Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Monday as investors offloaded finance, utility and energy stocks amid escalating tensions in the Middle East and surging crude oil prices overseas.Investors stayed on the sidelines and refrained from taking big risks amid huge uncertainty due to the Israel-Hamas conflict, analysts said.The 30-share BSE Sensex fell 483.24 points or 0.73 per cent to settle at 65,512.39.
The Nifty declined 141.15 points or 0.72 per cent to end at 19,512.35.Only three Sensex stocks traded in the green, while the Nifty-50 saw its 43 stocks closing in the red.Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05 per cent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan.
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SRM Contractors IPO to list on NSE and BSE on April 03. The IPO was subscribed more than 86 times. The status of the allotment can be checked on the website of Bigshare Services as it was the registrar to the issue of SRM Contractors.
Here’ how you can check allotment:
Step 1
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Go to your browser and search for Bigshare Services
Step 2
Open the website of Bigshare Services and click on the IPO allotment status box on the left side of the screen.
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By VK Sharma
The Nifty touched an all-time high of 21,492 on Friday. The benchmark rose for the seventh week on the trot. During the calendar year, the Nifty has gained 18.51%, of which 14% has come only in the last seven weeks.
So where do we go from here?
The monthly chart of the Nifty gives a clear direction as to where we are headed in the long term — up. Since we are at an all-time high level, we will have to depend on the Fibonacci extensions for an answer. The chart shows you the swings in the Nifty, and the 100% Fibonacci extension of the moves gives us a target of 22,131, a level that we have spoken about in the past, in this column. That target is not the last word. It is a mere number on the road ahead.
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The shares of Tata Steel plunged over 4% in the early trading session on Thursday, after the company reported a 64% dip in net profit year-on-year in Q4FY24 on Wednesday. The share price of Tata Steel slipped 4.27%, reaching an intra-day low of Rs 166.80 on the NSE.
On Wednesday, Tata Steel reported a 64% decline in consolidated net profit to Rs 611 crore for the quarter ended March 2024, compared to Rs 1,705 crore in the same quarter the previous year. This profit figure fell short of D-Street’s Rs 991-crore estimates.
Revenue from operations for the reporting quarter also dropped by 7% year-on-year to Rs 58,687 crore.
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Stocks in Focus: GIFT Nifty traded down 14.5 points, or 0.08%, at 19,309.5, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously on Monday, the NSE Nifty 50 tanked 260.90 points or 1.34% to settle at 19,281.75, while the BSE Sensex shed as much as 825.74 points to 64,571.88. The Bank Nifty index shed 571.85 points to settle at 43,151.20.
“Benchmark indices witnessed severe pounding in the last hour trades as simmering geo-political tension in the Middle-East region triggered a wave of selling pressure and prompted investors to offload equity holdings. Investors are already worried about further interest rate hike and inflation, and with the addition of the Israel-Hamas conflict, the uncertainty has increased further and leading to weak sentiment in global equities,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.
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Stocks in Focus: GIFT Nifty traded at 20,029 up 166 points or 0.84%, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gained 95 points or 0.48% to settle at 19,889.70, while the BSE Sensex jumped 204 points or 0.31% to 66,174.21.
“After last week’s range-bound trend, markets registered gains led by uptick in power, metal and auto stocks as hopes of strong growth momentum going ahead and receding worries of rate hikes in the US strengthened the mood. FIIs turning net buyers of local equities in the last few sessions too has brought some cheers to the market, even as caution could prevail in next few sessions ahead of monthly F&O expiry and exit poll results of five state elections later this week. Technically, Nifty could find support in the 19,797-19,689 range and resistance at 20,000-20,551,” said Prashanth Tapse, Senior VP (Research), Mehta Equities…
Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Tuesday’s trading session in the negative territory. The NSE Nifty 50 dropped 61.30 points or 0.32% to settle at 19,079.60, while the BSE Sensex plunged 237.72 points or 0.37% to 63,874.93. Broader indices ended largely in red, except the Midcap stocks and Nifty Next 50. The Bank Nifty index shed 193.20 points or 0.48% to settle at 42,845.95. Auto, Pharma, Metal, Private Bank and IT stocks ended lower among the other sectoral indices, while Realty, Media and PSU Bank stocks advanced. SBI Life Insurance Company, Titan Company, HDFC Life Insurance, Kotak Mahindra Bank and Asian Paints while the laggards included Sun Pharma, Mahindra & Mahindra, Eicher Motors, LTIMindtree and ONGC. The volatility index (India Vix) ended up 2.91%.
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