Business News›Markets›Stocks›Live Blog›Stock Market Highlights: Nifty forms Inside Bar candle. What should traders do on Tuesday
LIVE BLOG
Stock Market Highlights: Nifty forms Inside Bar candle. What should traders do on Tuesday
06 May, 2024 | 08:50:29 PM IST
Nifty on Monday ended 33 points lower to form an Inside Bar pattern on the daily chart with the India VIX recording a surge of over 13%.
“We need to wait and watch, till the high (22,589) or low (22,409) is taken out for further direction on Nifty. Support for the Nifty is now seen at 22,350 and 22,200-250 levels. On the higher side, the immediate resistance zone for Nifty is at 22,600-625 levels and the next resistance is at 22,800 Mark. Overall, Nifty is likely to remain volatile within 22,200–22,800 range in the near term with a negative bias, said Tejas Shah, Technical Research, JM Financial & BlinkX.
Coming to the OI Data, on the call side, the highest OI was observed at 22500 followed by 22700 strike prices while on the put side, the highest OI was at 22500 strike price.
Show more“We need to wait and watch, till the high (22,589) or low (22,409) is taken out for further direction on Nifty. Support for the Nifty is now seen at 22,350 and 22,200-250 levels. On the higher side, the immediate resistance zone for Nifty is at 22,600-625 levels and the next resistance is at 22,800 Mark. Overall, Nifty is likely to remain volatile within 22,200–22,800 range in the near term with a negative bias, said Tejas Shah, Technical Research, JM Financial & BlinkX.
Coming to the OI Data, on the call side, the highest OI was observed at 22500 followed by 22700 strike prices while on the put side, the highest OI was at 22500 strike price.
1 New Update
Godrej Consumer Q4 Results
Cons loss at Rs 1893 cr vs proifit of Rs 452 cr YoY
Tech View: Nifty forms Inside Bar candle. What should traders do on Tuesday
Nifty on Monday ended 33 points lower to form an Inside Bar pattern on the daily chart with the India VIX recording a surge of over 13%.
“We need to wait and watch, till the high (22,589) or low (22,409) is taken out for further direction on Nifty. Support for the Nifty is now seen at 22,350 and 22,200-250 levels. On the higher side, the immediate resistance zone for Nifty is at 22,600-625 levels and the next resistance is at 22,800 Mark. Overall, Nifty is likely to remain volatile within 22,200–22,800 range in the near term with a negative bias, said Tejas Shah, Technical Research, JM Financial & BlinkX.
Coming to the OI Data, on the call side, the highest OI was observed at 22500 followed by 22700 strike prices while on the put side, the highest OI was at 22500 strike price.
“We need to wait and watch, till the high (22,589) or low (22,409) is taken out for further direction on Nifty. Support for the Nifty is now seen at 22,350 and 22,200-250 levels. On the higher side, the immediate resistance zone for Nifty is at 22,600-625 levels and the next resistance is at 22,800 Mark. Overall, Nifty is likely to remain volatile within 22,200–22,800 range in the near term with a negative bias, said Tejas Shah, Technical Research, JM Financial & BlinkX.
Coming to the OI Data, on the call side, the highest OI was observed at 22500 followed by 22700 strike prices while on the put side, the highest OI was at 22500 strike price.
The domestic indices traded in a range-bound manner influenced by PSU banks’ underperformance due to the RBI's tighter norms on lending to projects under development. The broader indices also witnessed major selling pressure due to valuation concerns and profit booking. Globally, weaker US payroll data has increased expectations of potential FED rate cuts. Investors are closely monitoring this week’s FED speakers for insights on future monetary policy.
- Vinod Nair, Head of Research, Geojit Financial Services
Rupee ends weaker pressured by oil cos' dollar buys, forward premiums inch up
The Indian rupee ended lower on Monday as dollar demand from local oil companies and other importers, pressured the local currency even as most of its Asian peers gained.
The rupee closed at 83.4875 against the U.S. dollar, weaker than its previous close at 83.4225.
The rupee closed at 83.4875 against the U.S. dollar, weaker than its previous close at 83.4225.
Top gainers & losers in closing trade
Price as on 03:35:52 PM 03:35 PM, Click on company names for their live prices.
