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Share Market LIVE: Sensex sits in red, Nifty below 14,600; Reliance Industries, Bank stocks among top drags – The Financial Express

India VIX was inching higher on Monday. (Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets began the day’s trade in the negative territory. S&P BSE Sensex was down 700 points on the opening bell, threatening to give up 48,000 mark. The 50-stock NSE Nifty index was below 14,500 on opening. However, minutes into the trade, both the indices were trimming their losses. Titan, State Bank of India, and HDFC twins were the top drags on Sensex. IndusInd Bank, Bajaj Auto, and M&M were the top gainers. Reliance Industries share price was also in the red. India VIX breached 24 levels.PowerGrid Infrastructure Investment Trust (InvIT) has so far seen investors subscribe to 60% of the issue, as it now enters the final day of bidding. The first state-sponsored InvIT is looking to raise Rs 7,734 crore through an initial public offering (IPO) of its units. Institutional investors have subscribed 38% of the issue portion reserved for them. Meanwhile, other investors have bid for 88% of the portion reserved for them. 42.54 crore units of PowerGrid InvIT are on offer. Investors can bid for the issue in a bid for the issue in the price band of Rs 99-100 per unit. The minimum bid lot size stands at 1,100 units, translating to a minimum investment of Rs 1.1 lakh.

Nifty regained 14,600 and turned positive for the day with less than an hour to go before the closing bell. 

Ahead of the closing bell, Sensex and Nifty were trading flat with a negative bias. The benchmark indices had been trimming opening losses throughout the entire trading session.

Some of the best performing exchange-traded funds (ETF) available on the US stock exchanges have gone up by more than 25 per cent in the first three months of the year. While investing in individual stocks still remains the best bet, the ETF’s provide investors with a long-term asset allocation plan. Owning the US stocks via ETFs will give you exposure to various index stocks thus bringing diversification to the portfolio.

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IT major Capgemini on Monday committed Rs 50 crore to augment medical infrastructure in India to tackle the COVID-19 crisis. In addition, Capgemini is also contributing Rs 5 crore to UNICEF to provide immediate support across India for critical COVID-19 response care, by setting up three oxygen generation plants and RT-PCR testing machines to augment the government’s efforts to fight against the pandemic.

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Chemplast Sanmar, which was delisted nearly a decade ago, filed a Draft Red Herring Prospectus (DRHP) with the capital markets regulator SEBI to raise Rs 3,500 crore via IPO. The public issue will comprise a fresh issue of Rs 1,500 crore and an offer-for-sale (OFS) of Rs 2,000 crore by the existing promoters and shareholders. Chemplast Sanmar is a part of Chennai-based industrial conglomerate Sanmar Group, and is backed by Canadian billionaire Prem Watsa. 

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Bank Nifty was down 2.2% on Monday afternoon, extending losses. All major bank stocks were trading with losses.

Ace investor Warren Buffett admitted that selling shares of Apple was probably a mistake on his part. The billionaire investors said that he sold shares of the iPhone manufacturer despite the fact that Berkshire Hathaway Vice Chairman, Charlie Munger was against the idea. “I sold some stock last year, although our shareholders still had their percentage interest go up because we repurchase shares. But that was probably a mistake,” Warren Buffett said during the annual shareholder meeting of Berkshire Hathaway earlier this month.

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Total profit after tax for the financial year ended March 31, 2021 increased 107% on-year basis to Rs 160.06 crore. CDSL’s total Income for the previous fiscal year increased by 48% to Rs 312.35 crore from Rs 211.39 crore in the previous year.

The Nifty bank index is down 1.58% on Monday. Along with it, Nifty PSU Bank index and the private bank index were also down. Nifty 50 traded 0.5% lower. 

