Good afternoon!
It turned out to be a marvelous Monday for investors on Dalal Street as the BSE Sensex zoomed over 1,300 points 935.72 points to reclaim 60k mark, boosted by intense buying in banking and financial stocks after the announcement of merger between HDFC and HDFC Bank.
The 30-share BSE index closed 1,335.05 points or 2.25 per cent higher at 60,611.74. Likewise, the NSE Nifty jumped 382.95 points or 2.17 per cent to end at 18,053.40.
What's next? Here are the latest updates!
3:38 pm: Market ends lower
Sensex ended 435 points lower at 60,168 and Nifty fell 96 points to 17,957.
3:13 pm: Market check
Sensex slips 443 points to 60,168 and Nifty down 100 points to 17,952.
2:15 pm: Adani Group shares defy market fall: Four hit record highs
Shares of Adani Group rallied amid a falling market with four of them hitting their all-time highs today. While shares of Adani Enterprises zoomed to an all-time high of Rs 2,198, stock of Adani Power zoomed to a record high of Rs 232.9 on BSE.
Similarly, shares of Adani Green Energy touched an all-time high of Rs 2,208.75 against the previous close of Rs 2,116.60 and Adani Wilmar logged a fresh high of Rs 580.20 in the noon session today. The rise in the Adani Group shares came on a day when broader market was trading in the red.
1:34 pm: Market check
Sensex rises 32 points to 60,644 and Nifty gains 40 points to 18093.
1:15 pm: SBI Cards stock slips 5%, falls after two sessions
Shares of SBI Cards and Payment Services fell nearly 5% today amid reports that Carlyle Group, a private equity firm, will exit the firm via block trade today.
SBI Cards and Payment Services stock slipped 4.71% to Rs 835.45 against the previous close of Rs 876.75 on BSE. The large cap stock has fallen after two days of consecutive gain. The stock trades higher than 20 day and 50 day moving averages but lower than 5 day, 100 day and 200 day moving averages.
SBI Cards stock has lost 10.2% in one year and fallen 8.78% in 2022. Total 53.15 lakh shares of the firm changed hands amounting to a turnover of Rs 452.37 crore on BSE. The stock hit a 52 week high of Rs 1164.65 on September 1,2021 and a 52 week low of Rs 712.35 on March 7, 2022.
12:30 pm: Sensex losers
Top Sensex losers are HDFC Bank, BajajFinserv, HDFC and RIL, falling up to 2.58% in afternoon session. Of 30 Sensex stocks, 20 are trading in the green.
12:00 pm: Market check
Equity benchmark Sensex was trading over 200 points lower at 60,401. Likewise, Nifty was down over 39 points at 18,014.25.
HDFC twins were the top losers on Sensex, followed by Bajaj twins, RIL, Wipro and Kotak Mahindra Bank.
Titan and NTPC were among the top gainers.
11:30 am: Garment Mantra Lifestyle stock zooms 11% amid market fall
Shares of Garment Mantra Lifestyle rose nearly 7 per cent in early trade today after the board of the firm approved stock split in the ratio of 1:10.
The stock opened with a gain of 2.47 per cent at Rs 101.80 today against the previous close of Rs 99.35 on BSE. Later, Garment Mantra Lifestyle stock zoomed 10.71 per cent to an intraday high of Rs 110. The share trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
Share Market LIVE: Sensex drops over 200 pts, Nifty holds 18k; HDFC Bank tanks 3%
11:00 am: Zomato shares tank 5% after CCI orders probe into unfair business practices
Shares of food aggregator Zomato slipped 5 per cent to hit an intraday low of Rs 82.15 on BSE after the Competition Commission of India (CCI) ordered a probe into the operations and business models of food delivery majors, Swiggy and Zomato pertaining to alleged violations of Section 3(1) and 3(4) of the Competition Act.
The CCI, in its order dated April 4, 2022, stated that there exists a prima facie case with respect to some of the conduct of Zomato and Swiggy, which requires an investigation by the Director General (‘DG’), to determine whether the conduct of these companies have resulted in contravention of the provisions of Section 3(1) 3(4) of the Competition Act.
The stock opened 4 per cent lower at Rs 82.75 against the previous close of Rs 86.20.
10:30 am: Hindustan Zinc stock gains 2.5% on rise in March output
Shares of Hindustan Zinc gained over 2 per cent in early trade today after the firm reported a 17 per cent rise in its mined output (Q-o-Q basis) in the March quarter.
Hindustan Zinc stock climbed 2.48 per cent to Rs 333 against the previous close of Rs 324.95 on BSE. The large cap stock opened with a gain of 2.03 per cent at Rs 331.55.
10:00 am: TCS shares in focus
Shares of Tata Consultancy Services (TCS) were trading higher in early trade on Tuesday after the company said that it has entered into a partnership with Canada’s largest payment organisation, Payments Canada, to transform its payment system operations and help in the implementation of the Real-Time Rail (RTR).
RTR is a new real-time payments system that will allow Canadian users to initiate payments and receive irrevocable funds in seconds, any time of the day.
RTR will offer Payments Canada members new ways of paying and getting paid in real-time. It will provide a faster alternative to other payment options, and a new way to pay for goods and services, and transfer money, the company stated.
9:16 am: Market opening
Equity benchmark Sensex opened flat at 60,607. Likewise, Nifty was also trading 19 points higher at 18,072.
NTPC was the top gainer on Sensex, followed by M&M, Sun Pharma, Power Grid and TCS.
HDFC and HDFC Bank were the top losers.
8:45 am: FII and DII action
Foreign institutional investors (FIIs) bought shares worth Rs 1,152.21 crore on April 4, and domestic institutional investors (DIIs) purchased shares worth Rs 1,675.01 crore, as per provisional data available on NSE.
8:40 am: Global updates
Wall Street's main indexes rose on Monday, boosted by megacap tech and growth stocks and a surge in Twitter after Elon Musk revealed his stake in the company, amid cautionary signals in the bond market and talk of more sanctions against Russia over Ukraine.
The Dow Jones Industrial Average rose 103.61 points, or 0.3 percent, to 34,921.88, the S&P 500 gained 36.78 points, or 0.81 percent, at 4,582.64 and the Nasdaq Composite added 271.05 points, or 1.9 percent, at 14,532.55.
Asian Markets were trading mixed in the morning session on Tuesday with Straits Times gained 0.6 percent, while Nikkei and Kospi down marginally.
8:30 am: SGX Nifty
The Indian equity market is likely to open higher today as SGX Nifty was trading 93 points higher at 18,185.
The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Monday
Sensex surged over 1,300 points to reclaim the 60,000-level on Monday, led by intense buying in banking and financial stocks after the announcement of the merger between HDFC and HDFC Bank.
Strong global cues and receding crude oil prices also propped up the domestic equity markets, according to traders.
In the biggest merger in corporate history, India's largest housing finance company HDFC Ltd will merge with the country's largest private lender HDFC Bank to create a banking behemoth.
Shares of HDFC and HDFC Bank rallied nearly 10 per cent as investors lapped up the merger deal. Sensex closed 1,335.05 points or 2.25 per cent higher at 60,611.74 and Nifty jumped 382.95 points or 2.17 per cent to close at 18,053.40.