Investors lose Rs 3.6 trillion as Sensex falls 883 pts on Covid-19 woes

Topics MARKET WRAP | Markets | Sensex

Stock market updates: The economic fallout of the second, stronger, and more lethal wave of Covid-19 butchered bulls on Dalal Street on Monday as investors sold shares worth Rs 3.6 trillion in the markets today. While the defensive counters witnessed restricted profit-booking, cyclical sectors cracked hard at the bourses. 

On the National Stock Exchange, the Nifty Pharma index was the only index that ended in thee green, up 0.17 per cent, while the Nifty IT and FMCG indices ended 0.33 per cent and 0.9 per cent down, respectively. Among cyclicals, the Nifty PSU Bank, Nifty Bank, Nifty Private Bank, and Nifty Financial Services indices slipped between 2.5 per cent and 4 per cent. The Nifty Auto, Realty, and Metal indices, meanwhile, tumbled up to 4 per cent.

Among the headline indices, the S&P BSE Sensex tanked 1,469 points in the early deals to hit a low of 47,363 levels. On the NSE, the Nifty plummeted 427 points to 14,191 levels. However, buying at lower levels in the pharma and IT space lifted Sensex and Nifty nearly 600 points and 170 points off lows. At close, the Sensex index quoted 47,949 levels, down 883 points while the Nifty50 was at 14,359 levels, down 258 points. Both the indices were down 1.8 per cent each. 

Britannia, Dr Reddy's Labs, Infosys, Wipro, and Cipla were the only gainers on the Nifty index, up between 0.6 per cent and 1.5 per cent. On the downside, Adani Ports, Power Grid, ONGC, Hero MotoCorp, IndusInd Bank, Bajaj Finserv, Kotak Mahindra Bank, and HDFC Life were the top drags, down up to 4 per cent.

In the broader markets, the S&P BSE MidCap and SmallCap indices declined 1.9 per cent and 1.6 per cent, respectively. 

Global markets
Contrary to Indian markets, world shares traded near record highs as markets were generally upbeat about the prospects for a global economic recovery from Covid-19, ahead of a busy week for earnings.

Europe's STOXX 600 was up 0.2 per cent while MSCI’s main European Index was up 0.1 per cent. Japan's Nikkei and South Korea's Kospi ended mildly higher while China CSI300 index jumped 2.4 per cent.


LIVE UPDATES

MARKET CLOSING COMMENT :: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Sec

The concerns over the unusual surge in Covid cases brought down the market with the benchmark indices breaking the crucial support of 14250/47690.  The market went down to 14200/47360 levels, however, in the second half of the trading session, it recovered back gradually towards 14350/48000 under the leadership of Technology and Pharmaceutical stocks.  Beaten down Bank stocks also recovered from lows that  helped the Bank Nifty to close at the highest point of the day at 31200 levels. Although the market has broken crucial support the market managed to close higher from the lower levels and has formed a hammer pattern.  Tomorrow would be crucial day for the market. Above the levels of 14450/48550, the Nifty would rally to 14570/14650 (49000) levels.  On the other side, 14250/14200 (47650/47300) would act as major supports, however on the dismissal of 14150/47300, Nifty could drop to 14000/46500 levels”

TECH VIEW :: Sumeet Bagadia, Executive Director at Choice Broking

On the Technical Front, the benchmark index tested the 61.8% FRL of its previous up move and formed Hammer Candlestick Pattern which suggests a strong bounce back move in the counter. Moreover, the Nifty index has taken support of 100-Exponential Daily Moving Averages as well as an hourly momentum indicator Stochastic has bounced from oversold zone with a positive crossover which points out strength for the upside. At present, the Nifty index has an immediate support at 14150 levels, while on the higher side it may find resistance around 14500 levels

