Banks in India will remain closed for over 10 days in April 2021, including weekends and festivals. In the first four days of April, banks will remain shut for three days due to the closing of accounts on April 1, Good Friday on April 2, and Sunday on April 4. Apart from these 10 holidays, there are five more state-specific and region-specific holidays. It may be noted that only gazetted holidays are observed by banks all over the country.
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Investors should consider booking profit on Nazara Technologies. At an issue price of Rs.1101 per share, the company commands a valuation of 12.80 times EV/Sales based on FY 20 sales. The listing gains in Nazara Technologies are pretty good and one needs to consider booking gains keeping in mind the overall sentiments of the primary markets and stretched valuations due to strong listing.: Saurabh Joshi- Research Analyst at Marwadi Shares and Finance Ltd
NSE Nifty 50 has fallen significantly from its all-time high of 15,431 in the month of March. However, the index did not break its 50 days EMA, which has acted as strong support since May last year. Domestic brokerage firm ICICI Direct believes the healthy retracement from February highs now gives investors a fresh entry point, expecting the index to scale back to all-time highs in the coming months. “We expect the index to hold the strong support of 14,400 and gradually retest lifetime highs of 15,430 in coming months,” ICICI Direct said in a report.
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MCX Gold June contract began the holiday-shortened week on the lower side. The weakness in the yellow metal was quite visible via the trend in ETFs. The holding in the SPDR Gold ETF fell to 1,037.5 tonnes as of 29th March from 1,051.78 tonnes as of 19th March. The holding at the biggest gold-backed exchange-traded fund has fallen by 150 tonnes from a year high of 1,187.95 tonnes as of 4th January 2021. The 10-year bond yield has appreciated to 1.7419%. We expect the sentiment to remain bearish only.: Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers
The Nifty is currently trading around a resistance patch which is 14700-14800. We need to get past these levels on a closing basis so that we can summarize that the short term downtrend is over for the time being. If we can keep above this level, we could be headed higher to 15200-15300. If we collapse from the current levels and break 14500 on a closing basis, there is every possibility we go down to retest the recent lows.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Nazara Technologies shares made a strong debut on the stock exchanges on Tuesday. Rakesh Jhunjhunwala backed- Nazara Technologies stock began trading at Rs 1,971 per share, up Rs 870 or 79.02 per cent from the IPO price of Rs 1,101 per share. The debutant stock had a market capitalization of Rs 6,002.25 crore on listing. The Rs 583-crore IPO of Nazara Technologies was subscribed 176 times by investors.
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All the Nifty sectoral indices were trading in the green, with Nifty Metal index up 2.68 per cent. Nifty FMCG index was up 1.42 per cent and Nifty Pharma index 1.84 per cent.
Shares of Mahindra & Mahindra (M&M), Maruti Suzuki India, Tata Consultancy Services (TCS) and Bajaj-Auto were trading in the red
Titan Company, Hindustan Unilever Ltd (HUL), Nestle India, ONGC, Dr Reddy’s Laboratories, NTPC, IndusInd Bank, Power Grid Corporation of India were among top Sensex gainers.
BSE Sensex was trading 395 points or 0.81 per cent higher at 49,403, while the broader Nifty 50 was ruling at 14,632, up 125 points or 0.86 per cent on Tuesday.
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BSE Sensex was trading 400 points higher, while the broader Nifty 50 was ruling near 14,700 in the pre-opening session on Tuesday.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel fell after the same for five consecutive days. The price of petrol and diesel fell across major cities. Nation Capital Delhi was quoting a petrol price of Rs 90.56 per litre, down 22 paise from yesterday while Diesel in the city was priced at Rs 80.87 per litre, down 23 paise from yesterday. Fuel prices remain the highest in Mumbai at Rs 96.98 per litre for Petrol. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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COMEX gold trades marginally lower near $1711/oz after a 1.2% decline yesterday. Gold trades weaker weighed down by sharp rise in US bond yields and firmness in US dollar amid increasing optimism about US economy. Also weighing on price is progress on vaccine front and recovery in Chinese equities and weaker investor interest. However, supporting price is rising virus cases and loose monetary policy stance of major central banks. Gold may remain under pressure amid stronger US dollar however a drop below $1700/oz seems less likely amid worsening virus situation.: Ravindra Rao, VP- Head Commodity Research at Kotak Securities
Nifty futures were trading 46.50 points or 0.32 per cent higher at 14,797 on Singaporean Exchange, suggesting a gap-up opening of BSE Sensex and NSE’s Nifty on Tuesday. Markets may remain volatile this week, with no major events. Investors would closely watch Brent crude oil movement, rupee trajectory and investment pattern of foreign institutional investors (FIIs). According to an analyst, markets should see some uptick from the first week of April.
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Commodity prices traded mixed during the week passed by with Bullion prices traded lower while crude oil futures witnessed volatile trading on Suez Canal blockage. Base metals witnessed mixed trade keeping the lower trading range on a stronger dollar and China demand.
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Equity markets braved all odds this fiscal and rewarded investors with high returns as the benchmark Sensex surged more than 66 per cent despite COVID-led disruptions and concerns over its impact on the economy. Market analysts termed FY 2020-21 as a roller coaster ride for not only Indian markets but also for equity indices globally due to the pandemic.
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Sensex and Nifty will today open for trade for the first time this week, looking to pick up from where they left off. S&P BSE Sensex now sits just above the 49,000 mark while the Nifty 50 index is just above 14,507. While analysts do expect some bounce back on stock markets after the sharp fall seen earlier this month, the holiday-shortened week is also expected to bring some volatility. India VIX, the volatility gauge, slumped 9% on Friday to close near 20 levels after having surged over 22 during the previous week. SGX Nifty was up 30 points, hinting at a positive start for equities.
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The outgoing financial year has been nothing short of a roller-coaster ride for Indian equities, which rebounded after the market crash late March 2020 on fears over the economic impact of the Covid-19 pandemic.
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Rakesh Jhunjhunwala-backed Nazara Technologies shares will list on stock markets on March 30, 2021, following the recently concluded IPO. The public issue of the mobile gaming leader was subscribed 176 times and was sold in the price range of Rs 1,100-1,101 per share. Ahead of shares listing on bourses, Nazara Technologies shares were seen quoting a strong grey market premium of Rs 690. The shares were ruling at Rs 1,791, up 62.67 per cent in the grey market over the issue price. The strong grey market premium doesn’t always ensure listing gains.
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