Share Market HIGHLIGHTS: Sensex ends 456 pts lower, Nifty50 slides below 22,150 as Dalal Street extends losses to 3rd session in a row
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex continued to fall for a third straight session on Tuesday, April 16, amid across-the-board selling on Dalal Street, with financial and IT stocks leading the losses. Catch all the highlights of the April 16 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex continued to fall for a third straight session on Tuesday, April 16, amid across-the-board selling wherein financial and IT stocks led the losses.
Catch all the highlights of the April 16 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today: Sensex ends 456 pts lower, Nifty50 gives up 22,150 as D-Street continues to fall for third straight session
IT, financial stocks lead losses on Dalal Street
Share Market Today LIVE: Sensex down over 500 pts, Nifty down 151 pts as market enters last 30 minutes of trade
Blue-chip indices Sensex and Nifty50, and banking sector barometer Nifty Bank are all down 0.7 per cent at this hour.
Here's a quick check on the main indices:
- Sensex: down 544.2 points at 72,855.6
- Nifty50: down 150.71 points at 22,121.8
- Nifty Bank: down 349.1 points at 47,424.2
Share Market Today LIVE: Buy Hindalco futures, says Sandeep Wagle
Sandeep Wagle of Sandeep Wagle Advisory recommends buying Hindaico Industries futures for targets of Rs 660 and Rs 670 with a stop loss at Rs 613.
Wagle's target suggests an upside of as much as 9.4 per cent in the stock from its previous close.
Share Market Today LIVE: Buy CG Power and Industrial Solutions shares, target Rs 540, says Vikas Sethi
Vikas Sethi of Sethi Finmart has a 'buy' call on CG Power shares.
He has placed his target for the stock at Rs 540 with a stop loss at Rs 495.
Share Market Today LIVE | Jefferies sees 34% upside in Bharti Hexacom; stock gains over 8% in trade
Newly listed Bharti Hexacom shares on Tuesday (April 16) edged over 8 per cent higher and touched the day's high at Rs 876.75 apiece on NSE. The stock soared after global brokerage Jefferies initiated a 'buy' with a target price of Rs 1,080 apiece.
At around 10:46 a.m., shares of Bharti Hexacom traded 5.57 per cent, or Rs 44.9, higher on NSE at 851 apiece.
Share Market Today LIVE | Vodafone Idea slips over 4.50% a day after telecom firm announces FPO details
Vodafone Idea slid by over 4.50 per cent on BSE on Tuesday (April 16, 2024) a day after the telecom company announced that its FPO was set to be launched on April 18.
The stock that began the day at Rs 12.90 slipped to the day's low of Rs 12.56, a 4.56 per cent fall from its previous close of Rs 13.16.
Share Market Today LIVE | VST Industries jumps 3.42% after Radhakishan Damani bought 2.33 lakh shares in firm
VST Industries jumped over 3.40 per cent on BSE on Tuesday (April 16, 2024) after renowned investor Radhakishan Shivkishan Damani bought 2.33 lakh shares of the company in a bulk deal.
The stock of the company rose by 3.42 per cent to the day's high of Rs 3,816.00 after the previous close of Rs 3,689.90.
Share Market Today LIVE | HDFC Bank trades in green as Jefferies sees potential upside of 18% on NIM improvement
Ahead of its Q4 results to be released on April 20, 2024 (Saturday), HDFC Bank shares traded in the red even as global brokerage Jefferies iterated its buy stance on the private lender for a target of Rs 1800. This is a significant potential upside of 18 per cent from the previous close.
At around 10:02, shares of the private lender added 0.19 per cent or Rs 2.8 at Rs 1497.25 per share.
Share Market Today LIVE | Varun Beverages shares: Morgan Stanley initiates coverage with an 'overweight' call, sees 23% upside
Global brokerage firm Morgan Stanley initiated coverage on Varun Beverages (VBL), the leading bottler of beverage major PepsiCo with an overweight rating. The brokerage has set the target price at Rs 1,701, implying an upside potential of over 23 per cent from the previous close.
Over the next 3 years, the analysts at the brokerage expect Varun Beverages to deliver India business' revenue growth averaging 19 per cent annually with EBITDA margins steady at an average of 23.7 per cent, as per its report on the counter.
Share Market Today LIVE | Oil companies largely trade in green despite govt's windfall gains tax hike
The upstream oil companies including ONGC, Reliance Industries, Oil India are trading higher in Tuesday's trade (April 16) even as the centre hiked windfall gains tax on crude to Rs 9600 per metric ton from Rs 6800 with effect from today.
The Indian government has raised its windfall tax on petroleum crude to 9,600 rupees ($114.99) a metric ton from 6,800 rupees with effect from April 16, the government said on Monday.
Share Market Today LIVE | Should you buy HUL, Vodafone Idea, Varun Beverages, Bharti Hexacom, other stocks today?
Brokerages have several stocks on their radar. Here's what Jefferies, JPMorgan, Morgan Stanley, Citi, Nomura and Macquarie make of stocks such as Hindustan Unilever Ltd (HUL), Vodafone Idea, Varun Beverages and Bharti Hexacom:
Vodafone Idea Stock: Citi has a 'neutral rating on the Vodafone Idea (VI) stock with a target of Rs 13.15.
Varun Beverages Stock: Morgan Stanley has an 'overweight' rating on the Varun Beverages stock with a target of Rs 1,701.
Bharti Hexacom Stock: Jefferies has a 'buy' call on the Bharti Hexacom stock with a target of Rs 1,080.
