Stock Market LIVE: Sensex, Nifty trade near all time high! Nifty above 22,500, Sensex gains over 400 points; Media and Realty stocks leads the gain – Market News

On Monday, April 1, shares of Hindustan Aeronautics Ltd (HAL) surged by almost 4% to reach a new 52-week high of Rs 3,454.35 each on the BSE. This rise came after the company disclosed that it achieved its highest-ever revenue from operations, surpassing ₹29,810 crore for the fiscal year 2024 (FY24).

The shares of NTPC jumps over 2% to the intra-day high of Rs 342.95 on the following new that On Monday, state-owned power giant NTPC announced a significant surge in coal despatch, recording a 55% growth, and nearly 50% expansion in output from its mines during the fiscal year 2023-24 compared to the previous year.

Stocks To Watch: HDFC Bank, Infosys, IOCL, RVNL, Asian Paints, JM Financial, Adani Total Gas, Pharma Stocks

Will Nifty hit a new high above 22,500 in the first trading session of FY25? See GIFT Nifty, FII data, F&O ban, crude, more before market opens

Lock-in of shares worth Rs 1.5 trillion set to expire

Foreign portfolio investors pump in Rs 2 trillion in FY24

According to the company’s statement, it dispatched 34.15 million metric tons (MMT) of coal, while coal production reached 34.38 MMT by the end of March 31, 2024.

NTPC Ltd reported substantial growth of 55% in coal despatch from its captive mines during FY24, compared to the preceding year.

FY24 proved to be a very special year for IPOs and the primary market with over 75 new issues, marking the highest count in two years. Propelled by strong demand for equities, particularly from an increasing number of domestic investors, this upsurge set the stage for hectic activity across the primary market.

Equity fundraising through IPOs saw a notable surge of 20% in FY24, with a total of 75 firms raising Rs 61,915 crore through main board IPOs during this period. This marked a significant increase from the Rs 52,116 crore raised by 37 IPOs in FY23.

Several highly anticipated IPOs, such as Tata Technologies, IREDA, JSW Infra and Cello World, Mankind Pharma among others, made their eagerly awaited debut. These IPOs garnered substantial subscriptions and recorded sterling gains on listing day, reflecting investor confidence in the offerings.

Read More: IPOs in FY24 help raise over Rs 61,900 crore: Fundraising up 20%, highest in two years

As the financial year 2024 (FY24) draws to a close, it is time to take stock .The Indian stock market had a rather belter of a year. New highs, records, blockbuster listings- you name it and the markets delivered this financial year.

The Nifty50 spiked up an impressive 28.6%, while the Sensex jumped 24.8% in FY24, outperforming most major market indices globally.

The Nifty, representing the top 50 blue-chip companies across various sectors, hit multiple record highs throughout FY24. Notably, it surpassed the 19,000-point mark in June, and further milestones were hit with the Index breaching 20,000 and 21,000 levels in September and December respectively.

Read Full Here: Stock Market surges 30% in FY24: New highs, fresh records and massive gains- All details from Dalal Street this fiscal

Commenting on the bullion market outlook Rahul Kalantri, VP Commodities, Mehta Equities said that, Gold and silver gained last week amid easing inflation concerns in the U.S. and curb in geo-political tensions. The U.S. core PCE price index showed a growth of 0.3% in February month as per expectations and well below from the previous month’s growth of 0.5%. Personal spending surged by 0.8% against 0.2% in the previous month which supported gold and silver prices. The U.S. proposal for Gaza ceasefire in the UNSC last week and reducing tensions in the Middle-East are also supporting safe-haven demand for precious metals. However, strength in the dollar index and record weakness in the Japanese Yen have been limiting gains of precious metals.

Kalantri also added that We expect gold and silver prices to remain volatile this week ahead of the U.S. job data and Fed Chairman’s speech. Gold has support at $2240-2224 while resistance is at $2268-2280. Silver has support at $24.90-24.72 while resistance is at $25.28-25.42. In INR terms, gold has support at Rs67,740-67,440, while resistance is at Rs 68,380, 68,620. Silver has support at Rs74,840-74,080, and resistance at Rs75,840, 76,580.

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, remarked, “Following a period of bullish resurgence, the Bank Nifty index demonstrated strength by surpassing the 20-day moving average barrier set at 47,000, supported by substantial volumes. Despite this momentum, it encountered resistance near the 47,500 level. A clear breach above this resistance could potentially drive the index towards the 48,000 mark. Conversely, immediate support is observed within the 47,000-46,800 range. A definitive decline below this support level, particularly on a closing basis, may indicate a false breakout scenario.”

Commenting on the technical outlook of the Nifty, Rupak De, Senior Technical Analyst at LKP Securities, noted a significant rally pushing the index beyond the 22,500 mark after maintaining momentum above 22,100. He highlighted a clear breakout in consolidation on the daily timeframe, signaling increasing optimism. Despite this, the Nifty encountered initial resistance near its previous swing high of 22,526. De emphasized the need for the index to decisively surpass the 22,525 level to sustain the rally, with 22,200 potentially serving as short-term support on the downside.

Hindalo, JSW Steel, Bajaj Finserv, HDFC Bank, and Apollo Hospitals are the top gainers on NSE Nifty 50 whereas top laggards include Bharti Airtel, IndusInd Bank and HDFC Life Insurance.

Commenting on Today’s Market outlook Markets Prashanth Tapse, Senior VP (Research), Mehta Equities said that, Markets are seen edging higher in early Monday trades on the back of a firm trend in the Gift Nifty index and optimism in other Asian indices. Investors are likely to resort to bargain hunting, and the recent reiteration by the US Fed that it is still looking at 3 rate cuts this year despite challenges from the inflation front is expected to keep the markets in good stead.

Tapse also adds that, While intra-day volatility could continue in the near term, the focus will slowly shift to fourth quarter corporate earnings which will start rolling in the next few day’s time. The Nifty options data suggests that the benchmark index is likely to be in a trading range of 21500-22600 zone. Our chart of the day suggests stocks like Adani Enterprises, Adani Port and Eicher Motors are expected to witness bullish trend with an interweek perspective.

The NSE has added Zee Entertainment in F&O on April 1, 2024.

Foreign institutional investors (FII) mopped shares worth net Rs 188.31 crore, while domestic institutional investors (DII) bought shares worth net Rs 2,691.52 crore on March 28, 2024, according to the provisional data available on the NSE.

On Monday morning, shares across the Asia-Pacific region are generally trading positively. The Asia Dow is experiencing a slight decline of 0.81%, while Japan’s Nikkei 225 is in negative territory, down by 1.17%. Conversely, Hong Kong’s Hang Seng index has risen by 0.91%, and the benchmark Chinese index, the Shanghai Composite, is up by 0.60%.

On Monday morning, WTI crude prices are currently at $83.14, showing a marginal increase of 0.02%, whereas Brent crude prices stand at $86.82, indicating a slight decline of 0.18%.

The US Dollar Index (DXY), which gauges the dollar’s worth against a selection of six foreign currencies, experienced a slight decrease of 0.05%, settling at 104.43.

The final quarter for U.S. stocks is wrapping up cautiously, with traders preparing for crucial inflation data following recent statements from the Federal Reserve suggesting a reluctance to reduce interest rates. According to Bloomberg, the Nasdaq Composite, dominated by tech stocks, closed down 20.06 points or 0.12% at 16,379.46. Meanwhile, the S&P 500 saw a modest gain of 5.86 points or 0.11% to reach 5,254.35, and the Dow Jones Industrial Average closed higher by a mere 47.29 points or 0.12% at 39,807.37.