Sensex Today Live Updates : Asian stocks advanced, as the focus shifted from Middle East tensions to company earnings and economic data for insight into the direction of central bank policy.
Shares in Hong Kong outperformed with the benchmark gaining more than 2%. Gauges across the region recouped some of last week’s slide as traders took comfort in the absence of further escalation from Iran following Israel’s retaliatory strike.
Mainland Chinese shares opened mixed as the country’s lenders kept the loan prime rates steady. Most Asian chip stocks slumped after Nvidia tumbled 10%, the most in four years. Contracts for US equities edged higher after the Nasdaq 100 Index ended Friday with a 2.1% loss.
The dollar was weaker and the yield on 10-year US Treasury yields advanced as haven demand let up slightly. Investors over the world are recalibrating their positions after stronger-than-expected US data forced the Federal Reserve to reset the clock on its first interest rate cut.
US growth and the Fed’s preferred measure of inflation are due this week, which will help finesse bets on timing of any rate cuts. Investors must also absorb a hefty slate of Treasuries auctions.
Profits for the seven biggest growth companies in the S&P 500 — Apple Inc., Microsoft Corp., Alphabet Inc., Amazon.com Inc., Nvidia, Meta Platforms Inc. and Tesla Inc. — are on course to surge 38% in the first quarter, according to Bloomberg Intelligence. When excluding them, the rest of the benchmark index’s profits are anticipated to shrink by 3.9%.
Meanwhile, the limited Israeli strike on Iran and the muted response from the Iranian leadership potentially provide an opportunity for the conflict between the long-term adversaries to scale back, for now, according to RBC Capital Markets.
Oil fell after its first back-to-back weekly decline this year as traders weighed the potential next steps from Iran and Israel. Gold slipped.
Elsewhere this week, inflation readings in Australia and Malaysia are due. Bank Indonesia will give a policy decision just as the currency comes under pressure, while earnings at global growth bellwether Caterpillar are due.
Sensex Today Live : Opening Bell
Sensex Today Live : Indian benchmark indices opened in the green on Monday, as investors’ shifted focus from the easing tensions between Israel and Iran to the company earnings.
At opening bell, Sensex was up 344.29 points, or 0.47%, at 73,432.62, and Nifty was up 150.75 points, or 0.68%, at 22,297.75.
Sensex Today Live : Benchmark indices green at pre-open
Sensex Today Live : Indian benchmark indices were green at pre-open on Monday, as focus shifted from the easing tensions between Israel and Iran to the company earnings.
Sensex was up 582.99 points, or 0.80%, at 73,671.32, and Nifty was up 189.90 points, or 0.86%, at 22,336.90 during pre-open.
Sensex Today Live : UAE’s International Holding wants a majority stake in Vedanta’s Zambian mines
Sensex Today Live : The mining investment division of Abu Dhabi’s most prestigious firm has proposed to acquire a controlling interest in Vedanta Resources’ Zambian copper properties, according to two sources privy to the situation. This move is part of their ambition to establish a copper mining stronghold in Africa.
Recently, the International Holding Company’s subsidiary made a bid exceeding $1 billion to purchase a 51% share in Konkola Copper Mines (KCM), owned by Indian tycoon Anil Agarwal’s Vedanta, as per the sources.
The subsidiary, International Resources Holding (IRH), is swiftly expanding its emerging copper mining operations in Zambia. This follows their acquisition of a 51% stake in Mopani Copper Mines in a transaction valued at $1.1 billion. Last month, IRH announced its intention to bid for a stake in Lubambe Copper Mine, currently owned by EMR Capital and up for sale.
This flurry of deals is part of a broader initiative by the oil-rich nations of the United Arab Emirates (UAE) and Saudi Arabia to secure essential metal resources from Africa. This strategy could also facilitate their involvement in the shift towards green energy.
Sensex Today Live : What to expect from Indian stock market in trade on April 22
Sensex Today Live : The Indian equity indices, Sensex and Nifty 50, are anticipated to commence Monday’s trading session on a positive note, mirroring the upward trend in Asian markets despite varied global indicators. The Gift Nifty trends also suggest a gap-up opening for the Indian benchmark index, trading around the 22,240 level, nearly 110 points premium from the previous close of Nifty futures.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, noted that the current chart pattern indicates a formation of a bullish piercing line type candle pattern, signaling a short-term bottom reversal for the market. The Nifty maintained support around 21,750 levels, close to the previous swing low of March 20th, suggesting a potential double bottom type formation. After breaking below the lower end of the channel at 22,000 levels, the Nifty regained the lost ground and closed above that support on Friday. (Read the full story here.)
