In a negative trend in Asian markets, Indian equity indexes extended their losing streak to a fourth straight session on Monday, driven down by heavyweights Infosys and HDFC twins.
Also Read| Russia-Ukraine crisis: Over 200,000 people may lose jobs in Moscow after West’s exodus
Markets started the day on a sour note and remained so throughout the day, as traders remained cautious after the World Bank lowered its economic growth forecast for India and the rest of the South Asian region, citing worsening supply bottlenecks and rising inflation risks resulting from the Ukraine crisis.
Also Read| ‘The Mandalorian’ actor Rio Hackford dies at 51 after illness
The Nifty50 has formed a small negative candle on the daily chart with a long lower shadow following a gap-down opening, suggesting a bullish hammer type pattern, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
Also Read| Russia has damaged 30% of Ukraine’s infrastructure worth $100 billion: Kyiv
“This candle pattern brings hopes for the bulls to make a comeback from the lows. A sustainable up move above 17,240 could confirm a reversal pattern,” he said.
Sensex fell 1172.19 points or 2.01% to 57,166.74 and Nifty was down by 302.00 points or 1.73% to 17,173.65 in the previous session. Sensex touched a high and low of 57,420.80 and 56,842.39, respectively. There were 10 stocks advancing against 20 stocks declining on the index. Nifty traded in a range of 17,237.75 and 17,067.85. There were 24 stocks advancing against 26 stocks declining on the index.
Also Read| Ukrainian runners show national pride at Boston Marathon
Broader Indices
The broader indices ended in red with the BSE Midcap index falling 0.95%, while the Small cap index was down by 1.01%. The top gaining sectoral indices on the BSE were Power up by 1.97%, Utilities up by 1.91%, FMCG up by 0.65%, Auto up by 0.39%, Metal up by 0.29% while, Finance down by 2.12%, IT down by 4.76%, TECK down by 4.60%, Telecom down by 1.77% and Bankex down by 1.68% were the top losing indices on BSE.
Also Read| Russia learned from failures in North: US official as Moscow shifts target
India VIX Index
Nifty or India VIX, a gauge of the market’s expectation of volatility over the near term, rose 8.72% to 19.34 on Monday.
SGX Nifty
The trends on SGX Nifty indicate a positive opening for the index in India with a 28-points gain. The Nifty futures were trading at 17,243.50 on the Singaporean Exchange around 06:36 hours IST.
Support and Resistance levels
The key support level for the Nifty is placed at 17,082, followed by 16,990. If the index moves up, the key resistance levels to watch out for are 17,252 and 17,330, according to pivot charts.
Also Read| Why controlling Mariupol and Azov Sea is key to Russia’s Ukraine invasion?
The S&P 500 fell 0.90 points, or 0.02%, to 4,391.69.
The Dow Jones Industrial Average fell 39.54 points, or 0.1%, to 34,411.69.
The Nasdaq fell 18.72 points, or 0.1%, to 13,332.36.
The Russell 2000 index of smaller companies fell 14.85 points, or 0.7%, to 1,990.13.
Asian Markets
Asian markets finished mixed on Monday. The Hang Seng gained 0.67%, while the Nikkei 225 led the Shanghai Composite lower. They fell 1.08% and 0.49% respectively.
European Markets
European markets finished higher on Thursday with shares in France leading the region. The CAC 40 was up 0.72% while Germany’s DAX was up 0.62% and London’s FTSE 100 was up 0.47%.
Also Read| White House hosts over 30,000 people for first Easter egg roll in two years
Major News Headlines
TVS Motor acquires stake in Rapido, Jwalamukhi sells 32.6 lakh shares of TVS
Jwalamukhi Investment on Monday sold its stake in TVS Motor company for Rs 212 crore through an open market transaction. According to bulk deal data on the National Stock Exchange (NSE), Jwalamukhi Investment sold a total of 32,62,840 shares of TVS Motor. The scrips were divested at an average price of Rs 650, valuing the transaction at Rs 212.08 crore. Meanwhile, TVS Motor Company said that it has acquired a 1.81% stake in Roppen Transportation Services (Rapido). The company’s stake in Rapido will constitute less than 5% of the shares or voting rights in Rapido. The announcement was made on April 15, 2022.
