Nifty50 on Friday failed to capitalise on a gap-up start, as it ended up forming a bearish candle on the daily chart, with a long upper wick, reflecting selling at higher level. But analysts took a sign of relief, as the index did not see a follow-up selling after breaking a key range in the previous day. Analysts said the level of 16,600 will be a key support to watch out for going ahead.
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Wall Street falls at open as Big Tech stocks weigh
- The Dow Jones Industrial Average fell 206.89 points, or 0.61%, at the open to 33,854.17.
- The S&P 500 opened lower by 29.74 points, or 0.69%, at 4,270.43, while the Nasdaq Composite dropped 177.33 points, or 1.37%, to 12,787.52 at the opening bell.
Musk expected to serve as temporary Twitter CEO after deal closes
Elon Musk is expected to serve as Twitter Inc’s temporary chief executive officer for a few months after he completes his $44 billion acquisition of the social media firm, CNBC reported.
Q4 EARNINGS: CEAT
- Revenue at Rs 2,592 cr vs Rs 2,290 cr, up 13.2% YoY
- EBITDA at Rs 187 cr vs Rs 261 cr, down 28.1% YoY
- PAT at Rs 25 cr vs Rs 153 cr, down 83.5% YoY
- EBITDA Margin at 7.2% vs 11.4%, down 416 bps YoY
JUST IN: LIC IPO fully subscribed on Day 2
#LIC IPO fully subscribed on Day 2 @LICIndiaForever #LICIPO #StockMarket https://t.co/Bp905bJMTw
— ET NOW (@ETNOWlive) 1651754851000
Tech View: Nifty50 forms bearish candle, support seen at 16,600
Nifty50 on Friday failed to capitalise on a gap-up start, as it ended up forming a bearish candle on the daily chart, with a long upper wick, reflecting selling at higher level. But analysts took a sign of relief, as the index did not see a follow-up selling after breaking a key range in the previous day. Analysts said the level of 16,600 will be a key support to watch out for going ahead.
BOE Hikes Rates to 1% as It Warns of Growing Recession Risk
Bank of England raises key rate by 25 bps to 1% vs est of 1%, sees UK #economy contracting 0.25% in 2023 Six BOE o… https://t.co/6XhvtySRJT
— ET NOW (@ETNOWlive) 1651748997000
Rupee surges 16 paise to close at 76.24 against US dollar
MARKETS TODAY
#MarketsWithETNOW | #Nifty sheds over 250 points from day's high to close flat near 16,700. Take a look at how benc… https://t.co/lLVQ1Pg7Mc
— ET NOW (@ETNOWlive) 1651745038000
Q4 EARNINGS: MARICO
- PAT at Rs 251 cr vs ET NOW Poll of Rs 248 cr
- Revenue at Rs 2,161 cr vs ET NOW poll of Rs 2,166 cr
- EBITDA at Rs. 346 cr vs Rs. 319 cr, up 8.5% YoY
- EBITDA Margin at 16% vs 15.9%, up 16 bps YoY
At 52-week highs
Price as on 05 May, 2022 03:43 PM, Click on company names for their live prices.
Top movers of the day
Price as on 05 May, 2022 03:43 PM, Click on company names for their live prices.
Stocks at 52-week lows
Price as on 05 May, 2022 03:42 PM, Click on company names for their live prices.
Sector View: Realty bleeds, IT shines
Top Nifty50 performers & laggards
CLOSING BELL: Top Sensex gainers & losers
CLOSING BELL: Nifty at 16,683
CLOSING BELL: Sensex gives up day’s gain, ends marginally higher
JUST IN: LIC IPO TO ACCEPT BIDS ON SUNDAY
Q4 EARNINGS: DABUR (Cons YoY)
#EarningsWithETNOW | Dabur Q4: Revenue at Rs 2518 cr vs Rs 2337 cr, up 7.7%. Vol growth at 2% Take a look at the… https://t.co/6aqACFnmPw
— ET NOW (@ETNOWlive) 1651740961000
Q4 EARNINGS: ADANI POWER
- Revenue: Rs 10,598 cr vs Rs 6,374 cr
- Profit: Rs 4,646 cr vs Rs 13.13 cr
- EBITDA: Rs 7,942 cr vs Rs 2,143 cr
Central Bank of India to close 13% of its branches
Price as on 05 May, 2022 02:20 PM, Click on company names for their live prices.
Sensex Today LIVE: Index off 500 points from day’s high
Market LIVE Updates: Tata Power Solar Systems Limited, one of India’s largest integrated solar companies and a wholly-owned subsidiary of Tata Power, bagged India’s largest single solar EPC order of 1GW for approx. Rs 5,500 crore from SJVN Limited.
Price as on 05 May, 2022 01:37 PM, Click on company names for their live prices.
European stocks rally at open on easing Fed concerns
European stocks rose sharply at the open Thursday after strong gains elsewhere as the Federal Reserve downplayed concerns over aggressive interest rate hikes to tackle soaring inflation. London’s benchmark FTSE 100 index jumped 1.6 percent to 7,611.14 points. In the eurozone, Frankfurt’s DAX index soared 2.3 percent to 14,291.69 points and the Paris CAC rallied 2.4 percent to 6,547.67.
