Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Thursday’s trading session in the positive territory. The NSE Nifty 50 gained 80 points or 0.36% to settle at 22,514.65, while the BSE Sensex jumped 350.82 points or 0.47% to 74,227.64. The broader indices ended in mixed territory, with gain led by Large-cap and Small-cap stocks. Bank Nifty index ended higher by 436.55 points or 0.92% to settle at 48,060.80. IT and Banks stocks outperformed among the other sectoral indices while PSU Banks and Energy stocks shed.
The NSE Nifty 50 gained 0.36% to settle at 22,514.65, while the BSE Sensex jumped 0.47% to 74,227.64.
HDFC Bank, Eicher Motors, Asian Paints, Tech Mahindra, and TCS were the top gainers in the Nifty 50. While ONGC, Shriram Finance, Adani Ports, BPCL, and SBI were the key losers in the Nifty 50 on April 04.
On Wednesday, the share price of Avenue Supermarts surged by over 5% to hit a 52-week high, following the company’s announcement of robust business growth for the fourth quarter of FY24. Similarly, DMart shares rallied by 5.61% to reach a fresh high of Rs 4,710.15 each on the BSE.
Avenue Supermarts, the operator of DMart stores, disclosed a standalone revenue of Rs 12,393.46 crore for the quarter ending March 2024, indicating a nearly 20% increase from Rs 10,337.12 crore recorded in the corresponding quarter of the previous year.
Also Read: Radhakishan Damani owned Avenue Supermarts shares jump 5% to 52-week high on strong Q4 expectation
AU Small Finance Bank, IPCA Laboratories, Bandhan Bank, Coforge, and UPL were the top Nifty midcap gainers. While Hindustan Petroleum, Mazagon Dock, Petronet, Vodafone Idea, and Oil India were the major losers in the Nifty Midcap 100 on April 04.
In today’s intraday trading session, GE Power India, a key player in India’s power generation equipment market, experienced a remarkable 11.8% surge in its shares, reaching a 34-month high of Rs 371 apiece. This surge follows the announcement of substantial orders and signifies the stock’s sixth consecutive trading session of gains, amounting to an impressive cumulative increase of 45%.
Shares of Manappuram Finance advanced 4.3% to hit a 52-week high of Rs 202.45 after the yellow metal, gold, touched its lifetime high on April 04. However, the stock came off highs and was trading at Rs 195.75, up 0.8% from the previous close.
Courtesy: NSE
Jefferies India anticipates a doubling of domestic defence spending by FY30, fostering optimism in stocks like Hindustan Aeronautics (HAL), Data Patterns, and Bharat Electronics (BEL).
As a prominent brokerage firm, Jefferies India has started covering HAL and Data Patterns with a “buy” rating, while also expressing confidence in BEL’s future. HAL, identified as a potential multibagger stock, has been assigned a 12-month price target of Rs 3,900, suggesting a potential upside of nearly 13% from its current levels.
Read More: Jefferies sees 45% upside in defence stocks; HAL, Data Pattern top picks
The NSE Nifty 50 was down 45.25 points or 0.20% at 22,389.40, while Sensex was down 81.13 points or 0.11% at 73,795.69.
Shares of AU Small Finance Bank rose 5.7% to an intraday high of Rs 639.95 compared to its previous close of Rs 605.05. The company’s total gross loan portfolio grew to Rs 82,175 crore, an increase of 8% compared to the same period a year ago.
On Wednesday, DMart’s share price surged over 5% to reach a 52-week high following the company’s announcement of robust business growth for the fourth quarter of FY24. DMart shares witnessed a significant rally, climbing as much as 5.61% to reach a new peak of ₹4,710.15 each on the BSE.
Avenue Supermarts, the entity behind DMart stores, disclosed a standalone revenue of ₹12,393.46 crore for the quarter ending March 2024, marking a nearly 20% increase from ₹10,337.12 crore recorded in the corresponding quarter of the previous year.
The stock of HDFC Bank rose 3% to an intraday high of Rs 1,526.35, becoming the top gainer in the Nifty 50. The stock hit the 52-week-high of Rs 1,757.50 on July 03, 2023. It touched its 52-week low of Rs 1,363.55 on February 14, 2024.
On Thursday, Aditya Birla Capital’s shares surged 2% to Rs 208, hitting its 52-week high on the NSE after Macquarie initiated coverage on the NBFC with an outperform rating. Macquarie’s target price for the stock over the next 12 months is Rs 230, expressing confidence in its potential to double in value within three years.
Suresh Ganapathy, an analyst at Macquarie, suggests that Aditya Birla Capital (ABCL) is positioned for substantial growth in loans and earnings, primarily driven by its lending and savings businesses.
Also Read: Aditya Birla Capital share hits new 52-week high; Macquarie initiates coverage with 'Outperform'
Courtesy: NSE
HDFC Bank, NTPC, Hindalco, Power Grid, and Axis Bank were the top gainers in the Nifty 50. While IndusInd Bank, HCL Technologies, Sun Pharma, Bharti Airtel, and ONGC were the key laggards in the Nifty 50 on April 04.
The NSE Nifty 50 opened 0.53% higher at 22,553.85, while the BSE Sensex opened 0.55% higher at 74,285.42.
“Bank Nifty managed to close the day in the green. The zone of 47300 – 47250 acted as a crucial support zone and absorbed the selling pressure. We expect the bank nifty to continue with the up-move towards 48000 – 48160 over the next few trading sessions,” said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.
The Nifty opened gap down and witnessed a recovery during the day to close off the intraday lows though marginally in the red, down 19 points.
“On the daily charts, we can observe that the Nifty has been witnessing consolidation since the past three trading sessions. The momentum setup on the daily and hourly tie frame is providing divergent signals and hence can lead to a consolidation in the near term,” said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas. On the downside, the zone of 22400 – 22350 is acting as a support zone while 22500 – 22530 is the immediate hurdle zone. A breach on the range on either side shall result in a trending move
Hindustan Copper, Sail, and Zee Entertainment were in the F&O Ban list on April 04.
Foreign institutional investors (FII) sold shares net worth Rs 2,213.56 crore. Whereas, domestic institutional investors (DII) bought shares net worth Rs 1,102.41 crore on April 04, 2024, according to the provisional data available on the NSE.
WTI crude prices were trading at $85.62 up by 0.04%, while Brent crude prices were trading at $89.61 up by 0.06%, on Thursday morning.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded lower, 0.03% at 104.20.
The stocks on Wall Street ended on a mixed note. The Dow Jones Industrial Average closed 43.10 points or 0.11% lower at 39,127.14. The S&P 500 rose 0.11% to close at 5,211.49. Similarly, the Nasdaq Composite advanced 0.23% closing at 16,277.46.
