Sensex Today Live: Indian shares fell for a second straight day on Monday over prospects of aggressive rate hikes by the U.S. Federal Reserve and sky-high inflation, while Future Group companies tumbled after Reliance Industries called off a deal to buy its retail assets. The NSE Nifty 50 index fell 1.27% to 16,953.95, while the S&P BSE Sensex slid 1.08% to 56,579.89. India’s benchmark indexes have lost more than 2% so far in April, hurt by weak earnings from top technology firms, fears over the fallout of the Ukraine crisis, surging inflation and strong policy tightening signals from the Fed.
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US stocks open lower on global slowdown fears; Twitter jumps 4% on Musk’s final offer buzz
Wall Street’s main indexes opened lower on Monday as fears over China’s COVID-19 outbreaks spooked investors already concerned about aggressive U.S. interest rate hikes.The Dow Jones Industrial Average fell 79.75 points, or 0.24%, at the open to 33,731.65.Twitter shares jumped around 4% to $50.64 after reports that the company is poised to agree a sale to Elon Musk for around $43 billion in cash, the price the chief executive of Tesla Inc has called his “best and final” offer for the social media company.The S&P 500 opened lower by 16.44 points, or 0.38%, at 4,255.34, while the Nasdaq Composite dropped 90.12 points, or 0.70%, to 12,749.17 at the opening bell.
Tech View:
NSE Nifty formed a bearish candle on daily charts on Monday closing below the psychological level of 17,000. Technical setup suggests the index may travel to as low as 16,600 in near term.The index opened gap down at 17,009.05 in the morning and hit the day’s low of 16,888.70, declining below the major support at 16,900. During the day, some buying led the index to as high as 17,054.30, but it eventually crashed 1.27 per cent or 218 points to 16,953.95.
JUST IN: Veranda Learning board approves acquisition of T.I.M.E (Advanced Educational Activities Pvt Ltd)
Price as on 25 Apr, 2022 05:06 PM, Click on company names for their live prices.
Bitcoin falls to six-week low as risk-off mood gathers momentum
Bitcoin extended this month’s losses in Monday trade as investors shied away from risk assets amid a more hawkish outlook for Federal Reserve policy tightening. The largest cryptocurrency slid as much as 3.3% to $38,223, the lowest since March 15, and down more than 20% from last month’s high. The second-biggest coin, Ether, slumped as much as 4.8% to $2,799, a level not seen since March 18.
How to navigate this market?
Ajit Mishra, VP – Research, Religare Broking
After touching a 3-year level of 7.28%, India’s 10-year bond yield has cooled off to near 7% levels. The monetary policy stance by global central banks has changed, so RBI’s policy stance can’t be on a different page. The fall in the yields could also be due to RBI buying or infusion of liquidity into the system. We are still expecting the G-Secs to touch 7.35% first and if it does not sustain that level it could rise to as high as 7.60 levels.
– Vishal Amarnani, Head -Fixed Income, Emkay Wealth Management
Global markets were painted red due to below-par earnings results, adding fresh concerns to elevated inflation, oil prices, war uncertainties and supply issue. Fear of waning demand due to prolonged covid lockdown in China led to oil prices tumbling. Continued FII selling in India along with other global uncertainties is favouring bear trend in the short-term.
– Vinod Nair, Head of Research at Geojit Financial Services
Campus Activewear IPO: Should you subscribe?
Most analysts have a cautiously optimistic view on Campus Activewear’s Rs 1,400 crore initial public offer (IPO) which will open for subscription on April 26. Their main concern is the high valuation that the company is seeking. The issue is entirely an offer-for-sale (OFS) from the promoters and existing shareholders of the company. They will offload 4,79,50,000 shares during the OFS. The price band for the issue is set at Rs 278-292 per equity share.
Market moves at a glance
#MarketsWithETNOW | #Nifty declines over 200 points to close below 17000, over 80% stocks decline. Check out how be… https://t.co/q7ciZGtaeo
— ET NOW (@ETNOWlive) 1650881294000
Advance-decline ratio at nearly 1:2
Barring Nifty Bank, Private Bank, all sectors end in the red on NSE
Closing Bell: Selloff extends to Day 2 as Sensex tumbles 617 pts; Nifty ends below 17,000; RIL, Tata Steel shed up to 4%
Indian equity benchmarks opened in red following weak trade in Asian market peers as global sell-off triggered by aggressive US Fed tightening and China covid fears. During the afternoon session markets failed to erase losses and traded at days low as sentiments were fragile as India’s crude oil import bill nearly doubled to $119 billion in the fiscal year that ended on March 31, as energy prices soared globally following the return of demand and war in Ukraine. Additional pressure came in as private report cut India’s 2022-23 economic growth forecast by 70 basis points to 7 percent, citing slowing global growth due to high commodity prices, and weak local demand because of energy price hikes, inflationary pressures and a struggling labour market.
– Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers
State-owned BHEL on Monday said it has received an order from NTPC for six electric locomotives to be used for the first time in the country for industrial application. The locomotives will be manufactured at the company’s facility in Jhansi, Uttar Pradesh.
Price as on 25 Apr, 2022 03:07 PM, Click on company names for their live prices.
These stocks defy market mood, rise up to 8%
Price as on 25 Apr, 2022 02:50 PM, Click on company names for their live prices.
Sensex today live: Index trades near day’s low, down over 700 points
Gautam Adani pips Warren Buffett to become world’s 5th richest as stocks rally up to 235%
Billionaire Industrialist Gautam Adani has edged past veteran investor Warren Buffett to become the world’s fifth-richest person, according to data by Forbes. The sharp run-up in Adani Group stocks has led him to this feat. According to Forbes’ Real-Time Billionaires List, Adani’s wealth stood at $123.7 billion as of Friday’s close, racing past Buffett’s $121.7 billion.
Q4 EARNINGS: CENTURY TEXTILE
- Cons PAT Rs 84 crore vs loss of Rs 5 crore YoY
- Cons sales: Rs 1188 crore vs Rs 820 crore YoY
- Company announces dividend of Rs 4 per share
- Stock wiped off losses to trade 1% higher on BSE
Sensex today live: RIL, Infosys, TCS among top index drags at this hour
Europe stocks sink in global selloff
- European stocks sank Monday after heavy losses elsewhere, as fears over rising US interest rates and China’s Covid outbreak overshadowed news of the re-election of French President Emmanuel Macron.
- In early deals, the Paris CAC 40 index lost 1.2 percent to 6,505.60 points and Frankfurt’s DAX dropped 0.9 percent to 14,014.90, trimming initial falls.
- Outside the eurozone, London’s FTSE 100 shed 1.5 percent to 7,409.08 compared with the closing level on Friday.
Edible oil industry suggests govt initiate dialogue with Indonesia over palm oil ban
Indonesia, which is the world’s largest producer of palm oil and meets nearly 50 per cent of the total palm oil requirement in India annually, had announced to ban exports till further notice apparently to contain edible oil prices in their domestic market.
Sebi rejigs market data advisory panel
Sebi has restructured its advisory committee on market data that recommends policy measures pertaining to areas like securities market data access and privacy. Rejigging its market data advisory committee, Sebi has said the panel will now have 21 members, as per the latest information with the regulator.
Market live updates: IT company Cyient will acquire global plant and product engineering services company Citec for about Rs 800 crore to strengthen its business offerings. The stock traded over 2% lower.
Price as on 25 Apr, 2022 12:13 PM, Click on company names for their live prices.
SECTOR WATCH: Nifty Bank index trades in the green even as market bleeds
Gains in ICICI, Bandhan and Axis Bank offset losses in other constituents. Apart from Nifty Bank, Nifty Private Bank index was other index trading in the green.
Sri Lanka stock trading closed for the day as key index slumps
Stocks in Sri Lanka plunged, triggering a trading halt for the rest of the day, shortly after the market opened for the first time in two weeks. Sri Lanka’s blue-chip index sank 12.6%, exceeding the 10% drop that would result in an all-day suspension. Benchmark Colombo All-Share Index fell as much as 6.7% as investors worry about the nation’s economic crisis. (Source: Bloomberg)
Market live updates: Top 10 losers in the FMCG space
Price as on 25 Apr, 2022 11:18 AM, Click on company names for their live prices.
BSE TELECOM index tanks over 2%, worst sectoral loser
SBI Card partners with TCS to reimagine customer onboarding experience
Price as on 25 Apr, 2022 11:08 AM, Click on company names for their live prices.
Glenmark Pharmaceuticals on Monday said it has launched a novel fixed-dose combination (FDC) of Teneligliptin, with Pioglitazone in India for adults with uncontrolled Type 2 diabetes. Glenmark has launched this FDC under the brand name Zita Plus Pio, which contains Teneligliptin (20 mg) and Pioglitazone (15 mg), to be taken once a day, the company said…
Read More:Sensex Live: Stock Market Highlights Today: Nifty could slide to as low as 16,600 as trade setup remains bearish
2022-04-25 14:08:00
