Share Market HIGHLIGHTS: Sensex, Nifty extend losses to 2nd day dragged by RIL, ICICI Bank; Infosys flat after worst day in three years
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex extended losses to a second straight day on Tuesday amid mixed moves across global markets. The volatile session on April 18 came about a day after selling pressure in heavyweights such as Infosys and HDFC Bank weighed on the headline indices as the Street reacted to the worse-than-expected Q4 results of the blue-chip companies.Investors on Dalal Street await more of corporate earnings reports from India Inc for cues as the Q4 results season gathers steam.
Here's a list of headlines that were in focus on Dalal Street:
- Is it a good time to add Infosys, HDFC Bank, Zomato, Bharti Airtel shares in your portfolio?
- A lukewarm debut for Avalon Tech, shares list near issue price as predicted by Anil Singhvi
- Tata Chemicals stock slips over 6% as firm reduces prices of soda ash
- Xiaomi 13 Ultra launch latest updates
Catch HIGHLIGHTS of all the action in the Indian share market on April 18, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex extended losses to a second straight day on Tuesday amid mixed moves across global markets. The volatile session on April 18 came about a day after selling pressure in heavyweights such as Infosys and HDFC Bank weighed on the headline indices as the Street reacted to the worse-than-expected Q4 results of the blue-chip companies.Investors on Dalal Street await more of corporate earnings reports from India Inc for cues as the Q4 results season gathers steam.
Here's a list of headlines that were in focus on Dalal Street:
- Is it a good time to add Infosys, HDFC Bank, Zomato, Bharti Airtel shares in your portfolio?
- A lukewarm debut for Avalon Tech, shares list near issue price as predicted by Anil Singhvi
- Tata Chemicals stock slips over 6% as firm reduces prices of soda ash
- Xiaomi 13 Ultra launch latest updates
Catch HIGHLIGHTS of all the action in the Indian share market on April 18, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Share Market Today | Nifty 50 ends volatile day below 17,700, Sensex drops 184 pts as headline indices extend losses to second straight day
Both headline indices finish the day 0.3 per cent lower. The Nifty 50 loses 46.7 points to settle at 17,660.2, having broadly moved within the 17,600-17,800 band during the session. The Sensex sheds 183.7 points for the day to close at 59,727, after gyrating in a range of more than 500 points around the flatline in intraday trade.
Here's how the indices moved through the day:
Nifty 50
Sensex
Rekha Jhunjhunwala takes fresh position in this multibagger stock
Rekha Jhunjhunwala — the wife of late legendary investor Rakesh Jhunjhunwala — has picked a stake in a small-cap stock in the January-March period.
Hint: It is a multibagger stock that already features in the portfolios of eminent investors Ashish Kacholia and Mukul Mahavir Agrawal.
Read more on the news of Rekha Jhunjhunwala picking stake in this multibagger stock
Reliance Q4 Results Preview: Revenue likely to slip to Rs 2,16,700 crore, margin pegged at 16.5%
Reliance Industries Ltd (RIL) is all set to report its financial results for the January-March 2023 period on Friday, April 21. According to Zee Business research, the oil-to-telecom conglomerate is estimated to report a 0.2 per cent decline in its consolidated revenue to Rs 2,16,700 crore for the quarter compared with its revenue for the three months to December 2022.
Read more on what to expect in RIL Q4 results
NO PLAN TO RAISE TAXES ON LONG-TERM CAPITAL GAINS: FINANCE MINISTRY SOURCES
The news comes amid reports of likely changes in rules on taxes applicable to long-term capital gains.
Share Market Today LIVE | Crisil shares fall after rating agency announces Q4 results, announces dividend
Crisil shares slip into the red after the credit ratings agency announces its financial results for the quarter ended March 2023. The stock drops as much as 4.2 per cent to Rs 3,381.3 apiece on BSE.
