Stock Market LIVE: Sensex, Nifty trade at record highs! Nifty above 22,600, Sensex near 72,600; Realty and Energy stocks leads the gain – Market News

Following the blockbuster subscription of  Bharti Hexacom’s mega IPO to kick off the fiscal year, the primary market is poised for a quiet spell this week, with no new mainboard IPOs on the horizon. However, activity remains vibrant in the SME segment as three companies prepare to introduce their issues.

Stocks To Watch: Wipro, Vodafone Idea, ZEE, Titan, Adani Wilmar, Nestle India, PSU Banks

Will Nifty hit a new high above 22,600 or consolidate ahead? See GIFT Nifty, FII data, F&O ban, crude, more before market opens

Four of top 10 valued firms add Rs 1.71 lakh cr to mcap; HDFC Bank, LIC lead gainers

Bajaj Housing Finance board to meet on Apr 24 to discuss listing

In addition to Bharti Hexacom, five other SME firms, which initiated their offerings in the preceding week, are set to witness their shares hitting the exchanges.

Read More: Bharti Hexacom to Yash Optics – Here are the 6 new listings this week

Courtesy: NSE

Courtesy: NSE

Shares of Voltas jumped 10% to hit the upper band of Rs 1,355.50 after the company’s air conditioner sales crossed the mark of two million units in FY24. The company saw an increase of 35% in its sales. The stock hit a 52-week high on April 08.

Commenting on the Technical outlook of Nifty Rupak De, Senior Technical Analyst, LKP Securities, said The index has remained sideways throughout the session, reflecting a pause in the market trend following the formation of a hanging man pattern. The sentiment may continue to remain sideways due to the lack of a directional breakout or pattern formation. At the higher end, 22650 might prove to be a crucial resistance level. A fresh rally is not anticipated as long as the index remains below 22650. On the lower end, support is evident at 22300; if breached, the index might decline towards the 22000-21900 range.

BPCL, Tata Steel, Axis Bank, Titan Company, and Shriram Finance are the top gainers on NSE Nifty 50 whereas top laggards include Adani Ports and SEZ, Apollo Hospitals, Divis Labs, Wipro, and ICICI Bank.

Commenting on the pre opening trade said, Optimism prevails on Dalal Street as investors prioritize the anticipation of strong Q4 corporate profits in India over the Fed’s rate-cut plans. TCS‘s upcoming Q4 earning season kickoff on April 12th is pivotal, with Nifty holding steady at the 22121 mark. Geopolitical tensions push oil prices to $87 a barrel, while inflation takes the spotlight with the March US CPI release. Nifty faces resistance at 22619, supported by a Put-Call Open Interest Ratio of 1.17. FIIs bought Rs. 1659 crores, contrasting DIIs’ sales of Rs. 3370 crores.

Tapse also added that, Nifty’s options data suggests a 21500-22700 trading range, with 22700 emerging as a key resistance and 22000 as primary support. India VIX recedes to 11.22 levels, signalling reduced volatility. Recommended trades include buying Nifty and Bank Nifty, with EICHER MOTORS (CMP 4031) presenting a compelling buy opportunity with a stop at 3823 and targets at 4101/4201, driven by momentum play. Bullish sentiment persists on stocks like EICHER MOTORS, CANARA BANK, IPCA LAB, and M&M, encouraging buying on corrective declines.

The NSE has added Bandhan Bank, Hindustan Copper, Sail, and Zee Entertainment Enterprise in F&O on April 8, 2024.

Foreign institutional investors (FII) bought shares worth net Rs 1659.3 crore, while domestic institutional investors (DII) offloaded shares worth net Rs 3,370.4 crore on April 5, 2024, according to the provisional data available on the NSE.

On Monday morning, shares across the Asia-Pacific region are experiencing mixed trading. The Asia Dow is showing a modest increase of 0.26%. Japan’s Nikkei 225 is in positive territory, rising by 1.12%, while Hong Kong’s Hang Seng index is slightly down by 0.01%. Meanwhile, the benchmark Chinese index Shanghai Composite concluded the session with a decrease of 0.18%.

On Monday morning, WTI crude prices are at $85.53, marking a decline of 1.57%, whereas Brent crude prices stand at $89.76, showing a decrease of 1.55%.

The US Dollar Index (DXY), gauging the dollar’s strength against six major foreign currencies, saw a marginal increase of 0.05%, reaching 104.41.

According to Bloomberg, the US stock market is concluding the week positively following a robust jobs report, suggesting that the US economy will continue to drive Corporate America forward, potentially leading to sustained interest rates. The tech-focused Nasdaq Composite surged by 200.09 points or 1.25%, closing at 16,249.17. Similarly, the S&P 500 rose by 59.73 points or 1.16%, reaching 5,206.94, while the Dow Jones Industrial Average saw an increase of 314.06 points or 0.81%, ending at 39,911.04.