Share Market HIGHLIGHTS: Sensex leaps 401 pts, Nifty back above 17,700 led by financial, IT stocks
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex staged a dramatic intraday recovery in a volatile session on Monday. Catch minute-by-minute updates of all the action in the Indian share market on April 24, 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 staged a dramatic recovery in the second half of a volatile session on Monday, led by gains in financial, IT and oil & gas shares. The Indian share market tracked cautious moves across global markets as the focus shifted to macroeconomic data and a slew of big earnings announcements due during the course of the week. Among heavyweights, ICICI Bank, HDFC Bank, Axis Bank and SBI were the biggest boosts for headline indices, whereas stocks such as Bharti Airtel, Maruti Suzuki and Sun Pharma played spoilsport.
Here are some of the headlines in focus on Dalal Street on April 24:
- 140% return in 5 years! Is this index heavyweight still a 'buy'?
- ICICI Bank Q4 review: Domestic brokerages see 30% upside in stock
- Pick of the Week: TCS, Pidilite, IDFC among analysts' top picks this week
- Gold rate back below Rs 60,000 per 10 grams
- Sun Pharma shares drop after company halts shipments from Mohali facility
Catch minute-by-minute updates of all the action in the Indian share market on April 24, 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 Tips LIVE | TCS, Pidilite, IDFC among analysts' top recommendations for the week
In this special Zee Business segment, Pick of the Week, market experts share their top recommendations for the week.
- Rakesh Bansal of Rakesh Bansal Ventures recommends buying IDFC shares for a target of Rs 86.5 a stop loss at Rs 79.9; he also recommends buying TCS shares with a stop loss at Rs 3,120
- Mehul Kothari of Anand Rathi Securities recommends buying Trent shares for a target of Rs 1,480 and a stop loss at Rs 1,330
Catch the full list of Pick of the Week recommendations here
Gold Rate Today | Yellow metal futures hover around Rs 59,850/10 grams level
MCX gold futures (June 5) trade at Rs 59,871 per 10 grams at this hour, up by Rs 26 from their previous close.
Share Market Today LIVE | ITC, Bajaj Auto, Godrej Consumer, RVNL, Cyient hit 52-week highs
A number of stocks in the BSE 500 universe scale fresh 52-week highs, including ITC, Bajaj Auto, Godrej Consumer Products, Ircon, RVNL, Aegis Logistics and Cyient.
Here's the full list:
Stock New 52-week high Existing 52-week high Aegis Logistics (AEGISLOG) 409.4 405 (Apr 5, 2023) Anupam Rasayan (ANURAS) 1,077 1,076 (Apr 21, 2023) Bajaj Auto (BAJAJ-AUTO) 4,353 4,335.9 (Apr 21, 2023) CYIENT 1,230.1 1,194.1 (Apr 21, 2023) GLENMARK 518.5 517 (Apr 21, 2023) Godrej Consumer Products (GODREJCP) 994.5 990.6 (Apr 21, 2023) IRCON 69.6 66.8 (Dec 7, 2022) ITC 410 409 (Apr 21, 2023) NCC 116 114.4 (Apr 21, 2023) Rail Vikas Nigam (RVNL) 88.8 84.2 (Nov 29, 2022) ZYDUSLIFE 524.4 520.5 (Apr 21, 2023) Global Market Update | Dow Jones, S&P 500, Nasdaq Composite futures point to a weak start ahead in US stock market today
The futures contracts of three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — indicate a lower start ahead in the US share market later on Monday. The US stock market is due to open at 7:00 pm India time.
Here's where the three futures contracts stand at this hour:
- Dow Jones: down 66 points or 0.2 per cent at 33,884
- S&P 500: down nine points or 0.2 per cent at 4,147.8
- Nasdaq Composite: down 20 points or 0.2 per cent at 13,070.5
Global Market LIVE | European shares muted ahead of key macro data, big earnings this week
European shares begin the day on a subdued note as investors await more economic data this week and earnings from some of the highest-valued US companies along with major European banks and consumer companies.The pan-European STOXX 600 index is flat, with oil and gas shares down around half a per cent tracking oil prices.
