Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Barring FMCG, which was down 0.13%, all other sectoral indices were in the green. The Realty index had gained the most, up 1.27%. 

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was climbing, with the BSE SmallCap index up 0.85%, followed by the BSE MidCap index was up 0.58%. 

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Sensex Today Live : Tata Consumer Products shares were down more than 4% after the company reported a 22% fall in net profit in Q4FY24

Sensex Today Live : On Tuesday, April 23, the company reported a 22.5% decrease in net profit, at ₹267.7 crore in Q4FY24, down from ₹345.6 crore recorded in Q4FY23. However, the company’s operational revenue for the quarter increased by 8.5%, to ₹3,927 crore in A4FY24 from ₹3,619 crore in Q4FY23. From an operational standpoint, the company’s EBITDA for the March quarter was ₹629.6 crore, marking a 23% growth from the ₹511.7 crore reported in the same period last year. Its EBIT margin increased by 160 basis points to 16%, compared to 14% in the year-ago period. The group’s net profit before exceptional items stood at ₹427 crore, a 46% increase, driven by robust operational performance and one-time tax credits during the quarter. In addition, the company’s board proposed a final dividend of 775% for FY24, translating to ₹7.75 per equity share of ₹1 each, subject to shareholders’ approval.

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : 14 of the 50 stocks on the Nifty 50 were in the red. Tata Consumer Products, HDFC Life, IndusInd Bank, SBI Life and Infosys, were the top drags, while Cipla, Nestle India, Axis Bank, UltraTech Cement, and Adani Ports, were the top gainers.  

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Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Only six of the 30 stocks on the Sensex were in the red. IndusInd Bank, Infosys, Mahindra & Mahindra, Hindustan Unilever, and ITC, were the biggest drags, while Axis Bank, JSW Steel, UltraTech Cement, Tata Steel, and Nestle India, were the top gainers. 

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Sensex Today Live : Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher gives technical forecast for Nifty

Sensex Today Live : “BankNifty has been hovering near the 48,000 zone with bias maintained positive and would need a decisive breach above 48,400 levels to confirm clarity and anticipate further rise. The zone near 46,800 levels would remain the important support zone for the index as of now. Bankex has support at the 20 DMA level of 53,950 for the day and would need a decisive move past the 54,800 zone for the bias to improve and expect further rises to the all-time high. BankNifty would have a daily range of 47,500–48,500 levels, with Bankex support at 53,900 and resistance at 54,900.”

–Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher

Sensex Today Live : Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher gives technical forecast for Nifty

Sensex Today Live : “Nifty has maintained above the 22,300 zone with bias remaining positive and would need to cross the hurdle around 22,500 levels to establish conviction to carry on with the positive move further ahead. The zone around 22,000 shall remain the important support from current levels, expecting further rises. Sensex has closed below the 0.618% retracement level of 73,850, and upside would need a decisive breach above 74,250 levels for further conviction to be established. The support for the day is seen at 73,300/22,200 levels, while the resistance is seen near 74,300/22,500 levels.”

Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher gives technical fore

Sensex Today Live : Opening Bell

Sensex Today Live : Indian benchmark indices opene in the green on Wednesday, following global peers higher that were higher on the back of easing geopolitical tensions and robust company earning results for the March quarter

At opening bell, Sensex was up 219.12 points, or 0.30%, at 73,957.57 and Nifty was up 40.05 points, or 0.18%, at 22,408.05.

Sensex Today Live : Tata Consumer Products shares in focus after company posts 22% fall in net profit in Q4FY24

Sensex Today Live : On Tuesday, April 23, the company reported a 22.5% decrease in net profit, at ₹267.7 crore in Q4FY24, down from ₹345.6 crore recorded in Q4FY23. However, the company’s operational revenue for the quarter increased by 8.5%, to ₹3,927 crore in A4FY24 from ₹3,619 crore in Q4FY23. From an operational standpoint, the company’s EBITDA for the March quarter was ₹629.6 crore, marking a 23% growth from the ₹511.7 crore reported in the same period last year. Its EBIT margin increased by 160 basis points to 16%, compared to 14% in the year-ago period. The group’s net profit before exceptional items stood at ₹427 crore, a 46% increase, driven by robust operational performance and one-time tax credits during the quarter. In addition, the company’s board proposed a final dividend of 775% for FY24, translating to ₹7.75 per equity share of ₹1 each, subject to shareholders’ approval.

Sensex Today Live : Benchmark indices up at pre-open

Sensex Today Live : Indian benchmark indices were green at pre-open on Wednesday, following global peers higher that were higher on the back of easing geopolitical tensions and robust company earning results for the March quarter.

Sensex was up 213.65 points, or 0.29%, at 73,952.10, and Nifty was up 53.55 points, or 0.24%, at 22,421.55 during pre-open.

Sensex Today Live : Pre-open market comment by Prashanth Tapse, Senior VP (Research), Mehta Equities

Sensex Today Live : “The overnight surge in US markets and subsequent gains in Asian equities are pointing towards a firm opening for both Sensex & Nifty. A fall in global crude oil prices towards $83 a barrel raises hopes of easing tensions in the Middle East. Investors are also hoping for easing of geopolitical tensions, and are also expecting for the continuation of the current regime in the general elections, which has helped markets reverse the falling trend over the past few sessions. This is despite FII selling and also uninspiring Q4 results from Reliance and frontline technology companies. The technical landscape suggests Nifty’s major support at 22200 mark, with interweek support at 22000 and then at 21710 mark.”

