Sensex Today Live : Indian benchmark indices were off the day’s high and trading in the red at noon on Thursday.

At 12 pm, Sensex was down 84.96 points, or 0.12%, at 72,902.07 and Nifty was down 32.95 points, or 0.15%, at 22,167.60.

Sensex Today Live : Brightcom Group, in an exchange filing today, said, it is committed to meeting all regulatory requirements and deadlines set by the exchanges. The action comes after the stock exchanges suspended trading in the company’s stock on June 14 after it failed to report quarterly results for two consequtive quarters.

The company said, “We would like to clarify to the shareholders of the company though this exchange notification about a recent notice issued by the National Stock Exchange (NSE) regarding the potential suspension of trading of Brightcom Group Ltd. shares. This notice has understandably raised concerns among our valued shareholders, and we want to provide clear and transparent information on the matter.

The NSE notice indicates that the suspension of trading is contingent upon the company’s failure to declare its quarterly results for the second (Q2) and third (Q3) quarters by June 11, 2024. We want to assure you that Brightcom Group Ltd. is fully committed to meeting all regulatory requirements and deadlines set by the exchanges.

Our team is diligently working to finalize and release the quarterly results within the stipulated timelines. We are confident that by adhering to these deadlines, we will avoid any suspension of trading and continue to operate smoothly on both the NSE and the Bombay Stock Exchange (BSE)”.

Sensex Today Live : Happiest Minds Technologies today announced its strategic partnership with Solvio, to offer Salesforce implementations to its clients across six industry groups – Industrial, Manufacturing and Energy & Utilities, Healthcare & Life Sciences, Retail, CPG & Logistics, Banking, Financial Services and Insurance (BFSI), Hi-Tech and Media & Entertainment, and EdTech.

Sensex Today Live : Indian benchmark indices were trading in the red on Thursday.

At 11 am, Sensex was down 89.22 points, or 0.12%, at 72,897.81 and Nifty was down 36.55 points, or 0.16%, at 22,164.

Sensex Today Live : Schaeffler India has launced a strategic digital campaign for its definitive clutches and drivetrain components aftermarket brand, LuK. The launch of the ad films marks Schaeffler India’s latest communication in its #Badhechalo marketing drive for intelligent repair solutions for all vehicle classes, the company said in an exchange filing.

Sensex Today Live : Rushil Decor today announce its expansion into South America.

With exports already reaching over 50 countries, Rushil Decor is set to penetrate one of the largest markets for MDF globally. The company announced the move on the eve of Interzum Bogota, an international industry fair for furniture and wood technology being organised between May 14 and 17 in Colombia, South America.

Sensex Today Live : India’s largest crude and natural gas producer, the state-run Oil and Natural Gas Corporation (ONGC), is looking to expand its clean energy portfolio by acquiring a significant majority stake in Ayana Renewable Power Pvt. Ltd. ONGC has made a non-binding offer for Ayana, which is open to selling up to 100% of its stake, valued at approximately $800 million.

Other companies, including Sembcorp Industries Ltd, Macquarie Group, and JSW Neo Energy, have also expressed interest in Ayana. The renewable energy company currently has a portfolio of 5-gigawatt projects, both operational and under construction, across several Indian states. Ayana plans to double this capacity to 10GW by the end of 2025. (Read the full story here.)

Sensex Today Live : Barring FMCG, Pharma, Healthcare and Auto, all other sectoral indices were trading in the green.

The IT and Realty indices were the top sectoral gainers.

Sensex Today Live : The broader market was in the green, with the BSE SmallCap index gaining 0.81%, and the BSE MidCap index climbing 0.80%. 

Sensex Today Live : Half of the 50 stocks on the Nifty 50 were in the red. Maruti Suzuki India, Shriram Finance, Bajaj Auto, Divi’s Laboratories, and Cipla, were the top drags, while Bharti Airtel, Infosys, HCLTech, Tech Mahindra and LTIMindtree, were the top gainers. 

Sensex Today Live : More than half the stocks on the 30-stock BSE Sensex were trading in the red. Maruti Suzuki India, Power Grid Corp., Tata Motors, Nestle India, and Sun Pharma, were the top drags, while Bharti Airtel, HCLTech, Tech Mahindra, Infosys, and Wipro, were the top gainers. 

Sensex Today Live : Indian benchmark indices were trading in the green on Thursday, tracking global peers which were buoyant on the back of colder than expected inflation reading in the US.

At 10 am, Sensex was up 170.8 points, or 0.23%, at 73,157.24 and Nifty was up 40.75 points, or 0.18%, at 22,241.30.

Sensex Today Live : Brookfield India Real Estate Trust (REIT) has announced the acquisition of four Grade A assets from Bharti Enterprises. The deal, valued at an enterprise value of ₹6,000 crore, includes 3.3 million square feet of premium commercial properties.

The equity consideration for the 50% stake will be facilitated through preferential allotments of units in Brookfield India REIT, priced at ₹300 per unit. Post-allotment, Bharti Enterprises will emerge as the second-largest unitholder in Brookfield India REIT, holding an 8.53% stake.