MARKET CLOSING COMMENT :: Mohit Nigam, Head, PMS & Advisory at Hem Securities

Markets continue to move downwards directly as a consequence of a record number of corona cases. Increase in lockdown restrictions across different parts of the country spooked the market sentiments in the morning session, whereas in the second session we saw a partial recovery. We however believe that the increasing restrictions should not have a severe impact on the day to day working of Nifty 500 companies which by now would have found a way to continue with their operations. Hence, one can invest a part of their corpus to accumulate good quality companies across stable sectors. Technically, the market again rebounded from 14200 levels which is still acting as a strong support

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Retail Research at HDFC Securities

Indian benchmark equity indices ended lower on April 19 amid fears of impact of the second wave of Covid-19 and the consequent lockdowns on the economy. Nifty opened gap down and made a feeble attempt to rise through the day. At close, the NSE Nifty 50 Index also dropped 1.77% or 258 points to end at 14359.  This made India the worst performing market in Asia. The Indian rupee fell by the most in almost two weeks by about 0.5% to 74.89.
 
Volumes on the NSE were a tad below the recent averages. Among sectors, all ended in the red except Pharma. Financials (especially PSU Bank) led the falling sectors. The Nifty Midcap index fell 1.9% while the Smallcap index declined 1.6%.
 
Nifty has formed a second down gap in 5 days signifying the underlying weakness. However the close today was near the intra day high thereby making a hanging man type of formation. This could mean some more upside recovery in the near term. However at higher levels, markets will keep seeing repeated selling given the impact of Covid second wave on businesses and the economy.

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index opened a day with strong cuts but in the second half showed decent pullback & closed a day at 14365 with loss of nearly two per cent. The index has formed a hammer candle pattern on the daily chart which hints if current levels are held we may see some positive reversal in coming sessions, a strong base is still at 14250-14200 zone if managed to hold then good recovery possible towards immediate hurdle zone of 14450-14550 zone
 

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Domestic markets nosedived as surging Covid cases and the imposition of restrictions continued to fan investor worries. Increasing restrictions are forcing investors to reconsider the current valuations. Further, the banking sector pressured the market due to rising concerns over asset quality. As the investors remain focused on the rising covid-19 cases, the market will continue to ride on volatility. We can expect  stability as daily cases fall in the coming weeks due to lockdown, completion of state elections and immunity with vaccination

EXPERT TAKE :: S Ranganathan, Head of Research at LKP Securities on Pharma stocks

Pharma Index being the only positive index last week, the start to this week saw a continuation of that trend as pharma stocks stood tall in a weak market marred by rising coronavirus infections across states

Rupee Closing

Rupee ends weaker at 74.88 per US dollar vs Friday's close of 74.35/$

BSE Snapshot :: Market breadth firmly in the favour of bears


Stocks that dragged the Sensex lower today


Sectoral trends on the NSE :: PSU Bank, Realty indices tank 4%


Sensex Heatmap :: Dr Reddy's Labs, Infy sole gainers on the index


CLOSING BELL

Among the headline indices, the S&P BSE Sensex tanked 1,469 points in the early deals to hit a low of 47,363 levels. On the NSE, the Nifty plummeted 427 points to 14,191 levels. However, buying at lower levels in the pharma and IT space lifted Sensex and Nifty nearly 600 points and 170 points off lows. At close, the Sensex index quoted 47,949 levels, down 883 points while the Nifty50 was at 14,359 levels, down 258 points. Both the indices were down 1.8 per cent each. 

Covid-19 surge may hit securitisation in the near term, says Crisil

Securitisation volumes may be hit in the near term due to rising Covid-19 cases and the resultant restrictions being imposed in a number of states, according to rating agency Crisil.
 
Many non-banking finance companies (NBFCs) may be compelled to refocus their energies on collections, and fresh disbursements could take a back seat. READ MORE

TECH VIEW | Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed some swift recovery from its short-term support around the Nifty50 Index level of 14300. The expected level should range between 14300 and 14500, and it’s going to be crucial for the short-term market scenario to hold above the 14300 levels. The market breadth to recover significantly after a gap down opening that causes it to turn deep negative, while other momentum indicators are recovering from oversold reading, market to consolidate in the short term.
 