–Prashanth Tapse, Senior VP (Research), Mehta Equities

Sensex Today Live : Welspun Corp bags orders worth ₹611 crore to supply line pipes to Latin America

Sensex Today Live : Welspun Corp informed the exchanges today that it has bagged an order worth ₹611 crore to supply line pipes to Latin America. In an exchange filing, the company said, “We are pleased to announce the receipt of binding Letter of Award (LOA) for export of line pipes from India. The contract, valued at ~ ₹611 Crore is for supply of LSAW Pipes, Coating and Bends in Latin America.”

The company added that the LOA is governed by conditions precedent, and would be followed up with a Notice to Proceed / Purchase Order, which is scheduled to be issued by the second week of May.

Sensex Today Live : What to expect from Indian stock market in trade on April 24

Sensex Today Live : The Indian stock market’s main indices, Sensex and Nifty 50, are anticipated to commence trading on a positive note this Wednesday, influenced by the upward trend in global markets. The Gift Nifty’s trends also suggest a robust start for the Indian benchmark index. The Gift Nifty was observed trading around the 22,450 mark, which is nearly 80 points higher than the previous close of Nifty futures.

On Tuesday, Nifty formed a small negative candle following the creation of a doji type candle pattern on Monday, indicating a continued range-bound movement in the market. “Nifty is currently positioned near the critical overhead resistance of the opening downside gap at 22,500 levels (15th April). The positive chart pattern, such as higher tops and bottoms, remains intact on the daily timeframe chart. With a new higher bottom formed on 19th April at 21,777, the likelihood of forming a higher top is high,” stated Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

He maintains that the near-term uptrend status of Nifty is still intact, even though the short-term trend appears to be choppy. (Read the full story here.) 

Sensex Today Live : Seven key things that changed for market overnight – Gift Nifty, Tesla Q1 results to US PMI data

Sensex Today Live : The Indian stock market’s key indices, Sensex and Nifty 50, are projected to start off on a positive note this Wednesday, buoyed by encouraging signals from global markets. Asian markets have seen a surge, and US stocks closed at higher levels as investors turned their attention to the quarterly outcomes from Magnificent Seven and other large-cap growth stocks.

On Tuesday, the Indian stock market indices maintained their positive trajectory, marking the third straight session of gains. “The local market showed a range-bound trend, mirroring the upbeat global cues with a consistent outperformance of the broader market. Although the Iran-Israel tensions were seen as having a limited escalation, the rise in crude oil prices indicates a reassessment of risks by investors. Foreign Institutional Investors (FIIs) are anticipated to persist with outflows due to the elevated dollar index and US bond yields. However, the inflows from Domestic Institutional Investors (DIIs) are bolstering the recovery,” stated Vinod Nair, the Head of Research at Geojit Financial Services. (Read the full story here.)

Sensex Today Live : Global peers, Gift Nifty firm, signal positive open for Indian markets

Sensex Today Live : Indian shares are set to open higher on Wednesday, tracking gains in global markets, while investor focus will be on quarterly results from multiple Nifty 50 companies this week.

India’s GIFT Nifty was trading at 22,449.50, as of 07:27 a.m. IST, indicating that the Nifty 50 will open above its Tuesday’s close of 22,368.

The benchmark indexes Nifty and S&P BSE Sensex rose for a third session on Tuesday, tracking gains in global markets amid concerns of a major re-escalation of tension in the Middle East easing.

Asian markets opened higher, after U.S. equities closed up overnight on earnings reports from the U.S. megacaps.

Australian shares cut early gains on Wednesday after a softer-than-expected slowdown in inflation in the first quarter reinforced bets of a higher-for-longer interest rate environment.

Treasury yields dipped after data showed U.S. business activity cooled to a four-month low.

Easing concerns about the threat of a major re-escalation of tension in the Middle East and a focus on company earnings brought renewed risk appetite from investors.

MSCI’s gauge of stocks across the globe rose 9.14 points, or 1.22%, to 758.4, further pulling away from Friday’s two-month low.

The Dow Jones Industrial Average rose 263.71 points, or 0.69%, to 38,503.69, the S&P 500 gained 59.95 points, or 1.20%, to 5,070.55 and the Nasdaq Composite rose 245.34 points, or 1.59%, to 15,696.64.

The FTSE 100 hit a record high and finished up 1.10%. The STOXX 600 rose 1.09% on gains in the technology sector.

The European Central Bank is expected to cut rates in June. The euro was last up 0.45% at $1.0703. It struck a five-month low of $1.0601 last week.

In commodities, spot gold extended the previous session’s losses, down 0.2% at $2,321.57 an ounce. U.S. gold futures settled 0.2% lower at $2,342.10.

Oil prices were up as investors continued to assess the situation in the Middle East. Brent crude futures rose 1.63% to $88.42 a barrel and U.S. crude settled up 1.78% at $83.36.