sensex live: Stock Market Highlights Today: Nifty forms bullish double bottom pattern; what does it signal for Wednesday’s trade?

Sensex Today LIVE: Benchmark indices rebounded sharply on Tuesday after falling for the past two sessions, with the Sensex rallying nearly 777 points, helped by buying in index major Reliance Industries and recovery in global markets. The 30-share BSE benchmark jumped 776.72 points or 1.37 per cent to end at 57,356.61. During the day, it rallied 862.35 points or 1.52 per cent to 57,442.24.

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Footwear stocks surge up to 17 per cent

Footwear stocks were trending throughout the day on Tuesday as Campus Activewear saw strong interest in the primary markets. The ripples were felt in other stocks as well as they surged as much as 17 per cent. Analysts believe given the high valuation Campus is seeking in its IPO, suddenly the outlook footwear stocks available at relatively lower value has improved. Thus, Khadim India was the biggest gainer, followed by Bata India.

Wipro to acquire Rizing to create an SAP consulting powerhouse

Price as on 26 Apr, 2022 05:33 PM, Click on company names for their live prices.

Though markets are not offering any cues over the next directional move yet, the sustainability of the 16,800 zone in Nifty is keeping bulls’ hope alive. Having said that, we feel participants should continue with a cautious approach and maintain their focus on risk management until we see a decisive close above 17,400. Among the sectors, the auto looks upbeat and select stocks from energy and FMCG pack also seeing decent traction so plan your positions accordingly.

– Ajit Mishra, VP – Research, Religare Broking

Q4 RESULTS: AU SMALL FINANCE BANK

Market is likely to remain volatile in the broader trading range with absence of follow up on either side. Nifty needs to hold above 17,000 levels for an up move towards 17,350-17,500 zones. We suggest investors to remain focused on selective stocks in the market which are resilient on the back of strong quarterly results.

– Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

Strong buying interest from domestic investors and positive global trend resulted in a rebound. But volatility persists due to lockdown in China, Russia – Ukraine war and rate hikes. However, dips are encouraging investors to accumulate quality stocks. In a range bound market, it is advised to stick with sectors which are expected to be least impacted by inflation and rising bond yield, banking, IT, Pharma and themes like green energy.

– Vinod Nair, Head of Research at Geojit Financial Services

Nifty tech view

The benchmark index Nifty has continued to remain in jumping jacks mode as Nifty ended significantly higher after a dismal trade in the previous session. However, no directional trend has been established even after a rally of about 250 points. The 200DMA has acted as initial resistance; a further up move can be seen upon a move above 200DMA. On the lower end, support seen at 17000 whereas on the higher end, resistance is visible at 17450.
— Rupak De, Senior Technical Analyst at LKP Securities

Market view: S Ranganathan, Head of Research at LKP Securities

Benchmark Indices gained one and a half percentage today on expectations of record GST collections for April even as FII ownership dropped to multi-year lows at 20%. Bajaj Group stocks, Autos & Real Estate stocks staged a smart recovery today with almost all sectoral indices ending in the green. FIIs continue to be the second highest owners of financials in India after the GOI despite the sector seeing the highest FII selling during the last one year. The broader markets witnessed buying interest in footwear stocks with half a dozen listed entities gaining share in both value for money as well as aspirational brands. Earnings expectations also buoyed stocks of state run enterprises of Gujarat in today’s trade.

BSE advance-decline ratio favours buyers

BSE advance-decline ratio favours buyers

All sectors close on a positive note

All sectors close on a positive note

Sensex Heatmap: 25 of 30 index stocks close in the green

Sensex Heatmap: 25 of 30 index stocks close in the green

CLOSING BELL: Sensex snaps 2-day losing run, surges 777 pts; Nifty tops 17,200; Adani group stocks rally up to 10%

HDFC Life Q4 Results: Profit rises 12% YoY to Rs 357 cr

HDFC Life Insurance Company on Tuesday reported a 12.44 per cent year-on-year (YoY) rise in profit after tax at Rs 357.52 crore for the March quarter compared with Rs 317.94 crore in the same quarter last year. The profit figure came largely in line with ET NOW poll estimate of Rs 360 crore.

HDFC Life Q4 Results: Profit rises 12% YoY to Rs 357 cr

Q4 EARNINGS: TATA TELE

HAL & BEL sign contract for Indigenous IRST

Price as on 26 Apr, 2022 02:56 PM, Click on company names for their live prices.

