Share Market HIGHLIGHTS: Nifty, Sensex extend gains to 7th day driven by financial, FMCG stocks; TCS, Infosys play spoilsport
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex continued to rise for the seventh session in a row on Tuesday, amid cautious gains in global markets ahead of a key US inflation reading due this week. Investors awaited the onset of the corporate earnings season, with TCS and Infosys due to report their financial results for the January-March 2023 period this week. Catch HIGHLIGHTS of all the action in the Indian share market on April 11, 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.coms blog.
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex continued to rise for the seventh back-to-back session on Dalal Street on Tuesday, amid cautious gains across global markets ahead of a key US inflation reading due this week that could offer more clarity on the course of benchmark interest rates in the world's largest economy. Investors awaited the onset of the corporate earnings season, with IT giants Tata Consultancy Services (TCS) and Infosys (INFY) slated to report their quarterly numbers this week.
Here's a list of headlines that remained in focus on Dalal Street on April 11:
- Anil Singhvi shares list of stocks to invest in to make the most of pause in interest rates
- Monsoon Forecast 2023: Normal rainfall expected this year, El Nino likely this season
- Shipping Corporation of India shares locked in upper circuit; core group of secretaries to meet on April 14
- TCS to kick off Q4 results season on Wednesday; what to expect | Check out India Inc's Q4 results schedule
- ITC shares touch all-time high; what should investors do?
- Jefferies cuts Hero MotoCorp target price by Rs 200, maintains 'buy'
- Explained: The El Nino factor in Indian monsoon
- ICICI Bank allows users to convert UPI payments into EMI: Here's how
- HDFC Bank board to consider Q4 results, dividend on April 15
- Vedanta gets court nod to reopen Tamil Nadu copper smelter; board to discuss fund-raise on Wednesday
Catch HIGHLIGHTS of all the action in the Indian share market on April 11, 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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TCS Q4 Results Preview | Constant currency revenue growth estimated at 0.9%
According to Zee Business research, Tata Consultancy Services' revenue growth in constant currency terms is estimated at 0.9 per cent on a quarter-on-quarter basis.
Analysts expect weakness in the rupee against the US dollar and easing attrition to aid the IT major's margin in the quarter. Investors will keenly look out for details of the company's deal wins and its outlook for the BFSI business.
Read more on what to expect from TCS Q4 results | Check out updated schedule of India Inc earnings season
TCS Q4 Results | Margin likely to improve by 30 bps
According to Zee Business research, Tata Consultancy Services is estimated to report 2.9 per cent sequential growth to Rs 14,700 crore in earnings before interest and taxes (EBIT) for the three-month period.
The Tata group giant's margin — a key measure of profitability — is pegged at 24.8 per cent for the quarter ended March 2023, as against 24.5 per cent for the previous three months.
TCS Q4 Results Preview | Dollar revenue estimated at $7,202 million
According to Zee Business research, the Tata group company's revenue in dollar terms is estimated at $7,202 million for the quarter ended March 2023, up 1.8 per cent on a sequential basis.
TCS Q4 results on April 12; Net profit likely to rise 7%, dollar revenue growth estimated at 1.8%
Tata Consultancy Services (TCS) — India's largest IT services company — is all set to report its financial results for the quarter ended March 2023 on Wednesday. This will be the first quarterly earnings report by the Tata group IT giant since the appointment of K Krithivasan as the company's CEO Designate following the surprise resignation of CEO Rajesh Gopinathan.
According to Zee Business research, TCS is estimated to report a net profit of Rs 11,600 crore for the January-March 2023 period, marking an increase of 6.9 per cent compared with the previous three months.
The Mumbai-based IT major is estimated to report quarterly revenue of Rs 59,200 crore, translating to growth of 1.7 per cent on a sequential basis, according to the research.
Read more on what to expect from TCS Q4 results | Check out updated schedule of India Inc earnings season
Share Market Today | Nifty 50 closes above 17,700, Sensex rises 311 pts to settle at 60,158 driven by financial, FMCG, metal stocks; TCS, Infosys play spoilsport, weigh on Nifty IT
Both headline indices hold on to much of their intraday gains. The Nifty finishes at 17,722.3, up 98.3 points or 0.6 per cent from its previous close, after gyrating in the range of 17,650-17,750 during the session. The Sensex settles with a gain of 311.2 points or 0.5 per cent at 60,157.7.Nifty 50
Image: NSE
Sensex
Image: BSE
Nifty LIVE | TCS, Infosys limit upside in headline index
Share Market Tips LIVE | Navin Fluorine a positional pick, target Rs 4,800, says Sandeep Wagle
Sandeep Wagle of Sandeep Wagle Advisory Services shares Navin Fluorine as a positional pick. He tells Zee Business that the stock has formed an inverted head and shoulders pattern on the charts and is poised to reach levels to the tune of Rs 4,800 over the next 3-4 days.
