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

The Indian stock market ended on a positive note on April 9, 2024. At close, Sensex jumped 494 points to 74,743, while Nifty 50 jumped 153 points to 22,666. Around 1695 shares advanced and 1733 shares declined while 108 stocks remained unchanged. Except for Information Technology and PSU Bank, all other indices ended in the green with auto, metal, oil & gas and realty up 1 percent each.

GIFT Nifty

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

US Markets

US stocks were essentially unchanged at the close of a choppy session on Monday. This comes ahead of crucial inflation data and the kick-off of first-quarter earnings season.

The Dow Jones Industrial Average fell 11.24 points, or 0.03%, to 38,892.80. The S&P 500 lost 1.95 points, or 0.04%, at 5,202.39. The Nasdaq Composite added 5.44 points, or 0.03%, at 16,253.96, according to a Reuters report.

Asian Markets

Asia-Pacific markets climbed even as US Treasury yields put pressure on Wall Street equities Monday. In Australia, the S&P/ASX 200 started the day up 0.29%, rebounding from Monday’s losses. Japan’s Nikkei 225 also climbed 0.67%, while the broad based Topix gained 0.63%. South Korea’s Kospi rose 0.61%, extending gains from Monday, while the small-cap Kosdaq rebounded 0.59%, 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

• Lupin: has received approval from the US health regulator to market a generic medication to treat involuntary movements caused by tardive dyskinesia.
• Dixon Technologies: The firm entered into a share purchase agreement with Ismartu Singapore, Transsion Technology, 5A Advisors LLP, and Ismartu India for the acquisition of a 50.1 percent stake in Ismartu India, the electronics and mobile device manufacturer.
• Dilip Buildcon: The company has been declared the L-1 bidder for the project worth Rs 1,092.46 crore by the Haryana Rail Infrastructure Development Corporation in EPC mode in Haryana.
• Bain Capital: The firm is all set to make a complete exit from Axis Bank as the US private equity major looks to dilute its balance stake and launch a fresh block deal of around $430 million, three people in the know told Moneycontrol.
• RVNL: The company received a letter of acceptance (LoA) from Central Railway, aggregating to Rs 47.36 crore for signalling and telecommunication work for provision of automatic block signaling on Khapri- Sewagram section of Nagpur division.
• SJVN: The company said that its wholly owned subsidiary, SJVN Green Energy signed a Memorandum of Understanding (MoU) with Assam Power Distribution Company for developing 1,000 MW floating solar power projects in Assam by incorporating a joint venture company.
• HG Infra Engineering: The firm has incorporated a wholly owned subsidiary, H G Chennai-Tirupati (II) Highway, as a special purpose vehicle (SPV) to undertake the highway project worth Rs 862.11 crore awarded by the National Highways Authority of India (NHAI) in Andhra Pradesh in Hybrid Annuity Mode.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 684.68 crore. Domestic institutional investors (DIIs) bought Rs 3,470.54 crore worth of stocks on April 8, provisional data from the NSE showed.

Bulk Deals

• RBL Bank: Citigroup Global Markets Mauritius Private Limited bought 6697000 shares at Rs 255.4 per share. Copthall Mauritius Investment Limited sold 6697000 shares at Rs 255.4 per share.
• Jaykailash: Visionary Value Fund sold 64000 shares at Rs 85 per share. Chanakya Opportunities Fund I sold 64000 shares at Rs 85 per share.

Stock under F&O ban on NSE

The NSE has retained Bandhan Bank, SAIL, and Zee Entertainment Enterprises to the F&O ban list for April 9.

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