Share Market HIGHLIGHTS: Sensex ends 111 pts lower, Nifty slips to 22,453 as D-Street halts three-day winning run
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex fell on Tuesday, retreating from record highs scaled in the previous session and halting a three-day winning run, amid selling pressure in financial and IT shares though gains in auto stocks lent some support and limited the downside. Catch all the highlights of the April 2 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex halted a three-day winning streak on Tuesday, retreating from record highs registered the previous day, amid selling pressure in financial and IT stocks though gains in auto shares lent some support.
Catch all the highlights of the April 2 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
Latest Updates
Share Market Today: Tata Consumer Products, Mahindra & Mahindra, BPCL, Bajaj Auto rise most among 28 Nifty gainers; Hero MotoCorp, Kotak Mahindra Bank, HCL Tech worst hit
Top Nifty50 gainers
Stock Apr 2 close Change (%) TATACONSUM 1,130.95 4.05 M&M 1,970.00 2.82 BPCL 616.2 2.58 BAJAJ-AUTO 9,271.05 2.53 ADANIPORTS 1,402.85 1.96 TATAMOTORS 1,006.40 1.43 NESTLEIND 2,622.00 1.41 SHRIRAMFIN 2,463.45 1.3 DIVISLAB 3,608.50 1.14 INDUSINDBK 1,558.90 1.07 Top Nifty50 losers
Stock Apr 2 close Change (%) HEROMOTOCO 4,566.95 -2.43 KOTAKBANK 1,756.70 -1.9 HCLTECH 1,531.95 -1.59 ICICIBANK 1,083.15 -1.5 SBILIFE 1,469.30 -1.39 INFY 1,483.90 -0.77 APOLLOHOSP 6,410.00 -0.73 TCS 3,890.20 -0.68 WIPRO 481.65 -0.68 LT 3,811.80 -0.68 Share Market Today: Sensex drops 111 pts, Nifty at 22,453; Hero MotoCorp, Kotak Mahindra Bank top blue-chip losers, down 2%
Share Market Today LIVE: Sumeet Bagadia positive on Apollo Tyres
Mere minutes ahead of the closing bell, Sumeet Bagadia of Choice Broking shares a 'buy' call on Apollo Tyres.
Bagadia has placed his targets for the tyre stock at Rs 481 and Rs 488 with a stop loss at Rs 461.
Share Market Today LIVE: Buy Nifty50 22,600 call option at Rs 107, says Jay Thakkar
Jay Thakkar of ICICI Securities suggests buying the 22,600 call option (April 10) of the headline index at Rs 107 for targets of Rs 175 and Rs 180 with a stop loss at Rs 62.
Share Market Today LIVE: Buy Orient Electric shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart has a 'buy' call on Orient Electric (ORIENTELEC) shares.
Sethi has placed his target for the stock at Rs 225 with a stop loss at Rs 197.
Share Market Today LIVE: Buy Tata Consumer Products futures, says Sandeep Wagle
Sandeep Wagle of Sandeep Wagle Advisory Services suggests buying Tata Consumer Products futures for targets of Rs 1,150, Rs 1,155 and Rs 1,170, with a stop loss at Rs 1,120.
BSE Capital Goods index hits all-time high; BEL, HAL jump up to 5%
The S&P BSE Capital Goods index hit an all-time high of 62,520.95 levels in the intraday trade on Tuesday, April 2, on the back of healthy buying in most of its constituents. Some of the top gainers in the index included Bharat Electronics (BEL), Lakshmi Machine Works, Hindustan Aeronautics (HAL), and Schaeffler India, among others.
CAMS' subsidiary to facilitate e-insurance; stock jumps 6%
Shares of Computer Age Management Services (NSE: CAMS) gained as much as 6 per cent during the afternoon trade on Tuesday (April 2) after the company informed that its subsidiary 'CAMSREP' will issue insurance policies in electronic mode.
As of 1:01 p.m., shares of CAMS traded over 4 per cent, or Rs 135.04, higher at Rs 3,128 apiece on the BSE. The market capitalisation of the company at around the same time stood at Rs 15,371.97 crore.
Share Market Today LIVE: Buy Indian Oil, BF Utilities shares, says Nilesh Jain
Nilesh Jain of Centrum Broking shares two recommendations with Zee Business viewers:
- Buy BF Utilities shares for targets of Rs 870 and Rs 900 with a stop loss at Rs 810
- Buy Indian Oil shares for targets of Rs 175 and Rs 177 with a stop loss at Rs 168
Share Market Today LIVE: Buy SRF shares, says Sneha Seth
Sneha Seth of Angel One suggests buying SRF shares for a target of Rs 2,699 with a stop loss at Rs 2,550.
