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Reliance posted a 2% YoY profit increase to Rs 19,407 crore, beating expectations. Revenue surged 10% to Rs 2.64 lakh crore, driven by telecom and retail. Analysts suggest a range-bound strategy with a potential upside towards Rs 1,410-1,460, and a buy recommendation at current levels.
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Indian stock market closed lower due to geopolitical concerns, with mid- and small-cap stocks hit hardest. Analysts suggest a cautious approach, citing risk-off sentiment amid escalating Indo-Pak tensions. The Nifty fell below its 200-DMA, signaling a potential bearish trend. US and European markets showed mixed but optimistic movements.
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The Indian market closed in the red for the second consecutive day in a row on Friday tracking geopolitical concerns.The BSE Senses fell nearly 600 points while the Nifty50 managed to close just above 24,000.
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Indian frontline indices ended in the red on Friday, recording their second successive losses amid selling pressure in auto, bank, and FMCG stocks. The BSE Sensex fell by 588.90 points, or 0.74%, to 79,212.53, while the Nifty declined 207.35 points, or 0.86%, to end the day at 24,039.35.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities, said that the Nifty technical charts show a rise in bearish sentiment as the headline index fell for the second session in a row after a consolidation on the daily chart. "Additionally, the index has fallen below its 200-DMA, signaling a potential re-entry into a bearish trend.Investor sentiment remains weak, with a clear risk-off approach ahead of the weekend amid rising tensions between India and Pakistan. In the short term, sentiment is likely to continue driving the market trend, with the possibility of the index heading lower. Support on the lower end is placed at 23,800/23,515," De said.Here are 5 stock recommendations for Monday:
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Ather Energys much-awaited IPO is set to open for subscription on April 28 and close on April 30. The Hero MotoCorp-backed EV maker aims to raise around Rs 2,980 crore through a combination of fresh issue and offer for sale. However, brokerages have varied views on the public offer. Here are their views.
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