Market HIGHLIGHTS: Sensex ends 260 pts up, tops 48,800, Nifty at 14,581; TCS jumps 4%, Infosys down 2.5%

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Updated: April 15, 2021 4:18:03 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in positive territory on weekly options expiry on Thursday

Share Market Today, Share Market LiveThe trend among Nifty sectoral indices was mixed with Nifty Pharma up 1.4 per cent while Nifty Auto fell over 1 per cent.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended over a half a per cent up on weekly options expiry on Thursday. BSE Sensex ended up 260 points or 0.53 per cent at 48,804, while the broader Nifty 50 settled at 14,481. TCS, ONGC, ICICI Bank, HDFC Bank, Dr Reddy’s Laboratories, Housing Development Finance Corporation (HDFC), Axis Bank and HCL Tech were the top Sensex gainers. While Infosys, IndusInd Bank, Maruti Suzuki, Nestle India, Bajaj Finance, UltraTech Cement and ITC were among index laggards. The trend among Nifty sectoral indices was mixed with Nifty Pharma up 1.4 per cent while Nifty Auto fell over 1 per cent.

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    16:18 (IST)15 Apr 2021
    Last hour surge lifts Sensex, Nifty on weekly expiry day; here’s what analysts make of today’s trade

    A smart recovery in the last hour of trade, primarily driven by buying in metal and pharma stocks, helped BSE Sensex and Nifty 50 to end near day’s high on weekly expiry day. BSE Sensex ended up 260 points or 0.53 per cent at 48,804, while the broader Nifty 50 settled at 14,481. Index heavyweights such as HDFC Bank, Tata Consultancy Services (TCS) ICICI Bank, Housing Development Finance Corporation (HDFC) and Reliance Industries Ltd (RIL) contributed the most to the indices’ gain. 

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    15:42 (IST)15 Apr 2021
    Sensex tops 48,800, Nifty ends at 14,481

    BSE Sensex ended up 260 points or 0.53 per cent at 48,804, while the broader Nifty 50 settled at 14,481

    15:38 (IST)15 Apr 2021
    Nifty has a good base near 14460-14350

    One more positive session witnessed today as the index closed a day at 14581 with gains of more than half per cent and formed a bullish candle for the second consecutive day. The index has formed a good base near 14460-14350 zone if managed to sustain the above-said levels we may see a northward move towards 14700-14800 zone which is an immediate and strong hurdle on the higher side. The overall range for Nifty is coming in between 14250 on the downside and 15k on the higher side. Rohit Singre, Senior Technical Analyst at LKP Securities

    15:25 (IST)15 Apr 2021
    Auto Stocks most hit due to wider economic restrictions

    Domestic equities looked to be resilient amid high volatility. Benchmark indices recovered sharply from today’s low mainly led by rebound in financials and pharma indices. Auto Stocks were worst hit today mainly due to wider economic restrictions imposed in Maharashtra, which contributes over 20% of the production of the automobile of the country. Infosys witnessed heavy profit booking after missing street’s estimate in 4QFY21 earnings. However, strong buying was seen in other IT majors due to sustained growth prospects. The volatility index soared over 2%. Binod Modi, Head Strategy at Reliance Securities

    15:15 (IST)15 Apr 2021
    If Nifty sustains above 14,500, it may touch 14,800

    The market continued to witness the resilience and stayed above the Nifty 50 Index level of 14300. The short-term technical condition of the market shows that the expected range of the market is likely to range between 14300 and 14800. The market breadth to improve slightly and manage to stay above the 14500 levels. Sustaining above 14500, Market to gain momentum, leading to an upside projection till 14800 levels. Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited

    15:14 (IST)15 Apr 2021
    3 states raise a total of Rs1,700 crore at auction of state government securities

    Three states raised a total of Rs.1,700 crores at the auction of the state government securities or state development loans (SDLs) held today. This was the second auction for FY22. The borrowing in the first two auctions of FY22 has been starkly lower than that in the same period of FY21. Rs. 44,688 crs was cumulatively raised by 20 states and 1 UT in the first two auctions of FY21 (7 and 13 April’20). This was 87% more than that the Rs. 5,700 crs raised by 3 states and 1 UT in the first two auctions of the current financial year (8 and 15 April’21). In FY21, 28 states and 2 UTs (Union Territories) cumulatively raised a total of Rs.7.98 lakhs crores via market borrowings, 26% more than the borrowings of Rs. 6.35 lakh crores in FY20. CARE Ratings

    15:10 (IST)15 Apr 2021
    Could inflation throw new challenges in FY22, what could be its various drivers, how does this impact forecasts?

