Share Market HIGHLIGHTS: Sensex ends 537 pts down, below 57000, Nifty at 17038; TCS, Tata Steel cap losses

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and NSE Nifty 50 ended nearly one per cent down on Wednesday, a day before monthly F&O expiry of April contracts.

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Bank Nifty was down by 0.8 per cent, while Nifty Auto, and Nifty Financial Services were down 1% each.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and NSE Nifty 50 ended nearly one per cent down on Wednesday, a day before monthly F&O expiry of April contracts. BSE Sensex tanked 537.22 points or 0.94 per cent to settle at 56819.39, while NSE Nifty 50 lost 162 points or 0.94 per cent to finish trade at 17,038. On the S&P BSE Sensex, out of 30 stocks, 25 stocks ended in red and 5 in green. The stocks of Tata Steel, Asian Paints, HCL Technologies, Tata Consultancy Services (TCS), and Kotak Mahindra Bank finished trade in the positive territory. On the flip side, Bajaj Finance was the top loser, followed by Bajaj Finserv, ICICI Bank, Titan Company, Dr Reddy’s Laboratories. Bank Nifty was down 1.03 per cent. India VIX, the volatility index, surged 7.4 per cent to settle at 20.61 levels

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15:40 (IST) 27 Apr 2022
Closing bell: Sensex, Nifty end 1% down

BSE Sensex tanked 537.22 points or 0.94 per cent to settle at 56819.39, while NSE Nifty 50 lost 162 points or 0.94 per cent to finish trade at 17,038.

15:27 (IST) 27 Apr 2022
Top laggards on Sensex

Bajaj Finance was down more than 7% as the worst-performing Sensex stock on Wednesday. Bajaj Finserv, ICICI Bank, Titan, and Dr Reddy's were the other laggards.

15:00 (IST) 27 Apr 2022
India VIX soars

India VIX regained 20 levels on Wednesday as bears pulled benchmark indices lower. The volatility gauge was up 6%.

14:25 (IST) 27 Apr 2022
Land, labour and education key to support India’s economic growth as Ukraine war lingers: IMF

The International Monetary Fund (IMF) said India needs to strengthen its labour, land and education sector, with a focus on improving participation of women in the labour force, if it wants to improve its growth potential. The three areas are potential bottlenecks that could hamper India’s growth, IMF said. Furthermore, putting focus on infrastructure investment and keeping a commodity fiscal stance could be an appropriate action to support the vulnerable households, it added. For FY 2023, IMF cut growth outlook for India last week by 80 basis points to 8.2 per cent amid spillovers from the Russia Ukraine war. Read full story

14:11 (IST) 27 Apr 2022
52-week high, 52-week low: Reliance, Adani Power among 123 BSE stocks at new highs; Future Retail at new low

BSE Sensex and Nifty 50 were trading nearly 1 per cent down on Wednesday, dragged by selling in index heavyweights such as Bajaj Finance, ICICI Bank, Infosys, Axis Bank and State Bank of India (SBI), among others. So far in the trade today, BSE Sensex hit a day’s low of 56,795.97, and NSE Nifty 50 fell to 17,016.65. Only stocks of index heavyweight Reliance Industries (RIL) touched a fresh all-time high of Rs 2,827.10 apiece, surpassing its previous high of Rs 2,800 touched on 22 April. Read full story

13:29 (IST) 27 Apr 2022
LIC IPO: What prompted the government to cut issue size by one-third, valuation by half?

The much-awaited LIC IPO is set to open next week on 4 May, albeit a much smaller one than the one proposed earlier. The public sector behemoth filed its Red Herring Prospectus (RHP) with capital market regulator SEBI on Tuesday evening. However, a lot has changed since LIC filed its DRHP earlier this year in February. LIC is now looking to sell 221 million equity shares, down from 316 million it had planned earlier. The issue size has been trimmed down to 3.5% of equity, from 5% planned earlier. Read full story

13:22 (IST) 27 Apr 2022
Adani Power, Jindal Steel stocks likely to be added to MSCI indices in May, Reliance weightage to increase

Adani Power, Jindal Steel & Power, and Tata Elxsi stocks are the most likely to be added to the MSCI indices in the upcoming semi-annual index review, Edelweiss Alternative & Quantitative Research said. Analysts believe the inclusion of the three stocks could result in a total inflow of $490 million. “Going by our past experience of analysing semi-annual reviews, we believe that the MSCI May 22 SAIR market cap cut-off date has already been selected in the previous week,” said Abhilash Pagaria of Edelweiss Alternative & Quantitative Research in a note. Meanwhile, Reliance Industries is expected to see an increase in its weightage on the indices. 