March Quarter Results :: Bajaj Consumer declares dividend worth Rs 4 per share

>> Revenue stands at Rs 249 crore

>> PAT at Rs 54.7 crore

>> Ebitda at Rs 61.7 crore

>> Ebitda margin at 24.8%


Jaguar Land Rover expects China premium car sales to grow this year

Jaguar Land Rover expects premium car sales to continue to grow this year in China, the automaker's chief finance officer for China said. Tim Howard was speaking to reporters at the 2021 Shanghai Auto Show. Jaguar Land Rover will start making first plug-in hybrid vehicles in China this year. Overall auto sales in China surged in March for a 12th straight month, as the world's biggest car market leads the sector's recovery from the COVID-19 pandemic. READ MORE


Nifty sectoral indices at this hour


Glenmark Pharma hits 23-month high on Glenmark Life Sciences IPO plan

Shares of Glenmark Pharmaceuticals hit a 23-month high of Rs 587.50, up 3 per cent, on the BSE in intra-day trade on Monday after the company announced that its API (Active Pharmaceutical Ingredient) division, Glenmark Life Sciences, is planning to raise fund via an initial public offer (IPO).
 
The stock of the drugmaker is trading at its highest level since May 2019. It recovered 9 per cent from its intra-day low of Rs 539 touched on the BSE. At 02:15 pm, the stock was quoting 1 per cent higher at Rs 577 as compared to a 1.9 per cent decline in the S&P BSE Sensex. The trading volumes on the counter almost doubled with a combined around 12 million equity shares changing hands on the NSE and BSE. READ MORE

NEWS ALERT :: PM will interact with leading doctors from across the country at 4.30 pm

>> PM will hold video conference with top pharma companies at 6 pm today
 

Automakers fear dent in sales as Covid-19 cases rise in India

The country's largest carmaker MSI stated that the auto sales were correlated closely with economic growth and also (being a discretionary purchase) with the consumer sentiment.
 
"The COVID-19 situation deterioration is obviously a negative for customer sentiment and thus has a negative impact on sales," MSI Executive Director (Sales and Marketing) Shashank Srivastava told PTI when asked about the impact of second wave of the pandemic on the company's sales. READ MORE

EXPERT TAKE :: Naveen Kulkarni, Chief Investment Officer, Axis Securities on marker correction

The economic impact of the current rise in covid cases will be significant in the short term as it will lead to lockdowns across many states in the country. However, the demand is never fully destroyed, and will come back. For many industries like travel, tourism, restaurants and hotels the impact will be significant. IT, Pharma, Metals, Telecom and Consumer staples will be less impacted and provide support. Discretionary consumption will be the most impacted sector and will see challenges

MARKET UPDATE:: Sensex off day's low, but still down 850 points


SECTOR WATCH:: Nifty IT index off day's low


Q&A | Markets could see a time and price correction: Valentis Advisors MD

After the sharp rebound in financial year 2020-21 (FY21), returns in FY22 will be relatively more muted, but still healthy in the low double-digits. Markets could see a time and price correction. A parallel was the market in FY10, where they nearly doubled from the March 2009 lows, yet gave a double-digit return for FY11. However, it was after a period of 4-6 months of consolidation in the first half of 2010. The surge in the virus cases in India and the consequent lockdowns; possible weakening of the economy and earnings as a consequence of the lockdowns; and rich valuations are the three things that could worry the market in the near term. READ FULL INTERVIEW HERE

European markets check

(Source: Reuters)


HDFC Bank embarks on 'Technology Transformation Agenda': MD tells employees

Having faced multiple episodes of digital banking glitches in the last two years, HDFC Bank has embarked on a 'Technology Transformation Agenda' to provide safe and secure banking services to its customers. HDFC Bank managing director Sashi Jagdishan in a letter to employees said the bank has faced five instances of downtime in last 28 months and every instance has hardened the bank's resolve to do better, keeping customers in mind. READ MORE




Street signs: Indian markets still weak, volatility mars PSBs' QIP plans

Nifty still “not out of the woods” After its second-worst fall of the year, the Nifty rose three straight trading sessions last week. While global markets are hitting new record highs, analysts believe the Indian markets are still “not out of the woods”.
 