Closing Bell: Sensex ends marginally higher after volatile trade; Nifty below 22,500; Kotak Bank gains 5%, Titan plunges 7%
Stock Market LIVE Updates | Indegene IPO fully subscribed on day 1
Subscription status at 1.12x
Sensex Today | Stock Market LIVE Updates | IIFL Finance facing a liquidity crunch after gold loan business curbs, sources say
Price as on 03:19:26 PM 03:19 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Mahindra and Mahindra Financial Services says collection efficiency at 89% for April
Price as on 03:11:22 PM 03:11 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Top gainers from tourism & hospitality
Price as on 03:06:37 PM 03:06 PM, Click on company names for their live prices.
Stock Market LIVE Updates: Energy Mission Machineries IPO to open on May 9
Energy Mission Machineries (India) Ltd announced on Monday that it has set the price band for its initial public offering (IPO) at Rs 131-138 per equity share. The IPO, aimed at raising around Rs 41 crore, will open on May 9 and close on May 13. The shares will be listed on the NSE SME's platform, Emerge, according to a statement from the company.
European shares climb on energy boost, rate-cut hopes
European shares rose on Monday, with investor optimism over interest rate cuts from major central banks back to the fore, while Spanish defence and technology firm Indra jumped following a strong first-quarter profit.
The pan-European STOXX 600 was up 0.3% as of 0830 GMT. UK equities are closed due to a bank holiday.
The pan-European STOXX 600 was up 0.3% as of 0830 GMT. UK equities are closed due to a bank holiday.
Sensex Today | Stock Market LIVE Updates | Arvind Q4 Results
- Overall Revenues stood at ₹2,075 Cr a growth of 10% YoY
- EBITDA of ₹243 Cr a growth of 27%, margin up by 156 bps to reach 11.7%
- Highest PAT in past seven quarters of ₹99 Cr, a growth of 19% YoY
Sensex Today | Stock Market LIVE Updates: CG Power and Industrial Solutions Q4 Results
- PAT at Rs 234 crore vs Rs 426 crore YoY
- Revenue ay Rs 2,192 crore vs Rs 1,903 crore YoY
Sensex Today | Stock Market LIVE Updates: Arvind Ltd posted a 2.1% rise in fourth-quarter profit as demand for its textiles remained steady. The company, which sells international brands like Tommy Hilfiger, Arrow and Calvin Klein, said its consolidated net profit rose to Rs 99 crore from Rs 97 crore a year earlier.
Price as on 01:45:42 PM 01:45 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Top 5 gainers in the IT software pack
Price as on 01:29:47 PM 01:29 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Sensex trades flat
Stock Market LIVE Updates: European shares rise on energy boost, rate-cut hopes
European shares advanced on Monday, buoyed by investor optimism regarding global interest rate cuts. The pan-European STOXX 600 increased by 0.2% as of 0720 GMT, with energy stocks leading sectoral gains due to rising oil prices following Saudi Arabia's decision to raise June crude prices and slim prospects of a Gaza ceasefire deal. Additionally, Spanish defence and technology firm Indra saw a notable surge after reporting strong first-quarter profits.
Sensex Today | Stock Market LIVE Updates: Indegene IPO subscription crosses halfway mark; NII portion fully booked
- QIB: NIL
- NII: 1.04x
- Retail: 0.68x
- Overall: 0.57x
Sensex Today | Stock Market LIVE Updates: Inox Wind says targetting to be net debt free in H1 FY25 (Source: ET NOW)
Price as on 12:44:01 PM 12:44 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: HCLTech And Amazon Web Services enter strategic collaboration to accelerate GenAI adoption
Price as on 12:37:02 PM 12:37 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Top gainers & losers in mid-afternoon session
Price as on 12:12:08 PM 12:12 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Cartrade Tech Q4 PAT rises
- PAT at Rs 22.52 crore vs Rs 14.96 crore
- Revenue at Rs 145 crore vs Rs 95.86 crore
Sensex Today | Stock Market LIVE Updates: Mangalore Refinery And Petrochemicals targets to process 17 million T crude in 2024/25
Price as on 11:54:28 AM 11:54 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: PSU bank stocks fall up to 6% as new RBI guidelines spoil mood
Today, shares of PSU bank stocks, including Canara Bank, Punjab National Bank, and Bank of Baroda, dropped by up to 6%. India's largest lender, State Bank of India (SBI), also saw a decline of over 3%, leading to a more than 4% decrease in the Nifty PSU Bank index. This downturn was prompted by the impact of RBI's draft circular proposing stricter guidelines on project financing. Under these guidelines, lenders would need to make provisions of up to 5% of the outstanding exposures during construction, which would then reduce to 2.5% once the asset becomes operational.
