The Indian stock market concluded the day with marginal movements amidst a volatile trading session. Notable decliners on the Nifty included Hero MotoCorp, HCL Technologies, Kotak Mahindra Bank, ICICI Bank, and SBI Life Insurance, while Tata Consumer Products, M&M, BPCL, Bajaj Auto, and Adani Ports emerged as the top gainers.
In terms of sectors, real estate, metals, oil & gas, media, power, and automotive sectors all saw gains of 1% each, whereas the Information Technology and Telecom indices experienced a decline of 0.5%.
Meanwhile, both the BSE Midcap and Smallcap indices demonstrated an uptrend, each recording a 1% increase.
The focus has shifted to RBI policy which will be announced on April 5th. Six members MPC will commence its 3-day meeting from April 3rd onward.
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Apr 02, 2024, 3:37 pm IST
Market Sees Muted Close Amidst Volatility; Nifty Holds 22;450
The Indian stock market concluded the day with marginal movements amidst a volatile trading session. Notable decliners on the Nifty included Hero MotoCorp, HCL Technologies, Kotak Mahindra Bank, ICICI Bank, and SBI Life Insurance, while Tata Consumer Products, M&M, BPCL, Bajaj Auto, and Adani Ports emerged as the top gainers.
Apr 02, 2024, 3:08 pm IST
Heatwave in India strengthens RBI's case to postpone rate reduction
Economists predicted that a scorching heat wave that will affect a significant portion of the nation will worry Indian policymakers, who are already dealing with persistent inflation, and may cause them to postpone interest rate cuts.
The country's weather service forecasted hotter-than-normal temperatures on Monday for the three months leading up to June, with a high likelihood of heat wave occurrences lasting up to 10 or 20 days in some areas.
Apr 02, 2024, 1:46 pm IST
CSB Bank Declares 21.3% YoY Growth In Q4 Deposits
CSB Bank has registered total deposits at Rs 29,719 crore for the quarter ended March FY24, up 21.27% over year-ago period. Gross advances declared at Rs 24,574 crore, increased by 17.91% during the same period. CSB Bank shares zoomed 3.35% after the latest update to 379.75 apiece on BSE.
Apr 02, 2024, 1:40 pm IST
Buy Titan Company Shares, TP Rs 4300: Analyst
Motilal Oswal has issued buy recommendation to Tata Group stock Titan Company Limited with target price of Rs 4300 apiece. Current market price of Titan Company share on BSE is Rs 3756.05 apiece with intraday gain of 0.48%. Currently, Titan Company is trading 3.32% down from 52-week high price of Rs 3885.00 per share on BSE. If you buy Titan Company shares at current market price of Rs 3756.05 apiece, you can fetch potential return of 14.48%.
Apr 02, 2024, 1:01 pm IST
MTAR Technologies Ltd shares Gain 13.33% In 1-Week
Aerospace & Defense company MTAR Technologies Ltd shares zoomed 7.39% intraday today on BSE. Current market price of MTAR Technologies share on is Rs 1900.60 apiece. The company has a market capitalisation of Rs 5846.17 crore. MTAR Technologies shares have been witnessing sharp rally every since the government allowed approximately 100% FDI in space sector. It is worth mentioning that shares from the space sector like BHEL, MTAR, Apollo Micro have been rising.
Apr 02, 2024, 11:58 am IST
Choice International Shares In Focus
In collaboration with Solar91, Choice's subsidiary CCSPL receives an X520 Cr solar plant project in Jodhpur, Rajasthan. The company declared that it has won a joint venture contract with Solar91 Cleantech Pvt Ltd to create a solar plant for Jodhpur Vidyut Vitran Nigam Ltd.
Apr 02, 2024, 11:42 am IST
Veefin Solutions Shares In Focus
The Central Bank of India (CBI) is utilizing the technology and experience of Veefin to expand into the Supply Chain Financing space. Throughout the process, CBI will only work with one technology vendor, Veefin Solutions, a leader in the world of digital lending and supply chain financing solutions. Through this cooperation, CBI will be able to cover the whole supply chain financing journey by utilizing Veefin's Global-First end-to-end SCF stack. This comprises onboarding for vendors, channel partners, and anchors; credit underwriting using Veefin's Loan Origination System (LOS) with ready-built APIs linking to the India stack and other external data sources; and loan administration and transaction handling with its SCF Loan administration System. With these components, CBI will be able to provide its corporate and SME clients with a fully digital onboarding, sanctioning, and round-the-clock disbursement procedure through their SCF solutions.
