Market HIGHLIGHTS: Sensex gives up 49k, ends flat, Nifty below 14,650; ICICI Bank falls, Asian Paints gains

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Updated: April 16, 2021 4:13:47 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 settled flat with a positive bias on Friday

Share Market Today, Share Market LiveLauding the capital markets regulator Securities Exchange Control Board of India (SEBI), Nikhil Kamath, co-founder Zerodha today said that the regulatory body has worked towards protecting investor’s interest. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended flat with a positive bias on Friday. Sensex ended flat with just a gain of 28 points at 48,832.03, while the broader Nifty 50 index gained 36.4 points to settle at 14,618. Asian Paints, UltraTech Cement, ONGC, Sun Pharma, HCL Tech, Nestle India, M&M, Tech Mahindra were among the top index gainers. On the flip side, ICICI Bank, Bajaj Finance, Larsen & Toubro (L&T), Tata Consultancy Services (TCS), and SBI were the top Sensex laggards. Sectorally, the Nifty Pharma index ended 2 per cent higher while the Nifty Auto, IT, Metal, and FMCG indices were up in the range of 0.6-1.2 per cent. On the downside, the Nifty Bank, PSU Bank, and Realty indices dropped up to half a per cent.

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    15:38 (IST)16 Apr 2021
    Sensex, Nifty end flat

    Sensex ended flat with just a gain of 28 points at 48,832.03, while the broader Nifty 50 index gained 36.4 points to settle at 14,618

    15:26 (IST)16 Apr 2021
    RSI, MACD support the upside move

    The market witnessed a positive trend in today's activity. The breakout on Thursday, 15th April above the resistance level of the Nifty50 Index level of 14500 is positive from a short-term perspective. Sustaining above 14500 levels, the market to gain momentum, lead to an upside projection till the 14900 levels. The momentum indicators like RSI and MACD support the upside move indicate the continuation of the short-term uptrend is more likely. Ashis Biswas, Head of Technical Research at CapitalVia Global Research

    15:25 (IST)16 Apr 2021
    midcap, small cap indices outperform broader indices

    Domestic equities remained resilient and defied rising COVID-19 cases in the country. Benchmark Nifty recorded moderate gains for the third consecutive day mainly supported favourable global cues and strong buying in Pharma, IT and Auto space. Barring banks, all key sectoral indices traded in green with Pharma remaining outperformer. Strong 4QFY21 show by Wipro along with robust double-digit growth guidance led Wipro to gain over ~8% today. Further, expectations of strong 4QFY21 earnings and possibility of further price hikes aided cement stocks to see sharp recovery. Further, midcap and small cap indices outperformed broader indices today as recent fall in the space made investors to do bargain trading in quality midcap and small cap space. Binod Modi, Head Strategy at Reliance Securities

    15:16 (IST)16 Apr 2021
    AWS announces Amazon Digital Suite to enable digital transformation for SMBs

    Amazon Web Services (AWS) announced the launch of the Amazon Digital Suite, a curated set of software solutions aimed at enabling India’s small and medium businesses (SMBs) to easily digitize their operations and bring their businesses online. Running on AWS, the suite provides a broad selection of business software focused on SMBs from seven AWS Partner Network (APN) Technology Partners in areas such as accounting, customer support, and human resources. 

    15:14 (IST)16 Apr 2021
    MSCI tweaks methodology ahead of May index review; 3 Adani group stocks could still make the cut

    Global index provider MSCI (Morgan Stanley Capital International) has tweaked its methodology of picking stocks that could be added to its indices during the May semi-annual review. Despite the change, domestic brokerage and research firm Edelweiss Securities believes Adani Total Gas, Adani Enterprises, and Adani Transmission could still make the cut. “After reading the new methodology and analysing the numbers we continue to believe Adani Group of stocks hold high probability of getting included in MSCI Standard Index in May Review which will get announced on May 12, 2021,” they said.

