sensex Today: Stock Market LIVE Updates: Reliance rallies 4%. Infosys, HDFC twins top drag. Metal stocks in demand. India VIX eases 4%

Sensex Today LIVE Updates: Snapping four consecutive days of losing run, Sensex was trading in the positive today, led by a strong buying support in Reliance Industries, ICICI Bank, and SBI. HDFC duo remains top drag on key indices. HDFC slumped 3.55 per cent to Rs 2182.70. HDFC Bank fell 2.73 per cent to Rs 1357.20. Infosys dipped 1.28 per cent to Rs 1600.65.

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Procter & Gamble names LV Vaidyanathan as CEO for India operations

Global FMCG firm Procter & Gamble on Tuesday announced the appointment of LV Vaidyanathan as the Chief Executive Officer for its operations in India from July 1, 2022.

Asian shares mostly gain as China boosts support for economy

World stocks were mixed Tuesday, with European benchmarks losing ground after most Asian shares advanced. London, Paris, Frankfurt and Hong Kong declined while Tokyo and Sydney rose. US futures were higher and oil prices retreated.

There are some concerns regarding the marginal hit to profitability of the merged entity due to higher SLR and CRR requirements. (HDFC Ltd doesn’t have statutory requirements like SLR and CRR) But the weakness in HDFC twins after the merger announcements is due to sustained selling by FPIs and shorting by speculators exploiting the FPI positioning in the stocks. From valuation perspective, HDFC twins are attractively valued, short-term technical weakness not withstanding

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Refinery margins, inventory gains to offset losses on petrol, diesel: Fitch

State-owned fuel retailers IOC, BPCL and HPCL may suffer marketing losses in January-March 2022 quarter for holding petrol and diesel prices despite a rise in cost but robust core refining margins and windfall inventory gains should mitigate the potential losses in near term, Fitch Ratings said Tuesday.

Auto stocks that are in demand

Price as on 19 Apr, 2022 01:37 PMClick on company names for their live prices.

Dollar index passes 101 for first time in two years as yen slide continues

The dollar index rose past 101 for the first time since March 2020 on Tuesday, as the greenback set its latest 20-year high on the yen and tested a two-year peak on the euro, supported by high US Treasury yields and expectations of good economic data.

Dollar index in the last few sessions has been inching higher on back of prospects that the Federal Reserve could adopt to a more aggressive rate hike process than estimated earlier. The Fed has already begun raising rates this year and rising inflation is one of the factors supporting the view for more rate hikes. Fed minutes released earlier suggest that officials at the central bank have also started to discuss about balance sheet trimming, another tool to manage its fight against inflation. Going ahead, hawkish stance by the Federal Reserve is likely to extend gains for the greenback. We expect the dollar index to test levels of 103.20 in the near future and downside could be restricted to levels of 97.20

– Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services

Nifty IT index slips over 1%; LTI tanks 5%

JSW plans switch to green debt: Bloomberg

India’s JSW Group, which runs emissions-heavy businesses including steel, cement and energy, plans to switch a majority of its bonds to green instruments as the industrial giant seeks access to longer-term borrowings.

Kotak Mahindra Bank revises MCLR on loans

Kotak Mahindra Bank has revised the marginal cost of lending rate (MCLR) across loan tenors. The revised new rates are effective from April 16, 2022, according to the Kotak Mahindra Bank website.

Top gainers and losers in banking pack

Price as on 19 Apr, 2022 12:47 PMClick on company names for their live prices.

Reliance shares rally 4%

Price as on 19 Apr, 2022 12:12 PMClick on company names for their live prices.

HDFC twins make investors poorer by Rs 2.6 lakh crore in 9 days

From April 4 market value of Rs 9,18,591 crore, HDFC Bank has eroded Rs 1.67 lakh crore in the nine-day selloff. The private lender’s market value stood at Rs 7,51,421 crore in Tuesday’s intraday trade. Mortgage lender HDFC, on the other hand, has lost another Rs 91,595 crore in market value to Rs 3,94,097 crore from Rs 4,85,692 crore on April 4.

Varroc Engineering rises 11% after global lighting biz sale reports

Shares of Varroc Engineering rallied about 11 per cent in early trade on Tuesday after reports surfaced that the company was looking to sell its global lighting business. According to ET Now, the auto component maker is likely to sell its lighting business for about $ 600-650 million to a leading European component maker to pare its loan and become debt free.

