Stock Market LIVE Updates: GIFT Nifty indicates a weak start; US, Asian markets fall

Indian rupee opened at record low at 83.51 per dollar versus previous close of 83.45.

Benchmark indices are trading weak in the pre-opening session.

The Sensex was down 340 points or 0.46 percent at 73,059.78, and the Nifty was down 119.80 points or 0.54 percent at 22,152.70.

The NSE has added Bandhan Bank, Exide Industries, and Zee Entertainment Enterprises to the F&O ban list for April 16, while retaining Balrampur Chini Mills, GNFC, Hindustan Copper, India Cements, Metropolis Healthcare, National Aluminium Company, Piramal Enterprises, and SAIL to the said list. Vodafone Idea was removed from the said list.

Domestic airlines carried 133.68 lakh passengers in March, an increase of nearly 3.7 per cent on an annual basis, according to official data released on Monday.

In March 2023, domestic air traffic stood at 128.93 lakh and the count stood at 126.48 lakh in February this year.

In terms of On Time Performance (OTP), Akasa Air topped the list at 84.5 per cent, followed by AIX Connect (83 per cent), IndiGo (81.3 per cent), Vistara (76.6 per cent), Air India (71.9 per cent) and SpiceJet (63.6 per cent). Read More

Foreign institutional investors (FIIs) net sold shares worth Rs 3,268 crore, while domestic institutional investors (DIIs) purchased Rs 4,762.93 crore worth of stocks on April 15, provisional data from the NSE showed.

The initial public offering of Maharashtra-based JNK India Ltd will open for subscription on April 23 and close on 25th.

Anchor investors will be open to place their bids on April 22. Basis of allotment will be on April 26, refunds and credit of equity shares will be on April 29 and the firm will list on exchanges on April 30.

The IPO consists of a fresh issue of Rs 300 crore and an offer-for-sale of up to 8.42 million by its existing shareholders and promoters. The OFS comprises up to 1.12 million shares by Goutam Rampelli, up to 2.43 million by JNK Global, up to 4.4 million by Mascot Capital and Marketing and up to 4.68 lakh shares by Milind Joshi. Read More

Q1 GDP grows 5.3% YoY

China March industrial output rises 4.5% YoY

March retail sales rise 3.1% YoY

Cipla announced on April 15 that its wholly owned subsidiary and consumer healthcare arm of the company Cipla Health Limited (CHL) has signed a business transfer agreement for the purchase of the distribution and marketing business undertaking of cosmetics and personal care business of Ivia Beaute Private Limited including Ivia’s brands namely Astaberry, Ikin and Bhimsaini on a worldwide basis. The cost of acquisition will be Rs 130 crore on the closing date.

In a regulatory filing, Cipla said the transaction is expected to be completed within 60 days from the signing of the business transfer agreement or such other date mutually agreed between the parties in writing and shall be subject to successful completion/waiver of the conditions precedent and closing conditions as mentioned in such business transfer agreement.

Life Insurance Corporation of India (LIC) has increased its stake in FMCG major Hindustan Unilever, according to an exchange filed by the largest life insurance company of the country on April 15.

The stake was increased from 4.99 percent to 5.01 percent, according to the filing.

“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Life Insurance Corporation of India (“the Corporation”) has increased its shareholding in “Hindustan Unilever Limited” from 11,74,63,555 to 11,77,18,555 Equity Shares, i.e., 4.99% to 5.01% of the paidup capital of the said Company,” the filing said. Read More

The worsening situation in the Middle-East with conflict between Iran and Israel flaring up had engulfed Dalal Street. Investors worldwide, including in India, have turned cautious and resorted to profit-taking. If the situation turns bad, we may see extended broad-based selling in local markets. Geo political tensions and uncertainty over interest rate cut could have a bearing on the markets.