Apr 02, 2024, 11:09 am IST
BigBloc Construction Technologies Shares In Focus
In Kheda district, close to Ahmedabad (Gujarat), SIAM Cement BigBloc Construction Technologies Pvt Ltd (Subsidiary of BigBloc Construction Ltd), a joint venture between Thailand's SCG International India Pvt Ltd and Gujarat's BigBloc Construction Ltd, has started production at the company's 2.5 lakh cubic meter per year Greenfield project. The joint venture company will use the facilities to produce AAC Blocks and ALC panels, which it will then sell under the brand name "ZMARTBUILD WALL by Nxtbloc." An estimated Rs. 65 crore would be invested in the Kheda project. At full capacity the plant is expected to generate revenues of around Rs. 100 crore yearly, according to the company.
Apr 02, 2024, 10:50 am IST
SpiceJet Set To Receive Q400 Aircraft From NAC In Settlement Agreement
As part of a settlement deal signed last year, SpiceJet is scheduled to get a Q400 aircraft secured from Nordic Aviation Capital (NAC). Six Q400s that NAC leased to SpiceJet are now fully owned by the airline as a result of the arrangement, which also resolves any prior liabilities. Five Q400 aircraft that were formerly owned by NAC are already in service with the airline. The aircraft have been handed to SpiceJet. From Germany, the sixth Q400 aircraft is currently in route to India and will be in Delhi shortly. SpiceJet secured full ownership of 13 Q400 aircraft that were sponsored by Export Development Canada (EDC) in a major settlement that was announced on March 26. According to SpiceJet's statistics, this comprehensive deal cleared liabilities of almost million, resulting in significant savings of INR 567 crore for the airline.
Apr 02, 2024, 10:21 am IST
Tata Technologies Shares In Focus
Tata Technologies Limited has today executed a Joint Venture Agreement with BMW Holding B.V., Netherlands (‘BMW’). The joint venture will aid BMW Group in engineering premium products, delivering great digital experiences for its customers and propelling its digital transformation journey. The focus will be on delivering automotive software, including software-defined vehicle (SDV) solutions for its premium vehicles and digital transformation solutions for business IT, as per a regulatory filing.
Apr 02, 2024, 9:35 am IST
Crude Oil Expectations
Rahul Kalantri, VP Commodities, Mehta Equities: We expect crude oil prices to remain volatile this week amid volatility in the dollar index and geo-political tensions. Crude oil is having support at .80–82.10 and resistance is at .10-84.80 in today’s session. In INR crude oil has support at Rs6,910-6,830 while resistance is at Rs 7,065-7,115.
Apr 02, 2024, 9:35 am IST
Market Key Triggers
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services: A distinct feature of a bull market is its ability to set new highs. This was evident yesterday when the Nifty set a new intraday high. In this bullish scenario characterised by strong momentum and supported by sustained gush of capital flows into the market, every dip will be bought, imparting resilience to the market. Since the global construct is slightly negative as evidenced by the rising dollar and rising US bond yields ( the 10-year is at 4.3%) the FPIs may be tempted to sell. But FPI selling is not having any major impact on the market since DIIs, HNIs and retail investors are calling the shots now. Even while riding the bull, investors should know that liquidity is overwhelming fundamentals in many pockets of the broader market. This calls for caution.
Apr 02, 2024, 9:34 am IST
Derivative Market Outlook
Anand James, Chief Market Strategist, Geojit Financial Services: Nifty weekly contract has highest open interest at 22500 for Calls and 22300 for Puts while monthly contracts have highest open interest at 22500 for Calls and 22000 for Puts. Highest new OI addition was seen at 22500 for Calls and 22500 for Puts in weekly and at 23500 for Calls and 22600 for Puts in monthly contracts. FIIs increased their future index long position holdings by 5.17%, increased future index shorts by 2.42% and in index options by 26.45% in Call longs, 14.75% in Call short, 35.18% in Put longs and 25.90% in Put shorts.
Apr 02, 2024, 9:32 am IST
Sensex, Nifty
Sensex trades between 74,022.30 to 73,792.53, while Nifty 50 performed between 22,468.10 to 22,414.35. Both benchmarks have pulled slightly from their lifetime highs.
Apr 02, 2024, 9:12 am IST
Rupee Holds Over 83 Per Dollar Mark
The Indian rupee traded at 83.4 against US dollar index in the opening bell of April 2nd, mildly strengthening from the previous day. Fed rate cut expectations continues, however, traders hope for clarity in the time line as equity markets globally witnessed cautious tone.
Apr 02, 2024, 8:14 am IST
Nifty, Bank Nifty Today
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects the Nifty 50 to find support and resistance around the 22,300 and 22,600 levels on April 2nd. Bank Nifty is expected to find support and resistance around 47,200 and 48,000 respectively.
Apr 02, 2024, 8:13 am IST
Market In Previous Session
Sensex and Nifty witnessed a strong rally to hit a new lifetime high. The 30-scrip benchmark 363.20 surged by 0.49% to end at 74,014.55 after hitting a new record high of 74,254.62, while the 50-scrip index closed at 22,462 higher by 135.10 points or 0.61% after clocking a new peak of 22,529.95.
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