Seth's target implies an upside of 3.0 per cent in the stock from the previous close.
The stock of the multi-business chemicals conglomerate has risen 6.1 per cent so far in 2024, outperforming a 3.0 per cent gain in the headline Nifty50 index.
Image: BSEIndia.com
Share Market Today LIVE: Positive on HG Infra shares, target Rs 1,150, says Chandan Taparia
Chandan Taparia of Motilal Oswal Financial Services says HG Infra is looking good on the charts, trading near an all-time high scaled recently.
Despite a sharp run-up in the past two days, the stock looks ready for a further upside to the tune of 15-20 per cent, says Taparia.
HG shares have support at Rs 1,050 and investors may see a target of Rs 1,150 soon, he says.
Aditya Birla Capital hits 52-week high after Macquire initiates coverage with ‘outperform’, expects stock to double in 3 years
Aditya Birla Capital shares soared to a 52-week high on Tuesday after foreign brokerage Macquarie initiated coverage on the Aditya Birla group investment company. The stock of Aditya Birla Capital (ABCAPITAL) soared by as much as Rs 17.8, or 9.8 per cent, to Rs 199.6 apiece on BSE. Analysts at Macquarie believe that Aditya Birla Capital shares have the potential to double in three years.
Share Market Today LIVE: Buy Nifty Bank futures, target 48,250, says Chandan Taparia
Chandan Taparia of Motilal Oswal Financial Services suggests buying Nifty Bank futures for a target of 48,250 with a stop loss at 47,250.
The 50-scrip headline index is hovering around the 22,420 mark at this hour, having largely see-sawed within the 22,350-22,500 band in intraday trade today.Share Market Today LIVE: ICICI Bank, Kotak Mahindra Bank, L&T, HCL Tech, Bharti Airtel worst hit among 18 Sensex losers
Image: BSEIndia.com
Share Market Today LIVE: IT stocks weigh on Nifty50
Image: NSEIndia.com
Share Market Today LIVE: ICICI Bank, Larsen & Toubro, Reliance, Infosys, Kotak Mahindra Bank pull Sensex lower
Axis Bank, TCS and Bharti Airtel are also among the top contributors to the fall in the 30-scrip index.
On the other hand, buying in stocks such as HDFC Bank, M&M and Tata Motors are saving the index from deeper cuts at this hour.
Image: BSEIndia.com
Are mid- and small-cap stocks looking better now? Check analysts' views
The SMID (small and midcap) stocks, which came under the scanner after market regulator Sebi in February flagged froth in the segment, have seen bouts of volatility. The small-cap index has seen some corrections since then.
The S&P BSE SmallCap index has fallen over 4 per cent from its all-time high of 46,821.39, hit on February 7, while the S&P BSE Midcap index has been hovering around all-time highs.
India's manufacturing sector growth hits 16-year high in March as new orders jump amid buoyant demand
India's manufacturing sector growth climbed to a 16-year high in March on the back of the strongest increase in output and new orders since October 2020, amid reports of buoyant demand conditions, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) surged to a 16-year high of 59.1 in March, from 56.9 in February, reflecting stronger growth of new orders, output and input stocks as well as renewed job creation.
Vodafone Idea slips as telecom operator's board seeks approval for raising funds worth Rs 20,000 cr
Vodafone Idea started Tuesday's trading session on BSE on a low note as its stock slipped by over 2.80 per cent on a day when the company's board is seeking approval from shareholders for a fund raise worth of Rs 20,000 crore.
The Vodafone Idea stock that closed at Rs 14.02 on Monday started Tuesday's session at Rs 13.95 and slipped by 2.85 per cent to the day's low of Rs 13.62.
Share Market Today LIVE | Should you buy L&T, TCS, DLF, Godrej Properties, DMart, other stocks today?
As Dalal Street enters the April 2 session, brokerages have a dozen stocks on their radar. Here's what Goldman Sachs, Jefferies, Macquarie, JPMorgan, Citi, Morgan Stanley, CLSA and HSBC make of stocks such as Larsen and Toubro (L&T), DLF, Godrej Properties, Avenue Supermarts (DMart) and Tata Consultancy Services (TCS):
ABFRL share price target
Morgan Stanley has maintained an 'underweight' rating on the Aditya Birla Fashion and Retail Ltd (ABFRL) stock with a target of Rs 200.
Jefferies on Defence stocks: HUL, BEL and Data Patterns
Jefferies has expected that export defence opportunity should rise at 21 per cent CAGR in FY23-30. The brokerage has bullish on three defence stocks: Hindustan Aeronautics Ltd (HUL), Bharat Electronics Ltd (BEL) and Data Patterns.