- UK's FTSE 100: down 0.1 per cent
- France's CAC: down 0.2 per cent
- Germany's DAX: down 0.1 per cent
Share Market Today LIVE | RVNL, Indiabulls Real Estate, Maharashtra Bank, Punjab & Sind Bank rise most among 300-odd gainers in BSE 500 universe
Ircon, HLE Glascoat and HDFC Life are also among the stocks rising the most in the broadest basket on the bourse.
On the other hand, Brightcom Group, KPR Mill, DCM Shriram, Adani Green, Yes Bank, Adani Transmission and Adani Total are the worst hit among the laggards.
ITC shares recover intraday losses to touch all-time high of Rs 410
ITC shares rise to an all-time high of Rs 410 apiece on BSE, having made a dramatic recovery to the tune of Rs 5.8 from their weakest level of the day.
Image: BSE
Share Market Today LIVE | Sun Pharma shares drop after company halts shipments from Mohali facility
Sun Pharma decline by as much as Rs 29.2 or 2.9 per cent to Rs 960 apiece on BSE, after US drug regulator FDA directs the Indian pharma company to take certain corrective actions at its Mohali facility in Punjab before releasing final product batches into the US.
IndusInd Bank Q4 Results | Profit, NII miss analysts' estimates; shares slide into the red
IndusInd Bank reports a standalone profit of Rs 2,043 crore for the quarter ended March, as against a net profit of Rs 1,361.4 crore for the corresponding period a year ago. Its net interest income (NII) — or the difference between interest earned and interest paid — increased to Rs 4,670 crore from Rs 3,985 crore a year ago, according to a regulatory filing.
According to Zee Business research, the lender's quarterly profit was estimated at Rs 2,100 crore and NII at Rs 4,750 crore.
The company's board recommends a dividend of Rs 14 per share.
Share Market Tips LIVE | Buy HDFC Bank Rs 1,700 call option, says Himanshu Gupta
In conversation with Zee Business Managing Editor Anil Singhvi, Himanshu Gupta of Globe Capital Markets suggests buying the Rs 1,700 call option of HDFC Bank in the current series at Rs 5.5 for targets of Rs 8.5 and Rs 10 with a stop loss at Rs 3.5.
Share Market Tips LIVE | Buy Tejas Networks, Union Bank, says Vkas Sethi
In conversation with Zee Business Managing Editor Anil Singhvi, Vikas Sethi of Sethi Finmart shares two recommendations:
- Buy Tejas Networks shares for a target of Rs 655 with a stop loss at Rs 615
- Buy Union Bank shares for a target of Rs 76 with a stop loss at Rs 70
Share Market Tips LIVE | Buy Nifty50 17,750 call option at Rs 66.5, says Jay Thakkar
Jay Thakkar of Sharekhan recommends buying the 17,750 call option of the Nifty index at Rs 66.5 for targets of Rs 108 and Rs 130 with a stop loss at Rs 90.
Sensex LIVE | Wipro, Titan, ICICI Bank, SBI, Axis Bank rise most among 23 gainers in 30-scrip basket
Here's a look at the entire pack:
Image: BSE
Share Market Today LIVE | ICICI Bank, HDFC twins, Axis Bank, SBI top boosts for Nifty 50
Here's a look at the heatmap in the 50-scrip basket 30-odd minutes ahead of the closing bell:
Image: Niftyindices.com
Share Market Today LIVE | Tata Consumer PRoducts shares surge amid large deals
The stock of Tata group company Tata Consumer Products — whose popular brands include Tata Salt, Tata Starbuck, Tata Coffee Gold Tetley and Tata Sampann — rise as much as 4.3 per cent to Rs 729.9 apiece on BSE as about 12 lakh shares of the company change hands in large deals.