He recommends buying the stock around Rs 4,440-4,450-odd levels for a positional target of Rs 4,800 with a stop loss at Rs 4,390.
Shipping Corp Divestment | Core group of secretaries to meet on April 14
Shipping Corporation shares remain locked in the five per cent upper circuit at Rs 85.2 apiece on BSE.
Image: BSE
Shipping Corp Divestment | Core group of secretaries to meet on April 14
Shipping Corporation shares remain locked in the five per cent upper circuit at Rs 85.2 apiece on BSE.
Image: BSE
IMD Monsoon Forecast | Weather office predicts normal rainfall this monsoon, says El Nino impact may be visible in August-September
Share Market Tips LIVE | Buy ITC Rs 400 call option, says Mehul Kothari
Mehul Kothari of Anand Rathi Shares & Stock Brokers shares two derivative recommendations with Zee Business viewers:
- Buy the Rs 400 call option of ITC at Rs 3.5 for a target of Rs 5.5 with a stop loss at Rs 1.5; a breakout in the stock can continue all the way to Rs 400
- Buy the Rs 4,200 call option of Bajaj Auto near 37 for a target of Rs 70 with a stop loss at Rs 17
Anil Singhvi shares his favourite picks to make the most of the market now
Watch Zee Business Managing Editor Anil Singhvi share his top recommendations in the current market:
Jefferies cuts Hero MotoCorp target price by Rs 200, maintains buy
Shares of Hero MotoCorp see-saw between gains and losses amid choppy trade, after Jefferies reduces its target of the stock of the two-wheeler major by Rs 200 to Rs 300.
Government to invite financial bids for Shipping Corporation in May: Reuters
The government plans to invite financial bids for the privatisation of Shipping Corporation of India (SCI) next month, as it looks to sell the state-run company after years of delay, news agency Reuters reported citing two officials.
The government had, in 2019, announced plans to privatise a number of state-run companies, including selling its stake in SCI, which was stalled due to regulatory delays.
Shipping Corp shares are locked in the five per cent upper circuit, up by Rs 4.1 for the day, at Rs 85.2 apiece on BSE.
Image: BSE
TCS all set to kick off Q4 results season tomorrow; here's what brokerages expect
Shares in Tata Consultancy Services (TCS) — India's largest IT services company — declined by as much as Rs 46.2 or 1.4 per cent to Rs 3,217 apiece on BSE. The Tata group IT giant is all set to report its financial results for the January-March 2023 period on Wednesday.
Share Market Today LIVE | ITC shares hit record high, touch Rs 395 mark for first time
Shares in cigarette-to-hotel conglomerate ITC rise by Rs 6.5 or 1.7 per cent to touch a record high of Rs 395.2 apiece on BSE.
Image: BSE
The cigarette maker's previous record high was on February 23, 2023, at Rs 394 apiece on the bourse.
Gold Rate Today | Yellow metal futures within Rs 800 of all-time high touched this month
MCX gold futures (June 5) are quoting at Rs 60,403 per 10 grams, higher by Rs 340 or 0.6 per cent from its previous close. Earlier in the day, the contract touched Rs 60,408 per 10 grams at its strongest intraday level.
Image: MCX
At the day's high, the gold rate came within Rs 773 of a record high of Rs 61,181 per 10 grams, a peak scaled on April 5.