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12:55 (IST) 27 Apr 2022
Airtel buys stake in Cnergee Technologies

Bharti Airtel said Monday it has acquired a minority stake in cloud-based networking solutions provider Cnergee Technologies. The deal was all cash in which Airtel acquired 7 per cent stake in Cnergee. The company did not disclose the deal value, according to a exchange filing. Airtel's acquisition will enable it to sharpen its NaaS (Network as a Service) proposition for small and medium businesses.

12:22 (IST) 27 Apr 2022
LIC IPO: A lot of investors are expected to come from tier 2 and tier 3 towns

With the LIC IPO coming up, we believe that May will be a record month for demat account openings in recent times. It is a milestone event for Indian Capital markets and is expected to bring millions of new investors. We at Paytm Money are excited for this opportunity as we have built one of the most robust and comprehensive trading and investment platforms in the country. More importantly, given the trust that LIC has built with the common man over the decades, a lot of these investors are expected to come from tier 2 & 3 towns. Varun Sridhar, CEO – Paytm Money

12:13 (IST) 27 Apr 2022
Rainbow Children’s Medicare IPO: Should you subscribe?

If we look at the valuations of the Rainbow Children's Medicare IPO, based on 9MFY22 numbers, the IPO is priced at a Price to Earn 30.4 times and EV/EBITDA of 13.8 times at the upper price band of the IPO, which is in line with a listed peer group. Company revenue and return ratios have improved significantly in 9MFY22 we don’t expect the company can maintain this growth in the near future. Given the expensive valuation, we suggest retail investors not apply for Rainbow Children’s Medicare IPO. We have a “NEUTRAL” recommendation for the IPO. Yash Gupta- Equity Research Analyst, Angel One

11:37 (IST) 27 Apr 2022
From PPF to NPS, smart tax saving options for FY 2022-23

Proper tax planning or choosing the right investment option is surely a daunting task that bothers many of us. While all of us aspire to optimize taxes, only a few smart ones succeed in the mission. The reason may be lack of knowledge/information or struggles in finding the best possible solution.

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11:28 (IST) 27 Apr 2022
Wealth and Investment management software Actlogica raises 3cr in seed funding form Zerodha backed Rainmatter Capital

Actlogica, a wealth and investment management platform, has secured Rs 3 crore in Seed funding from Zerodha backed Rainmatter Capital. “At Rainmatter, we are constantly looking out for innovative tech companies that are working on enabling and encouraging financial inclusion. We are happy to partner with Actlogica team as we strongly believe that the tools and platforms that the team at Actlogica is building can empower a generation of Indian advisors and other financial intermediaries,” said Nithin Kamath, Founder and CEO at Zerodha.

11:07 (IST) 27 Apr 2022
Reliance Industries share price at record high, mcap over Rs 19 lakh crore; should you buy, sell or hold?

Reliance Industries (RIL) share price crossed another record high on Wednesday with the stock touching Rs 2827.10 a piece for the first time. The market cap also crossed Rs 19 lakh crore for the first time in early trading on Wednesday. The company is firing on all cylinders right from its petrol chemical business to telecom business, analysts said. Experts are bullish on the stock and see the stock heading towards Rs 3,000 apiece mark, implying a potential rally of 6 per cent more from current levels. Read full story

11:06 (IST) 27 Apr 2022
Bajaj Finance share price tanks 5% despite in-line Q4 results; should you buy, hold or sell? What analysts say

Bajaj Finance share price tanked 5% on Wednesday after the NBFC posted an 80% on-year growth in net profit at Rs 2,420 crore for the fourth quarter ended March 2022. The board of directors also recommended a dividend of Rs 20 per share (1,000%) of face value of Rs 2 each on equity shares for FY22. Bajaj Finance shares hit an intraday low of Rs 6,855, down 5% from previous close on BSE. Brokerages remain mixed on the stock and see up to 31% upside and 17% downside going forward. Read full story

10:59 (IST) 27 Apr 2022
LIC IPO: Shares trade at premium in grey market; Subscribe for listing gains or long-term dividend?

