Sensex Today | Why is stock market up today?: Stock Market Live Updates: Sensex reclaims Mt 49K. Financial, auto stocks lead rally. India VIX eases 2%. Catch the top movers & shakers….
Sensex and Nifty are promoted for the third year in a row. The reference indices are at their highest level in three weeks. Bajaj Finance Biggest Nifty Pack Winner. Eicher Motor, Bajaj Auto, Bajaj Finserv, the IndusInd Bank, Tata Motors, UPL, SBI, Eicher Motors and M & M also win. Hindalco top loser. Other laggards are JSW Steel, Britannia, SBI Life Insurance, Hindalco, Cipla and Tata Steel. With the exception of metals, other Nifty industry indices are green. Analysts attributed market optimism to superior fourth quarter results. In addition to rising Covid cases, FII outflows remain a matter of concern.
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Bajaj Finance stocks rose over 7 percent on Wednesday after the company reported a 42 percent increase in consolidated net income for the fourth quarter of its fiscal year ended March 2021.
TVS Motor stocks are zooming more than 17 percent after strong fourth-quarter earnings
TVS Motor Company’s shares rose over 17 percent on Wednesday after the company nearly quadrupled its consolidated net income for the fourth quarter ended March 31, 2021. The stock rose 16.74 percent to its year high of Rs 661.10 on BSE. On NSE, it rose 17.25 percent to 664 rupees – its 52-week high.
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Zomato will submit draft paper to Sebi to raise Rs 8,250 crore
Grocery supplier Zomato has submitted a draft Red Herring Prospectus (DRHP) for its upcoming IPO. The company and its shareholders plan to raise Rs 8,250 crore from the primary markets.
Smallcap is raising eyebrows at an increase of 1,440% per year. What is cooking
Subex, almost entirely owned by retail and high net worth shareholders, has posted a return of 1,440 percent since May last year. The stock is now trading at Rs 55, up from Rs 3.50 per share last year. This increase came after about 12 years of underperformance.
Morepen Laboratories plans to raise over Rs 433 cr by issuing shares on a preferential basis
Pharmaceutical company Morepen Laboratories announced on Wednesday that its board of directors has given preference to raising more than Rs.433 billion by issuing shares to Swiss private venture capital company Corinth Investment Holdings and Liquid Holdings, a promotional group of the company.
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Pharmaceutical stocks remain a mixed bag; Sun Pharma Top Gainer
Price as of April 28, 2021 11:20 a.m.Click on company names to see their live prices.
Anupam Rasayan bags order worth Rs 1,100 Cr for the supply of specialty chemicals
Anupam Rasayan said Wednesday it had won a Rs 1,100 order to supply specialty chemicals related to life sciences.
The rupee rose by 22 paise to 74.44 rupees against the US dollar in early trading
The Indian rupee rose 22 paise against the US dollar against the US dollar on Wednesday to reach 74.44 as a positive trend in the stock markets lifted investor sentiment. Forex traders said local unit appreciation could be curtailed amid a surge in coronavirus infections and deaths in the country and while investors wait for the Fed’s monetary policy outcome.
Axis Bank impressed analysts with the show in the fourth quarter. Price targets increase by up to 47%
CLSA raised its target from Rs.1,000 to Rs. 1,025 per share, citing the strong fourth quarter in terms of asset quality with a slip. The broker expects Axis Bank to achieve 16-17 percent annual pre-accrual growth in core operating income for fiscal year 21-23.
IndusInd Bank among the top winners in the banking package
Price as of April 28, 2021 10:36 a.m.Click on company names to see their live prices.
IndiGrid NCD problem opens; Chance to get 8.2% yield on “safest” paper
The public issue of NCD (non-convertible debt) securities by IndiaGrid, an infrastructure investment trust that owns a number of assets in the energy sector, opened for subscription on Wednesday. The NCD promises up to 8.2 percent interest per year, a considerably high return for a security with the highest rating in a low interest rate environment. This edition has been rated “AAA / Stable” by Crisil and “AAA / Stable” by India Ratings.
Will RIL ricochet now? There are signs that it is awakening from sleep
In recent sessions, there have been signs that RIL NSE 0.71% may be ready to wake up and re-enter the bull market that recently hit a roadblock after the second wave of Covid-19. In the last five sessions, the stock is up 5 percent due to high trading and delivery volumes.
