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| As on Apr 19, 2024 12:00 AM |
Your results on : Mid Session |
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| The domestic equity benchmarks traded with substantial gains in mid-afternoon trade. The Nifty traded near the 22,050 mark after hitting the day's low of 21,777.65 in early trade. Financial services shares advanced after declining for the fourth consecutive trading session. At 14:26 IST, the barometer index, the S&P BSE Sensex, was up 527.11 points or 0.73% to 73,016.10. The Nifty 50 index added 147.70 points or 0.67% to 22,143.55. In the broader market, the S&P BSE Mid-Cap index shed 0.40% while the S&P BSE Small-Cap index gained 0.12%. The market breadth was negative. On the BSE, 1,720 shares rose and 2,005 shares fell. A total of 130 shares were unchanged. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Buzzing Index: The Nifty financial services index slipped 1.11% to 21,132.25. The index has rallied 2.89% in the past four trading sessions. Bajaj Finance (up 2.14%), HDFC Bank (up 1.95%), Power Finance Corporation (up 1.09%), IDFC (up 1.07%) and Bajaj Finserv (up 0.96%), ICICI Bank (up 0.96%), Kotak Mahindra Bank (up 0.52%), State Bank of India (up 0.38%), LIC Housing Finance (up 0.36%) and Axis Bank (up 0.27%) advanced. On the other hand, ICICI Prudential Life Insurance Company (down 2.5%), HDFC Asset Management Company (down 0.99%) and HDFC Life Insurance Company (down 0.82%) declined. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.53% to 7.218 from previous close of 7.180. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.5200, compared with its close of 83.5250 during the previous trading session. MCX Gold futures for 5 June 2024 declined 0.12% to Rs 72,595. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 106.10. The United States 10-year bond yield declined 1.40% to 4.584. In the commodities market, Brent crude for June 2024 settlement rose 5 cents or 0.06% to $87.16 a barrel. Stocks in Spotlight: Aurionpro Solutions was locked in upper circuit of 5% after its board approved acquisition of 67% stake in Mumbai-based banking and insurance focused PaaS startup, Arya.ai, operated through legal entity Lithasa Technologies. Motilal Oswal Financial Services rallied 7.60% after the company said that its board will meet on Friday, 26 April 2024, to consider a proposal for declaration of bonus equity shares. Vesuvius India added 3.92% after the firm inaugurated a new mould flux manufacturing plant in Visakhapatnam with an increase in investment outlay to upto Rs 1,000 crore to further strengthen its manufacturing capabilities in India.
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| The domestic equity benchmarks pared all losses and traded with decent gains in afternoon trade. The Nifty traded near the 22,050 mark after hitting the day's low of 21,777.65 in early trade. Metal, private bank and financial services shares advanced while realty, media and pharma stocks declined. At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 226.24 points or 0.30% to 72,696.41. The Nifty 50 index added 50.25 points or 0.23% to 22,046.10. In the broader market, the S&P BSE Mid-Cap index shed 0.49% while the S&P BSE Small-Cap index gained 0.13%. The market breadth was negative. On the BSE, 1,648 shares rose and 2,025 shares fell. A total of 147 shares were unchanged. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Gainers & Losers: Grasim Industries (up 1.77%), HDFC Bank (up 1.72%), ITC (up 1.52%), Mahindra & Mahindra (up 1.44%) and Apollo Hospitals Enterprise (up 1.41%) were major Nifty gainers. Bajaj Auto (down 2.77%), HCL Technologies (down 1.38%), Tata Motors (down 1.32%), Nestle India (down 1.23%) and Bharat Petroleum Corporation (down 1.20%) were major Nifty losers. Stocks in Spotlight: Infosys shed 0.81%. The IT major's consolidated net profit jumped 30.51% to Rs 7,969 crore in Q4 FY24 from Rs 6,106 crore in Q3 FY24. Revenue from operations declined 2.31% to Rs 37,923 crore in Q4 FY24 as compared with Rs 38,821 crore in Q3 FY24. In terms of guidance, the company has revised its FY25 revenue guidance to 1%-3% in constant currency and operating margin guidance at 20%-22%. Bajaj Auto slipped 2.77%. The auto major?s standalone net profit jumped 35.11% to Rs 1,936 crore on 28.97% rise in revenue from operations to Rs 11,484.68 crore in Q4 FY24 over Q4 FY23. ICICI Securities rose 0.61%. The broking firm?s consolidated net profit zoomed 104.3% to Rs 536.53 crore in Q4 FY24 as against Rs 262.68 crore recorded in Q4 FY23. Total income was at Rs 1,544.44 crore in the quarter ended 31 March 2024, registering a growth of 74.5% year on year (YoY). ITC added 1.52% after the company announced that its wholly owned subsidiary, ITC Infotech India has entered into Share Purchase Agreement to acquire 100% stake in Blazeclan Technologies for total consideration of Rs 485 crore. Network18 Media & Investments declined 2.58% after the company?s consolidated net loss widened to Rs 206.92 crore in Q4 FY24 as against a Rs 35.19 crore recorded in Q4 FY23. Revenue from operations climbed 63.06% year on year to Rs 2,419.28 crore in the quarter ended 31 March 2024. Global Markets: European and Asian stocks declined on Friday as reports of Israeli strikes on Iran further ramped up concerns over worsening geopolitical conditions in the Middle East. Israel, early Friday morning local time, launched missiles in a retaliatory strike against Iran, as per reports. The missile launches follow Iran's attack last Saturday. U.S. stocks closed mixed on Thursday in another jittery day of trade, as investors focused on rising bond yields and uncertain oil prices.
