Trade Setup: Top 15 things to know before market opens on April 28, 2022

Indian stock indexes fell by approximately a per cent on Wednesday as a result of a worldwide sell-off sparked by fears about global economic growth. All sectors were down, with Power, Utilities, and Telecom stocks dragging the most. 

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The Nifty50 has formed a small negative candle on the daily chart with minor upper and lower shadows, suggesting indecision among market participants at lower levels, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

“The Nifty appears to be preparing for a big move. The overall chart pattern is weighing high on the downside,” he said.

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Indian Indices

Sensex fell 537.22 points or 0.94% to 56,819.39 and Nifty was down by 162.40 points or 0.94% to 17,038.40 in the previous session. Sensex touched a high and low of 57,079.03 and 56,584.04, respectively. There were 6 stocks advancing against 24 stocks declining on the index. Nifty traded in a range of 17,110.70 and 16,958.45. There were 10 stocks advancing against 39 stocks declining, and one stock remain unchanged on the index.

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Broader Indices

The broader indices ended in red with the BSE Midcap index falling 0.97%, while the Small cap index was down by 0.63%. The top losing sectoral indices on the BSE were Power down by 1.96%, Utilities down by 1.90%, Telecom down by 1.72%, Consumer Durables down by 1.35% and PSU down by 1.34%, while there were no gaining sectoral indices on the BSE.

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India VIX Index

Nifty or India VIX, a gauge of the market’s expectation of volatility over the near term, rose 7.39% to 20.60 on Wednesday.

SGX Nifty

The trends on SGX Nifty indicate a flat opening for the index in India with a 2-points gain. The Nifty futures were trading at 17,068.80 on the Singaporean Exchange around 06:40 hours IST.

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Support and Resistance levels

The key support level for the Nifty is placed at 16,961, followed by 16,884. If the index moves up, the key resistance levels to watch out for are 17,113 and 17,188, according to pivot charts.

US Markets

The S&P 500 rose 8.76 points, or 0.2%, to 4,183.96.

The Dow Jones Industrial Average rose 61.75 points, or 0.2%, to 33,301.93.

The Nasdaq fell 1.81 points, or less than 0.1%, to 12,488.93.

The Russell 2000 index of smaller companies fell 6.44 points, or 0.3%, to 1,884.04.

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Asian Markets

Asian markets finished mixed on Wednesday. The Shanghai Composite gained 2.49% and the Hang Seng rose 0.19%. The Nikkei 225 lost 1.17%.

European Markets

European markets finished higher yesterday with shares in London leading the region. The FTSE 100 was up 0.53% while France’s CAC 40 was up 0.48% and Germany’s DAX was up 0.27%.

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Major News Headlines

LIC IPO to open on May 4, issue price fixed at Rs 902-949

Life Insurance Corporation of India (LIC) is set to launch its initial public offering (IPO) from May 4 to May 9 to the general public. For the anchor investors, the issue will open on May 2, the state-run insurer confirmed on Wednesday at its press conference. The price band for the issue is Rs 902-949 per share, at a face value of Rs 10 each. For policyholders, 10% of the LIC IPO is reserved and they will get a discount of Rs 60 per share on the issue price. Retail investors and employees will be given a discount of Rs 45 per share. The employee reservation portion will be 5% of the post-offer equity share capital. LIC reported a profit after tax (PAT) of Rs 1,713.3 crore in the nine months of the financial year 2022. Its revenue stood at Rs 5.1 lakh crore. It has an investment of Rs 38.4 lakh crore towards policyholder’s funds and the company is debt-free as of December 31, 2021.

HUL Q4 Results: Profit rises 9% YoY to Rs 2,327 crore, declares Rs 19 dividend

FMCG giant Hindustan Unilever Ltd (HUL) reported a standalone net profit of Rs 2,327 crore for the quarter ended March 31, 2022, up by 8.6% from Rs 2,143 crore in the final quarter of the financial year 2021. Sequentially, the net profit has risen by 3.7% compared to the net profit of Rs 2,243 crore in the December 2021 quarter. The standalone March 2022 quarter revenue from operations stood at Rs 13,462 crore, a rise of 11% from Rs 12,132 crore reported in the final quarter of the previous financial year. Sequentially, the revenue from operations increased 2.8% from Rs 13,092 crore reported in the December 2021 quarter. The conglomerate’s consolidated net profit for the March 2022 quarter rose 5.34% to Rs 2,307 crore as compared to Rs 2,190 crore in the March quarter of fiscal 2021. The company’s board has recommended a final dividend of Rs 19 per share for the financial year 2021-22 on the face value of Rs 1 per share. Along with Rs 15 interim dividend paid in November, the total dividend for the financial year 2021-22 comes in at Rs 34 per share.

