Market HIGHLIGHTS: Sensex gives up all morning gains, ends flat, Nifty just below 14,900; Bajaj twins gain

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Updated: April 29, 2021 4:29:00 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended flat on Thursday

Share Market Today, Share Market LiveNifty Metal index was top sectoral gainer, up 4.5 per cent while Nifty Auto index fell one per cent.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended flat but in the green for the fourth straight day on the day of monthly F&O expiry for the April series. BSE Sensex ended just 32 points up at 49,766, while the Nifty 50 index settled 30.35 points up at 14,895 level. During the intraday trade, both the indices reclaimed their psychological levels within minutes of going into the trade as US Federal Reserve decided to keep monetary policy loose. Bajaj Finserv, Bajaj Finance, Axis Bank, Reliance Industries Ltd (RIL), IndusInd Bank, Titan Company, HUL among others. On the flip side, Bajaj-Auto, Housing Development Finance Corporation (HDFC), HCL Tech, Larsen & Toubro (L&T), State Bank of India (SBI) were down in the range of 1-1.8 per cent. Nifty Metal index was top sectoral gainer, up 4.5 per cent while Nifty Auto index fell one per cent.

 

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    15:53 (IST)29 Apr 2021
    Nifty may still move closer to 15,100

    The Index has taken a bit of a breather after crossing 15000 earlier in the day. It is also about profit booking since today was the month-end expiry. The markets seem to be bullish and the Nifty has wings to move up further to levels closer to 15100-15200. Dips can be utilized to buy this market. Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

    15:39 (IST)29 Apr 2021
    Sensex, Nifty end flat; settles in green for 4th straight day

    Sensex ended just 32 points up at 49,766, while the Nifty 50 index settled 30.35 points up at 14,895

    15:19 (IST)29 Apr 2021
    Wealth managers need to provide investment advice aligned with clients risk tolerance: Sebi

    With the expected increase in retail penetration, it is important to have wealth managers who can prescribe meaningful investment advice aligned to the clients’ risk tolerance, return expectation and financial needs, a Sebi official said on Thursday. Also, given the fiduciary responsibilities of a wealth manager, it becomes equally important for them to be grounded in ethical principles, such as client confidentiality, transparency and objectivity, S K Mohanty, Wholetime Member of Sebi and Director at NISM, said.

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    15:06 (IST)29 Apr 2021
    Brokerage view on Auto sector

    Near-term demand may remain subdued due to pandemic-related restrictions. However, Emkay Global expects a recovery from Q2FY22 onward. The positive view on the Automobile sector is underpinned by expectations of a strong cyclical upturn, which is expected to last at least three years.

    15:01 (IST)29 Apr 2021
    Vedanta pledges Rs 150 cr to help India fight against COVID-19

    Vedanta on Thursday said its Chairman Anil Agarwal has pledged Rs 150 crore to help India in its fight against deadly COVID-19 second wave. The amount is over and above Rs 201 crore that was spent by Vedanta Group in 2020, it said in a statement.

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    14:56 (IST)29 Apr 2021
    MCX gold may hit Rs 47,550

    Gold prices rose after a brief consolidation witnessed in the previous session, bolstered by the U.S. Federal Reserve's pledge to maintain easy monetary policy to aid economic recovery, while a weaker dollar provided further support. The Federal Reserve held interest rates and its bond-buying program steady on Wednesday after its two-day policy meet despite taking a rosier view of the U.S. economic recovery. Governor Powell did not mention anything regarding the yields although he continued to underplay the rising inflationary expectation. On other hand, U.S. President Joe Biden plans to unveil a sweeping $1.8 trillion package for families and education in his first speech to Congress, supporting the overall sentiment. Market participants will keep an eye on the US Q1 GDP data and weekly jobless claims scheduled later in the day, which could trigger further volatility in the market. Broader range on COMEX could be between $1775- 1798 and on the domestic front prices could hover in the range of Rs 47,000- 47,550. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

    14:55 (IST)29 Apr 2021
    No time to turn defensive on Wall Street; Morgan Stanley says there’s more steam in cyclical trades

    Some Wall Street investors have switched back to defensive trades after the strong run-up in equity indices saw them surge to record highs. Investors shifted their focus on defensive, chose large-caps over mid-cap and small-caps, and went for growth stocks instead of value. However, this move towards defensives might be pre-mature, according to Lisa Shalett, Chief Investment Office, Morgan Stanley Wealth Management. “We disagree and believe that a defensive shift for investment portfolios is premature. In our view, recent events represent a pause -- not a reversal -- in the reflation trade,” she added.