Image: Reuters
Which stocks to trade today? SBI, Maruti Suzuki, Tata Motors, Bajaj Auto in the spotlight
Here's what top brokerages make of some of the bluest of blue-chips on Dalal Street:
- Morgan Stanley maintains 'overweight' on Bank of Baroda with target price of Rs 220, says lender's domestic loan growth remains strong driven by acceleration in domestic retail
- Morgan Stanley continues with 'underweight' on JSW Steel, target Rs 545
- Morgan Stanley retains 'overweight' on Tata Motors, raises target by Rs 3 to Rs 513
- Morgan Stanley maintains 'overweight' on Maruti Suzuki India, raises target to Rs 11,155 from Rs 10,483
- Jefferies maintains 'buy' on Hero MotoCorp but reduces target by Rs 200 to Rs 3,000
- Citi continues with 'buy' on Sun Pharma, but reduces target to Rs 1,225 from Rs 1,270
- Morgan Stanley maintains 'overweight' on Larsen & Toubro with target price of Rs 2,827
- Jefferies maintains 'buy' on Zomato, target Rs 100
Check out the full list of brokerage calls along with their target prices today
Anil Singhvi shares list of stocks he likes, recommends 'buy on dips' strategy
Market wizard Anil Singhvi suggests traders to adopt a 'buy on dips' strategy. He sees the broader support range for the Nifty 50 at 17,350-17,425 levels and for the banking index at 40,000-40,200 levels, and recommends investing in interest rate-sensitive sectors.
His top picks in these spaces include DLF, Godrej Properties, Sobha and auto stocks.
What Anil Singhvi recommends today
Segment/sector Stock Real estate DLF, Godrej Properties, Sobha Four-wheeler manufacturer Tata Motors, Maruti Suzuki Two-wheeler manufacturer Hero MotoCorp, Bajaj Auto Private sector bank HDFC Bank, Axis Bank, ICICI Bank Public sector bank Bank of Baroda, SBI
Share Market Today LIVE | Shilpa Medicare, Trident, V-Mart Retail rise most among some 340 gainers in BSE 500
Here's a look at the biggest gainers and losers in the broadest index on the bourse:
Image: BSE
Sensex LIVE | SBI, ITC, ICICI Bank, Maruti Suzuki among 24 gainers in 30-scrip basket
Here's a look at the entire Sensex pack:
Image: BSE
Nifty LIVE | ICICI Bank, SBI, ITC, Sun Pharma among top movers
Here's a glance at the heatmap in the 50-scrip basket (by weight):
Image: Niftyindices.com
Nifty LIVE | SBI Life, SBI, HDFC Life among top blue-chip gainers
As many as 44 stocks in the Nifty50 basket are in the green, with Kotak Mahindra Bank (KOTAKBANK), SBI Life (SBILIFE), SBI (SBIN) and HDFC Life (HDFCLIFE) being the blue-chip stocks rising the most.
Top Nifty 50 gainers
Stock CMP Change (%) KOTAKBANK 1,843.0 4.8 SBILIFE 1,123.0 1.5 SBIN 534.0 1.5 HDFCLIFE 519.8 1.2 SUNPHARMA 1,019.9 1.1 Top Nifty 50 losers
Stock CMP Change (%) ASIANPAINT 2,764.0 -0.4 TCS 3,252.0 -0.4 TATAMOTORS 460.3 -0.2 HDFC 2,722.4 -0.2 Share Market Today LIVE | Sensex rises over 250 pts to test 60,100, Nifty surpasses 17,700
The Nifty 50 climbs to as high as 17,709.3 within the first few minutes of trade, up 85.2 points or 0.5 per cent from its previous close. The Sensex moves well past the 60,000 mark, gaining as much as 261 points or 0.4 per cent to touch 60,107.5 on the upside.
Here's how their intraday charts are building up:
Nifty 50 LIVE
Image: NSE
Sensex LIVE
Image: BSE
Share Market Today LIVE | Sensex above 60,000 mark in pre-opening session
The 30-scrip index settles at 60,028.6 in the pre-open market, marking a gain of 182.1 points or 0.3 per cent from its previous close.
Global Market Update | Dow Jones, S&P 500, Nasdaq Composite a mixed bag on Monday; all eyes on US inflation data
The three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — finished Monday's session on a mixed note, as caution persisted among investors ahead of a key US inflation reading due this week that could shed light on the future course of benchmark interest rates. Investors also awaited quarterly earnings reports from the banking sector.
Industrial shares helped the blue-chip index Dow Jones stay in the green, but megacap momentum stocks weighed on the tech-heavy Nasdaq Composite.
Here's how the indices fared at the end of the day:
- Dow Jones: up 101.2 points or 0.3 per cent at 33,586.5
- S&P 500: up 4.1 points or 0.1 er cent at 4,109.1
- Nasdaq Composite: down 3.6 points at 12,084.4
Share Market Today LIVE | SGX Nifty futures point to a positive opening ahead on Dalal Street
The Nifty 50 and Sensex may be in for a higher start today. Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — are up 36.5 points or 0.2 per cent at 17,721.5, having risen as much as 45 points to touch 17,730 earlier in the day.
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