Indian stock market: Domestic stock indexes Sensex and Nifty 50 are expected to open higher on Monday on the back of gains in Asian peers amid mixed global conditions.
Last week’s U.S. stock market closed higher with Asian markets amid risk aversion due to geopolitical tensions.
China’s loan prime rates and other latest data from Japan and South Korea will remain in the spotlight this week.
On Friday, Indian stock market indexes ended a four-day losing streak with modest gains.
The Sensex rose 599.34 points or 0.83% to close at 73,088.33 and the Nifty 50 rose 151.15 points or 0.69% to close at 22,147.00.
Also read: Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — April 22
“Markets are likely to see higher volatility more broadly on a range of indicators. On the downside, escalating geopolitical tensions in the Middle East, hawkish comments from the US Federal Reserve, and FII selling are likely. On the bright side, expectations for healthy returns from index heavyweights and low-level buying have shown strength in the market this week, along with global trends. All eyes will continue to be on the season,” said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.
Investors will be interested in the stock market, including ongoing fourth-quarter earnings, domestic and global macroeconomic data, the 2024 general election, the Iran-Israel conflict, oil prices, US Treasury yield trends, and other global market indicators. We will pay attention to several factors.
Read here: What’s in store this week: Q4 earnings, Iran-Israel conflict, global clues to this week’s key market triggers
Here are the key clues for Sensex domestic and global markets today.
asian market
Asian markets rose on Monday as the focus shifted to many corporate earnings and economic indicators this week.
Japan’s Nikkei Stock Average rose 0.86% and TOPIX rose 1.44%. South Korea’s Kospi rose 1.13% and Kosdaq rose 1.04%. Hong Kong’s Hang Seng Index futures showed a positive start.
Also read: Asian stocks rebound with profits, focus on data: Market Wrap
Give a thoughtful gift today
Gift Nifty is trading around 22,240 levels, a premium of nearly 110 points from the previous closing price of Nifty futures, indicating a strong start for the Indian stock market index.
wall street
U.S. stock markets ended mixed on Friday, with the S&P 500 and Nasdaq falling for six consecutive sessions, each with their longest losing streaks since October 2022.
The Dow Jones Industrial Average rose 211.02 points, or 0.56%, to 37,986.40, and the S&P 500 index fell 43.89 points, or 0.88%, to 4,967.23. The Nasdaq Composite Index fell 319.49 points, or 2.05%, to end at 15,282.01.
For the week, the S&P 500 fell 3.05%, the Nasdaq fell 5.52%, and the Dow rose 0.01%.
Tech stocks fell, with Nvidia’s stock falling 10%, Super Microcomputer’s stock falling 23%, and Micron Technology’s stock falling more than 4%. Netflix stock also plunged 9.09%, and Arm stock fell 17%.
American Express stock rose 6.23%, and Paramount Global stock soared 13.4%.
Also read: A week ahead on Wall Street: Focus on US GDP data, Microsoft, Alphabet, Meta Platforms and Tesla earnings
china loan prime rate
China has kept the prime rate for one-year loans unchanged at 3.45% and the prime rate for five-year loans at 3.95%.
oil price
Crude oil prices fell following their first consecutive weekly decline this year. Brent crude oil fell 0.53% to $86.83 per barrel, while U.S. West Texas Intermediate (WTI) crude oil futures fell 0.16% to $83.01.
RBI time
Minutes of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting say policy must remain aggressively anti-inflationary to ensure inflation targeting and fuller spillovers. He emphasized that. The RBI’s Interest Rate Setting Committee believes that sustained price stability will lay a strong foundation for a period of high growth.
Read here: RBI MPC Minutes: Price stability lays the foundation for high growth, food inflation risks rise. 5 key highlights
4th quarter results
Wipro reported an 8% decline in consolidated net profit for the fourth quarter of FY24. INRFrom 283.5 billion INRIn the same period last year, it was $3.074 billion. Wipro’s operating revenue fell by 4%, INRFrom 22,208 billion INR2,319 billion yen compared to the previous year.
HDFC Bank reported its net profit as follows: INR4Q FY2024: $1,651.1 billion, +0.84% YoY INRIn the previous quarter, it was 1,637.3 billion yen. A bank’s net interest income (NII) is INRFrom 29,007 billion INRIn the previous quarter, it was 2,847 billion yen.
Read here: HDFC Bank Q4 2024 Financial Highlights: Net Profit INR1,651.2 billion yen, with retail loans leading the way with 108.9% growth
FII sales
Foreign portfolio investors (FPIs) turned net sellers in the Indian stock market in April. FPIs have offloaded the value of Indian stocks INR525.4 billion, the total outflow amount is INR898.2 billion as of April 19, taking into account debt, hybrid, debt VRR and equity, according to National Securities Depository Ltd (NSDL) data.
(Information provided by Reuters)
Disclaimer: The views and recommendations above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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