Sensex Today Live Updates : Sensex down 600pts, Nifty at 22,570; Broader markets, sectoral indices fall

Sensex Today Live : Airtel today informed the exchanges today it has a total of 26.1 million customers using 5G services across eight states.

In an exchange filing, the company said, it has 3.5 million 5G customers in West Bengal, 7.7 million 5G customers in Uttar Pradesh and Uttarakhand, 1.2 million 5G customers in Jharkhand, 2.7 million 5G customers in Punjab, 3.8 million 5G customers in Rajasthan, 2.9 million 5G customers in Madhya Pradesh, and 4.3 million 5G customers in Bihar.

Sensex Today Live : We expect Elara Aviation universe – InterGlobe Aviation (INDIGO IN) and SpiceJet (SJET IN) – to report a combined adjusted PAT of ₹2,340 crore in Q4FY24E versus ₹3,320 crore in Q3FY24 and ₹620 crore in Q4FY23. As per Directorate General of Civil Aviation (DGCA) data, Q4FY24 domestic demand was up only 2% YoY while domestic capacity fell ~1% YoY, which led to a 5% rise in airfare.

INDIGO to post adjusted PAT of ₹2,060 crore in Q4FY24E

We expect INDIGO to post an adjusted profit of ₹2,060 crore in Q4E versus ₹3,050 crore in Q3FY24 and ₹670 crore in Q4FY23. We expect passenger volume to improve 2% QoQ and 3% YoY with PLF at 87.2% in Q4FY24E versus 84.2% in Q4FY23.

SpiceJet to report adjusted PAT of ₹280 crore in Q4FY24E

We expect SpiceJet to post an adjusted PAT of ₹280 crore in Q4FY24E versus a loss of ₹47. 7 crore in Q4FY23. In Q4FY24E, passenger volume may dip 18% YoY and 4% QoQ on account of a decrease in fleet size.

Sensex Today Live : Barring the Auto, Metal, and Realty indices, most other heavyweight indices were in the red, with Bank down 0.49%, Financial Services down 0.57%, FMCG down 0.61%, IT down 0.24%, Pharma down 0.67%, and Healthcare down 0.57%.

Sensex Today Live : The broader market was outperforming the benchmark indices, with the BSE Midcap index up 0.37%, and the BSE SmallCap index up 0.29%. 

Sensex Today Live : More than half the stocks were in the red on the Nifty 50,  with losses led by Sun Pharma, Titan, Apollo Hospital Enterprises, Shriram Finance, and Maruti Suzuki India, while the top gainers were Tata Motors, NTPC, Eicher Motors, Bajaj Auto, and Divi’s Lab.

Sensex Today Live : 12 of the 30 stocks on the BSE Sensex were in the green, with gains led by Tata Motors, NTPC, Nestle India, IndusInd Bank, and TCS, while the top drags were Sun Pharma, Titan, Maruti Suzuki India, JSW Steel, and Asian Paints. 

Sensex Today Live : Indian benchmark indices were red on Friday, led by weak signals from Asian peers.

At 12 pm, Sensex was down 240.36 points, or 0.32%, at 74,797.79, and Nifty was down 68.25 points, or 0.3%, at 22,685.55.

Sensex Today Live : “Industry MAAuM as at Feb’24 stood at ₹54.53 lakh crore and equity/debt share was 53%/16%. Equity flows continue to remain strong; excluding NFOs, Jan’24 and Feb’24 combined, saw net flows of ₹50,100 crore compared to ₹53,360 crore in Q3FY24. Equity QAAuM growth is expected to sustain in Q4’FY24 as industry overall QAAuM has grown by 10% QoQ to ₹54.13 lakh crore while closing equity AuM (incl. balanced) has seen healthy YTD growth of 48.4% as at Feb’24.

We expect AMCs in our coverage to see overall/equity QAAuM growth of 11.1%/13.5% QoQ (vs 5.2%/9.5% in Q2FY24). Equity QAAuM growth would be superior for HDFC and NAM at ~15% QoQ due to strong equity performance, while core income for our coverage AMCs could grow by 13.2% QoQ. Nippon is our preferred pick in the AMC space.”

