The benchmark Sensex and Nifty indices are likely to open higher on April 23 as trends in the GIFT Nifty indicate a firm start for the broader index with a gain of 32 points.
The Indian equity indices extended gains for the second straight session on April 22 following positive global cues as worries over Iran-Israel tensions eased a bit. At close, the Sensex was up 560.29 points, or 0.77 percent, at 73,648.62, and the Nifty was up 189.40 points, or 0.86 percent, at 22,336.40.
The pivot point calculator indicates that the Nifty 50 is expected to face resistance at the 22,353 level, followed by the 22,413 and 22,481 levels. On the lower side, the index may take immediate support at the 22,236 level, followed by 22,194 and 22,126.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms, which could impact Indian as well as international markets.
GIFT Nifty
Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 32 points or 0.14 percent. The Nifty futures were trading around the 22,416.50 level.
Trade setup for today: Top 15 things to know before the opening bell
US Markets
Wall Street stocks ended higher on Monday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the US economy's health.
The S&P 500 gained 43.37 points, or 0.87 percent, to 5,010.60 and the Nasdaq Composite gained 169.30 points, or 1.11 percent, to 15,451.31. The Dow Jones Industrial Average rose 253.58 points, or 0.67 percent, to 38,239.98.
Asian Markets
Asian markets were trading higher in the early trade on Tuesday with Strait Times up nearly 1 percent, while Nikkei and Kospi up marginally.
Reliance Industries posts Q4 profit at Rs 21,243 crore
Reliance Industries Ltd (RIL) said net profit rose 0.1 percent to Rs 21,243 crore for the fiscal fourth quarter, beating analyst estimates, driven by a recovery in its core oil-to-chemicals (O2C) business.
Profit attributable to owners of the company was at Rs 18,951 crore in the fourth quarter as compared to 19,299 crore in the year earlier.
The company’s board approved a dividend payout of Rs 10 per share.
The company reported revenue of Rs 2.41 lakh crore in the three months ended March 31, according to an exchange filing on April 22.
Macquarie introduces $1.5-billion India EV financing platform Vertelo
Australia-based Macquarie Group has launched an Electric Vehicle (EV) financing platform called Vertelo, which will offer financing, fleet management and charging infrastructure solutions.
While 95 percent of its $1.5-billion investment will focus on electrifying fleets of commercial vehicles, the remaining five percent of investment will go towards charging infrastructure and other requirements.
The new platform has received anchor investment from the Green Climate Fund, which has committed to invest up to $200 million.
As a first step on this journey, Vertelo has signed a long-term lease agreement with Chalo Mobility Pvt Ltd, a leading Indian transport technology company, to supply 44 electric buses manufactured by JBM, a leading electric bus manufacturer in India, to operate in Mumbai.
Dollar
A firm US dollar had the yen locked near a fresh 34-year low on Tuesday, keeping investors on heightened intervention watch as they looked ahead to key US inflation report and the Bank of Japan's rate decision this week.
The yen remained pinned after hitting 154.85 yen on Monday, its lowest level since the mid-1990s, as the stark U.S.-Japan rate differentials came into focus again amid an easing in Iran-Israel tensions. It last hovered around 154.76 per dollar.
Gold Prices
Gold prices dropped more than 2 percent to a one-week low on Monday as worries over a wider Middle East conflict subsided, prompting investors to scale back safe-haven trades in favour of riskier assets like equities.
Crude
Oil prices edged higher in early Asian trading on Tuesday, reversing losses from the previous session, as investors continued to assess the risk from geopolitical concerns in the Middle East.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 2,915.23 crore, while domestic institutional investors (DIIs) bought Rs 3,542.93 crore worth of stocks on April 22, provisional data from the NSE showed.
Stock under F&O ban on NSE
The NSE has added Hindustan Copper to the F&O ban list for April 23, while retaining Biocon, Vodafone Idea, Piramal Enterprises, SAIL, and Zee Entertainment Enterprises to the said list. Balrampur Chini Mills, Bandhan Bank, Exide Industries, and Metropolis Healthcare were removed from the said list.
With inputs from Reuters and other agencies
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