The Indian stock market is expected to open flat as trends on SGX Nifty indicate a muted start for the index in India.
Indian market witnessed a bounce back on Monday which helped Nifty50 to recoup losses made on Friday. The Nifty50 closed above 14,450 levels while the S&P BSE Sensex reclaimed 48000.
The S&P BSE Sensex rallied by over 500 points on Monday to close at 48,386 while the Nifty50 was up 143 points to 14,485.
India VIX moved up by 3.55 percent from 22.69 to 23.49 levels on Monday. India VIX needs to hold below 20 zones to again attract a bullish stance in the market, suggest experts.
According to pivot charts, the key support levels for the Nifty are placed at 14,418.37, followed by 14,351.73. If the index moves up, the key resistance levels to watch out for are 14,554.57 and 14,624.13.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms that could impact Indian as well as international markets:
US Markets
The S&P 500 and Nasdaq closed at record highs on Monday, fueled by Tesla Inc and other heavyweight growth stocks ahead of a deluge of earnings reports this week.
The Dow Jones Industrial Average fell 0.18% to end at 33,981.57 points, while the S&P 500 gained 0.18% to 4,187.62. The Nasdaq Composite climbed 0.87% to 14,138.78.
SGX Nifty
Trends on SGX Nifty indicate a flat opening for the index in India. The Nifty futures were trading at 14,485 on the Singaporean Exchange around 07:25 IST.
Tech Mahindra headcount declines by 4,000 in FY21
IT services firm Tech Mahindra saw its headcount decline by 4,182 even as it looks at double-digit organic growth this fiscal. It reported a 17.4 percent sequential decline in consolidated profit at Rs 1,081.4 crore for the quarter ended March 2021. The profit in the previous quarter was at Rs 1,309.8 crore.
Sebi may not allow brokers to work from home
Amid the raging pandemic, the broker association has sought relaxations in maintaining call recordings of orders or instructions received from clients while working from designated alternative places.
Copper prices hit fresh lifetime high of Rs 754.20 per kg
Copper prices on April 26 surged to Rs 753.50 per kg after touching a new lifetime high of Rs 754.20 during intraday on the MCX. The base metal extended gain after a gap-up opening in the evening session.
Oxford Economics lowers India’s 2021 GDP growth forecast to 10.2%
Global forecasting firm Oxford Economics on Monday revised downwards its India GDP growth forecast for 2021 to 10.2 percent from 11.8 percent previously, citing the country’s escalating health burden, faltering vaccination rate and lack of a convincing government strategy to contain the pandemic.
RBI to conduct customer satisfaction survey on bank mergers
The Reserve Bank of India (RBI) has decided to conduct a customer satisfaction survey to find out the impact of the recent mergers of state-owned banks on banking services being availed by individuals.
28 Companies will declare Q4 results on BSE:
As many as 28 companies on the BSE will declare their results for the March quarter on Tuesday, including names like Axis Bank, Bajaj Finance, HDFC AMC, Maruti Suzuki, TVS Motor Company, and Syngene International.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,111.89 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,022.57 crore in the Indian equity market on April 26, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Three stocks – Indiabulls Housing Finance, SAIL and Sun TV Network – are under the F&O ban for April 27. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
With inputs from Reuters & other agencies.