–Gaurav Jani, Research Analyst at Prabhudas Lilladher

Sensex Today Live : Non-bank lenders are grappling with a surge in borrowing costs as banks have grown wary of lending to them in the wake of a regulatory caution, compelling these firms to broaden their funding sources.

Major deposit-accepting non-banking financial corporations like Bajaj Finance and Shriram Finance Ltd, for example, have significantly increased their fixed deposit rates this month. They aim to accumulate funds to compensate for reduced bank loans. (Read the full story here.)

Sensex Today Live : The Great Eastern Shipping Company today informed the exchanges that it has taken delivery of a 2010 built medium range product tanker “Jag Priya”, which has a capacity of about 49,999 dwt.

The company had contracted to buy the vessel in Q4FY24. Including this vessel, the company’s current fleet stands at 43 vessels, comprising 29 tankers (6 crude carriers, 19 product tankers, 4 LPG carriers) and 14 dry bulk carriers aggregating 3.41 mn dwt, the company said, in an exchange filing.

This vessel is financed entirely from internal accruals and the purpose of the acquisition is expansion of the fleet, the company said.

Sensex Today Live : On Wednesday, Maruti Suzuki, the leading car manufacturer in the country, announced a price hike for its Swift hatchback and certain variants of its SUV model, the Grand Vitara.

The company stated in a press release that the Swift’s price has been raised by as much as ₹25,000. Meanwhile, only the Sigma variant of the Grand Vitara saw a price increase, which was set at ₹19,000.

It’s worth noting that this isn’t the first price increase this year for Maruti Suzuki. In January, the company increased the prices of all its products by an average of 0.45%.

Sensex Today Live : Indian benchmark indices were red on Friday, led by weak signals from Asian peers as hopes of an early rate cut by the US Federal Reserve faded on the back of hot inflation data.

At 11 am, Sensex was down 335.47 points, or 0.45%, at 74,702.68, and Nifty was up 95.40 points, or 0.42%, at 22,658.40.

Sensex Today Live : Manorama Industries today informed the exchanges that it has begun commissioning of its new fractionation plant with an annual capacity of 25,000 tonnes.

The company said in an exchange filing, with the completion of this process, its total fractionation capacity will increase to 40,000 TPA.

Sensex Today Live : The medical diagnostics company on April 10 said it has delivered a 10% year-on-year increase in overall revenue. The core business revenue witnessed even stronger growth, surging by 15% compared to the previous year. Its Q4FY24 sales volume increased 8% year-on-and Revenue Per Patient (RPP) increased 7% YoY. This growth was primarily propelled by the speciality tests segment, premium wellness segment, and implemented price increases. Moreover, the company’s Business-to-Consumer (B2C) revenues recorded a notable 18% year-on-year growth, indicating strong demand for its services among individual consumers. One of the significant milestones achieved by Metropolis Healthcare during the quarter was the repayment of its debt, resulting in a debt-free status as of March 31, 2024.

Sensex Today Live : Varun Beverages today informed the exchanges, it will acquire 14% stakes in two companies to source solar power for its facilities in UP and Maharastra for a total consideration of ₹5.14 crore.

In an exchange filing, the company said it would acquire up to 14% equity share capital of Huoban Energy 11 Private Limited, a special purpose vehicle engaged in supply of solar power in the state of Maharashtra, and another 14% of equity share capital of Aspirative Creative Ventures Private Limited, engaged in the supply of solar power the state of Uttar Pradesh.

The company added that it would pay Rs. 2.90 crore and ₹2.24 crore for the deals, respectively, with both the companies supplying power to its facilities in Supa Parner, Sakri, District Dhule, Maharashtra, and Gorakhpur, Uttar Pradesh.

Sensex Today Live : Mutual fund transfer agency Computer Age Management Services announced to the stock exchanges on April 10 that it has been authorized by the Reserve Bank of India (RBI) to function as an online payment aggregator. The company had initially received an in-principle authorization from the RBI in February 2023, as per the company’s statement. Its payment business unit, CAMSPay, currently caters to a diverse clientele, including mutual funds, insurance companies, banks, and NBFCs. In the previous month, CAMSPay recorded over 1.2 million mandates for UPI Autopay, highlighting the company’s expanding presence in the online Digital Payments Segment.