Wipro appoints former KPMG executive Satya Easwaran as India chief
IT giant Wipro India Ltd, on April 18, appointed Satya Easwaran as the Country Head for India. Easwaran will be looking into strengthening Wipro’s business in India across key industry sectors through strategic consulting, transformation, and modernisation engagements. The company said in a regulatory filing that Easwaran will help clients leverage Wipro’s capabilities and investments in cloud, digital, engineering R&D, data/analytics and cybersecurity to succeed in their business and digital transformation initiatives. Easwaran has global work experience in driving end-to-end business transformation programmes for leading enterprises in various sectors. Before joining Wipro, he was the Head of Business Consulting and the Telecom, Media & Technology (TMT) Sector Leader at KPMG India, reported PTI.
Mindtree Q4 results: Net profit rises 49% YoY, firms declares Rs27 dividend
IT services company Mindtree Ltd on Monday reported 49% year-on-year growth in March quarter net profit at Rs 473 crore as compared to Rs 317 crore in the corresponding quarter previous year. Consolidated revenue from operations rose 37.4% to Rs 2,897 crore as compared to Rs 2,109 crore in the last year period. For fiscal 2021-22, the consolidated net profit of Mindtree rose by 48.8% to Rs 1,652.9 crore from Rs 1,110.5 crore in the financial year 2021-22. On Monday, Mindtree shares closed 3.27% lower at Rs 3,965 per share on National Stock Exchange (NSE).
India’s sugar exports touch $4.6 billion in 2021-22, grows 291% since 2012-14
India’s sugar exports increased by a whopping 291% to $4.6 billion (around Rs 35,000 crore) in the financial year 2021-22 from $1.17 billion (about Rs 9,000 crore) in 2013-14, the Ministry of Commerce informed on Monday. India exported sugar to 121 countries across the globe, it added. According to Directorate General of Commercial Intelligence and Statistics (DGCI&S) data, Sugar exports jumped 65% in 2021-22 corresponding to the previous year. The growth was achieved despite logistical challenges posed by the Covid-19 pandemic in the form of high freight rates, container shortages etc said the commerce ministry. India had exported sugar worth $1.96 billion in 2019-20 and $2.79 billion in 2020-2021. The key markets for the exports included Indonesia, Bangladesh, Sudan and the UAE.
Also Read| Federal judge declares US mask mandate for airlines ‘unlawful’
JWALAMUKHI INVESTMENT HOLDINGS sold 32,62,840 shares in TVS Motor Company Limited at Rs 650.00 per share on the NSE.
TEJESH HASMUKH SHAH sold 1,82,000 shares in Archies Limited at Rs 19.04 per share on the NSE.
PRITA BRIJESH PAREKH bought 1,40,000 shares in Bang Overseas Limited at Rs 56.24 per share on the NSE.
Also Read| EU fraud agency investigating French far-right candidate Marine Le Pen
SHRRADHA PUNIT BANSAL bought 88,481 shares in Crown Lifters Ltd at Rs 34.99 per share on the NSE.
JRL MARKETING PVT LTD bought 3,99,362 shares in Future Mkt Networks Ltd at Rs 8.25 per share on the NSE.
SOCIETE GENERALE sold 2,25,000 shares in Hariom Pipe Industries Limited at Rs 242.55 per share on the NSE.
Also Read| US makes good on threat, won’t attend G20 sessions if Russia is present
BEELINE BROKING LIMITED sold 1,67,200 shares in Milton Industries Limited at Rs 16.17 per share on the NSE.
YUGA STOCKS AND COMMODITIES PRIVATE LIMITED bought 1,00,000 shares in Pearl Polymers Limited at Rs 27.74 per share on the NSE.
AVANI IMPEX PRIVATE LIMITED sold 13,44,068 shares in Prakash Steelage Limited at Rs 5.92 per share on the NSE.
Also Read| IPL 2022: Rajasthan Royals beat Kolkata Knight Riders by 7 runs
RIDDHI SIDDHI GLUCO BIOLS LIMITED bought 1,50,000 shares in Ritco Logistics Limited at Rs 128.65 per share on the NSE.
SEEMA AGGARWAL sold 45,00,000 shares in Supreme Engineering Limited at Rs 3.20 per share on the NSE.
KREDENCE MULTI TRADING LTD sold 8,75,000 shares in Uttam Galva Steels Limited at Rs 4.70 per share on the NSE.
VEENA RAJESH SHAH sold 90,610 shares in Vaishali Pharma Limited at Rs 94.33 per share on the NSE.
Also Read| Who is Lt Gen Manoj Pande?
Foreign institutional investors (FIIs) sold shares worth a net Rs 6,387.45 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 3,341.96 crore in the Indian equity market on April 18, as per provisional data available on the NSE.
Also Read| Vladimir Putin honours Russian army brigade accused of Bucha massacre
Tata Power is under the F&O ban for April 19. 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.
