Stock Market Highlights: Sensex ends 456 points lower after a choppy session

Stock Market Highlights on Tuesday, April 16: Exide Industries, Titagarh Wagons, GE Shipping, Cochin Shipyard, Radico Khaitan and GSPL were among the top smallcap gainers

8:50 AM

Market Lens :: Key levels for Nifty, Bank Nifty

8:46 AM

NCLAT to hear IDBI Bank, Axis Finance plea on Zee-Sony merger on May 17

Meanwhile, Senior Advocate Arun Kathpalia, appearing for Zee Entertainment Enterprises Limited (ZEEL), said the NCLAT case was an appeal against the sanction to the Zee-Sony merger, while the one in NCLT dealt with the implementation of the merger. READ MORE

8:44 AM

HDFC MF divests 2% stake in VST Industries shares for Rs 122 crore

HDFC Mutual Fund on Monday sold a 2 per cent stake in VST Industries for Rs 122 crore through open market transactions. According to the bulk deal data available with the BSE, HDFC Mutual Fund sold a total of 3,30,811 shares, amounting to a 2.14 per cent stake in VST Industries. READ MORE

8:41 AM

Stocks to Watch today: Jio Financial, Cipla, Vi, Brigade, Vedanta, Aster DM

Results today: Crisil, Den Networks, Integra Essential, Lotus Choclate and SG Mart to announce Q4 earnings today. Angel One, Hathway Cable, ICICI Lombard General Insurance, Just Dial and Tata Communications to report results on Wednesday.
 

Jio Financial: The Mukesh Ambani led company plan to venture into the stockbroking and wealth management business through an equal joint venture (JV) with US-based BlackRock. Earlier, the two had entered into an agreement for Mutual Fund JV, they awaiting Sebi’s approval for a licence. READ MORE

8:38 AM

Nifty Bank, Nifty Financial Services charts signal downtrend in near-term

Given this scenario, the recommended trading strategy would be to sell on rallies. The indication of a negative trend is further supported by the MACD indicator, which is trending downwards. This adds credence to the bearish outlook for the near term, signaling that downward momentum may persist. READ MORE

8:34 AM

ALERT :: Sell-off in Gift Nifty deepens

>> Index sinks over 200 points at 22,135

8:30 AM

ALERT :: Japan's Yen hits a fresh three-decade low of 154

>> Japanese Finance Minister Shunichi Suzuki said on Tuesday he was closely watching currency moves and will provide a "thorough response as needed" after the dollar surged to a fresh 34-year high.

>> The dollar hovered around 154.15 yen after breaching the 154 yen level in Asia late Monday, the highest since June 1990.
 

>> In a press conference, Suzuki said he was not aware that foreign exchange will be explicitly addressed at the G20 finance minister meeting in Washington this week, but the subject would be brought up as a topic of conversation.

Source: Reuters

8:27 AM

Record bond-sale spree fuels profits for Goldman, Citi, JPMorgan

>> Banks are getting an earnings boost from underwriting fees as companies sell debt in the US at a record pace.

 

>> The issuance spree helped to generate $699 million of debt-underwriting revenue for Goldman Sachs Group Inc. in the first quarter, a nearly 40% jump from a year earlier, contributing to its stronger-than-expected earnings.

>> Citigroup’s profits – released on Friday (Apr 12) – were fuelled in part by the surge in corporate borrowing.

>> JPMorgan Chase & Co’s investment-banking fees jumped 21 per cent, while Wells Fargo & Co’s revenue topped estimates due to an increase in investment advisory fees and brokerage commissions.

>> The pace of debt sales quickened this year as the market dialled back expectations for interest-rate cuts from the Federal Reserve, giving corporations a strong incentive to tap the market in case the presidential election sows uncertainty in markets. 
 

>> Companies borrowed a record US$573.7 billion so far this year to Friday, according to data compiled by Bloomberg. 

Source: Bloomberg

8:24 AM

ALERT :: Israeli military pledges response to Iran attack amid calls for restraint

>> Israel's military chief said on Monday his country would respond to Iran's weekend missile and drone attack amid calls for restraint by allies anxious to avoid an escalation of conflict in the Middle East.

>> Prime Minister Benjamin Netanyahu summoned his war cabinet for the second time in less than 24 hours to weigh how to react to Iran's first-ever direct attack on Israel, a government source said.
 

>> Israel's military Chief of Staff Herzi Halevi said the country would respond, but provided no details.

Source: Reuters

8:21 AM

ALERT :: Hong Kong regulators approve launch of spot bitcoin and ether ETFs

>> Hong Kong regulators on Monday approved the launch of spot Bitcoin and Ether exchange-traded funds (ETFs), asset managers said.

>> Three ETF providers have been approved by Hong Kong's Securities and Futures Commission (SFC).

>> While these asset managers have received the green light for the ETFs, they have not yet launched them.

 

>> Crypto trading is effectively banned in mainland China after a massive crackdown on the sector in 2021.

 

>> However, Hong Kong has slowly been trying to make itself a regulated crypto hub to compete with places like Dubai and Singapore.

Source: CNBC

8:18 AM

ALERT :: China' Q1 GDP grows at 5.3%

>> China’s economy in the first quarter grew faster than expected, official data released Tuesday by China’s National Bureau of Statistics showed.

 

>> Gross domestic product in the January to March period grew 5.3% compared to a year ago, faster than the 4.6% growth expected by economists polled by Reuters, and compared to the 5.2% expansion in the fourth quarter of 2023.

 

>> On a quarter-on-quarter basis, China's GDP grew 1.6% in the first quarter

 

>> Beijing has set a 2024 growth target of around 5%.

Source: CNBC

8:15 AM

Crypto universe :: Bitcoin falls over 1%, Ether up

8:12 AM

Commodity Check :: Gold, Silver extend rally amid safety rush

8:09 AM

Commodity Check :: Oil prices extend gains, Brent up 0.7%

8:06 AM

US Futures :: Index futures remain in red zone