Nifty end over 1 percent higher as heavyweights shine
How well the EQSIS recommendations performed today 24 April?
1. EQSIS: EQSIS Intra: Long GODREJCP above 680.4 Target 686.7 Stop below 675.4 CMP 679.1
Status: Not Initiated
2. EQSIS: EQSIS Intra: Long TECHM above 814 Target 820.9 Stop below 808.5 CMP 813
Closing Bell: Nifty end over 1 percent higher as heavyweights shine
The broader NSE Nifty closed 1.30 percent higher at 11,726 on Wednesday. The benchmark NSE Nifty snapping a three-day losing streak, led by strength in index heavyweights Reliance Industries, HDFC duo, Infosys, ITC and ICICI Bank.
On NSE, sub-indices strong buying interest in banking, financial services, IT and media sectors in afternoon deals pushed the benchmark equity indexes higher. However, selling in auto stocks kept the upside in check.
Reliance Industries finished 1.88 percent higher, while Infosys ended up 1.13 percent.
Market Update: Nifty steady in late afternoon trade
The markets moved up steadily after a choppy beginning and a range-bound session with an upward bias. At 2 p.m., the 50-share NSE Nifty rose 0.53 per cent to 11,636. Most sectoral indices traded higher led by IT, which was up over 0.8 percent followed by media, and banking indices. Auto and metal indexes were in the negative territory.
Morning Update: Nifty trades above 11,600-mark; Advances in oil & gas and banking stocks
The broader NSE Nifty were trading marginally higher by 25 points to 11,603 with 50 of its constituents led by Oil and Natural Gas Corporation, Bharat Petroleum, Indian Oil Corporation, India Bulls Housing Finance and IndusInd Bank in the positive. Key equity index Nifty hovering around 11,600 amid caution ahead of April F&O expiry and Q4 earnings. All sectoral indices are giving mixed trends, with gains visible among Oil & Gas, Realty, Banking and IT sectors, while Auto and Metal are showing minor signs of pressure.
FII & DII Deets
Foreign institutional investors (FIIs) bought equity worth Rs 107.91 crore, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 198.35 crore on 23 April.
Earnings Reaction To Watch
Tata Global Beverages Ltd
- Total revenue grew to Rs 1810 crores in Q4 FY19, an increase from Rs 1714 crores in Q4 FY18.
- Net profit after tax to Rs 35 crores in Q4 FY19, a decrease from Rs 71 crores in Q4 FY18.
- Earnings per share to Rs 0.36 in Q4 FY19, a decrease from Rs 0.94 in Q4 FY18.
- Total revenue grew to Rs 4071 crores in Q4 FY19, an increase from Rs 3671 crores in Q4 FY18.
- Net profit after tax to Rs 338 crores in Q4 FY19, an increase from Rs 245 crores in Q4 FY18.
- Earnings per share to Rs 18.02 in Q4 FY19, an increase from Rs 13.05 in Q4 FY18.
Top News Of The Day
US To Ensure Steady Oil Supply
- The US decision not to extend waivers from sanctions on purchases of Iran’s oil is not intended to hurt India. Washington is working towards stabilising the global energy markets and maintaining steady oil supplies to friends and partners countries.
Softbank To Invest In Jio
- Japan’s Softbank is reportedly looking to make a 2-3 billion dollar investment in India’s fastest-growing telecom firm Reliance Jio as billionaire Mukesh Ambani looks to deleverage business by selling stakes.
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