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

Indian equity indices ended lower after a volatile session on April 26 and snapped a five-day gaining streak with the Nifty falling below 22,400. At close, the Sensex was down 609.28 points or 0.82 percent at 73,730.16, and the Nifty was down 150.30 points or 0.67 percent at 22,420.

GIFT Nifty

Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 63 points or 0.28 percent. The Nifty futures were trading around the 22,653 level.

US Markets

US stocks closed higher on Friday, buoyed by a rally in megacap growth stocks following robust quarterly results from technology heavyweights Alphabet and Microsoft in addition to moderate inflation data. Investors cheered Alphabet’s first-ever dividend, its $70 billion stock buyback program, and better-than-expected first-quarter results. Its shares jumped 10 percent and reached a record high, lifting the Google-parent’s market value above $2 trillion.

The Dow Jones Industrial Average rose 153.86 points, or 0.40 percent, to 38,239.66, the S&P 500 gained 51.54 points, or 1.02 percent, to 5,099.96 and the Nasdaq Composite gained 316.14 points, or 2.03 percent, to 15,927.90, according to a moneycontrol.com report.

Asian Markets

Australia’s S&P/ASX 200 was up 0.43%, rebounding from Friday’s losses. South Korea’s Kospi rose 0.84%, and the small-cap Kosdaq gained 0.72%. Hong Kong’s Hang Seng index rose 0.82%, while China’s CSI 300 added 0.1%, according to a CNBC.com report.

Results Today

UltraTech Cement, Birlasoft, Can Fin Homes, Fedbank Financial Services, Indostar Capital Finance, Jana Small Finance Bank, KFin Technologies, KPIT Technologies, PNB Housing Finance, Poonawalla Fincorp, Shoppers Stop, Tata Chemicals, Trent, and UCO Bank.

Also read: What Are BTST Trades?

Stocks in the news

• Maruti Suzuki India: The country’s largest car maker has recorded standalone net profit at Rs 3,878 crore for quarter ended March FY24, growing 47.8 percent over a year-ago period partly driven by strong operating numbers and higher other income, but overall numbers below analysts’ expectations. Revenue from operations grew by 19.3 percent on-year to Rs 38,235 crore during the same period.
• Vodafone Idea: ATC Telecom Infrastructure has exited the telecom operator by selling its entire shareholding of 144 crore equity shares (equivalent to 2.87 percent of paid-up equity) at an average price of Rs 12.78 per share via open market transactions, which valued at Rs 1,840.3 crore.
• HCL Technologies: The global IT services company has reported net profit at Rs 3,986 crore for March FY24 quarter, falling 8.4 percent over previous quarter impacted by weak operating numbers, and overall numbers came in below analysts’ estimates. Revenue from operations grew by 0.2 percent sequentially to Rs 28,499 crore for the quarter.
• SBI Life Insurance Company: The insurance company has recorded net profit at Rs 810.8 crore for January-March FY24 quarter, growing 4.4 percent over a year-ago period. Net premium income for the quarter grew by 26.2 percent year-on-year to Rs 25,116.5 crore and net commission at Rs 851.4 crore declined by 2.3 percent during the same period.
• ICICI Bank: The private sector lender has recorded standalone net profit at Rs 10,707.5 crore for quarter ended March FY24, growing 17.4 percent over a year-ago period on lower provisions for bad loans. Overall, earnings were ahead of analysts’ estimates. Net interest income grew by 8.07 percent on-year to Rs 19,093 crore for the quarter.

FII and DII data

Foreign institutional investors (FIIs) net sold Rs 3,408.88 crore shares, while domestic institutional investors (DIIs) pumped in Rs 4,356.83 crore on April 26, provisional data from the NSE showed.

Stock under F&O ban on NSE

The NSE has retained Vodafone Idea to the F&O ban list for April 29.

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