Sensex, Nifty End A Volatile Session On A Subdued Note

• Benchmark indices end rangebound, volatile session on a subdued note
• Nifty ends 5 points lower at 9,261
• Sensex ends 0.19 percent higher at 31,648
• Nifty Bank ends 0.8 percent lower at 20,522
• Nifty Midcap Index ends 0.45 percent higher
• Nifty Smallcap Index ends 0.3 percent higher
• India Volatility Index ends 1.74 percent higher at 43.33
• Nifty Metal top sectoral laggard; down 3.2 percent
• Nifty PSU Bank top sectoral gainer; ends 4.2 percent higher
• Nifty Auto (Down 1.7 percent), Nifty FMCG (Down 1.9 percent) among other laggards
• Tata Motors ends as top Nifty gainer; up 4.2 percent
• Hindalco ends as the top Nifty laggard; down 5.6 percent
• 1,150 stocks end the day with gains while 683 decline

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.55 percent to 9,258 as of 7:00 a.m.

Asian markets are mixed on Thursday morning as a busy earnings week adds fresh triggers to the Covid-19 updates across the globe. Japanese and Australian markets trade weak while those in South Korea are gaining. Oil prices have dropped to their lowest since 2001 while the U.S. Dollar recouped some of its losses from Friday.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.

• Benchmark indices post their second straight weekly gain
• S&P 500 ended with gains of 2.7 percent
• EPFR Global highlighted investor preference for money-market funds. AUMs under this category swelled to $4.5 trillion following seven week of inflows.
• Ford Motor reports one of its highest ever quarterly losses
• Shares of Apple fell after Goldman Sachs recommended selling their shares

• Buy L&T for target of Rs 1,030 and stop loss of Rs 870
• Buy Chola Finance for target of Rs 198 and stop loss of Rs 163

• Buy ICICI Bank for target of Rs 410 and stop loss of Rs 365
• Buy Dr Reddy's for target of Rs 4,050 and stop loss of Rs 3,850
• Buy Sudarshan Chemicals for target of Rs 450 and stop loss of Rs 405

• Cases across the globe cross 2.4 million
• Death toll rises to 1.65 lakh
• Singapore has the most number of cases in South-East Asia
• Cases in Japan surpass the 10,000 mark
• World Health Organisation says relaxing of social restrictions does not mean the end of the epidemic
• China reports 12 new cases and no deaths
• Total number of cases in India rise to 17,615, as per the ICMR with death toll rising to 543

Indian equity markets began the new trading week on a positive note led by heavyweight financials. Asian markets remain mixed while futures in the U.S. trade with modest losses.

The S&P BSE Sensex opened 1.5 percent higher at 32,058 while the NSE Nifty 50 index opened 1.3 percent higher at 9,390. Majority of the constituents on both the indices opened with gains.

Last week saw both markets post their second straight weekly advance, the first such instance in two months.

All sectoral indices opened with gains, led by the Nifty Bank index which gained 2 percent courtesy gains in HDFC Bank.

1,388 stocks have opened with gains while 439 saw declines in opening trade.

The bank informed the stock exchanges on Sunday that it will consider raising equity capital through private placement, FPO, QIP or through any combination at its board meeting on April 22.

The capital raising will be subject to regulatory and shareholder approval.

Shares gained as much as 3.22 percent to Rs 1,224.5 and are up for the second straight day.

The company informed the exchanges that the Power Transmission and Distribution business won an order to modernise the power distribution network in a subdivision of the Bengaluru Metropolitan area zone.

The business has also bagged orders to establish 220kV, 132kV substations and 132kV cable networks in India, Middle East and Africa, as per the press release.

The company also informed of additional orders being received in ongoing substation, transmission line and renewable energy jobs in India.

The Bengaluru order falls under the 'significant' category, valued between Rs 1,000 crore - Rs 2,500 crore.

Shares recovered from the day's low and now trade flat at Rs 935.65. The stock is up for the ninth day in a row, its longest gaining streak since November 2014.

The pharma player's API manufacturing site located in Raichur was given the Establishment Inspection Report (EIR) from the U.S. FDA.

The inspection at the site was conducted between February 3-7, 2020. The inspection classification of this facility was No Action Indicated (NAI).

Shares were locked in an upper circuit of 5 percent before cooling off. It now trades 1 percent higher at Rs 383.

The stock is up for the 11th day in a row, its longest gaining streak since 2009.

