The Indian equity indices ended on flat note in yet another volatile session on April 21, with the BSE Sensex rising 22.71 points or 0.04 percent to end at 59,655.06, while the Nifty was down 0.40 points at 17,624.
Despite weak global cues, the market opened marginally higher but wiped-out the gains and consolidated in a narrow range. However, it witnessed extended selling in the second half, but erased the losses to close on flat note.
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Stocks and Sectors
TCS, ITC, Britannia Industries, Wipro and Asian Paints were among the major gainers on the Nifty, while losers were HDFC Life, Tech Mahindra, Adani Enterprises, SBI Life Insurance and Maruti Suzuki.
Among sectors, realty index down 2 percent, while auto and metal indices down 1 percent each.
The BSE midcap and smallcap indices ended marginally lower.
Zydus Lifesciences, Cyient, Bajaj Auto, ITC, NCC, Dalmia Bharat, SAKSOFT, Glenmark Pharmaceuticals, Godrej Consumer Products, Kamat Hotels, Marksans Pharma, touched their 52-week highs on the BSE.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 59,655.06 | 22.71 | +0.04% |
| Nifty 50 | 17,624.05 | -0.40 | 0.00% |
| Nifty Bank | 42,118.00 | -151.50 | -0.36% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| 408.25 | 7.95 | +1.99% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| HDFC Life | 513.30 | -16.95 | -3.20% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty FMCG | 46669.70 | 413.60 | +0.89% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Metal | 5677.90 | -79.05 | -1.37% |
A short buildup was seen in Oberoi Realty, Indiamart Intermesh and Dalmia Bharat, while a long build-up was seen in Vodafone Idea, Aarti Industries and TCS.
Among individual stocks, a volume spike of more than 400 percent was seen in Vodafone Idea, Oberoi Realty and UPL.
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Outlook for April 24
Rupak De, Senior Technical Analyst at LKP Securities
The Nifty continues to witness a time correction as the benchmark index remained mostly range-bound before closing flat. After correcting from the recent high of 17,863, Nifty has been consolidating around the 200-day moving average for the last three days. So far, the bulls have been able to hold the Nifty above the long-term average of 200 DMA, which is considered the line of polarity for long-term investment.
A fall below 200 DMA, currently pegged at 17,605, might trigger a panic button. Below 17,600, the Nifty may slip towards 17,400. On the higher end, a resistance is placed at 17,700, above which the index may move towards 18,000.
Ajit Mishra, VP - Technical Research, Religare Broking
Markets remained in a consolidation mood and ended almost unchanged, in absence of any major trigger. After the flat start, Nifty drifted gradually lower. However, recovery in select heavyweights in the latter half pared all the losses. Consequently, it managed to hold 17,600+ for yet another session.
Meanwhile, a mixed trend across sectors kept the traders busy wherein FMCG and IT ended higher while realty, metal and auto traded under pressure.
Participants will react to Reliance and ICICI Bank numbers in early trades on Monday and that might provide the needed trigger. Needless to say, it’s critical for Nifty to hold the 17,400-17,500 zone to maintain the positive bias otherwise the recovery would derail.
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