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Business News/ Markets / Live Blog/  Sensex closes 342 pts higher, Nifty at 14,399; banks, financials, metals gain
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Sensex closes 342 pts higher, Nifty at 14,399; banks, financials, metals gain

Market closing: The Sensex was at 48,080.67, up 374.87 points, or 0.79%, while the Nifty was at 14,406.15, up 109.75 points, or 0.77% on Thursday. FMCG, IT stocks were top drags

Market closing: The Sensex and Nifty climbed nearly 1% on Thursday. (PTI)Premium
Market closing: The Sensex and Nifty climbed nearly 1% on Thursday. (PTI)

Benchmark Indian equity indices closed nearly 1% higher on Thursday. Asian markets clawed back the week's losses on Thursday after Wall Street overnight broke a two-day dip that had been sparked by covid-19 jitters and valuation fears.

22 Apr 2021, 03:45:59 PM IST

Market closing

The Sensex closed at 48,080.67, up 374.87 points, or 0.79%, while the Nifty was at 14,406.15, up 109.75, or 0.77%. Among broader indices, both the BSE midcap and smallcap indices closed 0.29% and 0.49% higher. The Nifty midcap100 and smallcap100 closed 0.46% and 0.85% higher, respectively. FMCG, IT and pharma sectors closed lower on Tuesday. On the 30-share Sensex, ICICI Bank, HDFC Ltd, Bajaj Auto, and 15 other stocks closed in green on Thursday, while Titan, Tech Mahindra, Asian Paints, and nine other stocks closed in red.

Sensex at close
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Sensex at close
22 Apr 2021, 03:24:19 PM IST

Anand Rathi Shares & Stock Brokers, head- Equity Research (Fundamental), Narendra Solanki on market performance.

"Indian markets opened on a positive note tracking positive Asian market peers. During the afternoon session markets continued to trade positive as the country's exports are reviving and the shipments are expected to be in the solid positive territory in this financial year. However, markets are worried on fears that restrictions on movement extending beyond the bigger cities as cases continue to rise may hamper nascent economic recovery."

22 Apr 2021, 03:19:26 PM IST

ICICI Bank, HDFC twins drive Sensex gains

Index contribution
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Index contribution
22 Apr 2021, 03:09:00 PM IST

Tata Steel takes Liberty Steel to court in UK over ‘missed payments’

Indian steel major Tata Steel has filed a commercial court claim in the UK against British Indian steel tycoon Sanjeev Gupta led GFG Alliance, which owns Liberty Steel, over alleged missed payments from an acquisition dating back to 2017. (Read more)

22 Apr 2021, 02:54:04 PM IST

IBA asks SLBCs to decide on functioning of banks based on local situation

In order to ensure safety of bankers, Indian Banks' Association (IBA) has asked State Level Bankers' Committee (SLBC) convener to modify the Standard Operating Procedures (SOPs) as per the prevailing COVID-19 situation and needs in respective states.

The decision to this effect was taken in a special Managing Committee meeting organised on April 21, 2021. (PTI)

22 Apr 2021, 02:49:44 PM IST

Pfizer offers to supply mRNA vaccine at “not-for-profit” price in India

Pfizer has offered to supply its messenger RNA (mRNA) vaccine to the Indian government at a “not-for-profit" price as part of its strategy to provide distinct prices for the vaccine based on the economic profile of the country. (Read here)

22 Apr 2021, 02:40:00 PM IST

Ola Plans to Build World’s Largest Scooter-Charging Network in India

Ola Electric Mobility Pvt plans to build a nationwide charging network for the electric scooters set to start rolling out from its massive Bangalore factory this summer. The Ola Hypercharger Network will be the world’s largest, densest two-wheeler charging system, comprising 100,000 high-speed charging points in more than 400 Indian cities, Ola said Thursday in a statement. In the first year, the startup will set up 5,000 of the points in 100 cities, doubling such infrastructure in the country. Its scooters will also be bundled with a home-charging kit. (Bloomberg)

22 Apr 2021, 02:22:26 PM IST

Debt restructuring plan of Future Retail, Future Enterprises gets Kamath panel's nod

The debt restructuring of the two Future Group flagship companies -- Future Retail and Future Enterprises -- has received approval from the RBI-constituted expert panel headed by K V Kamath, according to an industry source.

The Expert Committee under the chairmanship of veteran banker K V Kamath has approved the debt resolution plan as permitted under the Reserve Bank of India's resolution Framework for COVID 19-related stress, said the source.