Shares of the National Aluminium Company Ltd. gained as much as 4.7 percent to Rs 33.45 after being issued a Grant Order for lease agreement of the Utkal-D coal block.

The order was issued by the Government of Odisha for the block that was allocated to the company in May 2016.

The block has an initial capacity of 2 million tonnes per year and total mineable reserves of 101.68 million tonnes.

The stock is up for the third straight day today and is up over 10 percent during this period.

The currency opened weaker in today's trading session after a positive close on Friday.

The rupee opened at 76.44 compared to Friday's close of 76.38 against the U.S. Dollar. The currency posted its third straight weekly loss last week.

Yield on the 10-year bond opened at 6.34 percent as against Friday's close of 6.35 percent. A report from Cogencis stated that RBI bought sovereign bonds at Friday's auction through primary dealers.

State governments will sell debt worth Rs 7,570 crore today.

• Benchmark indices fluctuate between gains and losses
• Nifty up 0.3 percent at 9,295
• Nifty futures trade at a discount of 10 points
• Sensex up 0.4 percent at 31,708
• Nifty Bank up 0.6 percent at 20,797
• Nifty Midcap Index up 1.2 percent
• Nifty Smallcap Index up 1 percent
• India Volatility Index up 3.1 percent to 44
• Nifty Realty is the top sectoral gainer; up 2 percent
• Nifty I.T. Index up 1 percent
• Tata Motors is the top Nifty gainer; up 6.5 percent
• Bharti Infratel is the top Nifty loser; down 5 percent
• 1,106 stocks are trading with gains while 545 stocks are declining

• Nifty April futures add 9.1 percent in Open Interest and 8.7 lakh shares
• Nifty Bank April futures add 14.2 percent in Open Interest and 1.6 lakh shares

Nifty: April 23 Expiry

• 9,500 Call: Premium falls 33 percent to Rs 62.65. The contract has added 7.23 lakh shares in Open Interest.
• 9,000 Put: Premium falls 9.6 percent to Rs 69.90. The contract has added 3.3 lakh shares in Open Interest.
• 9,400 Call: Premium falls 27.6 percent to Rs 95.25. The contract has added 3.65 lakh shares in Open Interest.

Nifty Bank: April 23 Expiry

• 22,000 Call: Premium falls 33 percent to Rs 121.6. The contract has added 1.5 lakh shares in Open Interest.
• 20,000 Put: Premium falls 21.2 percent to Rs 285. The contract has added 1.4 lakh shares in Open Interest.
• 21,500 Call: Premium falls 24.5 percent to Rs 230. The contract has added 1.87 lakh shares in Open Interest.

Of HDFC Bank

• 1,000 Call: Premium up 26.2 percent to Rs 17.35. The contract has added 3.6 lakh shares in Open Interest.
• 960 Call: Premium up 30.1 percent to Rs 30.70. The contract has added 2.03 lakh shares in Open Interest.
• 900 Call: Premium falls 42.3 percent to Rs 20. The contract has added 2.22 lakh shares in Open Interest.

Other Active Options

• State Bank Of India's 200 Call: Premium up 16.5 percent to Rs 10.2. The contract has added 8.8 lakh shares in Open Interest.
• Tata Motors' 85 Call: Premium up 87.27 percent to Rs 5.15. The contract as added 23.5 lakh shares in Open Interest.

The company has informed the exchanges that consequent to permission from local authorities, it has resumed operations at the its Goa unit from April 19.

The company had to shut down the said unit on March 26 this year after the nationwide lockdown imposed to curb the spread of Covid-19.

The stock is locked in a 5 percent upper circuit at Rs 202. This is the eleventh straight day of the stock being locked in an upper circuit. This is the longest gaining streak for the stock since January 2020.

Shares of the company fell as much as 3.3 percent to Rs 317.3 after it reported a -6 percent Same Store Sales Growth in the March quarter due to Covid-19 related disruptions.

The company informed the exchanges that while Same Store Sales Growth in the month of January and February was over 12 percent, blanket restaurant closures during the nationwide lockdown impacted sales.

The release also stated that the company has cash reserves and Rs 156 crore of investments in Mutual Funds and other instruments that can be converted into cash at a short notice. It also has free debt lines worth Rs 225 crore available.

ABB Power Grids has won a project worth Rs 165 crore from the Indian Oil Corporation to ensure reliable grid connection at its Barauni refinery in Bihar, the company said in an exchange filing.

