Apr 12, 2024, 3:53 pm IST
Market Close:
Indian benchmark indices finished lower due to selling in all sectors, with Nifty closing at approximately 22,500.
The Nifty was down 234.40 points, or 1.03 percent, at 22,519.40 at closure, while the Sensex was down 793.25 points, or 1.06 percent, at 74,244.90. A little over 1305 shares rose, 1988 shares fell, and 68 shares remained constant.
Sun Pharma, Maruti Suzuki, Power Grid Corporation, Titan Company, and ONGC were the biggest losers on the Nifty, while winners included Divis Labs, Tata Consumer Products, Bajaj Auto, Tata Motors, and TCS.
Every sectoral index saw a decline of one percent at the end, including those for banks, healthcare, FMCG, media, real estate, oil, and gas.
The BSE Smallcap and Midcap indices both saw a 0.5 percent decline.
Apr 12, 2024, 3:46 pm IST
Indian Market Tumbles More Than 1% In Friday's Session
Today Sensex fell more than 790 Points, while the Nifty 50 traded near the 22,500 range. Top Losers in the session were noted as Sun Pharma, Maruti Suzuki & Powergrid, falling 3.96%, 2.72%, and 2.04% since yesterday, while top gainers recorded were Divis Labs and Bajaj Auto. Sectoral indices fell with the lowest range in Pharma, Healthcare, and Oil. As of this week, the Indian market grew by 0.14% or 100 points in Sensex and 0.23% or 51 Points in the Nifty 50 index, starting to breach the fresh resistance levels posted this week.
Apr 12, 2024, 3:24 pm IST
Uno Minda acquires a sizable plot of land in Haryana for a new alloy wheel factory.
For its current and upcoming expansions, Uno Minda has acquired a strategically important 94.32-acre plot of land at IMT Kharkhoda, Haryana HSIIDC. Of which, a greenfield alloy wheel plant with a monthly capacity of 120,000 wheels has been allocated 25 acres. Phase 1 of the plant's five-year capital outlay of Rs 542 crore would be commissioned in Q2 of FY26.
Apr 12, 2024, 2:44 pm IST
Godfrey Phillips Gains Almost 4% Following Board Decision To Leave "24Seven" Retail Business Division
Following the company's announcement on Friday, April 12, that it would be exiting its retail business segment, shares of Godfrey Phillips India Ltd surged by almost 4%. Under the brand name "24Seven," the tobacco maker runs its retail business section.
The company declared in a report to the stock exchanges on Friday that its Board of Directors resolved to cease running the retail business division "24Seven" at a meeting that took place on April 12, 2024.
Apr 12, 2024, 2:32 pm IST
TCS is expected to announce increased profits and improved margins in Q4 of FY24, as shares decline
In early trading on April 12, before the business released its results for the quarter that concluded on March 31, 2024 (Q4FY24), shares of Tata Consultancy Services (TCS) fell by 0.5 percent.
The average of ten brokerage predictions indicates that the IT giant's revenue in rupees will increase by 1.5% on a quarter-over-quarter basis to Rs 61,414 crore.
The poll indicated that its net profit for the quarter may increase 5.8 percent sequentially. TCS is anticipated to be in the greatest position to spur revenue growth among Tier-I IT organisations.
Apr 12, 2024, 2:00 pm IST
5 Stocks Defy Bear Market
Amidst sharp selling in Sensex and Nifty, 5 stocks skyrocketed in the range of 6% to 10%. They are Neuland Lab, Hindustan Zinc, Quess Cor, IGSEC Heavy Engineering, and Archean Chemical Industries.
Apr 12, 2024, 12:35 pm IST
TCS Shares Cross Rs 4,000
Tata Consultancy Services (TCS) is the biggest IT stock in India in terms of market cap, and it crossed the Rs 4,000 mark on Friday as investors await Q4 results announcement later in the day. TCS will also reward investors with a final dividend payout for FY24. TCS is among the top picks in the IT sector for Q4FY24 earnings amidst a challenging environment.
TCS shares gained nearly 1% ahead of earnings.
Apr 12, 2024, 11:55 am IST
Top Gainers & Top Losers In Indian Market By Mid-Session
Auto stock rallied today, Eicher Motors and Tata Motors are among the top gainers, both climbing 1.27% and Divis Labs traded 1.2% in the green. The top losers in today's session are Sun Pharma, Titan, and Maruti Suzuki. Shares fell by 2.75%, 1.84%, and 1.54% since yesterday's closing. Sectoral indices show Nifty Pharma, Nifty FMCG, and Nifty Healthcare as the highest loser sectors, pulling the market to take a reversal amidst overall sentiment for an upward push by the end of the session today.
