From global cues to Mankind Pharma IPO launch, 10 things to know before Street opens today

The Indian markets started the week on a positive note on Monday and gained over half a percent.  The benchmark indices after the initial uptick traded dull in the initial hours however noticeable buying in banking and financials majors changed the tone as the day progressed.

The 30-share BSE Sensex jumped 401.04 points or 0.67 per cent to reach the 60,000 level and settled for the day at 60,056.10. As many as 23 stocks in the index ended in the green and seven in the red.

While the NSE Nifty gained 119.35 points or 0.68 per cent to close at 17,743.40. A total of 24 Nifty shares gained, while 26 declined.

Among sectors, Nifty PSU Bank, Nifty Realty, and Nifty PVT Bank ended in green while Nifty Pharma, Nifty Media, and Nifty Healthcare ended on the lower side. In Nifty stocks, HDFC Life, Wipro and Titan were the top gainers while Cipla, IndusInd Bank, and Dr Reddy were the prime laggards.

“It’s a good start to the week however we need sustainability above 17,850 levels in Nifty to extend the tone,” Ajit Mishra, VP - Technical Research, Religare Broking Ltd said.

“Apart from banking and financials, the participation of other key sectors would be critical ahead. Meanwhile, traders should restrict their focus on identifying stocks from the performing sectors and avoid contrarian trades,” the market analyst said in his comment.

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of the top 10 news points which could impact markets, companies, or the economy:

Global Markets:

US stock markets shuffled to a mixed close on Monday, with interest rate-sensitive momentum shares weighing on the Nasdaq and US Treasury yields dipping as investors braced for a week of high-profile quarterly earnings and closely watched economic data.

The Dow Jones Industrial Average (.DJI) rose 66.44 points, or 0.2%, to 33,875.4, the S&P 500 (.SPX) gained 3.52 points, or 0.09%, to 4,137.04 and the Nasdaq Composite (.IXIC) dropped 35.25 points, or 0.29%, to 12,037.20.

Asian Markets:

Following the US market trend, key Asian indices were also trading mixed in the early morning session on Tuesday. Japan’s Nikkei and China’s Shanghai indices were in the green, while Hong Kong’s Hang Seng and South Korea’s Kospi were in the red today.

Nikkei grew by 0.5 per cent and Shanghai was up around 0.4 per cent, on the contrary, Hang Seng dipped by half a per cent and Kospi shed almost 0.25 per cent on Tuesday.

SGX Nifty:

Singapore Exchange (SGX) Nifty — an early indicator of the Nifty 50 index — was up 28 points or 0.16 per cent at 17,787 at this hour on Tuesday, suggesting a positive start ahead in the Indian share market today. It opened at 17,789 and touched the day’s high at 17,805 levels.

Rupee gains 14 paise

The rupee appreciated 14 paise to close at 81.92 against the US dollar on Monday as a firm trend in domestic equities and weak dollar boosted investor sentiments. However, selling pressure from foreign institutional investors may weigh on the rupee at higher levels.

At the interbank foreign exchange market, the local unit opened at 82.08 against the US currency and finally closed at 81.92 against the greenback, registering a gain of 14 paise over its previous close.

US dollar index dips

The dollar fell to a more than one-week low against major currencies on Monday in generally thin trading, as investors continued to price in interest rate cuts this year by the Federal Reserve after a widely expected rate increase at next week's policy meeting.

Aside from the Fed, the European Central Bank also meets next week and is also expected to lift rates by 25 basis points (bps), with the possibility of a 50-bps hike as well. Euro zone inflation and growth data are also due later this week.

Crude oil settles higher

Crude 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%, at $82.73 a barrel while U.S. West Texas Intermediate crude settled up 89 cents, or 1.1%, at $78.76.

Mankind Pharma IPO opens today

The initial public offering (IPO) of Mankind Pharma Ltd is scheduled to open today, April 25 and will close on April 27. The price band of the issue has been fixed at Rs 1,026 - Rs 1,080.  

The entire IPO will be an offer for sale (OFS) of 40,058,844 equity shares, amounting to Rs 4,326.36 crore. OFS means the company will not receive any funds from the share sale.

LIC total premium rises 17% in FY23

Life Insurance Corporation (LIC) on Monday said its total premium rose 17 per cent to Rs 2.32 lakh crore during FY2022-23. The same stood at Rs 1.99 lakh crore in the year-ago period.

In terms of premium collected, it continues to hold a market share of 62.58 per cent as on March 2023, LIC said in a statement.

Q4 results update

IndusInd Bank on Monday reported a 46 per cent jump in its March quarter net profit at Rs 2,043 crore on a dip in provisions and stronger core income. The Hindujas-promoted bank's core net interest income rose 17 per cent to Rs 4,669 crore on a 21 per cent loan growth and a 0.08 per cent expansion in the net interest margin to 4.28 per cent.

Heavyweights such as Bajaj Auto, Nestle India, Tata Consumer Products and HDFC Asset Management Company (AMC) are scheduled to announce their earnings today.

FII & DII Data:

Foreign portfolio investors (FPIs) remained net sellers for Rs 412.27 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1,177.18 crore on Monday, provisional data showed on the NSE.

(With inputs from PTI, Reuters and other agencies)