    We decipher these through our various frameworks which suggest the current underlying landscape is one of rising price pressures from goods and, more recently, from services but these still seem quite concentrated (particularly for services). Various factors like input costs, price hikes, health of the services sector, INR/USD, crop output, government tax and supply management strategies, etc. could impact inflation but the current path of the pandemic and vaccinations make it highly uncertain. Thus, FY22 inflation forecasts could be more about views, less about data, consequently have a higher margin of error and thus have to carefully interpreted. We see a similar issue in gauging India’s medium-term inflation dynamics too. Sreejith Balasubramanian, Economist -- Fund Management, IDFC AMC

    15:08 (IST)15 Apr 2021
    Indian real estate witness private equity investments of $3,241mn in Q1 2020: Knight Frank India

    Knight Frank India in its latest research report, ‘Investments in Real Estate - Trends in PE Investment (Q1 2021 update),’ recorded that Indian real estate attracted private equity (debt + equity) investments of USD 3,241 million across 19 deals in Q1 2021 (January – March) period. In the first quarter of 2021, the investment in the sector has grown by 16 times compared to USD 199 million in Q1 2020.

    15:07 (IST)15 Apr 2021
    WPI comes in at 7.4%, a sudden spike with all 3 groups registering high inflation this month

    WPI inflation is likely to remain elevated on the back of elevated global commodity prices and a negative base-effect for the next couple of months. Global crude oil prices are likely to remain rigid with the resumption of economic activities and an improved demand outlook. The imposition of restrictive measures amid surging coronavirus infections and resultant supply disruptions could add to the existing inflationary pressures. CARE Ratings

    14:54 (IST)15 Apr 2021
    Govt overachieves annual MSE procurement target for 3rd straight yr

    Central ministries, departments, and central public sector enterprises (CPSEs) have overachieved their annual procurement target of 25 per cent from micro and small enterprises (MSEs) for the third consecutive year. Procurement from MSEs during FY21 stood at 31.25 per cent up from 30.17 per cent in FY20, and 26.32 per cent in FY19. FY18 purchases from MSEs were 23.11 per cent of the government’s overall annual procurement during the year. 

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    14:50 (IST)15 Apr 2021
    Infosys expects headwinds from salary increase

    FY22 revenue growth guidance of 12% to 14% YoY in CC is 1% higher than our expectation. However, the EBIT margin guidance of 22%-24% is a miss and lower than 24.5% in FY21. Infosys expects headwinds from salary increase (normal cycle in FY22), ramp-up of large deals and select costs, like travel, coming back in H2FY22. IDBI Capital

    14:48 (IST)15 Apr 2021
    TCS margin performance will sustain

    We believe TCS margin performance will sustain as 1) Strong uptick in offshore delivery, 2) Well managed supply side challenges-fresh hiring, reskilling, lower-wage inflation, lower attrition, 3) Strong efficiencies in sales, deal transition and delivery with WFH, 4) Structural cost savings benefits (employee pyramid, travel costs, marketing costs etc). Prabhudas Lilladher

    14:44 (IST)15 Apr 2021
    Bernie Madoff, architect of $65 billion Ponzi scheme, dies in prison: How he deceived people

    The tale of fraudsters on Wall Street, or any other stock market across the globe, is usually led by a promise that is too good to be true. But, Bernie Madoff was different. “His camouflage was absolutely brilliant,” Diana B Henriques, the author of Wizard of Lies: Bernie Madoff and the Death of Trust, told CNBC in an interaction. “He never offered his investors something that was too good to be true. It was good enough to be true and good enough to be a trap,” she said. Madoff ran an investment advisory that duped people of $65 billion.

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    14:41 (IST)15 Apr 2021
    Brokerage view on Alkem Laboratories

    Alkem is the seventh-largest branded pharma company in India and among the leaders in its major therapy areas—anti-infectives, gastro-intestinal (GI), vitamins and minerals (VMN), and pain; they account for 75% of its branded sales. For more than 15 years, the company has defended the number 1 position in anti-infectives (~38% of domestic sales; 10% market share) by successfully tapping into the largest sub-therapy area, i.e. anti-bacterial. At the same time, GI and VMN have injected growth in the company. Edelweiss Securities

    14:30 (IST)15 Apr 2021
    Nifty PSU Bank top sectoral loser

    Nifty PSU Bank was the top sectoral loser at this hour, down 1.37 per cent.

