Sensex Today Live : 11 am market update

Sensex Today Live : Indian benchmark indices were in the green on Monday, as investors’ shifted focus from the easing tensions between Israel and Iran to the company earnings.

At 11 am, Sensex was up 343.84 points, or 0.47%, at 73,432.17, and Nifty was up 129.65 points, or 0.59%, at 22,276.65.

Sensex Today Live : Welspun Corp bags order totalling ₹872 crore since 22 March

Sensex Today Live : Welspun Corp today informed the exchanges that it has bagged order totalling ₹872 crore since 22 March, when it made its last disclosure. In an exchange filing, the company said, “We are pleased to announce the receipt of multiple line pipe orders, both in India & USA, cumulatively valued at ~ ₹872 Crores since our last disclosure made on 22nd March, 2024″.

The company said that among these orders, one is for the supply of Concrete Coated LSAW Pipes and Bends for a critical oil transportation project in the Middle East. It added that the execution of these orders will be during FY25.

Sensex Today Live : Hinduja Global Solutions company CELERITYX launches unified network-as-a-service solution; partners with credit society federation MAFCOCS for 40,000 branches in Maharashtra

Sensex Today Live : Hinduja Global Solutions today informed the exchanges that CelerityX, the enterprise networking solutions business of OneOTT Intertainment Ltd, a subsidiary of Hinduja Global Solutions, announced the launch of OneX, a unified network-as-a-service solution covering network management, security, and LAN-side control solution.

The company also announced the deployment of OneX to tackle the connectivity challenges faced by cooperative credit societies in Maharashtra. Through a strategic partnership with Maharashtra State Cooperative Credit Societies Federation (MAFCOCS), it aims to enable secure and high uptime banking connectivity for over 40,000 branches in the state, with the potential to serve over 100,000 branches nationwide, the company said.

Sensex Today Live : Star Cement starts commercial production from new 3.3 MTPA capacity clinker line at Lumshnong, Meghalaya

Sensex Today Live : Star Cement informed the exchanges today that it has started commercial production at its new clinker line at Lumshnong, Meghalaya, with a capacity of 3.3 MTPA.

In an exchange filing, the company said, “We are pleased to inform you that the Company has successfully commenced commercial production today i.e. April 21, 2024, from its’ New Clinker Line of 3.3 MTPA Capacity situated at Lumshnong, Meghalaya”.

Sensex Today Live : Vikas Lifecare’s Agro Products division secures orders worth ₹50 crore

Sensex Today Live : Vikas Lifecare today informed the exchanges that it has secured significant orders for its Agro Products Division.

The division has bagged an order for rice, valued at about ₹50 crore. Of this, ₹40 crore are attributed to premium rice varieties, while the remaining ₹10 crore represents orders for organic breeds of rice, the company said in its exchange filing.

Sensex Today Live : Zydus launches Mirabegron extended-release tablets in the US

Sensex Today Live : Zydus Lifesciences informed the exchanges today that it has launched Mirabegron Extended-Release Tablets, 25 mg in the US market.

The company had earlier received final approval from the United States Food and Drug Administration (USFDA) to market Mirabegron Extended-Release Tablets USP 25 mg and 50 mg, the company said.

Zydus is among the first suppliers to launch the generic version of Mirabegron Extended-Release Tablets, USP 25 mg in the US market and is prepared to launch Mirabegron Extended-Release Tablets, 50mg imminently, the company added.

Mirabegron is indicated for the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency and urinary frequency. The drug will be manufactured at the group’s formulation manufacturing facility in Ahmedabad SEZ, India.

Sensex Today Live : 10 am market update

Sensex Today Live : Indian benchmark indices were in the green on Monday, as investors’ shifted focus from the easing tensions between Israel and Iran to the company earnings.

At 10 am, Sensex was up 228.8 points, or 0.31%, at 73,317.13, and Nifty was up 84.95 points, or 0.38%, at 22,231.95.

Sensex Today Live : Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher, gives technical forecast for BankNifty

BankNifty produced a strong bullish candle, regaining from 46,600 levels to end on a positive note near the 47,600 zone, moving above the important 50EMA level of 47,180 zone, and with sentiment a little bit improved, we can expect further rises. Bankex has closed above 100 DMA and holds the level of 52,500, which is a 0.886% retracement of its recent rise. A decisive close above the 54,300 level will confirm the positive bias. Banknifty would have a daily range of 47,000–48,100 levels, with Bankex support at 53,000 and resistance at 54,300 levels.

Sensex Today Live : Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher, gives technical forecast for Nifty

Sensex Today Live : Nifty opened with a bearish outlook near the 21,800 zone, almost with a double bottom formation, and recovered strongly to move past the significant 50EMA level of the 22,110 zone to improve the bias and sentiment to some extent. With volatility still expected, the index needs to move decisively past the 22,350 zone to establish conviction and anticipate a further rise in the coming days. Sensex also recovered strongly after opening lower and closing above the 20 DMA level of 73,500, which will improve the bias. The support for the week is seen at 72,400/22,000 levels, while the resistance is seen at 73,800/22,350 levels.