Share Market Today LIVE | Indiabulls Real Estate surges with huge volumes
Indiabulls Real Estate holds on near its intraday high with a gain of 12.2 per cent at Rs 63.8 apiece on BSE, trading in huge volumes. Earlier in the day, the stock gained by as much as 7.6 or 13.3 per cent to Rs 64.5 apiece on the bourse.
Image: BSE
As many as 15.1 lakh Indiabulls Real shares have changed hands on the exchange so far today, as against a daily average of 7.1 lakh in the past two weeks, according to provisional exchange data.
Nifty tear-term trend likely to be bullish to sideways: Samco Securities' Rohan Patil
Rohan Patil, Technical Analyst at Samco Securities, points out that the Nifty 50 has revisited a channel pattern breakout at 17,600 on the daily chart, with momentum indicator RSI holding on firmly above the 50 mark.
"Over the near term, the trend is likely to remain in a bullish to sideways tone as the bullish breakout of a falling channel pattern is still valid. The validity of the bullish pattern stands above 17,500, which can be considered immediate support for the index," he says.
What brokerages make of ICICI Bank after private sector lender's strong Q4 show
Brokerage Rating Target price CLSA Buy Revised to Rs 1,200 from Rs 1,175 JPMorgan Overweight Rs 1,150 Jefferies Buy Raised to Rs 1,180 from Rs 1,150 Macquarie Outperform Rs 1,145 ICICI Bank Q4 Results | Net profit, NII, NIM better than analysts' estimates
ICICI Bank — India's second largest lender by market value — on Saturday reported a 30 per cent year-on-year jump in net profit to Rs 9,121.9 crore for the quarter ended March 2023. Its net interest income (NII) — or the difference between interest earned and interest paid — grew 40.2 per cent on a year-on-year basis to Rs 17,666.8 crore, and net interest margin — a key measure of profitability for financial institutions — improved by 25 basis points on a sequential basis to 4.9 per cent, according to a regulatory filing.
According to Zee Business research, ICICI Bank's quarterly net profit was estimated at Rs 8,850 crore, NII at Rs 17,200 crore and NIM at 4.7-4.8 per cent.
The bank's asset quality — measured by non-performing assets or bad loans as a percentage of total loans — improved, with gross bad loans at 2.81 per cent and net bad loans at 0.48 per cent. For the quarter ended December 2022, ICICI Bank's gross NPAs had stood at 3.07 per cent and net NPAs at 0.55 per cent.
ICICI Bank's board recommended a dividend of Rs 8 per share.
Share Market Today LIVE | ICICI Bank shares rise after lender's strong Q4 show
ICICI Bank shares rise after the private sector banking major reports a strong set of Q4 earnings during the weekend. The ICICI Bank stock gains by RS 22.6 or 2.6 per cent to Rs 906.8 apiece at the strongest level of the day so far on BSE.
Share Market Today LIVE | Volatility index VIX jumps
NSE's India VIX index — also known in market parlance as the fear or volatility index — is up 2.7 per cent at 11.9 at this hour, having jumped as much as five per cent to 12.2 only minutes ago.Stock Market Today LIVE | Samvardhana Motherson shares gain amid large deals
Samvardhana Motherson International (MOTHERSON) shares are at their highest level of the day so far, trading 1.4 per cent higher at Rs 71.1 apiece on BSE at this hour.
The stock is in the green on the back of large deals, wherein as many as 19 lakh shares of the company have changed hands.
Image: BSE
Share Market Today LIVE | Jefferies, Goldman Sachs maintain 'buy', rate targets on RIL after conglomerate's Q4 results
Brokerage Rating Target price CLSA Buy Rs 2,970 JPMorgan Overweight Rs 2,960 Jefferies Buy Raised to Rs 3,125 from Rs 3,100 Goldman Sachs Buy Raised to Rs 2,890 from Rs 2,875 Macquarie Neutral Rs 2,050
Share Market Today LIVE | Reliance Industries shares rise after Q4 results
Reliance Industries shares gain after the oil-to-telecom conglomerate last week reported its financial results for the January-March 2023 period. Reliance shares rise by as much as Rs 34 — or 1.4 per cent — to Rs 2,382.9 apiece on BSE.