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| The frontline indices further pared losses to trade near the flar line in early afternoon trade. The Nifty climbed above the 21,950 mark. Media shares declined after advancing in the past two trading sessions. At 12:30 IST, the barometer index, the S&P BSE Sensex, was down 54.93 points or 0.08% to 72,424.80. The Nifty 50 index lost 24.25 points or 0.11% to 21,971.60. The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index dropped 0.80% while the S&P BSE Small-Cap index fell 0.31%. The market breadth was weak. On the BSE, 1,411 shares rose and 2,231 shares fell. A total of 131 shares were unchanged. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.80% to 13.80. The Nifty 25 April 2024 futures were trading at 21,963.00, at a discount of 8.6 points as compared with the spot at 21,971.60. The Nifty option chain for the 25 April 2024 expiry showed maximum Call OI of 101.5 lakh contracts at the 23,000 strike price. Maximum Put OI of 72 lakh contracts were seen at 22,000 strike price. Buzzing Index: The Nifty Media index slipped 1.12% to 1,868.35. The index has rallied 2.35% in the past two trading sessions. Network 18 Media & Investments (down 3.41%), Nazara Technologies (down 2.84%), Dish TV India (down 1.98%), TV18 Broadcast (down 1.91%), Sun TV Network (down 1.44%), Zee Entertainment Enterprises (down 1.1%), PVR Inox (down 0.49%), Saregama India (down 0.12%) declined. On the other hand, Tips Industries (up 0.7%), Hathway Cable & Datacom (up 0.68%) edged higher. Network18 Media & Investments slipped 3.41% after the company?s consolidated net loss widened to Rs 95.95 crore in Q4 FY24 as against a Rs 36.78 crore recorded in Q4 FY23. Revenue from operations climbed 63.06% year on year to Rs 2,419.28 crore in the quarter ended 31 March 2024. Stocks in Spotlight: Indo Count Industries rose 0.30%. The company said that its American subsidiary has acquired the global brand 'Wamsutta? (including trademarks rights associated with the brand) from Beyond Inc. ICICI Securities rose 0.41%. The broking firm?s consolidated net profit zoomed 104.3% to Rs 536.53 crore in Q4 FY24 as against Rs 262.68 crore recorded in Q4 FY23. Total income was at Rs 1,544.44 crore in the quarter ended 31 March 2024, registering a growth of 74.5% year on year (YoY).
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| The benchmark indices pared some losses but traded with minor cuts in mid-morning trade. The Nifty climbed above the 21,900 level. PSU Bank shares witnessed selling pressure for the fifth consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, was down 322.47 points or 0.44% to 72,166.52. The Nifty 50 index dropped 93.85 points or 0.43% to 21,902. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index dropped 1.23% while the S&P BSE Small-Cap index fell 0.81%. The market breadth was weak. On the BSE, 1,122 shares rose and 2,420 shares fell. A total of 128 shares were unchanged. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Buzzing Index: The Nifty PSU Bank index slipped 1.53% to 6,846.90. The index tumbled 6.08% in five trading sessions. Canara Bank (down 2.7%), Punjab & Sind Bank (down 2.1%), Punjab National Bank (down 1.89%), Union Bank of India (down 1.82%), Bank of Baroda (down 1.81%), Bank of India (down 1.6%), UCO Bank (down 1.59%), Bank of Maharashtra (down 1.47%), Indian Bank (down 1.4%) and Central Bank of India (down 1.29%) edged lower. Stocks in Spotlight: ITC rose 1.28%. The company announced that its wholly owned subsidiary, ITC Infotech India has entered into Share Purchase Agreement to acquire 100% stake in Blazeclan Technologies for total consideration of Rs 485 crore. Mahindra Lifespace Developers declined 1.17%. The realtor said that it has sold homes worth Rs 350 crore in two days at Mahindra Zen, which is Bengaluru?s first ?net zero waste + energy? residential project. Global Markets: Asian stocks are trading lower on Friday as reports of Israeli strikes on Iran further ramped up concerns over worsening geopolitical conditions in the Middle East. Israel, early Friday morning local time, launched missiles in a retaliatory strike against Iran, as per reports. The missile launches follow Iran's attack last Saturday. U.S. stocks closed mixed on Thursday in another jittery day of trade, as investors focused on rising bond yields and uncertain oil prices.
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| The key equity benchmarks continued to trade with limited losses in morning trade. The Nifty traded below the 21,900 level. Realty stocks declined for fifth straight day. At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 374.90 points or 0.52% to 72,114.09. The Nifty 50 index dropped 133.80 points or 0.61% to 21,862.05. In the broader market, the S&P BSE Mid-Cap index dropped 1.12% while the S&P BSE Small-Cap index fell 0.79%. The market breadth was weak. On the BSE, 1,080 shares rose and 2,287 shares fell. A total of 158 shares were unchanged. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Earnings Today: Wipro, HDFC Asset Management Company, Jio Financial Services, Hindustan Zinc, Elecon Engineering, KP Green Engineering, Sejal Glass, Rajnish Wellness, Roselabs Finance, Rajnish Retail, Amal, Benares Hotels, Sybly Industries, and VL E-Governance & IT Solutions will announce their quarterly results later today. Buzzing Index: The Nifty Realty index slipped 1.44% to 919.30. The index tumbled 4.33% in five trading sessions. Phoenix Mills (down 4.36%), Sobha (down 2.57%), Sunteck Realty (down 1.89%), DLF (down 1.83%), Godrej Properties (down 1.45%), Brigade Enterprises (down 1%), Oberoi Realty (down 0.98%), Macrotech Developers (down 0.85%), Mahindra Lifespace Developers (down 0.53%) edged lower. Stocks in Spotlight: SJVN declined 2.39%. The company said that its wholly owned subsidiary, SJVN Green Energy has incorporated a joint venture company with Assam Power Distribution Company named, SGEL Assam Renewable Energy. Dhanlaxmi Bank shed 1.85%. The bank said that the Reserve Bank of India (RBI) has granted its approval for the appointment of Ajith Kumar K.K as the managing director & CEO of the bank for a period of 3 three years.