    14:28 (IST)15 Apr 2021
    TCS, ONGC, ICICI Bank among top Sensex gainer

    TCS, ONGC, ICICI Bank, HDFC Bank, Housing Development Finance Corporation, Sun Pharma, Dr Reddy's lab were among top Sensex gainers.

    13:56 (IST)15 Apr 2021
    Wholesale inflation surges to a 102-month high

    In a material upside surprise, the wholesale price index surged 7.4% y/y in March, reaching a 102-month high. The March print also ensured that WPI inflation will exceed CPI inflation (5.5% y/y) after running below it for 23 months. Adverse base effects and strong sequential momentum drove WPI inflation higher, with sharp m/m price gains continuing in the fuel and manufacturing segments, which could become a cause for concern. We expect WPI inflation to continue to rise for a few more months, possibly reaching double digits the first time since September 2011 in May 2021 .Rahul Bajoria, Chief India Economist, Barclays

    13:51 (IST)15 Apr 2021
    Any near-term correction in market should be treated as opportunity of bargain trading

    Notwithstanding some adverse impact on economic activities for one or two months, a sharp pickup in capital expenditures in current fiscal is still on the cards. A meaningful pickup in government’s capex and recovery in investment and consumption cycle are expected support corporate earnings in ensuing quarters. Hence, earnings recovery in FY22E still remains promising. Therefore, any near-term possible correction in the market should be treated as opportunity of bargain trading. Investors must focus on quality stocks with robust earnings visibility and margins of safety. Binod Modi, Head Strategy at Reliance Securities

    13:50 (IST)15 Apr 2021
    Surge in COVID-19 cases dents investors’ sentiment

    A continued surge in second wave of COVID-19 cases in the country has certainly dented investors’ sentiments. However, government’s strong effort to expedite vaccination progress in the country by allowing multinational vaccines in domestic markets and absence of complete lockdown in Maharashtra could offer some comfort to equities. However, risk of other states taking steps of wider economic restrictions continues to persist, which may continue to weigh on investors’ sentiments in the near term. Unlike last year, states seem to be reluctant this time for complete lockdown due to wider ramification on economic activities. Further, current level of mobility restrictions imposed at different states and the government’s focus to improve supply of vaccine in the country should be helpful to control outbreak in coming weeks and essentially should not lead to large economic damage. Binod Modi, Head Strategy at Reliance Securities

    13:47 (IST)15 Apr 2021
    Rakesh Jhunjhunwala cuts stake in Titan, sells Rs 344 crore Titan shares in Jan-Mar 2021

    Rakesh Jhunjhunwala has reduced stake in jewellery and watchmaker Titan Company during January-March 2021. Ace investor Rakesh Radhyshyam Jhunjhunwala has sold 22.50 lakh shares in the fourth quarter of the previous fiscal. Jhunjhunwala has slashed his stake to 3.52 crore shares or 3.97 per cent stake, at the end of March quarter, from 3.75 crore shares or 4.23 per cent stake in Titan Company in December quarter, according to the shareholding pattern of the public shareholders. His wife Rekha Jhunjhunwala continues to hold 96.40 lakh shares or 1.09 per cent stake in Titan.

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    13:28 (IST)15 Apr 2021
    Infosys, IndusInd Bank top drags

    Tech major Infosys was down over 3% along with IndusInd bank on Thursday. Infosys is down on account of profit booking after the run-up in the stock till its quarter result announcement yesterday. 

    13:04 (IST)15 Apr 2021
    Buy HCL Technologies ~ Angel Broking

    HCL Tech is amongst the top four It services companies based out of India and provides a vast gamut of services like ADM, Enterprise solutions, Infrastructure management services etc. Management has highlighted that demand and supply related issues are now over for the company and the deal pipeline has improved significantly since September led by cloud related services. Management has guided for 2.0-3.0% qoq growth in revenue in constant currency terms for the rest of the year providing visibility.

    Target price - Rs 1,161 per share | Upside - 18.2% ~ Angel Broking

    12:39 (IST)15 Apr 2021
    Bharti Airtel restructures biz with focus on digital opportunities; is value unlocking on cards?

    Telecom major Bharti Airtel on Wednesday announced a new corporate structure with an eye on digital opportunities ahead. Under the new structure, the digital and infrastructure assets of Bharti Airtel will be merged into the parent entity, while the telecom business will be pushed down to a wholly-owned subsidiary. Bhati Airtel has said that it aims to unlock value for shareholders through the move and investors are watching how the new structure will help the company grow its digital assets and pave way for possible future monetisation.

