Share Market HIGHLIGHTS: Nifty as flat as it can get, Sensex up 23 pts; Reliance inches higher ahead of Q4 results
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex gave up initial gains in a volatile session on Friday, tracking weakness across global markets amid fading optimism about the earnings season after disappointing numbers from Tesla and AT&T amid persistent concerns about the prospect of more of hikes in benchmark interest rates. Catch minute-by-minute updates of all the action in the Indian share market on April 21, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and much more only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex gave up initial gains in a volatile session on Friday, tracking amid weakness across global markets following disappointing quarterly results from Tesla and AT&T as persistent concerns about more of hikes in benchmark interest rates continue to affect investor sentiment. HCL Tech shares rose, a day after the IT company reported a better-than-expected quarterly net profit and announced a 900 per cent dividend. Investors await more of corporate earnings from India Inc for domestic cues, with Reliance Industries (RIL) all set to report its numbers post-market hours on Thursday.
Catch minute-by-minute updates of all the action in the Indian share market on April 21, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Share Market Update | Nifty 50 as flat as it can get at 17,624, Sensex ends choppy day with gain of 23 pts
The Nifty 50 finishes the day up 0.4 point at 17,624.1, after broadly moving within the 17,550-17,700 band during the session.
The Sensex ends with a gain of 22.7 points at 59,655.1, having gyrated in a range of 368.6 points — between 59,412.8 and 59,781.4 — around the flatline in intraday trade.
Here's how the main gauges moved through the day:
Nifty 50
Read more on the April 21 session in the Indian share market
LIC shares near 52-week low
The strong performance of private insurance companies as compared to Life Insurance Corporation of India (LIC) in March, has sent the stock of the state-run insurance behemoth to trade near a 52-week low.
Minutes before market close, LIC shares were down nearly 1 per cent to Rs 547.5 per share on the BSE during Friday’s session. The counter had hit Rs 530.2 per share a 52-week low earlier on March 29, 2023, on the BSE.
Why has LIC's new business premium declined? Zee Business’ senior research analyst Kushal Gupta explains.
PNC Infratech stock rises
PNC Infratech received a Letter of Acceptance from Road Ministry for a project worth Rs 819 crore. The stock witnessed a steep rise on the chart immediately after the regulatory filing.
PNC Infratech share price has hit a day’s high at Rs 284 per share, up Rs 7 or 2.53 per cent from Thursday’s closing of Rs 277 per share on the BSE today.
Metal and Realty stocks drag market
Metal and Realty stocks are the major reason for the volatile markets today as both indices cracked most during Friday’s session. Nifty Metal was down over 1 per cent, while Nifty Realty dipped by around 2 per cent today.
Besides, Banking and Financial Services sectoral indices were also in the red.
On the contrary, Nifty IT, FMCG, Pharma, and Media are aiding the benchmark indices from further fall today.
Heatmap: An hour before closing
Heavyweights such as ITC, TCS, Wipro, Asian Paints, and HCL Tech among others are in green, while Tech Mahindra, Maruti Suzuki, Tata Steel, and UltraTech Cement among other shares in the Sensex basket were in the red during the last day of this week’s trading.
ICICI Pru under pressure despite strong Q4 show
ICICI Prudential Life shares tumbled as much as four per cent to hit the day’s low of Rs 438.85 per share on the BSE during Friday’s session.
The stock declined despite registering strong earnings for the January-March quarter of the previous fiscal. Read More
The private insurer on Thursday reported a 27.2 per cent jump in net income at Rs 235 crore for the March quarter as it earned near a record margin from the new policies sold.
ITC reclaims Rs 5-trn m-cap
ITC pips HDFC to become the seventh largest firm by market capitalization as the cigarette-to-hotel conglomerate reclaimed the Rs 5 trillion market cap on Friday.
ITC shares jumped more than 1.5 per cent to hit a fresh all-time high of Rs 407.6 per share on the BSE during Friday’s trade.
Share Market Tips LIVE | Buy ITC shares at 398-399 for short term targets of Rs 425-430, says Rakesh Bansal
Market expert Rakesh Bansal is bullish on ITC shares with a long-term target of Rs 700-odd levels. "After some consolidation, the stock is in unchartered territory with a good technical structure," he tells Zee Business.
He recommends buying ITC shares at levels to the tune of Rs 398-399 for targets of Rs 425 and Rs 430 in the short term.
Share Market Today LIVE | ITC shares scale another peak, touch Rs 407.6 level for first time ever
The cigarettes-to-hotels conglomerate's stock has scaled a series of unprecedented levels in the recent past. Today, it surpassed its all-time high of Rs 402.6, touched on Thursday.
ITC shares have risen almost eight per cent in the past one month alone, a period in which the Nfity has gained three per cent.
Buzzing and Falling Stocks
In an otherwise volatile market today, stocks such as Nazara Tech, Cyient, Vodafone, and BLS International among others are among the buzzing shares, while ICICI Pru Life, Sterling and Wilson, Oberoi Realty, LIC, and others are falling in the weak session on Friday.
RIL Q4 Results Today | Reliance shares flat ahead of earnings announcement post-market hours
The stock of the oil-to-telecom conglomerate is down by Re 1.8 at Rs 2,344 apiece on BSE. The group is all set to report its financial results later in the day.
Reliance, Jio Q4 results today; what to expect from oil-to-telecom conglomerate
Reliance Industries Ltd (RIL) is all set to report its financial results for the January-March 2023 period today. According to Zee Business research, the conglomerate is estimated to report a 0.2 per cent decline in its consolidated revenue to Rs 2,16,700 crore for the quarter compared with the three months to December 2022. The analysts peg Reliance Industries' quarterly profit at Rs 17,500 crore, which translates to an increase of 10.8 per cent on a sequential basis.
