Global Cues Point to Weak Start for Indian Indices
On the institutional front, FIIs were net buyers, purchasing Rs 4,667.94 crore worth of shares. Since the last four trading sessions, FIIs have been on a buying spree, while DIIs net sold Rs 2,006.15 crore.
Pre-Market Update at 8:00 AM: The Indian stock market is expected to open flat on Monday, with the Sensex and Nifty 50 showing a subdued outlook due to mixed global cues. Gift Nifty was down by 50 points at 23,801, signaling a weak start.
U.S. markets closed mixed on Thursday, with the Dow Jones dropping 1.33 per cent, while the S&P 500 gained 0.13 per cent. The Nasdaq fell by 0.13 per cent. Meanwhile, China's lending rates remain unchanged for the sixth consecutive month, and the European Central Bank cut rates again due to economic concerns.
The U.S. dollar weakened significantly, falling to a three-year low against the euro, and gold prices hit an all-time high due to safe-haven demand. Crude oil prices fell over 1 per cent amid progress in U.S.-Iran nuclear talks.
Asian markets showed a mixed trend, with Japan’s Nikkei 225 down 1.16 per cent, while South Korea's Kospi rose by 0.14 per cent. Hong Kong and Australia markets were closed for the Easter holiday.
Investors will focus on upcoming Q4 earnings, global tariff updates, and the monthly derivatives expiry. Indian markets were closed on Friday, April 18, for Good Friday, while on Thursday, the Sensex gained 1,508 points and the Nifty rose 414 points.
Q4 Results:
Infosys: Net profit rose 3.3 per cent QoQ to Rs 7,033 crore, but revenue fell 2 per cent QoQ.
HDFC Bank: Net profit grew 6.7 per cent YoY to Rs 17,616 crore, with a dividend of Rs 22/share.
ICICI Bank: Net profit increased 18 per cent YoY to Rs 12,629 crore, with a dividend of Rs 11/share.
Market Activity: FIIs were net buyers, purchasing Rs 4,667 crore worth of shares, while DIIs sold Rs 2,006 crore. Stocks banned for trading in the F&O segment on April 21 include Angel One, Hindustan Copper, Manappuram Finance, IREDA, and NALCO.
Disclaimer: The article is for informational purposes only and not investment advice.