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    12:16 (IST)15 Apr 2021
    2nd COVID-19 stimulus package likely post second corona wave

    In early covid stimulus package Finance ministry announced a stimulus package of 20 lakh crore which is 10% of GDP of India. We expect this year's fiscal stimulus package will not be as big as what was last time as India fiscal deficit is already at sky High. Finance minister Nirmala Sitharaman already increased the fiscal deficit target from 7.96 lakhs crores to 18.49 lakhs crores in her budget speech. So we don’t expect a very big 2nd wave covid stimulus package from the Finance Minister this time along with this we suggest retail investors to be cautious on the market. Yash Gupta Equity Research Associate, Angel Broking Ltd 

    12:02 (IST)15 Apr 2021
    S&P 500 earnings expected to surge 17.7% on year from pandemic lows; these sectors may lead recovery

    Wall Street listed companies are set to bounce back strongly after the sharp 14.7% fall in earnings reported in the first quarter of 2020. Analysts at Wells Fargo estimate that S&P 500 earnings for the January-March quarter of 2021 will surge a massive 17.7%, helped by the low base. Meanwhile, sectors such as financials and material, among the hardest hit during the pandemic, are expected to lead the recovery. “From a historical perspective, earnings are expected to exceed consensus estimates, following a similar pattern to that set after the Great Financial Crisis,” Krishna Gandikota, Investment Strategy Analyst at Wells Fargo, wrote.

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    11:52 (IST)15 Apr 2021
    Indian rupee, the worst-performing Asian currency in April 2021

    The Indian Rupee has been termed as the worst-performing Asian currency this month as it weakened towards the lower levels of 75.54. Primary reason for the downfall of Rupee could be attributed to RBI's announcement of a formal bond purchase plan in the recent policy. They also hinted towards the uncertainty over India’s growth outlook. Also, economists have cut their forecast for the current quarter growth amid restrictions to contain the coronavirus which has created worries in the minds of investors. All the above factors are expected to keep the rupee under pressure for some more time unless and until the RBI decides to step in. In the future, a supportive policy mix along with government measures and robust vaccination drive could help in the country's recovery. Heena Naik, Research Analyst - Currency, Angel Broking Ltd

    11:23 (IST)15 Apr 2021
    We expect a better Q4 FY21 for EPC, product companies

    Aided by economic activity picking up, operations have largely risen to pre-Covid levels. With this, we expect a better Q4 FY21 for EPC and product companies. Orders and the pipeline continue to be healthy due to pro-growth government policies with higher capex allocation in the Union budget, followed by the PLI scheme to boost domestic manufacturing. Visible signs of recovery can be seen in private capex, with greater spends on automation and digitisation. Sectors showing order traction are railways; power T&D, FGD, pharma, auto, F&B, data centres, water and oil & gas. We are cautious, though, regarding the second wave of Covid-19. Our top picks are L&T, HWA, KOEL, Graphite and VAMP. Anand Rathi Financial Services

    11:15 (IST)15 Apr 2021
    Infosys share price top Sensex loser today, tumbles over 5% intraday; why Infosys stock is falling

    Infosys share price tumbled as much as 5.6 per cent intraday to Rs 1,320.35 apiece on BSE on Thursday, a day after IT giant posted 17 per cent on-year rise in net profit in the January-March quarter. Infosys stock was the top Sensex loser on the back of lower consolidated profit growth as compared to estimates and profit booking. Also, in the overnight trade, Infosys ADR plunged 6 per cent to $1731 per share.

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    10:39 (IST)15 Apr 2021
    Downgrade Dr Lal PathLabs to ‘reduce’ with TP at Rs 2,333

    DLPL stock has significantly outperformed its peers and the broader market since the start of the pandemic. Since mid-Feb 2020 (when fear pandemic started), the stock is up 106% against a Nifty return of 18%. More recently with the start of the second wave, the stock is up 38% since mid Mar 2021 against a Nifty return of -4% over the period. As a result, DLPL’s valuation has increased substantially to 79.5x one-year-forward earnings compared to 30- 60x in the pre-pandemic period.


