Stock Market News: Trends on GIFT Nifty Indicate Positive Opening for Indian Indices


by Sandip Das on 2 April 2024,  5 min read


Sensex and Nifty are likely to open in the green tracking positive Asian cues despite weak US markets. The Indian stock market ended on a positive for the third consecutive session on April 1, 2024. At close, Sensex was up 363.20 points or 0.49 percent at 74,014.55. Nifty added 135.10 points or 0.61 percent at 22,462. Around 3015 shares advanced and 572 shares declined while 112 stocks unchanged. Except Auto, all other sectoral indices ended in the green with metal, power, capital goods, healthcare, realty up 1-4 percent, while oil & gas, Information Technology, bank were up 0.5 percent each.

GIFT Nifty

Trends on GIFT Nifty indicate a positive opening for Indian stock market.

US Markets

The Dow and S&P 500 edged lower on Monday, dragged down by investor worries over the timing of interest rate cuts by the Federal Reserve after stronger-than-expected manufacturing data pushed Treasury yields higher. The Institute for Supply Management (ISM) said its manufacturing PMI increased to 50.3 last month, the highest and first reading above 50 since September 2022, from 47.8 in February. It suggested the manufacturing sector, which has been battered by higher interest rates, was recovering.

The Dow Jones Industrial Average fell 240.52 points, or 0.60%, to 39,566.85. The S&P 500 lost 10.58 points, or 0.20%, to 5,243.77. The Nasdaq Composite gained 17.37 points, or 0.11%, to 16,396.83, according to a Reuters report.

Also read: BEL, Time Technoplast Top 2 Stocks Which Can Fetch Up To 16% Return
Asian Markets

Asia-Pacific markets were mixed Tuesday, as investors assessed economic data from South Korea and Australia. South Korea’s Kospi was down 0.34% and the Kosdaq slid 1.11% after the inflation reading. In Australia, the S&P/ASX 200 climbed 0.12% to fresh all-time highs. Japan’s Nikkei 225 rebounded slightly to gain 0.25%. The broad based Topix was up 0.19%, according to a report.

Stocks in the news
  • Telecom Stocks: Reliance Jio added 41.78 lakh mobile subscribers in January 2024, taking the total number of mobile users to 46.39 crore. Bharti Airtel increased its wireless subscriber count by 7.52 lakh, taking its mobile tally to 38.24 crore in the same month. However, Vodafone Idea lost 15.2 lakh wireless users, and its mobile subscriber base stood at 22.15 crore, as per TRAI data.
  • Aditya Birla Fashion and Retail: The company has authorised the management to evaluate the vertical demerger of the Madura Fashion & Lifestyle business from Aditya Birla Fashion into a separate listed company.
  • NTPC: The company has signed a supplementary joint venture agreement (SJVA), Amendment-II, with UP Rajya Vidyut Utpadan Nigam (UPRVUNL).
  • NMDC: The firm recorded iron ore production of 4.86 million metric tonne in the month of March 2024, down 13.2 percent over the previous month.
  • Uflex: Flex Films Rus LLC, Russia, a step-down subsidiary of Uflex, has commissioned a CPP film production line with an installed capacity of 18,000 MT per year.
  • IREDA: The company recorded the highest-ever loan sanctioned at Rs 37,354 crore in FY24, and loan disbursement at Rs 25,089 crore.
  • Bharat Dynamics: The firm recorded a turnover of Rs 2,350 crore for the financial year ended on March 31, 2024, down from Rs 2,489.39 crore in FY23, mainly on account of current geopolitical situation prevailing in Europe and the Middle East, which has affected the supply chain of the company.
  • JTL Industries: The company posted its highest-ever sales volume in FY24, reaching an unprecedented 341,846 MT.
FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 522.30 crore. Domestic institutional investors (DIIs) purchased Rs 1,208.42 crore worth of stocks on April 1 in the stock market, provisional data from the NSE showed.

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.


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