Market Analysis 30-04-2021
The market today began with a dip in Sensex and Nifty. As the market moved, Nifty continued to oscillate and ended red at 14,650. IT and Pharma stocks increased while banks and financials made the top drags.
Top Stories of the day:
Biocon: Shares of Biocon Ltd. fell 3.16 per cent to Rs 381.5 in Friday’s session as of 02:15PM (IST) even as the equity benchmark Sensex traded 797.69 points lower at 48968.25.
Lupin: Shares of Lupin Ltd. gained 0.81 per cent to Rs 1062.95 in Friday’s trade as of 11:49AM (IST). It hit a high of Rs 1065.0 and low of Rs 1049.55 during the session.
HCL Tech: The IT company’s operating performance in the quarter is likely to be underwhelming as analysts expect consolidated operating margin to shrink 430-470 basis points on a sequential basis because of wage hikes undertaken by the company.
Closing bell:
After ending in green for five days in a row, Nifty ends in red at 14650 on Friday. The drag in the financials and RIL let the market move down. However, the IT and the pharma stocks held it back together preventing a major fall.