    10:30 (IST)15 Apr 2021
    Gold prices edge higher, still down Rs 9,400 per 10 gm from record high; silver rates gain

    Gold prices were trading higher in India on Thursday, following the international spot prices. On MCX, gold June futures were trading Rs 155 or 0.33 per cent up at Rs 46,763 per 10 gram, against the previous close of Rs 46,608. While silver May futures were trading at Rs 67,826 per kg, up Rs 188 or 0.28 per cent. MCX silver closed at Rs 67,638 in the previous session. Analysts believe gold traders need more catalysts to retain the uptrend. The resurgence in talks of Biden’s infrastructure plan will activate buying pressure in gold

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    09:55 (IST)15 Apr 2021
    Pharma and IT stocks could be safe defensive plays

    Amidst the negative of an alarming rise in Covid cases, a relief from the market perspective is that there is no large- scale lockdown. But the massive restriction of economic activity in the economically significant state of Maharashtra is bound to have its impact on growth and earnings. The market knows this, but what is unknown is how long will this last and how quickly we can get ahead of the infection cases. The market is driven by the hope that in this race between the pandemic and vaccination, the latter will ultimately win. But what price we will have to pay for this is clouded in profound uncertainty. Pharma & IT could be safe defensive plays at this juncture. Investors can move on to economy-facing stocks when the daily Covid cases start steadily coming down. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    09:37 (IST)15 Apr 2021
    If USD-INR crosses 75.20, it may move towards 75.50-75.80

    Despite the dollar remaining on the back foot it did not help rupee much as domestically rising Covid numbers have raised concern over economic activity and growth. Any further hamper to the economic activity will in turn slow down the pace of FII inflows which had so far supported the Rupee. It will be watchful whether RBI shows any intervention for decline of rupee with its high reserves and control the losses in rupee. If USDINR breaks the 75.20 levels successfully and sustains above therein, then we might see the pair moving towards 75.50 to 75.80 levels.: Amit Pabari, managing director, CR Forex Advisors

    09:30 (IST)15 Apr 2021
    Nifty Metal index jumps 2.6%

    Barring Nifty IT and Nifty Auto, all the sectoral indices were trading in the positive territory. Nifty Metal index jumped 2.6 per cent.

    09:29 (IST)15 Apr 2021
    ONGC, Kotak Mahindra Bank, SBI top Sensex gainers

    ONGC, NTPC, Kotak Mahindra Bank, State Bank of India (SBI), Housing Development Finance Corporation (HDFC) were among top Sensex gainers.

    09:27 (IST)15 Apr 2021
    Infosys share price top Sensex loser, falls 4%

    Infosys share price fell 4 per cent to Rs 1,344 apiece on Thursday after Infosys ADR ended 6 per cent down in overnight.

    09:24 (IST)15 Apr 2021
    Sensex, Nifty turn positive after opening in red

    BSE Sensex was trading 90 points or 0.19 per cent higher at 48,635, while Nifty 50 surged 47 points or 0.33 per cent to 14,552

    09:19 (IST)15 Apr 2021
    Petrol and diesel price today 15 April 2021: Fuel rates cut after 15 days; check price in Mumbai, Delhi here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were cut today after having remained unchanged for the last fifteen consecutive days. Today Petrol price in Delhi is Rs 90.40 per litre, 16 paise cheaper than yesterday, while Diesel price was at Rs 80.73 per litre, down 14 paise. The previous cut in fuel prices had come on March 30. Fuel prices remain the highest in Mumbai at Rs 96.83 per litre for Petrol. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.

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    09:07 (IST)15 Apr 2021
    Infosys, IndusInd Bank, Kotak Bank top Sensex losers in pre-open

    Infosys, IndusInd Bank, Power Grid, Kotak Mahindra Bank were among top BSE Sensex losers in pre-openening session

    09:04 (IST)15 Apr 2021
    Sensex falls over 300 points in pre-open

    BSE Sensex was trading 328 points or 0.68 per cent down at 48,216, while Nifty 50 was trading above 14,450 in pre-opening session on Thursday.

    Check live Sensex, Nifty levels

    08:46 (IST)15 Apr 2021
    Gold is struggling to sustain above $1750/oz

    COMEX gold trades little changed near $1735/oz after a 0.6% decline yesterday. Gold eased back after failing to sustain above $1750/oz. Weighing on gold price is increasing optimism about the US economy and continuing ETF outflows. However, supporting price is Fed’s emphasis on keeping interest rates low and worsening virus situation. Gold is struggling to sustain above $1750/oz amid mixed factors however rising virus cases and loose monetary policy stance may continue to support prices. Ravindra Rao, VP- Head Commodity Research at Kotak Securities

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