The brokerage has initiated a 'buy' call on the two stock, Hindustan Aeronautics Ltd (HUL) and Data Patterns India with a target of Rs 3,900 and Rs 3,545, respectively. The brokerage has maintained its 'buy' rating on Bharat Electronics Ltd (BEL) shares with a target of Rs 260.
Jefferies on Defence
Stock Rating Target (in Rs) HUL Buy 3,900 BEL Buy 260 Data Pattern Buy 3,545 L&T share price target
Citi has maintained a 'buy' call on the Larsen & Toubro (L&T) stock with a target of Rs 4,373.
AB Capital share price target
Macquarie has an 'outperform' rating on the AB Capital stock with a target of Rs 230, while Morgan Stanley has maintained an 'equal-weight' rating on the stock with a target of Rs 190. Read more
Share Market Today LIVE | Nifty Realty marks all-time high today; Morgan Stanley says relative outperformance due to pre-sales momentum
Even as the headline indices are trading lower after record high levels scaled yesterday (April 1, 2024), Nifty Realty marked its all-time high today of 950.85. On a year-to-date basis, the index has risen by a sharp over 21 per cent, while over one year, the index zoomed 143 per cent.
Of the 10 stocks constituting the index, 8 shares trade with gains, while two blink in the red.
Prestige Estates Projects is up over 5 per cent at Rs 1,330.7, while other stocks, including the likes of Godrej Properties, Oberoi Realty, and The Phoenix Mills, trade with gains between 1-3 per cent. Read more
Traders' Diary | Buy, sell or hold strategy on Hero MotoCorp, LTIMindtree, BEL, Apollo Tyres, Divi's Labs, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Tuesday, April 2, 2024. Check out the complete list of stocks on analysts Kushal Gupta and Ashish Chaturvedi's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
Buy Symphony shares in the cash segment for a target price of Rs 892 with a stop loss at Rs 858
Sell LTIMindtree futures for a target of Rs 4,780 with a stop loss at Rs 4,980
Buy the Rs 4,700 put option of Hero MotoCorp at Rs 143 for a target of Rs 175 with a stop loss at Rs 120
Technical pick: Sell Apollo Tyres futures futures for a target price of Rs 455 with a stop loss at Rs 475
Fundamental pick: Buy Varun Beverages shares for a target of Rs 1,550 with a perspective of 3 months. Read more
Voltas, Blue Star, Varun Beverages, UBL: How consumer durables and beverage stocks are reacting to IMD's prediction of severe heat
Consumer durable stocks such as Voltas, Symphony, Blue Star and IFB Industries were trading in positive territory, while beverage stocks, Varun Beverages and United Breweries, were also in green as IMD predicted severe heat in the coming days in its April-June forecast report.
Indian Meteorological Department (IMD) said in its report that there is a fear of severe heat in Central India in April.
Share Market Today LIVE | How consumer durables and beverage stocks are reacting to IMD's prediction of severe heat
Consumer durable stocks such as Voltas, Symphony, Blue Star and IFB Industries are trading in positive territory, while beverage stocks, Varun Beverages and United Breweries, are also in green as IMD predicted severe heat in the coming days in its April-June forecast report.
Indian Meteorological Department (IMD) said in its report that there is a fear of severe heat in Central India in April. It also said that there is a possibility of more heat than normal in some parts of North and South India. After IMD's report for the April-June period, here's how consumer durables and beverage stocks are trading.
Voltas Ltd
Voltas hit a 52-week high of Rs 1,215.20, jumping by 5.35 per cent from its previous close of Rs 1,153.45. Read more
Hindustan Aeronautics, BEL, Data Patterns: Jefferies bets big on defence stocks; check out the reasons
Global brokerage Jefferies, in its latest report, notes that the global geo-political tensions and India’s rising focus on self-reliance are fueling order flow and revenue growth for domestic defence companies.
The government's focus on building country-to-country relations to promote exports is the icing on the cake. Two-times growth in domestic defence spend in FY24E–30E should continue to drive stock upside, the brokerage said in its report.
Maruti Suzuki, Hero MotoCorp, TVS Motor: How auto stocks are faring after the release of March sales numbers
Auto stocks such as TVS Motor Company, Hero MotoCorp, Ashok Leyland, and Maruti Suzuki were trading mixed in the morning deals on BSE on Tuesday (April 2, 2024) after the companies reported mixed March sales results on Monday.
While Ashok Leyland was up, TVS Motor, Hero MotoCorp, and Maruti Suzuki were trading in red.
