Indian equity benchmarks made cautious start on Tuesday despite broadly positive global cues. Soon, markets slipped below neutral lines and extended their losses in early deals due to profit taking after yesterday’s rally. Rising petrol and diesel prices also dented sentiments in markets. As per a private report, petrol and diesel prices have been hiked by 80 paise a litre each on April 05, taking the total increase in the last two weeks to Rs 9.20 per litre. Adding more pessimism, the government data showed that India’s trade deficit rose 87.5 percent to $192.41 billion in 2021-22 as against $ 102.63 billion in the previous year. However, downside remained capped as traders took note of a report that the government is committed to supplying fertilisers at affordable prices to farmers with required subsidies despite rising international market rates due to the Russia-Ukraine conflict, huge procurements by China and other global factors, which may push the annual fertiliser subsidy to up to Rs 2 lakh crore in the current financial year.
Asian markets are trading mostly higher in a light trading day as few major markets are closed, following the broadly positive cues from Wall Street overnight. Besides, the Ministry of Internal Affairs and Communications said the average of household spending in Japan was up 1.1 percent on year in February – coming in at 257,887 yen. Taiwan and China are closed for Qingming Festival and Hong Kong is closed on account of National day.
Back home, sugar industry stocks were in focus as industry body ISMA said India’s sugar export may touch 85 lakh tonne in the ongoing 2021-22 marketing year ending September. In scrip specific development, Zomato was down after the Competition Commission ordered a detailed probe against Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners.
The BSE Sensex is currently trading at 60381.59, down by 230.15 points or 0.38% after trading in a range of 60284.79 and 60786.07. There were 16 stocks advancing against 13 stocks declining, while 1 stock remain unchanged on the index.
The broader indices were trading in green; the BSE Mid cap index rose 0.53%, while Small cap index was up by 0.83%.
The top gaining sectoral indices on the BSE were Auto up by 1.18%, Utilities up by 1.05%, Power up by 1.02%, Industrials up by 1.01%, Consumer Durables up by 0.90% while, Bankex down by 1.00%, Realty down by 0.32% were the only losing indices on BSE.
The top gainers on the Sensex were Tech Mahindra up by 1.31%, Mahindra & Mahindra up by 1.15%, TCS up by 1.09%, Titan up by 1.08% and Power Grid up by 1.03%. On the flip side, HDFC Bank down by 2.34%, Bajaj Finance down by 1.56%, HDFC down by 1.42%, Bajaj Finserv down by 1.04% and Kotak Mahindra Bank down by 1.03% were the top losers.
Meanwhile, Finance Minister Nirmala Sitaraman has said that Foreign Direct Investment (FDI) staying in the country and creating jobs and prospects, and not the outflow of Foreign Institute Investors (FIIs) and Foreign Portfolio Investors (FPIs), should be assessed to measure robustness of the Indian economy. She added that India continues to remain the highest receiver of the FDI.
She also said ‘The FIIs and FPIs would come and go. But, today the Indian retail investors have proven that even if they come and go any shock that may come in is now taken care of because of the shock absorbing capacity that the Indian retailers have brought into the Indian market’.
Sitharaman said one needs to look at the FDI inflow ‘with fairness and objectivity’. She noted that ‘We in the House should stand up and appreciate the Indian retailer who has invested a lot of confidence in the markets today in India’.
The CNX Nifty is currently trading at 18000.35, down by 53.05 points or 0.29% after trading in a range of 17972.30 and 18089.70. There were 27 stocks advancing against 23 stocks declining on the index.
The top gainers on Nifty were Tata Motors up by 2.46%, Adani Ports & SEZ up by 2.03%, Eicher Motors up by 1.70%, UPL up by 1.59% and Tech Mahindra up by 1.24%. On the flip side, HDFC Bank down by 2.48%, Bajaj Finance down by 1.69%, HDFC down by 1.61%, Kotak Mahindra Bank down by 1.18% and Bajaj Finserv down by 1.14% were the top losers.
Asian markets are trading mostly in green; Nikkei 225 rose 22.04 points or 0.08% to 27,758.51, Straits Times advanced 13.16 points or 0.39% to 3,430.13 and Jakarta Composite added 13.61 points or 0.19% to 7,129.83, while KOSPI was down by 2.28 points or 0.08% to 2,755.62.
Some of the big shares will play very important in stock market, Now marketing is going up from last fews days, so find below few leading shares with current price, so keep eyes on that shares May be it will helpful for all traders.
SBI share price – 495.40
DLF share price – 362.60
Tata Steel Share Price – 1,330.20
HDFC bank share price – 1,481.70
ITC Share Price – 246.60