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Sensex closes flat, Nifty at 14,700; pharma, metal, realty stocks gain

Market closing: Benchmark Indian equity indices closed flat on Tuesday, paring gains from earlier in the day. (PTI)Premium
Market closing: Benchmark Indian equity indices closed flat on Tuesday, paring gains from earlier in the day. (PTI)

  • Market closing: The Sensex closed at 49,201.39, up 42.07 points, or 0.09%, while the Nifty was at 14,683.50, up 45.70 points, 0.31% on Tuesday. Asian Paints, Sun Pharma, Dr Reddy and 14 other stocks closed in green on the 30-share gauge.

Sensex, Nifty closed flat on Tuesday having gained momentum earlier on Tuesday. World stocks hit record highs on the same day, supported by strong economic data from China and the US.

06 Apr 2021, 03:52:38 PM IST

Market closing

Benchmark Indian indices closed flat on Tuesday. The Sensex ended the day at 49,201.39, up 42.07 pts, or 0.09%, while the Nifty was 14,683.50, up 45.70 points, or 0.31%. Among broader indices the BSE midcap and smallcap closed at 1% and 0.8%, respectively. The Nifty midcap 100 and smallcap 100 closed at 0.91% and 1.35%, respectively. Pharma, realty and metals were top gainers, while banking stocks closed lower on Tuesday. On the 30-share gauge, Asian Paints, Sun Pharma, HUL, HDFC, and 13 other stocks ended in green, while Power Grid, Axis Bank, IndusInd Bank, and 10 other stocks ended in red.

Sensex at close
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Sensex at close
06 Apr 2021, 03:25:32 PM IST

CRED enters unicorn club at $2.2 bn valuation

Serial entrepreneur Kunal Shah’s fintech startup, CRED, on Tuesday said it has closed $215 million as part of its Series D funding round, at a post-money valuation of $2.2 billion, making it the latest entrant to India’s unicorn league. (Read here)

06 Apr 2021, 03:15:17 PM IST

Capital markets engine for India's growth, says Uday Kotak

Capital markets are the engine for India's growth, and policymakers across the spectrum need to keep in mind that this needs to be nurtured and sustained, CII president Uday Kotak said on Tuesday.

During the pandemic, he said, capital markets supported the economy, helped the corporates raise much-needed funds for sustenance.

"We saw probably the highest levels of fund raise. We saw an active and a functioning capital market, and the regulator Sebi and the Ministry of Corporate Affairs were on their toes to do what is right for markets, and to ensure a delicate balance between the interests of issuers and investors," he said. (PTI)

06 Apr 2021, 03:09:34 PM IST

Tarun Bajaj appointed revenue secretary; Ajay Seth new DEA secretary

Senior bureaucrat Tarun Bajaj was appointed revenue secretary as part of a top-level bureaucratic reshuffle by the Centre on Tuesday.

Bajaj, a 1988-batch Indian Administrative Service (IAS) officer of the Haryana cadre, is currently secretary in the Department of Economic Affairs (DEA).

The Appointments Committee of the Cabinet has approved his appointment as secretary, Department of Revenue, a Personnel Ministry order said.

Ajay Seth will be the new DEA secretary in place of Bajaj. Seth, a 1987-batch IAS officer, is currently serving in his cadre state of Karnataka. (PTI)

06 Apr 2021, 03:04:15 PM IST

WazirX volumes top $350mn despite outage, flat crypto trading

Trading volume on WazirX, India’s largest crypto exchange, topped the $350-million level for the first time on Monday, even as the bourse witnessed outage over the weekend and prices of top cryptocurrencies traded flat over the past few sessions. (Read here)

06 Apr 2021, 02:55:41 PM IST

Oil rebounds on robust economic data, bargain hunting

Oil prices rose on Tuesday as investors looked for bargains following the previous day's plunge on rising output from Opec+, while strong economic data from the US and China brightened recovery prospects.

Brent crude futures rose 78 cents, or 1.26%, to $62.93 a barrel by 0646 GMT, after falling 4.2% on Monday.

US West Texas Intermediate (WTI) crude futures rose 81 cents, or 1.38%, to $59.46, after sliding 4.6% on Monday. (Reuters)

06 Apr 2021, 02:46:21 PM IST

Cement Firm Nuvoco Plans $800 Million IPO Filing in April

Nuvoco Vistas Corp., an Indian cement manufacturer owned by the detergent-making Nirma Group, plans to file a draft prospectus as soon as this month for an $800 million initial public offering, according to people with knowledge of the matter.

