Sensex dip: US CPI inflation data weakened investor sentiment, causing a decline in June rate cuts and a surge in treasury bond yields.
The Sensex and Nifty experienced a one percent decline on April 12, due to a selloff and US CPI inflation data. Meanwhile, IT services company Tata Consultancy Services reported a 9.1% rise in consolidated net profit for Q4 FY24.
The TCS result will impact the equity market on April 15, with TCS closing 0.5% higher on NSE. The Sensex and Nifty 50 were down 1.06 percent and 22.519.40 points respectively.
Sectors and stocks
Nifty Midcap 100 and 150 reached record highs, with top Nifty gainers being Divis Laboratories, Tata Consumer Products, Nestle, and TCS. Sectoral indices closed in red, with Nifty Pharma and Nifty Healthcare down 1.8% and 1.5%, respectively.
A long buildup was seen in IRCTC, Metropolis Healthcare, Syngene International, and Bharat Electronics while a short buildup was seen in Sun Pharmaceutical Industries, Page Industries, Laurus Labs, and Zydus Lifesciences.
Aarti Industries, ABB India, Aegis Logistics, Bharat Electronics, Cummins India, Eicher Motors hit their 52-week highs on the BSE among others.
April 15 Forecast
Indian equity benchmarks fell due to global market sentiment, US inflation data, and Mauritius’s DTAA agreement alteration. Technically, the index is expected to trade between 22,000-23,000 ahead of Q4FY24 earnings, with immediate support at 22,500.
The Nifty and Nifty Bank are above resistance levels, and the market rally could continue after elections. Midcaps and smallcaps will provide momentum, with minor corrections possible. The Nifty 50 could find support at 22,000 and resistance at 23,300 for the next two weeks.
| FII Sold | -8,027.00 Cr |
| DII Bought | 6,341.53 Cr |
Indian Market Stocks
| Sensex | -793.25 | -1.06% | 74,244.90 |
| Nifty 50 | -234.40 | -1.03% | 22,519.40 |
| Nifty Bank | -422.05 | -0.86% | 48,564.55 |
Market Movers
| Divis Labs | 40.60 1.09% | Sun Pharma | -64.05 -3.99% |
| Bajaj Auto | 59.30 0.66% | Maruti Suzuki | -416.20 -3.28% |
| Tata Motors | 5.00 0.49% | Power Grid Corp | -7.30 -2.58% |
| TCS | 16.75 0.42% | Titan Company | -91.90 -2.48% |
| TATA Cons. Prod | 4.15 0.36% | ONGC | -6.30 -2.32% |
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Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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