Image: BSE
Share Market Tips LIVE | Buy Shree Digvijay, Gokaldas Exports shares, says Vikas Sethi
In conversation with Zee Business Managing Editor Anil Singhvi, Vikas Sethi of Sethi Finmart shares two stock recommendations:
- Buy Shree Digvijay for a target of Rs 75 with a stop loss at Rs 63; the stock is an attractive buy in the cement space given its strong fundamentals and favourable valuation
- Buy Gokaldas Exports for a target of Rs 385 with a stop loss at Rs 355; after the recent fall, the stock is poised to bounce back to higher levels
Global Market LIVE | European shares start day in the green ahead of key US bank results; better-than-expected China GDP data boosts sentiment
European markets begin the day in the green as investors await more of US bank results to gauge the health of the sector, amid positive signals from China where a better-than-expected GDP reading sent positive signals to global equity sentiment. The pan-European Stoxx 600 index is up 1.1 per cent within the first few minutes of trade.
Here's where some of the key indices in the region stand:
- UK's FTSE 100: up 0.2 per cent
- France's CAC: up 0.4 per cent
- Germany's DAX: up 0.2 per cent
Global Market LIVE | Dow Jones, S&P 500, Nasdaq Composite futures rise, suggest a positive start ahead in US stock market today
Here's what the futures contracts of the three main Wall Street indices — the blue-chip gauges Dow Jones Industrial Average and the S&P 500, and the megacap stocks-heavy Nasdaq Composite — suggest at this hour:
- Dow Jones futures: up 49 points or 0.1 per cent at 34,178
- S&P 500 futures: up nine points or 0.2 per cent at 4,185.8
- Nasdaq Composite: up 53 points or 0.4 per cent at 13,239.5
Nifty LIVE | Divi's Labs, Cipla, HCL Tech rise most among 20 gainers in headline index
Top Nifty gainers
| Stock | CMP | Change (%) |
| Divi's Labs (DIVISLAB) | 3,271.2 | 3.4 |
| CIPLA | 923.3 | 1.9 |
| HCL Technologies (HCLTECH) | 1,059.9 | 1.7 |
| Nestle India (NESTLEIND) | 20,583 | 1.7 |
| IndusInd Bank (INDUSINDBK) | 1,140.9 | 1.5 |
Top Nifty laggards
| Stock | CMP | Change (%) |
| POWERGRID | 230 | -2.8 |
| UltraTech Cement (ULTRACEMCO) | 7,585.3 | -2 |
| Adani Enterprises (ADANIENT) | 1,843 | -1.9 |
| RELIANCE | 2,333.4 | -1.4 |
| Bajaj Auto (BAJAJ-AUTO) | 4,198.3 | -1.3 |
Share Market Tips LIVE | Buy Pidilite shares, says Sneha Seth
Sneha Seth of Angel One suggests buying Pidilite Industries shares for a target price of Rs 2,518 with a stop loss at Rs 2,353.
Share Market Tips LIVE | Buy SBI Card futures, targets Rs 800, Rs 830, says Shilpa Rout
Shilpa Rout of Prabhudas Lilladher recommends buying SBI Card futures as a positional pick. She suggests chasing targets to the tune of Rs 800 and Rs 830 with a stop loss at Rs 750.
Share Market Today LIVE | Tata Chemicals shares near day's low after company reduces soda ash rates
Tata Chemicals (TATACHEM) shares are down by Rs 61.8 or 6.2 per cent at Rs 930.3 apiece on BSE, having dropped 6.6 per cent to hit Rs 926.3 apiece at the weakest level of the day so far.
Weakness in the stock follows the Tata group company's announcement of a reduction in its prices of light and dense soda ash by up to four per cent with effect from April 17.
Soda ash or sodium carbonate is a key component used in the manufacturing of products such as powdered detergents and soaps, glass, glass containers, and fibreglass insulation.
Share Market Today LIVE | ITC, Sobha, Ircon, Punjab & Sind Bank, Bajaj Holdings rise most among 310-odd gainers in BSE 500 universe
On the other hand, Tata Chemicals, Brightcom Group and Anupam Rasayan India are the top laggards in the broadest index on the bourse.
Image: BSE
Share Market Tips LIVE | Hemang Jani recommends Raymond as long-term pick
Hemang Jani of Motilal Oswal Financial Services suggests going long on Raymond shares.
He has placed his target as high as Rs 1,590 with a perspective of 9-12 months — implying upside potential of 14.8 per cent from Monday's closing price.