Sensex, Nifty End Volatile Session With Modest Losses
The National Stock Exchange of India building at Bandra Kurla Complex, Mumbai. (Source: NSE’s verified twitter handle)

Sensex, Nifty End Volatile Session With Modest Losses

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Markets At Close

  • Benchmarks end with losses in a volatile session
  • Nifty ends 0.5 percent lower at 8,748
  • Nifty futures end at a premium of 7 points
  • Sensex ends 0.6 percent lower at 29,893
  • Nifty Bank ends 0.6 percent lower at 18,946
  • Broader Markets outperform
  • Nifty Midcap and Smallcap indices end with gains of 1.8 percent each
  • India Volatility Index up 1.2 percent at 52.42
  • Nifty I.T., Metal, PSU Bank and Realty index end with losses
  • Nifty Auto, Media, FMCG and Pharma end with gains
  • Vedanta ends as top Nifty gainer, up 5.5 percent
  • Shree Cement ends as top Nifty loser, down 3.8 percent
  • 1,221 stocks advanced while 596 ended with losses

Stocks That Dragged The Nifty Lower

Closing Bell: Market Rally Stalls On Volatile Day

Indian equity markets ended with modest losses after fluctuating for most parts of the trading day.

The S&P BSE Sensex fell over 1,300 points from the day’s high to end at 29,893, down 0.6 percent. 15 out of the 30 index constituents ended with gains.

The NSE Nifty 50 index ended 0.5 percent lower at 8,748, down almost 400 points from the day’s high. Pharma stocks led the gains while Tata group stocks like TCS and Titan were among the top laggards.

Among sectoral indices, Nifty Realty index was the top loser, ending with losses of close to 2 percent.

1,221 stocks ended the trading day with gains while 596 stocks ended with losses.

Stock Update: Oberoi Realty

  • Trades at lowest level since January 2017
  • Down for 8 out of last 10 trading sessions
  • Falls 25 percent in the last 10 sessions
  • Volumes are 0.7 times higher than its 30-day average
  • Relative Strength Index at 10. RSI below 30 indicates stock is oversold
  • 20 out of the 26 analysts tracking the stock have a buy recommendation
  • Return potential for the stock as per Bloomberg data is 86.3 percent
  • Down 52 percent from 52-week high of Rs 641 in July 2019

Adani Gas To Cut Gas Prices

Adani Gas Ltd. will cut CNG and domestic PNG prices starting April 9, as per Bloomberg.

The company will cut CNG prices by Rs 2.25 to Rs 3.60 per kilogram across locations.

Shares fell as much as 3.8 percent to Rs 90.45, snapping a four-day gaining streak.

Trading Ideas From Manav Chopra Of Indiabulls Ventures

  • Buy Divis Laboratories for target of Rs 2,400 and stop loss of Rs 2,100
  • Buy Tata Motors for target of Rs 80 and stop loss of Rs 64
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