Sensex Today Live Updates : Sensex down 280pts, Nifty at 21,900; Broader markets, all sector indices red, VIX up 4.7%

Sensex Today Live : Barring FMCG, all other sector indices were in the red, with the PSU Bank index down 1.16%, followed by the Healthcare and Auto indices which were down 0.61% and 0.55%, respectively.

Sensex Today Live : The broader market was in the red, with the BSE MidCap index down 0.93%, and the BSE SmallCap index down 0.51%. 

Sensex Today Live : 14 of the 50 stocks on the Nifty 50 were in the green, with Grasim Industries, Mahindra & Mahindra, ONGC, Apollo Hospital Enterprises, and ITC, leading the gains, while Bajaj Auto, Axis Bank, Tata Motors, HDFC Life, and Larsen & Toubro, were the top drags. 

Sensex Today Live : 11 of the 30 stocks on the Sensex were in the green, with Mahindra & Mahindra, ITC, Maruti Suzuki India, HDFC Bank, and Bharti Airtel leading the gains, while Axis Bank, Tata Motors, HCLTech, Larsen & Toubro, and NTPC, were the top drags. 

Sensex Today Live : Indian benchmark indices were down but paring their losses on Friday, as tensions between Iran and Israel flared up after reports suggested that Israel had launched an attack on Iran.

At 12 pm, Sensex was down 249.38 points, or 0.34%, at 72,239.61, and Nifty was down 78.95 points, or 0.35%, at 21,919.90.

Sensex Today Live : Ind-Swift Laboratories informed the exchanges that it is in the process of setting up a subsidiary in Dubai for potential acquisitions, joint ventures, tie ups and operation of pharma manufacturing units. In an exchange filing, the company said, “We hereby inform you that Ind-Swift Laboratories Limited has approved the incorporation of a wholly owned subsidiaryin Dubai, United Arab Emirates (UAE) in the name and style of “Ind-Swift (Dubai) Ltd.” or such other name as may be approved by the concerned authorities of the UAE”.

The company said the subsidiary intends to strategically invest in pharmaceutical and allied activities, including exploring potential acquisitions, tie-ups, or joint ventures. Additionally, the Company aims to establish and operate pharmaceutical manufacturing units.

Sensex Today Live : Aurionpro Solutions today informed the exchanges about the strategic acquisition of Mumbai-based Banking and Insurance focused PaaS startup, Arya.ai.

With Arya.ai, Aurionpro will significantly enhance its portfolio of enterprise fintech offerings to expedite the adoption of AI that is responsible, accurate, and auditable, aligning strongly with the rapidly evolving demands of Banks and Insurers, the company said in an exchange filing.

Under the terms of the agreement, Aurionpro Solutions will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and tailored industry solutions, to complement and strengthen Aurionpro’s existing industry leading portfolio, hte company said.

The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including secondary acquisition and fund infusion is approximately $16.5 million.

Sensex Today Live : Indian benchmark indices were in the red on Friday, as tensions between Iran and Israel flared up after reports suggested that Israel had launched an attack on Iran.

At 11 am, Sensex was down 401.57 points, or 0.55%, at 72,087.42, and Nifty was down 133 points, or 0.6%, at 21,862.85.

Sensex Today Live : Bajaj Auto reported an 18% increase in consolidated net profit in Q4FY24, at ₹2,011.43 crore, up from ₹1,704.74 crore in the same period last year. It reported a revenue of ₹11,249.8 crore for the January-March quarter, marking a 30% increase from ₹8,660 crore in the corresponding period last year. For the fiscal year ending on March 31, 2024, the company reported a 33% increase in net profit, reaching ₹7,479 crore, compared to ₹5,628 crore in the FY23 fiscal. The company’s revenue from operations reached a record high of ₹44,685 crore for FY24, up from ₹36,428 crore in the 2022-23 fiscal. The company’s EBITDA for the March quarter surged by 34.4% to ₹2,307 crore, while operating margins stood at 19.7%, an increase of 180 basis points. The automaker’s board also approved a dividend of ₹80 per share.

Sensex Today Live : Indian benchmark indices were in the red on Friday, as tensions between Iran and Israel flared up after reports suggested that Israel had launched an attack on Iran.

At 10 am, Sensex was down 301.26 points, or 0.42%, at 72,187.73, and Nifty was down 98 points, or 0.45%, at 21,897.85.

Bed linen manufacturer and exporter Indo Count informed the exchanges today that it has acquired US-based bed, bath and home fashion brand WAMSUTTA from Beyond, Inc.

This acquisition, which closed on April 18, 2024, strengthens Indo Count’s brand portfolio, and elevates its position in the premium market segment, the company said.

