Ajit Mishra, VP - Research, Religare Broking

Markets ended marginally in the green, taking a breather after the recent rebound. The benchmark opened flat and remained range-bound till the end however movement on the broader front kept the participants busy. Surprisingly, markets are showing tremendous resilience despite the rising COVID cases but sustainability at higher levels seems difficult if this trend continues. Besides, earnings season also holds equal importance and any negative surprise may again derail the recovery. Over the weekend, the HDFC Bank result will announce its numbers and the focus will be on management commentary and growth outlook. On the benchmark front, Nifty has an immediate hurdle at 14,700 and a decisive break will pave the way for further rebound else profit taking would resume so plan your positions accordingly.

Apr 16, 2021 4:19 PM

Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services

Even this week, there has been a lot of chaos in the forex market. Traders were waiting for RBI to set the upper limit, which is 75.30-75.35, from where the USDINR spot reversed its uptrend. Due to the rising coronavirus cases in India, the outlook for the rupee still looks to be gloomy. But the weakness in the dollar and Fed’s willingness to tolerate more inflation will keep the USDINR spot lower and we expect it to trade in between 74-75.50 next week. Meanwhile, gold witnessed some profit booking due to appreciation in the rupee. Today’s selling doesn’t negate the bullish view on gold. Until the MCX GOLD price trades above Rs 45,000, the uptrend will continue towards Rs 47,500 and then at Rs 48,850.

Apr 16, 2021 3:59 PM

Rupee Close | Indian rupee ended near the day's high at 74.35 per dollar on Friday, amid buying in the domestic equity market. The local currency opened higher by 13 paise at 74.79 per dollar against Thursday's close of 74.92 and traded in the range of 74.28-74.79.

Apr 16, 2021 3:58 PM

Apr 16, 2021 3:55 PM

Apr 16, 2021 3:54 PM

Apr 16, 2021 3:54 PM

Here are key stocks that moved the most on April 16

The Sensex ended 28 points higher at 48,832 while the Nifty rose 36 points to settle at 14,618.Get latest Market online at cnbctv18.com

Apr 16, 2021 3:42 PM

Market This Week

- Market Slips For 2nd Straight Week; Sensex, Nifty Down Over 1% Each

- Midcap Index Falls 3% & Nifty Bank More Than 1%

- Expect Pharma, All Sectoral Indices Give Negative Returns This Week

- Adani Ports, IndusInd, Infosys, Grasim, Bajaj Fin Top Nifty Losers

- Cipla, M&M, Wipro, ONGC, Dr Reddy’s Top Nifty Gainers

Apr 16, 2021 3:42 PM

Market At Close

- Sensex & Nifty Close Flat As Financials Heavyweights Drag Market

- ICICI Bank Drags Nifty By 13 Points & Nifty Bank By 104 Points

- Market Breadth Favours Advances With Midcap Index Gaining 1%

- Nifty Closes 36 Pts Higher At 14,618 & Sensex 28 Pts Higher At 48,832

- Nifty Bank Slips 135 Pts To 31,977 While Midcap Index Rises 231 Pts To 23,761

- Wipro Surges 9% On Better-than-expected Earnings & Strong Guidance

- Pharma Stocks Continue To Move Higher; Glenmark, Aurobindo Top Gainers

- Cadila Rises 4% On Rpts Of Co’s Plan To Launch COVID Vaccine In June

- Alcoa’s Strong Earning In Q1CY21 Boost Hindalco & Vedanta

Apr 16, 2021 3:41 PM

Closing Bell | Indian equity indices gave up gains to end Friday's volatile session marginally higher. The Sensex ended 28.35 points, or 0.06 percent higher at 48,832.03, while the Nifty gained 36.40 points, or 0.25 percent to close at 14,617.85. Broader markets outperformed the benchmarks as the midcap and smallcap indices ended 1 percent higher each.

Among sectors, gains were seen in pharma, IT, metals, auto and FMCG indices, while Nifty Bank and Nifty Realty indices ended in the red. Wipro, Hindalco Industries, Cipla, Asian Paints and UltraTech Cement were the top Nifty50 gainers, while JSW Steel, ICICI Bank, Bajaj Finance, L&T and Tata Steel were the top index losers.

Apr 16, 2021 3:40 PM

Kotak Mahindra Bank seen among potential suitors for Citi's retail business

Citibank India’s consumer banking business is up for grabs, with the global giant announcing its decision to exit India's retail operations. According to a note by Credit Suisse, Kotak Mahindra Bank may be a key contender to buy out Citi’s retail operations, including the high-margin cards business. Ashish Gupta, Head of Research at Credit Suisse wrote in a note that Citi’s retail business may add about 6 to 10 percent to the retail book of larger private banks in India. He also said that it may add about 5 to 8 percent to the customer base of the larger private banks. Given that the global giant in primarily focused on the affluent segment, even this relatively small business may be of interest to several banks. When Royal Bank of Scotland exited India, it had similarly sold its business to RBL Bank. Read here.

Apr 16, 2021 3:21 PM

World stocks at record high, oil up on strong China, US data

Global stocks hit a record high on Friday and oil climbed after strong US and Chinese economic data bolstered expectations of a solid global recovery from the coronavirus-induced slump. Government stimulus, a string of strong corporate earnings releases and the signs of economic recovery in countries ahead in the COVID-19 vaccination race have all helped push stock markets onto new heights in recent days. MSCI's broadest gauge of world stocks edged higher in early European trade, up 0.1 percent to a record high. Europe's top indexes all opened higher, led by Britain's FTSE 100, up 0.5 percent and passing 7,000 points for the first time since February 2020. Read more.

Apr 16, 2021 3:12 PM

Q4 Portfolio changes: Rakesh Jhunjhunwala cuts stake in 3 firms, adds in 1; Check out

Along with Titan, Jhunjhunwala also decreased his stake in VIP Industries and Tata Communications while added shares of Fortis Healthcare.Get latest Market online at cnbctv18.com

Apr 16, 2021 3:03 PM

CLSA downgrades Nestle India to Outperform as it sees limited upside potential

CLSA has downgraded its rating on Nestle India to Outperform from Buy as it sees limited upside potential for the stock. It has, however, maintained its estimates and a target price of Rs 19,250 per share. The global brokerage firm said that Nestle's CY20 annual report highlighted the initiatives the company undertook to protect and strengthen its ecosystem while highlighting its continued focus on innovation and a new product pipeline. In CY20, Nestle prioritised its employees with higher incentives (employee cost up 19 percent YoY), CLSA noted. "We turned positive on Nestle recently based on the directional change it is taking in terms of expanding the target consumer base through a greater push in rural markets and shedding its image as an urban-centric company," CLSA said. The brokerage said it continues to like the initiatives, given limited upside potential and downgraded the stock to Outperform from Buy.

Apr 16, 2021 2:59 PM

Nish Bhatt, Founder & CEO, Millwood Kane International

The rise in the number of COVID19 cases, fear of the next wave coupled with rising inflation in the US, lower yields, weak US Dollar, and the QE program by the US government has also provided strength to the gold prices. The current situation of rising cases threatens to derail the economic recovery in Q1, create uncertainties. The situation may lead to elevated gold prices in the short term till the situation stabilizes. The retail demand in India has been rising due to festive season buying has also provided support to gold prices. A pick-up in global economic activity will lead to subdued gold prices, but the risk of the second wave, uncertainty remains which may guide gold prices in the longer term.

Apr 16, 2021 2:50 PM

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