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| The key equity benchmarks traded with moderate losses in early trade. The Nifty traded below the 22,000 level. All the sectoral indices were traded in the red with PSU bank, IT and media stocks decline the most. At 09:28 IST, the barometer index, the S&P BSE Sensex, was down 460.55 points or 0.64% to 72,028.44. The Nifty 50 index dropped 145.30 points or 0.66% to 21,850.55. In the broader market, the S&P BSE Mid-Cap index dropped 1.09% while the S&P BSE Small-Cap index fell 0.99%. The market breadth was weak. On the BSE, 671 shares rose and 2,114 shares fell. A total of 90 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 4,260.33 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,285.52 crore in the Indian equity market on 18 April, provisional data showed. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.54% to 7.219 from previous close of 7.180. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.5250, compared with its close of 83.5100 during the previous trading session. MCX Gold futures for 3 May 2024 rose 0.35% to Rs 73,271. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 106.20. The United States 10-year bond yield declined 2.07% to 4.553. In the commodities market, Brent crude for June 2024 settlement rose $ 1.73 or 1.99% to $88.84 a barrel. Stocks in Spotlight: Infosys declined 2.22%. The IT major's consolidated net profit jumped 30.51% to Rs 7,969 crore in Q4 FY24 from Rs 6,106 crore in Q3 FY24. Revenue from operations declined 2.31% to Rs 37,923 crore in Q4 FY24 as compared with Rs 38,821 crore in Q3 FY24. In terms of guidance, the company has revised its FY25 revenue guidance to 1%-3% in constant currency and operating margin guidance at 20%-22%. Bajaj Auto slipped 2.14%. The auto major?s standalone net profit jumped 35.11% to Rs 1,936 crore on 28.97% rise in revenue from operations to Rs 11,484.68 crore in Q4 FY24 over Q4 FY23. Indus Towers fell 0.86%. NTPC Green Energy Limited (NGEL) and Indus Towers signed a Memorandum of Understanding (MoU), to address the need for pacing green energy objectives and the GoI?s efforts towards carbon neutral economy. The MoU is to explore a joint development of grid connected Renewable Energy based Power Projects including Solar, Wind, Energy storage etc. and/or solutions thereof. Global Market: Asian stocks are trading lower on Friday as reports of Israeli strikes on Iran further ramped up concerns over worsening geopolitical conditions in the Middle East. Israel, early Friday morning local time, launched missiles in a retaliatory strike against Iran, as per reports. The missile launches follow Iran's attack last Saturday. U.S. stocks closed mixed on Thursday in another jittery day of trade, as investors focused on rising bond yields and uncertain oil prices.
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| The key equity barometers extended losses in the mid-afternoon trade. The Nifty slipped below the 22,100 level. FMCG stocks declined after rising in the previous trading session. Trading was volatile due to the expiry of weekly index options on the NSE. At 14:32 IST, the barometer index, the S&P BSE Sensex, was down 186.19 points or 0.26% to 72,757.49. The Nifty 50 index lost 52.05 points or 0.24% to 22,095.85. The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.34% while the S&P BSE Small-Cap index gained 0.69%. The market breadth was positive. On the BSE, 2,191 shares rose and 1,582 shares fell. A total of 135 shares were unchanged. Economy: The International Monetary Fund raised India?s FY25 GDP growth forecast by 30 bps to 6.8% from its January forecast of 6.5%, citing bullish domestic demand conditions and a rising working-age population. IMF sees India's FY26 GDP growth at 6.5%. The global financial agency sees India's retail inflation at 4.6% in FY25 and 4.2% in FY26. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Numbers to Track: The yield on India's 10-year benchmark federal paper fell 0.36% to 7.167 from previous close of 7.193. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.5350, compared with its close of 83.6150 during the previous trading session. MCX Gold futures for 5 June 2024 rose 0.09% to Rs 72,821. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.13% to 105.82. The United States 10-year bond yield declined 0.28% to 4.571. In the commodities market, Brent crude for June 2024 settlement fell 53 cents or 0.61% to $86.76 a barrel. Buzzing Index: The Nifty FMCG index declined 0.46% to 53,155.55. The index rose 0.43% in the previous trading session. Nestle India (down 3.39%), Britannia Industries (down 0.96%), Colgate-Palmolive (India) (down 0.95%), ITC (down 0.68%), Balrampur Chini Mills (down 0.64%), Radico Khaitan (down 0.52%), United Breweries (down 0.32%) slipped. On the other hand, Procter & Gamble Hygiene and Health Care (up 1.32%) ,Tata Consumer Products (up 0.74%) and United Spirits (up 0.66%) edged higher.
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| The domestic equity barometers traded sideways in afternoon trade. The Nifty traded above the 22,150 mark. Metal, media and PSU bank shares advanced while healthcare, FMCG, and financial services stocks declined. Trading was volatile due to the expiry of weekly index options on the NSE. At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 55.99 points or 0.05% to 72,944.63. The Nifty 50 index rose 32.05 points or 0.14% to 22,179.95. In the broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.70% while the S&P BSE Small-Cap index gained 0.94%. The market breadth was strong. On the BSE, 2,411 shares rose and 1,309 shares fell. A total of 148 shares were unchanged. Economy: The International Monetary Fund raised India?s FY25 GDP growth forecast by 30 bps to 6.8% from its January forecast of 6.5%, citing bullish domestic demand conditions and a rising working-age population. IMF sees India's FY26 GDP growth at 6.5%. The global financial agency sees India's retail inflation at 4.6% in FY25 and 4.2% in FY26. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Gainers & Losers: Bharti Airtel (up 4.94%), Power Grid Corporation of India (up 2.75%), Hindalco Industries (up 2.42%), Mahindra & Mahindra (up 2.33%) and Bajaj Auto (up 2.06%) were major Nifty gainers. Nestle India (down 3.38%), Apollo Hospitals Enterprise (down 1.40%), Axis Bank (down 1.15%), HCL Technologies (down 0.69%) and Titan Company (down 0.57%) were major Nifty losers. Stocks in Spotlight: Just Dial surged 13.53% after the company?s net profit jumped 38.02% to Rs 115.65 crore on 16.23% rise in revenue from operations to Rs 270.27 crore in Q4 FY24 over Q4 FY23. Angel One shed 0.06%. The brokerage company reported 27.34% rise in consolidated net profit (from continuing operations) to Rs 339.95 crore in Q4 FY24 as against Rs 266.97 crore recorded in Q4 FY23.Total income climbed 63.46% to Rs 1,358.54 crore in Q4 FY24 from Rs 831.09 crore recorded in the corresponding quarter previous year. Biocon gained 3.61% after the company has signed a licensing and supply agreement with Biomm S.A., for the commercialization of Semaglutide (gOzempic), which is used to improve glycemic control in adults with type-2 diabetes. Power Grid Corporation of India advanced 2.70% after its board has approved the raising of bonds as POWERGRID bonds issue(s) upto Rs 12,000 crore during FY 2024-25. Hathway Cable & Datacom jumped 5.68% after the cable TV & fiber internet provider reported consolidated net profit of Rs 34.57 crore in Q4 FY24 as against net loss of Rs 14.62 crore posted in Q4 FY23. Revenue from operations rose 7.35% year on year (YoY) to Rs 493.37 crore in the quarter ended 31 March 2024. Global Markets: Markets in Europe and Asia advanced on Thursday. Investors will assess Australia?s unemployment rate, which is one of the metrics the country?s central bank weighs when considering monetary policy. US stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious US Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings. The U.S. economy grew ?slightly? over the past six weeks while price increases moved at a ?modest? pace and employment showed ?slight? gains as well, the Federal Reserve said in its latest Beige Book report filed Wednesday.
