Stock Market at Close: Sensex, Nifty Decline 1% Each

The Indian stock market ended in deep in the red on April 12, 2024. At close, Sensex was down 793.25 points or 1.06 percent at 74,244.90. Nifty fell 234.40 points or 1.03 percent at 22,519.40. Around 1305 stocks advanced and 1988 stocks declined while 68 stocks remained unchanged.

All the sectoral indices ended in the red with bank, healthcare, FMCG, Media, realty, oil & gas down 1 percent each.

Top Nifty50 Gainers

Top Nifty50 Losers

Asian Markets Updates:

Asia-Pacific markets were mixed Friday after an inflation-fueled selloff in the previous session, with investor assessing economic data from Singapore and South Korea. Hong Kong’s Hang Seng index led losses in the region, tumbling about 2%, while mainland China’s CSI 300 fell 0.81% to close at 3,475.84.

South Korea’s benchmark Kospi index slid 0.93% and ended at 2,681.82, but the small-cap Kosdaq gained 0.28% and closed at 860.47. Japan’s Nikkei 225 climbed 0.21% to 39,523.55, while the broad-based Topix rose 0.46% and ended at 2,759,64, according to a CNBC.com report.

European Markets Updates:

European stocks were on track to race ahead of Wall Street on Friday, with exporter shares in high demand as the continent’s major currencies dropped against a dollar standing tall on bets the U.S. Federal Reserve would keep interest rates high. Europe’s broad Stoxx share index rose 1.1% on Friday morning as a weak euro flattered the domestic value of exporters’ dollar earnings. London’s FTSE 100 was 1.3% higher, boosted by global mining and oil stocks, according to a Reuters report.

Also read: Bharti Hexacom Makes Bumper Debut, Lists at 32% Premium to IPO Price

Stocks in Action:

Tata Consultancy Services:

Tata Consultancy Services (TCS) reported 9 percent rise in net profit at Rs 12,434 crore for the fourth quarter of FY24 as against Rs 11,392 crore in the year-ago period. Revenue was up 3.5 percent to Rs 61,237 crore in the three months ended March 31, the IT major said in an exchange filing on April 12. The EBIT margin or the operating margin was up at 26 percent for Q4, a 100 bps increased from 25 percent in the previous quarter.

TCS reported all-time high quarterly and full year deal wins at $13.2 billion, and $42.7 billion respectively. TCS board also approved a final dividend of Rs 28 per share.

K Krithivasan, Chief Executive Officer and Managing Director, said: “We are very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26% operating margin, validating the robustness of our business model and execution excellence.”

Computer Age Management Services:

Computer Age Management Services Limited (CAMS) share price gained 2 percent in its stock value on April 12, 2024. This comes after the announcement from the Reserve Bank of India (RBI) granting authorisation to CAMS to function as an Online Payment Aggregator. It marks a strategic milestone for CAMS, opening up new avenues for the company within the realm of digital payments.

In the December quarter of the fiscal year, the company reported a noteworthy increase in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), with a growth of 18 percent to Rs 129 crore compared to Rs 109 crore in the previous fiscal period. This uptick in EBITDA is indicative of CAMS’ efficient operational management and its ability to capitalise on emerging opportunities in the market.

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Source: BSE, NSE

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