Sensex Today | Stock Market LIVE Updates: Caplin Point Laboratories has received Colombia's INVIMA approval for its Softgel Capsules division at Puducherry. The site inspection of Unit-1 was completed on May 3rd and found compliant as per INVlMA's norms of Good Manufacturing Practices (GMP) and Good Laboratory Practices (GLP).
Price as on 11:30:00 AM 11:30 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Shares of Tata Technologies fell to day’s low of Rs 1,032.95 as the brokerages cut target price on the stock after the company reported its Q4 earnings.
Price as on 11:23:29 AM 11:23 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | CLSA ON RBI GUIDELINES
• NBFCs follow Ind-AS accounting
• Higher provisions will only impact PFC & RECs impairment reserves & won't drag down their profit
• PFC, REC are well capitalised; no impact on profit and loss, only drag on capital adequacy
• PFC and REC latest tier-1 stood at 23%; cos are well capitalised
Source: ET NOW
• Higher provisions will only impact PFC & RECs impairment reserves & won't drag down their profit
• PFC, REC are well capitalised; no impact on profit and loss, only drag on capital adequacy
• PFC and REC latest tier-1 stood at 23%; cos are well capitalised
Source: ET NOW
Sensex Today | Stock Market LIVE Updates: All Adani stocks trade in the red
Price as on 10:36:22 AM 10:36 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: PSU Bank index tanks nearly 4%
- All indices from the PSU Bank index trade in the red
Sensex Today | Stock Market LIVE Updates | Indegene IPO opens for subscription. Should you bid?
The public subscription for the initial public offer (IPO) of Indegene commenced on Monday and is set to conclude on May 9. Prior to the opening of the issue, the company secured approximately Rs 549 crore from anchor investors. The IPO consists of a fresh equity issue valued at up to Rs 750 crore and an offer for sale (OFS) of up to 2.93 crore equity shares by existing investors. Analysts view the Indegene IPO as a distinctive chance for investors to participate in a prominent provider of digital-driven commercialization services specialized for the life sciences sector.
Stock Market LIVE Updates: Nifty slips into the red
Nifty erases opening gains, falls in negative territory
Sensex Today | Stock Market LIVE Updates: Paytm fell 5% after Bhavesh Gupta, Chief Operating Officer and President of One 97 Communications (OCL), resigned from the fintech firm.
Price as on 09:46:25 AM 09:46 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: One Point One Solutions secured new client-win in European region
Price as on 09:37:00 AM 09:37 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Kotak Mahindra Bank emerged as the top performer, surging 4% after the bank reported an 18.22% year-on-year (YoY) increase in its standalone profit for Q4 FY24 to Rs 4,133.30 crore. Additionally, its net interest income (NII) for the same quarter increased by 13% YoY to Rs 6,909 crore.
Price as on 09:32:04 AM 09:32 AM, Click on company names for their live prices.
Forex Alert | Rupee gains vs US dollar
Rupee rises 3 paise to 83.42 against US dollar in early trade.