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    14:51 (IST)29 Apr 2021
    World Bank forecast on commodity prices for 2021

    Based on the ground level developments which reflect strong growth tendencies in the global economy, 2021 will be a bull run for all commodities in general, after which there will be tapering down in 2022. Gold will be an exception which will slow down in 2021. The interesting facet here is that the prices for most categories will not just be higher than 2020 when there was a tendency for them to decline but also over 2019 which was the pre-pandemic year. However the risk can be any slowdown in the world economy due to the pandemic as that will upset most calculations. CARE Ratings

    14:42 (IST)29 Apr 2021
    Hindustan Unilever reports 13 pc rise in Q4 consolidated net at Rs 2,190 cr

    FMCG major Hindustan Unilever Ltd (HUL) on Thursday reported a 13 per cent increase in consolidated net profit at Rs 2,190 crore for the fourth quarter ended March 31, riding on strong volume growth. The company had posted a consolidated net profit of Rs 1,938 crore in the same period of the previous fiscal, HUL said in a regulatory filing.

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    14:41 (IST)29 Apr 2021
    Why PowerGrid InvIT?

    Superior Return Ratios: PGInViT is having ROE of 25% whereas Indgrid is having ROE of 10%.Dividend yield: InViT will offer dividend yield of around 10-11%, whereas Indgrid is offering yield of around 9%.Strong Sponsor: Power Grid is the sponsor of PGInViT, which is the largest power transmission company in India.Low Debt: The object of the issue is to reduce the debt, and most probably PGInvit will list with net debt free status. Vishnu Kapadia, CIO, MJK Investments

    14:35 (IST)29 Apr 2021
    Coca-Cola India pledges to help #StopTheSpread

    As efforts accelerate nationwide to provide relief from the devastation of the second wave of the coronavirus, Coca-Cola in India has committed Rs 50 crore to augment the nation’s effort in combating the crisis and containing the spread of the pandemic. The Coca-Cola system in India will facilitate COVID vaccination, provide safety kits, create awareness and distribute beverages to our nation’s front line, to positively impact over 10 lakh Indians.

    14:31 (IST)29 Apr 2021
    Gold demand bounces back: Here’s how much gold Indians bought in Jan-Mar

    India’s gold demand recovered during the January-March period to witness a growth of 37 per cent at 140 tonne compared to the same quarter of 2020, due to ease of COVID-related restrictions, pent up demand and softening of prices of the yellow metal, according to the World Gold Council (WGC).

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    14:25 (IST)29 Apr 2021
    PowerGrid InvIT IPO opens: Strong financials, power transmission biz make it attractive; should you subscribe?

    PowerGrid Infrastructure Investment Trust (InvIT) IPO opened for subscription on Thursday, April 29, 2021, in the price band of Rs 99-100 per unit. The units of PowerGrid InvIT are proposed to be listed on BSE and NSE. Through this IPO, the company plans to raise Rs 7,735 crore comprising a fresh issue of Rs 4,993.48 crore and offer for sale of up to Rs 2,741.51 crore of existing units. Upon successful listing, it will become the third InvIT to be listed on the bourses after IndiaGrid Trust and IRB InvIT.

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    13:59 (IST)29 Apr 2021
    HUL posts Rs 2,140 cr profit in Jan-Mar quarter

    HUL posted profit of Rs 2,140 crore, which is above estimates. Revenue came in at Rs 12,433 crore, Ebitda at Rs 3,043 crore, and volume grew 16 per cent on-year.

    13:52 (IST)29 Apr 2021
    Biocon Q4 net profit surges 86 pc to Rs 296.4 cr

    Biotechnology major Biocon has reported 86.29 per cent jump in consolidated profit to Rs 296.4 crore for the quarter ended March 31, 2021. The company had reported profit of Rs 159.1 crore in the corresponding period a year ago.