Amid the world’s worst Covid outbreak, rising inflation risks loosening monetary policy on the RBI
Bajaj Auto, Bajaj Finance, SBI, Bajaj Finserv and IndusInd Bank are the top Sensex winners
On the other hand, UltraTech Cement, Axis Bank and Dr. Reddy’s among the six laggards in the 30 scrip index.
Market breadth extremely positive, front-to-back ratio at 3: 1
Overall market breadth favored gains on early deals as 1,667 stocks of BSE traded higher than 576 that succumbed to negative territory. On NSE, 1,341 stocks rose while 392 fell.
OPENING BELL | Sensex recovers 49,000 points, an increase of 250 points; Nifty Tops 14,700
Bajaj Finance, Axis Bank increase 2% each
Pre-open session: Sensex wins 140 points, Nifty tops 14,700
Q4 results today
KPP Tech, Bajaj Finserv, Biocon, Tata Communications, Carborundum Universal, KPR Mill and UTI Asset Management Company are among the companies to release their quarterly results today.
Fed policy outcome today
The Federal Reserve is committed to continuing to stimulate the U.S. economy until it recovers from the Covid-19 pandemic, and is expected to remain firm in that stance when it concludes its political session on Wednesday. However, with the accelerated vaccination campaign offering hope that life may return to normal after the disruptions caused by the pandemic, the Fed must face growing concerns that rising economic activity will trigger uncontrolled inflation.
SGX Nifty signals a positive start
Nifty Futures on the Singapore Exchange was down 46 points, or 0.31 percent, at 14,704.50, suggesting Dalal Street got off to a negative start on Wednesday.
Tech View: Nifty takes out 20 EMA, next stop at 14,750
Nifty50 closed its 20-day exponential moving average (EMA) on Tuesday. This was the third session in a row that the index had a higher high-low formation. On the daily scale, the index formed a bullish candle after forming two indecisive charts. Analysts said the daily momentum indicators had turned in favor of the bulls. They believe Nifty could test the 14,750 level in the coming days.
Tokyo stocks open lower before the holidays
Tokyo shares opened lower on Wednesday, with profitable selling ahead of the Japanese Golden Week holidays weighing on the market. The benchmark Nikkei 225 index fell 0.35 percent or 102.24 points to 28,889.65 in early trading, while the broader Topix index fell 0.09 percent or 1.75 points to 1,901.80.
China stocks fall in early trading
China’s benchmark Shanghai Composite Index fell 0.30 percent or 10.45 points to 3,432.16, while the Shenzhen Composite Index on China’s second stock exchange fell 0.24 percent or 5.47 points to 2,276.46.
Hong Kong stocks rise at the start of trading
Hong Kong stocks opened in gains on Wednesday morning, with investors cautiously watching US Treasury bond yields again amid fears that inflation will rise and potentially lead to rate hikes. The Hang Seng Index gained 0.17 percent, or 50.40 points, to 28,991.94.
US stocks traded flat
US stocks were largely flat on Tuesday while technology stocks fell amid a flurry of quarterly earnings and ahead of the Federal Reserve’s two-day meeting. The benchmark index Dow Jones Industrial Average closed essentially unchanged at 33,984.93, as did the broad-based S&P 500, which fell less than one point from Monday’s record to close at 4,186.72. The tech-rich Nasdaq Composite Index fell 0.3 percent to 14,090.22.
Rupee closes 7 paise at 74.66 against dollars
The rupee rose 7 paise and closed at 74.66 (tentatively) against the US dollar on Tuesday on positive domestic stocks. In the interbank foreign exchange market, the local unit opened at 74.65 versus the greenback, posting an intraday high of 74.51 and a low of 74.73.
Sensex, Nifty on Tuesday
The stock benchmark Sensex gained 558 points on Tuesday, due to the gains in the index heavyweights Reliance Industries, HDFC Bank and L&T. The 30-share BSE index closed 557.63 points, or 1.15 percent, higher at 48,944.14. Similarly, the wider NSE Nifty rose 168.05 points, or 1.16 percent, to 14,653.05.
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