APAC markets remained in mixed territory amid Japan’s stock markets being closed for a public holiday. South Korea’s Kospi inched 0.70 per cent higher at 2,677.50. Hang Sang inched 1.50 per cent higher at 17,913.00.
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Share Market Highlights: After starting the May series in red territory, Indian equity indices rallied on Monday (April 29) on the back of banking and financial services shares. Both Nifty PSU Bank and Nifty Private Bank indices led the rally today by advancing over 2 per cent after healthy Q4 bank earnings, reported last weekend.
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ICICI Bank remained the top intraday performer during today’s session while Nifty PSU Index best sectoral index. Shares of banking heavyweight ICICI Bank have advanced 48.50 points, or 4.38 per cent higher at 1,156.40 apiece on NSE. Similarly, Nifty PSU Bank inched 189.00 points, or 2.56 per cent higher at 7,569.05 after several constituents reported a rally in prices.
The strength in financial stocks arrives after better-than-expected ICICI Bank Q4 results, which have beaten D-Street estimates. The bank’s market capitalisation has now crossed Rs 8 lakh crore.
Aided by strong loan growth, ICICI Bank has reported a 17.4 per cent growth in its standalone profit after tax (PAT) at Rs 10,707.53 crore for the March quarter (Q4) of 2024 against Rs 9,121.87 crore in the same period of last year. Total income of the bank rose to Rs 43,597 crore for Q4 as against Rs 42,791.64 crore a year ago. The board has proposed a dividend of Rs 10 per share for the year.
In the currency market, the Indian rupee declined 10 paise to close at 83.48 against the US dollar as investors remained cautious ahead of the US Federal Reserve’s monetary policy decision. The Indian rupee had five paise weaker at 83.43 against US dollar.
Earlier on Friday, the rupee had declined 10 paise to close at 83.38 against the US dollar. Dollar index futures, which measures strength of American currency against a basket of six global peers, are up 0.06 per cent at 105.87. Several analysts have attributed the strengthening US dollar to the positive global trends amid firm growth in the world’s largest economy.
Brent crude futures fell 53 cents, or 0.59 per cent, to $88.94 a barrel while West Texas Intermediate (WTI) futures were down 25 cents, or 0.31 per cent, to $83.59 a barrel. Read less
APAC markets remained in mixed territory amid Japan’s stock markets being closed for a public holiday. South Korea’s Kospi inched 0.70 per cent higher at 2,677.50. Hang Sang inched 1.50 per cent higher at 17,913.00.
Stock Market Live: Sensex, Nifty close 1% higher
Share Market Live: Sensex inched 937.88 points, or 1.27 per cent higher at 74,668.04 while Nifty advanced 223.45 points, or 1.00 per cent higher at 22,643.40.
Stock Market Live: ICICI Bank remains top intraday performer, Nifty PSU Index best sector
Share Market Live: Shares of banking heavyweight ICICI Bank have advanced 49.85 points, or 4.43 per cent higher at 1,156.65 apiece on NSE.
Similarly, Nifty PSU Bank inched 181.65 points, or 2.49 per cent higher at 7,565.05 after several constituents reported a rally in prices.
Stock Market Live: Healthcare tech firm Indegene IPO to open on May 6
Share Market Live: Indegene Ltd, a healthcare tech firm focused on the global life sciences industry, on Monday said it has fixed the price band at Rs 430 to Rs 452 per share for its Rs 1,842-crore initial share-sale offer that opens for public subscription on May 6.
The initial public offering (IPO) will conclude on May 8. The bidding for anchor investors will open for a day on May 3, the company announced.
The company's IPO comprises a fresh issue of equity shares worth up to Rs 760 crore and an Offer For Sale (OFS) of up to 2.34 crore equity shares aggregating Rs 1,082 crore, at the higher end of the price band, by selling shareholders. This takes the total IPO size to 1,842 crore.
Stock Market Live: Nifty Bank soars 1000 pts higher
Share Market Live: Nifty Bank has continued its rally on the back of better-than-expected results.
The index is up 1,130 points, or 2.34 per cent higher at 49,336.40.
Top gainers:
> ICICI Bank, 4.82 per cent up at 1,161.35
> AU Small Finance, 3.78 per cent higher at 622.50
> SBI, 3.45 per cent higher at 828.95
> Axis Bank, 2.67 per cent higher at 1,1260.45
Stock Market Live: Sebi comes out with new directive on regulatory fee for BSE
Share Market Live: Leading stock exchange BSE is expected to shell out more regulatory fee after the markets watchdog Sebi asked the bourse to pay the fee based on the “notional value” of its options contracts rather than on the premium value.
Reacting to the development, shares of BSE have slumped as much as 18.64 per cent to an intra-day low of Rs 2,612.0 on the NSE on Monday.
Market experts expect an increase in the BSE’s regulatory fee payments to Sebi due to the significant variance between the notional and premium values. This discrepancy arises from the calculation method, which involves multiplying the contract size by the underlying price.
