April 6, 2022

Sensex, Nifty and Bank Nifty are all bearish today!

• BSE Sensex is down by 566.09 points (-0.94%), a closing price of 59,610.41.

• Nifty 50 plunged by almost 149.75 points (-0.83%), closing price landed at 17,805.65.

• Bank Nifty dipped by 435.10 points (-1.14%), closing price at 37,632.80.

All Nifty sectoral indices landed in the red today except for Nifty Metal, PSU Bank and Oil and gas.

BSE midcap and smallcap indices gained 0.41% and 0.38% each.

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Big News:

News Wrap:

Tata Power Surges 21% In 4 Days On Heavy Volume; Stock Hits Record High

The share prices of Tata power have risen intensively over the past four days and Rs 287.90, up 5 per cent on the BSE in Wednesday's intra-day trade. The stock prices of Tata Electric Utilities have rallied to 21% during the past four days. On Tuesday, it surpassed its previous high of Rs 269.70 recorded on October 19, 2021.

The trading volume at the counter nearly doubled with a combined around 69 million equity shares changing hands on the NSE and BSE.

Tata's Power'starget focus is on renewables, transmission and distribution including customer-centric businesses of solar rooftops, solar pumps, microgrids, electric vehicle (EV) charging, energy services, home automation, floating solar and others. The corporation is a leader in most renewable energy segments in the country.

Elon Musk Joins Twitter Board

The 9.2 per cent stake, worth nearly $3 billion, makes Elon Musk the biggest shareholder of Twitter, more than the 8.8 per cent stake held by the Vanguard Group, 8.4 per cent held by Morgan Stanley, and 2.2 per cent stake held by the company's co-founder Jack Dorsey.

The stake and a board seat are also likely to give Musk more freedom to propose tweaks and changes to the microblogging site

More to Know:

• Encome launches its official website encome.io One seamless place to discover, analyse and trade the hottest stocks.

• Future Retail, Amazon, Reliance dispute: Supreme Court orders resumption of arbitration.

•  India's first XE variant of COVID-19 case: Govt denies report

• T-Hub ties up with Renault Nissan's tech & biz centre for innovation challenges for startups.

• EnKash raises $20m in funding round.

• Petrol and diesel prices have crossed the Rs 100-mark in several areas across India.

• Bitcoin price plunges below $46,000, other cryptocurrencies down.