WAMSUTTA, renowned for its exceptional quality and a brand legacy dating back to 1846, is poised for substantial growth under Indo Count’s leadership, the company added in its exchange filing.

Sensex Today Live : Inox Wind informed the exchanges that it has bagged an order for the supply of 210 MW of Wind Turbine Generators (WTGs) from Hero Future Energies. The order is for IWL’s state-ofthe-art 3 MW Wind Turbine Generators (WTGs), and the scope comprises of equipment supply with certain add-on services, the company said.

Additionally, Inox Wind will also provide post commissioning multi-year operations & maintenance (O&M) services. The WTGs will be supplied to HFE from Q3FY25 onwards and will be installed in South India.

Sensex Today Live : Man Industries (India) informed the exchanges today that its coating mill at Anjar, Gujarat has undergone stringent technical assessment from Shell Global Solutions International for steel pipeline and been approved by it against their Design and Engineering Practices (DEPs). This approval demonstrates quality standard compliances, reduce risk, and optimize performance of the company’s manufacturing facilities.

Sensex Today Live : Happiest Minds Technologies today informed the exchanges that it has entered into a share purchase agreement with Macmillan Learning India Pvt. Ltd. to acquire the company for ₹4.5 crore.

In an exchange filing, the company said, “We wish to inform that the Company has executed a Share Purchase Agreement to acquire 100% equity interest in Macmillan Learning India Private Limited, subject to the terms and conditions set out in the Agreement. On closing the said transaction, Macmillan Learning India will become a wholly owned subsidiary of the Company”.

Sensex Today Live : On Thursday, April 18, Infosys reported a 30% YoY increase in its net profit for Q4FY24, at ₹7,975 crore, compared to a profit of ₹6,134 crore in Q4FY23. Its revenue for the quarter was ₹37,923 crore, marking a 1.3% YoY increase. In terms of constant currency (CC), the revenues remained unchanged YoY and saw a 2.2% decrease QoQ. Its operating margin at 20.1%, decreased 0.9% YoY and 0.4% QoQ. The company also projected its slowest ever growth guidance, anticipating a revenue growth of 1-3% in constant currency terms for FY25. This subdued guidance is a result of the company’s historically weakest full-year dollar-revenue growth of 1.9% for FY24. Infosys also announced its biggest acquisition to date – a $480-million purchase of German engineering research and development firm In-Tech .

Sensex Today Live : All the sectoral indices were in the red, with the PSU Bank index (down 1.64%), and the IT index (down 1.08%), emerging as the biggest losers.

Sensex Today Live : The broader market was swimming in a sea of red, with the both the BSE SmallCap and BSE MidCap index down more than 1% each. 

Sensex Today Live : Only six out of the 50 stocks on the Nifty 50 were in the green. ONGC, ITC, Sun Pharma, Cipla, and ICICI Bank, were the top gainers, while BPCL, HDFC Life, Bajaj Auto, Infosys, and Larsen & Toubro, were the top drags. 

Sensex Today Live : Only one stock, ITC, out of the 30 on the BSE Sensex was in the green, while losses were being led by Infosys, Larsen & Toubro, NTPC, Power Grid Corp., and SBI.  

Sensex Today Live : Indian benchmark indices opened in the red on Friday, as tensions between Iran and Israel flared up after reports suggested Israel had launched an attack on Iran.

At opening bell, Sensex was down 632.67 points, or 0.87%, at 71,856.32, and Nifty was up 163.25 points, or 0.74%, at 21,832.60.

Sensex Today Live : Indian benchmark indices were red at pre-open on Friday, as tensions between Iran and Israel flared up again after reports suggesting explosions in Iran.

Sensex was down 489.34 points, or 0.68%, at 71,999.65 and Nifty was down 134.35 points, or 0.61%, at 21,861.50 during pre-open.

Sensex Today Live : Dhanlaxmi Bank informed the exchanges today that the RBI has approved the appointment of Ajith Kumar K.K as the managing director and CEO of the bank for a period of three years with effect from the date of taking charge.

The bank said it will now convene a board meeting to approve the appointment of Ajith Kumar K.K as the MD and CEO of the bank and the approval of the shareholders will be obtained after that as per the regulatory provisions.

Presently, Ajith Kumar is serving as the Chief Human Resources Officer in Federal Bank Limited in the cadre of President.