They say till the time the Nifty trades below its 50-day moving average (DMA) the trend could be weak. “The Nifty tested the 100-DMA and is still below the 50-DMA. If it breaches its recent low of 14,248, the market will be moved back to a downtrend,” says a note by MarketSmith India. READ MORE

PVR, Inox Leisure skid up to 9% as Crisil downgrades long-term ratings

Shares of multiplex operators PVR and Inox Leisure extended their fall on Monday, declining up to 9 per cent on the BSE in the intra-day trade, after rating agency CRISIL downgraded its rating on the bank facilities of these companies over likely delay in recovery of operating performance due to the recent spike in Covid-19 cases. READ MORE


Investors' wealth tumbles over Rs 3.70 lakh cr as markets crack

Investors' wealth in morning trade on Monday tumbled over Rs 3.70 lakh crore as markets went into a tailspin amid record surge in coronavirus cases in India. The 30-share BSE benchmark index tanked 1,469.32 points to 47,362.71 in early trade. Following the massive selloff, the market capitalisation of BSE-listed companies declined by Rs 3,70,729.4 crore to Rs 2,01,60,016.60 crore in morning trade.

(Text Source: PTI)

SECTOR WATCH:: Aviation stocks in red

COMPANY NAME LATEST HIGH LOW CHG(%)
SpiceJet 61.30 64.00 61.15 -6.84
MFL India 0.17 0.17 0.17 -5.56
Interglobe Aviat 1521.30 1558.50 1516.95 -3.97
Jet Airways 84.80 85.00 84.80 -4.99
Click here for the full list

Supreme Petro hits record high in a weak market; up 38% thus far in April

SPL is promoted by Supreme Industries and the Rajan Raheja group with 30.78 per cent stake each. The company manufactures polystyrene (PS), expandable polystyrene (EPS) and Extruded Polystyrene (XPS). It has a polystyrene manufacturing plant at Nagothane in Raigad, Maharashtra, set up in technical collaboration with ABB Lumus Crest (USA). Apart from the primary business of polystyrene and EPS production, SPL imports styrene monomer and trades in the domestic market. READ MORE

'Disconnect between markets and the reality of on-ground Covid situation'

The rapid rise in Covid cases over the past few days have triggered a panic-like situation across the country, with most state governments resorting to mobility curbs and weekend curfews. Markets, too, have reacted sharply to the developments.
 
The S&P BSE Sensex has slipped around 9 per cent from its 2021 peak level of 52,517 hit on February 16 to around 47,700 levels now. The mid-and small-cap indices, too, have been in the line of fire with both the indices slipping nearly 7 per cent and 5 per cent, respectively during this period.  READ MORE

These bank stocks may tank up to 18% as second Covid wave threatens recovery

The 'Financial Services' segment command a weight of 38 per cent in the Nifty50 index with HDFC Bank (10.24 per cent), HDFC (7 per cent), ICICI Bank (6.34 per cent), Kotak Mahindra Bank (4 per cent), and Axis Bank (2.76 per cent) being 5 of the top 10 Nifty constituents. READ MORE

Trading in debt-ridden Coffee Day shares to resume from April 26

Debt-ridden Coffee Day Enterprises Ltd (CDEL) on Saturday said trading 0in its shares would be resumed at BSE and NSE from April 26.
 