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    13:36 (IST)29 Apr 2021
    Dividend bonanza for HUL shareholders

    Hindustan Unilever today said that its board has recommended a final dividend of Rs 17 per share for the financial year ended 31st March 2021. In the previous financial year, HUL gave a total dividend of Rs 31 per share.

    12:38 (IST)29 Apr 2021
    TATA moves ahead to acquire BigBasket, gets CCI nod; will compete with Amazon, RIL in e-grocery biz

    Competition Commission of India (CCI) today gave the go-ahead for Tata Group’s proposal to acquire a majority stake in Alibaba-backed online grocery store BigBasket. With CCI’s nod Tata Digital, a wholly-owned subsidiary of Tata Sons, will acquire a 64.3% stake in the company, paving the way for a showdown in the online grocery segment. BigBasket competes with Groffers in the segment which is backed by Sequoia Capital, SoftBank, and even Tiger Global.

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    12:25 (IST)29 Apr 2021
    Zomato IPO: What Deepinder Goyal foodtech unicorn’s listing means for Indian startup ecosystem, investors

    The Zomato IPO will be among a handful of startups domiciled in India including Policybazaar, Nykaa, Delhivery, MobiKwik, etc., planning to list in the coming months. A successful listing is also likely to pump up a number of other internet-first or internet-only startups to opt for listing to raise further capital even as successful listings IndiaMart, and Infibeam in the recent past have sent positive signals with respect to India-focused investors’ appetite for internet stocks.

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    12:17 (IST)29 Apr 2021
    Tata Communications stock expensive at current levels

    Tata Communications (TCOM) reported 7.4% YoY degrowth in revenues to ₹4,073 crore for Q4FY21. However the company reported a 16.8% YoY growth in EBIDTA for the quarter stood to ₹1015 crore while EBIDTA margins expanded by 517bps to 24.9%. Profit before tax and exceptional items was up by 3x YoY to ₹385 crore. Due to exceptional items of ₹378 crore in Q4FY20the company had posted a loss of Rs 275 crore in the quarter. Against a loss in Q4FY21 the company registered a PAT of ₹299.2 crore in Q4FY21. Despite the de growth in revenues the company has registered strong growth in operating profits due to sharp increase in margins in the data and managed services business. Tata Communications has been one of the biggest beneficiaries of the data boom due to greater proliferation of work from anywhere post the Covid 19 pandemic. While we expect demand for data services will continue to remain strong we believe that post the rally the stock is expensive at current levels and warrants caution.  Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd

    12:07 (IST)29 Apr 2021
    Nifty falls below 14,900 on heavy profit booking; buy on dips

    Nifty opens in green and then makes a monthly high of 15042 and then corrects heavily on profit booking. Nifty corrected more than 200 points from the day's high. We don’t suggest investors buying on dips as nifty has rallied from 14150 within the last 5 trading sessions. We suggest 14700 will be a good opportunity to buy on dips and on upside nifty will face resistance at 15200 levels. Yash Gupta Equity Research Associate, Angel Broking Ltd

    11:19 (IST)29 Apr 2021
    Reliance Industries stock price may rise to these levels; foreign investors maintain bullish stance

    Mukesh Ambani’s Reliance Industries Ltd. (RIL) has seen increased interest from foreign portfolio investors in the last one year. Foreign Portfolio Investor’s (FPI) shareholding in RIL has jumped 1.59% in the January-March quarter, from a year-ago period. Meanwhile, mutual funds have trimmed their stake in the oil-to-telecom conglomerate by 1%, during the same period. This is in line with a recent report by global investment bank Jefferies, where it says that overseas investors are more constructive on the stock. Jefferies has maintained a price target of Rs 2,600 per share on RIL stock. Currently, RIL trades at Rs 2,018 per share.

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    11:03 (IST)29 Apr 2021
    Nifty well above resistance levels

    Nifty surged in the last three trading sessions and now finds support at 14,700-14,685 levels, according to Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking. The 50-stock index, although down from intra-day highs, is still well above the immediate resistance zone. 

