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Sensex rose 20.59 points to close at 74,248.22, while the Nifty 50 settled flat at 22,513.70. Nifty 50 formed a small positive candle on the daily chart with minor upper and lower shadows. “This market action signals narrow range movement in the market near new all-time highs.

TLDR:

The first quarter of the year was a rollercoaster. Bitcoin (BTC) breezed past its 2021 price peak and traded above $73,000 but also dipped below $61,000. However, the flagship crypto has gathered momentum, consolidating as its halving nears.

Buy or sell stocks for today: The Indian stock market ended flat on Friday after a weak opening. The Nifty 50 index finished marginally lower at the 22,513 level, the BSE Sensex added 20 points and closed at the 74,248 mark while the Bank Nifty index gained 432 points and finished at the 48,493 level.

Edited excerpts: Compared to 2017-18, I believe this market cycle is stronger due to robust earnings from midcap and smallcap companies, supported by solid fundamentals. The rally back then seemed more frothy as it was primarily driven by fund flows. This time it is a combination of fund flows and strong fundamentals.

February for a 23rd consecutive month, data showed on Monday, suggesting higher prices kept up pressure on consumers' spending appetite. The wage trend is among the key data the Bank of Japan examines for pay and inflation outlooks, crucial factors for the central bank to consider in deciding whether to unwind its stimulus policy further.

Indian stock market today: A total of 4 stocks have been banned for trade on Monday, April 08, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they crossed 95% of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

New Delhi, The number of drunken driving challans issued in the first three months of 2024 saw a staggering rise of 1,550 per cent compared to the same period in 2022, according to Delhi Traffic Police. During the year 2024, from January 1 to March 31, the Delhi Traffic Police initiated special drives against drunken driving and booked 6,591 violators compared to 399 in 2022 in the same period, the traffic police said in a statement on Sunday. Compared to the corresponding period last year, a rise of 22 per cent was witnessed with 5,384 challans issued for this offence in 2023, they said. This concerning trend underscores the urgent need for increased awareness and stringent enforcement of traffic regulations to ensure public safety on Delhi's roads, the police said.

BSE Sensex added about 0.8% each for the week. Financial services, the highest weighted sub-index, gained 2.70% this week, its best in four months, led by a rise in top private lender HDFC Bank after it posted a sequential growth in deposits in the March quarter.

HDFC Bank and Life Insurance Corporation of India (LIC) emerging as the biggest gainers in line with an overall positive trend in equities. On the other hand, six companies from the top 10 pack took a Rs 78,127.48 crore hit to their market valuation with index major Reliance Industries accounting for the majority of the losses.

This sector was for long considered an extension of the Construction sector. However, several changes have taken place over the last few years:

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says: “The way I look at it, infra will come back with a strong set of numbers and so will defence. Apart from that, I am looking at a good set of numbers from BFSI as well as real estate. These are the four-five sectors which definitely will come back with good numbers. As far as other sectors are concerned, IT and FMCG will be a mixed bag. I do not think we will see a major pickup in earnings in IT. Cement, again, will be a little subdued.” What are you making of the resilience of India equity markets? The fact that crude is already at $91, but the Indian markets are not really absorbing that hit so far and even the central bank seems not perturbed by the sudden spike that one has seen. Sudip Bandyopadhyay: Crude at $91 does not augur well for India. However, this has just happened and crude prices have been benign for a very long time and this sudden shooting up is predominantly on the back of two things. One is what is happening in Russia and the Gulf and also the Chinese demand suddenly picking up with possible economic recovery in China. Now, the combined effect of all these factors and somewhere I am sure the calculations are that geopolitical tensions will ease and production in Russia as well as the Gulf will stabilise.

Nilesh Shah while underscoring India's favourable economic situation due to cheaper oil prices and strong GDP despite geopolitical tensions. To prove that “god exists upstairs and is an Indian", Nilesh Shah, referred to double-digit oil prices in India despite the Israel-Hamas war, Red Sea disturbance and other geopolitical tensions. He also mentioned US Fed hints on rate cuts, and strong GDP growth rate numbers.

Bonk (BONK) has seen a notable decline of 4% overnight, stirring interest in its market dynamics and leading to speculations about potential dip-buying opportunities.

Poodl Inu is a new meme coin that is currently hosting a sizzling hot presale. 

Bitcoin (BTC) halving is expected later this month but a confluence of factors is likely to set the cryptocurrency’s fourth such event apart from prior occurrences.

MI vs DC IPL 2024: Five-time IPL champions Mumbai Indians kicked off their IPL 2024 campaign on a shaky note as they faced three consecutive losses and are still waiting for their first victory in the season so far. Hardik Pandya is leading MI from the front and looks confident despite early losses. Ahead of the MI vs DC match at Wankhede Stadium, Mumbai, MI batter Naman Dhir expressed confidence in his team and said that the team is very much in the game and will hopefully play in the IPL 2024 finals.

Amazon has introduced ‘Bazaar’, a “special store" focused on trendy and affordable lifestyle products under ₹600. With this launch, Amazon aims to compete against Walmart-owned Flipkart and Reliance's Ajio. The US-based firm had initiated the onboarding process for sellers, urging them to list unbranded fashion and lifestyle products including apparel, watches, shoes, jewellery, etc below ₹600, reported Economic Times a month ago.

Stocks to buy or sell: The Indian stock markets registered gains for the week gone by as they remained well supported by strong macroeconomic data in the form of PMI numbers. After record GST collection, Q4 results 2024 of the listed companies are eagerly awaited as the market is expecting satisfactory growth in the quarter ended March 2024. The growth story to continue further in FY25 was seconded by the Reserve Bank of India (RBI) when it left key rates unchanged in the RBI monetary policy meeting last week.