Sensex Today | Stock Market LIVE Updates: Most active stocks on NSE
Price as on 09:20:31 AM 09:20 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Sensex heatmap
- Only 5 Sensex stocks in the red in opening trade
Sensex Today | Stock Market LIVE Updates: Opening Bell
Sensex gains 300 points, Nifty above 22,500; Kotak Bank rises 3%, Titan falls 3%
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex gains over 400 points; Nifty above 22,550
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | JEFFERIES ON KEI INDUSTRIES
• Maintain Buy; Hike target price to Rs 4770 from Rs 3850
• Q4 In Line; Outlook Remains Strong
• Capacity expansion plans intact to support growth
• Commodity price impact passed on
• Believe the next 12-18 months KEI will show positive surprise particularly on Power T&D cabling orders
Source | ET NOW
• Q4 In Line; Outlook Remains Strong
• Capacity expansion plans intact to support growth
• Commodity price impact passed on
• Believe the next 12-18 months KEI will show positive surprise particularly on Power T&D cabling orders
Source | ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | NUVAMA ON TITAN
• Downgrade to Hold from Buy; Cut target price to Rs 3867 from Rs 4106
• Reported a 9% miss in consensus earnings driven by weaker jewellery margins
• Jewellery: High competition and elevated gold prices dent margins
• Premiumisation in analogue watches; eyewear lacking growth
• Outlook: Softer margins in jewellery due to increased competition
Source | ET NOW
• Reported a 9% miss in consensus earnings driven by weaker jewellery margins
• Jewellery: High competition and elevated gold prices dent margins
• Premiumisation in analogue watches; eyewear lacking growth
• Outlook: Softer margins in jewellery due to increased competition
Source | ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | JPMORGAN ON TATA TECH
• Maintain Underweight with target price of Rs 800
• Q4 print - revenues beat, margins in line
• Vinfast will bottom out in Q1, weak exit a challenge for FY25 growth
• Margins would likely be maintained in FY25
Source: ET NOW
• Q4 print - revenues beat, margins in line
• Vinfast will bottom out in Q1, weak exit a challenge for FY25 growth
• Margins would likely be maintained in FY25
Source: ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | BofA ON TATA TECH
• Maintain Buy with target price of Rs 1250
• Q4: Miss on headline but solid breadth of growth
• Growth to reaccelerate in FY25
• Current pace of EV adoption not a concern
• Tailwinds in ER&D, FY25 prospects to drive stock returns
Source | ET NOW
• Q4: Miss on headline but solid breadth of growth
• Growth to reaccelerate in FY25
• Current pace of EV adoption not a concern
• Tailwinds in ER&D, FY25 prospects to drive stock returns
Source | ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | BERNSTEIN ON KOTAK MAHINDRA BANK
• Maintain Market-Perform with target price of Rs 1650
• Q4 - A stellar quarter, if only numbers mattered
• Healthy loan growth and shift to unsecured segments continue
• Solid deposit growth even if led by Term deposits
• ~3% RoA and 17.4% RoE; NIM improves 6 bps QoQ
Source: ET NOW
• Q4 - A stellar quarter, if only numbers mattered
• Healthy loan growth and shift to unsecured segments continue
• Solid deposit growth even if led by Term deposits
• ~3% RoA and 17.4% RoE; NIM improves 6 bps QoQ
Source: ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | JP MORGAN ON BRITANNIA
• Maintain Neutral with target price of Rs 5260
• Q4: In-line; Subdued revenue growth weighed down by pricing actions
• Key Positive - progressively improving market share
• See downside risk to our earnings estimates post the Q4 print
Source: ET NOW
• Q4: In-line; Subdued revenue growth weighed down by pricing actions
• Key Positive - progressively improving market share
• See downside risk to our earnings estimates post the Q4 print
Source: ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | JP MORGAN ON AVENUE SUPERMARTS
• Upgrade to Overweight from Underweight; Hike target price to Rs 5400 from Rs 3555
• Strong moats intact; robust revenue growth augurs well
• Gradual margin expansion ahead
• Valuations, though premium, are below historical average and will be supported by longevity of healthy growth
• Risk-reward is favorable with business set up well for acceleration
Source: ET NOW
• Strong moats intact; robust revenue growth augurs well
• Gradual margin expansion ahead
• Valuations, though premium, are below historical average and will be supported by longevity of healthy growth
• Risk-reward is favorable with business set up well for acceleration
Source: ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | JP MORGAN ON KOTAK MAHINDRA BANK
• Upgrade to Overweight from Neutral; target price at RS 2070