ABB Power Grids is also equipping the substation with its advanced substation automation and network management tools to control and protect IOC's grid real time and ensure maximum power availability.

Shares gained as much as 5.1 percent to Rs 972.75 and are up for the second straight day.

• Locked in an upper circuit of 5 percent at Rs 223.70
• Among the best performers on the Nifty Realty Index
• Sixth straight day of upper circuit
• Up 34 percent in the last six sessions
• Longest gaining streak since December 2018
• Trades at the highest level since March 12, 2020
• Today's volumes are 0.7 times higher than its 30-day average
• 21 out of the 22 analysts tracking the stock have a buy recommendation
• Return potential for the stock as per Bloomberg data now at 112.2 percent

• Benchmark indices continue to fluctuate
• Nifty unchanged at 9,265
• Nifty futures trade at a discount of 15 points
• Sensex unchanged at 31,600
• Nifty Bank up 0.5 percent at 20,781
• Nifty Midcap Index up 1.2 percent
• Nifty Smallcap Index up 0.8 percent
• India Volatlity Index Up 1.5 percent at 43.23
• Nifty Auto, FMCG and Metal index fall over 1 percent each. Nifty Pharma down 0.6 percent
• Nifty PSU Bank remains top sectoral gainer; up 4 percent
• Tata Motors remains the top Nifty gainer; up 6 percent
• Bharti Infratel remains the top Nifty laggard; down 5 percent
• 1,138 stocks trade with gains while 615 trade with losses

• Top gainer on the Nifty Midcap Index
• Gains as much as 15.3 percent to Rs 53.45
• Biggest one-day gain since October 25, 2017
• Up for the third straight day
• Trades at a one-month high
• Today's volumes are 5.2 times higher than its 30-day average
• 9 out of the 12 analysts tracking the stock have a buy recommendation; 1 sell call
• Return potential for the stock as per Bloomberg data at 150.8 percent

• Worst performer on the Nifty 500 index
• Fell as much as 14.7 percent to Rs 684.30
• Snaps three-day gaining streak
• Falls most in three weeks
• S&P Global Ratings lowered its rating on the stock to BB from BB+ and the outlook was maintained at negative.
• Has declined only for the second time in the last eight sessions
• Today's volume are double as compared to its 30-day average
• 34 out of the 40 analysts tracking the stock have a buy recommendation; 3 sell calls
• Return potential of the stock as per Bloomberg data is 63.5 percent

The company shared its fourth quarter business updates where its digital business ALTBalaji saw a growth of 60 percent in subscriptions. As of today, the platform has over 1.7 million active direct subscribers, as per the company's press release.

The company has also completed the first ever syndication of a web series to a broadcasters. Three of its web shows are now available on Zee TV, adding to the company's topline in the form of syndication fees.

Shares rose as much as 11.97 percent, the most in a month to Rs 48.65, the highest level since March 4, 2020.

European benchmarks have opened with a positive bias as Asian markets as well as futures in the U.S. remain mixed. West Texas Intermediate crude has now fallen below the $15 per barrel mark, the lowest level since 2001.

Here's a look at how benchmarks across Europe are faring on open:

• Euro Stoxx 50 up 0.37 percent to 2,898
• DAX up 0.4 percent to 10,669
• CAC up 0.4 percent to 4,517
• FTSE 100 up 0.3 percent to 5,803
• IBEX 35 down 0.1 percent to 6,872

BofA Securities has downgraded the stock to underperform and cut its price target to Rs 1,875 from the earlier target of Rs 2,380.

BofA expects Naukri's FY21 revenue to see a de-growth of 2 percent while it expects 99 Acres to see a revenue de-growth of 7 percent in the current financial year.

At current valuations, the risk-reward appears unfavourable, according to the BofA note.

Shares fell as much as 3.9 percent to Rs 2,390 on the National Stock Exchange.

The speciality chemicals player has informed the exchanges that it has resumed operations at its facilities in Mahad and Lote in Maharashtra today after obtaining requisite permissions from concerned Government authorities.

Shares rose as much as 6 percent to Rs 924 and are up for the third time in the last four sessions.

