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Sensex Zooms 661 Points, Nifty Ends Above 14,500; M&M and Bajaj Finserv Top Gainers
Tue, 13 Apr Closing | Yash Vora, TM Team

Indian share markets witnessed most of the buying interest during closing hours today and ended on a strong note.

Benchmark indices extended gains in late afternoon deals after the Indian government fast-tracked emergency approvals for foreign produced Covid-19 vaccines.

At the closing bell, the BSE Sensex stood higher by 661 points (up 1.4%).

Meanwhile, the NSE Nifty closed up by 194 points (up 1.4%).

M&M and Bajaj Finserv were among the top gainers today.

TCS and Dr Reddy's Lab, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,553, up by 210 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.5% and 1.2%, respectively.

On the sectoral front, gains were largely seen in the automobile sector, banking sector and metal sector.

IT stocks and healthcare stocks, on the other hand, witnessed selling pressure.

Shares of Sobha and Laurus Labs hit their respective 52-week highs today.

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Asian stock markets ended on a mixed note today. The Hang Seng ended up by 0.3% while the Shanghai Composite stood lower by 0.5%. The Nikkei stood higher by 0.7%.

US stock futures are trading marginally higher today indicating a positive opening for Wall Street indices with Dow Futures trading up by 40 points (up 0.1%).

The rupee is trading at 75.35 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.3% today at Rs 46,525 per 10 grams.

Bitcoin hit a record of US$ 62,741 today, extending its 2021 rally to new heights a day ahead of Coinbase's initial public offering (IPO).

Speaking of the current stock market scenario, note that rising Covid-19 infections and fears of another lockdown spooked investors on Monday which dragged the benchmark indices lower by 3.5%.

In his latest video for Fast Profits Daily, India's # trader Vijay Bhambwani talks about the real reason behind Monday's market crash and how you should react to it.

Tune in to the video below to find out more:

In news from the finance sector, shares of Muthoot Finance gained 4% intraday today after the company's board of directors approved payment of an interim dividend of Rs 20 per equity share.

Shareholders, who are entitled as on close of business hours on April 23, 2021, would be entitled to receive the interim dividend, the company said. The interim dividend will be paid to the shareholders within 30 days from the date of declaration.

Muthoot Finance share price ended the day up by 0.9%.

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In news from the IT sector, Tata Consultancy Services (TCS) was among the top buzzing stocks today.

India's largest IT services player on Monday reported a strong set of numbers for its fourth quarter of FY21.

TCS reported a 6.3% sequential growth in March quarter, consolidated profit at Rs 92.5 billion, driven by better-than-expected growth in revenue and operating income.

Revenue was up by 5.9% year-on-year and 4.2% quarter-on-quarter at Rs 43.7 billion compared to the previous quarter backed by ramp-up of large deals, cross-currency tailwind and recovery in demand.

The revenue in dollar terms grew by 5% sequentially to US$ 5,989 million in the quarter ended March 2021, against 5.1% growth seen in previous quarter.

The company's earnings have benefitted from the surge in demand for digital services such as migration to cloud over the past 12 months triggered by the Covid-19 pandemic.

Note that TCS' order book at US$ 9.2 billion in Q4FY21 was the highest ever total contract value (TCV) in a quarter, taking the total yearly order book at US$ 31.6 billion, a 17.1% growth compared to previous financial year.

The company also declared a final dividend of Rs 15 per share.

TCS share price ended the day down by 4.2%.

Speaking of stocks, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these four stages.

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Moving on to the news from oil and gas sector...

India has emerged as the top buyer of US crude oil in first quarter of 2021. In FY21, Indian refiners were the second largest buyer of US crude oil, snapping up 2.9 lakh barrels per day which was 26% more than FY20.

India is world's third largest oil consumer and imports 85% of oil needs from other countries.

Currently, India is looking at alternate sources of crude amidst a spat with Saudi Arabia, the world's largest producer.

As Saudi Arabia staved off India's request to boost production to cool prices, Indian refiners replaced some of the Saudi volumes with US cargoes

This reflected in a marked change in crude sourcing with India becoming the biggest buyer of US crude, importing an average of 4.2 lakh barrels per day of US crude between January and March. This was more than the volumes bought by South Korea at 3.1 lakh barrels per day and China with 3 lakh barrels per day, industry data showed.

As part of its crude sourcing diversification strategy, Indian refiners have recently bought crude from new producers such as Guyana.

Note that Iraq is India's top supplier of crude. In the past, middle east has been the favourite crude sourcing destination for Indian refiners because of close proximity and lower freight rates.

We will keep you updated on the latest developments from this space. Stay tuned.

Speaking of crude oil, note that there has been a big geopolitical development recently that you as an astute trader should know about.

The Indian government has decided to reduce the country's dependence on crude oil imports from Saudi Arabia.

This has big implications for the economy in the long-term but what about the short-term? Should we change the way we trade crude oil?

India's #1 trader Vijay Bhambwani answers these questions in one of his videos for Fast Profits Daily.

You can watch the video here: Time to Change Our Trading Blueprint?

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Stock Market Updates

Indian Indices Extend Gains; Bajaj Auto & Bajaj Finance Surge 4% (Today's Market)

May 18, 2021 12:30 pm

The BSE Sensex is trading up by 641 points, while the NSE Nifty is trading up by 190 points.

Sensex Zooms 650 Points, Reclaims 50,000 Mark; Bajaj Finance & IndusInd Bank Top Gainers (Today's Market)

May 18, 2021 09:30 am

Indian share markets open strong. The BSE Sensex opened up by 629 points, while the Nifty is trading higher by 192 points.

BLISS GVS PHARMA Share Price Up by 6%; BSE HEALTHCARE Index Up 0.4% (Today's Market)

May 18, 2021 09:48 AM

BLISS GVS PHARMA share price is trading up by 6% and its current market price is Rs 115. The BSE HEALTHCARE is up by 0.4%. The top gainers in the BSE HEALTHCARE Index are BLISS GVS PHARMA (up 6.2%) and SHILPA MEDICARE (up 7.3%). The top losers are APOLLO HOSPITALS and ABBOTT INDIA (down 0.1%).

FEDERAL BANK Share Price Up by 5%; BSE BANKEX Index Up 1.6% (Today's Market)

May 18, 2021 09:40 AM

FEDERAL BANK share price is trading up by 5% and its current market price is Rs 86. The BSE BANKEX is up by 1.6%. The top gainers in the BSE BANKEX Index is FEDERAL BANK (up 5.3%).

HINDUSTAN COPPER Share Price Up by 5%; BSE METAL Index Up 2.7% (Today's Market)

May 18, 2021 09:38 AM

HINDUSTAN COPPER share price is trading up by 5% and its current market price is Rs 179. The BSE METAL is up by 2.7%. The top gainers in the BSE METAL Index is HINDUSTAN COPPER (up 5.2%).

ADANI TRANSMISSION at All Time High; BSE POWER Index Up 2.0% (Today's Market)

May 18, 2021 09:34 AM

ADANI TRANSMISSION share price has hit an all time high at Rs 1,245 (up 3.5%). The BSE POWER Index is up by 2.0%. Among the top gainers in the BSE POWER Index today are ADANI TRANSMISSION (up 3.5%) and SIEMENS (up 0.2%). The top losers include KALPATARU POWER (down 0.2%) and RELIANCE INFRA (down 1.1%).

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