Apr 12, 2024, 11:23 am IST
Yellow Metal Price In India Today Jumps Again To Breach All-Time High Range
India's gold rate today for 10 grams of 24-carat is Rs. 73,310/- and Rs. 67,200/- per 10 grams of 22-carat gold. Today's yellow metal prices have surged sharply for both pure and standard gold since yesterday, rising by Rs. 1,090/- and Rs. 1,000/- respectively. Likewise, 18-carat gold prices in India today have increased rapidly with international demand, costing Rs. 54,980/- per 10 grams, a hike of Rs. 820/- since the day earlier.
Apr 12, 2024, 11:00 am IST
TCS Q4 Results Preview, Dividend 2024: Will Tata Group's Biggest Company Defy Uncertainties Of IT Sector?
Tata Group-backed Tata Consultancy Services (TCS) will be in the limelight on Friday for its Q4 results announcement for FY24, and final dividends recommendation. The outlook for the IT sector is uncertain for both Q4 and the coming months of FY25. The sector is struggling with muted discretionary spending, mixed growth, soft trends, and tepid new large deals. The IT sector is expected to end FY24 on a weak note. But, what about TCS? TCS in the previous quarter had reported far better growths than street's estimates despite uncertainties prevailing in the sector. Global tech giants are expecting the problems of the IT sector to continue in the coming quarters. BUT, TCS, this company is expected to float above a challenging environment!
Apr 12, 2024, 10:37 am IST
Vodafone India Set To Raise Equity Capital With Public Offer Aggregating Upto ₹ 18,000 crore
The Capital Raising Committee of Vodafone India, at its meeting held today approved and recommended the following to the Independent Directors of the Company, which in turn have also approved the same in a separate meeting held, approving the Floor Price of the Offer to be ₹ 10/- per Equity Share; the Cap Price of the Offer to be ₹ 11/-; per Equity Share; and minimum bid lot of 1,298 Equity Shares and in the multiples of 1,298 Equity Shares thereafter. The company also notifies the purposes of allocation of Equity Shares to the successful Anchor
Investors under the Offer and for determination of the Anchor Investor Allocation Price.
Apr 12, 2024, 10:07 am IST
Uno Minda Acquires Land For Alloy Wheel Plant In Haryana; Stock Surges 2%
Uno Minda's stock witnessed a gain of over 2 percent during early trading on April 12 following the company's acquisition of a land parcel in Haryana for establishing an alloy wheel plant capable of producing 120,000 wheels per month.
With a planned capital outlay of Rs 542 crore, the plant, situated in IMT Kharkhoda, will be developed in stages over the course of five years, with Phase 1 expected to commence operations in the second quarter of FY26.
Uno Minda recently secured the allotment of a strategic land parcel spanning 94.32 acres at IMT Kharkhoda, Haryana HSIIDC, as part of its efforts to support current and future expansion initiatives, the company disclosed.
Apr 12, 2024, 9:33 am IST
Vodafone Idea Sets FPO Price Range At Rs 10 To Rs 11
Telecom giant Vodafone Idea Ltd. has announced the price band for its Follow-on Public Offer (FPO) to be between Rs 10 to Rs 11 per share, as stated in an exchange filing.
The FPO is scheduled to commence on April 18 and conclude on April 22. Vodafone Idea aims to raise up to Rs 18,000 crore through this offering. Investors can check the lot size and other relevant details for participation.
Apr 12, 2024, 9:24 am IST
Market Opens Lower, Nifty Below 22,700
Indian stock indices opened with a downward trend on April 12, with the Nifty slipping below the 22,700 mark. The Sensex witnessed a decline of 264.36 points or 0.35%, reaching 74,773.79, while the Nifty dropped by 79.50 points or 0.35%, touching 22,674.30. Market data indicated that 1151 shares advanced, 1125 shares declined, and 192 shares remained unchanged.
Apr 12, 2024, 9:17 am IST
Bharti Hexacom To Make Bourse Entry On April 12
Bharti Hexacom, a subsidiary of the telecom operator Bharti Airtel, is scheduled to make its debut on the stock exchanges on April 12. The final issue price has been set at Rs 570 per share. Market observers noted that the IPO shares of Bharti Hexacom traded at a premium of more than 15% over the issue price in the grey market, an unofficial platform.