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    15:01 (IST)16 Apr 2021
    Dividend by Tinplate India

    The company's Board of directors has declared the dividend of Rs 2 which is subject to the approval of shareholders in AGM. We have a positive outlook towards Tinplate India and we expect the company to continue its good performance in upcoming quarters also. Yash Gupta Equity Research Associate, Angel Broking Ltd   

    14:55 (IST)16 Apr 2021
    Electric-2W: More products and better price points to drive segment growth

    Electric 2W (e-2W) market is still in a nascent stage in India constituting sub 1% of total 2W volumes (c.170k units in FY21). The mainstream OEMs are yet to enter the segment in a meaningful manner and currently testing waters with a single product. The e-2W segment constitutes of multiple players but a handful of popular brands. This note is our first in the series where we have analysed the on ground situation in e-2W space based on our interaction with Ather, Hero Electric and channel partners operating in this segment. Indian e-2W market is classified into three categories with Ather/Bajaj Chetak/TVS as the key players in the high speed category while other brands fall in the city/low speed category. As of today, bulk of the sales is in the city/low speed category prominent in Tier-II cities. JM Financial Services

    14:46 (IST)16 Apr 2021
    Building materials 4QFY21 results preview: Strong demand to support robust margin

    We remain positive on the tiles and pipes companies, owing to healthy demand outlook. We also expect PVC resins prices to cool off 2QFY22 onwards, which should be positive for demand from the price-sensitive agri segment. We maintain our BUY rating on Kajaria Ceramics (TP INR 1,010, 19x its FY23E consolidated EBITDA) and ADD ratings on Astral Poly Technik (TP INR 1,660, 34x its FY23E consolidated EBITDA) and Supreme Industries (TP INR 2,045, SOTP based – standalone business at 19x FY23E EBITDA and its 30% holding in Supreme Petrochem at a 30% discount to its market capitalisation). HDFC Securities

    14:18 (IST)16 Apr 2021
    Pick-up in global economic activity will lead to subdued gold prices

    The rise in the number of COVID-19 cases, fear of the next wave coupled with rising inflation in the US, lower yields, weak US Dollar, and the QE program by the US government has also provided strength to the gold prices. The current situation of rising cases threatens to derail the economic recovery in Q1, create uncertainties. The situation may lead to elevated gold prices in the short term till the situation stabilizes. The retail demand in India has been rising due to festive season buying has also provided support to gold prices. A pick-up in global economic activity will lead to subdued gold prices, but the risk of the second wave, uncertainty remains which may guide gold prices in the longer term. Nish Bhatt, Founder & CEO, Millwood Kane International 

    14:15 (IST)16 Apr 2021
    Gold hits more than one month high

    Gold traded higher to a more than one-month peak as U.S. Treasury yields slipped despite better than expected U.S. economic data, pushing investors to bullion as a refuge against possible inflation ahead. Concerns regarding inflation is increasing ahead of massive fiscal aids and ultra-low interest rates across the globe supporting the metal. Gold prices also got a boost after the U.S. government imposed a broad array of sanctions on Russia as punishment for alleged misdeeds, including interfering in the 2020 U.S. election. after a positive retail sales and weekly jobless claims market participants will keep an eye on housing data and inflationary expectation from the U.S. scheduled later in the day. Broader range on COMEX could be between $1745- 1778 and on the domestic front prices could hover in the range of Rs 46,850- 47,450. Navneet Damani, VP - Commodities Research, Motilal Oswal Financial Services

    14:13 (IST)16 Apr 2021
    Rakesh Jhunjhunwala’s wife cuts stake in VIP Industries, Tata Comm; sells 45 lakh shares in these cos in Q4

    Rakesh Jhunjhunwala cut his stake in three firms including Titan Company, VIP Industries and Tata Communications in the January-March quarter of 2021. While the ace investor raised his stake in Fortis Healthcare and Multi Commodity Exchange (MCX) in the fourth quarter of FY21, according to the shareholding pattern of the public shareholders. Besides Titan Company, Rakesh Radheshyam Jhunjhunwala’s stake in VIP Industries fell to 32.73 lakh shares or 2.32 per cent in Q4, with only wife Rekha Jhunjhunwala’s name among the key shareholders.