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| The benchmark indices traded with substantial gains in the early afternoon trade. The Nifty climbed above the 22,300 level. Realty shares gained after declining in the past three trading sessions. Trading was volatile due to the expiry of weekly index options on the NSE. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 487.57 points or 0.67% to 73,431.25. The Nifty 50 index jumped 162.90 points or 0.74% to 22,310.80. The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 1.05% while the S&P BSE Small-Cap index gained 1.29%. The market breadth was strong. On the BSE, 2,572 shares rose and 1,110 shares fell. A total of 136 shares were unchanged. Economy: The International Monetary Fund raised India?s FY25 GDP growth forecast by 30 bps to 6.8% from its January forecast of 6.5%, citing bullish domestic demand conditions and a rising working-age population. IMF sees India's FY26 GDP growth at 6.5%. The global financial agency sees India's retail inflation at 4.6% in FY25 and 4.2% in FY26. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 3.96% to 12.12. The Nifty 25 April 2024 futures were trading at 22,325.25, at a premium of 14.45 points as compared with the spot at 22,310.80 The Nifty option chain for the 25 April 2024 expiry showed maximum Call OI of 57.5 lakh contracts at the 23,000 strike price. Maximum Put OI of 48.6 lakh contracts were seen at 22,000 strike price. Buzzing Index: The Nifty Realty index jumped 1.32% to 950.10. The index fell 2.40% in past three trading sessions. Brigade Enterprises (up 5.99%), Prestige Estates Projects (up 3.2%), Phoenix Mills (up 3.02%), Macrotech Developers (up 2.57%), Sunteck Realty (up 2.24%), Sobha (up 1.24%), Mahindra Lifespace Developers (up 0.15%) and DLF (up 0.02%) advanced. Stocks in Spotlight: Power Grid Corporation of India rallied 3.55% after its board has approved the raising of bonds as POWERGRID bonds issue(s) upto Rs 12,000 crore during FY 2024-25. Angel One advanced 1.16% after the brokerage company reported 27.34% rise in consolidated net profit (from continuing operations) to Rs 339.95 crore in Q4 FY24 as against Rs 266.97 crore recorded in Q4 FY23.Total income climbed 63.46% to Rs 1,358.54 crore in Q4 FY24 from Rs 831.09 crore recorded in the corresponding quarter previous year. Biocon gained 2.58% after the company has signed a licensing and supply agreement with Biomm S.A., for the commercialization of Semaglutide (gOzempic), which is used to improve glycemic control in adults with type-2 diabetes.
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| The domestic equity barometers extended gains in mid-morning trade. The Nifty climbed above the 22,250 mark. Metal shares gained after declining in the past three trading sessions. At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 363.41 points or 0.50% to 73,307.09. The Nifty 50 index added 139.30 points or 0.63% to 22,287.20. In the broader market, the S&P BSE Mid-Cap index rose 0.87% while the S&P BSE Small-Cap index gained 1.14%. The market breadth was strong. On the BSE, 2,551 shares rose and 1,049 shares fell. A total of 147 shares were unchanged. Economy: The International Monetary Fund raised India?s FY25 GDP growth forecast by 30 bps to 6.8% from its January forecast of 6.5%, citing bullish domestic demand conditions and a rising working-age population. IMF sees India's FY26 GDP growth at 6.5%. The global financial agency sees India's retail inflation at 4.6% in FY25 and 4.2% in FY26. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Buzzing Index: The Nifty Metal index rose 1.48% to 8,982.70. The index declined 1.64% in past three trading sessions. Vedanta (up 2.55%), Hindalco Industries (up 2.1%), Jindal Steel & Power (up 1.82%), Hindustan Copper (up 1.8%), Tata Steel (up 1.62%), National Aluminium Company (up 1.07%), Hindustan Zinc (up 0.97%), Welspun Corp (up 0.97%), JSW Steel (up 0.92%) and Steel Authority of India (up 0.84%) advanced. Stocks in Spotlight: Hathway Cable & Datacom jumped 5.54% after the cable TV & fiber internet provider reported consolidated net profit of Rs 34.57 crore in Q4 FY24 as against net loss of Rs 14.62 crore posted in Q4 FY23. Revenue from operations rose 7.35% year on year (YoY) to Rs 493.37 crore in the quarter ended 31 March 2024. Sterling Tools surged 6.15% after the company announced the signing of a memorandum of understanding (MoU) with South Korea?s Yongin Electronics Company for setting up new greenfield manufacturing facility for EV components. Indian Overseas Bank (IOB) added 1.50% after the bank informed that its board will meet on Monday, 22 April 2024, to consider raising funds for financial year 2024-2025 through various modes. Global Markets: Asian stocks edged higher as investors will assess Australia?s unemployment rate, which is one of the metrics the country?s central bank weighs when considering monetary policy. US stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious US Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings. The U.S. economy grew ?slightly? over the past six weeks while price increases moved at a ?modest? pace and employment showed ?slight? gains as well, the Federal Reserve said in its latest Beige Book report filed Wednesday.
