Share Market HIGHLIGHTS: Sensex leaps 401 pts, Nifty back above 17,700 led by financial, IT stocks
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex staged a dramatic recovery in the second half of a volatile session on Monday, led by gains in financial, IT and oil & gas shares. The Indian share market tracked cautious moves across global markets as the focus shifted to macroeconomic data and a slew of big earnings announcements due during the course of the week. Among heavyweights, ICICI Bank, HDFC Bank, Axis Bank and SBI were the biggest boosts for headline indices, whereas stocks such as Bharti Airtel, Maruti Suzuki and Sun Pharma played spoilsport.
Here are some of the headlines in focus on Dalal Street on April 24:
- 140% return in 5 years! Is this index heavyweight still a 'buy'?
- ICICI Bank Q4 review: Domestic brokerages see 30% upside in stock
- Pick of the Week: TCS, Pidilite, IDFC among analysts' top picks this week
- Gold rate back below Rs 60,000 per 10 grams
- Sun Pharma shares drop after company halts shipments from Mohali facility
Catch minute-by-minute updates of all the action in the Indian share market on April 24, 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 staged a dramatic recovery in the second half of a volatile session on Monday, led by gains in financial, IT and oil & gas shares. The Indian share market tracked cautious moves across global markets as the focus shifted to macroeconomic data and a slew of big earnings announcements due during the course of the week. Among heavyweights, ICICI Bank, HDFC Bank, Axis Bank and SBI were the biggest boosts for headline indices, whereas stocks such as Bharti Airtel, Maruti Suzuki and Sun Pharma played spoilsport.
Here are some of the headlines in focus on Dalal Street on April 24:
- 140% return in 5 years! Is this index heavyweight still a 'buy'?
- ICICI Bank Q4 review: Domestic brokerages see 30% upside in stock
- Pick of the Week: TCS, Pidilite, IDFC among analysts' top picks this week
- Gold rate back below Rs 60,000 per 10 grams
- Sun Pharma shares drop after company halts shipments from Mohali facility
Catch minute-by-minute updates of all the action in the Indian share market on April 24, 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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Global Market Update | Dow Jones, S&P 500, Nasdaq Composite futures point to a weak start ahead in US stock market today
The futures contracts of three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — indicate a lower start ahead in the US share market later on Monday. The US stock market is due to open at 7:00 pm India time.
Here's where the three futures contracts stand at this hour:
- Dow Jones: down 66 points or 0.2 per cent at 33,884
- S&P 500: down nine points or 0.2 per cent at 4,147.8
- Nasdaq Composite: down 20 points or 0.2 per cent at 13,070.5
ITC shares recover intraday losses to touch all-time high of Rs 410
ITC shares rise to an all-time high of Rs 410 apiece on BSE, having made a dramatic recovery to the tune of Rs 5.8 from their weakest level of the day.
Image: BSE
Share Market Tips LIVE | Buy Nifty50 17,750 call option at Rs 66.5, says Jay Thakkar
Jay Thakkar of Sharekhan recommends buying the 17,750 call option of the Nifty index at Rs 66.5 for targets of Rs 108 and Rs 130 with a stop loss at Rs 90.
Sensex LIVE | Wipro, Titan, ICICI Bank, SBI, Axis Bank rise most among 23 gainers in 30-scrip basket
Here's a look at the entire pack:
Image: BSE
Share Market Today LIVE | ICICI Bank, HDFC twins, Axis Bank, SBI top boosts for Nifty 50
Here's a look at the heatmap in the 50-scrip basket 30-odd minutes ahead of the closing bell:
Image: Niftyindices.com
Global Market LIVE | European shares muted ahead of key macro data, big earnings this week
European shares begin the day on a subdued note as investors await more economic data this week and earnings from some of the highest-valued US companies along with major European banks and consumer companies.The pan-European STOXX 600 index is flat, with oil and gas shares down around half a per cent tracking oil prices.