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    13:50 (IST)16 Apr 2021
    Sectoral watch

    Among sectoral indices, Bank Nifty, Nifty Financial Services, Nifty PSU Bank, and Nifty Private Bank were the only ones that were down in the red on Friday.   

    13:39 (IST)16 Apr 2021
    Quess corp acquires stake in Conneqt Business Solutions Limited from Tata sons

    "Quess corp limited acquired remaining stake in Conneqt Business Solutions Limited from Tata sons. Increase in equity stake in Conneqt Business Solutions Limited from 70.00% to 100.00% by Quess Corp Limited. Conneqt is India’s leading domestic CLM and BPM player with 21+ Delivery centers in India, and 29,000+ employees as on 31st Dec 2021. Its turnover stood at Rs 976 Crores in FY 2019-20. The main object This Investment will provide Quess full and complete ownership over Conneqt, allowing it to better realize synergies between its various divisions, Conneqt and Allsec and It will strengthen Quess’ position to accelerate growth in the IT/ITES space," said Yash Gupta Equity Research Associate, Angel Broking.

    13:29 (IST)16 Apr 2021
    Broader markets outperform

    Broader markets were outperforming benchmark indices on Friday. Nifty junior was up 1.42%, Nifty Midcap 50 was up 1.23%, and Nifty Smallcap 50 gained 1.33% while the benchmark Nifty 50 was up 0.45%.

    12:38 (IST)16 Apr 2021
    Second covid-19 wave unlikely to hurt recovery; brokerages say buy these stocks on correction

    After facing the brunt of the pandemic and resultant lockdown last year, the recovery in corporate profits continues strong. Now, as the second wave of covid-19 wreaks havoc, Dalal Street is expected to witness market volatility and correction, paving the way for investors to add cyclical stocks on dips, said domestic brokerage firm Motilal Oswal in a recent note. “We believe this correction is a buying opportunity and it doesn’t change the medium-term thesis of recovery in corporate earnings led by underlying macro pick-up with focus on investment cycle,” the report said.

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    12:07 (IST)16 Apr 2021
    Auto-debit bounces ease in March, but stay above pre-Covid levels

    The failure rates of auto-debit transactions on the National Automated Clearing House (NACH) platform, many of which are EMI requests, eased in March, showed data released by the National Payments Corporation of India (NPCI). However, at 32.73% in volume terms, the bounce rate remained well above pre-Covid levels, raising concern about lenders’ asset quality after the lifting of an interim judicial stay on recognition of bad loans after August 31, 2020.

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    11:56 (IST)16 Apr 2021
    Quess Corp to acquire remaining 30 pc stake in Conneqt from Tata Sons for Rs 208 cr

    Business services provider Quess Corp on Friday said it will acquire the remaining 30 per cent equity stake in Conneqt Business Solutions Ltd from Tata Sons for Rs 208 crore. "The administration and investment committee has approved the acquisition of 30 per cent equity shares in Conneqt Business Solutions Ltd in lieu of Rs 208 crore from Tata Sons Pvt Ltd,” Quess Corp said in a regulatory filing

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    11:31 (IST)16 Apr 2021
    Wipro share price zooms nearly 10% on strong Q4 results; stock may rally another 10% to Rs 515 soon

    Wipro share price surged as much as 9.5 per cent to Rs 471.75 apiece, a fresh 52-week high, on BSE on Friday, a day after the IT firm posted the best results in the last 10 years. So far in today’s session, 5.98 crore shares of Wipro have exchanged hands on NSE, while 29.44 lakh shares have been traded on BSE. Wipro was the third IT company to announce fourth quarter earnings this week, following TCS and Infosys. The share prices of TCS and Infosys, respectively, were the top Sensex losers on the very next day of the earnings, as they missed analysts estimates. 