    10:51 (IST)29 Apr 2021
    Sensex, Nifty down in red

    Sensex was down 90 points while Nifty was below 14,850 on Thursday morning. ICICI Bank, HDFC Twins, and Kotak Mahindra Bank were the top drags. 

    10:38 (IST)29 Apr 2021
    Sensex, Nifty trade flat

    Sensex and Nifty were trading flat with a positive bias on Thursday, giving up most of their opening gains after an hour of trading. 

    10:25 (IST)29 Apr 2021
    Bank Nifty sits in red

    Bank Nifty is down 0.19% on Thursday morning. Benchmark indices are up in green.

    10:13 (IST)29 Apr 2021
    MCX gold to face resistance around Rs 47,350

    Today, technically we expect the MCX Gold June price to look positive for intraday. Yesterday, It has taken strong support at a 50-day simple moving average and from there it bounced back. On an hourly chart suggest that MCX June Gold contract price will be going to face strong resistance at the down channel line which comes around 47,350 levels approximately and breaking above which price will march towards 47,750 to 48,000 levels in the coming trading session. On the downside, it will take immediate support at a gap (47,090) after that 46,800 will act as strong support. MCX July SILVER prices are looking positive for intraday. On an hourly chart, the RSI momentum indicator moved up from the oversold area to the positive zone and it will provide further strength to the silver prices. however, we expect, Price will going to face a strong resistance zone at 70,450 levels. Breaking above which price can head towards 71,500 to 72,500 in the coming trading sessions. on the downside, Gap will act as strong support levels (69,000) approximately. NS Ramaswamy, Head of Commodities, Ventura Securities Ltd

    10:10 (IST)29 Apr 2021
    Gold prices snap 5-day losing streak as US Fed holds interest rates; MCX gold may touch Rs 47,500

    Gold prices snapped the 5-day losing streak on Thursday after the US Federal Reserve decided to keep the interest rates unchanged near zero. MCX gold June futures were trading Rs 163 or 0.35 per cent higher at Rs 47,256 per 10 gram, as against the previous close of Rs 47,093. MCX silver June futures too surged Rs 735 or 1.08 per cent to Rs 69,788 per kg. Silver futures closed at Rs 69,043 per kg in the previous session.

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    09:49 (IST)29 Apr 2021
    As Nifty touches 15,000, it may hit 15300 soon

    The markets are performing just as expected. Beyond the level of 14700, it is now headed to 15000-15100 which should be the first pit stop. If we can sustain there, the next level should be the previous high of 15300-15350. 14300 is now a strong support for the Nifty and any downward correction can be utilized to enter the index for higher targets. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:44 (IST)29 Apr 2021
    Rupee may trade within 74.20-30 in near term

    On the domestic side, the equity market is likely to extend it gains following the strength in the global market post Fed announcement. Further, it will take cues from the domestic Covid cases and vaccination development. In fresh issuance, the focus will be on just the second IPO for the month- PowerGrid Infrastructure Investment Trust IPO; which will be raising Rs. 7,734 crore from the market. This could attract some flows and could be supportive to the equity market. However, Maharashtra’s lockdown extension and vaccine shortage news could cap the upside and hence rupee could be seen limiting its gains upt o 74.20-30 levels and expected to weaken again upto 74.80-75.00 levels in the near term. The focus shift to US advance GDP data which is expected to be at 6.8%. Amit Pabari, managing director, CR Forex Advisors

    09:26 (IST)29 Apr 2021
    Gold gains momentum after US Fed’s pledge for accommodative policy stance

    Gold gained momentum after the US Fed’s pledge for an accommodative fiscal policy stance in yesterday’s policy meeting. Concerns over the economic impact of the second wave of corona pandemic and a softer US dollar also benefited the yellow metal. Meanwhile, a steady equity market and signs of economic recovery in the US and China may dent major gains in the commodity. Prices will continue with mild positive bias as long as $1760 hold the downside. Anyhow, major rallies are expected only if it breaks the next upside obstacle of $1820. A close below $1720 is a sign of immediate trend reversal. Hareesh V, Research Head Commodities at Geojit Financial Services