"Revocation of suspension of trading in the equity shares of CDEL has been done by NSE and BSE vide their letter dated 16th April 2021. The trading in the securities of the company will be resumed from 26th April 2021, CDEL, which runs Cafe Coffee Day chain, said in a BSE filing. READ MORE

Top losers on BSE at this hour

Company PRICE(rs) CHG(%)
Team Lease Serv. 2980.85 -8.51
MMTC 38.75 -7.96
Suzlon Energy 4.44 -7.11
AU Small Finance 1001.05 -7.09
Bank Of India 64.80 -7.03
» More on Top Losers

NEWS ALERT

NEWS ALERT :: Delhi CM announces 1-week lockdown in the city

NEWS ALERT :: Jubilant Pharma develops novel oral formulation of Remdesivir

>> Jubilant Pharma develops novel oral formulation of Remdesivir with successful completion of safety and pharmacokinetic/absorption studies in animals and healthy human volunteers

Click here for details


Future Retail vs Amazon case

>> SC stops HC hearings in Amazon-Future Retail

>> SC to hear Amazon-Future Retail case on May 4

MARKET UPDATE:: ICICI Bank, HDFC twins, and RIL among top Sensex drags at this hour


IT index outperforms in a weak market


NEWS ALERT :: Delhi likely to be under complete curfew till April 26

NEWS ALERT | HCL Tech signs multi-million dollar digital transformation, hybrid cloud contract with UD Trucks



NEWS ALERT :: Delhi CM Arvind Kejriwal likely to hold press conference at 12 PM today

>> Reports suggest Delhi CM may order 1-week curfew beginning Monday night

Nureca hits 10% upper circuit for second straight day; zooms 83% in 3 weeks

Shares of Nureca were locked in 10 per cent upper circuit for the second straight day, at Rs 1,105.35 on the BSE on Monday in an otherwise weak market. The stock was trading at its highest level since listing on February 25. Nureca is a B2C company engaged in the business of home healthcare and wellness products. Nureca enables its customers with tools to help them monitor chronic ailments and other diseases, to improve their lifestyle. READ MORE


HDFC Bank: Credit card biz, Covid-19 second wave pose near-term threat

Market participants were quick to offload shares of private lender HDFC Bank on Monday as near-term concerns on the bank’s growth prospects weighed on investors’ minds. Shares of the Mumbai-based bank skidded 4 per cent in the intra-day trade to hit a low of Rs 1,373 apiece on the BSE. HDFC Bank’s bottom line for the March quarter missed Street estimates as the lender set aside higher than expected provisions. READ MORE


Normal monsoon to boost stocks of agri-related companies, cool inflation

A normal monsoon in 2021 for the third consecutive year, as predicted by the Indian Meteorological Department (IMD) and private weather forecaster Skymet, is likely to boost fortunes of agri-related companies such as pesticides and fertilisers, irrigation, farm equipment etc., say analysts. They, however, caution that the impact will also depend on government policies at a time when the country is facing a second wave of Covid infections and inflation concerns given the steady rise in prices of key commodities. That apart, the temporal and spatial distribution of the monsoon, experts say, rains will remain crucial. READ MORE

Financials under pressure; ICICI Bank, RBL Bank, IndusInd slip up to 7%

Financial stocks were under pressure at the bourses, falling up to 7 per cent, in intra-day trade on the National Stock Exchange (NSE) on Monday on concerns over near-term growth momentum and asset quality improvement due to the pandemic-induced local lockdowns on continuously rising Covid-19 cases. READ MORE

NEWS ALERT | PM Modi to chair a meeting on Covid-19 situation at 11:30 AM today

Covid-19: India logs 2,73,810 coronavirus cases in single day, 1,619 deaths

India's total tally of COVID-19 cases crossed 1.50 crorewith a record single-day rise of2,73,810new coronavirus infections,while the active cases surpassed the 19-lakh mark,according to the Union Health Ministry data updated on Monday. The total tally of COVID-19 cases mounted to 1,50,61,919 and the death toll increased to 1,78,769with a record 1,619 daily new fatalities,the data updated at 8 am showed. READ MORE

