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CLOSING BELL: Bajaj Finance, Asian Paints, IndusInd Bank, ICICI Bank, Nestle India, HUL, Reliance Industries, HDFC Bank, Axis Bank, and SBI were the top laggards on the Sensex index

BSE, NSE, Sensex, Nifty, stock markets

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	<strong>Stock market higlights:</strong> Benchmark indices erased gains in the last hour of trading as profit booking in financial and FMCG stocks weighed on the bourses. The S&P BSE Sensex, which hit an intra-day high of 60,109, ended at 59,846, up 14 points or 0.02 per cent. The Nifty50, meanwhile, shut shop at 17,624, up 24 points or 0.14 per cent. The touched an intra-day high of 17,694.</div>
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	Bajaj Finance, Asian Paints, IndusInd Bank, ICICI Bank, Nestle India, HUL, Reliance Industries, HDFC Bank, Axis Bank, and SBI were the top laggards on the Sensex index, down up to 1.76 per cent.&nbsp;</div>
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	<strong>ALSO READ: <a href="https://www.business-standard.com/markets/news/5-mid-cap-stocks-hit-crucial-peaks-enter-next-bull-run-do-you-own-any-123041000292_1.html" target="_blank">5 mid-cap stocks enter next bull run; Do you own any?</a></strong></div>
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	The broader markets, however, outran the frontline indices with the BSE MidCap index up 0.38 per cent, and the BSE SmallCap index up 0.16 per cent.</div>
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	Sectorally, the Nifty Private, PSU Bank, and FMCF indicies fell up to 0.6 per cent. On the flipside, the Nifty Realty index jumped over 4 per cent, rallying over 7 per cent in two days. <a href="https://www.business-standard.com/markets/news/nifty-realty-index-rallies-7-in-2-days-after-rbi-keeps-repo-rate-unchanged-123041000367_1.html" target="_blank"><strong>READ MORE</strong></a></div>

Sensex, Nifty end flat after choppy day; financials fall, Godrej Prop up 9%

Business Standard

Sensex, Nifty end flat after choppy day; financials fall, Godrej Prop up 9% | News on Markets - Business Standard

ALERT :: Saudi Aramco to supply full volumes to Asia despite OPEC+ oil cuts, reports Reuters

&gt;&gt;&nbsp;Saudi Aramco has told at least four customers in North Asia they will receive full contract volumes of crude oil in May, several sources with knowledge of the matter said on Monday.<br />
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&gt;&gt;&nbsp;People now wonder how the additional voluntary cut would reflect in the actual supply, or if it is merely a measure to shore up oil prices, a source at an Asian refiner said.<br />
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&gt;&gt;&nbsp;Oil demand is expected to be weak as several refiners in Asia, such as Sinopec, S-Oil, Fuji Oil and Idemitsu, have planned maintenance in May.

ALERT Godrej Properties records its best-ever quarter for sales bookings, project deliveries

DIIs book profit as RBI paused rate hike on April 6, sold equities worth Rs 997.08 crore

FII buying extends with Rs 475.81-crore equity purchase on April 6

Oil prices hold steady, Brent flat at $85/bbl

Asia-Pacific markets trade mixed; Nikkei 225 rise 0.4%

US markets close higher on Thursday, led by tech stocks

Good morning readers! Catch Business Standard with live market updates

Catch Business Standard with live market updates

MARKET VIEW: Volatility on account of sectoral churn away from Banks to Auto & Realty

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	Market has corrected from near record highs and has turned volatile. A healthy feature of the ongoing 3-month old rally is that it has been characterised by corrections which made &lsquo;buy on dips&rsquo; strategy successful.&nbsp;<br style="margin: 0px; padding: 0px; box-sizing: border-box;" />
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	Much of the ongoing volatility in the market is due to sectoral churning happening on a large scale. This has turned Bank Nifty weak and Nifty Auto and Nifty Realty strong.<br style="margin: 0px; padding: 0px; box-sizing: border-box;" />
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	It is important to understand this sectoral churn and diverse sectoral trends. While Nifty is up by 3% YTD, Nifty Bank is up by only 1%. In sharp contrast to this trend, Nifty Auto is up by 15.86% and Nifty Realty is up by 17% YTD.<br style="margin: 0px; padding: 0px; box-sizing: border-box;" />
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	Banking stocks are witnessing profit booking in spite of the sound fundamentals and part of this money is moving to autos and realty reflecting their improving prospects.<br style="margin: 0px; padding: 0px; box-sizing: border-box;" />
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	<em style="margin: 0px; padding: 0px; box-sizing: border-box;">Views by&nbsp;V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.</em></div>

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	<p dir="ltr" lang="en">
		Putin says his country is in favor of using the Chinese Yuan for trade settlements between Russia and the countries of Asia, Africa and Latin America.</p>
	&mdash; The Spectator Index (@spectatorindex) <a href="https://twitter.com/spectatorindex/status/1638400626672676865?ref_src=twsrc%5Etfw">March 22, 2023</a></blockquote>
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VIEW:: Bank Nifty may see strong upside on breakout above 44,500

<span style="color: rgb(40, 43, 50); font-family: Merriweather; font-size: 18px;">&quot;The Bank Nifty remained sideways following a positive start. The undertone of the index is still bullish, maintaining the support of 44,000 in a spot where a decent amount of Put writing is seen and resistance is still intact at 44,500. After the central bank policy the Bank Nifty is expected to give a move on either side. Upon a decisive move 44,500 we might see strong directional upside moves.&quot;</span><br style="margin: 0px; padding: 0px; box-sizing: border-box; color: rgb(40, 43, 50); font-family: Merriweather; font-size: 18px;" />
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<em style="margin: 0px; padding: 0px; box-sizing: border-box; color: rgb(40, 43, 50); font-family: Merriweather; font-size: 18px;">- Rupak De, Senior Technical Analyst at LKP Securities</em>

