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Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

The Nifty ended at 22,368.00, up 31.60 points or 0.14% while the Sensex closed at 73,738.45, up 89.83 points or 0.12%.

<div class="paragraphs"><p>NSE building in Mumbai (Source: Vijay Sartape/NDTV Profit) </p></div>
NSE building in Mumbai (Source: Vijay Sartape/NDTV Profit)

Rupee Strengthens Against U.S. Dollar

  • The local currency strengthened by 3 paise to close at 83.34 against the U.S. Dollar.

  • It closed at 83.37 a dollar on Monday.

Source: Bloomberg

Sensex, Nifty Gain For A Third Day Led By Bharti Airtel: Closing Bell

Benchmark equity indices ended little higher as shares of Bharti Airtel Ltd. led the gains but the upside was limited due to losses in those of Reliance Industries.

The Nifty ended at 22,368.00, up 31.60 points or 0.14% while the Sensex closed at 73,738.45, up 89.83 points or 0.12%.

The Index found resistance at the bearish gap zone of 22,430-22,500, said Aditya Gaggar, director of Progressive Shares. "Our view remains the same i.e. need to fill the mentioned gap zone to extend its uptrend while a level of 22,190 (50 DMA) will continue to act as support."

The India NSE Volatility Index ended 19.72% lower at 10.20 on Tuesday. "The suddenness of VIX’s fall today, especially when Nifty barely rose above 0.5%, needs to be factored in when acting on the VIX’s signal," said Anand James, Chief Market Strategist, Geojit Financial Services.

He added VIX is calculated on the basis of bid ask quotes of near as well as next month Nifty option contracts, and contracts expiring from 26th April onwards would be having a lot size of 25, half of what is in play now, which could have a role in bid asks getting tighter.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel
Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel
Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Shares of Bharti Airtel Ltd., Grasim Industries Ltd., ITC Ltd., State Bank Of India Ltd., and Maruti Suzuki Ltd. contributed the most to the gains.

While those of Reliance Industries Ltd., Sun Pharmaceutical Industries Ltd., HDFC Bank Ltd., Mahindra & Mahindra Ltd., and Bajaj Finance Ltd. capped the upside.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Sectoral indices were mixed at close with Nifty Realty rising the most by nearly 3%. Nifty Pharma fell 1%.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Broader markets outperformed benchmarks. The S&P BSE Midcap index ended 0.52% higher, and the S&P BSE Smallcap index settled 1.05% up.

On BSE, 16 sectors out of 20 advanced, and four declined. The S&P BSE Telecommunication index was the top gainer, and the S&P BSE Energy index was the top loser.

Market breadth was skewed in favour of the buyers. Around 2,347 stocks rise, 1,453 stocks declined, and 126 stock remained unchanged on BSE.

Maruti Suzuki Hits Lifetime High

The scrip rose as much as 1.87% to Rs 13,024.50 apiece, the highest level. It has risen 26.3% on a year-to-date basis and 51.5% in the last twelve months.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Aditya Birla Stocks Trade Higher

Mastek Gets Multi-Tower Deal From Yanbu Cement Co

Gets deal to optimise production processes

Source: Exchange Filing

NBCC Shares Jump As FY24 Orders Up 250% YoY

  • Secured orders worth over Rs 23,500 crore in FY24 on a consolidated level, up over 250% YoY

  • Commercial real estate inventory sale at World Trade Centre, New Delhi, at over Rs 6,480 crore

Source: Exchange filing

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Zydus Life China Arm Gets Desidustat Accepted In China

Wholly-owned China-based arm gets new drug application of Desidustat accepted in China

Desidustat is used for treating anaemia in chronic kidney disease patients

Source: Exchange Filing

All European Indices Trade Higher

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Nifty, Sensex Gain On Global Cues; Bharti Airtel, ITC, HCL Tech Rise: Midday Market Update

India's benchmark indices were trading higher through midday on Tuesday in tandem with the Asian market rally fueled by an improved global risk appetite.

At 1 p.m., the NSE Nifty 50 was trading 68.85 points or 0.3% higher at 22,405.25, and the S&P BSE Sensex gained 221.36 points or 0.3% to trade at 73,869.98.

The Nifty 50 hit an intraday high of 22,447.55 and the Sensex touched a high of 74,059.89 so far on Tuesday.

The overall positive momentum is likely to push the Nifty 50 higher to fill the bearish gap zone of 22,430-22,500 while on the lower side, a level of 22,180 will act as support, Aditya Gaggar, director, Progressive Shares said.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel
Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

"Support for Bank Nifty is observed between 47,575 and 47,675, while resistance is seen between 48,150 and 48,250," Jain said.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Bharti Airtel Ltd., ITC Ltd., HCL Technologies Ltd., Grasim Industries Ltd., and State Bank India supported the benchmark index.

Reliance Industries Ltd., Sun Pharmaceutical Industries Ltd., Larsen & Toubro Ltd., and HDFC Bank Ltd. weighed on the index.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

On NSE, nine sectors advanced and three declined. The NSE Nifty Realty index was the top gainer, while NSE Nifty Oil & Gas index was the top loser.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Broader markets rose. The S&P BSE Midcap index was 0.37% higher, and the S&P BSE Smallcap was 0.86% up.