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| The domestic equity indices traded with small gains in morning trade. The Nifty traded above the 22,150 mark. Media shares extended gains for the second consecutive trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 24.05 points or 0.03% to 72,967.73. The Nifty 50 index added 21.20 points or 0.10% to 22,169.10. In the broader market, the S&P BSE Mid-Cap index rose 0.62% while the S&P BSE Small-Cap index gained 0.78%. The market breadth was strong. On the BSE, 2,394 shares rose and 1,056 shares fell. A total of 165 shares were unchanged. Economy: The International Monetary Fund raised India?s FY25 GDP growth forecast by 30 bps to 6.8% from its January forecast of 6.5%, citing bullish domestic demand conditions and a rising working-age population. IMF sees India's FY26 GDP growth at 6.5%. The global financial agency sees India's retail inflation at 4.6% in FY25 and 4.2% in FY26. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Earnings Today: Infosys (up 0.11%), Bajaj Auto (up 1.30%), HDFC Life Insurance Company (up 1.93%), ICICI Securities (up 0.12%), Mastek (up 0.06%), Network18 Media & Investments (up 3.70%), TV18 Broadcast (up 2.22%), Gujarat Hotels (up 0.84%), Oriental Hotels (up 0.37%), Reliance Industrial Infrastructure (up 0.83%) and Swaraj Engines (up 0.64%) will announce their quarterly results later today. Buzzing Index: The Nifty Media index rose 0.95% to 1,893. The index advanced 2.54% in two trading sessions. Hathway Cable & Datacom (up 4.96%), Saregama India (up 3.04%), Network 18 Media & Investments (up 2.91%), TV18 Broadcast (up 2.27%), Tips Industries (up 1.97%), Nazara Technologies (up 1.93%), PVR Inox (up 1.33%), Dish TV India (up 1.13%), Sun TV Network (up 0.28%) edged higher. Stocks in Spotlight: Vodafone Idea rallied 3.56%. The company announced that it has raised Rs 5,400 crore from 74 anchor investors. The telecom company allocated 491 crore shares to anchor investors at Rs 11 per share. The investors include GQG Partners, Fidelity Investments, UBS Fund Management, Jupiter Fund Management, and Australian Super, besides Indian investors such as India Infoline, Motilal Oswal, HDFC Mutual Fund, SBI General Insurance and Quant. Tata Communications added 0.84%. The company reported consolidated net profit of Rs 321.52 crore in Q4 FY24 as against net profit of Rs 326.64 crore posted in Q4 FY23. Total income rose to Rs 5,748.70 crore from Rs 4,630.45 crore. Biocon advanced 2.51%. The pharma company announced the signing of an exclusive licensing and supply agreement with Biomm S.A., a specialty pharmaceutical company in Brazil, for the commercialization of its vertically integrated drug product, Semaglutide (gOzempic), which is used to improve glycemic control in adults with type-2 diabetes.
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| The key equity benchmarks traded with modest gains in early trade. The Nifty traded above the 22,200 level. Healthcare and IT shares declined while PSU bank , Oil & gas and media stocks advanced. At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 333.10 points or 0.46% to 73,276.78. The Nifty 50 index advanced 98.40 points or 0.44% to 22,246.30. In the broader market, the S&P BSE Mid-Cap index rose 0.72% while the S&P BSE Small-Cap index gained 0.83%. The market breadth was strong. On the BSE, 2,258 shares rose and 597 shares fell. A total of 103 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 4,468.09 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,040.38 crore in the Indian equity market on 16 April, provisional data showed. Economy: The International Monetary Fund raised India?s FY25 GDP growth forecast by 30 bps to 6.8% from its January forecast of 6.5%, citing bullish domestic demand conditions and a rising working-age population. IMF sees India's FY26 GDP growth at 6.5%. The global financial agency sees India's retail inflation at 4.6% in FY25 and 4.2% in FY26. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Numbers to Track: The yield on India's 10-year benchmark federal paper fell 0.46% to 7.160 from previous close of 7.190. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.5300, compared with its close of 83.6150 during the previous trading session. MCX Gold futures for 5 June 2024 is flat to Rs 72,520. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08% to 105.87. The United States 10-year bond yield declined 0.37% to 4.567. In the commodities market, Brent crude for June 2024 settlement rose 30 cents or 0.34% to $87.59 a barrel. Stocks in Spotlight: Power Grid Corporation of India rallied 3.26% after the company informed that its board has approved the raising of bonds as POWERGRID bonds issue(s) upto Rs 12,000 crore during FY 2024-25. The unsecured, non-convertible, non-cumulative, redeemable, taxable bonds will be issued in one or more tranches / series. HDFC Bank rose 0.50%. The board of directors of the bank may consider annual renewal of issuance of Long-Term Bonds (Financing of Infrastructure and Affordable Housing), Perpetual Debt Instruments (part of Additional Tier I capital) and Tier II Capital Bonds over the period of next twelve months through private placement mode in its board meeting on 20 April 2024. Tata Communications advanced 1.65% after the company reported consolidated net profit of Rs 321.52 crore in Q4 FY24 as against net profit of Rs 326.64 crore posted in Q4 FY23. Total income rose to Rs 5,748.70 crore from Rs 4,630.45 crore. Global Market: Asian stocks advanced. Investors in Asia will assess Australia?s unemployment rate, which is one of the metrics the country?s central bank weighs when considering monetary policy. US stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious US Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings. The U.S. economy grew ?slightly? over the past six weeks while price increases moved at a ?modest? pace and employment showed ?slight? gains as well, the Federal Reserve said in its latest Beige Book report filed Wednesday.
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| The key equity benchmarks traded in negative terrain with substantial losses in mid-afternoon trade. The Nifty traded below 22,150 mark. PSU Bank shares witnessed selling pressure for third consecutive trading session. At 14:25 IST, the barometer index, the S&P BSE Sensex, was slipped 562.10 points or 0.77% to 72,837.68. The Nifty 50 index declined 145.10 points or 0.65% to 22,127.40. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.18% while the S&P BSE Small-Cap index gained 0.73%. The market breadth was positive. On the BSE, 2,223 shares rose and 1,556 shares fell. A total of 112 shares were unchanged. Domestic stock markets will remain closed on Wednesday, 17 April 2024 on account of Ram Navami. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Buzzing Index: The Nifty PSU Bank index dropped 1.03% to 6,983.35. The index fell 4.21% in three consecutive trading sessions. Punjab National Bank (down 2.45%), Bank of Baroda (down 1.7%), Union Bank of India (down 1.24%), Canara Bank (down 1.07%), State Bank of India (down 1%) and Bank of India (down 0.25%) advanced. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.26% to 7.194 from previous close of 7.175. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.5250, compared with its close of 83.4450 during the previous trading session. MCX Gold futures for 5 July 2024 settlement rose 0.36% to Rs 72,604. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.10% to 106.31. The United States 10-year bond yield rose 0.11% to 4.634. In the commodities market, Brent crude for June 2024 settlement rose 4 cents or 0.04% to $90.06 a barrel. Stocks in Spotlight: Veranda Learning Solutions rose 0.03% after the company announced a strategic agreement with Pearson to synergize their expertise in content creation and delivery of resources for test preparation and higher education in India. Ugro Capital rallied 3.15% after the company?s asset under management (AUM) jumped 48% to Rs 9,000 crore in Q4 FY24 as compared with Rs 6,081 crore in Q4 FY23. Steel Strips Wheels (SSWL) advanced 2.70% after the company signed alloy wheel supply agreement with one of the top passenger car manufacturers in India.
