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Apr 12, 2023 4:11 PM

Stock Market Update | Geojit's Vinod Nair on market

"The domestic market exhibited cautiousness in anticipation of the release of various economic data and the upcoming Q4 earnings season. The IT sector drove the optimism in the market as investors await the earnings releases of sector majors. Despite expectations of a cooling down of CPI inflation to below the RBI's upper tolerance level, the persistence of sticky core inflation remains a concern," says Vinod Nair, Head of Research at Geojit Financial Services.

Apr 12, 2023 4:05 PM

Rupee Close | Rupee ends two paise higher at 8210 vs US dollar

The currency closed at 82.13 vs the dollar on Tuesday.

Apr 12, 2023 3:48 PM

Stock Market Updates | Abhiram Eleswarapu of BNP Paribas India on markets

“We have generally turned a bit more constructive. If you see year to date India has underperformed most global markets by 10-15 percent if not more in some cases. If you stretch that back to last September, compared to China we have underperformed quite significantly. So this period of both price and time correction has lasted quite a bit. Now when you compare this with where bond yields are for example then the scenario for equities has become slightly better. So if we take a 12-month view, our Nifty target is 19,250 which is a high single digit upside from current levels,” says Abhiram Eleswarapu, Hd-Equity, BNP Paribas India.

Apr 12, 2023 3:47 PM

Market at Close | Sensex, Nifty 50 end higher for 8 straight session

Pharma companies led the gains in the headline indices

Sensex rises 235 points to 60,392 and Nifty rises 90 points to 17,812

Nifty Bank gains 191 points to 41,557 and Midcap index 200 points to 30,824

Divis Labs posts best day in 18-months, up nine percent after analysts see exports improve in March

IndusInd recovers to end in green, company may miss out on MSCI index inclusion

Diagnostic, Pharma companies surge, DRL ends nearly three percent higher as COVID cases rise

Nestle ends as top Nifty loser after company announces interim dividend of Rs 27 per share

ITC snaps four-day gaining streak, down 0.5 percent

Max Health surges in last hour of trade after 1.85 percent equity changes hands via block

Sula ends more than nine percent higher on strong fourth quarter updates

TCS ends more than one percent higher ahead of earnings

Strong Q4 update lifts Puravankara, ends nearly three percent higher

Market breadth favours advances, advance-decline ratio at 1:1

BSE companies gain market cap of more than Rs 1 lakh crore

Apr 12, 2023 3:39 PM

Share Market News | Karnataka Bank gets nod for collection of direct & indirect taxes on behalf of CBDT and CBIC

CBIC implements new integration for Electronic Cash Ledger (ECL) with the functionality of collection of both tax and nontax receipts for CBIC on behalf of third-party applications through multiple modes of collections and Karnataka Bank is on-boarded for the same, the bank says in an exchange filing.

Apr 12, 2023 3:30 PM

Share Market Update | SMIFS's Sharad Avasthi on Bajaj twins

"Longer term horizon, the stocks could be good bets. The only thing is that after the rise that Bajaj has already seen not in terms of share price, but in terms of business volumes, I think Bajaj Finance becomes one of the largest NBFC's in the country now. Now with the mutual fund and how they transform things and everything that we need to see. But right now, what we think is that in terms of growth, it will be difficult for them to continue growing at that space. For both stocks I think for Bajaj Finserv, the fair value is around Rs 1,300-1,350 and for Bajaj Finance, I think, roughly Rs 5,800 is the fair value so I can't see much upside," says Sharad Avasthi, Head- PCG Research, SMIFS.

Apr 12, 2023 3:09 PM

Stock Market Update | Bank of India board meet on April 18 to consider Rs 6,500 crore fund raising

Bank of India's board will consider the issue of Basel-III compliant Tier-2 bonds worth no more than Rs 2,000 crore. (Read more)

Shares of Bank of India are trading 1.5 percent lower at Rs 75.60.

Apr 12, 2023 2:58 PM

Nifty 50 Update | TCS shares up 1% ahead of earnings

The shares of the Tata group major are trading a percent above their previous close. TCS will kickstart the March quarter earnings season, when it reports results later today.

While TCS may benefit from vendor consolidation, its high exposure to the BFSI segment will cloud that outlook. 31.5 percent of TCS' overall revenue comes from the BFSI space. (Here's what to expect)

Apr 12, 2023 2:41 PM

Market Update | IT shares rally ahead of TCS earning

The Nifty IT index is up 306.5 points or 1.1 percent. All 10 index stocks are trading in the green. Coforge, Infosys and Mphasis, up 1.4 to 1.6 percent, are top index gainers.

Apr 12, 2023 2:29 PM

Share Market Update | Shipping Corporation shares rebound from 52-week low

Shares of Shipping Corporation of India Ltd. are locked in a 5 percent upper circuit for the second day in a row after reports that the government is looking to list the demerged entity of state-owned ship liner, SCILAL, by the end of this month. (Read more)

Apr 12, 2023 2:09 PM

Nifty 50 Update | Top index contributors

HDFC Bank is contributing 24.3 points to the upside

Infosys is contributing 15 points to the upside

HDFC is contributing 12.8 points to the upside

ICICI Bank is contributing 9.8 points to the upside

Apr 12, 2023 1:59 PM

Market Update | Sensex advances 200 points, Nifty 50 surpasses March 6 high

Divi's Labs, Dr Reddy, Bajaj Auto are top Nifty 50 gainers

The India VIX, also known as the fear index, is up 3.3 percent at this hour.

Apr 12, 2023 1:55 PM

Nifty 50 Update | Index at 17,800, surpasses March 6 high

The Nifty 50 index is trading at 17,800.9, up 0.4 percent or 78.6 points from its previous close. The index is trading above March 6 high of 17,799. The US inflation data, India's consumer price index data and TCS quarterly earnings are the major triggers for the Indian market today.

Apr 12, 2023 1:33 PM

Global Market Cue | European markets in the green ahead of US inflation data

The British FTSE and French CAC opened in the red while German DAX opened higher, ahead of the US inflation data scheduled to be released later today. The indices ended higher for second session in a row on Tuesday.

Apr 12, 2023 1:16 PM

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