According to him, debt resolution plans for two more Kishore Biyani-led Future Group companies—Future Consumers and Future Lifestyle—are also expected to be cleared by the consortium of lenders. (PTI)

22 Apr 2021, 02:06:19 PM IST

ICICI Bank, HDFC twins drive Sensex gains

Index contribution
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Index contribution
22 Apr 2021, 01:42:03 PM IST

Indiabulls Housing Finance jumps 12% after tie-up with HDFC

Shares of Indiabulls Housing Finance jumped 12.4% after the company announced a strategic co-lending partnership with HDFC Ltd offering housing loans at competitive rates. (Read here)

22 Apr 2021, 01:33:26 PM IST

Ten states account for over 75% of new covid-19 cases

Maharashtra, Uttar Pradesh, Delhi, and Gujarat are among 10 states that account for over 75 per cent of the 3,14,835 new COVID-19 cases registered in a day, the Union Health Ministry said on Thursday.

The number of coronavirus cases in India hit a record daily high with over 3.14 lakh new infections being reported in a span of 24 hours pushing India's total tally of COVID-19 cases to 1,59,30,965, according to the ministry data updated in the morning.

The other states in the list of 10 are Karnataka, Kerala, Chhattisgarh, Madhya Pradesh, Bihar, and Rajasthan. (PTI)

22 Apr 2021, 01:23:05 PM IST

SpiceJet outsources part of groundhandling ops at Mumbai airport to CelebiNAS Airport Services

Budget carrier SpiceJet has outsourced part of its groundhandling operations at Mumbai airport to CelebiNAS Airport Services amid increasing financial woes for domestic airlines in the wake of the second wave of the covid-19 pandemic, which has adversely impacted travel demand, sources said.

According to the sources, the Gurugram-based airline has informed the loaders and drivers that they will no longer be on its payroll from next month and they should appear for interviews at CelebiNAS Airport Services India from April 26 onwards. (PTI)

22 Apr 2021, 01:18:55 PM IST

Working closely with SIAM to enhance localisation in auto component sector: ACMA

Auto component industry and SIAM are working closely to enhance localisation of various products in order to make the industry price competitive globally, ACMA President Deepak Jain said on Thursday.

Speaking at the inaugural session of two day industry event ACMA Automechanika, he noted that the initiative would also help the industry to reduce imports of sub standards components. (PTI)

22 Apr 2021, 01:11:08 PM IST

FMCG sector trails

BSE FMCG index
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BSE FMCG index
22 Apr 2021, 12:45:02 PM IST

Subex launches augmented analytics platform HyperSense

Analytics solutions provider Subex Ltd on Thursday launched HyperSense, an end-to-end augmented analytics platform, to help enterprises make faster and better decisions by leveraging artificial intelligence (AI) across the data value chain. (Read here)

22 Apr 2021, 12:29:34 PM IST

Top gainers at this hour

Nifty top gainers
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Nifty top gainers
22 Apr 2021, 12:17:06 PM IST

ICICI Bank gains; HUL drags

Index contribution
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Index contribution
22 Apr 2021, 12:02:05 PM IST

Sensex heatmap

Sensex at noon
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Sensex at noon
22 Apr 2021, 11:47:04 AM IST

ICICI Securities shares jump over 6 pc after strong Q4 earnings

Shares of ICICI Securities jumped 6.5% in morning trade on Thursday after the company reported an over two-fold increase in profit after tax (PAT) for the three months ended March 2021.

The stock gained 6.51% to 451.80 on the BSE.

At the NSE, it jumped 6.45% to 452.

ICICI Securities on Wednesday reported an over two-fold increase in PAT to 329 crore for the three months ended March 2021, on account of growth in revenue and improvement in margins. (PTI)

22 Apr 2021, 11:35:02 AM IST

Online MF platforms may find it harder to advise after Sebi guidelines

A guidance note issued by the Securities and Exchange Board of India (Sebi) to Paytm Money clarifies the regulator’s position on the ability of online mutual fund platforms offering direct mutual funds to provide advice. Such platforms, including Paytm Money, are typically registered with Sebi as investment advisors. (Read here)

22 Apr 2021, 11:20:55 AM IST

Metals shine

Nifty sectoral
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Nifty sectoral
22 Apr 2021, 11:14:28 AM IST

RBL Bank cuts loan rates by 25-35 bps across tenors effective today

22 Apr 2021, 10:55:35 AM IST

Rupee slips below 75 per USD level in early trade

22 Apr 2021, 10:46:39 AM IST

Sunteck Realty's sales bookings drop 16% in FY21

Sunteck Realty Ltd on Wednesday reported 16% decline in its sales bookings at 1,022 crore during the last fiscal year.