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| The headline equity indices traded with major losses in afternoon trade. The Nifty traded below 22,100 level. Media, oil & gas and FMCG shares advanced while IT, PSU bank, and bank stocks declined. At 13:30 IST, the barometer index, the S&P BSE Sensex, was slipped 665.45 points or 0.91% to 72,734.33. The Nifty 50 index declined 176.20 points or 0.79% to 22,096.30. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.01% while the S&P BSE Small-Cap index gained 0.52%. The market breadth was positive. On the BSE, 2,124 shares rose and 1,607 shares fell. A total of 130 shares were unchanged. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Gainers & Losers: Eicher Motors (up 3.16%), Divi's Laboratories (up 1.70%), Oil & Natural Gas Corporation (up 1.63%), Titan Company (up 0.98%) and Hindustan Unilever (up 0.66%) were major Nifty gainers. Infosys (down 3.05%), Indusind Bank (down 2.72%), LTIMindtree (down 2.66%), Bajaj Finserv (down 2.27%) and HCL Technologies (down 2.19%) were major Nifty losers. Stocks in Spotlight: Jio Financial Services added 2% after the company announced the signing of an agreement with BlackRock Advisors Singapore, to form a 50:50 joint venture (JV) for setting up the wealth management and broking business. Sterlite Technologies jumped 6% after the company announced that it has raised Rs 1000 crore through a qualified institutional placement (QIP) route. Happy Forgings rallied 5.20% after the company announced that it has secured a major order from a leading global Tier 1 manufacturer of automobile driveline components and systems. Caplin Point Laboratories advanced 1.31% after its subsidiary, Caplin Steriles received final approval from the US drug regulator for its abbreviated new drug application (ANDA) Ofloxacin Ophthalmic Solution. Gujarat Gas (GGL) declined 2.54% while Indian Oil Corporation (IOCL) gained 1.02%. GGL and IOCL have entered into a non-binding memorandum of understanding (MoU) to expand the scope and accessibility of energy solutions for consumers. Global Markets: European and Asian stocks declined on Tuesday, in the shadow of Middle East tensions. China?s economy grew stronger than expected at the start of this year, partly thanks to robust factory activity. Gross domestic product grew by 5.3% in the first quarter from a year ago, according to the National Bureau of Statistics on Tuesday. It also accelerated from the 5.2% growth in the previous three months. China has set an annual growth target of around 5% for 2024. US stocks declined on Monday as rising yields and worries over the conflict in the Middle East overshadowed strong Goldman Sachs earnings and hot retail sales data. Retail sales in the United States grew more than anticipated last month. US retail sales picked up by 0.7% in March to $709.6 billion, after February's increase was revised to 0.9%, said the Commerce Department.
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| The domestic equity benchmarks traded with substantial losses in the early afternoon. The Nifty dropped below the 22,150 mark. IT shares extended losses for the third consecutive trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex, was down 494.59 points or 0.67% to 72,905.34. The Nifty 50 index declined 130.25 points or 0.58% to 22,142.25. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.01% while the S&P BSE Small-Cap index gained 0.50%. The market breadth was positive. On the BSE, 2,183 shares rose and 1,491 shares fell. A total of 130 shares were unchanged. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.82% to 12.57. The Nifty 25 April 2024 futures were trading at 22,194, at a premium of 51.75 points as compared with the spot at 22,142.25. The Nifty option chain for the 25 April 2024 expiry showed maximum Call OI of 51.7 lakh contracts at the 23,000 strike price. Maximum Put OI of 50.9 lakh contracts were seen at 22,000 strike price. Buzzing Index: The Nifty IT index dropped 1.62% to 33,904.80. The index fell 3.93% in three consecutive trading sessions. LTIMindtree (down 2.69%), Infosys (down 2.43%), Coforge (down 2.31%), Mphasis (down 1.31%), Tech Mahindra (down 1.18%), L&T Technology Services (down 1.13%), HCL Technologies (down 1.11%), Wipro (down 0.84%), Tata Consultancy Services (down 0.8%) and Persistent Systems (down 0.75%) declined. Stocks in Spotlight: Sterlite Technologies rallied 6.56% after the company announced that it has raised Rs 1000 crore through a qualified institutional placement (QIP) route. Happy Forgings advanced 4.77% after the company announced that it has secured a major order from a leading global Tier 1 manufacturer of automobile driveline components and systems.
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| The domestic equity barometers traded continued to trade with modest losses in mid-morning trade. The Nifty slipped below the 22,200 level. Media shares advanced after declining in previous two trading sessions. At 11:30 IST, the barometer index, the S&P BSE Sensex, was down 343.78 points or 0.47% to 73,056.00. The Nifty 50 index declined 83.80 points or 0.38% to 22,188.70. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.46% while the S&P BSE Small-Cap index gained 1%. The market breadth was strong. On the BSE, 2,386 shares rose and 1,198 shares fell. A total of 145 shares were unchanged. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Buzzing Index: The Nifty Media index gained 2.20% to 1,886.70. The index slipped 3.41% in past two trading sessions. Saregama India (up 4.17%), TV18 Broadcast (up 3.37%), Network 18 Media & Investments (up 3.32%), Zee Entertainment Enterprises (up 3.07%), Hathway Cable & Datacom (up 2.89%), Tips Industries (up 2.28%), PVR Inox (up 0.85%), Sun TV Network (up 0.77%) and Dish TV India (up 0.56%) edged higher. Stocks in Spotlight: Caplin Point Laboratories advanced 1.45% after its subsidiary, Caplin Steriles received final approval from the US drug regulator for its abbreviated new drug application (ANDA) Ofloxacin Ophthalmic Solution. Gujarat Gas (GGL) declined 1.16% while Indian Oil Corporation (IOCL) gained 2.28%. GGL and IOCL have entered into a non-binding memorandum of understanding (MoU) to expand the scope and accessibility of energy solutions for consumers. Manappuram Finance added 0.95% after the company?s board will meet on Friday, 19 April 2024 to consider raising funds which includes external commercial borrowings in the form of US dollar bonds. Global Market: Asian stocks traded lower for second session in a row Tuesday, tracking overnight losses on Wall Street. China?s economy grew stronger than expected at the start of this year, partly thanks to robust factory activity. Gross domestic product grew by 5.3% in the first quarter from a year ago, according to the National Bureau of Statistics on Tuesday. It also accelerated from the 5.2% growth in the previous three months. China has set an annual growth target of around 5% for 2024. US stocks declined on Monday as rising yields and worries over the conflict in the Middle East overshadowed strong Goldman Sachs earnings and hot retail sales data. Retail sales in the United States grew more than anticipated last month. US retail sales picked up by 0.7% in March to $709.6 billion, after February's increase was revised to 0.9%, said the Commerce Department.