The Mumbai-based company, backed by Kotak Investment Advisors, will sell new shares as well as secondary shares from shareholders, the people said, asking not to be identified as the deliberations are private. (Bloomberg)

06 Apr 2021, 02:34:14 PM IST

Panacea Biotec gains 20% on cooperation with RDIF for Sputnik-V vaccine

Shares of Panacea Biotec surged as much as 20% after the company announced co-operation with the Russian Direct Investment Fund (RDIF) to produce 100 million doses per year of Sputnik-V vaccine.

At 2:33 pm, Panacea Biotech was trading at 220.85, up 36.80 points, or 19.99%.

06 Apr 2021, 02:27:38 PM IST

Pharma stocks lead

BSE Healthcare index
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BSE Healthcare index
06 Apr 2021, 02:16:07 PM IST

Marico trades lower

The maker of Parachute oil was trading at 402.60 apiece, down 0.35 points or 0.09%. Marico said sales of fast-moving consumer goods registered improving demand trends as economic growth during the fourth quarter moved to positive territory with India business posting very "strong double-digit" volume growth but maintained caution with the ongoing surge in covid-19 cases in the country.

06 Apr 2021, 02:05:00 PM IST

BP hits $35 billion net debt target well ahead of schedule

06 Apr 2021, 01:55:38 PM IST

RIL, HDFC Bank, ICICI Bank top drags

Index contribution
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Index contribution
06 Apr 2021, 01:39:55 PM IST

Indian markets erases morning gains

Indian markets on Tuesday erased most of its morning gains and was trading little changed after more states joined restrictions amid rising continuous covid cases. Earlier in the day, Sensex surged nearly 422 points while Nifty gained 141 points. At 1:36 pm, the benchmark Sensex was trading 0.01% lower to 49,155.66, while Nifty rose 0.18% to 14,663.60. (Read here)

06 Apr 2021, 01:28:36 PM IST

Gold hits more than one-week peak as dollar and yields slip

Gold prices climbed to their highest in more than a week on Tuesday as a weaker dollar and a drop in U.S. bond yields boosted demand for the metal.

Spot gold was up 0.1% at $1,730.46 an ounce by 0703 GMT after touching its highest since March 25 at $1,737.35. US gold futures rose 0.1% to $1,731.10. (Reuters)

06 Apr 2021, 01:19:22 PM IST

Satia Industries secures ₹596.3 mn order

Satia Industries Ltd has been awarded an order worth 596.30 million from Rajasthan state textbook board, for supply of 8,900 MT paper at the rate of 67,000 per tonne. The order will be executed by or before 30 June it said in a regulatory filing.

06 Apr 2021, 12:58:33 PM IST

NBFCs witnessing recovery in growth and collection efficiency

Economic recovery, coupled with a stable liquidity scenario, is leading to a strong recovery in growth and collection efficiency for non-bank financiers.

Across product segments, disbursements for the March quarter of FY21 are likely to be at pre-covid levels, analysts at Motilal Oswal said in a note on Tuesday. (Read here)

06 Apr 2021, 12:41:03 PM IST

APSEZ cargo volume up 41 pc in March to 26 MMT

Adani Ports and Special Economic Zone (APSEZ) said on Tuesday it handled cargo volume of 26 million metric tonnes (MMT) in March, marking a growth of 41 per cent on year-on-year basis and 23 per cent on month-on-month basis.

In Q4 FY21, it handled cargo volume of 73 MMT, registering a growth of 27 per cent y-o-y. APSEZ handled cargo volume of 247 MMT in FY21, clocking a growth of 11 per cent y-o-y.

In the container segment, APSEZ handled 7.22 million TEUs (twenty-foot equivalents) in FY21, registering a growth of 16 per cent y-o-y. The market share of APSEZ in container increased to 41 per cent of all India container volume in FY21. (ANI)

06 Apr 2021, 12:32:41 PM IST

G.M. Breweries' board approves dividend

G.M. Breweries Ltd's board of directors has recommended a dividend of 4 per share. The dividend payment will be subject to the forthcoming AGM, the company said in a regulatory filing.

06 Apr 2021, 12:20:11 PM IST

RBL Bank gross advances up 5% at ₹60,012 cr as of Mar'21

Private sector lender RBL Bank has registered a 5% rise in its gross advances at 60,012 crore as of March end 2021.

RBL Bank's gross advances by the end of March 2020 was 58,966 crore, the lender has said in a regulatory filing.

