Most markets in Asia-Pacific region declined as traders await the release of US CPI data for March. The inflation print will give fresh cues about the Federal Reserve's rate outlook moving ahead.
The Nikkei 225 was trading 124.87 points or 0.31% lower at 39,648.26, and the KOSPI index was trading 12.49 points or 0.46% lower at 2,705.16 as of 06:30 a.m. The S&P ASX 200 was trading 35.70 points or 0.46% up at 7,859.90 as of 06:31 a.m.
Wall Street traders making their final bets on Wednesday’s key inflation report sent stocks lower as bonds rebounded after a recent slide, Bloomberg said.
The S&P 500 index and Nasdaq Composite fell 0.14% and 0.32%, respectively, as of Tuesday. The Dow Jones Industrial Average declined by 0.02%.
Brent crude was trading 0.01% higher at $89.43 a barrel. Gold fell 0.12% to $2,349.88 an ounce.
The GIFT Nifty was trading 5 points or 0.02% lower at 22,826.50 as of 06:36 a.m.
India's benchmark indices gave up all early gains to end lower, tracking losses in heavyweights Reliance Industries Ltd., Titan Co., and Larsen and Toubro Ltd.
The NSE Nifty 50 ended 24.55 points, or 0.11%, lower at 22,641.75, and the S&P BSE Sensex closed 58.80 points, or 0.079%, down at 74,683.70. The Nifty 50 rose to a fresh high of 22,768.40, and the S&P BSE Sensex gained to a record 75,124.28.
Overseas investors remained net sellers of Indian equities on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 593.2 crore and domestic institutional investors remained net buyers and mopped up equities worth Rs 2,257.2 crore, according to provisional data from the NSE.
The currency and bond markets were closed on the occasion of 'Gudi Padwa'.
Stocks To Watch
One 97 Communications: Surinder Chawla, MD and CEO of Paytm Payments Bank, has resigned effective June 26.
Paisalo Digital: The company’s AUM grew by 32% YoY to Rs 4,622 crore in the foruth quarter, while disbursements jumped 38% to Rs 3,588 crore.
Lupin: The company launched first generic version of Oracea in the U.S.
Avenue Supermarts: The company opened a new store in Bengaluru. The total number of stores as on date stands at 366.
Gateway Distriparks: Sikander Yadav resigned as Chief Financial Officer due to personal reasons.
Insolation Energy: The company reported FY24 consolidated revenue up 164% YoY at Rs 738.8 crore.
Shyam Metallics: The company announced the establishment of a new stainless-steel hot rolled coils facility at its existing plant in Odisha.
Shoppers Stop: The company has collaborated with EaseMyTrip for sponsored holidays.
Rattan India Power: Manish Ratnakar Chitnis has been appointed as CFO after Ankur Mitra resigned.
ICICI Prudential: The company received GST order worth of Rs 20.5 crore from Gujarat tax authorities for FY19.
Exide Industries: The company to acquired 26% stake in Clean Max Arcadia for Rs 5.3 crore.
PB Fintech: The company incorporated a wholly owned subsidiary PB Pay Pvt.
Welspun Living: NCLT has approved the scheme of amalgamation of 5 wholly owned subsidiaries with company.
Block Deal
Axis Bank: Bain Capital sold 3.33 crore shares (1.08%) at Rs 1,071 apiece. Societe Generale bought 62.5 lakh shares (0.2%), Morgan Stanley Asia Singapore Pte bought 42.25 lakh shares (0.13%), Goldman Sachs (Singapore) bought 36 lakh shares (0.11%), while BoFA Securities, Copthall Mauritius Investment, Norges Bank Mirae Asset Mutual Fund are among other buyers.
Bulk Deals
Astec LifeSciences: Ajay Kumar Aggarwal bought 1.2 lakh shares (0.61%) at Rs 1,254.07 apiece.
Five-Star Business Finance: TPG Asia VII Sf Pte Ltd sold 56.54 lakh shares (1.93%) at Rs 752.02 apiece.
Gland Pharma: Lakumi Trust sold 61.65 lakh shares (3.74%) at Rs 1,739.1 apiece, while Nicomac Machinery sold 19.55 lakh shares (1.18%) at Rs 1,735.31 apiece.
Route Mobile: Rajasthan Global Securities bought 4 lakh shares (0.63%) at Rs 1,610 apiece.
Edelweiss Financial Services: Pabrai Investment Fund 3 sold 53.24 lakh shares (0.56%), while CLSA Global Markets PTE bought 53.24 lakh shares (0.56%) at Rs 74.5 apiece.
NIRLON: Sadafuli Finvest sold 9.07 lakh shares (1%), while ICICI Prudential Mutual Fund bought 9.07 lakh shares (1%) at Rs 430 apiece.
Who’s Meeting Whom
Sunteck Realty: To meet analysts and investors on April 15.
Nestle India: To meet analysts and investors on April 10.
Trading Tweaks
Price Band changes from 10% to 5%: Paisalo Digital.
Moved into short-term ASM framework: Automotive Stampings and Assemblies, Best Agrolife.
Ex/record dividend: Vesuvius India, DCM Shriram Industries.
Ex/record AGM: SpiceJet.
Moved out short-term ASM framework: Dynacons Systems and Solutions, Emami Realty.
F&O Cues
Nifty April futures down by 0.06% to 22,735.35 at a premium of 92.6 points.
Nifty April futures open interest up by 9.11%.
Nifty Bank April futures up by 0.24% to 48,799.85 at a premium of 69.3 points.
Nifty Bank April futures open interest down by 1.63%.
Nifty Options April 10 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 22,500.
Bank Nifty Options April 10 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 48,000.
Securities in ban period: Bandhan Bank, Exide Industries, Hindustan Copper, IDEA, India Cements, Sail, Zee Entertainment Enterprise.
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