Stock Market Today: Top 10 things to know before the market opens on 28 April
The market is likely to open marginally higher today as the SGX Nifty indicates a positive start for the broader index with a gain of 140 points after settling the session at 17,915.
SGX futures touched a high of 18,059 in early trade today after opening at 18,040.
The BSE Sensex gained 348 points to close at 60,649 in the previous session, while the Nifty 50 closed 101 points higher at 17,915.
The Nifty 50 traded comfortably higher than its 200-day moving average of 17,414 and is expected to build on the recent momentum.
Pivot charts indicate that the Nifty may get support at 17,830, followed by 17,799 and 17,748.
If the index advances, 17,933 is the initial key resistance level to watch out for, followed by 17,964 and 18,015.
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 positive start for the broader index with a gain of 140 points after the Nifty closed 101 points higher at 17,915 on Thursday. SGX futures stood at 18,060.
US stock futures ticked higher on Thursday night.
Nasdaq 100 futures gained 0.5 percent, while S&P 500 futures added 0.2 percent. Futures linked to the Dow Jones Industrial Average advanced by 27 points, or 0.08 percent.
The Dow Jones Industrial Average advanced 524.29 points, or 1.57 percent, to close at 33,826.16 in previous close. The Nasdaq Composite jumped 2.43 percent to finish at 12,142.24, while the S&P 500 climbed 1.96 percent to end at 4,135.35.
It was the best day since January for the Dow and S&P 500 and March for the Nasdaq.
European Markets
The benchmark Stoxx 600 index closed 0.2 percent higher.
The banking sector gained 1.1 percent, after Deutsche Bank and Barclays profits beat expectations.
FTSE lost 0.27 percent to close at 7831. DAX gained 0.03 percent to close at 15,800 points.
Asian markets
In Japan, the Nikkei 225 rose 0.15 percent to close at 28,457.68 and the Topix climbed 0.43 percent to end the day at 2,032.51, while Australia’s S&P/ASX 200 was down 0.32 percent to finish at 7,292.7.
South Korea’s Kospi gained 0.44 percent to finish at 2,495.81 and the Kosdaq closed 2.38 percent up at 850.21, even as electronics giant Samsung Electronics posted a 94 percent year-on-year drop in operating profit for the first quarter.
Hong Kong’s Hang Seng index advanced 0.35 percent, but the Hang Seng Tech index was down 0.38 percent. Mainland Chinese markets were all higher, with the Shenzhen Component 0.28 percent up to end at 11,217 and the Shanghai Composite gaining 0.67 percent to finish at 3,285.88.
Wipro logs in 11% YoY rise in Q4 revenue at Rs 23,190 crore, misses estimates
Wipro on April 27 reported a 0.4 percent YoY decline in its consolidated net profit for the quarter ended March 2023 (Q4FY23) at Rs 3075 crore, as against Rs 3,087 crore a year ago.
The company had reported a profit of Rs 3,053 crore in the last quarter.
Axis Bank Q4 result: Private lender reports loss of Rs 5,728 crore
Private sector lender Axis Bank on April 27 reported a standalone loss of Rs 5,728.42 crore for the March quarter of FY23 due to the buying cost of Citi Bank’s India consumer business during the quarter.
The profit excluding the impact of exceptional items would have been Rs 6,625.29 crore for the quarter, a massive 61 percent growth against the reported profit of Rs 4,117.77 crore in the corresponding period last fiscal.
Oil prices
Oil prices steadied on Thursday after the previous day’s price drop on worries about a possible recession erased the supportive impact of a surprise cut to OPEC production targets this month.
Brent crude rose 59 cents to $78.28 a barrel. U.S. West Texas Intermediate crude rose 52 cents to $74.82.
Dollar
The Dollar index traded 0.01 percent higher in futures at 101.48, whereas the value of one dollar hovered near Rs 81.74.
Gold
Gold reversed course and fell on Thursday, as the dollar gained after weaker U.S. economic readings failed to upend expectations of another interest rate hike by the Federal Reserve next week amid stubborn inflation.
Spot gold was down 0.1 percent at $1,987.47 per ounce, while U.S. gold futures were up less than 0.1 percent to $1,996.8.
FII and DII
Foreign institutional investors (FII) bought shares worth Rs 1,652.95 crore, while domestic institutional investors (DII) purchased shares worth Rs 97.07 crore on April 27, according to provisional data from National Stock Exchange.
ByMoneycontrol
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