Stock Market Highlights, April 10: Sensex rises 354 pts, Nifty holds 22,750; broader indices outshine

Stock market updates on Wednesday, April 10: Among sectors, the Nifty PSU Bank, FMCG, Media, and Metal indices gained in the range o 1.23 per cent to 1.80 per cent

SI Reporter New Delhi

9:58 AM

Weak demand environment to delay recovery in quick-service restaurants

While competition is intense, growth has seen non-vegetarian options starting to outpace vegetarian. KFC, for example, has an 85 per cent contribution from non-vegetarian. Popeyes, with a launch in South India, is creating a new category in fried chicken. READ MORE

9:43 AM

Comment :: Here's what could keep markets resilient

Robust economic growth, decent corporate earnings, macroeconomic stability, expectations of political stability after elections, sustained capital flows, and retail investor enthusiasm will keep the market resilient despite rich valuations.

A significant recent healthy trend in the market is the outperformance of the fundamentally strong largecaps over the mid and smallcaps. This trend is making the market healthier and, therefore, has the potential to continue. Largecap banking stocks are likely to be the leaders if the rally sustains.

The US CPI data to be published today is significant since that will determine the quantum of rate cuts by the Fed this year. The fact that US inflation has come down by two thirds is significant and positive from the market perspective, but the trajectory of inflation, going forward, will largely influence the direction of stock markets, globally.

Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

9:33 AM

Paisalo Digital gains over 3.5% on 32% YoY rise in AUM

>> The company reported that its Assets Under Management (AUM) saw a 32 per cent growth, reaching Rs 4,622 crore by the end of the March FY24 quarter.

>> In the same period, disbursements rose by 38 per cent to Rs 3,588 crore

9:31 AM

Shyam Metalics advances 3% as it plans Rs 750-cr capex

>> The metals manufacturing firm will set up a new facility for the production of stainless steel hot rolled coils (HRC) at its existing plant in Sambalpur, Odisha with an investment of Rs 650 to Rs 750 crore

9:30 AM

Protean eGov Technologies zooms about 3% as Co to likely launch QIP

>> Reports say the QIP offering is set to include a base issue size of Rs 170 crore along with a green shoe option of Rs 75 crore

9:27 AM

Godrej Properties flat after Gurugram unit of RERA denies project extension

>> The Real Estate Regulatory Authority in Gurugram has denied the extension application for the Godrej Air Phase 4 project, a group housing project being developed by Godrej Properties in Sector 85, Gurugram.