    09:25 (IST)29 Apr 2021
    HCL Technologies lone loser on BSE Sensex

    Out of 30 Sensex shares, 29 were trading in the positive territory. IndusInd Bank, Axis Bank, Bajaj Finserv were the top leaders. While HCL Tech was the only loser on the index

    09:22 (IST)29 Apr 2021
    RIL, HDFC Bank, ICICI Bank top Sensex contributors

    Index heavyweights such as Reliance Industries Ltd (RIL), HDFC Bank, Housing Development Finance Corporation (HDFC), Axis Bank and ICICI Bank among others contributed the most to the indices' gain

    09:20 (IST)29 Apr 2021
    Sensex zooms 550 pts, reclaims 50,000; Nifty tops 15,000

    Sensex surged 567 points or 1.14 per cent to 50,300, while Nifty 50 index surpassed the crucial 15,000 level on Thursday

    Check live Sensex, Nifty levels

    09:10 (IST)29 Apr 2021
    Gold may remain choppy reflecting trend in US dollar

    COMEX gold trades about 0.8% higher near $1788/oz after a 0.3% decline yesterday. Gold has edged up as the US dollar index slumped to 1-month low on back of Fed’s decision to maintain its accommodative stance despite improving outlook for the US economy. Also supporting gold is hopes of additional stimulus measures by the Biden administration. However, weighing on price is weaker investor buying and concerns about Indian demand. Gold may remain choppy reflecting trend in US dollar as market players counter Fed's dovish stance against improving economic outlook. Ravindra Rao, CMT, EPAT,  VP- Head Commodity Research at Kotak Securities

    09:09 (IST)29 Apr 2021
    RIL, Maruti, Bajaj Auto top Sensex gainers in pre-open

    Bajaj Auto, Maruti Suzuki, RIL and Power Grid Corporation of India were among top BSE Sensex gainers in the pre-open

    09:07 (IST)29 Apr 2021
    US stimulus to lift domestic markets

    "Markets are poised to open yet another day with stronger gains on the back of the stimulus from the US president. US president Joe Biden has laid out a $1.8 trillion social support plan, in his address to Congress. The markets saw a strong run in the crude prices by Brent rallying over $67 per barrel close to a six week high prices. The AMC's stocks will be in focus in today's trading after the SEBI rule that top executives of asset management companies will now be paid 20% of their compensation in units of the schemes that they have a role in or oversight of with a lock-in period of 3 years. This way the goals of the Mutual fund Investors and the Investment managers will be aligned and help India to further deepen the Mutual fund Investor base," said Mohit Nigam, Head, PMS, Hem Securities.

    09:06 (IST)29 Apr 2021
    Sensex at 12-day high, reclaims 50,000 in pre-open

    Sensex surged to a 12-day high and reclaimed 50,000, while the broader Nifty 50 index was ruling above 14,900 in the pre-open on Thursday.

    Check live Sensex, Nifty levels

    09:03 (IST)29 Apr 2021
    AMCs stocks in focus post SEBI ruling

    The AMCs' stocks will be in focus in today's trading after the SEBI rule that top executives of asset management companies will now be paid 20% of their compensation in units of the schemes that they have a role in or oversight of with a lock-in period of 3 years. This way the goals of the Mutual fund Investors and the Investment managers will be aligned and help India to further deepen the Mutual fund Investor base. Mohit Nigam, Head, PMS, Hem Securities

    09:03 (IST)29 Apr 2021
    Petrol and diesel price today 29 April 2021: Fuel cost steady for 14th day; check prices in Mumbai, Delhi here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel have remained unchanged for fourteen consecutive days now. Fuel prices were last cut on April 15 after having remained unchanged for fifteen days straight. Today, the Petrol price in Delhi is Rs 90.40 per litre, while Diesel prices were at Rs 80.73 per litre. 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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    08:49 (IST)29 Apr 2021
    Should you subscribe to Powergrid InvIT IPO?

    As per management projections, Powergrid InvIT is likely to generate cash flow from operations at an average of Rs.11.7 bn over the next three years, which implies a 10% cash flow yield. We recommend to “Subscribe” this IPO as the sponsor is the mega player with many ongoing projects along with strong financial performance and stable cashflows. Marwadi Shares and Finance Ltd

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