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India’s benchmark indices, the BSE Sensex and NSE Nifty, are set to open lower on Monday, reflecting weakness in their Asian peers and a negative finish on Wall Street on concerns about rising rates. Negative trends in SGX Nifty also signaled a lower open for domestic bourses, with SGX Nifty futures trading 80 points, or 0.46%, lower at 17,250 on the Singapore Stock Exchange at 8 p.m. :20 am Investors will be watching corporate earnings numbers for future clues, with IT firm Mindtree, mortgage lender Star Housing Finance and others releasing earnings reports today. On the macro front, WPI-based inflation figures will be released later in the day.

Last week, domestic stocks liquidated the holiday-shortened week in negative territory amid concerns about rising inflation and fears of a possible aggressive policy stance by the US Federal Reserve. Benchmark BSE Sensex ended the week down 1,108 points, or 1.9%, at 58,334 on April 13. The 50-stock NSE Nifty Index fell 1.7% to 17,476 during the same period. Hindalco Industries was the main laggard, followed by Tata Motors, Wipro, Coal India and Bajaj Finserv, among others. Among sectors, the information technology index fell the most, followed by teck, metal, real estate and capital goods.

Actions to focus:

HDFC Bank: The country’s largest private sector lender by assets has posted a YoY growth of 22.82% in its net profit to ₹10,055.2 crore for the fourth quarter ended March 31, 2021. (net interest income plus other income) increased by 7.3% YoY to ₹26,509.8 crore in the fourth quarter of FY22.

Infosys: The country’s second largest IT service company has posted a 12% year-on-year rise in its consolidated net profit to ₹5,685 crore in the January-March quarter of FY2021-22. Consolidated revenue from operations has grown by 22.7% to Rs 32,376 crore, compared with Rs 26,311 crore during the corresponding quarter last year.

Indian Coal: The state-owned coal miner will launch its own electronic auction platform and has informed new and existing bidders to register on the portal, according to a company official.

Tata Steel: The steelmaker’s board will consider a proposal to split its equity shares of ₹10 par value each. The decision will be subject to regulatory, statutory and shareholder approvals.

NGO: The major oil and gas company has successfully drilled three gas wells in Tripura using new technology, managed pressure drilling (MPD), a company official said.

ICICI prudential life insurance: The insurer has reported a two-fold increase in its net profit to Rs 185 crore for the January-March quarter, compared to ₹64 crore in the prior year period.

Lupine: The drugmaker has received US health regulator approval for an antidepressant drug, desvenlafaxine 25 mg tablets.

Mahindra and Mahindra: The large carmaker has increased the price of its vehicles by 2.5% in the context of rising prices for key raw materials such as steel, aluminum and palladium.

TVS engine: The two- and three-wheeler manufacturer has bought a 1.81% stake in Roppen Transportation Services (Rapido).

UltraTech Cement: The wholly owned subsidiary of the Aditya Birla group company in the United Arab Emirates has invested $101 million to acquire a 29.39% stake in RAK Cement Co for white cement and PSC building materials.

Here are the key things investors need to know before the market opens today:

US stocks close lower

On Wall Street, all three major US indices closed lower on Friday amid looming fears about the Federal Reserve’s aggressive policy stance in coming months, while concerns about the Russian-Ukrainian war and the Covid-19 situation in China also affected market confidence. The S&P 500 fell 1.21%, the Dow Jones Industrial Average fell 0.33%, and the Nasdaq Composite fell 2.14%.

Asian markets fall on early deals

Stocks in the Asia-Pacific region were trading mostly lower at the open of trading on Wednesday, following weak signals from US markets. Concerns about aggressive rate hikes by the US Federal Reserve and the ongoing conflict between Russia and Ukraine weighed on market sentiment.

Japan’s benchmark Nikkei 225 index slumped 1.9% at the open of deals, South Korea’s KOSPI fell 0.1% and Singapore’s Straits Times Index fell 0.4%. In a similar trend, Thailand’s SET Composite lost 0.25%, while Taiwan’s weighted index fell 0.35%.

Bucking the trend, Australia’s ASX 200 Index rose 0.6% and Indonesia’s Jakarta Composite added 0.5%.

In mainland China, the Shenzhen component traded flat with a negative bias, while the Shanghai composite fell 0.9% in early trading.

Oil prices rebound as Ukraine crisis worsens

The price of Brent and US crude rallied on Monday amid fresh concerns about tighter global supply, and the worsening situation in Ukraine raises the possibility of further sanctions against Russia. In Asian trading hours on Monday, Brent oil for June delivery rose 1% to $112.8 a barrel, while US West Texas Intermediate (WTI) crude futures rose 0.8% to $112.8 a barrel. 107.2 dollars per barrel.

Meanwhile, national oil retailers kept gasoline and diesel prices unchanged for the 12th consecutive day on Monday, after several hikes in the past month. National oil companies have raised fuel tariffs by ₹10 per liter since the end of a four-and-a-half-month pause in tariff review on March 22, when the results of five Assembly polls were announced.

FPIs withdraw ₹4500 cr from shares last week

Foreign Portfolio Investors (FPIs) pulled more than ₹4.5 billion rupees from the Indian stock market last week amid fears of a higher-than-expected rate hike by the US Federal Reserve due to rising inflation.

FIIs remain net sellers, DIIs net buyers

The Foreign Institutional Investors (FIIs) became net sellers in the Indian stock market on April 13, while Domestic Institutional Investors (DIIs) remained net buyers. According to the exchange data, IIFs unloaded shares worth ₹2,061 crore, while DIIs bought net shares worth ₹1,410.85 crore.

corporate earnings

Mindtree, Star Housing Finance, Ramsarup Industries, Sheetal Cool Products, SE Power, SM Gold, Earum Pharmaceuticals, DRC Systems India, Mishtann Foods and Swiss Military Consumer Goods will release their quarterly results today.

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