ADVERTISEMENT

Stock Market Today: Nifty, Sensex Snap Three-Day Rally As IT Stocks Drag

The Nifty 50 ended at 22,453.30, down 8.70 points or 0.04% while the Sensex closed 110.64 points or 0.15% lower at 73,903.91.

<div class="paragraphs"><p>NSE building in Mumbai (Source: Vijay Sartape/NDTV Profit)</p></div>
NSE building in Mumbai (Source: Vijay Sartape/NDTV Profit)
ADVERTISEMENT
The Nifty 50 ended at 22,453.30, down 8.70 points or 0.04% while the Sensex closed 110.64 points or 0.15% lower at 73,903.91.
LIVE FEED
Latest First
  • Oldest First

Rupee Strengthens Against U.S. Dollar

-The local currency strengthened by 2 paise to close 83.38 against the U.S. Dollar.

-It closed at 83.40 a dollar on Thursday.

Source: Bloomberg


Nifty, Sensex Snap Three-Day Rally As IT Stocks Drag: Closing Bell

Benchmark indices snapped their three-day rally as losses in IT stocks put pressure on them but mid and small cap banks led the outperformance in the broader indices.

The Nifty 50 ended at 22,453.30, down 8.70 points or 0.04% while the Sensex closed 110.64 points or 0.15% lower at 73,903.91.

From last two days the market witnessing range bound activity, according to Shrikant Chouhan, head of equity research at Kotak Securities.

"For the traders now, 22350/73700 and 22500/74100 would act as key levels to watch out. On the higher side, above 22500/74100 the market could rally till 22600-22650/74500-74600," he said. "On the flip side, dismissal of 22350/73700 could accelerate the selling pressure. "

Stock Market Today: Nifty, Sensex Snap Three-Day Rally As IT Stocks Drag
Stock Market Today: Nifty, Sensex Snap Three-Day Rally As IT Stocks Drag
Stock Market Today: Nifty, Sensex Snap Three-Day Rally As IT Stocks Drag

Shares of Larsen & Toubro Ltd., Tata Consultancy Services Ltd., Infosys Ltd., Kotak Mahindra Bank Ltd., and ICICI Bank Ltd. weighed on the Nifty 50.

Meanwhile, those of HDFC Bank Ltd., Mahindra & Mahindra Ltd., State Bank Of India, Tata Consumer Products Ltd., and Bajaj Auto Ltd. minimised the losses.

Stock Market Today: Nifty, Sensex Snap Three-Day Rally As IT Stocks Drag

Nifty Media led the gains as most sectoral indices ended higher. On the other hand, Nifty IT fell the most.

Stock Market Today: Nifty, Sensex Snap Three-Day Rally As IT Stocks Drag

Boarder markets outperformed benchmark indices. The S&P BSE Midcap rose 1.14%, and the S&P BSE Smallcap settled 1.28% higher.

On BSE, 16 sectors advanced, and four declined. The S&P BSE Consumer Durable index was the top performing sector with over 1.82% gain. The S&P BSE TECK index fell the most among sectoral indices.

Market breadth was skewed in favour of buyers. Around 2,839 stocks rose, 1,009 stocks declined, and 112 stocks remained unchanged on BSE.


M&M Financial Services Business Update

  • Q4 disbursements at Rs 15,300 crore, up 11% YoY

  • Q4 collection efficiency at 98%

  • Stage-3 as of March 31 at around 3.3% vs 4% as of Dec 31, 2023

  • Balance sheet liquidity at over Rs 7,650 crore

  • March disbursements at Rs 6,100 crore, up 9% YoY

  • March collection efficiency at 101%

Source: Exchange Filing


JK Cement Board Approves Increasing Borrowing Limit

Board approves increasing borrowing limit to Rs 12,000 crore from Rs 7,500 crore

Source: Exchange Filing


Aditya Birla Capital Hits Over Six-Year High 

Macquarie has chosen Aditya Birla Capital as its top pick in the non-banking financial companies segment as it's on path to post strong growth in upcoming years.

Initiating coverage on the NBFC, Macquarie has rated the stock 'Outperform' with a target price at Rs 230, which implies upside of 26.48% from Monday's close.

Stock Market Today: Nifty, Sensex Snap Three-Day Rally As IT Stocks Drag

Aditya Birla Capital Ltd. rose as much as 9.76% to Rs 199.60, the highest level since Nov 29, 2017. It was trading 8.72% higher at Rs 197.70 as of 1:25 p.m., as compared to 0.24% decline in the NSE Nifty 50 index.

The scrip has risen 28.51% in 12 months. Total traded volume so far in the day stood at 7.9 times its 30-day average. The relative strength index was at 68.28.

Out of 10 analysts tracking the company, nine maintain a 'buy' rating, one recommends a 'hold,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 11.1%.























































OUR NEWSLETTERS
By signing up you agree to the Terms & Conditions of NDTV Profit