Sensex today: Stock Market Highlights Today: Nifty forms bearish candle; what does it

Sensex Today LIVE: Indian shares fell for a second straight session on Tuesday ahead of inflation data expected to build the case for an interest rate hike, with metals stocks leading the losses on concerns over demand. The NSE Nifty 50 index closed down 0.82% at 17,530.30, while the S&P BSE Sensex dropped 0.66% to 58,576.37. “Hyperinflation and risk of a policy rate hike are placing the global market on its toes and are impacting the performance of equities with a rise in yield,” said Vinod Nair, head of research at Geojit Financial Services.

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Wall Street opens higher after CPI data

US stock indices bounced on Tuesday after data showed consumer prices rose largely in line with estimates, taking pressure off megacap growth and technology stocks that were hammered by expectations of aggressive U.S. interest rate hikes. The Dow Jones Industrial Average rose 104.4 points, or 0.30%, at the open to 34,412.51.

IIP at 1.7% is reflecting a broad-based trend across segments mainly in capital goods and consumer durables and non-durables segment. Near future developments on geo-political scenario and capacity utilization would be crucial as the reflection of Omicron and third wave wanes from the index.

– Vivek Rathi, Director-Research at Knight Frank India

Tech View: Nifty forms bearish candle; bears have upper hand, say analysts

Nifty50 on Tuesday fell below 17,550 level and formed a bearish candle on the daily scale. Analysts said the short term trend for Nifty50 remains negative. While the NSE barometer may find some support near the 17,400 level, analysts do not rule out extension of the ongoing weakness towards the 17,300 level. A reasonable negative candle on the with minor lower shadow indicates continuation of weakness in the market, said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

Sunteck Realty’s sales bookings rise 27% to Rs 1,303 crore in 2021-22

Sunteck Realty on Tuesday said its sales bookings rose 27 per cent to Rs 1,303 crore in the last fiscal. Its sales bookings stood at Rs 1,022 crore in the previous financial year.

The company’s collections from customers rose 35 per cent to Rs 1,053 crore in FY22 from Rs 780 crore in the previous fiscal.

Market is under pressure on account of Inflation worries ahead of US inflation data release. Even March CPI inflation is set to to increase to 6.37 percent from 6.07 percent in February. Along with this RBI hawkish turn at its policy review on April 8 and few sectors expected to have an adverse effect in their quarterly results due to commodity price rise and infalation, have put added pressure on the market. Benchmark index corrected almost 0.5%. Mid and Small caps were also seen under pressure today. Investors are advised to maintain liquid cash in hand to take advantage of any falls in quality stocks due to poor performance in quarterly results. We expect some volatility in market on account of weekly expiry.

– Rahul Sharma, C0-Founder, Equity 99

Nifty slipped lower as it broke the support of 17600. On the lower end, it found support around 17400 before closing about 90 points off the day’s low. The bias, however, remains weak as the Nifty ended below the support of 17600, which is likely to act as resistance going forward. On the lower end, 17400 may continue to act as support below which the Nifty may witness a serious correction.

– Rupak De, Senior Technical Analyst at LKP Securities

STOCK IN FOCUS: MARUTI SUZUKI

Fire incident at Maruti’s Rohtak R&D centre is covered under the insurance policy. The damage assessment is being carried out and the recovery of the insurance amount is subject to the valuer’s assessment of the damage.

Hyperinflation & risk of a policy rate hike are placing the global market on its toes and are impacting the performance of equities with a rise in yield. Inflation in India is also expected to be on the higher side in Q1FY23, it is expected to subside due to a reversal of commodity prices and improvement in supply. The domestic market is also cautious in anticipation of Q4 results.

– Vinod Nair, Head Of Research at Geojit Financial Services

MARKET STATS

Advance-decline ratio skewed in favour of sellers today

Top 5 Nifty gainers & losers today

Bank stocks show resilience in the sectoral pack

CLOSING BELL: Sensex falls for 2nd day, drops 388 pts; Nifty ends below 17,550; Hindalco down 6%; Adani Green rises 4%

In the Sensex pack, 22 stocks closed in the red, with Tata Steel, Wipro, Tech Mahindra as worst losers. On the other hand, Axis Bank, Kotak Bank and Power Grid were lead gainers

Top largecaps MFs bought & sold in March

Source: ICICIDirect

STOCK FOCUS: Kesoram Industries falls after reporting net loss in Q4

Price as on 12 Apr, 2022 03:11 PM, Click on company names for their live prices.

Nomura expects Indian IPO market to pick up in second half

Nomura Holdings Ltd. expects initial public offerings in India will regain momentum in the second half of this year as indicated by increasing activity in secondary share sales.