• Locked in a 5 percent upper circuit at Rs 45.75
• Up for the third straight day
• Up 13 percent in the last three sessions
• Volumes today are low at 0.2 times its 30-day average
• All 6 analysts tracking the stock have a buy recommendation
• Return potential of the stock as per Bloomberg data at 107.7 percent
• The stock has recovered 33 percent from its 52-week low of Rs 34.35 on March 26, 2020

The currency ended weaker as compared to Friday's close after a rangebound session of trade.

The rupee ended at 76.55 against the U.S. Dollar as compared to Friday's close of 76.38. The local currency recovered after hitting an intra-day low of 76.70.

Yields on the 10-year bond cooled off, ending at 6.21 percent after opening for trade at 6.34 percent. Yields cooled off after signs that the Reserve Bank of India intervened in Friday's primary government bond auction.

• Benchmark indices remain flat in a rangebound session
• Nifty up 0.25 percent at 9,287
• Nifty futures trade at a discount of 17 points
• Sensex up 0.4 percent at 31,703
• Nifty Bank up 0.4 percent at 20,765
• Nifty Midcap Index up 1.2 percent
• Nifty Smallcap Index up 0.8 percent
• India Volatility Index up 1.6 percent to 43.26
• Nifty FMCG (Down 2.1 percent) and Nifty Metal (Down 2.3 percent) are the top sectoral laggards. Nifty Auto index is the other laggard, down 1 percent.
• Nifty PSU Bank index extends gains; now up 4.6 percent.
• Tata Motors remains the top NIfty gainer; up 6 percent
• Hindalco is the top Nifty laggard; down 5.3 percent
• 1,168 stocks are advancing while 628 trade with declines.

• Buy 9,500 Call of the Nifty (April 30 Expiry) At Rs 130 for target of Rs 190 and stop loss of Rs 100
• Buy Reliance Industries at Rs 1,230 for target of Rs 1,270 and stop loss of Rs 1,210
• Buy SBI at Rs 193 for target of Rs 205 and stop loss of Rs 187

• Gains as much as 3.7 percent to Rs 381.45
• Up for the eighth straight day
• Longest winning streak since September 2010
• Up 40 percent in the last eight sessions
• Today's volumes are lower than its 20-day average
• 16 out of the 22 analysts tracking the stock have a buy recommendation; 2 sell calls
• Return potential of the stock as per Bloomberg data is 40 percent
• The stock has recovered 45 percent from its 52-week low of Rs 259.55 on April 3, 2020

• Buy 9,000 Put of the Nifty (April 23 expiry) at Rs 70 for target of Rs 180 and stop loss of Rs 10
• Buy Dabur for target of Rs 520 and stop loss of Rs 480
• Sell Coal India for target of Rs 135 and stop loss of Rs 150

• HDFC Bank's 1,000 Call: Premium up 20.4 percent to Rs 16.55. The contract has added 3.5 lakh shares in Open Interest.
• State Bank of India's 200 Call: Premium falls 4.5 percent to Rs 8.35. The contract has added 23.04 lakh shares in Open Interest.
• Reliance Industries' 1,300 Call: Premium up 5 percent to Rs 30.25. The contract has added 2.94 lakh shares in Open Interest

• A BloombergQuint poll estimates Dollar revenues to be 0.3 percent lower at $3,234 million
• Rupee revenue seen 1.6 percent higher at Rs 23,460 crore
• EBIT seen 2 percent higher at Rs 5,164
• EBIT Margins seen at 22 percent versus 21.9 percent
• Net profit seen 4.5 percent lower at Rs 4,267 crore
• All numbers are consolidated and compared on a sequential basis
• All estimates other than the Dollar revenue are Bloomberg estimates

What To Watch Out For From Infosys:

• Client payment periods, pricing pressure and discounts
• Outlook on BFSI given the current environment
• Ability to service clients under new environment
• Impact / change in strategy with focus on digital services

Indian equity markets ended a volatile session flat after fluctuating between gains and losses for majority of the trading day.

The S&P BSE Sensex ended 0.19 percent higher at 31,648 while the NSE Nifty 50 Index ended little changed at 9,261, down by 5 points.

Financials were on both sides of the spectrum in today's trading session. While HDFC Twins contributed to the upside, ICICI Bank and Axis Bank kept the gains in check.

Among sectoral indices, the Metals index was the top laggard, ending with losses of 3.5 percent. Nifty FMCG (Down 2.1 percent), Nifty Auto (Down 1.6 percent) and Nifty Bank (Down 0.8 percent) were some of the other sectoral laggards.

1,153 stocks ended the day with gains while 681 traded with losses.