Sensex Today Live : Suraj Estate Developers acquires freehold land measuring 1,073.42 square meters for ₹33.10 crore

Sensex Today Live : Suraj Estate Developers informed the exchanges today that it has acquired a freehold plot of land measuring 1,073.42 square meters situated off Lady Jamshedji Road, Mahim (West), Mumbai for a total consideration of ₹33.10 crore.

The company said it is a redevelopment project which entails redevelopment of 7 tenants/occupants who have vacated their respective premises and the plot is rendered vacant. After deducting the FSI required for rehabilitating the said tenants / occupants of the property and surplus area to be handed over to MHADA, the estimated balance carpet area available for sale is about 2,787 square meters (30,000 sq. ft.) with a GDV of Rs. 120 crores, the company said in its exchange filing.

Sensex Today Live : Escorts Kubota to increase price of tractors from 1 May

Sensex Today Live : Escorts Kubota today informed the exchanges that it will be increasing the prices of its tractors from 1 May, 2024. in an exchange filing, the company said, “Escorts Kubota Limited – Agri Machinery Business Division, shall be increasing the prices of its tractors effective 1st May 2024 onwards. The increase in prices would vary across models/variants and geographies”.

Sensex Today Live : MCX shares up nearly 2% after company decides to let FPIs participate in oil & natural gas derivatives

Sensex Today Live : The Securities and Exchange Board of India has rejected three candidates proposed by Multi Commodity Exchange of India Ltd (MCX) for the position of a new chief executive. This role will be vacant from May 10 when the current leader concludes his five-year term. Instead, Sebi has instructed MCX to recommence the selection process and make temporary arrangements to manage the exchange after Padala Subbi Reddy steps down as the managing director and CEO next month. In other news, MCX has permitted Foreign Portfolio Investors (FPIs) – including individuals, family offices, and corporates – to participate in oil and natural gas derivatives, which constituted 77% of MCX’s turnover in March. This decision, effective immediately, coincides with a surge in global energy derivatives activity.

Sensex Today Live : Jio Financial Services shares were up more than 2% after the company reported a 6% rise in consolidated net profit

Sensex Today Live : The company, on Friday, 19 April, disclosed a 6% QoQ surge in its consolidated net profit, which amounted to ₹310 crore for Q4FY24, compared to ₹294 crore in the previous quarter. The company’s consolidated PAT for FY24 was ₹1,605 crore. In the fourth quarter of FY24, Jio’s standalone PAT rose to ₹78 crore, up from ₹71 crore in the preceding quarter. The standalone PAT for the entire fiscal year FY24 was ₹383 crore. Jio’s total ex-dividend income escalated to ₹418.1 crore, a slight increase from ₹413.6 crore in the previous quarter. In the fourth quarter, Jio’s interest income was ₹280.7 crore, marking an increase from ₹269 crore in the third quarter. The company’s revenue saw a minor increase to ₹418 crore from ₹414 crore in the December quarter.

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : All the sectoral indices were in the green, with PSU Bank, and Consumer Durables the biggest gainers.

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Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market were outperforming the benchmark indices, with the BSE SmallCap index up 1.16%, and the BSE MidCap index up 0.93%. 

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Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : Only two stocks, HDFC Bank and ONGC, out of the 50 stocks on the Nifty were in the red, while BPCL, UltraTech Cement, Larsen & Toubro, Bajaj Finance, and Kotak Mahindra, were the top gainers.

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Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Only three stocks out of the 30 were in the red, with Bajaj Finance, Axis Bank, UltraTech Cement, Larsen & Toubro, and ICICI Bank, emerging as the top gainers, while HDFC Bank, Mahindra & Mahindra, and Reliance Industries, were the drags. 

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Sensex Today Live : Opening Bell

Sensex Today Live : Indian benchmark indices opened in the green on Monday, as investors’ shifted focus from the easing tensions between Israel and Iran to the company earnings.

At opening bell, Sensex was up 344.29 points, or 0.47%, at 73,432.62, and Nifty was up 150.75 points, or 0.68%, at 22,297.75.

Sensex Today Live : Benchmark indices green at pre-open

Sensex Today Live : Indian benchmark indices were green at pre-open on Monday, as focus shifted from the easing tensions between Israel and Iran to the company earnings.

Sensex was up 582.99 points, or 0.80%, at 73,671.32, and Nifty was up 189.90 points, or 0.86%, at 22,336.90 during pre-open.

Sensex Today Live : UAE’s International Holding wants a majority stake in Vedanta’s Zambian mines

Sensex Today Live : The mining investment division of Abu Dhabi’s most prestigious firm has proposed to acquire a controlling interest in Vedanta Resources’ Zambian copper properties, according to two sources privy to the situation. This move is part of their ambition to establish a copper mining stronghold in Africa.

Recently, the International Holding Company’s subsidiary made a bid exceeding $1 billion to purchase a 51% share in Konkola Copper Mines (KCM), owned by Indian tycoon Anil Agarwal’s Vedanta, as per the sources.

