Business strategy

Sensex Down 500 pts, Nifty Near 16,950; HDFC, Adani Wilmar in Focus

After closing in red on Friday, the benchmark indices Sensex and Nifty50 opened in the red on Monday. The BSE Sensex fell 500 points to 56,528, while the NSE Nifty shed 131 points to 16,970. Among the Sensex-30 shares, Infosys, Tech M, Bajaj Twins, Maruti, Asian Paints, Sun Pharma, Titan, L&T and HDFC twins were the top laggards. IndusInd Bank, NTPC, and Axis Bank, meanwhile, were the only stocks in the green.

IndusInd Bank, NTPC, and Axis Bank, meanwhile, were the only stocks in green on Sensex. Tata Motors and Divi’s Labs were the additonal gainers on the Nifty.

In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down up to 0.6 per cent.

Sectorally, Nifty Auto, IT, financials, metals and consumer durables were the top losers, down up to 1 per cent. Nifty private bank, meanwhile, turned flat.

Among stocks, IndusInd Bank was the top Sensex winner, up 4 per cent on strong Q4 results. The lender reported a 51 per cent jump in net profits, aided by lower provisions and higher net interest income. Its net profit for the quarter totalled to Rs 1,401 crore compared to Rs 926 crore in the year ago period.

Just Dial, on the other hand, fell 3 per cent. The company’s Q4 consolidated net profit declined 34.3 per cent to Rs 22.05 crore for the quarter ended March 2022 vs Rs 33.57 crore in the year ago quarter.

Global Cues

The Dow Jones Industrial Average slumped more than 900 points Friday as another sharp sell-off led by technology stocks added to Wall Street’s losses in April, leaving the S&P 500 with its biggest monthly skid since the start of the pandemic. The S&P 500 fell 155.57 points to 4,131.93 Friday. The Dow dropped 939.18 points to 32,977.21. The Nasdaq slid 536.89 points to 12,334.64. The benchmark S&P 500 fell 3.6 per cent and finished April with an 8.8 per cent loss, its worst monthly slide since March 2020. The Dow slumped 2.8 per cent.

Financial markets in China, Hong Kong, Indonesia, Singapore, Taiwan and Thailand are closed on Monday for public holidays.

Tokyo shares drifted lower on Monday ahead of three consecutive public holidays, as investors focused on an upcoming US Federal Reserve monetary policy meeting. The Nikkei 225 index opened flat then slipped 0.52 per cent, or 139.55 points, to 26,708.35 in morning trade while the broader Topix index fell 0.23 per cent, or 4.33 points, to 1,894.73.

Read all the Latest News , Breaking News and IPL 2022 Live Updates here.

Source link

Leave a Reply

Your email address will not be published.