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Bajaj Auto Q4 results: Profit rises 10.3% to Rs 1,469 crore YoY, declares Rs 140 dividend

Bajaj Auto Limited (Bajaj) on April 27 declared a 10.3% increase in its standalone profit after tax (PAT) to Rs 1,469 crore as compared to a profit of Rs 1,332 crore reported in the same quarter a year ago. On a sequential basis, the growth in PAT is 21% from Rs 1,214 crore reported in the previous quarter. The revenues for the Pune-based automaker came in at Rs 7,975 crore, declining by 7.2% from the revenues of Rs 8,596 crore reported in the corresponding period last year. On a sequential basis, the revenues have tanked 11.6% from Rs 9,022 crore recorded in the October – December quarter of the current financial year. The full-year profit for the company has improved 10.2% to Rs 5,019 crore from Rs 4,555 crore achieved in FY21. Revenues for FY22 came in at Rs 33,145 crore, jumping by 19.5% from Rs 27,741 crore recorded in FY21. The company has recommended a dividend of Rs 140 per equity share (1400%) which is subject to the approval of shareholders.

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IFSCA releases new framework for fintech firms

International Financial Services Centres Authority (IFSCA) on April 27 issued a framework for fintech entities across the spectrum of banking, insurance, securities, and fund management. As per the framework, there will be a dedicated Regulatory Sandbox for fintech products or solutions. IFSCA has defined Regulatory Sandbox as a live environment with a limited set of real customers for a limited timeframe wherein entities operating in the capital market, banking, insurance and other financial services space in International Financial Services Centres (IFSC) shall be granted certain exemptions and relaxations from the applicability of certain regulatory provisions for experimenting fintech ideas and solutions. “The framework issued by IFSCA, a unified regulator for Banking, Capital Markets, Insurance and Funds Management in IFSC, would enable FinTech firms having innovative ideas or solutions across the banking, capital or insurance sector to have seamless interaction with a single regulator,” stated IFSC Authority in its release. Banking areas and activities linked to financial services regulated by IFSCA that will come under this regulatory framework will include remittance and payments, digital lending, buy now pay later, crowdlending, digital bank (neo banking and challenger bank) and open banking.

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Bulk Deal data

CARNEX VINIMAY PRIVATE LIMITED bought 8,58,408 shares in Asian Granito India Limited at Rs 67.71 per share on the NSE.  

PHAEACIAN ACCENT INTERNATIONAL VALUE FUND sold 1,54,790 shares in CARE Ratings Limited at Rs 477.57 per share on the NSE.

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INDUSIND BANK LTD CLIENT A/C sold 455,33,228 shares in Future Consumer Limited at Rs 3.02 per share on the NSE.

ALPHA LEON ENTERPRISES LLP bought 35,00,000 shares in Future Enterprises Limited at Rs 4.90 per share on the NSE.   

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VEENA RAJESH SHAH sold 1,00,000 shares in GSS Infotech Limited at Rs 150.15 per share on the NSE.

RAJAN GUPTA sold 1,59,000 shares in Jeena Sikho Lifecare Limited at Rs 185.95 per share on the NSE.

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RAMA KRISHNA VARMA PENMETSA bought 31,00,000 shares in KBC Global Limited at Rs 8.85 per share on the NSE.   

TALISMAN SECURITIES PRIVATE LIMITED bought 2,34,000 shares in Empyrean Cashews Limited at Rs 110.41 per share on the NSE.

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OM TRADING bought 1,50,071 shares in Reliance Indl Infra Limited at Rs 1074.70 per share on the NSE.

RAM LAL KANWARLAL JAIN bought 10,25,000 shares in Simbhaoli Sugars Limited at Rs 38.69 per share on the NSE.

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DII and FII data

Foreign institutional investors (FIIs) sold shares worth a net Rs 4,064.54 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 1,917.51 crore in the Indian equity market on April 27, as per provisional data available on the NSE.

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NSE F&O Ban

No stock/security has been put under the F&O ban for April 28. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.