Stock Market News: Sensex, Nifty Likely to Open Flat; HDFC Bank, RVNL, HAL in Focus

The Indian benchmark indices are likely to open on a subdued note following weak global cues. Trends on GIFT Nifty indicate a flat start for Indian indices. The Indian stock market ended on a positive note on March 28, 2024 but off day’s high. At close, Sensex added 655 points at 73,651.35 while Nifty was up 203 points at 22,326.90. All the sectoral indices ended in the green with auto, healthcare, metal, power, capital goods up 1 percent each. Oil & gas, Information Technology, Bank, Realty and FMCG added 0.5 percent each. Around 1,809 stocks advanced and 2,014 declined while 115 stocks remained unchanged.

GIFT Nifty

Trends on GIFT Nifty indicate a flat start for Indian indices.

US Markets

The S&P 500 closed out the week with slight gains on Thursday, with the benchmark index notching its strongest first quarter in five years. Investors digested the latest batch of economic data while looking towards the next inflation reading.

The Dow Jones Industrial Average rose 47.29 points, or 0.12 percent, to 39,807.37. The S&P 500 gained 5.86 points, or 0.11 percent, to 5,254.35. The Nasdaq Composite lost 20.06 points, or 0.12 percent, to 16,379.46, according to a Reuters report.

Asian Markets

Asia-Pacific markets climbed Monday as investors assessed China’s business activity for February. Japan’s Nikkei 225 fell 0.56% after the reading, while the broad based Topix fell 1.29%. South Korea’s Kospi was up 0.43%, and the small cap Kosdaq gained 1.25%, according to a CNBC.com report.

Also read: Radiowalla Network IPO: Top Things to Know Before Subscribing to Issue

Stocks in the news

• Rail Vikas Nigam: The company has emerged as the lowest bidder for the upgrade of the electric traction system for the Kharagpur section of the Kharagpur division of South Eastern Railway to meet the 3,000 MT loading target. The cost of the work is Rs 148.27 crore.
• Infosys: The IT firm has received orders from the Income Tax Department, for assessment years 07-08 to 15-16, 17-18 & 18-19 during the March quarter.
• Hindustan Aeronautics: The has signed a contract worth Rs 1,173.42 crore with Cochin Shipyard, Kochi, for the supply of six sets of LM2500 gas turbines (GT) and GT auxiliaries (GTAE), spares, and tools for the Indian Navy Next Generation Missile Vessei (NGMV) Project.
• Torrent Power: The company received a letter of award from Torrent Power Limited-Distribution Unit for setting up 150 MW (RE Power) grid-connected wind and solar hybrid projects under the greenshoe option.
• Indian Metals and Ferro Alloys: The firm has received board approval for withdrawal of the Scheme of Amalgamation of Utkal Coal with itself from the BSE and the National Stock Exchange of India.
• Zomato: The company has received an order for demand of GST of Rs 11.27 crore, along with applicable interest and penalty totaling to Rs 23.26 crore, from the Assistant Commissioner of Commercial Taxes
• JSW Steel: JSW Vijayanagar Metallics, a wholly-owned subsidiary of JSW Steel, has commissioned its hot strip mill (HSM) at the steel plant in Vijayanagar with a capacity of 5 MTPA and has made its first dispatch.
• Macrotech Developers: The company has acquired 50 percent of the paid-up equity capital of Siddhivinayak Realties under a Share Purchase Agreement for Rs 250.72 crore.
• Globus Spirits: The firm has commenced commercial production of additional capacity at two of its existing units at Singhbhum, Jharkhand, and Burdwan, West Bengal.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 188.31 crore, while domestic institutional investors (DIIs) purchased Rs 2,691.52 crore worth of stocks on March 28, provisional data from the NSE showed.

Stock under F&O ban on NSE

The NSE has added Zee Entertainment Enterprises to the F&O ban list for April 1.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.