After market hours on Friday, Reliance Industries reported a two per cent decline in revenue to Rs 2,16,376 crore for the March quarter compared with the previous three months. Its quarterly net profit came in at Rs 19,299 crore, according to a regulatory filing.
Its telecom arm, Reliance Jio Infocomm — which provides telecom services under brand Jio — reported a net profit of Rs 4,716 crore for the three-month period.
Share Market Today LIVE | HDFC Life, Tata Consumer Products, Apollo Hospitals rise most among 22 gainers in Nifty 50 basket
Here's a look at the stocks in the 50-scrip pack that are moving the most 25 minutes into the opening bell:
Top Nifty 50 gainers
Stock CMP Change (%) HDFC Life Insurance (HDFCLIFE) 534.7 4.2 Tata Consumer Products (TATACONSUM) 724.8 3.5 Apollo Hospitals (APOLLOHOSP) 4,448.6 2 Hero MotoCorp (HEROMOTOCO) 2,504.2 1.8 TITAN 2,600.5 1.3 Top Nifty 50 losers
Stock CMP Change (%) Sun Pharma (SUNPHARMA) 969.8 -2 Dr Reddy's Labs (DRREDDY) 4,785 -1.7 UPL 724.7 -1.4 Divi's Labs (DIVISLAB) 3,193.2 -1.2 CIPLA 905.5 -1 Share Market Today LIVE | Sensex jumps over 300 pts, Nfity tests 17,700 in early deals
Both headline indices gain as much as half a per cent within the first few minutes of trade. The Sensex rises 303.3 points to touch 59,958.3 at the strongest level of the day so far, and the Nifty 50 climbs to as high as 17,709.2, up 85.2 points from its previous close.
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 a strong sell zone in the Nifty 50 at 17,750-17,825 levels. For the Nifty Bank, he sees support emerging at 41,950-42,025 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today | Wipro, ICICI Bank, RIL, Sun Pharma, Century Textiles, other stocks to track
- Wipro's board will consider a share buyback along with its Q4 results on April 27
- ICICI Bank on Saturday reported a strong set of Q4 earnings and announced a dividend of Rs 8 per share
Share Market Tips LIVE | TCS, Pidilite, IDFC among analysts' top recommendations in 'Pick of the Week'
- Mehul Kothari of Anand Rathi Securities recommends buying Trent shares for a target of Rs 1,480 and a stop loss at Rs 1,330
- Rakesh Bansal of Rakesh Bansal Ventures recommends buying IDFC shares for a target of Rs 86.5 a stop loss at Rs 79.9; he also recommends buying TCS with a stop loss at Rs 3,120
Share Market Today LIVE | Sensex up 219 pts at 59,874, Nifty 50 up 83.5 pts at 17,708 in pre-opening session
Traders' Diary | Buy, sell or hold strategy on ICICI Bank, HDFC Life, Wipro, Bandhan Bank, Tejas Networks, 15 other stocks
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track today.
- Kushal Gupta recommends buying Tejas Networks shares in the cash segment for a target price of Rs 652 with a stop loss at Rs 625
- Ashish Chaturvedi suggests buying Maharashtra Seamless shares in the spot market for a target of Rs 415 with a stop loss at Rs 400
Share Market Update | Nifty 50 finished as flat as it could get on Friday, Sensex up 23 pts
The Nifty 50 finished the last session of the week gone by flat at 17,624.1, after broadly moving within the 17,550-17,700 band in intraday trade. The Sensex ended 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 during the session.
Here's how the main gauges moved through the day:
Nifty 50
Read more on the April 21 session in the Indian share market
Share Market Today LIVE | SGX Nifty futures up over 50 pts, suggest a positive start ahead on Dalal Street
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — are up 58 points, or 0.3 per cent, at 17,697.5 at this hour, having gyrated in a range of 89.5 points around the flatline — between 17,610.5 and 17,700 — earlier in the day.
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