Sensex Today Live Updates : Sensex down 300pts, Nifty at 22,200; O&G, Auto, FMCG, Consumer, gain, IT, Bank, FS down

Sensex Today Live : Container Corporation of India announced an annual growth of over 8% in the total physical volume it handled in FY24 in its provisional updates for the quarter and financial year ending March 31, 2024, released on Monday. It showed CONCOR handled 12,44,798 twenty-feet equivalent units (TEUs) in Q4FY24, a 11.24% QoQ increase. The total throughput for the preceding quarter was 11,19,034 TEUs. For FY24, the company’s total throughput was 47,19,984 TEUs, marking an 8.23% rise from 43,61,131 TEUs in FY23. The EXIM volumes for the March 2024 quarter grew by 7.08% YoY to 36,48,076 TEUs, compared to 34,06,864 TEUs in the same quarter of the previous year. The total EXIM volumes for FY24 were 9,34,058 TEUs, showing a YoY increase of 9.73% from 8,51,261 TEUs in FY23.

Sensex Today Live : Caplin Point Laboratories today informed the exchanges today that its subsidiary Caplin Steriles has been granted the final approval from the United States Food and Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA) Ofloxacin ophthalmic solution USP 0.3% (eye drops), a generic therapeutic equivalent version of (RLD), OCUFLOX Ophthalmic Solution of Allergan Inc.

The company, in an exchange filing, said, Ofloxacin ophthalmic solution USP 0.3% is indicated for treatment of eye infections caused during the conditions of conjunctivitis and corneal ulcers. According to IQVIATM (IMS Health), Ofloxacin Ophthalmic Solution USP 0.3% had US sales of approximately $52 million for the 12- month period ending December 2023.

Sensex Today Live : Steel Stripes Wheels informed the exchanges today that it has secured a suplly agreement with a leading passenger vehicle manufacturer in India. In an exchange filing, the company said, “We are glad to announce that we have successfully secured a maiden entry as a supplier of testament wheels to one of the top Passenger Car manufacturers in India… We’re honored to be recognized by the OEM as a strategic partner for supply of wheels besides Steel Wheels”.

Sensex Today Live : Indian benchmark indices were in the red on Tuesday, following weak signals from global markets that were bogged down by simmering tensions in the Middle East.

At 11 am, Sensex was down 348.19 points, or 0.47%, at 73,051.59, and Nifty was down 74.05 points, or 0.33%, at 22,198.45.

Sensex Today Live : PNC Infratech informed the exchanges today it has received ₹117.15 crore from the National Highways Authority of India, as its subsidiary, PNC Raebareli Highways has executed a settlement agreement with the authority under the ‘Vivad Se Vishwas II (Contractual Disputes)’ Scheme of Government of India.

The company, in an exchange filing, said, “PNC Infratech Limited regarding (Company) is pleased to intimate about receipt of Rs. 114,81,18,484.00 being the net amount after deduction of tax at source (TDS) in terms of tlre Settlement Agreement executed on 02.04.2024 between National Highways Authority of India (NHAl/Procuring Entity) and PNC Raebareli Highways Private Lirnited, a subsidiary of the Comparry for an amount of Rs. 117,15,49,474.00 towards the ‘one time settlement’ under the ‘Vivad Se Vishwas lI (Contractual Disputes)’ Scherne of Governrnent of India, on 15 April, 2024 in the night.”

Sensex Today Live : STL today announced that it has raised ₹1,000 crore through a Qualified Institutional Placement (QIP) that saw healthy participation by various global and Indian investors.

The company, in an exchange filing, said its board has approved the issue and allotment of 8.84 crore equity shares to qualified institutional investors, including HDFC Mutual Fund, Nippon Life India, Goldman Sachs and Bandhan Mutual Fund, aggregating to ₹1,000 crore.

It added that post the allotment, the paid-up equity share capital of the company has increased to ₹97.5 crore, comprising 48.75 crore equity shares.

Sensex Today Live : Som Distilleries and Breweries today informed the exchanges that it has commissioned a state-of-the-art wraparound packaging equipment at its Bhopal facility. The company said it expects its operational efficiency to improve by around 25%, with the latest addition. 

In an exchange filing, the company said, “We proudly announce the successful commissioning of state-of-the-art wraparound packaging equipment at our Bhopal canning facility… With this innovative technology in place, we anticipate an increase in operational efficiency by approximately 25%.”