• 20% loan growth; unsecured share continues to move up
• Asset quality solid; Liquidity comfortable to push for growth
• Believe Bank can continue to compound balance sheet at 16% CAGR over next 2 years
• Too cheap for the growth
Source | ET NOW
• 20% loan growth; unsecured share continues to move up
• Asset quality solid; Liquidity comfortable to push for growth
• Believe Bank can continue to compound balance sheet at 16% CAGR over next 2 years
• Too cheap for the growth
Source | ET NOW
Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | ANTIQUE ON OIL EXPLORERS
• ONGC - Maintain Buy; Hike target price to Rs 339 from Rs 292
• Oil India - Maintain Buy; Hike target price to Rs 709 from Rs 591
• Premium gas prices coming soon; significant re-rating trigger
• 20% premium on new APM production to be notified T
• Oil prices are expected to remain elevated
• Both ONGC and OIL are likely to witness production growth
Source: ET NOW
• Oil India - Maintain Buy; Hike target price to Rs 709 from Rs 591
• Premium gas prices coming soon; significant re-rating trigger
• 20% premium on new APM production to be notified T
• Oil prices are expected to remain elevated
• Both ONGC and OIL are likely to witness production growth
Source: ET NOW
Sensex Today | Stock Market View: Prashanth Tapse, Senior VP (Research), Mehta Equities
Nifty is poised for a bullish start this Monday, buoyed by weaker-than-expected US jobs data, a dip in WTI oil prices, and a surge in Wall Street fueled by Apple's stock repurchase plan. Market sentiment remains optimistic, supported by hopes of political continuity amidst ongoing general elections. However, concerns loom over inconsistent Q4 corporate earnings. Volatility is expected post-market open, with a focus on key earnings reports. Kotak Mahindra Bank's robust performance stands out, while preferred trades include Nifty and Bank Nifty with specified targets and stop-loss levels. The stocks like COAL INDIA, TATA MOTORS, and NTPC are viewed favourably on corrective declines, while IRCTC emerges as a top pick for its momentum potential.
Sensex Today | Stock Market LIVE Updates: Asia shares rally on Fed cut bets; yen pares gains
On Monday, Asian stocks saw an uptick as investors renewed their expectations that the Federal Reserve might implement rate cuts later this year. Meanwhile, the yen experienced a decline following a significant surge last week, which was attributed to suspected currency intervention by Tokyo.
Sensex Today | Stock Market LIVE Updates: Oil nudges higher after Saudi Arabia hikes prices
Oil futures edged up on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil producing region.
Sensex Today | Stock Market LIVE Updates: Gold dips as dollar edges higher, investors seek more Fed cues
During early Asian trading hours on Monday, gold prices experienced a slight decline as the dollar strengthened, while traders awaited insights from a lineup of Federal Reserve officials regarding the timeline for potential interest rate cuts in the United States.
Sensex Today | Stock Market LIVE Updates: Dollar steady after soft US jobs report; yen starts week on back foot
On Monday, the dollar remained relatively stable, buoyed by a subdued U.S. jobs report that heightened expectations of potential rate cuts by the Federal Reserve later this year. Meanwhile, the yen showed slight weakness as the week commenced.
Sensex Today | Stock Market LIVE Updates: Stocks in news: YES Bank, Godrej Consumer, Kotak Bank, IDBI Bank, DMart
In today's trade, shares of YES Bank, Godrej Consumer, Kotak Bank, IDBI Bank, DMart, Titan among others will be in focus due to various news developments and quarterly earnings.
Sensex Today | Stock Market LIVE Updates: Stock Radar: Federal Bank breaks out from a range to hit fresh record highs in May
Federal Bank, a player in the private sector banking realm, has recently broken out from a tight consolidation range that persisted since February 2024. This breakout signifies an opportunity for the stock to ascend towards new highs.
Sensex Today | Stock Market LIVE Updates: Quarterly earnings today
Godrej Consumer, Lupin, Indian Bank, Marico and a slew of other companies will announce their fourth quarter results today.
Sensex Today | Stock Market LIVE Updates: Ahead of Market: 10 things that will decide stock action today
The Nifty 50, a prominent index of top-tier stocks, experienced a 0.8% decline, while the S&P BSE Sensex fell by 1% during the day's trading, primarily influenced by the performance of IT stocks. Earlier in the session, the Nifty 50 had climbed approximately 0.6% to reach a peak. Throughout the week, both benchmarks saw a modest increase of about 0.25%, marking their second consecutive weekly ascent.
