Stock Market News: Trends on GIFT Nifty Indicate a Positive Opening

The Indian stock market is expected to open in the green following positive global cues. US markets closed in the green while other Asian markets were also trading on a positive note. The Indian stock market ended in the red on March 19, 2024, with all sectors ending in the red. At close, Sensex was down 736 points at 72,012.05 while Nifty shed 238 points and ended the session at 21,817.45. Around 1,242 stocks advanced and 2,575 declined while 111 stocks remained unchanged. All sectoral indices ended in the red with Healthcare, IT, FMCG, Capital Goods, oil & gas, and power down 1-2 percent.

GIFT Nifty

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

Global Markets

US Markets

Wall Street’s three major indexes closed higher on Tuesday. Shares in hotshot chipmaker Nvidia shook off early losses and investors looked ahead to the Federal Reserve’s policy meeting conclusion on Wednesday for clues on interest rate policy.

The Dow Jones Industrial Average rose 320.33 points, or 0.83% , to 39,110.76. The S&P 500 gained 29.09 points, or 0.56%, to 5,178.51. The Nasdaq Composite gained 63.34 points, or 0.39%, to 16,166.79.

Asian Markets

Asia-Pacific markets rose as investors digested the Bank of Japan’s landmark shift in monetary policy and await the US Federal Reserve’s interest rate decision. In Australia, the S&P/ASX 200 rose 0.17%. South Korea’s Kospi climbed 1.12%. Japan’s Nikkei 225 is closed for a public holiday, according to a CNBC.com report.

Also read: Domino’s, Subway supplier Chatha Foods IPO: Top Things to Know Before Subscribing to The Issue

Stocks in the news

• Tata Consultancy Services: Central Bank, a leading Midwest regional bank in the US, will use TCS’s BaNCS, the universal financial solution, to update its core technology infrastructure, drive innovation and strengthen customer relationships.
• Aurobindo Pharma: The pharma company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Mometasone Furoate Monohydrate nasal spray, 50 mcg/spray.
• Aditya Birla Sun Life AMC: Promoters Aditya Birla Capital and Sun Life (India) AMC Investments Inc decided to exercise the oversubscription option (greenshoe option) to the extent of 4.47 percent of paid-up equity of Aditya Birla Sun Life AMC, in addition to the base offer size of 7 percent.
• UltraTech Cement: The Competition Commission of India has given its approval to the acquisition of Kesoram Industries’ cement business by UltraTech from Kesoram Industries.
• Apollo Hospitals Enterprise: As of April 1, 2024, Madhu Sasidhar will assume the role of President & Chief Executive Officer of the hospitals division, transitioning from their current position as Chief Strategy Officer of the company.
  

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 1,421.48 crore. Domestic institutional investors (DIIs) purchased Rs 7,449.48 crore worth of stocks on March 19, provisional data from the NSE showed.

Bulk Deals

• Star Health: ICICI Prudential Mutual Fund bought 35,74,074 shares at Rs 540 per share.
• LT Foods: Abakkus Asset Manager LLP bought 33,93,543 shares at Rs 162.04 per share.

Stocks under F&O ban on NSE

The NSE has added Indus Towers to the F&O ban list for March 20, while retaining Balrampur Chini Mills, BHEL, Biocon, Hindustan Copper, Piramal Enterprises, RBL Bank, SAIL and Zee Entertainment Enterprises

Disclaimer: The content of this blog post is intended solely for informational purposes and should not be interpreted as investment or trading advice. The author does not assure the accuracy or completeness of the information presented. Any decisions or actions taken based on the content of this blog post are undertaken at your own risk.