Sensex Today Live : “Nifty bears are seizing the opportunity amid Middle East tensions. However, for a sustained rally at Dalal Street, positive surprises in inflation, geo-political developments, or Q4 earnings are crucial. Wall Street experienced volatile trading on Thursday, driven by corporate earnings and Fed commentary hinting at reduced rate cut expectations. Minneapolis Fed President Neel Kashkari advocated patience, suggesting policy adjustments might not occur until 2025. With INFY’s ADR shares dropping 2%, Nifty faces downward pressure. Amid concerns about US inflation, Nifty’s immediate downside is pegged at 21,710. FIIs were net sellers while DIIs bought. Nifty’s trading range is projected between 21,700-22,200, with 22,000 as crucial resistance. Long story short: caution and agility are advised. Preferred trades: Buy Nifty on dips between 21,750-21,800 with targets at 22,250/22,500, and Bank Nifty between 46,500-46,600 with targets at 48,371/49,101.”

Prashanth Tapse, Senior VP (Research), Mehta Equities

Sensex Today Live : The Indian stock market indices, **Sensex** and **Nifty 50**, are predicted to commence trading on a lower note on Friday, influenced by the global market’s weak performance. The **Gift Nifty** trends suggest a gap-down opening for the Indian benchmark index, trading around the 21,800 mark, nearly 260 points lower than the previous close of Nifty futures.

On Thursday, the domestic equity indices ended their fourth consecutive session in the red, with Nifty dropping below the 22,000 mark. The Sensex fell by 454.69 points to close at 72,488.99, while the Nifty 50 index declined by 152.05 points, or 0.69%, to settle at 21,995.85.

The Nifty chart showed a long bearish candle, negating the minor upward bounce from the previous session. “The Nifty is on the brink of falling below the critical support level of 22,000 (the lower end of the ascending channel and upward trend line on the weekly chart). The positive chart pattern of higher tops and bottoms remains intact. As long as the Nifty stays above the 21,700 level, there’s a likelihood of a bounce back from the lows according to this pattern,” stated Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. (Read the full story here.)

Sensex Today Live : The local stock market is predicted to start off on a negative note this Friday, continuing the bearish trend in the light of unfavorable global market indicators. Asian markets are performing poorly, and the US stock market showed a mixed performance last night. This follows a series of assertive remarks from officials at the US Federal Reserve and robust economic data, indicating that the central bank is unlikely to reduce interest rates anytime soon.

The market’s anticipation for a minimum rate cut of 25 basis points in June has dwindled to 15.2%, as per CME’s FedWatch Tool, with July’s expectation at 41.5%, a decrease from 48.4% just a week ago, as reported by Reuters.

“Markets experienced a flurry of sell-offs towards the end of a highly fluctuating trading session, with fading hopes of a rate cut and ongoing foreign institutional investors’ withdrawal from domestic stocks negatively impacting investor sentiment. Despite the Indian economy’s resilience and successful navigation of global concerns, persistent inflation, increasing geo-political tensions, and delays in interest rate cuts have triggered profit booking in recent weeks,” stated Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd. (Read the full story here.)

Sensex Today Live : Indian shares are set to open lower on Friday, tracking Asian peers, on reports of an escalation in geopolitical tensions in the Middle East.

India’s GIFT Nifty was trading at 21,670 as of 8:02 a.m. IST, indicating that the Nifty 50 will open below its Thursday’s close of 21,995.85.

MSCI’s broadest index of Asia-Pacific shares slipped more than 2% and U.S. stock futures also pointed 1.3% lower following media reports that Israeli missiles had hit a site in Iran.

Indian markets fell for a fourth straight session on Thursday, their longest daily losing streak in six months. The benchmark Nifty 50 and S&P BSE Sensex have lost about 3.3% each in the last four sessions.

Asian shares and bond yields sank on Friday while the dollar, yen, oil and gold surged after reports of a sharp escalation in Middle East hostilities.

MSCI’s broadest index of Asia-Pacific shares dived more than 2% and U.S. stock futures also pointed 1.3% lower following media reports Israeli missiles had hit a site in Iran.

U.S. long-term Treasury yields dropped as much as 13.5 basis points to 4.512%. The U.S. dollar index was last up 0.14%, while the yen gained about 0.4% versus the dollar. Both currencies are considered safe havens.

Gold jumped 1.6% to $2,414.69, heading back toward last week’s all-time high at $2,431.29.

“Market response looks tied to fears that this is an Israeli reprisal,” said Kyle Rodda, an analyst at Capital.com. “We’re just waiting to get more news now as the situation unfolds.”

Oil prices jumped $3 a barrel as the reports heightened concerns that Middle East supply could be disrupted.

Israeli Prime Minister Benjamin Netanyahu had vowed retaliation earlier this week following a volley of attacks from Iran on the weekend.