Sensex Today Live : Indian benchmark indices were red on Friday, led by weak signals from Asian peers as hopes of an early rate cut by the US Federal Reserve faded on the back of hot inflation data.

At 10 am, Sensex was down 369.13 points, or 0.49%, at 74,669.02, and Nifty was up 100.90 points, or 0.44%, at 22,652.90.

Sensex Today Live : The telecom major announced early Friday that it plans to initiate a Follow on Public Offer (FPO) of equity shares, aiming to raise up to ₹18,000 crore. The FPO is scheduled to commence next week. The FPO will be open for subscription from April 18 to April 22. Offers for anchor investors will be approved on April 16, as stated in the company’s exchange filing. Vodafone Idea‘s Capital Raising Committee is set to convene later on Friday to discuss and finalize the price band and discount for the FPO. Starting from April 15 until the offer closes, Vodafone Idea will engage in road shows and discussions with investors and analysts.

Sensex Today Live : “Banknifty created history by conquering the 49,000 zone with a gradual rise witnessed and with improved bias is expected to surge ahead with next target of 49,800 level achievable. Bankex has retraced 1.28% from recent correction, there is resistance near the 55,500 zone which needs to be breached decisively for confirmation of further upward move towards 56,400 level. Banknifty would have the daily range of 48,600-49,400 levels & for Bankex support at 55,000 & resistance at 55,600 level.”

Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher

Sensex Today Live : “Nifty index has slowly and gradually surged ahead, making new highs, with the overall bias and sentiment maintained strong with the initial target of 22,800 almost achieved. As mentioned earlier, with the positive uptrend maintained, we anticipate the index to achieve a further target of 23,200 levels in the coming days. Sensex is making a new high and entering uncharted territory; some profit booking or consolidation cannot be ruled out, and any dip towards the support level will be a good buying opportunity for the day. The support for the day is seen at the 74,500/22,600 level, while the resistance would be seen at the 75,500/22,900 level.”

–Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher

Sensex Today Live : Uno Minda Ltd, a manufacturer of auto components, announced on Wednesday, April 10, that its forthcoming passenger vehicle alloy wheel plant in Haryana, valued at ₹542 crore, will be established progressively over the next five years. The initial phase of the plant, located in IMT Kharkhoda, Haryana, is set to be operational in the second quarter of FY26, with a monthly capacity of 120,000 wheels, as per a filing with the stock exchange.

Recently, Uno Minda had been allotted a strategic parcel of land measuring 94.32 acres at IMT Kharkhoda. A portion of this land, approximately 25 acres, has been earmarked for the greenfield alloy wheel plant.

Sensex Today Live : RattanIndia-backed Revolt Motors informed the exchanges today that it will inaugurate its first Company-Owned Company-Operated (COCO) store in Karol Bagh, Delhi, on April 12, 2024.

Sensex Today Live : Barring Auto, Media, PSU Bank, and Realty, most other heavyweight indices were in the red. The Nifty Bank was down 0.31%, while Financial Services was down 0.35%. Pharma, Metal, FMCG, Healthcare, Oil & Gas, and Consumer Durables, were down 0.73%, 0.23%, 0.35%, 0.53%, 0.23%, 0.04%, respectively.

Sensex Today Live : The broader market was in the green, with the BSE SmallCap index gaining 0.30%, and the BSE MidCap index up 0.13%.

Sensex Today Live : Only 14 of the 50 stocks on the Nifty 50 were in the green, with gains led by NTPC, Larsen & Toubro, Tata Motors, Hindalco, and Divi’s Laboratories, while Sun Pharma, JSW Steel, Shriram Finance, Asian Paints, and Titan, were the top drags. 

Sensex Today Live : Only nine of the 30 stocks on the BSE Sensex were in the green, with gains led by NTPC, Tata Motors, Larsen & Toubro, IndusInd Bank, and Mahindra & Mahindra, while the top losers were Sun Pharma, JSW Steel, Asian Paints, UltraTech Cement, and TCS.  

