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Sensex Today Live Updates : Asian stocks rose after US shares rebounded from a $2 trillion selloff on optimism big tech leaders will announce hefty profits this week.
Equity benchmarks in Hong Kong advanced, along with those in Japan and South Korea, while mainland Chinese equities slipped. Futures for US shares traded mixed after the S&P 500 topped 5,000 — halting a six-day rout — while the Nasdaq 100 rose 1% on optimism over its upcoming results.
Investors are waiting to see if earnings will meet the lofty expectations for artificial intelligence this week when about 180 companies in the S&P 500 — representing over 40% of the gauge’s market capitalization — are due to report their results. Stakes are high for the “Magnificent Seven” megacaps, whose profits are forecast to rise nearly 40% from a year ago, according to Bloomberg Intelligence. The focus on earnings comes after a rout fueled by geopolitical fears and signals the Federal Reserve will be in no rush to cut rates.
“Yesterday’s relief rally in Asia is likely to extend today,” said Tony Sycamore, a market analyst at IG Australia in Sydney. “However as we approach the business end of the week in the form of mega tech earnings and key macro data, the pace of the gains is expected to slow.”
Treasuries were steady in Asia ahead of a flurry of bond auctions that will test investors’ appetite after yields hit the highest in 2024. Australian and New Zealand bonds gained.
In Asia, focus returns to China’s role as a major lender to developing nations amid a report the head of its central bank wants creditors engaged in debt restructurings to agree on how to fairly share the burden of relief. Meanwhile, UBS Group AG upgraded Chinese and Hong Kong stocks to overweight, citing resilient earnings despite the nation’s property and macro worries.
Elsewhere, the Bank of Japan is widely expected to leave its benchmark interest rate unchanged Friday, with investors focusing on any hints of a less dovish tilt as the yen trades around a 34-year low. The Japanese currency briefly gained against the dollar after Japanese Finance Minister Shunichi Suzuki said the environment is in place to intervene in the foreign exchange market if needed.
Oil nudged higher as traders weighed the next steps between Israel and Iran amid signs of easing hostilities following a tit-for-tat exchange of attacks last week. Gold edged higher after tumbling 2.7% on Monday as haven demand waned.
Sensex Today Live : Heubach Colorants shares down 10% after group company Heubach GmBH files for bankruptcy in Germany
Sensex Today Live : Heubach Colorants informed the exchanges today that its related party and group company Heubach GmBH has filed for insolvancy at a German court. In an exchange filing, the company said, “We wish to inform you that Heubach GmbH, a related party of the Company and a part of the Heubach Group, has issued a press release disclosing that it has filed an application for the opening of regular insolvency proceedings over its assets with the competent insolvency court in Braunschweig and, at the same time, applied for the jurisdiction of the Braunschweig insolvency court as the group court for the German subgroup of the Heubach Group.”
Sensex Today Live : Tejas Networks shares hit 20% upper circuit as company turns a ₹146-crore profit in Q4FY24
Sensex Today Live : The company announced a net profit of ₹146.8 crore for Q4FY24, on Monday, April 22. This is a significant turnaround from the corresponding quarter last year when the company reported a net loss of ₹11.5 crore, as stated in a regulatory filing. The company’s operational revenue surged 343.40%, to ₹1,326.9 crore from ₹299.3 crore in the same period last year. The company reported trade receivables of ₹1,458 crore, with ₹650 crore successfully collected during the quarter. Consequently, the working capital witnessed a significant increase of ₹1,519 crore. Additionally, Tejas and its subsidiaries were granted 22 patents in the fourth quarter of FY24, bringing the total count to 335.
Sensex Today Live : Sector Indices Heat Map
Sensex Today Live : Barring the metal index, all other sectoral indices were in the green, with the Realty index gaining the most, at 2.46%.
Sensex Today Live : Broader market indices heat map
Sensex Today Live : The broader market was climbing, with the BSE SmallCap index up 0.71%, and the BSE MidCap index up 0.35%.
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Sensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : 10 out of the 50 stocks on the Nifty 50 were in the red, with Power Grid Corp., Hindalco, BPCL, Britannia, and Tata Conusmer Products emerging as the top drags, while Bharti Airtel, Titan, Wipro, HCLTech, and NTPC, emerging as the top gainers.
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Sensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : Only four stocks, Power Grid Corp., Nestle India, Axis Bank, and JSW Steel, were in the red, while Bharti Airtel, HCL Tech, Wipro, Titan and Reliance Industries, were the top gainers.
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Sensex Today Live : Vodafone Idea shares climb around 2% after company’s FPO sails through
Sensex Today Live : The company’s follow-on public offer (FPO), the largest in India at ₹18,000 crore, reached full subscription on its third day. This was largely due to the keen interest shown by global institutional investors such as GQG, Capital Group, and Fidelity Investments. The portions for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) were subscribed 1.23 times and 1.93 times respectively, while the retail segment saw a subscription of 42%.
Sensex Today Live : Opening Bell
Sensex Today Live : Indian benchmark indices climbed at open on Monday, following Asian peers higher as investors’ focus shifted to companies results for the quarter ended March 31, 2024.
At opening bell, Sensex was up 275.52 points, or 0.37%, at 73,924.14, and Nifty was up 60.95 points, or 0.27%, at 22,397.35.
Sensex Today Live : Benchmark indices green at pre-open
Sensex Today Live : Indian benchmark indices climbed at pre-open on Monday, following Asian peers higher as investors’ focus shifted to companies results for the quarter ended March 31, 2024.
