Stock Market News: GIFT Nifty Indicates Positive Opening

The Indian stock market on April 9, 2024 ended in the red despite hitting new highs amid volatility. At close, the Sensex was down 58.80 points or 0.08 percent at 74,683.70. Nifty shed 24.50 points or 0.11 percent at 22,641.80. About 1434 shares advanced, 2269 shares declined, and 100 shares unchanged. On the sectoral front, media, auto, capital goods and FMCG slipped 0.5-1 percent. On the other hand, metal and realty added 0.5 percent each.

GIFT Nifty

Trends on GIFT Nifty indicate a positive start for Indian indices with a gain of 57 points at 6:54 AM on April 10, 2024.

US Markets

The Nasdaq and S&P 500 posted modest gains on Tuesday, a day ahead of major inflation data, weighed down by financial stocks as investors braced for major U.S. banks to kick off earnings reporting season on Friday. The Dow Jones Industrial Average fell 9.13 points, or 0.02%, to 38,883.67. The S&P 500 gained 7.52 points, or 0.14%, at 5,209.91. The Nasdaq Composite added 52.68 points, or 0.32%, at 16,306.64, according to a Reuters report.

Asian Markets

Asia-Pacific markets mostly fell as of Japan’s corporate inflation climbed in March and rate decisions are awaited from New Zealand and Thailand’s central banks. South Korea’s markets are closed Wednesday, as the country heads to the polls to elect its next parliament. In Australia, the S&P/ASX 200 pointed to a third straight day of gains, climbing 0.43%. However, Japan’s Nikkei 225 slipped 0.18%, while the broad based Topix was down 0.23%, according to a CNBC.com report.

Also read: RBI MPC: Repo Rate Unchanged at 6.5%; GDP Growth Projected at 7%

Stocks in the news

• Maruti Suzuki: The auto major added a new assembly line at its plant in Manesar, Haryana, which has increased the company’s total manufacturing capacity from 2.25 million units to 2.35 million units.
• Lupin: The firm has launched its first generic version of Oracea (Doxycycline capsules, 40 mg) in the United States after receiving approval from the US FDA.
• IndusInd Bank: IndusInd International Holdings (IIHL), the promoter entity of IndusInd Bank, has signed a definitive agreement with Invesco India Asset Management to form a joint venture.
• Exide Industries: The company has entered into an agreement to acquire a 26 percent equity stake in Clean Max Arcadia, a special purpose vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions, for the generation and supply of solar power.
• Shyam Metalics and Energy: The company has established a new stainless steel hot rolled coils (HRC) facility at the existing plant in Sambalpur, Odisha, as a part of its expansion plan.
• Dixon Technologies: The company plans to acquire a majority stake in Ismartu India, a manufacturing unit of Chinese phone maker Transsion Holdings.
• ICICI Lombard General Insurance Company: The firm has entered into a strategic partnership with Policybazaar to offer products on the platform.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 593.20 crore. Domestic institutional investors (DIIs) bought Rs 2,257.18 crore worth of stocks on April 9, provisional data from the NSE showed.

Stocks under F&O ban on NSE

The NSE has added Exide Industries, Hindustan Copper, Vodafone Idea, and India Cements to the F&O ban list for April 10.

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Source: NSE

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