Sensex Today Live : Indian benchmark indices opened in the red on Friday, led by weak signals from Asian peers as hopes of an early rate cut by the US Federal Reserve faded on the back of hot inflation data.

At opening bell, Sensex was down 303.89 points, or 0.40%, at 73,959.75 and Nifty was up 66 points, or 0.29%, at 22,687.80.

Sensex Today Live : On Thursday, April 11, PVR INOX unveiled a 14-screen megaplex in Bengaluru, featuring three high-end formats: MX4D, ScreenX, and Insignia. The newly opened cinema at Phoenix Mall of Asia in Bengaluru can accommodate up to 1,997 viewers and is equipped with 4K laser projection, Dolby Atmos advanced surround sound, and a Volfoni 3D screen.

The multiplex chain has introduced South India’s first MX4D, an immersive 4D movie experience, and ScreenX, a 270-degree cinema viewing experience. Of the 14 screens, one offers the multi-sensory MX4D experience, one features the large-screen format ScreenX, three are designed in a luxury format, and nine premiere auditoriums are equipped with plush recliners in the last row for a celebrity-like experience. 

Sensex Today Live : Maharashtra Seamless, a manufacturer of steel pipes and tubes, announced on April 11, Thursday, that it had won an order from Oil and Natural Gas Corporation Ltd (ONGC) worth around ₹674 crore. The company will deliver casing seamless pipes in staggered shipments over a period of 44 weeks, as reported in a regulatory filing by the DP Jindal Group’s leading company.

The operations of Maharashtra Seamless Ltd are divided into three sectors: steel pipes and tubes, power electricity, and RIG. In the third quarter of FY24, the company witnessed a year-over-year (YoY) increase of 6.92% in its net revenue. It also saw a significant YoY profit growth of 60.66%. The operating income of the company rose by 62.71% YoY. The market capitalisation of Maharashtra Seamless was ₹12,021.06 crore as of April 11, Thursday.

Sensex Today Live : Indian benchmark indices were red at pre-open on Friday, led by muted Asian peers that were trading down on the back of fading hopes of an early US interest rate cut.

Sensex was down 152.08 points, or 0.20%, at 74,886.07, and Nifty was down 76.35 points, or 0.34%, at 22,677.45 during pre-open.

Sensex Today Live : On April 11, Manjushree Technopack Limited (MTL) declared that it has finalized agreements to purchase the plastics packaging division of Oricon Enterprises Limited, with an Enterprise Value of ₹520 crore.

The business being acquired includes Oriental Containers, a producer of plastic caps, closures, and preforms, predominantly utilized in beverages.

MTL stated that this deal will result in doubling its existing market share in the caps and closures segment, boasting an installed capacity of nearly 15 billion pieces annually.

The acquisition encompasses two manufacturing facilities situated in Goa and Odisha.

MTL expressed that the amalgamated business will reap the benefits of a broader range of moulds, machines, and SKUs, thereby enhancing unit economics and deepening relationships with key customers.

Sensex Today Live : TCS, Wipro, Vi, TaMo, HUL, CAMS, Dr Reddy’s, Adani Total Gas, are a few stocks likely to be in focus on Friday, April 12.

Sensex Today Live : The Indian stock market indices, Sensex and Nifty 50, are projected to commence on a downward note this Friday, taking cues from the mixed performance of global counterparts. The Gift Nifty trends suggest a gap-down opening for the Indian benchmark index, trading at a level of 22,675, which is approximately 130 points lower than the Nifty futures’ close on Wednesday.

On Wednesday, the domestic equity indices concluded with significant gains, with the benchmark Nifty 50 achieving a new record high of 22,775 and closing near the peak. The Sensex escalated by 354.45 points to conclude at 75,038.15, while the Nifty 50 ended 111.05 points, or 0.49%, up at 22,753.80.

The Nifty 50 chart formed a small positive candle with minor shadows at both ends. “Technically, this pattern signifies the formation of a high wave type candle pattern. However, given that this pattern was formed amidst a sideways range, the predictive value of this pattern could be less,” stated Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. (Read the full story here.)

