Closing Bell: Nifty ends below 18,000, Sensex falls 435 pts; banks drag, power stocks brighten – Moneycontrol

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Jio-bp and TVS Motor Company to collaborate on EV solutions
Nifty ends below 18,000, Sensex falls 435 points
Motilal Oswal maintains buy rating on AU Small Finance Bank, target Rs 1,550
Motilal Oswal maintains buy rating on IndusInd Bank with target price of Rs 1,300
Hariom Pipe Industries IPO sees 5.85 times subscription on final day
Choice Broking maintains buy rating on HDFC Bank
DB Realty enters into MOU with Shiva Group Companies to acquire additional stake
Motilal Oswal Financial Services subsidiary to get USD 50 million long term loan
KEC International wins new orders of Rs 945 crore
Mindtree invests in COPE Health Solutions to accelerate its healthcare business
Nifty Bank index sheds 0.5 percent dragged by the Federal Bank, HDFC Bank, Kotak Mahindra Bank
JC Parets recommends ICICI Bank stock for the long term
Coforge & Kong Inc form strategic alliance for Cloud API services
Passenger vehicle retail sales dip 5% in March to 2,71,358 units: FADA
Zomato reacts to CCI probe, says its practices comply with the laws
U Gro Capital files with SEBI for public issue of NCDs
Suven Pharma to acquire Hyderabad-based formulation company Casper Pharma
BSE Midcap index gains 1 percent supported by the Bajaj Holdings & Investment, Supreme Industries, Adani Power
Will work closely with CCI with their investigation: said Zomato
Oil extends rally on prospect of fresh Russia sanctions
Inflation will remain a concern for next few years, technology sector looks attractive: Ramesh Damani
Goa Carbon Bilaspur Unit temporarily shut for maintenance work
BSE Smallcap index up 1.5 percent supported by the Swan Energy, Dilip Buildcon, Sunflag Iron
Hariom Pipe Industries IPO sees 4.67 times subscription on final day
L&T Finance clarifies on sale of bad loans
USFDA issues four observations for Lupin's Tarapur manufacturing facility
DFM Foods clarifies on delisting proposal
Tata Consultancy Services has entered into a strategic partnership with Payments Canada
Dr. Reddy’s Laboratories launches arthritis drug Methylprednisolone Sodium Succinate in US
Lupin in licensing agreement with Alvion Pharmaceuticals
Motilal Oswal maintains positive view on the cement sector, UltraTech Cement a top pick
FY22 retail sales up 7% and 2-wheeler sales were up 4%: FADA
BSE FMCG index rises 1 percent supported by the Avanti Feeds, IFB Agro, KRBL
Indices trade lower with Nifty around 18000
Zomato shares decline 2% after CCI orders probe into 'unfair' practices
Gold slips as dollar holds firm on safe-haven flows
Nazara Tech arm to invest $2.5 million in US company BITKRAFT Ventures
Hariom Pipe Industries IPO sees 4.15 times subscription on final day
Hariom Pipe Industries IPO sees 3.74 times subscription on final day
Ramkrishna Forgings bags order of Rs 135 crore from Euroasian OEM anufacturer
Transportation Infrastructure business of L&T secures various orders
Tata Power Solar commissions 160 MW AC solar project at Rajasthan
Indian rupee opened flat at 75.53 per dollar
Indices trade lower with Nifty around 18000
BSE Realty index down 0.5 percent dragged by the Indiabulls Real Estate, Macrotech Developers, Sunteck Realty
KRChoksey maintains buy on HDFC Bank
Nifty Auto index rises 1 percent supported by the Eicher Motors ,Balkrishna Industries, Tata Motors
Elara Capital maintains buy on HDFC, target Rs 3,284
29.4 million shares (3% stake) of SBI Cards and Payments Services changes hands in block deals
Indices open flat amid mixed global cues
Benchmark Indices are expected to open on a positive note: Mohit Nigam
Indian markets are likely to open gap up: ICICI Direct
Dharmaj Crop Guard, Venus Pipes & Tubes get Sebi nod to float IPOs
Markets are likely to commence on a firm note: Prashanth Tapse
CCI orders investigation against online food delivery platforms Zomato and Bundl Technologies
Prabhudas Lilladher maintains buy on HDFC Bank, targe Rs 2,000
Carlyle Group will sell its entire stake in SBI Cards via block deal
India's trade deficit rises 88% in FY22: Govt data
Proposed merger benefits both HDFC Bank & HDFC: Morgan Stanley
Petrol, diesel prices hiked by 80 paise
TCS enters into a strategic partnership with Payments Canada
Oil rises as uncertainty around supply persists
SGX Nifty indicates a positive start for the Indian indices
Tech, megacap growth shares boost Wall Street; Twitter surges

Follow our LIVE blog for the latest updates on the Russia-Ukraine and its impact

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:
Markets had rallied sharply in the last two sessions and outperformed other Asian peers, but the bears were back in action with investors preferring to book profit. Financial stocks, which triggered a massive rally in the broader markets a day before, emerged as the primary reason behind the fall in key benchmark indices, despite buying interest seen in auto and FMCG stocks. 
On intraday charts, the Nifty has formed a double top kind of formation which indicates further weakness from the current levels. The index has also formed a bearish candle on daily charts which is broadly negative. However, the medium term texture of the market is still on the positive side. 
We are of the view that as long as the index is trading below the level of 18050, the correction could continue up to 17850-17750. A fresh uptrend is possible only after the 18050 range breakout and could move up to 18130-18200.
Jio-bp and TVS Motor Company to collaborate on EV solutions
Mumbai, 5th April 2022: Jio-bp and TVS Motor Company today announced that they have agreed to explore the creation of a robust public EV charging infrastructure for electric two-wheelers and three-wheelers in the country, building on Jio-bp’s growing network in this space. 
Under this proposed partnership, the customers of TVS electric vehicles are expected to get access to the widespread charging network of Jio-bp, which is also open to other vehicles.  

Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services:
Domestic equities moved sideways amid cautious global environment. Global markets were mixed as investors await levy of new batch of sanctions on Russia. Nifty opened flat and witnessed some consolidation after two days of rally. It closed near day’s low with loss of 96 points (-0.5%) at 17,957 levels.
Broader market outperformed and closed with gains of 1%. Among sectors Consumer Durables, FMCG and Auto were top gainers up 1-2% each, followed by Metals, Oil & Gas, PSU Bank, Pharma and IT. While selling was seen in Private Bank, Financial Services, Media and Realty.
Market might consolidate for some time before the key event of RBI’s policy meet due this week which would provide some direction to the market.
Banking stocks are likely to remain in lime light on account of this. Q4 results announcement would also kick start with IT companies which would keep the markets volatile. Investors would close track the corporate commentaries given the current global environment. 

Ajit Mishra, VP – Research, Religare Broking:
Markets took a breather after yesterday’s surge and ended marginally lower. After the flat start, the benchmark hovered in a range and ended around the day’s low. Amid all, sectoral indices traded mixed wherein profit booking in banking & financials dragged the indices lower. However, buying in power, consumer durables, and FMCG packs capped the downside. The broader indices were up in the range of 1.5-1.6% respectively. 
 
Markets may consolidate after the recent surge and it would be healthy. However, there’ll be no shortage of trading opportunities, thanks to scheduled events like MPC’s monetary policy review meet and the beginning of the earnings season. Participants should focus on the sectors/themes which are playing out well and utilise the pause to accumulate quality stocks on dips.

Rupak De, Senior Technical Analyst at LKP Securities:
Nifty remained sideward during the session. On the higher end, it found resistance around the previous high before ending the session in the red. However, the Nifty has managed to close above 200DEMA indicating a prevailing positive trend. On the higher end, 18150 may continue to remain an immediate resistance, on the lower end, support is visible at 17800.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:
With the recent rally, the Nifty had reached its daily upper Bollinger band as well as a falling trendline drawn from the October high. These parameters maintained pressure for the second consecutive day. As a result, the index formed a distribution triangle on the hourly chart below these hurdles & moved lower towards the end of the session. 
On the daily chart, the Nifty has formed an Inside bar pattern below these barriers. This shows loss of momentum on the upside. Thus the index looks set for a minor degree dip before moving higher. 
On the downside, the Nifty can fill up the recent gap area on the daily chart, which is near 17790-17700. On the higher side, 18100-18200 will continue to pose as a key resistance zone.

Palak Kothari, Research Associate at Choice Broking:
After a positive opening, the benchmark index traded with a negative bias for the whole day and showed profit booking from higher levels. The Nifty50 index closed at 17930.75 levels with a loss of 0.53% while Bank Nifty settled at 38067.90 levels, down by 1.47% in a day. 
Technically, the Nifty50 faced resistance from 18100 levels and showed downside momentum but it managed to close above its 50-days Simple Moving Averages indicates sustained above the same can show bounce back.
The index has taken the support from the previous horizontal line and closed above the same which indicates buyers are quite active. However, the momentum indicator MACD in trading with positive crossover on daily charts which indicates upside movement can be seen. 
Moreover, the index has managed to close above 21& 50-HMA sustained above the same can show northward direction. The Nifty may find support around 17,800 levels while on the upside 18,150 may act as an immediate hurdle for the index. On the other hand, Bank Nifty has support at 37700 levels while resistance at 38700 levels.

Rupee Close:
Indian rupee ended higher by 22 paise at 75.32 per dollar against Monday’s close of 75.54.
Market Close: Indian benchmark indices broke two day's winning momentum and ended lower in the volatile session on April 5 with Nifty finishing below 18,000 level.
At close, the Sensex was down 435.24 points or 0.72% at 60,176.50, and the Nifty was down 96 points or 0.53% at 17,957.40. About 2280 shares have advanced, 1035 shares declined, and 97 shares are unchanged. 
HDFC Bank, HDFC, Bajaj Finserv, Reliance Industries and Kotak Mahindra Bank were among the top Nifty losers. Adani Ports, NTPC, Tata Motors, Power Grid Corporation and Tata Consumer Products were the top gainers.
On the sectoral front, auto, FMCG and power indices rose 1-3 percent, while bank index was down 1 percent. BSE midcap and smallcap indices added 1 percent each.

Buzzing Stocks:
Tata Power share price rose 8 percent after its wholly-owned subsidiary Tata Power Solar Systems commissions a 160MW AC solar project at Jetstar, Rajasthan.
Zomato share price was down over 2 percent on April 5 after the top two food delivery apps came under wrath from the competition watchdog.
Auto stocks gained, while banking stocks remained under pressure.
Motilal Oswal view on AU Small Finance Bank
AU Small Finance Bank posted a robust growth in advances, led by strong disbursements, due to continuous improvement in its business environment. Deposit growth too remains strong, led by healthy CASA growth, resulting in moderation in the cost of funds. 
On the asset quality front, collection efficiency remains strong (in excess of 100%). This is likely to result in an improvement in asset quality ratios, providing further comfort.
We maintain our buy rating with a target price of Rs 1,550/share (4.5x FY24E BV)
AU Small Finance Bank was quoting at Rs 1,315.35, up Rs 6.80, or 0.52 percent.
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