Manic Monday! Here's what led to a stock market crash today

The domestic benchmark indices nosedived in Monday's session following a strong second wave of Covid-19 in the country, leaving the market bulls battered. An across-the-board selling resulted in a 1,469 point crash in the BSE barometer Sensex, with financials and banking counters the worst hit. The index was last quoting at around 47,600 levels. Barring shares of Dr Reddy's Labs, all constituents of the 30-pack index traded in the red. READ MORE


Bank FDs in spotlight as returns of liquid funds hit two-decade low

Returns on liquid funds have slumped over the past few months, with 1-year returns now at 3.4 per cent — among the lowest in the past two decades — and below the short-term interest rates offered by several banks on fixed deposits.
 
This will especially hurt institutional investors, who contribute an estimated 80 per cent to assets of such funds. READ MORE

Macrotech Developers makes weak market debut, lists at 10% discount

Shares of Macrotech Developers (MDL) made a weak debut on the bourses, on Monday, with stock listing at Rs 439, a 10 per cent discount from its issue price of Rs 486 per share. The stock listed at Rs 436 on the National Stock Exchange (NSE). Post listing, the stock hit a high of Rs 463.70 and a low of Rs 421 on the BSE. At 10:04 am, MDL was trading at Rs 450.80, up 3 per cent from its opening level and 7 per cent down against issue price on the BSE. A combined 1.4 million equity shares have changed hands on the counter on the NSE and BSE, so far. READ MORE
 

Rupee opening

Rupee opens weaker at 74.77 per US dollar vs Friday's close of 74.35/$

Linde surges 10%, hits new high in a weak market; zooms 124% in 3 months

Shares of Line India, a supplier of medical oxygen to hospitals and industrial gases to corporations, surged 10 per cent to hit a new high of Rs 2,078.60 in intra-day trade on the BSE on Monday in an otherwise weak market on expectation of higher product demand, due to the rising coronavirus cases. The stock was trading higher for the fourth straight day, rallying 19 per cent during the period. READ MORE

NEW LISTING :: Macrotech Developers likely to list at 10% discount


MARKET UPDATE:: Nifty PSU Bank index extends losses


Most active stocks by volume

Company PRICE(rs) CHG(%) VOLUME
Vodafone Idea 8.45 -4.30 5123065
Punjab Natl.Bank 32.85 -5.74 1792902
Suzlon Energy 4.50 -5.86 1407931
S A I L 88.15 -3.56 900923
IDFC First Bank 50.10 -6.53 803030
» More on Most Active Volume

Volatility Alert

>> India VIX jumps 11% to trade at 22.6 level

Select pharma stocks rally amid record Covid-19 cases


Everest Kanto leaps over 8% as demand for oxygen cylinders soar in the country


ICICI Lombard declines over 2.5%

>> ICICI Lombard General Insurance Company reported 23 per cent YoY rise in net profit at Rs 346 crore for March quarter 2020-21. The non-life insurer had posted a net profit of Rs 282 crore in the corresponding period of 2019-20.


Religare Enterprises tumbles 5%

>> With debt restructuring plan getting approved by a consortium of 18 lenders led by SBI, Religare Finvest Ltd (RFL) is gearing up for new business, Religare Enterprises Chairperson Rashmi Saluja said. RFL, an NBFC arm of Religare Enterprises Ltd, has been barred from undertaking fresh business as it is under corrective action plan (CAP) since January 2018.


Future Retail slips 2% in a weak market

>> Lenders of the debt-ridden Future Retail have approved a plan to restructure the existing financial debt of the company under an RBI announced resolution framework for Covid-19 related stress. The restructuring plan would now be forwarded for approval to an expert committee, formed by RBI under the chairmanship of K V Kamath.


Mindtree outperforms in a weak market, trades higher on strong Q4 results

>> The IT firm said its consolidated net profit rose by 53.9 per cent YoY to Rs 317.3 crore in the March quarter on the back of strong operational efficiency, and expressed confidence in logging double-digit growth in FY22.


