HDFC Bank’s shares surged by 1.64% to reach an intra-day high of 1,471.60 following the announcement that the bank has entered into a binding term sheet to divest its entire equity stake in HDFC Education and Development Services Pvt. Ltd. The sale will be facilitated through a Swiss Challenge method, with subsequent definitive agreements anticipated between the purchaser and HDFC Bank.

JSW Steek, Tata Steel, Divis Lab, Shriram Transport Finance, Adani Ports and SEZ are the top gainers on NSE Nifty 50 whereas the top laggards include Eicher Motors, Titan Company, Bajaj Auto, LTI Mindtree, Nestle India.

Mahindra and Mahindra’s stock saw a slight uptick, reaching Rs 1,925, up by 0.19%, as the company reported sustained positive performance over the past few years. Notably, Mahindra has witnessed significant success with its major launches in the post-pandemic era, including the Thar, XUV700, and Scorpio N, all of which have garnered immense popularity in the Indian market.

Based in Chakan, the automaker achieved impressive sales figures in March this year, totaling 68,413 vehicles sold across the country, encompassing passenger vehicles (PVs), commercial vehicles (CVs), and tractors. These sales figures reflect both domestic sales and exports, resulting in a notable year-on-year (YoY) growth of 4%.

In the passenger vehicle segment, Mahindra recorded the sale of 40,631 utility vehicles (UVs) in the domestic market in March 2024, indicating a significant YoY growth of 13%. Comparatively, during the same period last year, Mahindra sold 35,997 PVs.

It’s worth noting that Mahindra exclusively focuses on UVs in the passenger vehicle space. Overall, the company dispatched 41,161 UVs in March this year, including both domestic and export sales

Also Read: Mahindra sells 40,631 SUVs in March– XUV700, Scorpio N, Thar drive sales

Commenting on the Gold and Crude Oil outlook Pranav Mer, VP – Research (Commodity & Currency) BlinkX and JM Financial said that Gold rises to yet record high above $2,280 per ounce in the overseas futures and Rs.69,487 per 10gm on MCX futures.

Mer also added that, Technically, we have already seen a rally of nearly 10% in the past 5-weeks, now we expect some profit-booking. However. the underlying trend still remains positive till support at Rs. 66,700 and Rs. 65,880 holds, upside potential seen till Rs. 70,550-72,000 in near-term.

“For crude oil, not much change on the fundamentals, but technically, the trend remains positive with support at Rs. 6,750/ 6,650, upside prices may test Rs. 7,100-7,180 levels,” Mer further said.

On Monday, April 1, shares of Hindustan Aeronautics Ltd (HAL) surged by almost 4% to reach a new 52-week high of Rs 3,454.35 each on the BSE. This rise came after the company disclosed that it achieved its highest-ever revenue from operations, surpassing ₹29,810 crore for the fiscal year 2024 (FY24).

The shares of NTPC jumps over 2% to the intra-day high of Rs 342.95 on the following new that On Monday, state-owned power giant NTPC announced a significant surge in coal despatch, recording a 55% growth, and nearly 50% expansion in output from its mines during the fiscal year 2023-24 compared to the previous year.

According to the company’s statement, it dispatched 34.15 million metric tons (MMT) of coal, while coal production reached 34.38 MMT by the end of March 31, 2024.

NTPC Ltd reported substantial growth of 55% in coal despatch from its captive mines during FY24, compared to the preceding year.

Regarding indices, the top 5 best-performing large caps on the Nifty 50, including Bajaj Auto and others, have delivered substantial returns ranging from 80% to 140% in FY24. Here are the top 5 best-performing large cap stocks on the Nifty 50 in FY24, along with the returns generated over the last 12 months.

Read More: Bajaj Auto, Tata Motors and Coal India among top five Index performers in FY24

FY24 proved to be a very special year for IPOs and the primary market with over 75 new issues, marking the highest count in two years. Propelled by strong demand for equities, particularly from an increasing number of domestic investors, this upsurge set the stage for hectic activity across the primary market.

Equity fundraising through IPOs saw a notable surge of 20% in FY24, with a total of 75 firms raising Rs 61,915 crore through main board IPOs during this period. This marked a significant increase from the Rs 52,116 crore raised by 37 IPOs in FY23.

Several highly anticipated IPOs, such as Tata Technologies, IREDA, JSW Infra and Cello World, Mankind Pharma among others, made their eagerly awaited debut. These IPOs garnered substantial subscriptions and recorded sterling gains on listing day, reflecting investor confidence in the offerings.

Read More: IPOs in FY24 help raise over Rs 61,900 crore: Fundraising up 20%, highest in two years

As the financial year 2024 (FY24) draws to a close, it is time to take stock .The Indian stock market had a rather belter of a year. New highs, records, blockbuster listings- you name it and the markets delivered this financial year.

The Nifty50 spiked up an impressive 28.6%, while the Sensex jumped 24.8% in FY24, outperforming most major market indices globally.

The Nifty, representing the top 50 blue-chip companies across various sectors, hit multiple record highs throughout FY24. Notably, it surpassed the 19,000-point mark in June, and further milestones were hit with the Index breaching 20,000 and 21,000 levels in September and December respectively.

Read Full Here: Stock Market surges 30% in FY24: New highs, fresh records and massive gains- All details from Dalal Street this fiscal

JSW Steel, Tata Steel, Adani Ports and SEZ, Shriram Finance, Apollo Hospitals are the top gainers on Nifty 50 index whereas the tht top laggards include Eicher Motors, Titan Company, Hero MotoCorp, LTI Mindtree, and Bharti Airtel.

