Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity indices NSE Nifty and BSE Sensex closed in the green on Tuesday, extending gains for the seventh day. Nifty closed at 17,722, up 98 points, while Sensex settled at the 60,152 level, up by 311 points. The banking stocks index, Bank Nifty gained 1.3% to close at 41,366, with private lender, Kotak Mahindra Bank leading the gains. The broader markers ended largely in the positive territory, with Nifty XYZ outperforming. Sectorally, Nifty PSU Bank, Nifty Metal and Nifty Auto soared, rising by up to 1.7% in trade.
Live Updates 15:39 (IST) 11 Apr 2023 Rupee erases yesterday’s gains
“The Indian rupee erased Monday’s gain following corporate dollar outflows and dollar demand from the importers. Local traders will eye on tomorrow’s inflation and IIP data for a directional move. The market consensus is expecting lower inflation numbers along with slower output growth. Spot USDINR may consolidate between 81.70 to 82.50 in the near term,” said Dilip Parmar, Research Analyst, HDFC Securities.
15:39 (IST) 11 Apr 2023 Equity indices showed resilience
“The domestic equity indices showed resilience and remained in positive territory, primarily led by banking and auto stocks on the expectation of strong quarterly earnings following robust business updates. The forthcoming CPI inflation data due on Wednesday is expected to remain below the RBI’s upper tolerance level of 6%. Meanwhile, in the United States, inflation is projected to decline further from its current level of 6%. The US inflation figures, along with the FOMC meeting minutes, are likely to exert a dominant influence on the global market trend.”
– Vinod Nair, Head of Research at Geojit Financial Services.
15:36 (IST) 11 Apr 2023 Top gainers, losers
The top gainers in trade on the Nifty 50 index are Kotak Bank, JSW Steel, Eicher Motors, Bajaj Auto and Tata Steel. The top losers on the index are TCS, Infosys, HCL Tech, Wipro and TechM, all constituents of the Nifty IT index.
15:34 (IST) 11 Apr 2023 Nifty, Sensex at close
Domestic equity indices NSE Nifty and BSE Sensex closed in the green on Tuesday, extending gains for the seventh day. Nifty closed at 17,722, up 98 points, while Sensex settled at the 60,152 level, up by 311 points.
15:02 (IST) 11 Apr 2023 Nifty IT falls 1.7%
Ahead of the Q4FY23 earnings season, Nifty IT takes a beating in trade, falling 1.7%. Leading the losses are constituents L&T Technology Services, Infosys, and TCS.
13:23 (IST) 11 Apr 2023 TCS earnings preview
India’s largest IT company Tata Consultancy Services (TCS) is expected to report a double-digit jump in net profit for the fiscal fourth quarter, with estimates going as high as nearly 18% on-year, helped by strong sales and large deals momentum.
Read full story here.
12:40 (IST) 11 Apr 2023 Bank of Baroda soars 4.6%
Share price of public lender Bank Of Baroda has seen a 4.6% jump, touching an intraday high of Rs 173.90 per share on positive Q4FY23 results, before paring some gains to trade 2.4% higher.
12:00 (IST) 11 Apr 2023 Kotak Mahindra Bank share price jumps 5.6%
Kotak Mahindra Bank share price jumped 5.6% on Tuesday after a Nuvama Institutional Equities study of the bank’s latest shareholding pattern showed an increase in foreign headroom, possible weight up in MSCI indices, potentially leading to purchase of shares worth $690 million.
Read full story here.
11:58 (IST) 11 Apr 2023 Torrent Power up 4.6%
Torrent Power share price climbs 4.6% intraday, touching a high of Rs 543.85. The stock price gains as the power producer has pipped Reliance Industries to emerge as the lowest bidder for supply of 1,100-megawatts of gas-based power supply sought by the government to meet anticipated record demand in the summer, as reported by Reuters.
11:17 (IST) 11 Apr 2023 Nifty, Bank Nifty support and resistance
For the day, support for the Nifty exists at 17500 and 17400 levels, whereas resistance for the Nifty stands at 17700 and 17800 levels. For the day, support for Bank Nifty exists at 40500 and 40000 levels, whereas resistance for Bank Nifty stands at 41200 and 41500 levels. – ACMIIL
10:20 (IST) 11 Apr 2023 Pullback beyond 17,220 not expected
“A close above 50 and 200 DMAs underscores the will to persist with the 17800 objective that we had lined up last week. But yet, the lacklustre moves on Thursday, afterbreaching 17600, points to a struggle, with oscillators entering overbought territory in several periodicities. Ideally, consolidation thereof should take support near 17530/470 before resuming uptrend. Slippage past the same would however let bears dominate, but favoured view does not expect pull back beyond 17,220,” said Anand James, Chief Market Strategist, Geojit Financial Services.
