Market Today
The benchmark Sensex and Nifty indices are likely to open on a flat-to-positive note on April 30 as trends in the GIFT Nifty indicate a muted start for the broader index with a gain of 15 points.
The market bounced back sharply as it erased all the losses from the previous session, with the Nifty closing above 22,600 amid buying across the sectors, barring realty.
At close, the Sensex was up 941.12 points or 1.28 percent at 74,671.28, and the Nifty was up 223.45 points or 1 percent at 22,643.40.
The pivot point calculator indicates that the Nifty 50 is expected to face resistance at the 22,662 level, followed by 22,713 and 22,794 points. On the lower side, the index may take immediate support at the 22,499 level, followed by 22,448 and 22,366 points.
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 flat start for the broader index in India, with a gain of 15 points or 0.07 percent. The Nifty futures were trading around the 22,780 level.
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US Markets
US stocks gained ground on Monday and the yen surged amid suspected intervention as investors embarked on what promises to be an action-packed week.
The Dow Jones Industrial Average rose 147.4 points, or 0.39 percent, to 38,387.06, the S&P 500 gained 16.19 points, or 0.32 percent, to 5,116.15 and the Nasdaq Composite added 55.18 points, or 0.35 percent, to 15,983.08.
Asian Markets
Asian markets were largely set to extend gains on Tuesday, tracking Wall Street moves, with investors awaiting China manufacturing purchasing managers’ index for April.
Shareholders approach NCLT on I-Sec delisting; company notifies exchanges
ICICI Securities confirmed that it has received an email from NCLT informing that certain shareholders of the Company have filed an application before the NCLT (New Delhi) regarding delisting of equity shares.
“The e-mail also mentions that the matter shall be listed before the bench subject to scrutiny/defect free. The requisite representation will be made by the company in relation to the application,” said ICICI Securities in an exchange filing dated April 28.
National Stock Exchange to sell digital tech unit to Investcorp for $120 million
Bahrain-based Investcorp will buy the digital technology services business of India’s National Stock Exchange (NSE) for $120 million, the alternative investment firm said on Monday, in its biggest deal in the country.
NSEIT Ltd, the digital technology arm of India’s largest stock market operator, offers services in areas including cybersecurity, digital transformation and cloud services in India, North America and the Middle East.
The 10-billion-rupees deal was in line with NSE’s strategy to focus on its core business areas, said Ashish Kumar Chauhan, the company’s managing director and CEO.
The deal excludes NSEIT’s digital examination business, which offers online recruitment and promotion tests as well as digital upskilling services for corporates.
Yen jumps against dollar
Japan’s currency surged as much as 5 yen against the dollar from a fresh 34-year low hit earlier on Monday, with traders citing yen-buying intervention by Japanese authorities for the first time in 18 months.
Gold Prices
Gold prices eased on Monday on prospects of higher-for-longer US interest rates as focus turns to the Federal Reserve policy meeting and U.S. non-farm payrolls data due this week for cues on the rate trajectory.
Spot gold was down 0.2 percent to $2,333.29 per ounce. US gold futures were down 0.1 percent at $2,344.60.
Crude
Oil prices fell by more than $1 a barrel on Monday as Israel-Hamas ceasefire talks in Cairo tempered fears of a wider Middle East conflict, while US inflation data dimmed the prospect of imminent interest rate cuts.
Brent crude futures for June, which expire on Tuesday, were down by $1.25, or 1.4 percent, to $88.25 a barrel. The more active July contract fell $1.01, or 1.14 percent, to $87.20 a barrel.
The US West Texas Intermediate (WTI) futures were down $1.19, or 1.4 percent, at $82.66 a barrel.
FII and DII data
Foreign institutional investors (FIIs) net bought Rs 169.09 crore shares, while domestic institutional investors (DIIs) pumped in Rs 692.05 crore on April 29, provisional data from the NSE showed.
Stocks under F&O ban on NSE
The NSE has added Biocon to the F&O ban list for April 30, while retaining Vodafone Idea to the said list.
With inputs from Reuters and other agencies
