remained in the firm grip of bears on Tuesday’s opening bell. S&P BSE Sensex opened in red, falling nearly 0.60% to hover around 58,600 levels while the NSE Nifty 50 index fell 100 points or 0.6% to give up 17,600. Bank Nifty was in the red while India VIX soared higher. Broader markets mirrored the fall. TCS was the top gainer on BSE Sensex, up 0.29%, along with Maruti Suzuki India. Larsen & Toubro was down in red, falling 1.1%, followed by Tech Mahindra, and M&M.
Kicking off the earnings season, Tata Consultancy Services (TCS) on Monday reported a strong set of numbers with revenue standing at Rs 50,591 crore, up 3.5% sequentially while net profits came in at Rs 9,926 crore, a quarter-on-quarter increase of 1.6%. The IT major reported an order win of $11.3 billion, significantly higher than the $7.6 billion TCS saw during the October-December quarter. Rajesh Gopinathan, MD & CEO, TCS said that the demand environment continues to be strong with technology spending by clients getting prioritised.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
“Markets are likely to extend the southbound journey in today's trades amid weak global cues as heightened recession fears, hawkish Federal Reserve and a prolonged Russia-Ukraine conflict remain major concerns for investors. Although interest rates have been the market's main driver for months, earnings season will likely steal away traders' attention soon enough. Nifty’s intraday support is seen only at 17601 mark, while the make-or-break medium-term support is seen at 200-DMA at 17141 mark. Below the same, expect a waterfall of selling which could take Nifty down to 16691 mark with inter-month perspective,” said Prashanth Tapse, Vice President (Research), Mehta Equities.
The Indian rupee is expected to depreciate on Tuesday on the back of strong dollar and risk aversion in global markets. Market sentiments are hurt on worries over supply chain disruption due to Covid-19 lockdown in China, escalating geopolitical tensions in Ukraine and major central banks across globe adopting aggressive monetary tightening policy to combat inflation. “Traders will remain vigilant ahead of inflation data from country. However, a sharp fall in rupee may be prevented on softening of crude oil prices. US$INR (April) is expected to trade in a range of 75.90-76.30,” said ICICI Direct. In the previous session the local unit settled almost flat at 75.94 (provisional) against the US dollar as weak domestic equities negated the impact of easing crude oil prices.
Sensex started the day in red, falling below 58,600 levels while NSE Nifty 50 was below 17600, which could open more weakness for Dalal Street.
Sensex was down more than 100 points during the pre-open session while Nifty was down 50 points, hovering just above 17600.
Results today:
Anand Rathi Wealth, GM Breweries, Hathway Cable & Datacom, Tinplate Company of India, Evexia Lifecare, and Gayatri Bioorganics etc.
On the technical front 17,400 and 17,800 are immediate support and resistance in Nifty 50. For Bank Nifty 37200 and 37900 are immediate support and resistance respectively.
~ Mohit Nigam, Head – PMS, Hem Securities
“Nifty can see more weakness below 17600 with support placed at 17500 and 17350. Weekly PCROI is expected to turn oversold around 0.55 levels. Bank Nifty support seen at 37200 and 36800,” said Rahul Sharma, Director & Head – Research, JM Financial.
Indian stock markets have been witnessing consolidation for the last six months after the phenomenal run for nearly two years. The key indices may spend some more time at these levels before resuming the trend, Ajit Mishra, VP-Research, Religare Broking, told Surbhi Jain of FinancialExpress.com. He expects BSE Sensex to test 64,000 and Nifty 50 to touch 19,500 in the current financial year. Mishra said that even as markets are witnessing the signs of revival on the back of easing geopolitical tension and reopening, factors such as the quantum of US Fed rate hikes, higher inflation will continue to keep markets volatile. Read full interview
“Nifty finds support around 17450 while 17900 will act as resistance on the upside. Bank Nifty finds support around 37200 while 38000 will act as resistance.”
~ IIFL
Hathway Cable, Anand Rathi Wealth: BSE-listed companies such as Tinplate Company of India, Hathway Cable & Datacom, Anand Rathi Wealth, GM Breweries, Evexia Lifecare and Gayatri Bio Organics are among the companies that will announce their March quarter results today.
TCS on Monday posted a good set of numbers for the three months to March 2022 in line with Street estimates. Read full story
Petrol and diesel prices were not changed by oil marketing companies (OMC) on April 11, for the sixth day running. Prices were increased by roughly Rs 10 per litre across major cities. Petrol in the National Capital of Delhi currently retails at Rs 105.41 per litre, after last hike of 80 paise that came last Wednesday. Diesel in the city is priced at Rs 96.67. In Mumbai, a litre of petrol and diesel cost Rs 120.51 and Rs 104.77, 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.
“Looking at the market breadth and the sector-specific moves, it seems that the Nifty would continue to witness some consolidation in a broad range in the short term and the stock specific movement would continue to provide better trading opportunities. The immediate supports for Nifty are placed around 17600 and 17500 while 17750 and 17840 will be seen as intraday hurdles,” said Ruchit Jain, Lead Research, 5paisa.com.
Wall Street closed sharply lower on Monday as investors started the holiday-shortened week in a risk-off mood, as rising bond yields weighed on market-leading growth stocks ahead of crucial inflation data.
Attrition at Tata Consultancy Services (TCS) continued to remain high at 17.4% in the quarter ended March 31, 2022 — a rise of 210 basis points sequentially. However, the good news is that the incremental attrition has moderated, the company management said on Monday.
SGX Nifty was down more than 150 points on Tuesday morning, hinting at a weak start to Dalal Street.
Tata Consultancy Services (TCS) on Monday posted a good set of numbers for the three months to March 2022 in line with Street estimates. The highlight of the quarter was an order win of $11.3 billion, a near-50% jump over the $7.6 billion seen in the December 2021 quarter.
