Market Today
The benchmark Sensex and Nifty indices are likely to open on a negative note on April 16 as trends in the GIFT Nifty indicate a lower start for the broader index with a gain of 168.50 points.
The Indian equity indices extended losses for the second straight session on April 15 on wide-spread selling, as Israel-Iran crisis weighed on the risk appetite of investors who will also be tracking the March quarter results at home.
At close, the Sensex was down 845.12 points, or 1.14 percent, at 73,399.78, and the Nifty was down 246.90 points, or 1.10 percent, at 22,272.50.
The pivot point calculator indicates that the Nifty 50 may fnd immediate support at the 22,256 level, followed by 22,216 and 22,152 levels. On the higher side, the index may face resistance at the 22,288 level, followed by the 22,424 and 22,488 levels.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms, which could impact Indian as well as international markets.
GIFT Nifty
Trends in the GIFT Nifty indicate a negative start for the broader index in India, with a loss of 168.50 points or 0.75 percent. The Nifty futures were trading around the 22 , 184level.
Trade setup for today: Top 15 things to know before the opening bell
US Markets
US stocks closed sharply lower on Monday, as an early lift from a strong retail sales report succumbed to a jump in Treasury yields and concerns about rising geopolitical tensions between Iran and Israel.
The Dow Jones Industrial Average fell 248.13 points, or 0.65 percent, to 37,735.11, the S&P 500 lost 61.59 points, or 1.20 percent, to 5,061.82 and the Nasdaq Composite lost 290.07 points, or 1.79 percent, to 15,885.02.
Asian Markets
Asian markets extended their declines as the world awaits Israel’s response to Iran’s air assault over the weekend.
On Tuesday, China’s first-quarter gross domestic product numbers will be in focus, with the world’s second-largest economy expected to grow 4.6 percent from a year ago.
China’s industrial production and retail sales figures are also expected Tuesday.
Life Insurance Corporation hikes stake in Hindustan Unilever
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 percent to 5.01 percent of the paidup capital of the said Company,” the filing said.
Cipla to buy Ivia Beaute’s cosmetics and personal care business for Rs 130 crore
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.
US retail sales up more than expected in March
Retail sales in the United States grew more than anticipated last month, government data showed on Monday, defying predictions of weaker consumer demand.
US retail sales picked up by 0.7 percent in March to $709.6 billion, after February’s increase was revised to 0.9 percent, said the Commerce Department.
From a year ago, the March figure was 4.0 percent higher.
Dollar
The dollar stood just off its highest since early November against a handful of peer currencies on Tuesday, raising intervention worries as the yen languished at its lowest level since 1990 following hotter-than-expected U.S. retail sales.
The U.S. dollar index touched 106.27, the highest since Nov. 2, after the data. It last hovered around 106.23.
The Japanese yen languished under the dollar’s continued strength and large interest rate differential between the two countries, breaching 154 to hit a fresh 34-year low against the dollar on Monday.
Gold Prices
Gold prices slipped on Monday as the dollar and Treasury yields gained following a higher-than-expected uptick in U.S. retail sales in March, feeding apprehensions that the Federal Reserve could delay cutting interest rates this year.
Crude
Oil prices rose on Tuesday amid heightened tensions in the Middle East after Israel’s military chief said his country would respond to Iran’s weekend missile and drone attack amid calls for restraint by allies.
Brent futures for June delivery rose 46 cents, or 0.5%, to $90.56 a barrel by 0005 GMT. U.S. crude futures for May delivery rose 43 cents, or 0.5%, to $85.84 a barrel.
FII and DII data
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.
Stock under F&O ban on NSE
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.
With inputs from Reuters and other agencies