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| The benchmark indices traded in a narrow range with minor losses in morning trade. The Nifty hovered near the 22,200 level. Realty shares declined for the third straight day. At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 310.05 points or 0.42% to 73,089.73. The Nifty 50 index declined 65.40 points or 0.29% to 22,207.10. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.09% while the S&P BSE Small-Cap index gained 0.69%. The market breadth was strong. On the BSE, 2,212 shares rose and 1,203 shares fell. A total of 150 shares were unchanged. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Buzzing Index: The Nifty Realty index fell 1.09% to 931.80. The index slipped 3.03% in three consecutive trading sessions. Macrotech Developers (down 2.88%), DLF (down 1.41%), Godrej Properties (down 1.32%), Oberoi Realty (down 0.87%) and Prestige Estates Projects (down 0.62%), Sobha (down 0.4%) edged lower. On the other hand, Brigade Enterprises (up 1.32%) ,Phoenix Mills (up 0.63%) and Mahindra Lifespace Developers (up 0.08%) advanced. Stocks in Spotlight: Brigade Enterprises rose 1.19% after its board approved the appointment of Jayant Bhalchandra Manmadkar as the chief financial officer (CFO) with effect from 18th April, 2024. Jio Financial Services added 2.82% after the company announced the signing of an agreement with BlackRock Advisors Singapore, to form a 50:50 joint venture (JV) for setting up the wealth management and broking business. Cipla shed 0.05%. The drug maker said that Cipla Health has signed a business transfer agreement (BTA) for purchase of distribution and marketing business undertaking of cosmetics and personal care business from Ivia Beaute, India, through a slump sale arrangement.
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| The key equity indices traded with limited losses in early trade. The Nifty traded below the 22,200 level. IT and banking shares declined while media, oil & gas and consumer durables stocks advanced. At 09:25 IST, the barometer index, the S&P BSE Sensex, was down 347.55 points or 0.47% to 73,063.30. The Nifty 50 index declined 85.55 points or 0.38% to 22,186.95. In the broader market, the S&P BSE Mid-Cap index shed 0.01% while the S&P BSE Small-Cap index fell 0.43%. The market breadth was strong. On the BSE, 1751 shares rose and 921 shares fell. A total of 99 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 3,268 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,762.93 crore in the Indian equity market on 15 April, provisional data showed. Domestic stock markets will remain closed on Wednesday, 17 April 2024 on account of Ram Navami. Politics: India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.21% to 7.190 from previous close of 7.175. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.5325, compared with its close of 83.4450 during the previous trading session. MCX Gold futures for 5 June 2024 settlement rose 0.87% to Rs 72,905. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.13% to 106.34. The United States 10-year bond yield declined 0.26% to 4.616. In the commodities market, Brent crude for June 2024 settlement rose 51 cents or 0.57% to $90.61 a barrel. Stocks in Spotlight: Manappuram Finance shed 0.40%. A meeting of the Financial Resources and Management Committee of the board of directors of the company will be held on 19 April 2024 to consider a proposal for raising funds up to a principal aggregate amount of up to US$ 500,000,000, in one or more tranches, by way of external commercial borrowings in the form of US Dollar bonds and/ or any other form. Cipla rose 0.10%. The company announced that Cipla Health (CHL), the wholly owned subsidiary and consumer healthcare arm of the company, has signed a business transfer agreement (BTA) for purchase of the distribution and marketing business undertaking of cosmetics and personal care business of Ivia Beaute Private Limited, India (IVIA) including IVIA?s brands namely Astaberry, Ikin and Bhimsaini on a worldwide basis. Jio Financial Services jumped 2.93% after the company has signed an agreement with BlackRock Inc and BlackRock Advisors Singapore Pte to form a 50:50 joint venture for setting up wealth management and broking businesses in India. Global Market: Asian stocks are trading lower for second session in a row Tuesday, tracking overnight losses on Wall Street. China?s economy grew stronger than expected at the start of this year, partly thanks to robust factory activity. Gross domestic product grew by 5.3% in the first quarter from a year ago, according to the National Bureau of Statistics on Tuesday. It also accelerated from the 5.2% growth in the previous three months. China has set an annual growth target of around 5% for 2024. US stocks declined on Monday as rising yields and worries over the conflict in the Middle East overshadowed strong Goldman Sachs earnings and hot retail sales data. Retail sales in the United States grew more than anticipated last month. US retail sales picked up by 0.7% in March to $709.6 billion, after February's increase was revised to 0.9%, said the Commerce Department.