Should you buy L&T, TCS, DLF, Godrej Properties, DMart, other stocks today? Here is what brokerages recommend
As Dalal Street enters the April 2 session, brokerages have a dozen stocks on their radar. Here's what Goldman Sachs, Jefferies, Macquarie, JPMorgan, Citi, Morgan Stanley, CLSA and HSBC make of stocks such as Larsen and Toubro (L&T), DLF, Godrej Properties, Avenue Supermarts (DMart) and Tata Consultancy Services (TCS)
CLSA ultra bullish on this retail stock; continues to upgrade target price for third time in a row
Shares of Avenue Supermarts in Tuesday’s session (April 2, 2024) were trading higher by over 1 per cent at Rs 4531.1 as Hong Kong-based global brokerage CLSA has yet again raised the target on the retail stock, while maintaining a ‘buy’ view.
The price upgrade has been initiated in less than a week to Rs 5514 from the earlier target of Rs 5307, implying potential gains to the tune of over 23 per cent from the previous close.
Q4 results calendar: TCS, Infosys, HCLTech, TechM, Asian Paints, other blue-chip firms to report Jan-Mar quarter earnings on these dates
India Inc is all set to enter a new corporate earnings season next week, with Tata Consultancy Services (TCS) scheduled to report its quarterly numbers on Friday, April 12.
Many companies have intimated the dates on which their boards will consider their earnings reports for the January-March period (the fourth and final quarter of FY24). For starters, Tata group IT giant TCS will kickstart the Q4 earnings season on Friday, April 12, followed by Infosys on April 18.
Yellow metal trades in green above Rs 68,600; white metal trades flat above 75,550
Domestic yellow metal futures on Tuesday edged higher whereas white metal traded flat with a positive bias as traders speculated on the Federal Reserve’s rate-cutting path following solid US factory data.
Last seen, MCX gold futures (Jun 5) rose Rs 302 or 0.44 per cent at Rs 68,633 per 10 grams at the last count, having traded between Rs 68,580 and Rs 68,679 earlier in the day. MCX Silver futures (May 5) were flat with a positive bias at Rs 75,568 per kg.
Share Market Today LIVE | Aditya Birla Fashion hits 10% upper circuit on demerger announcement
Shares of Aditya Birla Fashion and Retail (ABFRL) are locked in the 10 per cent upper circuit limit of Rs 232.85 apiece on the BSE on Tuesday, April 2, after the company announced on Monday to demerge its Madura Fashion & Lifestyle business from the company into a separate listed entity.
The board of ABFRL, at its meeting on Monday, authorised the management of the company to evaluate the vertical demerger of the Madura Fashion & Lifestyle business, according to a company statement. Read more
Stocks to Buy | United Spirits, SRF, Mphasis, Hind Copper among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia, Siddharth Sedani and Jay Thakkar share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as United Spirits, SRF, Mphasis, Hindustan Copper and Exide Industries. Read more
Share Market Today LIVE | Nifty Bank edges higher in morning deals
Source: NSE
Currency Update | Rupee rises 4 paise to 83.35 against US dollar in early trade
Share Market Today LIVE | Nifty trades below 22,450, Sensex down over 100 pts in opening deals
Nifty 50
Source: NSESensex
Source: BSE
Stocks To Watch | Maruti Suzuki, Bharat Dynamics, Bharti Airtel, other stocks
Here are some stocks that will be in focus on Tuesday, April 2:
Auto stocks: Auto companies will remain in focus after Hero MotoCorp and Ashok Leyland reported their monthly sales numbers post-market hours. Earlier on Tuesday, a bunch of companies reported their monthly sales, including Maruti Suzuki, Tata Motors and Eicher Motors.
Telecom companies: Reliance Industries, Vodafone Idea, and Bharti Airtel will be on investors' radar after the Telecom Regulatory Authority of India (TRAI) released subscriber data for January.
Bharat Dynamics: The company registered a turnover of around Rs 2,350 crore (provisional and unaudited) for the financial year ended on March 31, 2024, as against Rs 2,489.39 crore a year ago. The reduction was mainly on account of the current geopolitical situation prevailing in Europe and the Middle East, which had affected the company's supply chain. The company's order book till April 1, 2024 stood at around Rs 19,468 crore.
Gopal Snacks: The company will announce its Q3FY24 results on Tuesday.
IREDA: The company in its yearly update said that it has sanctioned the highest-ever loan amount of Rs 37,354 crore in the fiscal year gone by, up 15 per cent on year. Loan disbursement was to the tune of Rs 25089 crore during FY24. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support emerging at 22,325-22,425 levels and a strong buy zone at 22,175-22,250 levels for the headline Nifty50 index on Tuesday, April 2. For the Nifty Bank, he expects support to come in at 47,125-47,375 levels and a strong buy zone at 46,900-47,025 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | GIFT Nifty futures indicate a lower start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 46.6 points or 0.21 per cent at 22,556 ahead of the opening bell on Dalal Street.
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