European stocks bounce back on earnings support

European shares breathed a sigh of relief on Tuesday as earnings from companies including Swiss bank UBS and shipping giant Maersk boosted sentiment, following an equity sell-off in the previous session driven by global growth fears.

The continent-wide STOXX 600 rose 0.6% after plunging nearly 2% on Monday on worries of an economic slowdown in China and rapid U.S. interest rate hikes.

Miners led gains after slumping on Monday. Nearly all subsectors and regional markets were in the black.

Q4 EARNINGS: SANOFI INDIA

  • Revenue: Rs 707 cr vs Rs 725 cr YoY
  • Profit: Rs 238 cr vs Rs 146 cr YoY
  • Stock up 2% on BSE post Q4 nos

Tyre stocks gain up to 5%

Price as on 26 Apr, 2022 02:29 PM, Click on company names for their live prices.

Ahead of earnings Bajaj Finance stock trades firm

Bajaj Finance is likely to report year-on-year (YoY) Net Interest Income (NII) growth for the March quarter in the thirties, while net profit growth is also likely to be strong, said an analyst tracking the company. The Bajaj Group crown jewel is likely to report 33 per cent growth in NII, said analysts. They had a varied projection on profit growth for the quarter, in the range of 47-80 per cent YoY.

Ahead of earnings Bajaj Finance stock trades firm

Future Group stocks that trade at 52-week lows

Price as on 26 Apr, 2022 01:49 PM, Click on company names for their live prices.

Sensex live updates: Index off day’s low, but still up 400 points

Sensex live updates: Index off day's low, but still up 400 points

Sources on LIC IPO: Up to 5% differential discounts likely to LIC employees & policyholders

LIC press conference on April 27 at 12:30 pm on IPO

LIC press conference on April 27 at 12:30 pm on IPO

IPO UPDATE: Campus Activewear retail portion full subscribed

Overall, the issue is subscribed 62%, with main demand coming from retail bidders. QIB portion did not see any bids yet.

IPO UPDATE: Campus Activewear retail portion full subscribed

Top 5 gainers from FMCG pack

Price as on 26 Apr, 2022 12:46 PM, Click on company names for their live prices.

April auto sales preview

Emkay Global Financial Services conducted a channel check to gauge the volumes’ estimate for the month of April. The channel checks indicate a recovery in Tractors/2-Wheelers in April 2022.

Apart from the low base of last year, Tractor volume growth is likely to be driven by improvement in farm income and some preponed purchases due to expected price hikes, while 2-Wheelers’ growth should be supported by marriage/festive season demand.

Amid global shortages due to the Russia-Ukraine conflict, Indian farmers are benefiting from better crop realizations. Further, dealer interactions indicate robust volumes in both CVs and PVs.

April auto sales preview

Market live updates: BSE MIDCAP index rallies 1.5%; Ruchi Soya best performer in the pack

Market live updates: BSE MIDCAP index rallies 1.5%; Ruchi Soya best performer in the pack

Shriram Properties Ltd has entered into an agreement with LOGOS for potential sale of up to 90 acres of land in Shriram Grand City at Uttarpara here for an undisclosed sum, officials said.

Price as on 26 Apr, 2022 12:07 PM, Click on company names for their live prices.

Footwear stocks made a comeback today as the Rs550bn footwear market in India is witnessing consumerism once again aided by both Value for Money and Aspirational brands. The sector is likely to see double-digit growth over the next few years aided by very low per capita consumption and should help the half a dozen listed footwear entities gain market share.

– LKP Securities

Market live updates: Nifty Auto best sectoral performer

  • Index rises over 2% with all constituents in the green
  • TVS Motor, Ashok Leyland, Hero Moto top gainers
Market live updates: Nifty Auto best sectoral performer

Trading in Sri Lanka stocks halted again as selloff continues

Stocks in Sri Lanka slid for a second day, triggering trading halts within minutes of opening, as investors continued to fret over over the island nation’s efforts to overcome an economic crisis. The Sri Lanka Stock Market Colombo All-Share Index plunged 7.3% as of 11:02 a.m. local time, after losing 7.6% in Monday’s session that lasted barely 32 minutes. Two circuit breakers were triggered on Tuesday as the blue-chip index slumped more than 7.5%. Losses of 10% would result in the market being closed for the rest of the day. (Source: Bloomberg)

Biocon Biologics Ltd on Tuesday said its subsidiary has bagged a three-year contract, valued at USD 90 million (around Rs 688 crore), from the Malaysian government for the supply of recombinant human insulin brand Insugen.

