Share Market HIGHLIGHTS: Nifty 50, Sensex end nine-day winning run as Infosys bleeds; HDFC Bank down 2%
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex suffered sharp losses on Monday, halting a nine-day-long winning run, amid negative moves across global markets after data pointed to resilience in core US retail sales and a rise in inflation expectations. HDFC Bank and Infosys succumbed to selling pressure after the blue-chip reported their Q4 results and announced dividends last week. Catch highlights of all the action in the Indian share market on April 17, 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.coms blog.
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex suffered sharp losses on Monday dragged by HDFC Bank and Infosys, after the blue-chip companies reported weak sets of Q4 results last week. Globally, data pointed to resilience in core US retail sales and a rise in inflation expectations, fuelling fears of sustained hikes in benchmark US interest rates and sending equities falling. Investors on Dalal Street await more of corporate earnings reports from India Inc for cues as the Q4 results season gathers steam.
Catch minute-by-minute updates of all the action in the Indian share market on April 17, 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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Worst day for Nifty IT in 11 months as Infosys disappoints Street
A sharp fall in Infosys shares on Monday drag the Nifty IT — whose 10 constituents include Tata Consultancy Services (TCS), Wipro, HCL Technologies and Tech Mahindra — 4.7 per cent for the day. All of the 10 stocks finish the day in the red, with Infosys being the worst hit with a fall of 9.4 per cent. Besides Infosys, TCS, LTIMindtree and Tech Mahindra pose the maximum pressure on the IT index.
Here's how the rest of the IT basket fared:
Stock Change (%) CMP Tata Consultancy Services (TCS) -1.6 3,139 MPHASIS -1.8 1,740 WIPRO -1.8 361.7 L&T Tech Services (LTTS) -2.6 3,440 HCL Technologies (HCLTECH) -2.8 1,042.3 COFORGE -3.3 3,894.7 PERSISTENT -4.1 4,210 Tech Mahindra (TECHM) -5.2 1,030.5 LTIMindree (LTIM) -7 4,323 Read more on Infosys, other IT shares
Share Market Today | Sensex ends 520 pts lower, Nifty gives up 17,750; D-Street halts nine-day winning run as Infosys bleeds
Here's how the headline indices moved through the day:
Nifty 50
Image: NSE
Sensex
Image: BSE
Share Market Today LIVE | Nifty IT on track to log worst day in 11 months as Infosys bleeds
The IT index — whose 10 constituents include TCS, Infosys, Wipro, HCL Tech and Tech Mahindra — is down 1,333.9 points or 4.7 per cent at 27,009, on track to end the day with its biggest single-day loss since May 19, 2022.
Infosys is the biggest drag on the Nifty IT, as the Bengaluru-based major's Q4 results fell short of Street estimates.
Image: BSE
HLE Glascoat, KIOCL, Punjab & Sind Bank, Indian Bank, Anupam Rasayan rise most among 280-odd gainers in BSE 500 universe
On the other hand, Infosys, LTIMindtree, Sonata Software, Tech Mahindra and Hikal are among the top laggards.
Image: BSE
Higher interest rate increases repayment amount, limits refinancing options for SME borrowers with loans against property: Moody's
According to Moody's, higher interest rates have increased repayment amounts and limited refinancing options for SME borrowers, which have availed loans against property, heightening the default risk for these loans.
"Even if the RBI were to keep rates on hold from here, the repayment amounts will weigh on SME borrowers' capacities to repay debt. Furthermore, the rate increases over the past year have reduced the likelihood that LAP (loan against property) borrowers will be able to refinance their debt on more affordable terms if they can no longer meet repayment amounts," according to the credit ratings agency.
Interest rate hikes in the past one year have increased funding costs for NBFCs, it adds.
Share Market Today LIVE | DLF, Dr Reddy's, UltraTech hit 52-week highs
Security Name New 52-week high Previous 52-week high DLF 419.5 418.5 (Dec 5, 2022) Dr Reddy's Labs (DRREDDY) 4,922.7 4,916.7 (Apr 12, 2023) UltraTech Cement (ULTRACEMCO) 7,824.7 7,792.1 (Apr 11, 2023) Share Market Today LIVE | Nifty 50, Sensex off day's lows aided by buying in SBI, ITC, Nestle India
Nifty 50 LIVE
Image: NSE
Sensex LIVE
Image: BSE
Share Market Tips LIVE | ICICI Bank, PNB, DLF, TVS Motor among analysts' top picks
In conversation with Zee Business, market experts Sandeep Wagle, Sumeet Bagadia, Rakesh Bansal and Sandeep Jain share their top recommendations for this week, in this special segment, Pick of the Week.
On their 'buy' list are stocks such as ICICI Bank, PNB, DLF and TVS Motor.
Share Market Today LIVE | HDFC Bank, HDFC climb to 52-week highs in pre-open market
Stock New 52-week high Existing 52-week high HDFC 2,815.00 2,792.20 (Apr 13, 2023) HDFC Bank 1,715.90 1,702.00 (Jan 24, 2023) Share Market Today LIVE | ITC shares hit record high, cross Rs 400 level for first time ever
The stock of cigarettes-to-hotels conglomerate ITC strengthens by as much as Rs 6.5 or 1.6 per cent to scale an all-time high of Rs 402 apiece on BSE.