HDFC Bank declines 3% as Q4 nos miss Street estimates

>> The private sector lender on Saturday reported a 15.8 per cent YoY rise in its consolidated net profit at Rs 8,434 crore for the quarter ended March 2021. The private sector lender had registered a net profit of Rs 7,280 crore in the corresponding quarter a year ago.


Sectoral trends on the NSE :: Defensives see restricted losses, cyclicals crack


Sensex Heatmap :: Index falls 1,100 pts; financials, auto lead the losses


Opening Bell :: Nifty tests 14,250 in early deals


Opening Bell :: Sensex drops nearly 900 pts


Stock picks by Sameet Chavan

NSE Scrip Code – STRIDES PHARMA
 
View – Bullish
 
Last close – Rs 922.15
 
Justification – The PHARMA seems to be in a different orbit altogether since the last 12 months. Mostly all counters from this space have completely compensated for the underperformance as well as boredom they had given for the previous five years. Now, stocks are in a hurry as the recent brief period of time as well as price correction got bought into. STRIDES PHARMA failed to participate in last few days’ rally; but on Friday, we finally witnessed a decisive price and volume breakout from the recent congestion zone. We recommend going long around 912 – 907 for a target of Rs 992 in coming days. The strict stop loss can be placed at Rs 872. READ MORE

Markets at Pre-open :: Nifty tests 14,300


Markets at Pre-open :: Sensex plunges 1,000 pts


Top trading ideas by Ventura Securities

Bajaj Electricals
 
CMP: Rs 1,140
 
Target Price: Rs 1,400-1,700
 
Bajaj Electricals started its recent up move from 474 in December, 2020 and touched a high of 859 in January, 2021. After a minor correction, it saw an aggressive buying, supported by volumes with gap-ups and reached a high of 1,124 in February, 2021. Again, it was subject to minor profit booking after which the stock made bottoms at 925 and 895. READ MORE

Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

BUY HDFC AMC | CMP: Rs 2,929 | Target: Rs 3,350-3,400 | Stop Loss: Rs 2,770
 
The stock has made a good base near 2,770 levels taking support on thrice occasions and reversing from that level. The RSI has also improved its bias and with the stock moving above the 50-EMA level of 2,935, it has further shown strength. We anticipate further upward movement in the coming days. We suggest to buy and accumulate the stock for an upside target of 3,350-3,400, keeping the stop loss of 2,770. READ MORE

Top stocks to watch today

Macrotech Developers: The shares of Macrotech Developers will list on the bourses today. The IPO that ran between April 7-9 was subscribed 1.36 times. The issue price has been fixed at Rs 486 per share.
 
Earnings Today: ACC, ICICI Prudential Life Insurance Company, Bajaj Consumer Care, CRISIL, Agio Paper & Industries, Pratik Panels, Response Informatics, and Sri Chakra Cement will release quarterly numbers on April 19. READ MORE

Bulk deals on the BSE as on Friday

Bulk deals on the NSE as on Friday

FII/FPI & DII trading activity on NSE, BSE and MSEI


Rupee check

Source: Bloomberg


Oil check

Oil prices fell on Monday amid mounting concerns that surging caseloads of coronavirus infections in India and other countries will lead to stronger measures and hit economic activity, along with demand for commodities such as crude.
 
Brent crude was down 43 cents, or 0.6%, at $66.34 a barrel, after rising 6% last week. U.S. oil was down 42 cents, or 0.7%, at $62.71 a barrel, having gained 6.4% last week.

(Source: Reuters)

SGX Nifty alert

>> At 8:34 am, the index was at 14,472 levels, down 170 points

Asian markets check

Asian shares hovered near 1-1/2 week highs on Monday helped by expectations monetary policy will remain accommodative the world over, while Covid-19 vaccine rollouts help ease fears of another dangerous wave of coronavirus infections.
 
Australian shares were 0.25% higher while South Korea's KOSPI added 0.4% and Japan's Nikkei eased 0.4%.

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