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

The Indian stock market bounced back sharply as it erased all the previous session losses, with Nifty closing above 22,600 amid buying seen across the sectors, barring realty. At close, Sensex was up 941.12 points or 1.28 percent at 74,671.28. Nifty jumped 223.45 points or 1 percent at 22,643.40.

Except for realty, all other sectoral indices ended in the green with healthcare, metal, power, bank, and oil & gas up 0.4-2 percent. The BSE midcap index was up 0.8 percent and the smallcap index ended flat.

GIFT Nifty

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

US Markets

US stocks ended higher on Monday, with sharp gains for Tesla and Apple leading the way, as investors looked toward what the Federal Reserve would say about the interest rate outlook after its policy meeting this week. Traders expected the Fed to keep rates unchanged while striking a hawkish tone.

The Dow Jones Industrial Average rose 146.43 points, or 0.38%, to 38,386.09. The S&P 500 gained 16.21 points, or 0.32%, to 5,116.17. The Nasdaq Composite gained 55.18 points, or 0.35%, to 15,983.08, according to a Reuters report.

Asian Markets

Asia-Pacific markets largely rose on Tuesday, tracking Wall Street moves, with investors awaiting China manufacturing purchasing managers’ index for April. Japan’s Nikkei 225 climbed 1.4 percent as traders returned from a public holiday, while the broad-based Topix was up nearly 2 percent. Hong Kong’s Hang Seng index rose 0.2 percent, while China’s CSI 300 dipped 0.12 percent, according to a CNBC.com report.

Also read: BSE Stock Price Falls Following Sebi’s Regulatory Fee Diktat

Results Today

Indus Towers, Indian Oil Corporation, Adani Energy Solutions, Adani Total Gas, Castrol India, Central Bank of India, Cholamandalam Investment and Finance Company, Exide Industries, Fino Payments Bank, Five-Star Business Finance, Havells India, Nuvoco Vistas Corporation, REC, and Symphony.

Stocks in the news

• NMDC: The state-owned iron ore company has increased the lump ore price by Rs 400 to Rs 6,200 per tonne. The price of fines hiked by Rs 200 per tonne to Rs 5,260 per tonne.
• UCO Bank: The lender has recorded net profit at Rs 525.8 crore for the quarter ended March FY24, falling 9.5 percent compared to corresponding period of previous fiscal, partly impacted by elevated provisions for bad loans and lower pre-provision operating profit. Net interest income increased by 10.9 percent on-year to Rs 2,187.4 crore for the quarter.
• KEC International: The global infrastructure EPC major has won new orders of Rs 1,036 crore across its various businesses, including transmission & distribution projects in Middle East and Americas.
• Poonawalla Fincorp: The non-banking finance company has reported standalone net profit at Rs 331.7 crore for March FY24 quarter, growing sharply by 83.6 percent over corresponding period of previous fiscal. Net interest income grew by 57 percent on-year to Rs 641 crore for the quarter.
• Tata Chemicals: The Tata Group company has posted net loss at Rs 850 crore for January-March FY24 quarter against profit of Rs 709 crore in year-ago period, impacted by exceptional loss due to UK operations. Revenue from operations fell by 21.1 percent on-year to Rs 3,475 crore for the quarter.
• JNK India: The heating equipment manufacturer is set to debut on the bourses on April 30. The final issue price has been fixed at Rs 415 per share.

FII and DII data

Foreign institutional investors (FIIs) net bought Rs 169.09 crore shares, while domestic institutional investors (DIIs) pumped in Rs 692.05 crore on April 29

Stocks under F&O ban on NSE

Biocon, Vodafone Idea.

Source: NSE, BSE

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