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    10:45 (IST)16 Apr 2021
    Gold prices recover in India, back above Rs 47,000; MCX gold to soon touch Rs 48,850 per 10 gm

    Gold prices recovered in Indian markets on Friday, after closing above Rs 47,000 per 10 gram for the first time since February 23, 2021, in the previous session. Although MCX gold June futures were trading weak, down Rs 85 or 0.18 per cent at Rs 47,090 per 10 grams, against the previous close of Rs 47,175. MCX silver was trading at Rs 68,407 per kg, down Rs 169 or 0.25 per cent, as compared to a previous close of Rs 68,540 per kg. On April 13, MCX gold hit Rs 47,000 mark in intraday after nearly two months. Last year in August, MCX gold touched a record high of Rs 56,191 per 10 grams.

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    10:05 (IST)16 Apr 2021
    Rakesh Jhunjhunwala ups stake in MCX, adds 5 lakh shares; Big Bull's stake now at just under 5%

    Big bull Rakesh Jhunjhunwala has increased his stake in Multi Commodity Exchange during the January-March quarter. Data available on the stock exchanges show that Rakesh Jhunjhunwala bought 5 lakh shares of the company during the previous quarter, taking his stake in the company to 25 lakh equity shares. Earlier, at the end of the October-December quarter, the ace investors had 20 lakh shares of MCX to his name or 3.92% stake, this has now increased to 4.90%.

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    09:50 (IST)16 Apr 2021
    Sensex regains 49,000

    Sensex jumped 200 points on Friday to regain 49,000. Asian Paints, Ultratech Cement, and HCL Technologies were the top gainers while ICICI Bank and RIL were the top drags. 

    09:43 (IST)16 Apr 2021
    Bank Nifty in red

    All sectoral indices, except Bank Nifty and Nifty Private Bank index were trading in the positive territory. Bank Nifty was down 0.09% while Nifty Private Bank was down 0.20%.

    09:33 (IST)16 Apr 2021
    Rupee likely to trade in 74.20-75.50 range in short term

    In the bond market, RBI’s fixing at 6.0317% for G-SAP 1.0 worth INR 25,000 crore sent a signal that RBI is allowing yield to move higher, and hence benchmark yield jumped to 6.12%. On another side, a fall in US bond yield below 1.55% suggests a higher interest rate differential. And hence, the ‘carry trade’ which was seen unwinding heavily over the last two weeks could be seen returning again on rising domestic recovery prospects, weaker US dollar despite strong US data, and RBI’s active intervention to curb volatility. However, rising domestic cases above 2-lac per day, widening India’s trade deficit, and the recent rebound in the crude oil could be a headwind for the Rupee. Overall, the short-term range for the USDINR is likely to be from 74.20-75.50. Amit Pabari, managing director, CR Forex Advisors

    09:31 (IST)16 Apr 2021
    Nifty IT index up over 1%

    Barring Nifty Bank, Nifty Pharma, Nifty Realty, all the sectoral indices were trading in the green. Nifty IT index jumped over 1 per cent

    09:26 (IST)16 Apr 2021
    ICICI Bank top Sensex loser

    ICICI Bank, Axis Bank, Reliance Industries Ltd (RIL), Bajaj Finance, Sun Pharma were among top index laggards 

    09:23 (IST)16 Apr 2021
    HCL Tech, HUL, Titan top Sensex gainers

    Asian Paints, HCL Tech, HUL, Tech Mahindra, Mahindra & Mahindra, Titan were among top Sensex gainers

    09:21 (IST)16 Apr 2021
    Sensex trades flat, Nifty tops 14,600

    BSE Sensex gained 50 points to trade at 48,853, while the broader Nifty 50 index reclaimed 14,600 on Friday

    09:06 (IST)16 Apr 2021
    Nifty reclaims 14,600, Sensex up 150 points in pre-open

    BSE Sensex gained 150 points to trade at 48,962, while the broader nifty 50 index reclaimed 14,600 in the pre-opening session