LIC IPO News Updates: Life Insurance Corp of India has fixed a price band of Rs 902-949 a share of face value of Rs 10 each, for its upcoming Rs 21,000-crore IPO, which opens on 4 May. The IPO size finalised at 3.5% of the company equity is lower than the 5 per cent mentioned by LIC in its draft red herring prospectus (DRHP) filed with the capital market regulator SEBI in February this year.

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10:38 (IST) 27 Apr 2022
Rainbow Children’s Medicare IPO opens; analysts find valuations attractive, growth potential

Rainbow Children's Medicare IPO (Initial Public Offering) opened for subscription today. The Rs 1,581 crore public issue will remain open for subscription till Friday evening. Rainbow Children’s Medicare is a multi-speciality pediatric, obstetrics and gynaecology hospital chain in India. The IPO of the company will be a mix of fresh issuance of equity shares and an offer for sale (OFS) by existing shareholders. Ahead of the issue, Rainbow Children’s Medicare has raised Rs 470 crore from 36 anchor investors. Rainbow Children’s Medicare IPO is the second issue of the current fiscal year. 

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09:49 (IST) 27 Apr 2022
Reliance Industries share price hits all-time high, mcap at Rs 19 lakh cr

Despite weak market momentium, Reliance Industries (RIL) share price hit a fresh record high of Rs 2,827.10 apiece, taking the total market capitalisation of the company to Rs 19 lakh crore

09:31 (IST) 27 Apr 2022
Bank Nifty falls 0.8%

Bank Nifty was down by 0.8 per cent, while Nifty Auto, and Nifty Financial Services were down 1% each.

09:26 (IST) 27 Apr 2022
Bajaj Finance, Maruti Suzuki, Infosys top Sensex losers

Bajaj Finance, Bajaj Finserv, UltraTech Cement, M&M, Infosys, Larsen & Toubro (L&T), Maruti Suzuki were among top index draggers

09:25 (IST) 27 Apr 2022
Only NTPC stocks trade in green

Only NTPC stocks were trading in the green, remaining 29 stocks of 30 BSE Sensex stocks were trading with losses

09:20 (IST) 27 Apr 2022
Sensex, Nifty down nearly 1%

BSE Sensex tanked 467 points or 0.8 per cent to 56,888, while Nifty 50 index gave up 17100 levels on opening

09:14 (IST) 27 Apr 2022
Sensex, Nifty fall in pre-opening session

Sensex falls below 57000, while Nifty 50 index gave up 17100 level, in line with SGX Nifty trend in pre-open

09:12 (IST) 27 Apr 2022
Nifty needs to stay above its 200-DMA at 17207 to regain momentum

The market is seen heading southward in early trades much in tandem with the rout in other global indices amid concerns about global economic growth stemming from China. As on date, the world economy once again finds itself in a problematic position due to growth concerns amidst renewed Covid surge in China and Russia’s Ukrainian invasion. Our call of the day suggests Nifty may trade volatile with interweek support seen only at 16597 mark. Intraday support for the index is seen at the psychological 17000 mark. To regain momentum on the buy side, Nifty needs to stay above its 200-DMA at 17207 mark. Prashanth Tapse, Vice President (Research), Mehta Equities

08:43 (IST) 27 Apr 2022
Gold prices could rise to 52000 levels having support level of 51400

On Tuesday, the US 10-year bond yield fell more than 3% , causing gold prices to rise modestly. The strong US dollar index, on the other hand, limited precious metals' gains. Global stock markets are under pressure as a result of slowing global growth and rising inflation, attracting safe-haven demand and keeping gold prices low. Consumer sentiment in the United States was 107.3 points lower than expected, indicating fewer demand due to rising costs. The current precious metals trend may continue to rise where Gold prices could rise to 52000 levels having support level of 51400. Silver prices may stay range-bound, with support around the lower end of the range. Support is available at 64400. Nirpendra Yadav, Senior Commodity Research Analyst, Swastika Investmart