Image: BSE
WPI inflation eases to 29-month low of 1.34% in March
Headline inflation in the country — gauged by the Wholesale Price Index (WPI) — cools down to a 29-month low of 1.34 per cent in March, according to official data released at noon. Inflation in manufactured products and fuel items aided the deceleration in WPI.
March becomes the 10th month in a row wherein wholesale inflation has eased sequentially.
Share Market Today LIVE | Wipro shares hit 52-week low as Infosys leads riot in Nifty IT basket
Wipro shares drop by Rs 16.4 or 4.5 per cent to Rs 351.9 apiece at the weakest level of the day so far on BSE.
Image: BSE
Share Market Today LIVE: Tata Motors to hike prices from May 1; shares under pressure
Tata Motors shares moved within a narrow range around the flatline on Monday, after the Tata group auto major announced a hike in the prices of its passenger vehicles effective May 1. Click here to read more.
Share Market Today LIVE | All 10 Nifty IT constituents in the red; Infosys down 11%
Stock CMP Change (%) Infosys (INFY) 1,240.8 -10.7 LTIMindtree (LTIM) 4,292 -7.6 Tech Mahindra (TECHM) 1,028.8 -5.3 COFORGE 3,818.8 -5.2 L&T Tech (LTTS) 3,352.9 -5 PERSISTENT 4,177.9 -4.9 MPHASIS 1,702 -3.9 HCL Technologies (HCLTECH) 1,041.6 -2.8 WIPRO 359.6 -2.4 TCS 3,161.9 -0.9 Here's a look at the heatmap in the 10-scrip IT index (by weight):
Image: Niftyindices.com
Share Market Today LIVE | HDFC Twins, Infosys, TCS top draggers
HDFC Twins, Infosys and TCS emerge as the top draggers to drag the indice down whereas RIL, ITC and SBI continue to trade in green.
Source: NSE
Nifty IT nosedives 5.5% dragged by Infosys, TCS, Tech Mahindra, LTIM
Share Market Today LIVE | HDFC Bank stock slides 2% after Q4 results
HDFC Bank shares fall by as much as Rs 39.7 or 2.3 per cent to Rs 1,653.7 apiece on BSE.
Read more on HDFC Bank shares
Share Market Today LIVE | Infosys shares slide to 52-week low as Q4 results disappoint Street
Infosys (INFY) shares tumbled by as much as Rs 169.6 or 12.2 per cent to Rs 1,219 apiece on BSE.
Zee Business Managing Editor Anil Singhvi says the IT major's results were "weak with a poor guidance". He sees support for Infosys futures emerging at Rs 1,200-1,245-odd levels.
Share Market Today LIVE | Infosys, HDFC top drags on Nifty 50, Sensex
Here's a look at the top movers and shakers in the 30-scrip basket:
Scrip Contribution Infosys (INFY) -470.8 HDFC Bank (HDFCBANK) -130.1 HDFC -101.3 Larsen & Toubro (LT) -56.9 TCS -56.3 Tech Mahindra (TECHM) -31 HCL Technologies (HCLTECH) -26.7 ICICI Bank (ICICIBANK) -19.9 Bharti Airtel (BHARTIARTL) -19.1 NTPC -12.9 State Bank of India (SBIN) 19.8 ITC 24 HUL (HINDUNILVR) 27.5 Kotak Mahindra Bank (KOTAKBANK) 29.5 Reliance Industries (RELIANCE) 46.4 Share Market Today LIVE | Nifty 50 slumps over 250 pts to 17,574, Sensex tanks over 950 pts
Both headline indices suffer losses to the tune of around 1.5 per cent in the first few minutes of trade owing to weakness in financial and IT shares.
The Sensex cracks 988.5 points to hit 59,442.5 on the downside and the Nifty 50 slides to as low as 17,574.1, down 254 points from its previous close.
Share Market Today LIVE | Sensex down 45 pts at 60,386, Nifty above 17,850 in pre-open market
The 30-scrip index settles with a cut of 45.1 points or 0.1 per cent at 60,385.9 in the pre-opening session. The Nifty is up 35 points or 0.2 per cent at 17,863.
Anil Singhvi Market Strategy | Strong Nifty buy zone at 17,550-17,600, Nifty Bank at 41,350-41,500
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,650-17,725 levels as the Indian share market resumes trading after a long weekend. For the Nifty Bank, he sees support emerging at 41,575-41,725 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | SGX Nifty futures point to a lower start ahead in Nifty 50
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty index — are down 93.5 points or 0.5 per cent at 17,777.5 at this hour, having dropped as much as 100 points or 0.6 per cent to 17,771 earlier in the day, pointing to a weak opening ahead in the Indian share market today.Good morning! Welcome to Zeebiz.com's blog on the stock market today
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