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| The headline equity indices traded in narrow range with deep cuts in mid-afternoon trade. Impacted by geopolitical tensions arose after Iran's attack on Israel. The Nifty traded below the 22,350 mark. Financial services stocks declined for the second trading session in a row. At 14:40 IST, the barometer index, the S&P BSE Sensex, slipped 738.37 points or 0.99% to 73,506.53. The Nifty 50 index declined 206.05 points or 0.91% to 22,313.35. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index lost 1.37%, while the S&P BSE Small-Cap index fell 1.35%. The market breadth was weak. On the BSE, 886 shares rose and 2,996 shares fell. A total of 136 shares were unchanged. Economy: India's wholesale inflation rate quickened to three-month high of 0.53% in February, mainly driven by food and primary articles, data released by the commerce ministry on April 15 showed. Wholesale Price Index (WPI) inflation stood at 0.2 percent in February and 1.34% in March 2023. Food prices rose 4.65% as compared with an increase of 4.09% in February. For the FY24, the wholesale inflation index fell 0.7% versus a 9.41% rise a year ago. Retail inflation eased to a five-month low in March on the marginally moderating food inflation, while industrial output growth rebounded to a four-month high in February, led by robust infra sectors and consumer durables output. India's retail inflation eased to 4.85% on an annual basis in March as against 5.09% in the previous month, data showed on Friday. Meanwhile, the industrial production surged to a four-month high of 5.7% in February compared with 4.3% in the previous month. Buzzing Index: The Nifty Financial Services index dropped 1.64% to 21,169.25. The index fell 1.98% in past two trading sessions. Shriram Finance (down 2.47%), Power Finance Corporation (down 2.43%), ICICI Lombard General Insurance Company (down 2.26%), Bajaj Finserv (down 2.25%), ICICI Bank (down 2.14%), REC (down 2.11%), SBI Cards & Payment Services (down 1.91%), ICICI Prudential Life Insurance Company (down 1.83%), Bajaj Finance (down 1.76%) and SBI Life Insurance Company (down 1.71%) edged lower. Numbers to Watch: The yield on India's 10-year benchmark federal paper fell 0.15% to 7.168 from previous close of 7.179. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.4375, compared with its close of 83.3825 during the previous trading session. MCX Gold futures for 5 July 2024 settlement slipped 0.19% to Rs 71,935. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.13% to 105.90. The United States 10-year bond yield advanced 1.36% to 4.560. In the commodities market, Brent crude for August 2023 settlement fell 99 cents or 1.09% to $89.46 a barrel. Stocks in Spotlight: Container Corporation of India (CONCOR) slipped 2.43%. The company reported 11.24% increase in total throughput to 12,44,798 twenty-foot equivalent units (TEUs) in Q4 FY24 as compared with 11,19,034 TEUs recorded in Q4 FY23. Ambuja Cements shed 0.79%. The cement major said that it has signed a definitive agreement to acquire My Home Group's 1.5 million tones per annum (MTPA) Cement Grinding Unit in Tuticorin, Tamil Nadu. The acquisition estimated at a total value of Rs. 413.75 Crores through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerela. Patanjali Foods declined 0.91%. The FMCG company informed that it has recorded a steady quarterly performance led by consistent result in both the edible oil segment and the food & FMCG segment.
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| The headline equity indices traded in narrow range with deep cuts in afternoon trade. Impacted by geopolitical tensions arose after Iran's attack on Israel. The Nifty traded around the 22,350 mark. Barring the Nifty Oil and Gas index, all the other sectoral indices on the NSE were in red. At At 13:29 IST, the barometer index, the S&P BSE Sensex, slipped 594.69 points or 0.80% to 73,650.21. The Nifty 50 index declined 170.15 points or 0.76% to 22,349.25. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index lost 1.03% while the S&P BSE Small-Cap index fell 0.90%. The market breadth was weak. On the BSE, 914 shares rose and 2,937 shares fell. A total of 136 shares were unchanged. Economy: India's wholesale inflation rate quickened to three-month high of 0.53% in February, mainly driven by food and primary articles, data released by the commerce ministry on April 15 showed. Wholesale Price Index (WPI) inflation stood at 0.2 percent in February and 1.34% in March 2023. Food prices rose 4.65% as compared with an increase of 4.09% in February. For the FY24, the wholesale inflation index fell 0.7% versus a 9.41% rise a year ago. Retail inflation eased to a five-month low in March on the marginally moderating food inflation, while industrial output growth rebounded to a four-month high in February, led by robust infra sectors and consumer durables output. India's retail inflation eased to 4.85% on an annual basis in March as against 5.09% in the previous month, data showed on Friday. Meanwhile, the industrial production surged to a four-month high of 5.7% in February compared with 4.3% in the previous month. Gainers & Losers: Oil & Natural Gas Corporation (up 5.89%), Hindalco Industries (up 3.07%), Nestle India (up 1.27%), NTPC (up 0.79%) and Reliance Industries (up 0.54%) were major Nifty gainers. Shriram Finance (down 2.18%), Tata Consumer Products (down 2.17%), Divi's Laboratories (down 2.04%), Adani Enterprises (down 1.99%) and ICICI Bank (down 1.89%) were major Nifty losers. Stocks in Spotlight: Tata Consultancy Services (TCS) shed 0.89%. The company announced that its consolidated net profit increased 12.44% to Rs 12,434 crore in Q4 FY24 as compared with Rs 11,058 crore in Q3 FY24. Revenue from operations increased 1.08% QoQ to Rs 61,237 crore in Q4 FY24. Adani Enterprises declined 2.02%. The company on Friday announced that its wholly owned subsidiary, Adani Global will acquire a 49% stake in Adani Esyasoft Smart Solutions, Abu Dhabi. Adani Green Energy slipped 2.95%. The power generation company reported a 7% YoY increase in solar portfolio energy sales to 3,066 million units in Q4 FY24 as against 2,872 million units posted in Q4 FY23. Aster DM Healthcare surged 8.22% after the company said its board has declared a special dividend of Rs 118 per equity share. Anand Rathi Wealth rallied 4.62% after its consolidated net profit rose 32.83% to Rs 56.60 crore in Q4 FY24 as against Rs 42.61 crore in Q4 FY23. Total revenue increased 34.08% year on year (YoY) to Rs 197.19 crore in the quarter ended 31 March 2024. Global Markets: Most of the European stocks advanced while Asian stocks mostly declined on Monday as geopolitical tension heightened after Iran's attack on Israel over the weekend. Traders weighed the impact of Iran?s massive drone and missile attacks on Israel. Iran launched more than 300 drones and missiles against military targets in Israel on Saturday. Though significant in scale, the Iranian attack caused little actual damage in Israel, as per reports. China will announce its first quarter GDP numbers on Tuesday. Japan will release its March trade data and inflation numbers on Wednesday and Friday, respectively. US stocks tumbled Friday following a mixed start to earnings reporting season. Worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money.
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