The company said the equipment is designed to seamlessly integrate into existing production lines, and it offers precise wrapping and sealing of products, which minimises downtime and maximises throughput.

Sensex Today Live : Tata Consultancy Services: TCS plans to recruit approximately 40,000 fresh graduates in the fiscal year 2025, matching the number hired the previous year, said CEO and MD K Krithivasan. This announcement comes amidst a period of declining headcount for the company, with three consecutive quarters of reduction. He added that the hiring of fresh graduates in FY25 would be on par with the previous year. As for the recruitment of experienced professionals, decisions will be made quarterly based on immediate needs and requirements, according to Krithivasan.

Sensex Today Live : Indian benchmark indices opened in the red on Tuesday, following weak signals from global markets that were bogged down by simmering tensions in the Middle East.

At 10 am, Sensex was down 305.71 points, or 0.42%, at 73,094.07, and Nifty was down 70.65 points, or 0.32%, at 22,201.85.

Sensex Today Live : On April 15, Asian Paints launched a new product, Neo Bharat Latex Paint, marking its entry into a novel paint category. This move was spurred by the sector’s robust growth, fueled by increasing urbanization and rising disposable incomes, which has prompted existing market players to seize the burgeoning demand and increase their market share, the company said.

The company promotes this new segment as affordable, providing consumers with a choice of over 1,000 shades. In addition, the company has roped in cricket star Virat Kohli as the brand ambassador for the new launch. Amit Syngle, managing director and chief executive officer, Asian Paints, said, “By offering a branded solution to penetrate the unorganized segment, we aim to broaden the market and stimulate category growth as a market leader.”

Sensex Today Live : On April 15, Jio Financial Services announced its joint venture with US-based BlackRock to expand into wealth management and brokerage services in India. In a stock exchange filing, the financial institution announced a 50:50 joint venture dedicated to wealth management initiatives, which includes establishing a wealth management company and a subsequent brokerage firm in India.

Sensex Today Live : Some major benchmark heavyweight indices like Auto, FMCG, Consumer Durables and Oil & Gas were in the green, while others like Bank, Financial Services, IT, Pharma and Healthcare indices were in the red.

Sensex Today Live : The broader market was marginally better off than the benchmark indices, with the BSE MidCap index trading flat, while the BSE SmallCap index was up 0.42%. 

Sensex Today Live : Only eight of the 50 stocks on the Nifty 50 were in the green on Tuesday morning, led by Titan, Mahindra & Mahindra, Nestle India, Eicher Motors, and SBI Life, while LTIMindtree, NTPC, IndusInd Bank, Bajaj Finance, and Infosys, were the top drags. 

Sensex Today Live : Only six of the 30 stocks on the Sensex were in the green on Tuesday, led by Nestle India, Titan, Bharti Airtel, Tata Steel, Mahindra & Mahindra, and Maruti Suzuki India, while TCS, Infosys, Kotak Mahindra Bank, Bajaj Finance, and Axis Bank, were the top drags. 

Sensex Today Live : Indian benchmark indices opened in the red on Tuesday, following weak signals from global markets that were bogged down by simmering tensions in the Middle East.

At opening bell, Sensex was down 507.69 points, or 0.69%, at 72,892.09, and Nifty was down 145.25 points, or 0.65%, at 22,127.25.

Sensex Today Live : Indian benchmark indices were red at pre-open on Monday, following weak signals from global markets that bogged down by simmering tensions in the Middle East.

Sensex was down 507.64 points, or 0.69%, at 72,892.14, and Nifty was down 147.20 points, or 0.66%, at 22,125.30 during pre-open.

Sensex Today Live : On Monday, Japanese company Honda announced the start of construction for a spare parts warehouse facility in Doddaballapura, near Bengaluru, Karnataka. The new facility, under the management of Honda Cars India, will bolster the spare parts operations across all Honda businesses. This includes Honda Cars India, Honda Motorcycle & Scooter India, and Honda India Power Products, as per the company’s statement.

The facility, set to be operational by the first quarter of FY26, is expected to significantly expedite the availability of spare parts at Honda dealerships. “Our commitment to our customers is reflected in our efforts to ensure timely and quicker availability of spare parts for their Honda products,” said Takuya Tsumura, the President and CEO of Honda Cars India.

