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HomeNewsIndian NewsMorning Update:-Nifty opens above 22,700, Sensex up 250 points, Vedanta gains 3%.

Morning Update:-Nifty opens above 22,700, Sensex up 250 points, Vedanta gains 3%.

Morning Update :Tata Steel, Hindalco, Bharti Airtel, Reliance Industries, and Coal India were among the Nifty’s top gainers, while Divis Labs, HDFC Bank, Adani Ports, Sun Pharma, and Apollo Hospital fell.

Sensex – Rise  260 Points at  74,944

Nifty 50 – Rise 75 Points at 22,718

 Indian Market 


FII Sold 593.20 Cr
DII Bought2,257.18 Cr
on last session

 Indian Market News

  1. US stocks edge to higher close as markets prepare for CPI data and earnings.
  2. The government extends the deadline for comments on the draft digital competition bill until May 15.
  3. Asian markets were trading mixed, with the Nikkei, Shanghai Composite down, and the Hang Seng up 1%.
  4. Exide Industries will acquire a 26% equity stake in Clean Max Arcadia.
  5. FPIs increased their stake in Paytm by 2% in Q4 FY24.
  6. Lemon Tree opens new hotel in Kathmandu, Nepal.
  7. Cupid Q4 net profit jumps 189%, sales increase by 52%.
  8. PB Fintech incorporates its wholly-owned subsidiary PB Pay.
  9. Suraj Estate Developers settles pending litigation with OLV and the OLPS Society.
  10. Finolex Industries sells leasehold rights for Rs.470 crore near Pune.
  11. Surinder Chawla resigns as the MD and CEO of Paytm Payments Bank.

Global Markets updates

GIFT Nifty

Trends in the GIFT Nifty indicate a strong start for India’s broader index, which gained 55 points, or 0.24 percent. The Nifty futures were trading near the 22,814.50 level.

US Market

The Nasdaq and S&P 500 saw modest gains on Tuesday, ahead of major inflation data. However, financial stocks were weighed down as investors awaited major U.S. banks’ earnings reporting season on Friday. The Dow Jones Industrial Average fell by 0.02%, while the S&P 500 gained by 0.14 percent.

Asian Market

Asian markets fell as Japan’s corporate inflation rose in March, and central banks in New Zealand and Thailand are expected to raise interest rates.


The yen was trading close to multi-decade lows on Tuesday, keeping traders on the lookout for any potential action from Japan to support its currency. Investors were cautious ahead of US inflation data, and the dollar was little changed on the day, moving in narrow ranges.

Gold Prices

Tuesday saw gold continue its record run, driven by geopolitical risks and buying momentum. In the meantime, attention was focused on the Federal Reserve’s policy meeting minutes and U.S. inflation data, which provided clues about the timing of potential rate cuts in the US.

Spot gold hit a record high of $2,365.09 and was up 0.1 percent at $2,341.85 an ounce. To $2,360.70, U.S. gold futures increased by 0.4 percent.


Tuesday saw a decline in oil prices for the second day in a row as negotiations for a ceasefire in Gaza proceeded. However, losses were contained to less than $1 per barrel as Egyptian and Qatari mediators encountered opposition in their efforts to end the conflict.

News Updates

IIHL of the Hinduja Group purchases a 60% share in Invesco India Asset Management.

IndusInd International Holdings Limited (IIHL), a Mauritius-based investment holding company, has announced a definitive agreement to form a joint venture with Invesco Ltd, acquiring a 60% stake in Invesco Asset Management India Limited. This follows reports that IIHL was in advanced talks to acquire a 60% stake in Invesco MF.

Govt. extends until May 15th the deadline for feedback on the proposed digital competition bill.

The government has extended the deadline for submitting stakeholder comments on the draft digital competition bill and the report of the Committee on Digital Competition Law (CDCL) by one month to May 15. The initial deadline was set for April 15. The Ministry of Corporate Affairs had previously invited comments under the e-consultation module by April 15.

Stocks in news

One 97 Communications: For personal reasons, Surinder Chawla has resigned from his position as managing director and CEO of Paytm Payments Bank, according to information provided by the associate entity Paytm Payments Bank.

Lupin: Following approval from the US Food and Drug Administration, the pharmaceutical company released its first generic version of Oracea (40 mg Doxycycline capsules) in the US.

Exide Industries:
The producer of automotive batteries has signed a deal to buy a 26% ownership share in Clean Max Arcadia, a special purpose vehicle (SPV) established and supported by Clean Max Enviro Energy Solutions for the production and distribution of solar energy.

Paisalo Digital: The company reported that at the end of the March FY24 quarter, assets under management (AUM) increased by 32% to Rs 4,622 crore, disbursements increased by 38% to Rs 3,588 crore, and the co-lending loan disbursement increased by 100% to Rs 1,128 crore.

Shivalik Rasayan: On April 1 and April 9, of this year, the US Food and Drug Administration (US FDA) conducted an inspection of the company’s API facility located in Dahej, Gujarat. With seven observations, the US FDA concluded its inspection. The nature of these observations is procedural.

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