Stock Market Updates: Amidst encouraging signals from global peers, equity benchmark indices got off to a solid start on the first trading day of the 2024–25 fiscal year.
At 74,166, the S&P BSE Sensex was up more than 500 points. A test of the 22,500 levels was observed for the NSE Nifty 50. – Stock Market Updates
Among the Sensex 30 shares, Maruti was lower than the early movers Power Grid, Infosys, and Bajaj Finserv.
More inclusive indexes increased to 0.8%.
The main events that will influence market sentiment this coming week are the RBI policy meeting, fund flows, and worldwide market movements.
Because of the monthly sales report, investors will be watching auto company shares on Monday.
Paytm is one of the individual equities that will be under scrutiny due to rumors of “voluntary resignations,” despite the company’s denials of any layoffs. After receiving a GST notice of Rs 23.26 crore from the Karnataka tax authorities, Zomato is expected to attract the attention of investors as well.
The market is moving with momentum and has a positive undertone. Although the market has been consolidating, the Nifty has surged by 322 points during the past two trading days, suggesting that the upward momentum can continue.
Restrictions on redemptions from smallcap schemes have reportedly been implemented by mutual funds. The “frothy” value in this area and the regulator’s concerns are the reasons behind this. Higher money flows into the largecaps as a result of this action could raise the largecaps themselves. Keep an eye out for large-cap stocks in capital goods, autos, financials, and certain pharmaceuticals as they are expected to report strong Q4 results.
At the Reserve Bank of India’s monetary policy meeting on April 3–5, rates are likely to stay unchanged. The market is therefore not expected to be impacted.
Global Markets
After China revealed that its manufacturing activity increased in March for the first time since September, Asian markets were observed to be moving positively. Each of the Hang Seng, Shanghai, and Kospi saw gains of more than 0.5%.
Also Read: Stocks
The latest Personal Consumption Expenditures (PCE) report, which increased by 0.3 percent month over month on Friday, will likely cause the US market to react later tonight. In deals after the market, Dow and Nasdaq futures were up more than 100 points.
