Sensex Today: Stock Market LIVE Updates: Nestle down 2% after recording dip in quarterly profit. RIL hits record high. Realty, bank stocks in demand

Sensex Today LIVE: Sensex and Nifty rose on Thursday, on track for a second consecutive day of gains, with investors buying stocks across the board and as Reliance Industries hit an all-time high. Reliance extended gains to a third straight session and rose as much as 1.94%. Morgan Stanley raised its target price on the stock to Rs 3,253 from Rs 2,926.

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Dalal Street investors seem disappointed by Nestle India’s Q1 numbers as stock under selling pressure

Price as on Apr 21, 2022 10:56AMClick on company names for their live prices.

Nestle India Q1 Results: Revenue up 10% to Rs 3,981 crore but profit dips

Nestle India on Thursday said its net profit fell 1.25 per cent year-on-year (YoY) to Rs 594.71 crore in March quarter compared with Rs 602.25 crore in the same quarter last year. This is even as revenue from operations rose 10.24 per cent YoY to Rs 3,980.70 crore from Rs 3,610.82 crore in the year-ago quarter. An ET NOW poll of analysts had estimated profit figure at Rs 610 crore.

Nestle India Q1: PAT at Rs 594.7 cr vs Rs 602.2 cr YoY

Morgan Stanley’s new target price on RIL

Maintaining its overweight stance on RIL stock, global brokerage firm Morgan Stanley has upgraded its target price to Rs 3,253, signaling about a 20 per cent upside in the counter.

Rupee almost flat against US dollar in early trade

At the interbank foreign exchange, the rupee opened slightly strong at 76.28 against the US dollar but soon shed the gains to quote at 76.31, registering a fall of just 1 paisa over the last close.

We are back above 17,000 convincingly and hence, any positivity from the global peers or the domestic banking space could bring strength to our market. As far as levels are concerned, 17,200-17,300 remains a stiff hurdle and only a sustainable move beyond this would result in a strong momentum

– Sameet Chavan of Angel Broking

Reliance shares hit record high

Price as on Apr 21, 2022 09:38AMClick on company names for their live prices.

Markets often overreact, both on the upside and downside. As sanity sets in, prices normalize. The stretched valuations of IT stocks, particularly in the midcap space, was the consequence of the market overreacting to excellent results and good earnings visibility. Slight disappointments in expectations swing the pendulum to the other side, depressing prices. Even though there is some margin pressure in IT, results of mid-cap IT stocks indicate that earnings momentum is strong

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Oil prices up as traders weigh demand and supply issues

Oil began inching upward on Thursday after a day of losses over demand concerns linked to the Covid-19 lockdown in China. Brent futures rose more than $1 to $108.11 a barrel.

Top gainers in the banking pack

Price as on Apr 21, 2022 09:22AMClick on company names for their live prices.

All sectoral indices open in red. Nifty Realty top gainer

OPENING BELL: Sensex rises 350 points, Nifty tops 17,200; Angel One, MRPL jump 6% each

Pre-open session: Sensex gains 400 points, Nifty50 above 17,200

Market Calendar: HCL Tech, Nestle India to report March quarter results today

Market Calendar: HCL Tech, Nestle India to report March quarter results today

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 109 points, or 0.64 per cent, higher at 17,255.50, signaling that Dalal Street was headed for a positive start on Thursday.

Tech View: Nifty50 bulls attempt comeback

Nifty50 on Wednesday snapped a five-day losing streak and closed just above its 50-day moving average after flirting with the 200-day moving average at day’s high. The index formed an Inside Bar pattern on the daily chart. Analysts said the index needs to take out 17,300 level decisively, before seeing any sustained momentum on the upside.

Dollar edges up after pullback

The dollar edged up on Thursday supported by expectations for aggressive Federal Reserve monetary tightening, but was well off the previous day’s peaks amid nervousness about what a gathering of finance ministers might say about its rapid appreciation. The dollar index – which measures the currency against six peers including the yen – ticked up 0.11% to 100.45, following its retreat in the previous session from a more than two-year peak of 101.03.

Oil climbs but takes a breather in tight range

Oil prices traded higher but in a narrow range on Thursday, after being rocked earlier in the week by supply losses from Libya and a worrying outlook for demand as the International Monetary Fund cut its global growth forecasts. Brent crude futures rose 55 cents, or 0.5%, to $107.35 a barrel, recovering losses from the previous session. US West Texas Intermediate (WTI) crude futures gained 41 cents, or 0.4%, to 102.60 a barrel, adding to a 19 cent gain in the previous session.

Hong Kong stocks open lower

Hong Kong stocks opened down on Thursday, following two days of losses and mixed results on Wall Street where shares of streaming giant Netflix plummeted on dwindling subscriptions. The Hang Seng Index fell 0.78 percent, or 163.81 points, to 20,780,86.84. The Shanghai Composite Index started 0.40 percent lower, or 12.62 points, at 3,138.43, while the Shenzhen Composite Index on China’s second exchange lost 0.53 percent, or 10.42 points, at 1,975.22.

Japan’s Nikkei index opens higher

Tokyo stocks opened higher Thursday, despite a mixed finish on Wall Street, where a big earnings miss by Netflix prompted a sell-off of the streaming giant’s shares. The benchmark Nikkei 225 index added 0.31 percent, or 83.99 points to 27,301.84, while the broader Topix index edged up 0.19 percent, or 3.70 points, to 1,918.85. The dollar fetched 128.20 yen, against 127.84 yen in New York late Wednesday.

US stocks settled mixed; Netflix plunges on subscriber losses

Wall Street’s major stock indices ended mixed Wednesday after another day of choppy trading, while Netflix lost more than a third of its value after reporting its first subscriber loss in more than a decade and predicting more grim times ahead. The S&P 500 slipped 0.1% after a late-afternoon fade, while the Nasdaq fell 1.2%. The Dow Jones Industrial Average rose 0.7%, having received a bump from IBM, which added 7.1% after reporting quarterly results that beat analysts’ estimates.

Rupee darts up 20 paise to 76.30 against dollar

Snapping its four-day losing streak, the rupee appreciated by 20 countries to settle at 76.30 against the US dollar on Wednesday, tracking a weak greenback overseas and recovery in domestic equities. However, unabated foreign fund outflows capped the gains. At the interbank forex market, the domestic unit opened at 76.41 against the US dollar and touched an intra-day high of 76.16 and a low of 76.52. It finally finished at 76.30, registering a rise of 20 paise over its previous close.

Sensex, Nifty on Wednesday

Benchmark indices bounced back on Wednesday after falling for five straight sessions, with investors snapping up the recently-mauled IT, finance and consumption stocks amid a supportive trend overseas. A rebounding rupee further bolstered sentiment, traders said. Halting its five-session slide, the BSE Sensex jumped 574.35 points or 1.02 per cent to finish at 57,037.50. Similarly, the NSE Nifty surged 177.90 points or 1.05 per cent to 17,136.55.

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Good morning, dear reader!  Here's something to kickstart your trading day


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