On BSE, 18 sectors advanced and two declined. The S&P BSE Telecommunication index rose over 2% to become the top gainer. The S&P BSE Energy was the top loser.

Market breadth was skewed in favour of the buyers. Around 2,370 stocks advanced, 1,227 stocks declined, and 141 stocks remained unchanged on BSE.

Financial Fraud At M&M Finance Took Place At Aizawl Branch In Mizoram

  • Personnel from the direct marketing vertical involved

  • One area manager, two business executives are likely under arrest

  • Aadhaar and voter-id documents were being forged for last 2-3 years

Source: People in the know

Financial Fraud Detected And Reported In Mid-March 2024

  • FIR has been filed with Mizoram police in Aizawl around March 20

  • FIR filed based on internal audit

  • Case likely transferred to CID department in Mizoram police

Source: People in the know

Eicher Motors Gains Nearly 4% In Two Days

The scrip rose as much as 1.52% at Rs 4,485, its lifetime high. It has risen 9.06% on the year to date basis and 36.9% in the last twelve months.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Sun Pharma Shares Pare Losses After Falling 3.6%

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Tata Power Arm In Pact With Indian Bank

In pact for solar rooftop financing

Source: Exchange Filing

Vodafone Idea Extends Gains After Board Approves FPO Issue Price

Shares of Vodafone Idea Ltd. jumped more than 14% on Tuesday to the highest in over a month as its board approved the issue price for its Rs 18,000-crore follow-on public offer.

The telecom operator set the offer price for the FPO at Rs 11 per share. Offer price for anchor investors set at Rs 11 per share, according to an exchange filing.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

On the NSE, Vi's stock rose as much as 14.34% during the day to Rs 14.75 apiece, the highest since March 5. It was trading 13.57% higher at Rs 14.65 apiece, compared to a 0.34% advance in the benchmark Nifty 50 at 12:32 p.m.

The share price has risen 130.71% in the last 12 months, but declined 10.63% year to-date. The total traded volume so far in the day stood at 5.8 times its 30-day average. The relative strength index was at 63.50.

Out of 16 analysts tracking the company, one has a 'buy' rating on the stock, three recommend 'hold' and 12 suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 49.8%.

Volatility Gauge Down Over 20% As Nifty, Sensex Up

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Cochin Shipyard Hits Lifetime High

The stock has risen nearly 12% in its three-day rally. It rose as much as 10.76% lifetime high of Rs 1,224.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Bharti Airtel Hits Lifetime High

The stock gained over 4% to hit its lifetime high of Rs 1,350 and contributed 30 points out of the 84 points rise in Nifty as of 12:21 p.m.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

BSE Shares Hit Lifetime High

BSE Ltd. rose as much as 7.35% to Rs 3,060.90 apiece, the highest level since its listing on Feb 3, 2017. It was trading 7.13% higher at Rs 3,054.70 apiece, as of 12:09 p.m. This compares to a 0.34% advance in the NSE Nifty 50 Index.

It has risen 566.89% in 12 months. Total traded volume so far in the day stood at 3.0 times its 30-day average. The relative strength index was at 71.35, which implied the stock is overbought.

Out of eight analysts tracking the company, six maintain a 'buy' rating, two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a downside of 0.5%.

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Macrotech Developers Jumps Nearly 4% Ahead Of Results

Stock Market Today: Sensex, Nifty Gain For A Third Day Led By Bharti Airtel

Citi "Neutral" On M&M Financial Services At Rs 315 Target

  • Financial impact of fraud detected at Rs 150 crore

  • Fraud incident to spook confidence on improving asset quality

  • Event to be sentimentally negative for the stock

  • Downside risks: Weak monsoons impacting rural consumption, aggressive competition

  • Upside risks: Better than expected margin improvement, credit cost containment

JP Morgan Maintains 'Overweight' on RIL, Target Rs 3,100

  • Q4 net profit 4% ahead of brokerage estimates

  • Higher O2C EBITDA dampened by weaker E&P, slow Retail revenue growth

  • Retail business seems to have undertaken some restructuring

  • Headline GRMs weaker in Q1FY25 as higher oil prices seem to have pressured cracks

  • Spending on new petchem and renewable capacities to help further growth

  • Key catalysts: Telecom tariff increases; listing of subsidiaries

Yes Bank Clarifies On Emirates NBD's Likely Acquisition

  • Clarifies on media reports on Emirates NBD's likely acquisition of majority stake in Bank

  • Says reports are 'speculative' and it is not appropriate for the bank to comment on it

Source: Exchange filing

HPL Electric Locked In Upper Circuit On Product Launch

Shares of HPL Electric & Power Ltd. hit an 10% upper circuit and rose to over two-month high on Tuesday after it launched a brand new consumer electrical product.

The company launched HPL Fans on Monday in Middle East, Africa, and SAARC countries. Customers can start booking the product through its website, HPL Electric & Power said in an exchange filing.