Sensex was up 400.32 points, or 0.54%, at 74,048.94, and Nifty was up 110.65 points, or 0.5%, at 22,447.05 during pre-open.
Sensex Today Live : Mahindra Finance detects ₹150-crore fraud at a North East branch, postpones Q4 results
Sensex Today Live : Mahindra Finance today informed the exchanges that it has detected a fraud worth ₹150 crore at one of its North East branch. In an exchange filing on April 23, the company said, “We hereby inform you that during the end of 4th quarter of the financial year ended 31st March 2024, a fraud was detected at one of Company’s branches in the North East. In respect of retail vehicle loans disbursed by the Company the fraud involved forgery of KYC documents leading to embezzlement of Company funds. The investigations in the matter are at an advanced stage. The Company estimates that the financial impact of this fraud is unlikely to exceed Rs.150 Crores”.
The company added, “In view of this development, the agenda matters pertaining to approval of the audited standalone and consolidated financial results of the Company for the fourth quarter and financial year ended 31st March 2024, recommendation of dividend, AGM and related matters, which were to be considered at the Board meeting scheduled to be held on 23rd April 2024, are being deferred to a later date, which shall be intimated in due course. The Audit Committee and the Board Meeting scheduled on 23rd April, 2024 will consider all other matters scheduled to be discussed at the respective meetings, including increase in aggregate borrowing limits and fund raise via issue of Non-convertible debentures.”
Sensex Today Live : What to expect from Indian stock market in trade on April 23
Sensex Today Live : The Indian market indices, Sensex and Nifty 50, are anticipated to commence Tuesday’s trading session on a positive note, driven by favorable global indicators. The Gift Nifty trends suggest a neutral start for the Indian benchmark index, with it trading at around 22,370 levels.
On Monday, the domestic equity indices concluded with significant gains for the second day in a row, with Nifty closing above the 22,300 mark. Nifty 50 charted a small candle with an identical open and close, accompanied by a long lower shadow.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, interpreted this market activity as the formation of a long-legged doji or dragonfly doji type candle pattern. He stated, “This pattern, formed after a day of upward movement, does not indicate any significant alert for bulls at the highs. Nifty has surpassed the initial barrier at 22,300 levels and is likely to face strong resistance at 22,500 levels (the opening downside gap of 15th April) in the short term.”
Shetti further speculated that if Nifty manages to maintain above 22,500, the market could potentially achieve new all-time highs in the near future. (Read the full story here.)
Sensex Today Live : Six key things that changed for market overnight – Gift Nifty, Tesla shares to Reliance Q4 results
Sensex Today Live : The Indian equity market indices, Nifty 50 and Sensex, are projected to start on a positive note, buoyed by encouraging global market indicators and an uplifted mood. Asian markets exhibited an upward trend, and the US stock market concluded with overnight gains, primarily driven by technology and banking stocks.
Investors will keep a close eye on crucial macroeconomic data and corporate earnings, which could potentially influence further stock market movements.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, commented, “The equity markets maintained their buoyancy, fueled by robust global cues, as widespread buying was observed due to a risk-on sentiment. Despite last week’s geopolitical tensions in West Asia causing a dip in global assets, the lack of any new conflict outbreak between Israel and Iran helped soothe market sentiment, triggering substantial buying for the second consecutive session. The significant drop in crude oil prices, currency, and gold also contributed to the surge in equity assets.” (Read the full story here.)
Sensex Today Live : Global peers, Gift Nifty gain, indicating strong start for Indian markets; Q4 earnings in focus
Sensex Today Live : Indian shares are set to open higher on Tuesday, tracking a rebound in global markets, while Reliance Industries will be in focus after the conglomerate beat fourth-quarter profit estimates.
India’s GIFT Nifty was trading at 22,396.50, as of 08:04 a.m. IST, indicating that the Nifty 50 will open above its Monday’s close of 22,336.40.
The benchmark indexes Nifty and S&P BSE Sensex extended gains for a second session in a row on Monday, tracking a rebound in global markets due to easing worries over the escalation of tensions in the Middle East.
Asian shares extended gains on Tuesday, taking cues from Wall Street as focus shifts to earnings results from U.S. tech giants in the week, while a still strong dollar pressured the Japanese yen to fresh 34-year lows.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%, helped by a 1% jump in Taiwanese shares and a 0.8% advance in Hong Kong’s Hang Seng index.
The Asian index rose 1% the day before on easing fears of a major escalation in the Middle East conflict, recovering some of the 3.7% losses last week. Japan’s Nikkei edged up 0.1%.
Tech shares in the region cheered. Taiwan Semiconductor Manufacturing Co Ltd rallied 1.5% while MSCI Asia-Pacific ex-Japan IT index jumped 0.8%. However, Chinese shares fell, with the blue chips losing 0.6%.
On Wall Street, big tech shares outperformed ahead of their quarterly results this week, sending the Nasdaq 1.1% higher.
“Odds are the earnings reports that we see over the next few weeks will be positive, but obviously there’s still issues around what the Fed will do the next,” said Shane Oliver, chief economist at AMP. “It’s too early to say that problems in the Middle East have gone away.”
Oil prices recovered some of the sharp losses overnight as investors continued to assess the situation in Middle East. Brent futures rose 0.2% to $87.16 a barrel, while U.S. crude gained 0.2% to $82.06 a barrel.
Gold prices, however, lost 1% to $2,295.9 per ounce, after slumping 2.7% overnight.
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