Share Market HIGHLIGHTS: Sensex ends 845 pts lower at 73,400, Nifty gives up 22,300 as D-Street extends losses to 2nd session
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex started the week on a negative note tracking weakness across global markets owing to tensions in the Middle East. Catch minute-by-minute updates of all the action in the Indian share market today, 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 Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex began the week on a negative note on Monday, April 15, tracking weakness across global markets owing to tensions in the Middle East.
Catch minute-by-minute updates of all the action in the Indian share market today, 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:
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Share Market Today: Sensex drops 845 pts to 73,400, Nifty gives up 22,300 as market continues to fall for second straight session
Share Market Today LIVE: Hold NMDC shares, says Astha Jain
Astha Jain of Hem Securities suggests holding NMDC shares for targets of Rs 260 and Rs 290 with a stop loss at Rs 216.
Share Market Today LIVE: Wholesale inflation worsens to 0.53% in March from 0.20% in February
Wholesale inflation, or the rate of increase in wholesale prices of a basket of goods and services, in the country stood at 0.53 per cent in March, as against 0.20 per cent the previous month, official data showed on Monday. According to Zee Business research, wholesale inflation, gauged by the Wholesale Price Index (WPI), was expected to be at 0.51 per cent in March.
Wholesale food inflation, measured by the WPI Food Index, stood at 4.65 per cent last month as against 4.09 per cent in February.
Share Market Today LIVE: Buy ONGC shares, says Arpit Beriwal
Arpit Beriwal of Motilal Oswal Financial Services suggests buying ONGC shares for targets of Rs 294 and Rs 300 with a stop loss at Rs 270.
Share Market Today LIVE | Zomato shares tumble over 6% in 2 days despite brokerages positive calls
Zomato shares continue their losing streak and are trading with a cut of 1.71 per cent ot Rs 3.3 per share at Rs 189.15, while at the day’s low it hit a price of Rs 184 per share.
The losses in the food services aggregator stock are triggered despite global brokerage UBS's buy call on the counter with a raised target of Rs 250 from the earlier Rs 195. The newly set target price implies a potential upside of over 30 per cent in the stock price of the new-age stock that has seen its stock rise tremendously.
The brokerage is of the view that quick commerce (QC) growth and margin potential remain under-appreciated and are not fully priced in. Read more
HDFC Bank Q4 Results Preview | PAT likely to surge 31% with stable margin, asset quality
HDFC Bank, the country's largest lender by market value, is all set to report its financial results for the January-March period on Saturday, April 20. Analysts expect the private sector bank to stage a strong overall financial performance for the final three months of the previous financial year, with stable margins and slightly better steady asset quality.
According to Zee Business research, HDFC Bank is likely to register a standalone net profit of Rs 15,800 crore for the March quarter, which translates into a jump of 31.2 per cent compared with the corresponding period a year ago. The analysts estimate the lender's quarterly net interest income (NII), or the difference between interest earned and interest paid, at Rs 29,300 crore, up 25.5 per cent on a year-on-year basis. Read more
Share Market Today LIVE | ICICI Bank, HDFC Bank, Infosys, L&T among top drags in Nifty50
Source: NSE
Share Market Today LIVE | What should investors do with TCS shares post Q4 results, dividend?
Tata Consultancy Services (TCS) kicked off the fourth quarter earnings season for India Inc on Friday, April 12. The results announced post-market hours, were mostly in line with analysts' estimates. Here's what brokerages make of TCS Q4 FY24:
TCS share price target: Should you buy/sell/hold?
- JPMorgan has upgraded TCS to an overweight call from a neutral rating. The brokerage has raised the target to Rs 4,500 from Rs 4,000.
- Morgan Stanley has maintained an overweight rating with a target of Rs 4,350. Read more
Share Market Today LIVE | Nifty Bank falls nearly 600 pts in morning deals
Source: NSE
Share Market Today LIVE | TCS shares advance after positive margin expansion in Q4; global brokerages divided
After the technology major Tata Consultancy Services (TCS) reported stable Q4 results with better margins, shares of the company gain over 1.5 per cent to Rs 4,064.2 apiece at day's high in an otherwise weak market. Nonetheless, major foreign brokerages are divided in their views on the Tata group IT stock.
Post market hours on Friday, the IT technology services provider recommended final dividend of Rs 28 per share, record deal wins, and a 100 basis point increase in operating margin were some of the major highlights. Read more
Image: Reuters/ Representational image Share Market Today LIVE | Gold zooms 15% year-to-date (YTD); experts list 10 factors
Gold prices in the aftermath of the Iran-Israel crisis have skyrocketed to new highs.
Here are the reasons for the record-breaking gains in the precious yellow metal:
Geopolitical Tension:
After the Ukraine-Russia, the recent Israel-Iran crisis has given gold a new life and boosted its safe-haven appeal. As per a Reuters report, Iran launched the attack over a suspected Israeli strike on its embassy compound in Syria on April 1 that killed top Revolutionary Guards commanders and followed months of clashes between Israel and Iran's regional allies, triggered by the war in Gaza.
Global economic slowdown:
Even though economies worldwide are recovering from the coronavirus crisis, a Reuters poll covering 48 economies showed that economists forecast global growth at a mere 2.6 per cent in 2024.
Central banks increasing their gold reserves:
Central banks have been recently reported to up their gold reserves for a couple of reasons including hedging geopolitical risks etc. As per the World Gold Council (WGC), the central banks have been aggressively accumulating their gold reserves and added 39 tonnes to their kitty in January alone. Read more
Stocks to Watch | TCS, Cummins India, Patanjali Foods, Wipro
Here are some stocks that will be in focus on Monday, April 15:
TCS: Tata Consultancy Services (TCS), the IT bellwether, released its Q4 FY24 numbers on Friday, April 12, post-market hours. The company's consolidated net profit inched higher to Rs 12,434 crore from Rs 11,058 crore logged in the previous quarter.
Wipro: The company signed a definitive agreement to subscribe for the equity share capital in FPEL Ujwal Private Limited. Wipro’s shareholding has diluted from 9.95 per cent to 7.07 per cent with effect from April 11, 2024.
Zaggle Prepaid Ocean Services: The company entered into an agreement with Eversub India.
Cummins India: The company's board will consider Q4FY24 results and final dividend for the FY 2023-24, in a meeting on May 29, 2024.
Patanjali Foods: The company's revenue from the Edible Oil segment in Q4 showed modest single-digit growth compared to the previous quarter, accompanied by a favourable earnings before interest tax depreciation and amortisation (EBITDA) margin, as per its business update.
NTPC, Torrent Power: The centre invokes Section 11 of the Electricity Act. In view of the increased demand for power, the centre has asked all gas-based power plants to remain operational from May 1 to June 30, 2024.Read more
Share Market Today LIVE | Sensex falls over 550 pts, Nifty sinks below 22,350 in opening deals
Sensex
Source: BSENifty 50
Source: NSE
Currency Update | Rupee falls 6 paise to 83.44 against US dollar in early trade
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 stronger support zone at 22,175-22,300 levels for the headline Nifty50 index on Monday, April 15. For the Nifty Bank, he expects initial support to come in at 47,900-48,075 levels followed by a stronger support zone at 47,550-47,725 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 weaker start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 130.95 points or 0.58 per cent at 22,470.5 ahead of the opening bell on Dalal Street.
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