Sensex Today Live : Eight key things that changed for market over weekend – Gift Nifty, China data to HDFC Bank Q4 results
Sensex Today Live : The Indian equity indices, Sensex and Nifty 50, are projected to commence trading on a positive note on Monday, influenced by the upward trend in Asian markets despite mixed global indicators. Last week, while Asian markets experienced a surge, the US stock market concluded on a lower note due to geopolitical tensions inducing risk-aversion.
This week, the focus will be on China’s loan prime rates and new data from Japan and South Korea. On the previous Friday, the Indian stock market indices broke a four-day losing streak and closed with substantial gains. The Sensex surged by 599.34 points or 0.83%, closing at 73,088.33, while the Nifty 50 increased by 151.15 points or 0.69%, settling at 22,147.00.
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, stated that the markets are expected to experience volatility within a wider range due to contrasting cues. Negative factors include the escalation of geopolitical tension in the Middle East, hawkish comments from the US Fed, and selling by Foreign Institutional Investors (FIIs), which are causing investor unease. On the other hand, the anticipation of robust earnings from index heavyweights and buying at lower levels demonstrate market strength. The primary focus this week will be on the earnings season and global cues. (Read the full story here.)
Sensex Today Live Updates : Asian markets, Gift Nifty firm, indicating gap-up open for Indian markets
Sensex Today Live Updates : Markets in India were likely to open on a positive note as focus shifted from the easing tensions between Israel and Iran to the company earnings.
Benchmark indices were also likely to open in the green, with the Gift Nifty trading at 22,273 at 8:30 am, more than 100 points ahead of Nifty 50’s Friday close of 22,147.
The Nasdaq and the S&P 500 closed sharply lower on Friday and Treasury yields dipped as investors juggled lackluster earnings, uncertainties surrounding central bank policy and geopolitical strife.
Gold and crude oil prices advanced as market participants kept an uneasy eye on unfolding turmoil in the Middle East.
The Dow was the lone gainer among the three major U.S. equity indexes, while the Nasdaq, weighed down by megacap tech and tech-related momentum stocks, slid 2.05%.
The session marked six straight daily declines for the S&P 500 and the Nasdaq, the longest losing streak since October 2022.
The S&P 500 and the Dow registered their steepest weekly percentage losses since March 2023, while the Nasdaq saw its largest weekly drop since November 2022.
Mounting tensions in the Middle East appeared to plateau after Tehran downplayed Israel’s retaliatory drone strike against Iran, a move that seemed geared toward averting regional escalation.
While first-quarter reporting season is still in its early stages, expectations have dimmed. Analysts now see aggregate S&P 500 earnings growth of 2.9% year-on-year, down from the 5.1% estimate on April 1, according to LSEG.
Chicago Federal Reserve President Austan Goolsbee said on Friday that the Fed’s restrictive policy is “appropriate” given economic strength and the slower-than-expected process of bringing inflation down closer to its 2% target.
The Dow Jones Industrial Average rose 211.02 points, or 0.56%, to 37,986.4, the S&P 500 lost 43.89 points, or 0.88%, to 4,967.23 and the Nasdaq Composite dropped 319.49 points, or 2.05%, to 15,282.01.
European shares touched their lowest level in more than a month but closed well off their intraday trough as anxieties over strife in the Middle East eased and solid earnings provided some support.
The pan-European STOXX 600 index lost 0.08% and MSCI’s gauge of stocks across the globe shed 0.84%.
Emerging market stocks lost 1.30%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 1.61% lower, while Japan’s Nikkei lost 2.66%.
Crude oil prices dipped earlier as supply concerns eased. U.S. crude rose 0.50% to settle at $83.14 per barrel, while Brent settled at $87.29 per barrel, up 0.21% on the day.
Gold advanced, putting the safe-haven metal on track for its fifth straight weekly gain. Spot gold added 0.4% to $2,386.49 an ounce.
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