Results for: Nifty 50

The Indian stock market witnessed a positive trend on April 24, 2024, with both Nifty 50 and BSE Sensex closing higher. Nifty 50 gained 104.3 points (0.47%), reaching a value of ___, while Sensex climbed by 367.52 points (0.5%), closing at ___. In the BSE Sensex index, Tata Steel, Kotak Mahindra Bank, Bajaj Finserv, Power Grid Corporation of India, and Bajaj Finance emerged as the top gainers. Infosys, Hindustan Unilever, Tech Mahindra, and Asian Paints were among the top losers. Within the Bank Nifty index, Bandhan Bank, Kotak Mahindra Bank, HDFC Bank, Axis Bank, and ICICI Bank led the gains, while Bank Of Baroda and Au Small Finance Bank experienced declines.

The domestic benchmark equity indices, the Sensex and the Nifty 50, extended their winning run for the third consecutive day on Wednesday, led by advances in metals and auto stocks. The NSE Nifty 50 opened at 22,421.55, up 53.50 points, while the 30-share BSE Sensex started off at 73,957.57, up 213.65 points. The Nifty 50 has recovered over 3% from its recent swing low in the past 3 trading days. The Bank Nifty is also likely to fetch further positive momentum for targets on the upside to scale towards 49,100 odd. Top stock recommendations for Wednesday include L&T, Deepak Nitrite, APL Apollo Tubes, and Future Retail.

Domestic equity benchmarks Sensex and Nifty 50 extended their gains for the third straight session on Thursday, boosted by gains in telecom, tech, and consumer durable stocks. The volatility index, India VIX, declined significantly, indicating a reduction in market volatility and a more stable market outlook. Sensex closed 90 points higher, while Nifty 50 gained 32 points.

Reliance Industries Ltd.’s (RIL) shares experienced a decline of over 1% on Tuesday, despite a slight uptick in the Nifty 50 index. The company’s performance in the fourth quarter of FY24 (Q4FY24) lacked significant catalysts for the stock. Notably, growth in RIL’s retail business, a key factor in the company’s valuation, has moderated. Gross retail revenues declined sequentially in Q4 following a festive season surge in Q3. However, year-on-year, the segment exhibited an 18% increase in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). Concerns regarding retail valuations, exemplified by the performance of Avenue Supermarts Ltd., highlight the need for growth to exceed expectations or for premium valuations to persist beyond five years to generate meaningful returns. In contrast, RIL’s telecom subsidiary, Jio, is being valued in line with Bharti Airtel Ltd. and possesses strong potential for generating free cash flow. The company’s oil-to-chemicals (O2C) segment, including refining and petrochemicals, has maintained consistent feedstock throughput, generating substantial EBITDA. RIL’s primary catalysts for stock growth are expected to be its consumer-facing businesses as the new energy business continues to develop.

Indian equities closed higher on Tuesday, fueled by gains in real estate, technology, and consumer durables sectors. The Nifty 50 index rose by 0.14%, while the BSE Sensex 30 index gained 0.12%. Bharti Airtel emerged as a major gainer, rising by 3.89% on both the NSE and BSE Sensex 30. However, Sun Pharmaceutical Industries suffered losses, declining by 3.48% and 3.56% on the BSE and NSE, respectively.

The Indian equity markets opened on a positive note on Tuesday, with the Sensex and Nifty 50 gaining ground amid a positive global environment and gains in realty and IT stocks. Fueled by a decline in oil prices, the markets extended their Monday gains, signaling a sustained underlying bullishness despite external macroeconomic factors.

Indian stock markets maintained their upward momentum on Monday, extending gains for the second consecutive session. Key indices, Nifty 50 and Sensex, closed higher, while the Bank Nifty index also surged. Anand Rathi’s Ganesh Dongre expressed optimism about the market trend if the Nifty 50 holds above 21,800-21,900 support. He recommended three stocks for investment: MCX, HCL Tech, and RCF, providing buy, target, and stop loss levels for each. The overall market sentiment remains bullish, with the advance-decline ratio indicating a positive outlook for the coming days.

The Indian stock market is poised to open higher on Tuesday following favorable global cues. The benchmark Nifty 50 index is projected to start flat, according to trends on the Gift Nifty. On Monday, the domestic equity indices ended significantly higher for the second consecutive session, with the Nifty closing above the 22,300 level. Nifty 50 formed a doji pattern on the daily chart, indicating a pause in the uptrend. Key levels to watch for Nifty 50 and Bank Nifty include support at 22,000 and resistance at 22,500. Analysts expect continued bullish sentiment in the market, with potential upside targets of 22,600-22,700 for Nifty 50 and 48,000 for Bank Nifty.