sensex today: Stock Market Today LIVE Updates: Sensex trades flat, Nifty below 17,650; SCI

09:51 AM

Indian pharmaceutical firm Mankind Pharma Ltd has set a price band of 1,026 rupees to 1,080 rupees per share for its initial public offering, according to a newspaper advertisement.

Rumours of overhaul of capital gains tax led to selling in the market during the afternoon session. With the government clarifying that there is no such proposal this rumour has been laid to rest. For the near-term, there are no triggers that can take the market sharply up or down. So expect a brief consolidation phase for the market. Within this consolidation phase there will be impressive moves in individual stocks. In the results expected this week the best performance is likely to come from ICICI Bank. HCL Tech is unlikely to disappoint like Infosys. RIL’s results will be good but unlikely to surprise the market. Investors should closely watch the results that surprise on the upside along with positive management commentary. Such stocks will remain resilient even in a weak market.

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

Markets are likely to see a sluggish opening with a slightly negative bias on Wednesday amid a flat close in overnight US indices. Upside moves for Nifty is likely to be capped as markets head into the traditional “Sell in May” lull. However, the good news is the Chinese economy advanced 4.5% yoy in Q1 of 2023, its strongest pace of expansion since Q1 of 2022. The technical landscape of domestic indices suggest that Nifty is likely to trade volatile and choppy with the biggest support to watch is at its 200 DMA at 17578 mark. On the other hand, the benchmark index could find strength only above the 17863 mark.

– Prashanth Tapse, Senior VP (Research), Mehta Equities

07:32 AM

Quarterly earnings today

Tata Communications, ICICI Securities, Alok Industries and a slew of other companies will announce their quarterly results today.

07:32 AM

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 21.5 points, or 0.12 per cent, lower at 17,700, signaling that Dalal Street was headed for negative start on Wednesday.

07:32 AM

Tech View: 17,600 strong support zone for Nifty

Breaking its higher high formation of the last 10 trading sessions, Nifty today formed a long bear candle with minor lower shadow on the daily charts. The index has to hold above the 17,620 zone to witness an up move towards 17,777 and 17,850 zones while on the downside supports are placed at 17,570 and 17,500 marks, said Chandan Taparia of Motilal Oswal.

07:31 AM

Tokyo shares open nearly flat

Tokyo shares opened nearly flat on Wednesday after US stocks barely moved overnight as investors watched corporate earnings reports.The benchmark Nikkei 225 index eased 0.03 percent, or 8.10 points, to 28,650.73 in early trade, while the broader Topix index added 0.02 percent, or 0.31 points, to 2,041.20.

07:31 AM

S&P 500 ekes out gain as tech supports, J&J, Goldman disappoint

The S&P 500 eked out a slim gain on Tuesday after strength in some big technology stocks countered disappointing quarterly reports from Johnson & Johnson and Goldman Sachs as first-quarter earnings season kicked into gear.

07:31 AM

Rupee falls 3 paise against US dollar on forex outflows

The rupee depreciated 3 paise to close at 82.04 against the US dollar on Tuesday, tracking negative sentiments in the domestic equities market and foreign fund outflows.

07:30 AM

Oil prices edge higher on falling US inventories, China data

Oil prices rose in early Asian trade on Wednesday as U.S. crude inventories were seen falling and on strong Chinese economic data, signalling strengthening fuel demand. Brent crude futures gained 7 cents to $84.84 a barrel at 0020 GMT. West Texas Intermediate U.S. crude was up 3 cents to $80.89 a barrel.

07:30 AM

Sensex, Nifty on Tuesday

The 30-share BSE benchmark Sensex declined 184 points or 0.31% to settle at 59,727. The broader NSE Nifty dropped 47 points or 0.26% to end at 17,660.