Stock Market Today: GIFT Nifty Indicates Negative Opening for Indian Indices

The Indian stock market ended lower for the fourth consecutive session on April 18. At close, Sensex was down 454.69 points or 0.62 percent at 72,488.99, and the Nifty shed 152.10 points or 0.69 percent at 21,995.80. Around 2506 stocks advanced and 1146 stocks declined while 129 shares remained unchanged. Except for telecom and media, all other sectoral indices are trading in the red. The BSE midcap index shed 0.5 percent and the smallcap index ended on a flat note.

GIFT Nifty

Trends on GIFT Nifty indicate a negative opening for Indian indices.

US Markets

US stocks vacillated on Thursday, swinging from red to green and back as investors contended with the push-pull of a strong economy and restrictive Federal Reserve policy. Benchmark Treasury yields resumed their climb and gold added strength as ongoing turmoil in the Middle East bolstered the safe-haven play.

The Dow Jones Industrial Average rose 22.07 points, or 0.06%, to 37,775.38. The S&P 500 lost 11.09 points, or 0.22%, to 5,011.12. The Nasdaq Composite dropped 81.87 points, or 0.52%, to 15,601.50, according to a Reuters report.

Asian Markets

Asia-Pacific markets were all lower on Friday, tracking Wall Street’s losses overnight and giving up gains from the previous day. Japan’s benchmark Nikkei 225 was down 1.88% after the inflation reading. In Australia, the S&P/ASX 200 was nearly 1% lower, according to a CNBC.com report.

Stocks in the news

• Infosys: The country’s second largest IT services company has recorded consolidated profit at Rs 7,969 crore for quarter ended March FY24, growing 30.5 percent over previous quarter driven by income tax refund, but overall earnings missed analysts’ estimates. Revenue from operations fell by 2.3 percent QoQ to Rs 37,923 crore, while revenue in dollar terms declined 2.1 percent and constant currency revenue dropped 2.2 on sequential basis.
• Bajaj Auto: The Pune-based two-and-three-wheeler maker has reported standalone net profit at Rs 1,936 crore for March FY24 quarter, growing sharply by 35 percent over a year-ago period. Revenue from operations during the same period increased 29 percent to Rs 11,485 crore, with sales volume rising 24 percent to 10.62 lakh units.
• ICICI Securities: The company has reported consolidated net profit at Rs 536.5 crore for quarter ended March FY24, rising 104.3 percent over a year-ago period, with strong topline as well as operating performance. Revenue from operations grew by 74.4 percent to Rs 1,543.2 crore compared to same period last year.
• Gokaldas Exports: The company has opened its qualified institutions placement (QIP) issue on April 18. The floor price has been fixed at Rs 789.99 per share.
• Housing & Urban Development Corporation: Department of Public Enterprises (OPE) has granted the Navratna Status to HUDCO.
• Mahindra Lifespace Developers: The real estate and infrastructure development subsidiary of the Mahindra Group has received booking for more than 150 homes within just 2 days, valuing at Rs 350 crore, after the launch of Bengaluru’s 1st net zero waste + energy residential project, Mahindra Zen.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 4,260.33 crore, while domestic institutional investors (DIIs) bought Rs 2,285.52 crore worth of stocks on April 18, provisional data from the NSE showed.

Stock under F&O ban on NSE

The NSE has added Exide Industries to the F&O ban list for April 19, while retaining Balrampur Chini Mills, Bandhan Bank, GNFC, Hindustan Copper, Vodafone Idea, Metropolis Healthcare, National Aluminium Company, Piramal Enterprises, SAIL, and Zee Entertainment Enterprises to the said list

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