Stock Market Today: Top 10 things to know before the market ope

April 25, 2023April 25, 2023 Bruce Langford

The market is likely to open flat or marginally higher today as the SGX Nifty indicates a mildly positive start for the broader index with a gain of 45 points after settling the session near the day’s high on Monday.

SGX futures touched a high of 17,804 in early trade today after opening at 17,789.

The BSE Sensex gained 401 points to close at 60,056 in the previous session, while the Nifty50 closed 119 points higher at 17,743.

The Nifty50 traded comfortably higher than its 200-day moving average of 17,331 and is expected to retain the recent momentum.

Pivot charts indicate that the Nifty may get support at 17,649, followed by 17,616 and 17,561.

If the index advances, 17,758 is the initial key resistance level to watch out for, followed by 17,791 and 17,845.

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:

SGX NIFTY

SGX Nifty indicates a mildly positive start for the broader index with a gain of 45 points after the Nifty closed 119 points higher at 17,743 on Monday.

SGX futures stood at 17,804.

The Nasdaq Composite slipped on Monday as investors awaited the release of a slew of corporate earnings reports from big technology companies and fresh economic data.

The tech-heavy index slid 0.29 percent to close at 12,037.20.

The Dow Jones Industrial Average ended up 66.44 points, or 0.2 percent to finish at 33,875.40 points.

The S&P 500 closed 0.09 percent higher at 4,137.04.

European Markets

The pan-European Stoxx 600 index provisionally ended little changed for the session, with technology stocks down 1.1 percent and financial services up 0.6 percent.

FTSE lost 0.02 percent to close at 7912. DAX lost 0.11 percent to close at 15863 and the French CAC lost 0.04 percent to close at 7573.

Asian markets

Japanese markets were all higher: the Nikkei 225 rose 0.54 percent and the Topix gained 0.74 percent.

However, South Korea’s Kospi was down 0.15 percent and the Kosdaq shed 0.43 percent, after the country’s central bank announced that its GDP grew 0.8 percent year-on-year in the first quarter.

Hong Kong’s Hang Seng Index slid 0.46 percent in early trade, while the Hang Seng Tech index saw a larger drop at 1.56 percent down. Mainland Chinese markets were mixed.

The Shenzhen Component shed 0.23 percent, but the Shanghai Composite advanced 0.26 percent higher.

Mankind Pharma offer will open for public today.

While the closing date would be April 27, 2023.

The price band for the issue has been fixed at Rs 1,026-1,080 per share. Ahead of the IPO, the company mobilized Rs 1,297.9 crore from anchor investors.

The pharmaceutical company said it has finalized allocation of 1.2 crore equity shares to anchor investors at a price of Rs 1,080 per share, the higher end of price band.

IndusInd Bank Q4 profit zooms 50% to Rs 2,040 crore

IndusInd Bank beat estimates with a 49.88 percent surge in standalone net profit at Rs 2040.51 crore for the March quarter of 2022-23 as against Rs 13,61.37 crore a year back.

Brokerages had predicted a 43.3 percent on-year rise in bottom-line.

Net interest income of the lender came in at Rs 4,669.46 crore, registering a rise of 17 percent year-on-year.

The bank’s board also recommended the payment of a dividend at Rs 14 per share subject to approval of shareholders at the ensuing Annual General Meeting.

Oil prices

Oil prices settled higher on Monday, reversing losses as investors grew optimistic that holiday travel in China would boost fuel demand in the world’s largest oil importer.

Brent crude settled up $1.07, or 1.3 percent, at $82.73 a barrel while U.S. West Texas Intermediate crude settled up 89 cents, or 1.1 percent, at $78.76.

Dollar

The Dollar index traded 0.46 percent lower in futures at 101.080, whereas the value of one dollar hovered near Rs 81.97.

Gold

Gold firmed on Monday, helped by a weaker dollar, although prices were stuck in a tight range as traders turned their attention to this week’s economic data that may influence the U.S. Federal Reserve’s next policy decision. Spot gold was 0.3 percent higher at $1,988.69 per ounce, while U.S. gold futures settled up 0.4 percent at $1,999.20.

FII and DII

Foreign institutional investors (FII) sold shares worth Rs 412.27 crore, whereas domestic institutional investors (DII) bought shares worth Rs 1,177.18 crore on April 24, according to provisional data from National Stock Exchange.

ByMoneycontrol