Grasim Industries, Bharti Airtel, Maruti Suzuki, Nestle India, and Tata Motors were the top gainers in the Nifty 50. While Sun Pharma, BPCL, Reliance Industries, M&M, and Dr Reddy’s Laboratories were the key laggards in the Nifty 50 on April 23 during later hours.

Vodafone Idea shares rose over 14% to an intraday high of Rs 14.75 a day after the company’s FPO closed.

Courtesy: NSE

Courtesy: BSE

Grasim Industries, Bharti Airtel, HCL Technologies, Nestle India, and Hindustan Unilever were the top gainers in the Nifty 50. While Sun Pharma, BPCL, HDFC Life Insurance, Hindalco, and Reliance Industries were the key laggards in the Nifty 50 on April 23.

Share of Hatsun Agro Products jumped almost 14% to an intraday high of Rs 1,164.40 after the company reported its Q4 FY24 results. The company’s revenue grew to Rs 2,046.87 crore, an increase of over 14% on year compared to Rs 1,789.46 crore it posted in the same period a year ago. Hatsun saw an increase of 108% in its net profit standing at Rs 52.16 crore in Q4 FY24, compared to Rs 25 crore it reported in Q4 FY23.

Courtesy: NSE

Colgate Palmolive, Hindustan Unilever, Nestle India, Balrampur Chini, and ITC were the top gainers in the Nifty FMCG. While Tata Consumer Products, Radico Khaitan, United Breweries, Procter & Gamble, and Godrej Consumer Products were the key laggards in the Nifty FMCG on April 23.

Courtesy: NSE

The NSE Nifty 50 was up 66.85 points or 0.30% at 22,403.25, while the BSE Sensex was up 200 points or 0.27% at 73,847.92.

The stock of Mahindra & Mahindra Financial Services dipped 85% to an intraday low of Rs 256.50 after the company detected fraud in a branch in the North East.

” In respect of retail vehicle loans disbursed by the Company the fraud involved forgery of KYC documents leading to embezzlement of Company funds. The investigations in the matter are at an advanced stage. The Company estimates that the financial impact of this fraud is unlikely to exceed Rs.150 Crores. Investigations are underway, and necessary corrective actions have been identified and are at various stages of implementation, including arrest of few persons involved,” said the company in an exchange filing.

Shares of Bharti Airtel rose 2.7% to hit an all-time high of Rs 1,333.50 after the company launched its simplified international roaming pack for customers travelling to 184 countries. It said that the customer need not choose multiple packs instead select the duration of travel and travel anywhere using a single pack. The said plans offer data benefits, 24×7 contact center support, and in-flight connectivity.

Courtesy: NSE

PSP Projects has announced the commencement of its qualified institutions placement (QIP) to raise Rs 244 crore on Monday. The company has set the floor price for the QIP at Rs 682.59 per equity share, with a provision to offer a discount of up to 5% on the floor price to investors

Courtesy: NSE

“The Bank Nifty index exhibited continued bullish strength as it witnessed follow-up buying from lower levels. Currently, it is approaching a crucial resistance level around 48000, marked by the highest open interest on the call side. A decisive break above this level is anticipated to trigger further short covering moves. Meanwhile, immediate support lies at 47600-47500 levels, suggesting that any dip towards this support zone could present a buying opportunity,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

Commenting on the Technical outlook of Nifty Rupak De, Senior Technical Analyst, LKP Securities, said Bulls continued to dominate the market as the Nifty gained for the second consecutive session. The trend has turned positive after reclaiming a critical near-term moving average. Sentiment is expected to remain favorable for bulls as long as it stays above 22,150. On the upside, the index could potentially move towards 22,600-22,700. Conversely, a drop below 22,150 could lead to consolidation in the index.

Bharti Airtel, Titan, NTPC, HCL Technologies, and Tata Motors were the top gainers in the Nifty 50. While Hindalco, Nestle India, Power Grid, Britannia, and Adani Enterprises were the major losers in the Nifty 50 on April 23 during early trading hours.

The NSE Nifty 50 opens up by 0.50% at 22,447.05, while the BSE Sensex jumps 0.54% to 74,048.94 in the opening trade.

The NSE has added Biocon, Hindustan Copper, Idea, Piramal Enterprises, SAIL, and Zee Entertainment Enterprise in F&O on April 23, 2024.

Foreign institutional investors (FII) offloaded shares worth net Rs 2,915.2 crore, while domestic institutional investors (DII) bought shares worth net Rs 3,542.9 crore on April 22, 2024, according to the provisional data available on the NSE.

Shares in the Asia-Pacific region are trading positively on Tuesday morning. The Asia Dow is up by 1.60%, while Japan’s Nikkei 225 is in the green, rising by 0.45%. Hong Kong’s Hang Seng index has surged by 1.99%, and the benchmark Chinese index Shanghai Composite has ended lower by 0.67%.

WTI crude prices are currently trading at $82.34, reflecting a 0.15% increase, while Brent crude prices stand at $87.39, showing a 0.12% rise, as of Tuesday morning.

The US Dollar Index (DXY), which gauges the dollar’s value against a basket of six foreign currencies, experienced a 0.03% decline, trading at 106.09.

According to Bloomberg, U.S. stocks rebounded on Monday, marking the beginning of the busiest week for first-quarter earnings, which will significantly influence the equity outlook. The tech-focused Nasdaq Composite closed up by 152.89 points or 1% at 15,434.90. The S&P 500 also rose, gaining 39.48 points or 0.78% to reach 5,006.71, while the Dow Jones Industrial Average closed higher by 253.58 points or 0.57% at 38,239.98.