The company had clocked sales bookings of 1,221 crore in FY20.

Sunteck achieved lower sales bookings in the first six months of the 2020-21 at 301 crore. The second half of last fiscal contributed 720 crore to the overall sales bookings number. In a regulatory filing, the Mumbai-based developer said the collection from customers increased to 780 crore in 2020-21 fiscal from 715 crore in the previous year. (PTI)

22 Apr 2021, 10:35:39 AM IST

Deen Dayal Investments proprietary index trader and technical analyst Manish Hathiramani on Nifty open

"The 14,200 level has been threatened again this morning. If we break today's low which is around 14,130, we should enter a bear phase and head towards 13,800-13,900. On the upside, the resistance is at 14,550. Until we do not get past that, the bias is on the downside."

22 Apr 2021, 10:32:19 AM IST

Easy Trip Planners, JustDial collaborate to provide travel services

Easy Trip Planners Ltd (EaseMyTrip) and JustDial have decided to collaborate to provide air travel services. Under the arrangement, EaseMyTrip will be the exclusive service provider for all flight bookings at JustDial. The partnership entails direct API integration of EaseMyTrip with Justdial where real time bookings are executed, Easy Trip Planners said in a regulatory filing.

22 Apr 2021, 10:25:44 AM IST

L&T Construction secures significant contract in Saudi Arabia

L&T Construction’s buildings and factories business has secured a significant contract, worth around 1,000-2,500 crore, from Oilfields Supply Company Saudi owned by the Dubai based Oilfields Supply Center Ltd to design and build one of the World's largest oil and gas supply bases at King Salman Energy Park, Dammam, Kingdom of Saudi Arabia. The project involves constructing industrial facilities of different sizes, an administration building, ancillary buildings, associated infrastructure and storage yards along with civil, structural, MEP and architectural works. The project is scheduled to be completed in 30 months, L&T said in a regulatory filing

22 Apr 2021, 10:04:39 AM IST

Apple plans to expands ads business: report

Apple Inc will expand its advertising business, the Financial Times reported on Thursday, citing two people familiar with its plans. The iPhone maker is planning to add a second advertising slot, in the "suggested" apps section in its App Store search page, according to the report. (Reuters)

22 Apr 2021, 09:59:16 AM IST

Indian stock markets fall at open as covid cases continue to climb

Indian markets on Thursday opened nearly 1% lower after the Maharashtra government announced more strict restrictions amid continued surging covid infection cases.

At 9.30am, the benchmark Sensex fell 1% to 47333 points while Nifty dropped 0.9% to 14200 points.

India reported nearly 3.16 lakh fresh cases on Wednesday, the highest single-day count recorded in any country so far. Deaths from the virus climbed to another high of 2,102 in the past 24 hours.

Maharashtra will on Thursday implement the fresh restrictions imposed in view of the rising coronavirus disease (Covid-19) cases in the state. The restrictions, that will be in place till May 1, were imposed amid the projection by the health department of active cases rising over 1.1 million by May 2. (Read here)

22 Apr 2021, 09:48:12 AM IST

India reports 3,14,835 new #COVID19 cases

22 Apr 2021, 09:39:27 AM IST

Gold prices today fall, a day after hitting 2-month high, silver rates drop

Gold and silver prices edged lower today in Indian markets after the recent surge. On MCX, gold futures were down 0.07% to 48,195 per 10 gram while silver slipped 0.04% to 70,310. In the previous session, gold had risen 0.72% to two-month high of 48,200 while silver had surged 2.3% or 1615 per kg. On MCX, gold has support at 46,200 and resistance at 48,240, say analysts.

22 Apr 2021, 09:25:08 AM IST

Market opening

The Sensex opened at 47,382.55, down 323.25 points or 0.68%, while the Nifty was at 14,219.15, down 77.25 points, or 0.54% on Thursday. Most sectors, except metals and pharma, opened in red. Sun Pharma, Power Grid, Dr Reddy, and five other stocks open in green on the 30 share Sensex , while the other stocks opened in red.

Sensex at open
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Sensex at open
22 Apr 2021, 09:04:45 AM IST

Market pre-opening

The Sensex was at 47,690.25, down 15.55 points, or 0.03% at markets pre-open, while the Nifty was at 14,296.40, down 63.05 points, or 0.44%. The markets were closed on Wednesday.