INEOS Styrosolution plunges 15%; promoter plans to offload 14% stake via OFS

HDFC Bank shares down for 9th straight day

Jubilant FoodWorks shares trade ex-split

MindTree zooms 3% on robust Q4 earnings

Top Gainers

Gainers included Tata Steel, which rose 1.55 per cent to Rs 1,360. SBI, Bajaj Finserv, ICICI Bank, M&M and Bajaj Finance advanced up to 1.1 per cent. Reliance Industries, Maruti Suzuki, Axis Bank, IndusInd Bank inched up to 0.8 per cent higher.

Market LIVE Updates: Nifty50 has approached an important cluster. We remain hopeful of some recovery till the time 17,000 is defended successfully. On the flipside, Monday’s bearish gap area of ​​17,250-17,450 is likely to act as an immediate hurdle now. As of now, we expect the index to sustain the range for at least a couple of days, before breaking out of this congestion zone

– Sameet Chavan of Angel One

Nifty IT index only sectoral pack in red

Market LIVE Updates: How Sensex stocks are faring after opening bell

Market LIVE Updates: How Sensex stocks are faring after opening bell

Opening Bell: Sensex gains 270 points; Nifty above 17,250; AU SFB jumps 3%, Grasim 2%

Pre-open session: Sensex gains 200 points, Nifty above 17,250

Yen hits 20-year low; dollar index stays above 100 level

The Japanese yen hit a 20-year low against the dollar on Tuesday, supported by high US Treasury yields and likely comparatively good US economic data this week. The dollar rose 0.37% on the yen to 127.44 yen in early trade, its highest level since May 2002. The dollar was also firm against most other currencies and the dollar index was at 100.8, just off Monday’s two-year high of 100.86.

Oil steady despite Libya supply drop

Oil prices were little changed on Tuesday, after rising 1% in the previous session, as Libya was forced to halt some exports and as manufacturers in China prepared to reopen factories after a nearly three-week COVID-19 shutdown in Shanghai. Brent crude futures rose 21 cents, or 0.2%, to $ 113.37 a barrel at 0020 GMT, while US West Texas Intermediate (WTI) crude futures slipped 2 cents to $ 108.19 a barrel.

L&T Infotech and Mastek among cos to report Q4 results today

L&T Infotech and Mastek among cos to report Q4 results today

Market LIVE Updates: SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 43.5 points, or 0.25 per cent, higher at 17,269.50, signaling that Dalal Street was headed for a positive start on Tuesday.

Tech View: Nifty50 makes ‘Death Cross’, signals weakness

: Nifty50 on Monday made a ‘Death Cross’ as the 50-day simple moving average fell below its 200-day moving average. The last time the index made a ‘Death Cross’ was in March 2020. While A Death Cross suggests the trend may stay weak, a bounce cannot be ruled out given the index has come near its strong support range of 16,800-17,000 levels.

Hong Kong stocks down in early trade

Hong Kong stocks slid down in early trade on Tuesday after a four day holiday weekend, tracking growth concerns in China and modest falls on Wall Street. The Hang Seng Index fell 1.78 percent, or 382.28 points, at 21,135.80. The Shanghai Composite Index rose in early trade, up 0.15 percent, or 4.71 points, at 3200.24, while the Shenzhen Composite Index edged up 0.51 percent, or 10.31 points, to 2032.83.

Tokyo stocks open higher on bargain hunting

Tokyo stocks opened higher on Tuesday as investors bargain hunted shares that dipped after modest falls on Wall Street. The benchmark Nikkei 225 index was up 1.04 percent, or 278.29 points, at 27,078.00 in early trade, while the broader Topix index gained 0.94 percent, or 17.64 points, to 1,897.72.

US stocks edge lower as earnings roll in

US stocks closed slightly lower after a wobbly day of trading Monday, as worries about interest rates and inflation keep a lid on Wall Street despite some better-than-expected profit reports. The S & P500 slipped less than 0.1%. Like it, the other two major US stock indexes also rolled between small gains and losses Monday. The Dow Jones Industrial Average and Nasdaq each fell 0.1%.

Rupee slips 10 paise to 76.29 against dollar

The rupee depreciated for the third straight session to close 10 paise lower at 76.29 against the US dollar on Monday, tracking the strength of the greenback overseas coupled with foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 76.41 against the American currency, and shuttled between a high of 76.20 and a low of 76.43. It finally settled at 76.29, down 10 paise.

Sensex, Nifty on Monday

The Sensex plunged 1,172 points while the Nifty crashed below the 17,200-level on Monday, hammered by robust selling in market heavyweights Infosys and HDFC Bank following their below-estimate results. The BSE Sensex tumbled 1,172.19 points or 2.01 per cent to settle at 57,166.74 – marking its fourth straight session of loss. The broader NSE Nifty plunged 302 points or 1.73 per cent to 17,173.65.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader!  Here's something to kickstart your trading day

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