Sensex Today Live : The Indian stock market indices, Sensex and Nifty 50, are anticipated to commence trading on a lower note on Tuesday, influenced by weak global indicators.

The Gift Nifty trends also suggest a sluggish start for the Indian benchmark index. The Gift Nifty was observed trading around the 22,180 mark, nearly 185 points lower than the previous close of Nifty futures.

On Monday, both domestic equity indices closed over a percent lower for the second consecutive session, with the Nifty 50 dropping below the 22,300 mark. The Sensex plummeted by 845.12 points to close at 73,399.78, while the Nifty 50 ended 246.90 points, or 1.1%, lower at 22,272.50.

The Nifty 50 chart displayed a significant negative candle with a gap-down opening. “From a technical perspective, this pattern suggests a short-term top reversal, indicating potential further weakness in the near term. Despite the current weakness, the larger degree positive chart pattern of higher tops and bottoms remains intact on the weekly chart, aligning with the formation of a new higher bottom of the pattern. However, there is no confirmation of any higher bottom reversal at the lows yet,” stated Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. (Read the full story here.)

Sensex Today Live : The Indian equity market indices, Sensex and Nifty 50, are projected to continue their downward trend and open with losses on Tuesday. This is due to the weak cues from the global market, which are influenced by the escalating concerns over the conflict between Iran and Israel.

Asian markets have shown a downward trend, and US stocks closed significantly lower as a response from Israel is anticipated following Iran’s attack over the weekend.

Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, anticipates that the domestic markets will face near-term challenges due to increasing volatility. He added that with the commencement of the result season and promises made by various political parties, there might be continued sector and stock-specific movements. (Read the full story here.)

Sensex Today Live : Indian markets were headed for another day of downtrends as the tensions in the Middle East continued to affect sentiment across markets around the globe.

The Gift Nifty futures was more than 150 points below Nifty 50’s Monday close of 22,272.50, indicating a gap down start for Indian benchmarks

Asian stocks fell and the dollar climbed to more than five-month highs on Tuesday as stronger-than-expected U.S. retail sales for March further reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year.

Rising geopolitical tensions kept risk sentiment in check, lifting prices of gold and oil, while investor focus in Asia turns to China with GDP data due at 0200 GMT.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.4% to nearly seven-week lows of 521.92, with Japan’s Nikkei down 1.6%. U.S. stocks closed sharply lower on Monday as a jump in Treasury yields weighed on sentiment amid concerns about rising tensions between Iran and Israel.

Israelis awaited word on how Prime Minister Benjamin Netanyahu would respond to Iran’s first-ever direct attack on their country. Netanyahu on Monday summoned his war cabinet for the second time in less than 24 hours to weigh a response to Iran’s weekend missile and drone attack, a government source said.

“The markets have come alive with the sound of derisking, deleveraging, hedging and broad managing of risk exposures,” said Chris Weston, head of research at Pepperstone. “There is certainly not much in the news flow to inspire risk-taking and there is a growing list of factors to refrain from buying and to manage exposures.”

U.S. retail sales rose 0.7% last month, the Commerce Department’s Census Bureau said on Monday, while economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, would rise 0.3%.

The stronger-than-expected data comes after a report last week underscored inflation remains stickier than markets had expected, leading to a drastic scaling back of rate cuts this year.

Traders now anticipate 45 basis points of cuts this year, down from more than 160 bps in expected easing at the start of the year. Markets are now pricing in September, instead of June, to be the starting point for rate cuts, according to CME FedWatch Tool.

The yield on 10-year Treasury notes was at 4.608% in Asian hours having surged to a five-month high of 4.663% on Monday.

The elevated yields boosted the dollar and kept the yen near 34-year lows it has been rooted at in the past few days.

The dollar index, which measures the U.S. currency versus six rivals, was up 0.028% at 106.23, having risen 0.189% overnight. The yen weakened to 154.39 leading to fresh worries over intervention and comments from officials.

All eyes during Asian trading hours will be on China GDP along with industrial activity, fixed asset investment, retail sales and property market data.

“The property market has yet to confirm a bottom, and markets will watch the price data closely for any signs of stabilisation; a bottoming out of housing prices would be a positive sign of sentiment recovery,” ING economists said.

In commodities, U.S. crude rose 0.63% to $85.95 per barrel and Brent was at $90.63, up 0.59% on the day on rising tensions in the Middle East. Spot gold added 0.1% to $2,385.88 an ounce.