Price as on 26 Apr, 2022 11:32 AM, Click on company names for their live prices.

Premier Explosives bags Rs 58 crore contract from Ministry of Defence

Premier Explosives received an order from Ministry of Defence for procurement of 50 MM MTV Flares to be delivered within twelve months from the effective date of contract. Size of the order is Rs 58 crore. Stock rose 4% after this development.

Premier Explosives bags Rs 58 crore contract from Ministry of Defence

Market live updates: Top 10 gainers on NSE in late morning session

Price as on 26 Apr, 2022 11:24 AM, Click on company names for their live prices.

RBI to hike repo rate in June, earlier than previously thought: Reuters Poll

  • The Reserve Bank of India will raise its repo rate in June and hike at a faster pace than predicted just a few weeks ago as a surge in inflation puts pressure on the central bank to act quicker, a Reuters poll showed.

  • Retail inflation accelerated to nearly 7% in March, above the 6% upper limit of the central bank’s targeted range, and will likely soar further as a spike in global energy prices since Russia’s invasion of Ukraine seeps into consumer prices.

  • The Monetary Policy Committee (MPC) kept its key rate at a record low 4.0% at its April meeting despite shifting its focus to inflation from growth.

The Ukraine war has shot commodity prices higher worldwide, Ukraine being the largest exporter of oilseeds like sunflower, and soybean seeds have pushed the edible oil prices. The Indonesian palm oil export ban and Malaysian export tax will further squeeze the oil supply. This whole problem has skyrocketed edible oil prices in India, benefiting Edible Oil companies like Adani Wilmar. The company will have windfall gains via. Unsold inventory revaluation. Further, this situation will improve the overall margins for the company. Due to these factors the company has finally crossed the Rs 1 lakh market cap level, however, we advise investors to stay cautious as the stock has moved far ahead from its fundamentals.

– Santosh Meena, Head of Research, Swastika Investmart on Adani Wilmar

LIC IPO: Sebi approval on updated DRHP received

LIC RHP likely to be filed soon, formalities for RHP completed: ET NOW Sources

Campus IPO opens for subscription. What brokerage have to say

The Rs 1,400 crore initial public offering (IPO) of Campus Activewear opened for subscription from today. The company is selling its shares in the range of Rs 278-292 apiece. The Delhi-headquartered Campus Activewear manufactures and distributes a variety of footwear like running shoes, walking shoes, casual shoes, floaters, slippers, flip flops and sandals in multiple colours and styles.

Market live updates: L&T to collaborate with IIT Bombay for green hydrogen technology development

Price as on 26 Apr, 2022 10:03 AM, Click on company names for their live prices.

Market View: Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial

An interesting feature of the current volatile global equity market trend is that sharp dips in the market are followed by sharp upmoves. Dips caused by increasingly hawkish comments from the Fed, prolonging war in Ukraine and harsh lockdowns in China are getting bought resulting in recoveries. Whether it is in the US or India, retail investor enthusiasm is supporting markets even on negative news. This heightened volatility is likely to continue in the coming days. Investors can use the volatility to buy high quality stocks across segments. Banking stocks are at buyable valuations and IT stocks after the recent correction are good long-term bets.

Citi upgrades Reliance Industries to ‘buy’

Citi finds RIL Rs 3,170-worth as it upped its rating on the scrip to ‘buy’ to factor in a refining boost. Despite recovery from the recent low, RIL shares have still underperformed the broader market by over 20 per cent since mid-2020. The brokerage has raised its FY23-24 Ebitda estimate for RIL by 3-9 per cent. While Q4 results may not see any major benefits in the oil-to-chemicals (O2C) segment, any stock correction is an enhanced buying opportunity, Citi said.

Ahead if earnings…

Price as on 26 Apr, 2022 09:34 AM, Click on company names for their live prices.

BUZZING STOCK: ADANI WILMAR

The stock rose 5% with its market cap surging past Rs 1 lakh crore mark

BUZZING STOCK: ADANI WILMAR

Vodafone Idea, Future Consumer, Adani Power among most active stocks on NSE

Price as on 26 Apr, 2022 09:22 AM, Click on company names for their live prices.