PVR becomes PVR INOX as name change takes effect
The change in name after a scheme of amalgamation between INOX Leisure and PVR has come into effect. According to a regulatory filing, PVR Limited will now be PVR INOX Limited.
The process for reflecting the change of name on the stock exchanges will be followed in due course of time, it adds.
PVR shares are down 1.6 per cent at Rs 1,485.7 apiece on the bourse at this hour.
Share Market Today LIVE | Sensex takes day's losses to 200 pts; ICICI Bank, L&T, HDFC Bank, Axis Bank, Tata Steel top drags
Images: BSE
Nazara Tech shares zoom after ICICI Pru MF raises stake in gaming company
Diversified gaming and sports media platform Nazara Technologies' shares soar after the news that ICICI Pru MF has raised its stake in the company to 5.11 per cent from 4.91 per cent. At the current market price, Nazara Tech shares are available at a discount of nearly 63 per cent from their life-high level of Rs 1,601 apiece (October 2021).
Nazara Tech shares made a bumper secondary market debut in March 2021.
Gold Price on Akshaya Tritiya | Gold hovers near Rs 60,000/10 grams level; should you buy?
According to Neha Qureshi of Anand Rathi Commodities & Currencies, after some consolidation at lower levels, spot gold has recovered to levels above $2,000 an ounce despite hawkish commentaries from Fed officials as the market seems to have priced in a 25-basis-point hike in the key US interest rate rate on May 3.
Read more on gold rate, Akshaya Tritiya
HCL Tech fares better than peers in Q4 but what lies ahead?
IDBI Capital expects HCL Tech to be at the lower end of the guidance. The brokerage expects ramp-downs in projects, delays in renewals and lower discretionary spending to further impact revenue growth for HCL Tech.
IDBI Capital reduced its EPS estimates for HCL Tech by 1.7 per cent and 1.6 per cent for the two financial years ending March 2024. It has a 'hold' rating on the stock with a target price of Rs 1,010.
Share Market Today LIVE | HCL Tech shares rise after better-than-expected Q4 profit, dividend announcement; here's what Anil Singhvi says
Share Market Today LIVE | Broader indices under pressure
Broader markets give up to selling pressure. The Nifty Midcap 100 and the Nifty Smallcap 100 each slide half a per cent below the flatline less than 45 minutes into the opening bell.
Overall market breadth is skewed in favour of the bears, as some 1,450 shares hold on to the green on BSE against 1,850-odd stocks in the red on BSE.
Share Market Today LIVE | Nifty 50, Sensex open mixed
Both headline indices make a mixed start to the day. The Sensex is down 93.6 points or 0.2 per cent at 59,538.8 at the opening tick, and the Nifty 50 at 17,639.8, up 15.3 points or almost 0.1 per cent from its previous close.
Share Market Today LIVE | Take a look at top movers and shakers in Nifty 50 at this hour
Here's what the heatmap (by weight) in the 50-scrip pack looks like:
Image: NSE
Sensex LIVE | Larsen & Toubro, Tata Steel, HDFC Bank, Tata Motors pose maximum pressure on 30-scrip index; ITC, TCS, Asian Paints lend support
Here's a look at the top movers and shakers in the Sensex basket:
Image: BSE
Share Market Today LIVE | Nifty 50, Sensex slide into the red amid weakness in heavyweights HDFC Bank, L&T, Tata Steel, Tech Mahindra
As Dalal Street reverses course, the Sensex declines almost 250 points from its strongest level of the day so far.
Image: BSE
The Nifty 50 cracks below the 17,600 mark, having tested 17,650-odd levels in early deals.
Image: NSE
Gold Rate Today | Yellow metal futures edge lower, still within Rs 1,000 of all-time high
MCX gold futures (June 5 expiry) are down by Rs 83 or 0.1 per cent at Rs 60,420 per 10 grams at this hour, not far from an all-time high of Rs 61,371, touched this month.
Image: MCX
Share Market Today LIVE | Sensex gains over 100 pts, Nifty tests 17,650
Headline indices register mild gains within the first few minutes of trade.
Here's how their intraday charts are building up:
Nifty 50 LIVE
Sensex LIVE
Images: BSE, NSE
Share Market Today LIVE | Sensex down 94 pts at 59,539 in pre-open market
At the end of the pre-opening session, the Sensex is down 93.6 points or 0.2 per cent at 59,538.8.
Anil Singhvi Market Strategy | Strong Nifty base at 17,500-17,575, buy Nifty Bank at 41,625-41,825
Zee Business Managing Editor Anil Singhvi expects strong support for the Nifty50 benchmark at 17,500-17,575 levels on Friday, April 21. For the Nifty Bank, the market wizard sees support emerging at 42,000-42,125 levels.
How Anil Singhvi views the Indian share market and what he recommends
Forex Market LIVE | Rupee edges higher vs dollar at open, up by five paise
The rupee begins the day with a gain of five paise, or 0.1 per cent, at 82.10 against the US dollar. On Thursday, it had settled at 82.15 against the greenback.
Nifty 50, Sensex closed barely in the green on Thursday, halted three-day losing streak
The Nifty 50 settles with a gain of 5.7 points at 17,624.5 and the Sensex closes at 59,632.4, up 64.6 points or 0.1 per cent for the day.
Here's how the headline indices moved through the day:
Nifty 50
Sensex
Images: NSE, BSE
Share Market Today LIVE | SGX Nifty futures point to a flat start ahead on Dalal Street
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — are up two points at 17,667 at this hour, having gyrated in a range of more than 50 points around the flatline earlier in the day.
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