Opening Bell:
SGX Nifty is up by 39.5 points in the early morning trade, indicating a positive opening for Indian stock market.
Asian shares started cautiously on Monday in a week packed with economic data and central bank meetings, along with earnings from the tech giants that have kept the S&P 500 afloat so far this year. Japan’s Nikkei is up 0.31% in early trade, while South Korea’s Kospi slid 0.64% and the Hang Seng is down by 0.19% respectively. All major indices closed Friday on a downturn for the week as the earnings season began to ramp up, with several prominent banking names posting their quarterly results for the first time since the bank failures in March. The Dow dropped 0.23 percent and ended a four-week upside streak. The Nasdaq declined 0.42 percent, while the S&P edged down 0.1 percent.
Stocks News:
?ICICI Bank clocked a massive 30% on-year growth in standalone profit at Rs 9,122 crore for January-March quarter FY23, despite 51.5% increase in provisions and contingencies, driven by net interest income and operating profit.
?RIL recorded a 19.1% year-on-year growth in consolidated profit at Rs 19,299 crore for Q4FY23, with EBITDA growing 21.8% on-year to Rs 41,389 crore and gross revenue rising 2.8% YoY to Rs 2.39 lakh crore with continuing growth momentum in consumer businesses.
?HDFC AMC has received final approval from the SEBI for change in control of the company due to change in co-sponsor of HDFC Mutual Fund from HDFC-to-HDFC Bank, after the merger of HDFC and HDFC Bank. The respective approvals from SEBI in terms of the AIF regulations and the PMS regulations are awaited.
?Union Bank of India board of directors on April 26 will consider the capital raising plan. The fund raising will be either through qualified institutions placement and/or preferential allotment or issue of Basel III compliant additional Tier 1 bonds & Tier 2 bonds, subject to approval of the Government of India and other regulatory authorities.
?Foreign institutional investors (FII) sold shares worth Rs 2,116.76 crore, whereas domestic institutional investors (DII) picked up equities worth Rs 1,632.66 crore on April 21.
Domestic and International Events
- Starting FY24 on a positive note, Foreign portfolio investors (FPIs) have been buyers throughout the trading sessions in April month so far. On a reasonable valuation of stocks, they invested Rs 8,643 crore in Indian equities. Apart from equities, FPIs have invested Rs 778 crore in the debt market during the period under review.
- This week, India’s fiscal deficit and infrastructure sector output, both for March (all data to be released on April 28), are important releases to track. The first quarter GDP numbers from the US and the Eurozone are also significant data releases in the coming week
- Oil prices edged higher on Friday on strong economic data in the euro zone and Britain, but futures were on track for a weekly loss as interest rate uncertainty weighed.
- Gold fell sharply on Friday and was headed for its worst week in eight as hawkish remarks by U.S. Federal Reserve officials through the week bolstered bets for at least one more interest rate hike and buoyed the dollar.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 20,076 | (1.6) % |
| Shanghai Composite | 3,301 | (2.0) % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 33,809 | 0.1 % |
| DAX | 15,882 | 0.5 % |
| FTSE 100 | 7,914 | 0.2 % |
| Nikkei | 28,564 | (0.3) % |
| Straits Times | 3,322 | 0.3 % |
