Morning Update :–Titan Company, Bharti Airtel, SBI Life Insurance, Eicher Motors, and Nestle were among the Nifty’s top gainers, while LTIMindtree, NTPC, Bajaj Finance, TCS, and Infosys fell.
Sensex – Fall -309 Points at 73,090
Nifty 50 – Fall -83 Points at 22,189
Indian Market
FII AND DII
| FII Sold | Â 3,268Â Cr |
| DII Bought | 4,762.93 Cr |
Indian Market News
- US stocks close down as Middle East tensions and Treasury yields weigh.
- Asian markets trade lower, with the Kospi down 2.3% and the Nikkei down 2%.
- Oil prices rise as Israel weighs its response to Iran’s attack.
- The dollar rises after strong retail sales, while the yen falls; data from China is expected.
- Life Insurance Corporation raises stake in Hindustan Unilever.
- Welspun Corp claims USD 15 million in project cancellation charges from SCS Carbon.
- 1.05 million Jio Financial shares trade in a bunch, according to Bloomberg.
- Cipla will buy Ivia Beaute’s cosmetics and personal care business for Rs 130 crore.
- Domestic air traffic increased to 133.68 lakh in March.
- Jio Financial Services signs a joint venture with Blackrock to establish a wealth management and brokerage business.
- ONGC shares are under pressure from increased windfall tax on crude.
Global Markets updates
GIFT Nifty
The GIFT Nifty has lost 168.50 points, or 0.75 percent, suggesting that the wider index in India is off to a bad start. The Nifty futures were fluctuating between 22 and 184.
US Market
US stocks closed sharply lower on Monday due to a surge in Treasury yields and rising geopolitical tensions between Iran and Israel. The Dow Jones Industrial Average fell by 0.65%, the S&P 500 lost by 1.20%, and the Nasdaq Composite lost by 1.79%.
Asian Market
Asian markets experienced declines amid Israel’s response to Iran’s air assault. China’s first-quarter GDP is expected to grow 4.6% from a year ago, with industrial production and retail sales figures also expected on Tuesday.
Gold Prices
Monday saw a decline in gold prices as the dollar and Treasury yields rose in response to a better-than-expected increase in U.S. retail sales in March, which stoked concerns that the Federal Reserve may postpone raising interest rates this year.
Crude
Oil prices rose on Tuesday due to Middle East tensions, with Brent futures for June delivery rising 46 cents to $90.56 a barrel and U.S. crude futures for May delivery rising 43 cents to $85.84 a barrel. Israel’s military chief announced his response to Iran’s missile and drone attack.
News Updates
The Hindustan Unilever stake of Life Insurance Corporation is increased.
Life Insurance Corporation of India (LIC) has increased its ownership stake in Hindustan Unilever, a major player in the FMCG industry, from 4.99 percent to 5.01 percent, according to a filing in the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The increase was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
For Rs 130 crore, Cipla will purchase Ivia Beaute’s personal care and cosmetics company.
Cipla Health Limited has signed a business transfer agreement to acquire Ivia Beaute Private Limited’s distribution and marketing business of cosmetics and personal care, including brands Astaberry, Ikin, and Bhimsaini, on a global scale. The acquisition is expected to be finalized within 60 days of the agreement’s signature or by another mutually agreed-upon date. The transaction is contingent upon the successful completion and waiver of the precedent and closing conditions specified in the business transfer agreement.
US retail sales increased in March more than anticipated.
US retail sales increased by 0.7% in March to $709.6 billion, surpassing forecasts of lower consumer demand, according to government data from the Commerce Department. The increase was 4.0% higher than the previous year, following a revision of February’s increase.
Stocks in news
Cipla: Through a slump sale arrangement, Cipla Health, a wholly-owned subsidiary of the company, has agreed to buy the distribution and marketing business undertaking of cosmetics and personal care business from Ivia Beaute, India, as a going concern.
Jio Financial Services: In order to establish a 50:50 joint venture for wealth management and broking operations in India, Jio Financial has entered into an agreement with BlackRock Inc. and BlackRock Advisors Singapore Pte.
Gujarat Gas: To increase the range and accessibility of energy solutions for customers, the company and Indian Oil Corporation have inked a non-binding Memorandum of Understanding (MOU).
LTIMindtree: Effective April 15, Pankaj Chugh and Gregory Dietrich have resigned from their positions as the company’s Executive Vice Presidents of Global Sales.
Brigade Enterprises: As of April 18, the board has named Jayant Bhalchandra Manmadkar as the real estate company’s chief financial officer.
Manappuram Finance: The gold loan financing company announced that its board of directors will convene on April 19 to discuss raising up to US$ 500 million through external commercial borrowings in one or more tranches.
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