Commenting on the bullion market outlook Rahul Kalantri, VP Commodities, Mehta Equities said that, Gold and silver gained last week amid easing inflation concerns in the U.S. and curb in geo-political tensions. The U.S. core PCE price index showed a growth of 0.3% in February month as per expectations and well below from the previous month’s growth of 0.5%. Personal spending surged by 0.8% against 0.2% in the previous month which supported gold and silver prices. The U.S. proposal for Gaza ceasefire in the UNSC last week and reducing tensions in the Middle-East are also supporting safe-haven demand for precious metals. However, strength in the dollar index and record weakness in the Japanese Yen have been limiting gains of precious metals.

Kalantri also added that We expect gold and silver prices to remain volatile this week ahead of the U.S. job data and Fed Chairman’s speech. Gold has support at $2240-2224 while resistance is at $2268-2280. Silver has support at $24.90-24.72 while resistance is at $25.28-25.42. In INR terms, gold has support at Rs67,740-67,440, while resistance is at Rs 68,380, 68,620. Silver has support at Rs74,840-74,080, and resistance at Rs75,840, 76,580.

DLF, Muthoot Finance, Tata Steel, ABB India, ICICI Prudential, Siemens, Oracle Financial Services, Larsen & Toubro, Indus Towers, Adani Ports, Pidilite Industries, Info Edge, Glenmark, Indian Hotels, Grasim, Interglobe Aviation, Zydus Lifesciences, Dixon Technologies, Tata Communications, and Cummins are the top stocks currently trading at their 52-week high.

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, remarked, “Following a period of bullish resurgence, the Bank Nifty index demonstrated strength by surpassing the 20-day moving average barrier set at 47,000, supported by substantial volumes. Despite this momentum, it encountered resistance near the 47,500 level. A clear breach above this resistance could potentially drive the index towards the 48,000 mark. Conversely, immediate support is observed within the 47,000-46,800 range. A definitive decline below this support level, particularly on a closing basis, may indicate a false breakout scenario.”

Commenting on the technical outlook of the Nifty, Rupak De, Senior Technical Analyst at LKP Securities, noted a significant rally pushing the index beyond the 22,500 mark after maintaining momentum above 22,100. He highlighted a clear breakout in consolidation on the daily timeframe, signaling increasing optimism. Despite this, the Nifty encountered initial resistance near its previous swing high of 22,526. De emphasized the need for the index to decisively surpass the 22,525 level to sustain the rally, with 22,200 potentially serving as short-term support on the downside.

Hindalo, JSW Steel, Bajaj Finserv, HDFC Bank, and Apollo Hospitals are the top gainers on NSE Nifty 50 whereas top laggards include Bharti Airtel, IndusInd Bank and HDFC Life Insurance.

The NSE Nifty 50 opens up by 0.57% at 22,455, while the BSE Sensex jumped 0.43% to 73,968.62 in the opening trade.

Commenting on Today’s Market outlook Markets Prashanth Tapse, Senior VP (Research), Mehta Equities said that, Markets are seen edging higher in early Monday trades on the back of a firm trend in the Gift Nifty index and optimism in other Asian indices. Investors are likely to resort to bargain hunting, and the recent reiteration by the US Fed that it is still looking at 3 rate cuts this year despite challenges from the inflation front is expected to keep the markets in good stead.

Tapse also adds that, While intra-day volatility could continue in the near term, the focus will slowly shift to fourth quarter corporate earnings which will start rolling in the next few day’s time. The Nifty options data suggests that the benchmark index is likely to be in a trading range of 21500-22600 zone. Our chart of the day suggests stocks like Adani Enterprises, Adani Port and Eicher Motors are expected to witness bullish trend with an interweek perspective.

The NSE has added Zee Entertainment in F&O on April 1, 2024.

Foreign institutional investors (FII) mopped shares worth net Rs 188.31 crore, while domestic institutional investors (DII) bought shares worth net Rs 2,691.52 crore on March 28, 2024, according to the provisional data available on the NSE.

On Monday morning, shares across the Asia-Pacific region are generally trading positively. The Asia Dow is experiencing a slight decline of 0.81%, while Japan’s Nikkei 225 is in negative territory, down by 1.17%. Conversely, Hong Kong’s Hang Seng index has risen by 0.91%, and the benchmark Chinese index, the Shanghai Composite, is up by 0.60%.

On Monday morning, WTI crude prices are currently at $83.14, showing a marginal increase of 0.02%, whereas Brent crude prices stand at $86.82, indicating a slight decline of 0.18%.

The US Dollar Index (DXY), which gauges the dollar’s worth against a selection of six foreign currencies, experienced a slight decrease of 0.05%, settling at 104.43.

The final quarter for U.S. stocks is wrapping up cautiously, with traders preparing for crucial inflation data following recent statements from the Federal Reserve suggesting a reluctance to reduce interest rates. According to Bloomberg, the Nasdaq Composite, dominated by tech stocks, closed down 20.06 points or 0.12% at 16,379.46. Meanwhile, the S&P 500 saw a modest gain of 5.86 points or 0.11% to reach 5,254.35, and the Dow Jones Industrial Average closed higher by a mere 47.29 points or 0.12% at 39,807.37.