The subsidiary, International Resources Holding (IRH), is swiftly expanding its emerging copper mining operations in Zambia. This follows their acquisition of a 51% stake in Mopani Copper Mines in a transaction valued at $1.1 billion. Last month, IRH announced its intention to bid for a stake in Lubambe Copper Mine, currently owned by EMR Capital and up for sale.

This flurry of deals is part of a broader initiative by the oil-rich nations of the United Arab Emirates (UAE) and Saudi Arabia to secure essential metal resources from Africa. This strategy could also facilitate their involvement in the shift towards green energy.

Sensex Today Live : What to expect from Indian stock market in trade on April 22

Sensex Today Live : The Indian equity indices, Sensex and Nifty 50, are anticipated to commence Monday’s trading session on a positive note, mirroring the upward trend in Asian markets despite varied global indicators. The Gift Nifty trends also suggest a gap-up opening for the Indian benchmark index, trading around the 22,240 level, nearly 110 points premium from the previous close of Nifty futures.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, noted that the current chart pattern indicates a formation of a bullish piercing line type candle pattern, signaling a short-term bottom reversal for the market. The Nifty maintained support around 21,750 levels, close to the previous swing low of March 20th, suggesting a potential double bottom type formation. After breaking below the lower end of the channel at 22,000 levels, the Nifty regained the lost ground and closed above that support on Friday. (Read the full story here.)

Sensex Today Live : Eight key things that changed for market over weekend – Gift Nifty, China data to HDFC Bank Q4 results

Sensex Today Live : The Indian equity indices, Sensex and Nifty 50, are projected to commence trading on a positive note on Monday, influenced by the upward trend in Asian markets despite mixed global indicators. Last week, while Asian markets experienced a surge, the US stock market concluded on a lower note due to geopolitical tensions inducing risk-aversion.

This week, the focus will be on China’s loan prime rates and new data from Japan and South Korea. On the previous Friday, the Indian stock market indices broke a four-day losing streak and closed with substantial gains. The Sensex surged by 599.34 points or 0.83%, closing at 73,088.33, while the Nifty 50 increased by 151.15 points or 0.69%, settling at 22,147.00.

Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, stated that the markets are expected to experience volatility within a wider range due to contrasting cues. Negative factors include the escalation of geopolitical tension in the Middle East, hawkish comments from the US Fed, and selling by Foreign Institutional Investors (FIIs), which are causing investor unease. On the other hand, the anticipation of robust earnings from index heavyweights and buying at lower levels demonstrate market strength. The primary focus this week will be on the earnings season and global cues. (Read the full story here.)

Sensex Today Live Updates : Asian markets, Gift Nifty firm, indicating gap-up open for Indian markets

Sensex Today Live Updates : Markets in India were likely to open on a positive note as focus shifted from the easing tensions between Israel and Iran to the company earnings.

Benchmark indices were also likely to open in the green, with the Gift Nifty trading at 22,273 at 8:30 am, more than 100 points ahead of Nifty 50’s Friday close of 22,147.

The Nasdaq and the S&P 500 closed sharply lower on Friday and Treasury yields dipped as investors juggled lackluster earnings, uncertainties surrounding central bank policy and geopolitical strife.

Gold and crude oil prices advanced as market participants kept an uneasy eye on unfolding turmoil in the Middle East.

The Dow was the lone gainer among the three major U.S. equity indexes, while the Nasdaq, weighed down by megacap tech and tech-related momentum stocks, slid 2.05%.

The session marked six straight daily declines for the S&P 500 and the Nasdaq, the longest losing streak since October 2022.

The S&P 500 and the Dow registered their steepest weekly percentage losses since March 2023, while the Nasdaq saw its largest weekly drop since November 2022.

Mounting tensions in the Middle East appeared to plateau after Tehran downplayed Israel’s retaliatory drone strike against Iran, a move that seemed geared toward averting regional escalation.

While first-quarter reporting season is still in its early stages, expectations have dimmed. Analysts now see aggregate S&P 500 earnings growth of 2.9% year-on-year, down from the 5.1% estimate on April 1, according to LSEG.

Chicago Federal Reserve President Austan Goolsbee said on Friday that the Fed’s restrictive policy is “appropriate” given economic strength and the slower-than-expected process of bringing inflation down closer to its 2% target.

The Dow Jones Industrial Average rose 211.02 points, or 0.56%, to 37,986.4, the S&P 500 lost 43.89 points, or 0.88%, to 4,967.23 and the Nasdaq Composite dropped 319.49 points, or 2.05%, to 15,282.01.

European shares touched their lowest level in more than a month but closed well off their intraday trough as anxieties over strife in the Middle East eased and solid earnings provided some support.

The pan-European STOXX 600 index lost 0.08% and MSCI’s gauge of stocks across the globe shed 0.84%.

Emerging market stocks lost 1.30%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 1.61% lower, while Japan’s Nikkei lost 2.66%.

Crude oil prices dipped earlier as supply concerns eased. U.S. crude rose 0.50% to settle at $83.14 per barrel, while Brent settled at $87.29 per barrel, up 0.21% on the day.

Gold advanced, putting the safe-haven metal on track for its fifth straight weekly gain. Spot gold added 0.4% to $2,386.49 an ounce.