Stock Market Highlights: Sensex ends lower for third straight day, Nifty below 17,500 amid weak inflation data

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ONGC, Anand Rathi, Hariom Pipes, and more: Key stocks that moved most on April 13

Indian equity benchmarks gave up initial gains to end in red amid choppy trade on Wednesday. BSE Sensex closed 0.41 points lower at 58,338.93 and NSE Nifty50 settled at 17,475.70, down 0.31 percent. From ONGC to Anand Rathi, here are key stocks that moved the most in April 13 trading session:

Duroply Industries locked in 10% upper circuit

Duroply Industries shares were locked in 10 percent upper circuit after ace investor Porinju Veliyath & his wife Litty Thomas increased their shareholding in the company. Ace investor Porinju Veliyath & his wife Litty Thomas have bought 7,000 equity shares in the plywoods company which has nearly Rs 86 crore of market capitalisation, via open market transactions on April 12.

Closing bell: Anand Rathi, AU SFB, BEL among stocks that hit 52-week high

Inflation angst keeps European stocks under pressure

European shares slipped for a third straight session on Wednesday as anxiety about elevated inflation and its potential impact on upcoming earnings season dampened the mood. The pan-European STOXX 600 index fell 0.1%, with retail and travel and leisure stocks offsetting gains in oil & gas and mining shares. Investor worries over rising interest rates in response to galloping inflation have roiled global markets.

Closing Bell:  Sensex ends lower for third straight day, Nifty below 17,500 amid weak inflation data

Sensex ends 260.64 points lower, or 0.44 percent down at 58,315.73 while NSE Nifty ends at 17,465.80, down 64.50 points, or 0.37 percent lower.

Exports up nearly 20% to $42 bn in March; trade deficit widened to $18.5 bn

The country's exports in March 2022 rose 19.76 percent to USD 42.22 billion as compared to the year-ago period, according to a commerce ministry data released on Wednesday. Last month, imports grew 24.21 percent to USD 60.74 billion, it showed. The trade deficit in the month under review widened to USD 18.51 billion as compared to USD 13.64 billion in March 2021.

BSE Smallcap index rises 0.5 percent led by the Apollo Pipes, Reliance Industrial Infrastructure, Gandhi Special Tubes

Tata Steel arm completes acquisition of controlling stake in Rohit Ferro-Tech

Tata Steel Mining, an unlisted wholly-owned subsidiary of Tata Steel, has successfully completed the acquisition of a controlling stake of 90 percent in Rohit Ferro-Tech in accordance with the approved Resolution Plan under the Corporate Insolvency Resolution Process ('CIRP') of the Insolvency and Bankruptcy Code 2016 ('IBC').

Market Watch | Buy Kotak, PNB Housing: Hemen Kapadia, KRChoksey Securities

- Buy Kotak Mahindra Bank with a stop loss of Rs 1,765 and a target of Rs 1,840

- Buy PNB Housing Finance with a stop loss of Rs 395 and a target of Rs 455

- Buy Amara Raja Batteries with a stop loss of Rs 550 and a target of Rs 610

Govt allows state power generating cos to toll up to 25% of linkage coal

Fino Payments Bank to invest in Paysprint Private Limited

The board of Fino Payments Bank has approved a minority strategic investment by the Bank in New Delhi based Paysprint Private Limited. The bank will be investing up to 12.19 percent in fintech by way of subscription to its shares. Fino Payments Bank shares rose 2.95 percent at Rs 312.75 on the BSE.

Jindal Steel FY22 sales volume rise 23%

Jindal Stainless Limited’s (JSL) total sales volume for FY22 stood at 1,011,292 MT, up by 23 percent as compared to FY21. During Q4FY22, the company’s sales volume stood at 269,168 metric tonnes(MT), registering an uptick of 6 percent YoY.

English Oven owner Mrs Bectors tanks 9% post large deals

Shares of Mrs Bectors Food Specialities, which sells its products under its flagship brand 'Cremica' and 'English Oven' in India, tanked about 9 percent on Wednesday after large deals on bourses. As many as 9.85 lakh shares changed hands on BSE so far on Wednesday as against a daily average of 0.5 lakh shares in the past two weeks.

UK Data Watch | UK inflation jumps to a 30-year high of 7.0% in March

Market Watch | Buy United Spirits, UPL, says Gaba

Here are trading ideas from Prakash Gaba, prakashgaba.com

Buy United Spirits with a target of Rs 920-930 and a stop loss at Rs 898-900

Buy UPL with a target of Rs 850 and a stop loss at Rs 810

March Trade Data | Trade deficit widens by 35.7% 

Exports increase 19.8 percent to $42.22 billion in March. Imports rise 24.2 percent to $60.7 billion.

Buy Indian Hotels, NTPC: Shrikant Chouhan 

Here are two recommendations from Shrikant Chouhan of Kotak Securities: 

--Buy Indian Hotels for a target of Rs 270-275 with a stop loss at Rs 250 

--Buy NTPC for a target of Rs 165 a stop loss at Rs 150-151 

Buy Bharti Airtel, Shipa Medicare: Ashish Kyal

Ashish Kyal of Waves Strategy shares two trading calls: 

--Buy Bharti Airtel for a target of Rs 775 with a stop loss at Rs 740 

--Buy Shilpa Medicare for a target of Rs 516 with a stop loss at Rs 466 

What to expect from Infosys Q4 results today

Nifty50 gives up most of day's gains

The 50-scrip index left with a gain of 21.1 points or 0.1 percent at 17,551.4, more than 80 points below its five-day simple moving average. 

Hariom Pipe Industries makes a strong debut, shares list at 44% premium over issue price

The Hariom Pipe stock begins its journey on BSE at Rs 214 apiece, a premium of 39.9 percent over its issue price of Rs 153. On NSE, the stock debuted at Rs 220 apiece, a premium of 43.8 percent. (Read more)

Any correction in Infosys a good opportunity to buy: Deven Choksey

Deven Choksey of KRChoksey believes any correction in Infosys shares will be a good buying opportunity. Infosys and TCS will have a larger amount of order books to play, and tackle challenges related to attrition. 

Infosys slips into the red; all eyes on Q4 results today

Infosys shares down 0.3 percent at Rs 1,735.5 apiece on BSE, in a U-turn after rising to as high as Rs 1,759.5 in the first few minutes of the session. 

Analysts in a CNBC-TV18 expect the company to post sequential growth of 2.7 percent in dollar revenue and a 20 basis-point decline in margin to 23.3 percent.

They expect the company's FY23 guidance at 12-14 percent. (Read more)