The acquired properties comprise the operational Worldmark assets at Aerocity in New Delhi, a mixed-use property spanning 1.4 million square feet, the Airtel Center – a state-of-the-art corporate facility of 7 lakh square feet in North Gurugram, and Worldmark Gurugram, another mixed-use asset covering over 7 lakh square feet. This strategic acquisition marks a significant expansion of Brookfield India REIT’s portfolio.

Sensex Today Live : PFC reported a 25% increase in net profit for FY24 to ₹26,461 crore from ₹21,179 crore in FY23.

Sensex Today Live : “The underperformance of the Indian market during the last one month is striking. While the S&P 500 is up by 5.08% and Euro Stoxx 50 is up by 3.74%, Nifty is almost flat with only 0.24% gain. More important is the huge outperformance of Chinese stocks with a stunning gain of 17.38% in Hang Seng. It is this outperformance of China that is causing the sustained selling by FIIs in India.

India’s underperformance is likely to change soon with clarity on election results. DIIs, HNIs and retail can turn aggressive buyers lifting the market sharply. FIIs can’t afford to miss this potential rally. The only risk is political instability after elections which appears a very low probability event now.

Meanwhile the global market construct continues to be supportive with the US indices setting new records. The decline in US CPI inflation in April to 3.4% sets the stage for a rate cut by the Fed.”

–Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

Sensex Today Live : The company reported a 12% YoY increase in revenue to ₹950.7 crore and a 32.3% YoY increase in net profit to ₹148.2 crore.

Sensex Today Live : The company reported a 31% YoY increase in revenue to ₹3,540.6 crore, and an 86.2% YoY decrease in net profit to ₹114.2 crore. The board recommended a final dividend of ₹1.5 per share.

Sensex Today Live : The company reported a 25.2% YoY increase in net profit at ₹239.2 crore for Q4FY24. The company’s revenue from operations increased 31% to ₹6,485 crore.

Sensex Today Live : The company reported a 30% YoY fall in consolidated net profit to ₹501 crore in the March quarter due to compromised margins amid falling nickel prices and increasing shipping costs. The company’s consolidated net revenue stood at ₹9,454 crore, a 3% YoY fall.

Sensex Today Live : The company reported a 64% YoY increase in net profit at ₹79 crore Q4FY24. The company’s revenue from operations increased 8% to ₹1,052.4 crore. The board has recommended a dividend of 40% at ₹0.80 per equity share of ₹2 each for FY24.

Sensex Today Live : Indian benchmark indices jumped at open on Thursday, tracking global peers which were buoyant on the back of colder than expected inflation reading in the US.

At opening bell, Sensex was up 351.21 points, or 0.48%, at 73,338.24 and Nifty was up 94.60 points, or 0.43%, at 22,295.15.

BankNifty, after the short pullback witnessed, has found resistance near the 47,950 zone to end the session near the significant 50EMA level of the 47,700 zone. The important support level for the index is maintained near the 47,200 zone, which is also where the important 100-period MA lies. Bankex witnessed a range-bound session maintaining above the 50 DMA level of the 54,100 zone, which would be crucial. A decisive breach above the 54,700 zone of the important 20 DMA level is necessary to improve the bias and expect further rise in the coming days. BankNifty would have a daily range of 47,200–48,200 levels, with Bankex support at 54,100 and resistance at 54,900 levels.

–Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher

Sensex Today Live : Nifty halted the pullback rally near 22,300 zone and ended the session near the significant 50EMA level of 22,220 zone with bias maintained positive and would need a decisive breach above the 22,300 levels to continue with the positive upward movement and expect for next targets of 22,550-22,600 levels. The support would be maintained near 22,000 zone as of now which needs to be sustained. Sensex has trading in INSIDE BAR pattern and needs a decisive breakout above the 50 DMA level of 73,500 to trigger and establish for a fresh further upward directional move. The support for the day is seen at 72,600/22,100 levels while the resistance is seen near 73,500/22,350 levels.

–Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher

Sensex Today Live : Indian benchmark indices jumped at pre-open on Monday, tracking global peers which were buoyant on the back of colder than expected inflation reading in the US.

Sensex was up 351.21 points, or 0.48%, at 73,338.24 and Nifty was up 118.65 points, or 0.53%, at 22,319.20 during pre-open.

Sensex Today Live : “The latest US April inflation data signals a potential Fed rate cut, igniting optimism among Nifty bulls. With expectations of a rate cut in September, the market anticipates a boost in corporate earnings. Amidst upcoming Q4 results from key players like M&M, HAL, and others, Oberoi Realty stands out with a significant YoY profit surge, propelling it to a record high. As Go Digit IPO garners attention and market sentiment fluctuates, Nifty’s trading range is forecasted between 22,000-22,500, with 22,500 emerging as a crucial resistance. Call writing at 22,500 indicates market sentiment, while preferred trades suggest bullish prospects for Nifty and Bank Nifty. Chart analysis favours stocks like Oberoi Realty, Indian Hotels, and Adani Port, with Oberoi Realty singled out as a strong buy, propelled by momentum.”