Apr 12, 2024, 9:13 am IST
Pre-Opening Session Sees Stable Performance In Benchmark Indices
In the pre-opening session, the benchmark indices displayed resilience with the Sensex gaining 102.61 points or 0.14% to reach 75,140.76, while the Nifty rose by 5.70 points or 0.03% to 22,759.50.
Meanwhile, the Indian Rupee commenced trading at 83.35 per Dollar, marking a decrease of 16 Paise compared to Wednesday's closing rate of 83.19.
Apr 12, 2024, 8:58 am IST
ECB Maintains Record-High Interest Rates, Hints At Future Reduction
The European Central Bank (ECB) opted to keep interest rates unchanged on Thursday but indicated that decelerating inflation might prompt a shift towards looser monetary policy, fueling anticipation of a potential rate cut in June.
This decision marks the fifth consecutive occasion where the central bank has refrained from adjusting borrowing costs, maintaining the key deposit rate at a historic high of four percent.
Initially, the ECB had swiftly raised rates to combat surging inflation; however, with inflation moderating and elevated borrowing expenses impacting the eurozone, there has been mounting pressure for rate reductions.
In March, eurozone inflation slowed more than anticipated to 2.4 percent, a figure close to the ECB's targeted two-percent threshold. This backdrop sets the stage for potential monetary policy adjustments in the near future.
Apr 12, 2024, 8:58 am IST
Institutional Investment Trends: FII And DII Activity
According to provisional data from the NSE, foreign institutional investors (FIIs) acquired net shares valued at Rs 2,778.17 crore, whereas domestic institutional investors (DIIs) bought stocks worth Rs 163.36 crore on April 10.
Apr 12, 2024, 8:57 am IST
Vodafone Idea Announces Upcoming Rs 18,000 Crore FPO On April 18
Vodafone Idea Ltd. has revealed plans to initiate a Follow-on Public Offer (FPO) of equity shares amounting to up to Rs 18,000 crore, according to an early morning announcement on Friday.
The FPO by Vodafone Idea is scheduled to commence on April 18 and conclude on April 22. The company disclosed in an exchange filing that the anchor investor offers will be finalized on April 16.
Apr 12, 2024, 8:53 am IST
Gold Reaches Historic Peaks Amid Safe-Haven Appeal
Gold prices reached unprecedented levels on Friday, propelled by ongoing geopolitical tensions that have heightened demand for the precious metal. Despite robust economic data, bullion maintained its allure to investors seeking safe-haven assets.
Spot gold surged by 0.6% to ,386.38 per ounce, reaching a peak of ,389.29 earlier in the session. Meanwhile, US gold futures experienced a 1.3% increase, climbing to ,403.90 per ounce.
Apr 12, 2024, 8:52 am IST
Asian Markets Rise as Tech Sector Boosts US Stocks
Asian equities saw gains on Friday following a resurgence in US stocks driven by a rally in the world's largest technology firms.
Japanese stocks experienced an uptick, while Australian shares remained relatively unchanged and Hong Kong equity futures declined. Futures for US contracts remained steady after the S&P 500 recorded gains on Thursday, and the tech-heavy Nasdaq 100 surged over 1.5% higher.
Analysts anticipate that a robust economy will support an increase in profit growth for US companies, with strong margins from major tech companies serving as a significant catalyst for this upward trajectory. This positive outlook has contributed to a buoyant mood in global markets, with investors closely monitoring developments in the technology sector for further signals of market direction.
Apr 12, 2024, 8:31 am IST
Oil Prices Rebound Amid Israeli Concerns Over Potential Iran Attack
Oil prices bounced back as Israel prepared for the possibility of a strike by Iran or its allies, while traders awaited the release of an International Energy Agency report on supply and demand trends.
Brent futures surged above per barrel following a 0.8% decline in the previous session, while West Texas Intermediate edged closer to . Concerns intensified after reports emerged that the United States anticipates an imminent attack on Israel in retaliation for a strike on Iran's diplomatic compound in Syria last week.
According to The Wall Street Journal, Israel is reportedly bracing for an assault within the next two days, as cited by a source familiar with the situation. These escalating tensions have heightened uncertainty in the oil market, driving prices upward as geopolitical risks continue to dominate investor sentiment.
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