Currency check :: Rupee ends at 81.98/$ against Thursday's close of 81.89/$

CLOSING BELL:: NSE Nifty50 settles 25 pts higher at 17,624

United Breweries hits 52-week low; dips 17% in 3 months on margin concerns

In the October-December quarter (Q3FY23), UBL&#39;s Ebitda (earnings before interest, taxes, depreciation, and amortization) was at 4.5 per cent, dragged down by steep rise in material costs, the impact of weak state mix, route to market change in Tamil Nadu (TN), and the impact of a change in excise policy in Delhi. <a href="https://www.business-standard.com/markets/news/united-breweries-hits-52-week-low-dips-17-in-3-months-on-margin-concerns-123041000482_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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L&T hits record high on strong business outlook; stock jumps 9% in 6 days

On Monday, L&amp;T announced that the hydrocarbon business of the company secured a significant order under its AdVENT (Advanced Value Engineering and Technology) business vertical. <a href="https://www.business-standard.com/markets/news/larsen-toubro-hits-record-high-on-strong-biz-outlook-surges-9-in-6-days-123041000310_1.html?1681111463" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Larsen &amp; Toubro, L&amp;T" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2017-07/08/full/1499470653-6578.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Larsen &amp; Toubro, L&amp;T" width="620" /></div>
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5 mid-cap stocks hit crucial peaks, enter next bull run; do you own any?

These 5 mid-cap stocks may rise up to 20 per cent, as technical charts reveal positive breakouts. <a href="https://www.business-standard.com/markets/news/5-mid-cap-stocks-hit-crucial-peaks-enter-next-bull-run-do-you-own-any-123041000292_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Markets, midcaps, cmallcaps, Budget 2017" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2017-01/19/full/1484764870-8858.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Markets, midcaps, cmallcaps, Budget 2017" width="620" /></div>
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Oil & Gas shares in focus: MGL hits 52-week high; ONGC, IGL jump up to 3%

The Government of India has accepted several key recommendations made by the Kirit Parikh Committee with respect to the pricing of natural gas produced from the APM fields. <a href="https://www.business-standard.com/markets/news/oil-gas-shares-in-focus-mgl-hits-52-week-high-ongc-igl-jump-up-to-3-123041000204_1.html?1681104587" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="gasoline, diesel, fuel, petrol" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-03/09/full/1646815818-9409.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="gasoline, diesel, fuel, petrol" width="620" /></div>

Consider 2023 as a year to invest for long term, says Sankaran Naren

By and large, the Indian equity market is in a better position than it was in March 2022. Valuations are much more reasonable now and supported by robust domestic macros in the form of a lower current account deficit. Much of the rate-hiking cycle, too, is behind us, even though market levels are where they were 18 months ago. <a href="https://www.business-standard.com/finance/interviews/consider-2023-as-a-year-to-invest-for-long-term-says-sankaran-naren-123040900139_1.html" target="_blank"><strong>READ INTERVIEW HERE</strong></a><br />
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Godrej Properties soars 8% on strong Q4 business update

The stock has bounced back 21 per cent from its 52-week low of Rs 1,005.70, touched on March 29, 2023. During FY23, Godrej Properties underperformed the market and fell 38 per cent, as compared to 3.4 per cent rise in the S&amp;P BSE Sensex. <a href="https://www.business-standard.com/markets/news/godrej-properties-soars-8-on-strong-q4-business-update-123041000181_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/04/full/1659555849-4858.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
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Analysts play it safe; prefer safety of large-caps amid multiple headwinds

Analysts suggest that the overall market valuation has become attractive after the recent correction and investors can start buying large-cap stocks from a medium-to-long term perspective. <a href="https://www.business-standard.com/markets/news/analysts-play-it-safe-prefer-safety-of-large-caps-amid-multiple-headwinds-123041000171_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2020-02/05/full/1580844835-8055.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
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Buzzing stock :: Tata Motors vrooms nearly 8% on solid JLR sales

The Indian automaker posted an eight per cent year-on-year increase in group global wholesales, including that of Jaguar Land Rover (JLR), at 3.61 lakh units in the January to March quarter of FY23.<br />
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	<img align="left" alt="image" class="imgCont" height="432" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-04/10/full/1681100176-9562.png" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="image" width="600" /></div>
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Sectoral check :: All but Nifty FMCG index trade higher

Sensex Heatmap :: Over 10 stocks trade with losses led by Asian Paints, Maruti Suzuki India

Opening Bell :: Sensex rises over 100 pts

ALERT :: India halts UK trade talks over Sikh extremists, reports The Times

&gt;&gt;&nbsp;India has halted trade talks with the United Kingdom and will not restart them till the latter publicly condemns a Sikh extremist group which attacked the Indian embassy building in London in March, said a report by <em>The Times<br />
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&gt;&gt;&nbsp;</em>In order to the the negotiations back on track, the UK home office, in the coming weeks, is planning an announcement and also to crack down on Sikh extremists and supporters of the Khalistan movement, which is calling for the independence of Punjab in India

Pre-Open Session :: Sensex ekes out tepid gains

WATCH :: Will Q4FY23 results of IT majors surprise the Street?