Even though the Q4FY21 results of Reliance Industries were excellent on a Y-o-Y basis, it was below lofty street estimates & a surging pandemic has led to a mild drop in stock prices. Technically, however, long-term investors can look to buy near 1,920-1,930 levels for higher targets. Rs 2,045 remains a stiff resistance. AR Ramachandran, Co-founder & Trainer, Tips2Trades

Globally, economic data showed US economy grew at a 6.4% annualized rate last quarter, with an upbeat personal income and weekly jobless claims dropped to an over year low reflecting the continued economic recovery. This has led to push in U.S Treasury yields above the 1.6% mark indicating potential inflation pressures and increased talk of a possible pullback from central bank overall supporting the dollar strength. On domestic front, Nifty showed a gap down opening with TMC conquering West Bengal while BJP has retained Assam and Pondicherry. With over 4 lakh cases reported in a single day, investors fear the possibility of a nationwide lockdown and that would lead to flight of capital back to the US. However, the pace of vaccination drive that has now opened for all adults could provide some support to rupee. Overall with global sentiments remaining on cautious mode, the near term support for the pair remains at 73.70-73.80 levels and 75.00-75.20 remains a strong resistance, keeping the pair consolidated between 73.70-75.20 levels for coming days. Amit Pabari, managing director, CR Forex Advisors

Nifty 50 may be again headed towards its lifetime high of 15,430 in the coming months, having held a key support level during the last few weeks’ correction, ICICI Direct said in a recent note. The benchmark NSE index was in the correction for the last few weeks but managed to hold above 14,200 during the period. The key support levels were respected despite the fear of revised lockdowns and the second wave of coronavirus. Earlier, Nifty made all-time high in the middle of February this year during the post-budget rally and since then has been moving range-bound with a negative bias.

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Sensex is now down only 200 points while the Nifty 50 index was moving closer to the 14,600 mark.

RIL share price fell as much as 2.5 per cent to Rs 1,943.70 apiece in the morning deals on Monday, after the Mukesh Ambani-led firm posted a net profit of Rs 13,227 crore in Jan-Mar quarter, which missed the estimates. Reliance Industries Ltd stock price is down 18 per cent from its record high of Rs 2,368.80 apiece, touched on September 16, 2020. Analysts are mixed on RIL stock post fourth quarter earnings with some maintaining ‘buy’ rating and others ‘hold’. During FY21, Reliance Industries completed fundraising from selling minority stakes in Jio Platforms Ltd and Reliance Retail Ventures (RRVL) to global investors. It raised Rs 1.52 lakh crore in Jio and Rs 47,265 crore in retail.

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“Upon opening, the markets have taken support at 14400. What needs to be seen is how we fare during the day and if we are successful in closing above the 14400 level as that is a key support for the current trend. If we breach that, there might be a cause of concern. On the upside, we still have reasons to target 15000-15100 as a potential target for the Nifty,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

The smallcap indices were seen surging higher on the National Stock Exchange on Monday morning. The Nifty Smallcap 100 index was up 0.35% and the Smallcap 250 index was up 0.75%. Meanwhile, the Nifty was down 0.56%.

“The election results can be seen as a setback to the ruling party since it fell short of its expectations. But it is unlikely to influence the markets in any way. The market will be swayed by the crucial Covid and economic data. While the news regarding infections, deaths,   non-availability of hospital beds & oxygen continue to be grim, there is hope in the declining trend of infections in Maharashtra, particularly Mumbai, and Delhi. If this trend continues perhaps we have left the peak of the second wave behind. GST collections in April at Rs 1.41 lakh crores is very good news indeed. This indicates a strong rebound in the economy and maturing of the GST system. The sharp decline in the market last Friday was caused by fears of another lockdown. The huge FII sell figure of Rs 3465 cr is negative. If the FIIs continue to sell heavily, that will negatively impact the market,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 

After initial few minutes of trade, Sensex was seen trimming its losses marginally. The index was now down 500 points, while Nifty 50 was seen nearing 14,500.