Total deposits were up by 9% to 73,123 crore in the period under review, as against 57,812 crore a year ago. (PTI)

06 Apr 2021, 12:05:08 PM IST

Sensex heatmap

Sensex at noon
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Sensex at noon
06 Apr 2021, 11:49:26 AM IST

FPIs invest ₹2.74 lakh cr in equity markets during FY'21

The finance ministry on Tuesday said India witnessed strong Foreign Portfolio Investment (FPI) inflows into the equity markets to the tune of 2,74,034 crore during 2020-21, despite the outbreak of covid-19.

This reflects steadfast confidence of foreign investors in the fundamentals of the Indian economy, the Ministry said in a statement.

During the financial year 2020-21, only in April and September there were outflows of 6,884 crore and 7,783 crore respectively. (PTI)

06 Apr 2021, 11:32:08 AM IST

Metal, realty, pharma surge

Nifty sectoral indices
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Nifty sectoral indices
06 Apr 2021, 11:23:51 AM IST

Adani Group becomes third Indian conglomerate to cross $100 bn in mcap

Adani Group has become India's third conglomerate to cross over $100 billion market capitalisation for the first time with its shares soaring to an all-time high. The total market cap of five listed Adani group companies stood at over $104 billion, according to BSE Data. (Read here)

06 Apr 2021, 11:10:24 AM IST

Sobha Ltd's shares gain

Shares of Sobha Ltd jumped 6.7% in Tuesday's session at 458 per share on the BSE after the company on Monday said that the new sales stood at 1,337,707 square feet in Q4 with total sales value at 1,072 crore. Total sales value achieved during FY 20-21 is the highest ever in the history of the company, it informed in a regulatory filing. (Read here)

06 Apr 2021, 10:56:08 AM IST

HDFC, Asian paints, Infosys drive gains

Index contribution
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Index contribution
06 Apr 2021, 10:47:00 AM IST

Rupee surges 10 paise to 73.20 against US dollar in early trade

The rupee appreciated by 10 paise to 73.20 against the US dollar in opening trade on Tuesday supported by positive domestic equities and strong Asian currencies.

At the interbank forex market, the local unit opened at 73.22 against the US dollar, then inched higher to 73.20 against the greenback, registering a rise of 10 paise over its previous close. (PTI)

06 Apr 2021, 10:43:38 AM IST

Flipkart partners Mahindra Logistics for EV deployment

Flipkart announced that it has partnered with Mahindra Logistics Ltd as one of its key logistics partners to help fast track deployment of electric vehicles across its logistics fleet in the country, Mahindra logistics said in a regulatory filing.

06 Apr 2021, 10:28:40 AM IST

Bajaj Finance shows slow improvement but challenges are mounting

Consumer lender Bajaj Finance Ltd’s fourth quarter update showed a mixed picture. The lender has been able to add new customers at a rate similar to pre-pandemic levels.

In an update on its March quarter, the non-banking financial company (NBFC) said it added 2.3 million new customers and 5.5 million new loans during the quarter. To be sure, Bajaj Finance has been able to keep the rate of new customer accretion healthy. But that has been an outcome of not just the company’s efforts but also some luck. Analysts believe that the competition from HDFC Bank may have reduced a bit after the lender was penalised by the regulator on digital lapses. (Read here)

06 Apr 2021, 10:16:06 AM IST

Tata Steel hits ₹1 tn in market capitalisation

Tata Steel Ltd on Tuesday became the second metal firm to enter into the elite club of 1 trillion market cap with shares hitting a record high.

The stock hit a fresh record high of 882.30 with market cap of 1.05 trillion. At 10am, the scrip was trading at 875.65 on BSE, up 1% from its previous close. (Read here)

06 Apr 2021, 09:53:11 AM IST

Most Asia stocks dip as dollar, treasuries edge up

Most Asian stocks fell Tuesday as concern that China is curtailing loan growth damped sentiment after U.S. stocks hit a record on optimism about the rebound in the world’s largest economy. Treasuries and the dollar ticked up.

An Asia-Pacific share gauge dipped for the first time in four days, led by losses in Japan. (Bloomberg)

06 Apr 2021, 09:42:17 AM IST

Market opening

The Sensex rebounded to 49,461.73, up 302.41 points or 0.62%, after opening over 100 points lower on Tuesday. The Nifty was at 14,734.20, up 96.40 points, or 0.66%. Most sectors opened in red, but soon rebounded to positive territory.