- UK's FTSE 100: down 0.1 per cent
- France's CAC: down 0.2 per cent
- Germany's DAX: down 0.1 per cent
Share Market Tips LIVE | Buy Tejas Networks, Union Bank, says Vkas Sethi
In conversation with Zee Business Managing Editor Anil Singhvi, Vikas Sethi of Sethi Finmart shares two recommendations:
- Buy Tejas Networks shares for a target of Rs 655 with a stop loss at Rs 615
- Buy Union Bank shares for a target of Rs 76 with a stop loss at Rs 70
Share Market Tips LIVE | Buy HDFC Bank Rs 1,700 call option, says Himanshu Gupta
In conversation with Zee Business Managing Editor Anil Singhvi, Himanshu Gupta of Globe Capital Markets suggests buying the Rs 1,700 call option of HDFC Bank in the current series at Rs 5.5 for targets of Rs 8.5 and Rs 10 with a stop loss at Rs 3.5.
IndusInd Bank Q4 Results | Profit, NII miss analysts' estimates; shares slide into the red
IndusInd Bank reports a standalone profit of Rs 2,043 crore for the quarter ended March, as against a net profit of Rs 1,361.4 crore for the corresponding period a year ago. Its net interest income (NII) — or the difference between interest earned and interest paid — increased to Rs 4,670 crore from Rs 3,985 crore a year ago, according to a regulatory filing.
According to Zee Business research, the lender's quarterly profit was estimated at Rs 2,100 crore and NII at Rs 4,750 crore.
The company's board recommends a dividend of Rs 14 per share.
Share Market Today LIVE | Sun Pharma shares drop after company halts shipments from Mohali facility
Sun Pharma decline by as much as Rs 29.2 or 2.9 per cent to Rs 960 apiece on BSE, after US drug regulator FDA directs the Indian pharma company to take certain corrective actions at its Mohali facility in Punjab before releasing final product batches into the US.
Share Market Tips LIVE | TCS, Pidilite, IDFC among analysts' top recommendations for the week
In this special Zee Business segment, Pick of the Week, market experts share their top recommendations for the week.
- Rakesh Bansal of Rakesh Bansal Ventures recommends buying IDFC shares for a target of Rs 86.5 a stop loss at Rs 79.9; he also recommends buying TCS shares with a stop loss at Rs 3,120
- Mehul Kothari of Anand Rathi Securities recommends buying Trent shares for a target of Rs 1,480 and a stop loss at Rs 1,330
Catch the full list of Pick of the Week recommendations here
Share Market Today LIVE | ITC, Bajaj Auto, Godrej Consumer, RVNL, Cyient hit 52-week highs
A number of stocks in the BSE 500 universe scale fresh 52-week highs, including ITC, Bajaj Auto, Godrej Consumer Products, Ircon, RVNL, Aegis Logistics and Cyient.
Here's the full list:
| Stock | New 52-week high | Existing 52-week high |
| Aegis Logistics (AEGISLOG) | 409.4 | 405 (Apr 5, 2023) |
| Anupam Rasayan (ANURAS) | 1,077 | 1,076 (Apr 21, 2023) |
| Bajaj Auto (BAJAJ-AUTO) | 4,353 | 4,335.9 (Apr 21, 2023) |
| CYIENT | 1,230.1 | 1,194.1 (Apr 21, 2023) |
| GLENMARK | 518.5 | 517 (Apr 21, 2023) |
| Godrej Consumer Products (GODREJCP) | 994.5 | 990.6 (Apr 21, 2023) |
| IRCON | 69.6 | 66.8 (Dec 7, 2022) |
| ITC | 410 | 409 (Apr 21, 2023) |
| NCC | 116 | 114.4 (Apr 21, 2023) |
| Rail Vikas Nigam (RVNL) | 88.8 | 84.2 (Nov 29, 2022) |
| ZYDUSLIFE | 524.4 | 520.5 (Apr 21, 2023) |
Share Market Today LIVE | Tata Consumer PRoducts shares surge amid large deals
The stock of Tata group company Tata Consumer Products — whose popular brands include Tata Salt, Tata Starbuck, Tata Coffee Gold Tetley and Tata Sampann — rise as much as 4.3 per cent to Rs 729.9 apiece on BSE as about 12 lakh shares of the company change hands in large deals.
Share Market Today LIVE | Indiabulls Real Estate surges with huge volumes
Indiabulls Real Estate holds on near its intraday high with a gain of 12.2 per cent at Rs 63.8 apiece on BSE, trading in huge volumes. Earlier in the day, the stock gained by as much as 7.6 or 13.3 per cent to Rs 64.5 apiece on the bourse.
Image: BSE
As many as 15.1 lakh Indiabulls Real shares have changed hands on the exchange so far today, as against a daily average of 7.1 lakh in the past two weeks, according to provisional exchange data.