09:45 (IST) 11 Apr 2023 Bond market faces volatility
“The recent down moves and up moves in the US bond yields reflect the market uncertainty regarding the direction of US inflation and the Fed’s potential future responses. Even now there is no clarity on whether the US will tip into recession or not. The latest jobs data indicate increasing labour force participation and unemployment at very low 3.5%, despite the massive tightening by the Fed. The volatility in the bond market is getting reflected in the equity market, too,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:26 (IST) 11 Apr 2023 Bonds outlook
“Indian bond yields edged higher on Monday as traders continued to book profits and a rise in U.S. yields. The 10-year benchmark 7.26% 2032 bond yield ended at 7.231% after closing at 7.219% on Thursday. U.S. bond yields also ended higher on Monday as investors continued to price in a 25 bps hike by the Fed in May following a slightly strong U.S. jobs report,” said Sriram Iyer, Senior Research Analyst at Reliance Securities.
09:25 (IST) 11 Apr 2023 Bullion outlook
“Today, gold is up on a slight decline in the US yields. The ten-year yields have slipped 1.60 bps to 3.40%, which is pressurising the US Dollar. The Greenback is on defensive on improvement in risk appetite, too, as equities are bid following a bounce in the US equities,” said Praveen Singh – AVP, Fundamental currencies and Commodities analyst at Sharekhan by BNP Paribas.
09:25 (IST) 11 Apr 2023 Top gainers, losers
The top gainers on the NSE Nifty 50 index are Kotak Bank, HDFC Bank, SBI Life, Adani Enterprises and Sun Pharma, with Kotak Mahindra Bank up 4.41%. The top losers on the index are Grasim, TCS, Asian Paints, HDFC Bank and HDFC, with Grasim lower by 0.76%.
09:18 (IST) 11 Apr 2023 Market open
Indian equity indices NSE Nifty and BSE Sensex follow SGX Nifty and Asian markets’ cues to open in the green on Tuesday. Nifty is at 17,688.95, higher by 64.90 while Sensex added 175 points to trade at 60,022. Bank Nifty gained 0.66% to trade at 41,106.
09:10 (IST) 11 Apr 2023 Pre-open session
Domestic indices Nifty and Sensex ended the morning’s pre-open session firmly in the green, continuing to extend the six day winning streak. Nifty settled 80.8 points higher at 17,704.8, while the 30-stock Sensex closed at 60,028.6, up by 0.3%.
09:01 (IST) 11 Apr 2023 Failing to surpass critical resistance could lead to correction
“The presence of critical overhead resistance and the emergence of minor weakness from the highs could indicate further consolidation or a minor downward correction for the Nifty in the coming sessions from near 17,650-17,700 levels,” said Ameya Ranadive, Equity Research Analyst, Choice Broking.
08:59 (IST) 11 Apr 2023 Levels To Watch
“Volume profile indicates Index has a strong support around 17,400-17,450 zone. Coming to the OI Data, on the call side, the highest OI observed at 17,700 followed by 17,800 strike prices while on the put side, the highest OI is at 17,500 strike price,” said Deven Mehata, Equity Research Analyst, Choice Broking.
08:55 (IST) 11 Apr 2023 Markets could open in green
“The markets are likely to see gap up opening; SGX Nifty is 37 points higher compared to previous spot Nifty closing. Asian Markets are trading in the green as Nikkei and Hang Seng are trading with gains of 1.4% and 1% respectively,” said Mitul Shah, Head of Research, Reliance Securities.
08:51 (IST) 11 Apr 2023 Investors eye Q4 earnings
“Investors will now await the earnings outcome of the March quarter which will start trickling in from this week. The 4QFY23 earnings season begins this week with TCS due to report on Wednesday followed by Infosys on Thursday. Investors will closely watch out for management commentary on the demand environment for Indian IT services in the backdrop of the banking crisis and the slowing economic environment,” said Mitul Shah, Head of Research, Reliance Securities.
08:48 (IST) 11 Apr 2023 FII/DII data
Foreign institutional investors (FII) net bought shares worth Rs 882.52 crore, while domestic institutional investors (DII) net purchased equities worth Rs 351.50 crore on 10 April, according to the provisional data available on the NSE.
08:48 (IST) 11 Apr 2023 Asian markets
Stocks in Asia-Pacific traded primarily in the green as Japan’s Nikkei 225 advanced 1.08% and Hong Kong’s Hang Seng index traded up, higher by 1.36%. South Korea’s Kospi soared 0.87% in its first hour of trade. China’s Shanghai Composite traded mildly lower by 0.18% while the Shenzhen Component added 0.1%.
08:48 (IST) 11 Apr 2023 US stocks overnight
U.S. stock indexes clawed back from steep losses to a mixed close on Monday as investors digested Friday’s employment report and prepared for an eventful week of inflation data and bank earnings, according to Reuters. The Dow Jones Industrial Average rose 0.3%, the S&P 500 0.10%, and the Nasdaq Composite dropped 0.03%.