-From PTI
Stock Market Live: Check top gainers and losers
Share Market Live: IndusInd Bank, Tech Mahindra, Maruti, Sun Pharma, Reliance Industries and Tata Steel were the other major gainers.
On the other hand, HCL Technologies, Mahindra & Mahindra, ITC and Power Grid were the laggards.
Stock Market Live: Tata Motors ties up with South Indian Bank for commercial vehicle finance
Share Market Live: Tata Motors on Monday said it has tied up with South Indian Bank to offer financing solutions to its commercial vehicle customers and dealerships.
As part of the Memorandum of Understanding (MoU), South Indian Bank will offer financing solutions across the auto major's entire commercial vehicle portfolio, Tata Motors said in a statement.
"For our customers, easy access to financing solutions for their commercial vehicles is one of the key priorities for their operations. Our alliance aims to empower fleet owners and dealerships to achieve their business goals," Rajesh Kaul, Tata Motors Commercial Vehicles Vice President & Business Head Trucks, said.
Stock Market Live: Gold, Silver price dip marginally
Share Market Live: Prices of precious metals slipped during early hours of trade on Monday (April 29). MCX gold futures for June expiry is down 0.23 per cent for 10 gram to 71,337.00 while MCX silver futures for July contract is down 82,288.00 for 1 kg.
As per the Goodsreturn website, the price of gold stands at Rs 6,655 per gram for 22 karat gold and Rs 7,260 per gram for 24 karat gold (also called 999 gold).
Stock Market Live: ICICI Bank rally 2% after above expectation results
Share Market Live: Shares of ICICI Bank on Monday climbed over 2 per cent after the company's March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions.
The stock advanced 2.51 per cent to its 52-week high of Rs 1,135 on the BSE. On the NSE, it climbed 2.44 per cent to hit the 52-week high of Rs 1,135.
On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period.
For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
-From PTI
Stock Market Live: HCL Tech reports March quarter earnings
Share Market Live: The company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spending around the world.
The company described the performance as "decent" in view of the global macroeconomic conditions. The company posted a consolidated net profit of Rs 3,986 crore in the fourth quarter of FY24 as against Rs 3,983 crore in the same period last year.
Sequentially, the company's profit declined 8.4 per cent from Rs 4,350 crore in the October-December period, the company said in a filing on Friday.
Stock Market Live: HCL Tech shares tumble over 6% after March quarter earnings
Share Market Live: Shares of HCL Technologies on Monday tanked over 6 per cent after the company reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore.
The stock declined 6.10 per cent to Rs 1,382.45 on the BSE. On the NSE, it tanked 6.22 per cent to Rs 1,382.10.
The stock emerged as the biggest laggard among the BSE Sensex and NSE Nifty firms.
The company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world.
Stock Market Live: Tesla clears key regulatory hurdles for self-driving in China as Musk visits
Share Market Live: Tesla has cleared some key regulatory hurdles that have long hindered it from rolling out its self-driving software in China, paving the way for a favourable result from Elon Musk's surprise visit to the U.S. automaker's second largest market.
Tesla CEO Musk arrived in the Chinese capital on Sunday where he was expected to discuss the rollout of Full Self-Driving (FSD) software and permission to transfer driving data overseas, according to a person with knowledge of the matter.
-From Reuters
Stock Market Live: Check top gainers and losers
Share Market Live: IndusInd Bank, Tech Mahindra, Maruti, Sun Pharma, Reliance Industries and Tata Steel were the other major gainers.
On the other hand, HCL Technologies, Mahindra & Mahindra, ITC and Power Grid were the laggards.
Stock Market Live: Brent, WTI crude prices witness downward movement
Share Market Live: Brent crude futures fell 83 cents, or 0.93 per cent, to $88.67 a barrel while West Texas Intermediate (WTI) futures were down 67 cents, or 0.80 per cent, to $83.18 a barrel.
Stock Market Live: Financial Services index up after above expectation ICICI Bank results
Share Market Live: Aided by strong loan growth, ICICI Bank has reported a 17.4 per cent growth in its standalone profit after tax (PAT) at Rs 10,707.53 crore for the March quarter (Q4) of 2024 against Rs 9,121.87 crore in the same period of last year.
Total income of the bank rose to Rs 43,597 crore for Q4 as against Rs 42,791.64 crore a year ago.
The board has proposed a dividend of Rs 10 per share for the year.
Stock Market Live: Financial Services index up nearly 1% after Q4 results
Share Market Live: The gains in markets today are supported by financials after post-results gains in SBI Life Insurance and ICICI Bank. The high-weightage financial services index rose 0.7 per cent. Twelve of the 13 major sectors logged gains.
Stock Market Live: Rupee opens higher against US dollar
Share Market Live: The Indian rupee opens five paise weaker at 83.39 against the US dollar vs Friday’s close of 83.34.
Stock Market Live: Sensex, Nifty open higher
Share Market Live: BSE Sensex opened 252.50 points, or 0.34 per cent higher at 73,982.80 while Nifty inched 55.50 points, or 0.25 per cent higher at 22,475.50.