Paytm rally continues, Coal India drags and more

Indian Markets:

• Index movement: The Nifty 50 index showcased an impressive gain of 195.40 points, accounting for a 1.08% increase, ultimately settling at 18,264.40.
• Friday’s sharp sell-off in the domestic equity markets was followed by a notable resurgence of strong buying demand on Monday.
• The Nifty 50 demonstrated its resilience by closing above the significant milestone of 18,250 points, reflecting a positive shift in market sentiment.
• Sectors like automobiles, banking, and financials, contributed to the market upward trajectory.
• In the last few weeks the bond yields have gradually come down as central banks have adjusted their hawkish stance. This has led to improved investor confidence that interest rate will not rise from hereron, and thus not his consumption further.

Global Markets:

• Markets in Europe and Asian advanced on Monday as traders looked ahead to more corporate earnings, economic data and a Bank of England rate decision this week.
• The Bank of Ja    pans board members discussed concerns over inflation rising more than expected, minutes from former governor Haruhiko Kurodas final meeting showed. They also warned against ?hasty? changes to the central banks monetary policy, including its inflation target of 2%.
• US stocks rebounded Friday, ending largely higher as shares of Apple surged after upbeat results and U.S. jobs data pointed to a resilient labor market.
• U.S. job growth accelerated in April while wage gains increased solidly. The non-farms payroll report showed U.S. employers added 253,000 new jobs in April, up from 165,000 in March. The Labor Departments closely watched employment report on Friday also showed the unemployment rate falling back to 3.4%.

Stocks in Spotlight:

• Marico, a prominent homegrown Fast-Moving Consumer Goods (FMCG) player, witnessed a remarkable surge in its share price, exceeding 7 percent, as a result of its exceptional performance in the March quarter. The company impressively outperformed the projections set by analysts, both in terms of revenue generation and profitability, primarily driven by the success of its flagship brand, Parachute.
• One97 Communications surged of 4.95% in its share price, reflecting a positive market response to its financial performance. The company reported a consolidated net loss of Rs 167.5 crore in the fourth quarter of FY23, marking a substantial improvement compared to the net loss of Rs 762.5 crore incurred in the corresponding period of FY22.
• Coal India witnessed a decline of 2 percent in its share price as investors responded to lower quarterly profit figures. Despite the company’s notable achievement of recording its highest sales in both the March quarter and the fiscal year 2023, this decrease in profit prompted some shareholders to sell their shares.

News from the IPO world?

• RR Kabel files for Rs. 225 crore IPO
• Nexus Select Trust IPO opens on 9th May 2023
• Tata Play gets SEBI approval to float IPO

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