08:41 (IST) 27 Apr 2022
Nifty trades near 200-day SMA, intraday formation positive, support now at 17100; Buy HCL Tech, L&T for gains

Technically, once again the indices reclaimed the 17000/57000 mark and succeeded to close above the 50-Day SMA which looks grossly positive. After a promising pullback rally, the index is trading near its 200-Day SMA. For the short term traders, the support has shifted to 17100/57000 from 17000/56700. Read full story

08:35 (IST) 27 Apr 2022
Bears look poised to regain control of Sensex, Nifty; 5 things to know before opening bell

Domestic markets moved higher on Tuesday, as bulls attempted a comeback, but global cues and SGX Nifty were suggesting another reversal for today. S&P BSE Sensex rose 776 points or 1.37% to settle at 57,356 points while the NSE Nifty 50 index jumped 246 points or 1.46% to regain 17,200. Entering Wednesday’s trade, SGX Nifty was down 200 points, hinting at a gap-down start to the day’s trade. Global cues were weak with Wall Street equity indices having tanked severely on Tuesday. An aggressive Fed tightening and resurging covid is weighing down on investor sentiment. 

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08:14 (IST) 27 Apr 2022
Ahead of IPO, Rainbow Children’s Medicare collects Rs 470 crore from anchor investors

Multi-speciality pediatric hospital chain Rainbow Children’s Medicare Ltd on Tuesday said it has garnered nearly Rs 470 crore from anchor investors ahead of its initial public offering (IPO). The company has decided to allocate a total of 8,663,404 equity shares to anchor investors at Rs 542 apiece, taking the transaction size to Rs 469.55 crore. Read full story

08:11 (IST) 27 Apr 2022
LIC IPO to open May 4; Check price band, issue size, discounts, other details of largest public issue

The much-awaited Life Insurance Corporation of India (LIC) IPO (initial public offering) is set to open next week with the public sector behemoth filing its Red Herring Prospectus (RHP) with capital market regulator SEBI on Tuesday evening. However, much has changed since LIC filed its draft papers earlier in February. Now, the insurance giant is looking to sell 221 million equity shares down from the 316 million it had planned earlier. The issue size has also come down, but LIC’s public issue will still be the largest ever to hit Dalal Street. LIC IPO will open on May 4.

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08:10 (IST) 27 Apr 2022
LIC IPO: Price band set at Rs 902-949 per share, to be open for retail investors from May 4 to 9

Life Insurance Corporation (LIC) has fixed the price band for its initial public offer (IPO) at Rs 902-949 a share. The issue, which will remain open for retail investors from May 4 to 9, will enable the government to offload 3.5% stake in the insurer for Rs 21,000 crore, according to an official source. The insurer filed the red herring prospectus (RHP) with the Securities and Exchange Board of India (Sebi) late Tuesday. Read full story

08:09 (IST) 27 Apr 2022
Asian stock market: Shares fall amid mix earnings, Fed tightening and China COVID-19 cases; oil up

Stocks fell Wednesday as mixed corporate earnings, China’s Covid struggles and the prospect of aggressive Federal Reserve monetary tightening all pointed to a deteriorating economic outlook. MSCI Inc.’s Asia-Pacific share gauge dropped to the lowest since mid-2020, sapped by Japan, while bourses in China and Hong Kong fluctuated. Read full story

08:08 (IST) 27 Apr 2022
RIL, Wipro, HUL, Bajaj Finance, HDFC, AU Small Finance Bank, Indian Hotels Company stocks in focus

Reliance Industries: Reliance Industries (RIL) and Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) have entered into a formal shareholders’ agreement.

Bajaj Finance: Bajaj Finance Ltd on April 26 reported a 79.7 per cent on-year rise in consolidated net profit to Rs 2,420 crore. Read full story

08:07 (IST) 27 Apr 2022
Nasdaq slumps by 4% to lowest close since late 2020; Tesla tanks after Musk clinches deal with Twitter

Wall Street ended sharply lower on Tuesday, with the Nasdaq closing at its lowest since December 2020 as investors worried about slowing global growth and a more aggressive Federal Reserve. Read full story

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