ArcelorMittal Q1 Results: Net income jumps over 80% to $4,125 million
Global steel giant ArcelorMittal on Thursday posted 80.52 per cent growth in net income at USD 4,125 million (about Rs 31,350 crore) for the first quarter ended March 31, 2022. It had posted a net income of USD 2,285 million for the year-ago quarter, the company said in a statement. “ArcelorMittal recorded net income for 1Q 2022 of USD 4,125 million as compared to…a net income of USD 2,285 million for 1Q 2021,” the Luxembourg-based firm said.
Expect another 100 bps rate hike by RBI: Indranil Sengupta
We obviously had rate hikes but although yesterday’s timing was a surprise, we are looking at another 100 bps of rate hikes which will take the terminal repo rate to 5.4% in FY24. As far as inflation goes, we are around 6% average for this year. It is not so much inflation as the fact that the rates are too low. That is why there are negative real rates and once the Fed starts to hike, all emerging market central banks including the RBI have to follow suit.
Market LIVE Updates: Zomato, Info Edge, SpiceJet among stocks that hit 52-week lows
Tata Motors signs pact with e-commerce firms for 39,000 AC EVs (Source: ET NOW)
Price as on 05 May, 2022 12:18 PM, Click on company names for their live prices.
CarTrade Tech tanks 10% after company reports loss in Q4
Shares of CarTrade Tech nosedived about 10 per cent in early trade on Thursday after the company reported a disappointing performance in March 2022 quarter. The company reported a net loss of Rs 31.68 crore for the quarter ended March 31, 2022. It reported a net profit of Rs 10.21 crore in the same period previous year. Following the development, shares of CarTrade Technologies tumbled about 10 per cent to Rs 573.50, before trading at Rs 589.55 at 9.50 am. The scrip had settled at Rs 636.10 on Wednesday.
Sona Comstar partners with US-based C-Motive Technologies to develop electrostatic drive motors
Auto components major Sona Comstar on Thursday said it has partnered with US-based start-up C-Motive Technologies to develop electrostatic drive motors for electric vehicle applications. The serial production of the electrostatic drive motors is expected to start in 2026, the company said in a statement. Under the partnership, Sona Comstar will also participate in C-Motive’s latest financing round, the company said without disclosing the details.
Market LIVE Updates: PSP Projects bags new order worth Rs 97.3 crore
Price as on 05 May, 2022 12:05 PM, Click on company names for their live prices.
RBI rate hike was expected, the timing was not known: Govt sources (ET NOW)
#ETNOWExclusive | #RBI rate hike was expected, the timing was not known. Govt is monitoring #bond yields, action if… https://t.co/WYy03BP2zx
— ET NOW (@ETNOWlive) 1651731277000
Stock Alert: L&T bags order worth up to Rs 5,000 cr for Bullet Train Project
The Railways Business of L&T Construction has secured a·contract from the National High-Speed Rail Corporation Limited to construct 116 Route Km of High-Speed Ballastless Trackworks for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project, popularly referred to as the Bullet Train Project. Order is worth Rs 2,500 to 5,000 crore. Stock traded 2% higher on BSE.
Sensex today LIVE: Most index stocks trade in the green
TechM, Tata Steel, Infosys top Sensex gainers at this hour. The index is trading over 800 points higher on less-than-expected hawkish US Fed.
LIC IPO subscription status check: Issue subscribed 75%
- QIB: 34%
- HNI: 29%
- Retail: 69%
- Employee: 1.46x
- Policyholder: 2.26x
Banks with higher CASA mix and healthy mix of floating loans are well positioned to navigate through the rising rate environment. Though we expect a calibrated increase in term deposit rates – given ample liquidity – the cost of SA is likely to stay unchanged. We believe that large private banks with strong liability franchises are well placed to gain incremental market share. Banks with a higher mix of floating rate book stand to benefit from this turn in rate cycle, which is likely to progress at a rapid pace. We maintain our preference for ICICI Bank and SBI.
– Motilal Oswal
Berkshire buys more Occidental shares, boosts stake to 15.2%
- Warren Buffett’s Berkshire Hathaway Inc has bought another 5.9 million shares of Occidental Petroleum Corp, boosting its stake in the oil company to about 15.2%.
- The purchases were made on Monday and Tuesday and cost about $336 million, Berkshire said in a regulatory filing on Wednesday night.
- Following the purchases, Berkshire owned about 142.3 million Occidental shares worth approximately $8.8 billion, plus $10 billion of preferred stock it acquired in 2019 to help finance Occidental’s purchase of Anadarko Petroleum Corp.
LIC IPO subscription status: Issue subscribed 71% so far on Day 2
As of Wednesday, investors made bids for 10,86,91,770 equity shares or 67 per cent compared to the 16,20,78,067 equity shares offered for subscription. Among the five categories, employees and policyholders quota was fully subscribed. Retail quota saw 60 per cent subscription while non-institutional investor quota was subscribed 27 per cent. QIB quota saw 33 per cent bids so far.
These stocks defy market mood, crack up to 18%
Price as on 05 May, 2022 10:06 AM, Click on company names for their live prices.
Market View: V K Vijayakumar, Chief Investment Strategist at Geojit…
Read More: Sensex today: Closing Bell: Nifty50 forms bearish candle, support seen at 16,600 – The
