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Indian equity benchmarks erased morning gains and ended near day's high on Tuesday. The NSE Nifty 50 ended 0.75%, or 155 points, higher to close above 23,100 after falling as much as 1.1% to 22,719 during the session. The BSE Sensex gained nearly 510 points to close above 74,600 after dropping as much as 1.1%, or 824 points, to 73,282 intraday. The benchmark indices extended declines for the fourth consecutive trading session.
In commodities, Brent crude futures for June delivery fell 0.4% to $109.37 a barrel, reversing earlier gains in the session. US West Texas Intermediate futures for May delivery rose 0.3% to $112.70 a barrel.
Meanwhile, European markets opened higher after a four-day Easter break and a mixed close in the previous session. The pan-European Stoxx 600 rose 0.6% in early trade. France's CAC 40 gained 1.3%, Germany's DAX rose 0.8% and the FTSE 100 was up 0.4%. Elsewhere, Asian markets end mixed. Asia-Pacific markets ended mixed on Tuesday. Besides, US futures rebound. Futures linked to the S&P 500 were up nearly 0.1%, after declining earlier in the trade. Nasdaq 100 futures were last marginally higher and Dow Jones Industrial Average futures rebounded and gained 73 points, or 0.2%.
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Source: PTI
Source: PTI
About 14.9 lakh Reliance shares changed hands in a block deal, according to Bloomberg data. Buyers and sellers were not known immediately.
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KRN Heat said its arm has received an export order worth Rs 55 crore for heat exchanger coils, according to an exchange filing.
Source: Bloomberg
A sharp divergence between steel prices and stock performance is creating what brokerages see as a compelling entry point in the sector. Since the onset of the Middle East conflict, domestic steel prices have risen around 6%, yet shares of JSW Steel and Tata Steel have corrected 9-10%. Jefferies believes this disconnect is unsustainable and presents a clear buying opportunity, especially as earnings outlook remains stronger than consensus expectations.
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Nifty fell in pre-open trade and was down 0.6% at 22,838.70.
The rupee opened higher in trade. It appreciated by as much as 8 paise to 92.98 against the US dollar.
GIFT Nifty traded at 22,886.50, below Monday’s Nifty close of 22,968.25. The move pointed to a negative start for the market.
Jubilant FoodWorks and Gujarat Pipavav are on the downside watchlist after their updates, while Kolte-Patil is in focus after a tax notice. Pace Digitek and Glottis are also on the watchlist due to share lock-in expiry.
Among Q4 business updates, Gallant Ispat, Shyam Metaliks, PC Jeweller and Fino Payments Bank were marked strong. CreditAccess Grameen and Godrej Consumer were seen as mixed, while Jubilant FoodWorks and Gujarat Pipavav were marked weak.
GIFT Nifty traded at 22,975, compared with the previous Nifty close of 22,968.25.
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