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Closing Bell: Nifty ends below 17,500, Sensex falls 237 pts; auto, bank drag, metals shine – Moneycontrol

April 13, 2022 / 08:14 AM IST

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April 13, 2022 / 03:55 PM IST

Rupak De, Senior Technical Analyst at LKP Securities:

Nifty remained volatile with a largely negative bias throughout the session. On the lower end, the index challenged the support levels of 17400-17450. On the higher end, it failed to sustain above 17600. 

Going ahead, the weakness may continue. Crucial support is seen at 17400, below which a serious correction in the market may be witnessed. On the higher end, resistance is visible at 17600/17800.

April 13, 2022 / 03:52 PM IST

Vinod Nair, Head of Research at Geojit Financial Services: 

Though the global markets have already factored higher levels of inflation owing to high fuel and food prices, the unfavourable numbers dampened investor sentiments. 

The ECB policy decision will be closely monitored for direction on how the Central bank plans to balance slowing growth and record-high inflation. With the onset of the earnings season, the market is likely to be buoyed by sector specific momentum.

April 13, 2022 / 03:52 PM IST

Kunal Shah – Senior Technical & Derivative Analyst at LKP Securities:

The Bank Nifty index saw fresh short position built up in the future segment indicating weakness. The index however is stuck in a broad range between 37,000-38,000 and a breach on either side will result in trending action. 

The index if breaches the level of 37,000 next week will open room for further downside towards 36,000 level.

April 13, 2022 / 03:50 PM IST

S Ranganathan, Head of Research at LKP securities:

Capital Goods stocks were sought after today on expectations of revival in capex spends. March exports rising 20% boosted sentiments even as the street remains cautious on rising inflation and commodity prices and its impact on earnings of companies. The broader markets saw demand for Hospitality, Cement & Gas stocks.

April 13, 2022 / 03:35 PM IST

Market Close: Benchmark indices ended lower for the third consecutive session on April 13 with Nifty below 17,500.

At Close, the Sensex was down 237.44 points or 0.41% at 58,338.93, and the Nifty was down 54.60 points or 0.31% at 17,475.70. About 1811 shares have advanced, 1494 shares declined, and 136 shares are unchanged.

Maruti Suzuki, HDFC, HDFC Bank, Tata Motors and Dr Reddy’s Labs were among the top Nifty losers. However, ONGC, Apollo Hospitals, ITC, Sun Pharma and UPL were the top gainers.

Except realty, auto and bank, all other sectoral indices ended in the green with FMCG, capital goods, metal and oil & gas indices rose 0.5 percent each. BSE midcap index fel 0.2 percent and smallcap index added 0.27 percent.

April 13, 2022 / 03:21 PM IST

Duroply Industries locked in 10% upper circuit

Duroply Industries shares were locked in 10 percent upper circuit after ace investor Porinju Veliyath & his wife Litty Thomas increased their shareholding in the company.

Ace investor Porinju Veliyath & his wife Litty Thomas have bought 7,000 equity shares in the plywoods company which has nearly Rs 86 crore of market capitalisation, via open market transactions on April 12.

With this, their shareholding in the company stands increased to 5.61 percent, up from 5.5 percent earlier.

April 13, 2022 / 03:16 PM IST

CLSA view on Ambuja CementsThe capacity expansion, cost savings and sustainability are the key for Ambuja Cements.The annual report focusses on two key themes, growth & sustainability. The company is planning expanding capacity to 40 mt by CY25 & eventually to 50 mt.The standalone FCF fell YoY on rise in working capital, while return ratios picked up on better margin.Post recent outperformance, the execution on growth projects is a key, said CLSA.

CLSA view on Ambuja Cements     The capacity expansion, cost savings and sustainability are the key for Ambuja Cements.    The annual report focusses on two key themes, growth & sustainability. The company is planning expanding capacity to 40 mt by CY25 & eventually to 50 mt.    The standalone FCF fell YoY on rise in working capital, while return ratios picked up on better margin.    Post recent outperformance, the execution on growth projects is a key, said CLSA.

April 13, 2022 / 03:11 PM IST

BSE Smallcap index rose 0.5 percent led by the Apollo Pipes, Reliance Industrial Infrastructure, Gandhi Special Tubes

BSE Smallcap index rose 0.5 percent led by the Apollo Pipes, Reliance Industrial Infrastructure, Gandhi Special Tubes

April 13, 2022 / 03:08 PM IST

CLSA view on Jubilant FoodWorks

CLSA has maintained sell call on Jubilant FoodWorks with a target at Rs 2,500 per share.

See rising competition in the pizza space for Jubilant’s core Domino’s chain as several brands are mushrooming on aggressive promotion & 3rd party delivery.

It is difficult for the company to protect margin & market share at the same time, CLSA added

Jubilant FoodWorks was quoting at Rs 2,782.10, up Rs 4.85, or 0.17 percent on the BSE.

April 13, 2022 / 03:04 PM IST

Today’s Stock Market Action

Today’s Stock Market Action

April 13, 2022 / 03:01 PM IST

Market at 3 PM

Indian benchmark indices were trading lower in the final hour of trading with Nifty hovering around 17500.

The Sensex was down 178.49 points or 0.30% at 58397.88, and the Nifty was down 37.50 points or 0.21% at 17492.80. About 1835 shares have advanced, 1361 shares declined, and 102 shares are unchanged.