Share Market HIGHLIGHTS: Nifty as flat as it can get, Sensex up 23 pts; Reliance inches higher ahead of Q4 results
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex gave up initial gains in a volatile session on Friday, tracking amid weakness across global markets following disappointing quarterly results from Tesla and AT&T as persistent concerns about more of hikes in benchmark interest rates continue to affect investor sentiment. HCL Tech shares rose, a day after the IT company reported a better-than-expected quarterly net profit and announced a 900 per cent dividend. Investors await more of corporate earnings from India Inc for domestic cues, with Reliance Industries (RIL) all set to report its numbers post-market hours on Thursday.
Catch minute-by-minute updates of all the action in the Indian share market on April 21, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex gave up initial gains in a volatile session on Friday, tracking amid weakness across global markets following disappointing quarterly results from Tesla and AT&T as persistent concerns about more of hikes in benchmark interest rates continue to affect investor sentiment. HCL Tech shares rose, a day after the IT company reported a better-than-expected quarterly net profit and announced a 900 per cent dividend. Investors await more of corporate earnings from India Inc for domestic cues, with Reliance Industries (RIL) all set to report its numbers post-market hours on Thursday.
Catch minute-by-minute updates of all the action in the Indian share market on April 21, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Share Market Update | Nifty 50 as flat as it can get at 17,624, Sensex ends choppy day with gain of 23 pts
The Nifty 50 finishes the day up 0.4 point at 17,624.1, after broadly moving within the 17,550-17,700 band during the session.
The Sensex ends with a gain of 22.7 points at 59,655.1, having gyrated in a range of 368.6 points — between 59,412.8 and 59,781.4 — around the flatline in intraday trade.
Here's how the main gauges moved through the day:
Nifty 50
Sensex
Images: NSE, BSE
Read more on the April 21 session in the Indian share market
LIC shares near 52-week low
The strong performance of private insurance companies as compared to Life Insurance Corporation of India (LIC) in March, has sent the stock of the state-run insurance behemoth to trade near a 52-week low.
Minutes before market close, LIC shares were down nearly 1 per cent to Rs 547.5 per share on the BSE during Friday’s session. The counter had hit Rs 530.2 per share a 52-week low earlier on March 29, 2023, on the BSE.
Why has LIC's new business premium declined? Zee Business’ senior research analyst Kushal Gupta explains.
मार्च में LIC के मुकाबले प्राइवेट बीमा कंपनियों का प्रदर्शन दमदार
LIC के नए बिजनेस प्रीमियम में क्यों आई गिरावट? जानिए पूरी डिटेल्स कुशल गुप्ता से @KushalGupta44 | #SBILife | #InsuranceCompanies | #HDFCLife
Zee Business LIVE- https://t.co/XYyIm1DMSx pic.twitter.com/i87STZBoy7
— Zee Business (@ZeeBusiness) April 21, 2023
PNC Infratech stock rises
PNC Infratech received a Letter of Acceptance from Road Ministry for a project worth Rs 819 crore. The stock witnessed a steep rise on the chart immediately after the regulatory filing.
PNC Infratech share price has hit a day’s high at Rs 284 per share, up Rs 7 or 2.53 per cent from Thursday’s closing of Rs 277 per share on the BSE today.
Metal and Realty stocks drag market
Metal and Realty stocks are the major reason for the volatile markets today as both indices cracked most during Friday’s session. Nifty Metal was down over 1 per cent, while Nifty Realty dipped by around 2 per cent today.
Besides, Banking and Financial Services sectoral indices were also in the red.
On the contrary, Nifty IT, FMCG, Pharma, and Media are aiding the benchmark indices from further fall today.
Heatmap: An hour before closing
Heavyweights such as ITC, TCS, Wipro, Asian Paints, and HCL Tech among others are in green, while Tech Mahindra, Maruti Suzuki, Tata Steel, and UltraTech Cement among other shares in the Sensex basket were in the red during the last day of this week’s trading.
ICICI Pru under pressure despite strong Q4 show
ICICI Prudential Life shares tumbled as much as four per cent to hit the day’s low of Rs 438.85 per share on the BSE during Friday’s session.
The stock declined despite registering strong earnings for the January-March quarter of the previous fiscal. Read More
The private insurer on Thursday reported a 27.2 per cent jump in net income at Rs 235 crore for the March quarter as it earned near a record margin from the new policies sold.
ITC reclaims Rs 5-trn m-cap
ITC pips HDFC to become the seventh largest firm by market capitalization as the cigarette-to-hotel conglomerate reclaimed the Rs 5 trillion market cap on Friday.
ITC shares jumped more than 1.5 per cent to hit a fresh all-time high of Rs 407.6 per share on the BSE during Friday’s trade.
Share Market Tips LIVE | Buy ITC shares at 398-399 for short term targets of Rs 425-430, says Rakesh Bansal
Market expert Rakesh Bansal is bullish on ITC shares with a long-term target of Rs 700-odd levels. "After some consolidation, the stock is in unchartered territory with a good technical structure," he tells Zee Business.
He recommends buying ITC shares at levels to the tune of Rs 398-399 for targets of Rs 425 and Rs 430 in the short term.
Buzzing and Falling Stocks
In an otherwise volatile market today, stocks such as Nazara Tech, Cyient, Vodafone, and BLS International among others are among the buzzing shares, while ICICI Pru Life, Sterling and Wilson, Oberoi Realty, LIC, and others are falling in the weak session on Friday.
आज बाजार में कौनसे शेयर रहे अभी तक Top Gainers & Losers? पढ़िए यहां #TopStocks #StockMarket #Nifty #Sensex pic.twitter.com/KlIxsN8RV1
— Zee Business (@ZeeBusiness) April 21, 2023
Share Market Today LIVE | ITC shares scale another peak, touch Rs 407.6 level for first time ever
The cigarettes-to-hotels conglomerate's stock has scaled a series of unprecedented levels in the recent past. Today, it surpassed its all-time high of Rs 402.6, touched on Thursday.
ITC shares have risen almost eight per cent in the past one month alone, a period in which the Nfity has gained three per cent.
Image: BSE
RIL Q4 Results Today | Reliance shares flat ahead of earnings announcement post-market hours
The stock of the oil-to-telecom conglomerate is down by Re 1.8 at Rs 2,344 apiece on BSE. The group is all set to report its financial results later in the day.
Image: BSE
Share Market Today LIVE | Sensex takes day's losses to 200 pts; ICICI Bank, L&T, HDFC Bank, Axis Bank, Tata Steel top drags
Images: BSE
PVR becomes PVR INOX as name change takes effect
The change in name after a scheme of amalgamation between INOX Leisure and PVR has come into effect. According to a regulatory filing, PVR Limited will now be PVR INOX Limited.
The process for reflecting the change of name on the stock exchanges will be followed in due course of time, it adds.
PVR shares are down 1.6 per cent at Rs 1,485.7 apiece on the bourse at this hour.
Image: BSE
Sensex LIVE | Larsen & Toubro, Tata Steel, HDFC Bank, Tata Motors pose maximum pressure on 30-scrip index; ITC, TCS, Asian Paints lend support
Here's a look at the top movers and shakers in the Sensex basket:
Image: BSE