Market Preview
FRIDAY
26-April-2024
Today’s Market Prediction:
- Indian stock market Would open FLAT
- Technically, Nifty is in the Negative zone- BankNifty is in the Positive zone.
- India VIX up by 4.42 percent to 10.73 levels.
- Bajaj Finance to announce Q4 earnings
- Axis Bank posts Rs 7,130-cr net profit in Q4
- HUL Q4 net profit falls 6% to Rs 2,406 crore
- Tech Mahindra to announce Q4 results
- Vodafone Idea: The equity shares issued in the follow-on public offer (FPO) will be available for trading in a continuous trading session with effect from April 25.
- Indian Bank: The Financial Services Institutions Bureau (FSIB) has recommended Asheesh Pandey for the position of MD and CEO at Indian Bank.
- Mas Financial Services: The financial services company has reported consolidated net profit of Rs 69.4 crore for the January–March period of FY24, rising 23.3 percent over the same period last fiscal.
Stocks in NEWS
Tech Mahindra: The global IT services company has recorded a consolidated net profit of Rs 661 crore for quarter ended March FY24, rising sharply by 29.5 percent over the previous quarter, despite a weak topline, boosted partly by other income.
Bajaj Finance: The leading non-banking finance company has reported a net profit of Rs 3,825 crore for the March FY24 quarter, growing 21 percent over the corresponding period of the last fiscal.
IndusInd Bank: The private sector lender has registered a 15 percent on-year growth in standalone net profit at Rs 2,347 crore for the quarter ended March FY24, driven by lower provisions for bad loans and higher pre-provision operating profit
L&T Technology Services: The engineering services company has recorded net profit at Rs 341.4 crore for January-March quarter of FY24, rising 1.4 percent over previous quarter due to pressure in EBIT margin.
Tata Steel: After seven months of formal and informal national-level discussions with the UK trade unions, Tata Steel has decided that it will proceed with its 1.25-billion-pound investment to build an electric arc furnace in Port Talbot, in South Wales.
Cyient: The engineering and technology solutions company has reported a consolidated net profit of Rs 196.9 crore for quarter ended March FY24, growing 28.5 percent over the previous quarter due to a low base.
Market Indication:
Global: FLAT to NEGATIVE
NIFTY: FLAT to NEGATIVE
BANKNIFTY: FLAT to NEGATIVE
PCR:The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.28 on April 25, from 1.04 levels in the previous session.
BULK Deals: Laxmi Costpin limited, Joyti Structures Ltd etc.
Stocks In F&O Ban Period: Vodafone Idea
Results Today: Maruti Suzuki India, HCL Technologies, Aditya Birla Sun Life AMC, Bajaj Finserv, SBI Life Insurance Company, Shriram Finance, Bajaj Holdings & Investment, CSB Bank, Eveready Industries India, Force Motors, Indiabulls Real Estate, Bank of Maharashtra, Mastek, Motilal Oswal Financial Services, and SBI Cards and Payment Services
FII-DII: FIIs were net sellers of Rs.2823.33 crores whereas DIIs were net buyers of Rs.6167.56 crores in cash market for last trading session.
NIFTY (22570) The support for the Nifty is: 22378-22302-22180 and the Resistance to the up move is at: 22623-22699-22821 levels.
BANKNIFTY (48495): The support for BankNifty is: 47947-47737-47398 and the resistance to the up move is at 48625-48835-49175 levels.
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