...

Stock Market Recap: Heavy Losses End Four-Day Winning Streak.

A four-day streak of gains has come to an end. Domestic stock markets ended with heavy losses on Friday. Bajaj Finance, LT and ICICI Bank have contributed to this. No positive signals were received from Asian and international markets. A rise in the US core PCE index, lower than expected GDP growth and a sudden rise in Treasury yields contributed to the negative sentiment. Due to this, investors started selling. It is noteworthy that the results of some companies did not meet the expectations. BSE market breadth is in favor of buyers. 2016 shares increased and 1766 decreased. The rupee weakened by 2 paise to settle at 83.35 against the dollar.

The BSE Sensex, which closed at 74,339 in the previous session, opened at 74,509 today. It touched an intraday high of 74,515. It gradually fell and touched an intraday low of 73,616. A total loss of 609 points ended at 73,730. The NSE Nifty, which opened at 22,620 on Friday, touched a high of 22,620 and a low of 22,385. It eventually fell 150 points to close at 22,419. Bank Nifty lost 293 points to settle at 48,201.

In Nifty50, 17 companies gained while 33 lost. Tech Mahindra, Divis Lab, LTI Mindtree, Bajaj Auto, BPCL were the top gainers. Bajaj Finance, Bajaj Fin Serv, Indus Ind Bank, Nestlé India, SBI Life are the top losers. Today consumer durables, healthcare, oil and gas, realty, pharma and IT indices jumped. Bank, Auto, Finance, Metal, PSU Bank and Private Bank indices rose.

Nifty support is at 22500 and resistance is at 22700. Investors can buy shares of Havells, Colgate Palmolive, Axis Bank, GMR Infra, Engineers India in the short term.

Ajanta Pharma’s board will consider the share buyback proposal on May 2. Motilal Oswal Q4 results released. The company’s revenue increased by 136 percent. From Rs.631 crores to Rs.1490 crores. Net profit rose from Rs.89 crores to Rs.516 crores. CSB Bank’s net interest income is Rs.386 crores. Profit decreased from Rs.156 crores to Rs.151 crores. Shriram Finance’s total revenue grew by 22.25 percent. Bajaj Finserv’s revenue jumped 35.62 percent. It has increased from Rs.23,625 crore to Rs.32,042 crore on an annual basis. Shares of KPI Green Energy fell 5 percent despite better results

Leave a Reply

Your email address will not be published. Required fields are marked *

Seraphinite AcceleratorOptimized by Seraphinite Accelerator
Turns on site high speed to be attractive for people and search engines.