    Check live Sensex, Nifty levels

    09:03 (IST)16 Apr 2021
    Petrol and diesel price today 16 April 2021: Fuel cost unchanged; check rates in Mumbai, Delhi here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were steady today. Fuel prices were cut yesterday after having remained unchanged for fifteen consecutive days earlier. Today Petrol price in Delhi is Rs 90.40 per litre, 16 paise cheaper than yesterday, while Diesel prices were at Rs 80.73 per litre, down 14 paise. 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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    08:57 (IST)16 Apr 2021
    Gold breaches the $1750/oz level, indicates positive momentum

    COMEX gold trades marginally lower near $1763/oz after a 1.8% gain yesterday when it tested seven week high. Gold has benefitted from a decline in the US dollar index and bond yield on the back of Fed’s dovish monetary policy stance. Gold is also supported by rising virus cases and increased geopolitical tensions. However, weighing on price is upbeat US economic data and continuing ETF outflows. Gold has again breached the $1750/oz level indicating positive momentum however mixed factors persist and fresh buying should be only at corrective dips. Ravindra Rao, CMT, VP- Head Commodity Research at Kotak Securities

    08:51 (IST)16 Apr 2021
    Costlier crude, low base: WPI inflation shoots up to 8-year high of 7.39%

    Inflation measured by wholesale price index (WPI) shot up to 7.39% in March, the highest rate since October 2012, primarily on higher prices of crude oil, but also aided by a low base. Rise in prices of some manufactured goods and food items like pulses and fruits also pushed the index. Retail (CPI) inflation scaled a four-month peak of 5.52% in March.

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    08:47 (IST)16 Apr 2021
    Wipro, Mindtree, Den Networks, Ashoka Buildcon, National Fertilisers among other stocks in focus

    Nifty futures were trading at 14,635, up 15.50 points or 0.11 per cent on Singaporean Exchange. BSE Sensex and Nifty 50 may open flat with some positive bias on Friday, after ending over half a per cent up in the previous session. Investors will track COVID-19 cases, fresh restrictions, on-going vaccination drive, stock-specific development, along with oil prices and rupee movement.

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    08:18 (IST)16 Apr 2021
    Sensex, Nifty may open flat; five things to know before today’s opening bell on Dalal Street

    Domestic equity markets continued to inch higher on Thursday, despite witnessing some turbulence along the way. S&P BSE Sensex now sits at 48,803 mark while the Nifty 50 index is up at 14,581. On Friday morning, SGX Nifty was trading in the negative, hinting at a gap-down start for equity markets. Meanwhile, global cues were largely positive.

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    08:16 (IST)16 Apr 2021
    Asian stock markets trade mixed

    Asian peers were seen trading mixed in Friday morning trade with Japan’ Nikkei 225 rising 0.12 per cent while the Topix index fell 0.1 per cent. South Korea’s Kospi was marginally lower. Australia’s ASX 200 declined 0.12 per cent. 

    08:16 (IST)16 Apr 2021
    Dow closes above 34,000 for first time

    The Dow industrials closed above 34,000 for the first time on Thursday as the blue-chip benchmark and S&P 500 posted fresh record highs on a tech stock rally fueled by falling bond yields and strong March US retail sales, according to Reuters. The Dow Jones Industrial Average 0.9 per cent, the S&P 500 gained 1.11 per cent, and the Nasdaq Composite added 1.31 per cent. 

    08:16 (IST)16 Apr 2021
    US yield slips below 1.6%

    The benchmark 10-year Treasury yield slipped below 1.6 per cent for the first time since March 25.

    08:15 (IST)16 Apr 2021
    Wipro Q4 net profit up 27.7% to Rs 2,972 crore

    Wipro, which gets a bulk of its topline from IT services, said it expects revenues from that unit to be in the range of USD 2,195 to USD 2,238 million in the June 2021 quarter. This translates into a sequential growth of 2-4 per cent.

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