Stock Market News: GIFT Nifty Indicates Cautious Start for Indian Indices

The Indian stock market snapped three three-day winning runs and ended lower. At close, the Sensex was down 361.64 points or 0.50 percent at 72,470.30. Nifty was down 92.10 points or 0.42 percent at 22,004.70. On the sectoral front, the bank and Information Technology index are down 0.5 percent each, while capital goods, realty, oil & gas, and metal are up 0.5-1 percent.

GIFT Nifty

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

US Markets

US stocks slipped on Tuesday, giving up modest gains late in the session to send the Dow and S&P 500 to their third straight decline, as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve’s policy path.

The Dow Jones Industrial Average fell 31.31 points, or 0.08%, to 39,282.33. The S&P 500 lost 14.61 points, or 0.28%, at 5,203.58. The Nasdaq Composite slid 68.77 points, or 0.42%, to 16,315.70, according to a Reuters report.

Also read: Vruddhi Engineering IPO Opens For Subscription; Top Things to Know

Asian Markets

Most Asia-Pacific markets rose Wednesday, breaking ranks from Wall Street as the market rally in the US continued to cool. Japan’s Nikkei 225 rebounded to climb 0.24%, while the broad-based Topix was up 0.4%. South Korea’s Kospi retreated 0.1% after leading gains in Asia and reaching a two-year high on Tuesday. The small-cap Kosdaq was close to the flatline, according to a CNBC.com report.

Stocks in the news

• Sanofi India: The company along with Sanofi Healthcare India has announced an exclusive partnership with Cipla for the distribution and promotion of Sanofi India’s 6 central nervous system (CNS) products in India.
• Larsen & Toubro: The company’s board had approved a proposal to raise Rs 7,500 crore. This will be in the form of external commercial borrowing, term loans, non-convertible debentures, etc.
• Adani Ports: The firm has expanded its presence on India’s coastline after buying 95 percent of Odisha’s Gopalpur Port Ltd (GPL) at an enterprise value of Rs 3,080 crore.
• CDSL: Public shareholder Standard Chartered Bank – Corporate Banking is likely to sell the entire 7.18% stake (75 lakh equity shares) in CDSL for $151 million through a block deal, sources told CNBC-TV18.
• Aster DM Healthcare: Private equity firm Olympus Capital Asia Investments is likely to sell up to 9.8% equity stake in Aster DM Healthcare through a block deal, multiple industry sources in the know told Moneycontrol.
• SpiceJet: The airline company had signed an agreement with aircraft lessor Export Development Canada (EDC) to settle liabilities worth Rs 755 crore.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 10.13 crore. Domestic institutional investors (DIIs) purchased Rs 5,024.36 crore worth of stocks on March 26, provisional data from the NSE showed.

Bulk Deals

• Mankind Pharma: Beige Limited sold 58,17,873 shares at Rs 2120.31 per share.
• Variman: Minerva Ventures Fund bought 25,00,000 shares at Rs 25 per share.
• Siyaram: LC Radiance Fund VCC sold 1,11,000 shares at Rs 69.86.

Stock under F&O ban on NSE

The NSE has retained SAIL on the F&O ban list for March 27.

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.