Benchmark Sensex and Nifty indices are likely to open positively on April 24 as the GIFT Nifty trend points to a 78-point rise for the broader index to start.
Indian markets closed modestly higher on April 23, with most of the day’s gains wiped out by last-minute selling, marking the third straight session of gains.
At the close, the Sensex rose 89.83 points (0.12%) to 73,738.45 and the Nifty rose 31.60 points (0.14%) to 22,368.
The pivot point calculator shows that the Nifty 50 is expected to face resistance at the 22,426 level, followed by the 22,449 and 22,487 levels. On the downside, the index may soon find support at the 22,351 level, followed by 22,328 and 22,290.
Stay tuned to Moneycontrol to know what’s happening in the currency and stock markets today. We have compiled a list of important headlines across news platforms that can impact the Indian as well as international markets.
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gift nifty
Trends in the Gift Nifty indicate that India’s composite index rose by 78 points or 0.35%, indicating a strong start. Nifty futures were trading near the 22,454.50 level.
Today’s trading settings: Top 15 things to know before the opening bell
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us market
U.S. stocks closed higher on Tuesday after strong earnings from leading companies and as investors focused on quarterly results from the Magnificent Seven and other large growth stocks.
The Dow Jones Industrial Average rose 263.71 points, or 0.69%, to 38,503.69, the S&P 500 rose 59.95 points, or 1.20%, to 5,070.55, and the Nasdaq Composite Index rose 245.34 points, or 1.59%, to 15,696.64.
asian market
Japan’s Nikkei Stock Average led the gains in Asia, with markets across the region rising on Wall Street’s second straight day of gains.
The Japanese benchmark rose 2.02%, while the Kospi rose 1.7%.
India’s inflation is at risk due to extreme weather and geopolitical issues: RBI bulletin
The Reserve Bank of India (RBI) in its latest report on Tuesday said that even as the South Asian country’s growth shows an upward trend, extreme weather events and prolonged geopolitical tensions could pose risks to India’s inflation trajectory. He said that there is a sex.
RBI staff, in an article on ‘Economic Situation’, said: ‘Food price pressures are undermining the ongoing process of de-inflation, even as shocks from adverse climate change and geopolitical tensions create uncertainty in the outlook. “It’s hindering that,” he said.
India’s Meteorological Department announced earlier this month that India could experience more heat wave days than usual from April to June.
Hindustan Unilever announces fourth quarter financial results today
Hindustan Unilever (HUL) is expected to report weak fourth-quarter earnings as rural demand remains weak, hampering volume growth during the quarter.
according to money control According to estimates from nine securities companies, the FMCG giant’s sales are expected to fall by about 1% to 14,913 million rupees from 15,053 million rupees in the same period last year.
The consumer goods giant’s profit is expected to be 2,435 million rupees, down nearly 4% from a year earlier, according to a poll.
Experts say EBITDA margins are expected to decline due to higher royalty payments, higher advertising costs and lower sales growth.
LTIMindtree announces fourth quarter financial results today
LTIMindtree Ltd is expected to report a slight decline in revenue in the final quarter of 2024 due to extended furloughs and some business reductions. According to Moneycontrol, which compiled estimates from 13 securities companies, revenue for the January-March period is expected to reach 8,971 million rupees, a slight decline of 0.5% from the previous quarter.
The company’s net profit for the fourth quarter of FY24 is expected to be Rs 1,143.1 crore, down 2.2% from the previous quarter.
dollar
The dollar healed its wounds on Wednesday after falling sharply against the euro and pound, hurt by a combination of surprisingly strong European activity data and slower growth in U.S. businesses.
gold price
Gold prices held firm on Tuesday after hitting their lowest in more than two weeks as concerns over escalating tensions in the Middle East receded, with investors looking for further clarity on the U.S. interest rate cut schedule. Waiting for indicators.
crude
Oil prices rose in early trading on Wednesday, after industry data showed a surprise drop in U.S. crude inventories last week showed positive signs for demand and shifted attention away from hostilities in the Middle East, down from the previous session. joined the rise.
Brent crude oil futures rose 9 cents, or 0.1%, to $88.51 per barrel, while U.S. West Texas Intermediate crude oil futures rose 10 cents, or 0.11%, to $83.45 per barrel.
FII and DII data
On April 23, Foreign Institutional Investors (FIIs) net sold shares worth Rs 3,044.54 crore, while Domestic Institutional Investors (DIIs) bought shares worth Rs 2,918.94 crore, according to provisional data from NSE. did.
Stocks under F&O ban on NSE
NSE has added Hindustan Copper, Vodafone Idea and Zee Entertainment Enterprises to the F&O banned list on April 24. Biocon, Piramal Enterprises and SAIL have been removed from the list.
With information from Reuters and other organizations
