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Share Market Closing Note
Sensex, Nifty end flat; broader indices fall 1% as financials bleed:
After starting higher on Monday, lifted by healthy global cues, Indian equity markets ended flat amid selling in financial shares. READ MORE
The S&P BSE Sensex ended at 73,896, up 17 points or 0.02 per cent, while the Nifty50 closed at 22,443, down 33 points or 0.15 per cent.
In the broader markets, the BSE MidCap and SmallCap indices declined 0.95 per cent and 1 per cent, respectively.
The volatility gauge, India VIX, meanwhile, soared nearly 14 per cent.
Among sectors, the Nifty PSU Bank index shed 3.66 per cent, the Nifty Consumer Durables 2.5 per cent, and the Nifty Media 2.16 per cent. On the upside, the Nifty Realty index gained nearly 2.7 per cent.
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Topic :- Time:3.00 PM
Nifty spot if holds above 22440 level on closing basis then expect some pull back in the market in coming sessions and if it closes below above mentioned level then some sluggish move may follow. Avoid open positions for tomorrow.
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Topic :- Time:2.30 PM
CRUDEOIL Trading View:
CRUDEOIL is trading at 6600. If it manages to hold above 6575 level then expect it to test 6660 level quite soon and if it breaks and trade below 6575 level then some decline can follow in it. Buy on every dips till it holds above 6575 is recommended in it.
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Topic :- Time:2.25 PM
Just In:
Zen Technologies shares tumble to hit 5% lower circuit � Management expects revenue to double in FY25 .
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Topic :- Time:2.00 PM
Nifty is not showing good movement and giving less opportunities to day traders specially index options traders. Nifty spot if manages to trade and sustain above 22460 level then expect some upmove and if it breaks and trade below 22420 level then some decline can be seen in the market.
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Topic :- Time:1.30 PM
SILVER Trading View:
SILVER is trading at 82506. If it manages to trade and sustain above 82650 level then expect some upmove in it and if it breaks and trade below 82350 level then some decline can be seen in it.
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Topic :- Time:1.10 PM
Just In:
MC EXCLUSIVE Shapoorji Pallonji Group taps Power Finance Corp for $1.2 billion loan.
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Topic :- Time:1.00 PM
Nifty is trading in no trading zone with no movement right now. Traders are advised to wait for the right opportunity and trade as per market trend only.
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Topic :- Time:12.40 PM
Just In:
KKR buys Healthium from Apax Partners for ₹7,000 cr.
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Topic :- Time:12.30 PM
COPPER Trading View:
COPPER is trading at 863.80. If it manages to trade and sustain above 865 level then expect some more upmove in it and if it breaks and trade below 861 level then some decline can be seen in it.
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Topic :- Time:12.20 PM
In Mondays session, shares of PSU stocks experienced sharp declines, with some of them plummeting by as much as 13%.
This downward trend followed the Reserve Banks announcement on Friday proposing stricter regulations, governing lending to projects under implementation.
The RBI guidelines stipulate that a 5% general provision must be set aside for all existing and new project loans in the construction phase, i.e., before commercial operations commence. Once the project transitions to the operational phase, these provisions can be reduced to 2.5% of the funding outstanding and further to 1% under certain conditions.
These conditions include the project demonstrating a positive net operating cash flow adequate to cover current repayment obligations to all lenders, along with a minimum 20% decline in the projects total long-term debt with lenders from the outstanding amount at the time of achieving the Date of Commencement of Commercial Operations.
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Topic :- Time:12.00 PM
After positive start nifty is still trading in green zone however some intense profit booking was witnessed in PSU banks. Nifty spot if manages to trade and sustain above 22540 level then expect some upmove and if it breaks and trade below 22480 level then some decline can follow in it.
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Topic :- Time:11.45 AM
Just In:
Kotak Mahindra Bank shares jump 6% after multiple analyst upgrades post Q4.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Sensex, Nifty off days high; PSU Bank index tumbles over 3%
2. MC EXCLUSIVE Multi-billion-dollar Godrej family settlement wont attract tax
3. REC, PFC, IREDA shares fall up to 11% as RBI proposes tighter project finance rules
4. Paytm slumps 4% as president & COO Bhavesh Gupta resigns; Q4 results eyed
5. Tata Tech shares plunge 5% on subdued Q4 earnings
6. India services PMI falls to 60.8 in April from 61.2 in March
7. ED raid in Ranchi: Huge cash stash recovered from Jharkhand minister aides home
8. Coforges Cigniti acquisition faces valid scepticism
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 06 May,2024:
Nifty is likely to follow global cues and is expected to turn volatile as the day progresses. Downside is limited and should be used as an opportunity to go long. Banking sector is further expected to lead the rally.
Nifty spot if manages to trade and sustain above 22520 level then expect some upmove and if it breaks and trade below 22420 level then some decline can further follow in the market.
Please note this is just opening view and should not be considered as the view for the whole day.