22 Apr 2021, 08:57:20 AM IST

Rupee fall is hurting bonds now among Asia’s worst: India Credit

A slide in the rupee is exacerbating a slump in Indian corporate dollar notes that are now among the worst performers in Asia, just as concerns mount that companies are hedging less. The securities have lost about 0.1% in April, worse than a 0.4% gain for a broader Asian dollar bond gauge, according to a Bloomberg Barclays indexes. All the other countries in Asia have posted positive returns, except China which lost about 0.4% after the stumble by China Huarong Asset Management Co. (Bloomberg)

22 Apr 2021, 08:46:46 AM IST

Apple accused of ‘Power Grab’ in senate app store hearing

Music-streaming service Spotify Technology SA and Match Group Inc., which operates online dating apps, accused Apple Inc. of squeezing software developers that depend on its App Store to reach customers by extracting monopoly profits and squashing competition.

Executives from the two companies, along with Tile Inc., which makes a tracking device for consumers, urged lawmakers at a Senate hearing to tackle the dominance of Apple and Google over the digital marketplaces where users download apps. (Bloomberg)

22 Apr 2021, 08:33:49 AM IST

Fintech Revolut to hire 300 for India support hub

Revolut will hire 300 staff for its subsidiary in India and make a multi-million pound investment there as part of its global expansion, the British-based digital bank app said on Thursday.

The company also appointed Paroma Chatterjee, a former executive at Lendingkart and Via.com among other companies, as its chief executive in India, Revolut said.

Revolut is hiring in human resources, finance, growth, marketing and other functions as it bases support for its global operations from its Indian subsidiary, it said. (Reuters)

22 Apr 2021, 08:24:49 AM IST

Stocks to Watch

DCB Bank, Nestlé, Future Retail, KEC International, SBI, among other stocks, will be in the news today. (Read here)

22 Apr 2021, 08:08:42 AM IST

Market outlook

Markets are likely to be rangebound on Thursday following global cues while trends in SGX Nifty suggest a marginally higher opening of Indian benchmark indices. However, tight restrictions in mobility in many states amid escalating covid cases may keep investors cautious. Markets were shut for trading on Wednesday. (Read here)

22 Apr 2021, 07:57:53 AM IST

Oil falls third day on US stock build, surging covid-19 cases

Oil prices fell for a third day on Thursday as a surprise build in US crude inventories and a resurgence of covid-19 cases in India and Japan raised concerns that a recovery in global economy and fuel demand may slow.

Brent crude futures fell 57 cents, or 0.9%, to $64.75 a barrel by 0157 GMT, following a drop of $1.25 on Wednesday. US West Texas Intermediate (WTI) crude futures were down 58 cents, or 1.0%, at $60.77 a barrel, after losing $1.32 on Wednesday.

Both contracts dropped more than 2% on Wednesday. (Reuters)

22 Apr 2021, 07:40:26 AM IST

Asian markets witness strong start

Asia stocks bounced after US equities snapped a two-day drop on a rally in companies that stand to benefit the most from an economic revival. The dollar stabilized. Japan outperformed, while Australia, South Korea and China had more modest gains. US futures edged lower. Earlier, most major groups in the S&P 500 rose, with raw-material, energy and financial shares leading the charge. The Russell 2000 Index, a gauge of small caps, climbed more than 2%, outperforming major benchmarks.

SGX Nifty was at 14,188.80, up 37.25 points or 0.26% at 7:21 am on Thursday.

S&P 500 futures fell 0.2% as of 10:34 a.m. in Tokyo. The S&P 500 climbed 0.9%.

Topix index rose 1.4%.

Australia’s S&P/ASX 200 Index added 0.1%.

Kospi index rose 0.5%.

Shanghai Composite rose 0.1%.

22 Apr 2021, 07:30:28 AM IST

Wall Street indices close higher

Stocks snapped a two-day drop as dip buyers emerged, fueling a rally in companies that stand to benefit the most from an economic revival.

The S&P 500 rose 38.48 points to 4,173.42. The Dow Jones Industrial Average gained 316.01 points, or 0.9%, to 34,137.31. Both the S&P 500 and Dow hit all-time highs. The technology-heavy Nasdaq added 163.95 points, or 1.2%, to 13,950.22.

The Russell 2000 index of smaller company stocks, which has been outpacing the broader market all year, led the way higher, climbing 51.42 points, or 2.3%, to 2,239.63.

The yield on the 10-year Treasury held steady at 1.56%.

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