Sector Watch: All indices gain in early trade

Sector Watch: All indices gain in early trade

Sensex Heatmap: A sea of green…

Sensex Heatmap: A sea of green...

OPENING BELL: Sensex rises 600 points, Nifty near 17,150; IndusInd Bank, M&M gain 2% each

Forex Market Alert: Rupee opens at 76.46/$ vs Monday’s close of 76.96/$

Forex Market Alert: Rupee opens at 76.46/$ vs Monday’s close of 76.96/$

Pre-open session: Sensex jumps 500 points, Nifty tops 17,000

Bajaj Finance, HDFC Life, Macrotech Developers & AU SFB to report Q4 results today

Bajaj Finance, HDFC Life, Macrotech Developers & AU SFB to report Q4 results today

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 100 points, or 0.59 per cent, higher at 17,095, signaling that Dalal Street was headed for a negative start on Monday.

Tech View: Nifty50 to face resistance at 17,050

NSE Nifty formed a bearish candle on daily charts on Monday closing below the psychological level of 17,000. Technical setup suggests the index may travel to as low as 16,600 in near term. the index has again created a gap area on the daily chart today, which is near 17,054-17,149.

Dollar ascends on China COVID fears, Fed rate hike pace

The dollar climbed to around a two-year high against the euro and an 18-month high versus the pound as fears about the economic impact of China’s COVID-19 lockdowns and an aggressive pace of U.S. rate hikes sent investors scrambling for safety. The dollar index, which measures the greenback against six main peers, was at 101.58, after jumping 0.58% on Monday and hitting a two-year peak of 101.86.

Oil prices recover after a sharp drop

Oil prices opened slightly higher on Tuesday, after falling sharply the prior session on worries that continued COVID-19 lockdowns in China would eat into demand and as the US dollar rose to a two-year high. Brent crude futures were at $102.57, up 25 cents, or 0.2 per cent and US West Texas Intermediate contracts climbed to $98.70, up 16 cents, or 0.2 per cent at 0002 GMT.Both contracts had settled down around 4% on Monday, with Brent down as much as $7 a barrel in the session and WTI dipping roughly $6 a barrel.

Hong Kong shares rise at open

Hong Kong stocks started Tuesday with small gains after suffering another hefty drop in the previous session, though traders remain on edge over China’s worsening Covid outbreak and lockdowns. The Hang Seng Index rose 0.60 percent, or 119.70 points, to 19,989.04. The Shanghai Composite Index edged up 0.07 percent, or 1.94 points, to 2,930.43, while the Shenzhen Composite Index on China’s second exchange added 0.10 percent, or 1.74 points, to 1,791.76.

Japan stocks open higher after US gains

Tokyo stocks opened higher on Tuesday as investors cheered gains on Wall Street while keeping a cautious eye on Chinese shares. The benchmark Nikkei 225 index added 0.59 percent, or 155.59 points, at 26,746.37, while the broader Topix index firmed 0.36 percent, or 6.69 points, to 1,884.09.The dollar stood at 127.59 yen, off from 128.15 yen on Monday in New York.

US stocks settle higher

US stocks stormed back from sharp losses in the morning to notch gains Monday, the latest round of turbulence for Wall Street. The S&P 500 climbed 24.34 points, or 0.6%, to 4,296.12 after erasing an early 1.7% loss. The Dow Jones industrial average rose 238.06 points, or 0.7%, to 34,049.46 after earlier being down 488 points, while the Nasdaq composite rallied 165.56, or 1.3%, to 13,004.85 to lead the market.

Rupee dives 22 paise to close at 76.64 against dollar

The rupee declined by 22 paise to close at 76.64 against the US dollar on Monday, tracking a strong greenback overseas and a lacklustre trend in the domestic equity markets. Heavy forex outflows amid growing worries over global growth weighed on the local units, traders said. At the interbank foreign exchange market, the rupee opened lower at 76.58 against the American currency, and finally settled for the day at 76.64.

Sensex, Nifty on Monday

The BSE Sensex reeled for the second session running on Monday, weighed by heavy selling in index heavyweight Reliance Industries and a drumbeat of negative cues from global markets. The 30-share benchmark opened on the back foot, in line with weak Asian equities, and remained in the negative territory throughout the session before closing 617.26 points or 1.08 per cent lower at 56,579.89. On similar lines, the broader NSE Nifty slumped 218 points or 1.27 per cent to 16,953.95.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day

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