Share price of Amara Raja Batteries tanked 5% on Monday morning as investors prices in the closure of plants of the company in Chitoor district of Andhra Pradesh. The company will have to shut two plants. 

Sensex plunged more than 700 points on the opening bell as the index neared 48,000 mark. Nifty was below 14,500. on Sensex, SBI, Titan, and RIL were the worst performers.

MCX Gold finished April month with 4% positive returns but still it’s down by approx. 6% year to date. The dollar index fell by nearly 2% in the last month. Still Comex gold is struggling to cross $1,800 on a higher side. US Treasury Secretary Janet Yellen on Sunday tamped down concerns that President Joe Biden’s plans for infrastructure, jobs and families will cause inflation, saying the spending will be phased in over a decade. Physical gold in India was sold at a discount last week for the first time in 2021 as a spike in coronavirus cases prompted strict restrictions and kept buyers away. Holding at the SPDR Gold ETF fell from 1,037 tonnes as on 30th March to 1,017 tonnes as on 30th April. Still, we expect the yellow metal to stay positive during the intraday. Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers

Indian Indices are expected to open lower on Monday due to BJP’s loss in some key states elections combined with rapidly rising Covid 19 cases in the country. Global cues are also weak as the U.S. and some of the European markets also closed in red on Friday and most of the Asian markets including Hang Seng, Shanghai Composite, Nikkei are also trading with losses. 14,200 might act as an immediate support in the market. Any substantial fall can be considered for entry in good quality scripts. Mohit Nigam, Head — PMS, Hem Securities

Commodity prices traded mixed during the week passed by with Bullion prices witnessed a decline for the second week with risk on sentiments. Base metals continued to trade higher with Nickel rallying the most followed by Copper and Lead on a strong demand outlook. Crude oil prices traded higher on demand, growth prospectus.

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Sensex was down more than 200 points during the pre-open session on Monday morning. Nifty too was trading with losses, sitting below 14,600 levels.

A total of 21 BSE-listed companies including Apollo Tricoat, Godrej Properties, IDBI Bank, Kotak Mahindra Bank, SBI Life Insurance, L&T Technology Services, Tata Chemicals, and Varun Beverages, will announce their January-March quarter earnings on May 3.

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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel have now remained the same for eighteen consecutive days. Fuel prices were last cut on April 15. Today, the Petrol price in Delhi is Rs 90.40 per litre, while Diesel prices were at Rs 80.73 per litre. Fuel prices remain the highest in Mumbai at Rs 96.83 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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Markets are keeping a very close watch on the ongoing health crisis w.r.t second wave of covid across all the states in the country. One of the biggest concerns for the market is the increasing state wise lockdowns, however, compared to last year, markets have been more resilient mainly due to fastening of vaccination drives across the country & the government’s impetus on revamping the medical infrastructure and coping up with ongoing challenges at war footing.

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“We expect volatility to remain high in the coming week too. First, participants will react to the Reliance Industries results which came in after market hours on Friday. Besides, monthly auto sales numbers will also start pouring in from May 1. In the following session, the election results of the 5 states will also be the focus on May 2. On the economy front, Markit Manufacturing PMI and Markit Services PMI data are scheduled on May 3 and May 5 respectively. Needless to say, updates related to COVID cases, vaccine drive and global cues will also be closely tracked,” said Ajit Mishra, VP Research. Religare Broking.

Nifty futures on Singapore Exchange are down more than 170 points on Monday morning. Earlier in the day SGX Nifty was down nearly 200 points.

With the IT services pack turning in a good set of numbers and a rebound by consumer-oriented companies after the lockdowns of 2020, India Inc has put up a good show in the March quarter.

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The rejuvenation of upward momentum backed by improving market breadth makes us confident to believe the index would maintain the rhythm of price and time wise maturity of correction and eventually retest life-time high of 15400 in the month of May 2021. In the process, we expect index to hold the key support threshold of 14200. Therefore, any cool off towards 14600-14500 range would attract elevated buying demand.

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