Sensex at open
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Sensex at open
06 Apr 2021, 09:18:06 AM IST

Gold prices today near highest in 1 month after falling to year low last week

Gold and silver prices edged higher today in Indian markets, tracking positive global cues. On MCX, June gold futures were up 0.35% to 45503 per 10 gram while silver rose 0.6% to 64,943 per kg. In the previous session, gold and silver had dropped 0.15% and 0.9% respectively. Gold has been trading in a range of 45,700 to 44,100 over the past one month. (Read here)

06 Apr 2021, 09:04:55 AM IST

Market pre-opening

The Sensex as at 49,282.85, up 123.53 points, or 0.25%, while the Nifty was at 14,637.80, down 229.55, or 1.54% at market pre-opening on Tuesday.

06 Apr 2021, 08:48:14 AM IST

KKR raises its largest Asian PE fund with $15 bn corpus

American private equity giant KKR on Tuesday said it has reached the final close of its latest Asia-focused private equity fund, KKR Asian Fund IV, with a corpus of $15 billion. (Read here)

06 Apr 2021, 08:38:47 AM IST

Asian stocks gain on US recovery prospects

Asia's stock markets rose on Tuesday as another batch of strong U.S. economic data bolstered the global outlook, while currency and bond markets paused for breath after a month of rapid gains in the dollar and in U.S. Treasury yields.

06 Apr 2021, 08:22:54 AM IST

Market outlook

Indian markets are likely to open marginally lower on Tuesday tracking losses in SGX Nifty index. In early morning SGX Nifty was down 0.04%.

Equity markets on Monday lost nearly 1.74% over worries that the return of covid-19 curbs in various states could derail economic recovery.

06 Apr 2021, 08:08:13 AM IST

Stocks to Watch

Infosys, Adani Ports, HDFC Bank, Marico and realty sector stocks could be in the news today. (Read here)

06 Apr 2021, 07:53:34 AM IST

Crypto market cap surges to record $2 tn, bitcoin at $1.1 tn

The cryptocurrency market capitalization hit an all-time peak of $2 trillion, according to data and market trackers CoinGecko and Blockfolio, as gains over the last several months attracted demand from both institutional and retail investors.

Soon, the crypto market cap was at $2.02 trillion.

The surge was led by bitcoin, which hit its own milestone by holding at a $1 trillion market cap for one week. Bitcoin was last up 1.4% at $59,045. Since hitting a lifetime peak of more than $61,000 in mid-March, bitcoin has traded in a relatively narrow range. (Reuters)

06 Apr 2021, 07:42:02 AM IST

Indian refiners deepen cuts to Saudi oil purchases in May

Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three people familiar with the matter said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week.

Energy relations between India, the world's third biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked.

New Delhi blames cuts by the Saudis and other oil producers for driving up crude prices as its economy tries to recover from the pandemic.

State-run refiners have placed orders to buy 9.5 million barrels of Saudi oil in May, compared with the previously planned 10.8 million barrels, three sources said. (Reuters)

06 Apr 2021, 07:31:10 AM IST

Asian markets witness mixed opening

Asian stocks opened mixed Tuesday even as U.S. equities rallied to a record on solid economic data that added to evidence of a strengthening recovery. The dollar and crude oil held losses. Japan’s benchmark dipped, while stocks rose in Australia and South Korea. S&P 500 futures fluctuated as investors assessed the economic outlook and any lingering impact from the Archegos Capital Management blowup. Treasury yields were steady after dipping. Oil held onto most of its decline amid growing delays in Europe’s reopening and looming Iranian supply.

SGX Nifty was at 14,721.50, down 3.75 points or 0.03% at 7:24 am IST.

S&P 500 futures were little changed as of 9:12 a.m. in Tokyo. The S&P 500 rose 1.4%. Nasdaq 100 futures gained 0.2%.

Topix index fell 0.1%.

Australia’s S&P/ASX 200 Index rose 1%.

Kospi index rose 0.4%

06 Apr 2021, 07:31:08 AM IST

Wall Street benchmark indices close at all-time highs over strong economic data

A string of surprisingly robust economic data boosted investor risk appetite on Monday, which sent the S&P 500 and the Dow to all-time closing highs and boosted cryptocurrency market cap over the $2 trillion hurdle. Enthusiasm over the growing momentum of US economic recovery was boosted with the Institute for Supply Management’s nonmanufacturing PMI report, which showed the country’s pandemic-battered services sector expanded at a record pace in March. The Dow Jones Industrial Average rose 373.98 points, or 1.13%, to 33,527.19, the S&P 500 gained 58.04 points, or 1.44%, to 4,077.91 and the Nasdaq Composite added 225.49 points, or 1.67%, to 13,705.59. US Treasury yields dipped as investors consolidated their positions.

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