“The capital markets on the secondary side which is on the block and QIPs have started to pick up,” Amit Thawani, head of India coverage investment banking at Nomura, said in an interview with Bloomberg Television on Tuesday. “We expect a constructive environment especially in the second half of the year for IPOs.”

Nomura expects Indian IPO market to pick up in second half

Top losers from media & entertainment pack

Price as on 12 Apr, 2022 02:37 PM, Click on company names for their live prices.

Sensex today live: Sharp recovery in index

YES Securities initiates coverage on paint sector

Asian Paints | BUY | Target: Rs 3,715

Aggressive strategy to fortify leadership position

Berger Paints | ADD | Target: Rs 790

Industry runner-up with bright prospects

Indigo Paints | Reduce | Target: Rs 1,693

Fine track record, difficult journey ahead

Market live updates: BSE Utilities index least hit amid market crash

GLOBAL MARKET UPDATE: US stock futures fall

Futures on the S&P 500 fell 0.4%
Futures on the Nasdaq 100 fell 0.3%
Futures on the Dow Jones Industrial Average fell 0.4% (Source: Bloomberg)

European stocks hit near 1-week low on global worries

European shares on Tuesday fell to their lowest in nearly a week on growing worries about rising inflation, a surge in coronavirus infections in China and the fallout of the prolonged war in Ukraine. The pan-European STOXX 600 index fell 1.1% by 0713 GMT, echoing weakness in Asian shares, with banks among the worst hit. Germany’s top lenders Deutsche Bank and Commerzbank slumped nearly 8% after an undisclosed investor sold stakes of more than 5%, a bookrunner said.

Deep Industries has received Letter of Award from Oil and Natural Gas Corporation (ONGC), for hiring of Gas Compression Services of 3.0 LSCMD capacity at Sobhasan CTF for a period of 3 years and the total estimated value of the said Award is approximate Rs 40.73 crore.

Price as on 12 Apr, 2022 01:19 PM, Click on company names for their live prices.

STOCK IN FOCUS: ESCORTS

Rakesh Jhunjhunwala sells 3.75% stake in Escorts open offer

The Odisha government signed an agreement with Bharat Petroleum Corporation Ltd (BPCL) for exploring green energy possibilities in the state. The Memorandum of Understanding (MoU) was signed between Industrial Promotion and Investment Corporation of Odisha Ltd (IPICOL) Managing Director Bhupendra Singh Poonia and BPCL’s Executive Director Renewable Energy Amit Garg on Monday.

Price as on 12 Apr, 2022 12:55 PM, Click on company names for their live prices.

Top 10 gainers on NSE at this hour

Price as on 12 Apr, 2022 12:39 PM, Click on company names for their live prices.

AB Capital Q4 business update; stock up 2%

Overall lending book (NBFC and Housing) grew 10% year on year, to approx Rs. 66,900 crore
Total gross written premium of life insurance and health insurance grew 24% year on year to over Rs. 13,700 crore in FY22
Overall Mutual Fund assets under management grew 10% year on year, to Rs. 2,95,805 Crore in Q4 FY22

Market live updates: Top 5 losers from the NBFC space in afternoon trade

Price as on 12 Apr, 2022 12:02 PM, Click on company names for their live prices.

STOCK IN FOCUS: TATA MOTORS

The Tata Motors Group global wholesales in Q4 FY22, including Jaguar Land Rover, were at 3,34,884 nos., higher by 2%, as compared to Q4 FY21.

Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Q4 FY22 were at 1,22,147 nos., higher by 12%, over Q4 FY21.

Global wholesales of all passenger vehicles in Q4 FY22 were at 2, 12,737 nos., lower by 4% as compared to Q4 FY22.

Global wholesales for Jaguar Land Rover were 89,148 vehicles (**JLR number for Q4 FY22 includes CJLR volumes of 12,622 units). Jaguar wholesales for the quarter were 19,570 vehicles, while Land Rover wholesales for the quarter were 69,578 vehicles.

Telco stocks down despite Trai slashing base price of airwaves

Telecom stocks fell in morning trade, with experts saying that the regulator’s fresh prices for existing bands are still too steep. Reliance Industries, the parent of telecom market leader Reliance Jio, was trading 1.5% lower, while Bharti Airtel was down 1.1% and Vodafone Idea lost 3%.

Late Monday, the Telecom Regulatory Authority of India (Trai) recommended slashing the base price of premium 3.3-3.67 Ghz airwaves by nearly 36% and cutting the rate of the coveted 700 Mhz spectrum by 40% in a bid to spur India’s mobile phone companies to bid aggressively in the upcoming 5G airwaves sale.