Sensex Today Live : The local stock market is anticipated to start on a lower note this Friday, influenced by a blend of global market indicators. Asian markets exhibited a mixed performance, whereas US stocks mostly closed on a higher note after experiencing significant losses in the prior session. The Indian markets remained closed on Thursday due to Eid.

The US inflation rate, which exceeded expectations, has diminished the prospects of a June interest rate reduction by the US Federal Reserve. Conversely, the European Central Bank (ECB) has indicated that the declining inflation in the eurozone will soon enable it to initiate rate reductions.

Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, expressed, “We foresee the current upward trend in the market to persist. The broader market is also expected to maintain its superior performance along with specific stock action, driven by robust domestic flows and positive business updates. The technology sector is projected to be under the spotlight as TCS is set to announce its Q4FY24 results on Friday.” (Read the full story here.)

Sensex Today Live : Indian benchmark indices were likely to open on a muted-to-positive note, as US and Asian peers advanced on the back of climbing tech stocks and on the back of expectations of positive results from most companies in the quarter ended March 31.

At 8:30 am, the Gift Nifty futures were trading at 22,676.50, nearly 80 points below the Nifty 50’s Wednesday’s close of 22,753.80. Markets were closed in India on Thursday for Eid.

A global equities index rose slightly on Thursday after falling earlier in the day while Treasury yields rose as investors looked to the latest inflation data for clues on the potential for Federal Reserve interest rate cuts.

A day after March’s hot Consumer Price Index (CPI) reading sent equity investors to the exits, Thursday’s data showed U.S. producer prices rose more slowly than expected last month with a cost of services increase blunted by falling goods prices. The producer price index (PPI) for final demand rose 0.2% versus economist expectations for 0.3% and a February increase of 0.6%.

But New York’s Fed President John Williams said on Thursday that while the central bank has made considerable progress with inflation, it does not yet appear to need rate cuts. Richmond Fed President Thomas Barkin said the Fed is not yet where it wants to be to have confidence price pressure will keep easing.

“(Thursday) morning’s PPI report came in softer than expected, lessening the blow of the disappointing CPI report (on Wednesday), which obviously shows that progress on disinflation is stalling,” said Emily Roland, co-chief investment strategist at John Hancock Investment.

But while the Fed will have two more months of data to look at before it makes a rate decision in June, Roland said “markets are getting the memo that the Fed is likely not going to be able to cut anytime soon” and that “it’s tough to see the case to cut rates.”

On Thursday, traders were betting on a roughly 76% chance that the Fed will keep rates unchanged in June, versus 83.5% on Wednesday and an almost 51% chance they will stay the same in July compared with 57.6% on Wednesday, according to CME Group’s FedWatch tool.

On Wall Street the Dow Jones Industrial Average fell 2.43 points, or 0.01%, to 38,459.08, the S&P 500 gained 38.42 points, or 0.74%, to 5,199.06 and the Nasdaq Composite gained 271.84 points, or 1.68%, to 16,442.20.

MSCI’s gauge of stocks across the globe rose 2.10 points, or 0.27%, to 774.88 after falling earlier by 0.46%. Europe’s STOXX 600 index closed down 0.4% earlier.

In currencies, trading was choppy with the dollar last up slightly as weaker-than-expected March U.S. producer prices did not relieve concerns about persistent inflation which has fueled fears that the Fed will take its time cutting rates this year.

The dollar index gained 0.07% at 105.27, with the euro down 0.16% at $1.0725. Against the Japanese yen , the dollar strengthened 0.05% at 153.25. The yen’s recent slide against the dollar re-ignited intervention fears, as Japanese officials reiterated they would not rule out any steps to deal with excessive swings.

Oil prices settled lower as sticky inflation dampened hopes for near-term U.S. interest rate cuts, but worries that Iran might attack Israeli interests kept crude near six-month highs. U.S. crude settled down 1.38% at $85.02 a barrel and Brent ended at $89.74 per barrel, down 0.82% on the day.

Gold prices firmed after the inflation data while persistent geopolitical concerns added to the metal’s shine. Spot gold added 1.84% to $2,375.67 an ounce. U.S. gold futures gained 1.86% to $2,372.90 an ounce.