–Prashanth Tapse, Senior VP (Research), Mehta Equities

Sensex Today Live : India’s benchmark indices, Sensex and Nifty 50, are projected to start strong on Thursday, influenced by positive signals from global markets. The Gift Nifty trends also suggest a gap-up opening for the Indian index, trading around the 22,380 level, nearly 100 points above the previous close of Nifty futures.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, interprets this pattern as indicating market volatility. While such a pattern typically warns of a potential reversal following a sharp decline, he does not anticipate a significant negative pattern given the recent rebound. He predicts the Nifty’s short-term trend will continue upward, with some consolidation or minor market dip expected before further upward movement. (Read the full story here.)

Sensex Today Live : The domestic stock market is poised for a positive opening on Thursday, mirroring gains in global counterparts. Asian markets are performing well, and the US market closed at an all-time high due to a lower-than-anticipated rise in US consumer inflation, fueling expectations of US Federal Reserve interest rate cuts.

However, on Wednesday, India’s benchmark indices ended a three-day winning streak with a slight dip. The Sensex fell by 117.58 points (0.16%) to close at 72,987.03, while the Nifty 50 dropped 17.30 points (0.08%) to settle at 22,200.55.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, attributed the market pressure to persistent selling by Foreign Institutional Investors (FIIs) and elevated levels of India Vix. He anticipates the market to stabilize within a wider range as election polling continues and the earnings season approaches its conclusion. (Read the full story here.)

Sensex Today Live : Indian shares are set to open higher on Thursday, tracking a rally in global equities after a softer-than-expected U.S. consumer inflation print raised expectations of at least two interest rate cuts in 2024.

The Gift Nifty was trading at 22,386.50 as of 8:19 a.m. IST, indicating that the Nifty 50 will open above Wednesday’s close of 22,200.55.

Asian stock markets rallied on Thursday, buoyed by Wall Street’s surge to all-time peaks overnight after a milder U.S. inflation report raised expectations the Federal Reserve will deliver at least two rate cuts this year.

The dollar remained on a downtrend, sagging to fresh multi-week lows against peers including the euro and sterling.

U.S. Treasury yields extended their retreat in Tokyo trading, sinking to new six-week troughs. That helped the beaten-down yen to continue its recovery, even as data showed the Japanese economy contracted more than expected in the first quarter.

Gold marched back toward record levels, and crude oil added to gains after rebounding strongly overnight from a two-month trough.

U.S. data on Wednesday showed the consumer price index (CPI) rose by 0.3% in April, below an expected 0.4% gain, raising hopes that the Federal Reserve can cut interest rates twice this year.

Fed funds futures show 52 basis points of cuts this year, with one in September now fully priced.

The data provided palpable relief to markets after higher-than-expected U.S. consumer prices in the first quarter had led to a sharp paring of rate cut bets, and even stoked some worries of an additional hike.

“The expression of relief ripples through risky assets, with markets coming alive the moment we saw U.S. core CPI,” Chris Weston, head of research at Pepperstone, wrote in a report.

“All in all, after three months of troubling price pressures, this is a report that will sit well with (Fed Chair) Jay Powell and co.”

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.44%. Hong Kong’s Hang Seng advanced 0.9%, while Australia’s stock benchmark rallied 1.5%.

Japan’s Nikkei initially jumped as much as 1.3% but pared those gains to be up 0.6% amid pressure from some disappointing late earnings on the final day of the reporting season on Wednesday, and jitters over the sharp rally for the yen.

Japan’s currency was a standout on Thursday, outpacing gains against the dollar among major peers.

The dollar was last down 0.63% at 153.91 yen, from as high as 156.55 in the previous session.

The 10-year U.S. Treasury yield, which the dollar-yen pair tends to track, slipped to 4.705% for the first time since April 5.

The dollar index, which measures the currency against the yen, euro, sterling and three other rivals, weakened 0.07% to a five-week low of 104.12.

The euro rose to $1.08925, the highest since March 21, and sterling reached $1.2697 for the first time since April 10.

Also benefitting from broad dollar weakness, leading cryptocurrency bitcoin marked a fresh three-week top at $66,694.89 following Wednesday’s more than 7% advance.

“It’s hard to go past the move in crypto,” said Pepperstone’s Weston.

“The 23 April swing high of $67,252 is the near-term target and the level to watch,” he added. “A break here and we will likely see traders chasing this move for a push into 70k.”

Gold gained 0.39% to $2,395.39, pushing toward the all-time peak of $2,431.29 from April 12.

Brent futures rose 42 cents, or 0.5%, to $83.17 a barrel, while U.S. West Texas Intermediate crude (WTI) gained 43 cents, or 0.6%, to $79.06, adding to Wednesday’s strong gains.