HDFC AMC Stock: JPMorgan has an 'overweight' rating on the HDFC AMC stock with a target of Rs 4,450.
Hindustan Unilever Stock: Morgan Stanley has maintained an 'equal-weight' rating on the Hindustan Unilever Ltd (HUL) stock with a target of Rs 2,350.
Exide Industries Stock: Nomura has maintained a 'buy' call on the Exide Industries stock with a target of Rs 485.
IDFC First Bank Stock: Jefferies has maintaned a 'buy' call on the IDFC First Bank stock with a target of Rs 100. Read more
Share Market Today LIVE | Gujarat Gas and IOCL shares rise after both sign MoU; get details
Gujarat Gas rose 1.71 per cent on BSE on Tuesday (April 16, 2024) after the company signed an MoU with IOCL to broaden the scope and accessibility of energy solutions for consumers.
Here's how the stocks of Gujarat Gas and Indian Oil Corporation Ltd (IOCL) were trading on Tuesday.
Share Market Today LIVE | Precious metals edge higher amid geopolitical tensions in Middle East
Domestic precious metal futures on Tuesday (April 16) edged higher as geopolitical concerns accelerated.
Last seen, MCX gold futures (Jun 5) traded Rs 561, or 0.78 per cent, higher at Rs 72,838 per 10 grams at the last count. Meanwhile, MCX Silver futures (May 3) traded Rs 319, or 0.38 per cent higher, at Rs 84,170 per kg.
Share Market Today LIVE | Vedanta shares in focus—here's what is keeping the investors keen
Anil Agarwal-led Vedanta shares remained in focus on Tuesday, April 16 after the Mining conglomerate secured an 11-year term loan of Rs 3,918 crore from Power Finance Corporation Ltd (PFC). The financial closure will enable Vedanta to expedite the completion of its power projects.
Shares of mining major Vedanta on Tuesday, April 16 traded in red, extending the declining trend for the second trading session amid weakness in D-Street.
Traders' Diary | Buy, sell or hold strategy on L&T, ONGC, Infosys, Hindalco Industries, Tata Communications, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Tuesday, April 16, 2024. Check out the complete list of stocks on analysts Kushal Gupta and Varun Dubey's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
Buy Marksans Pharma shares in the cash segment for a target price of Rs 160 with a stop loss at Rs 153
Sell Infosys futures for a target of Rs 1,430 with a stop loss at Rs 1,485
Buy the Rs 615 call option of Hindalco at Rs 14 for a target of Rs 30 with a stop loss at Rs 10
Technical pick: Sell Tata Communications futures for a target price of Rs 1,860 with a stop loss at Rs 1,940
Fundamental pick: Buy Larsen and Toubro (L&T) shares for a one-year target of Rs 4,300.
Investment idea: Buy HDFC AMC shares for a one-year target of Rs 4,300. Read more
Stocks to buy: Infosys, Bajaj Finance, Gujarat Gas, Can Fin Homes among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Kunal Saraogi, Sudeep Shah, Avinash Gorakssakar and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' and 'sell' list are stocks such as Infosys, Bajaj Finance, Gujarat Gas, Can Fin Homes and Anant Raj. Read more
Share Market Today LIVE | Nifty Bank trades over 300 pts lower
Source: NSE
Currency market update | Rupee falls 8 paise to 83.52 against US dollar in early trade
Share Market Today LIVE | Sensex falls nearly 450 pts, Nifty slides below 22,200 in opening deals
Nifty 50
Source: NSESensex
Source: BSE
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support emerging at 22,000-22125 levels and a stronger support zone at 21,825-21,950 levels for the headline Nifty50 index on Tuesday, April 16.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Stocks to Watch | TCS, JSW Infra, Sula Vineyards, other stocks
Here are some stocks that will be in focus on Tuesday, April 16:
TCS: Tata Consultancy Services (TCS) announced a new delivery centre in Londrina, Paraná, Brazil. This new centre will create more than 1,600 new job opportunities over the next five years, contribute to the local economy, and strengthen TCS’ presence in the region.
JSW Infrastructure: JSW Infra re-appointed Arun Maheshwari as joint managing director and CEO of the company w.e.f. April 18, 2024.
Crisil: The company will announce its Q4 results on Tuesday.
Sula Vineyards: The company acquired ND Wines Private Limited. The company executed a share purchase agreement with the shareholders of ND Wines Private Limited on April 12, 2024.
ONGC, RIL, Oil India, MRPL and Chennai Petro: The government has increased the windfall tax on crude oil to Rs 2800 per tonne. Read more
Market Outlook | Domestic markets could open lower says Deepak Jasani
"Indian markets could open lower, in line with negative Asian markets today and lower US markets on April 15," says Deepak Jasani, Head of Retail Research, HDFC Securities.
"Rising geopolitical tensions kept risk sentiment in check, lifting prices of gold and oil. Nifty fell for the second consecutive session amid Israel-Iran tensions to close at 22,272.5 on April 15. Nifty closed near the day’s low with more than 1 per cent loss. The short-term trend of Nifty turned bearish as it violated the crucial support of 20 days EMA, placed at 22,370. Next support for the Nifty is seen in the range of 22,110-22,150. On the higher side 22,417 and 22,600 could offer resistance in the short term," he adds.
Share Market Today LIVE: GIFT Nifty futures indicate gap-down opening, trade nearly 200 pts lower
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 190.3 points or 0.85 per cent at 22,167 ahead of the opening bell on Dalal Street.
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