An across-the-board sell-off enveloped markets in the last hour of trade as an unwavering rise in Covid-19 cases and slower-than-expected pace of vaccination worried investors on Dalal Street. Besides, confidence in the markets took a hit after media reports suggested that banks have approached the Reserve Bank of India (RBI) to grant a 3-month moratorium period courtesy slowdown in the economic activity. After starting gap-up and staying range-bound for the better part of the day, the 30-share Sensex index succumbed to bear hammering and dropped approximately 850 points from day s high to touch a low of 48,149. The index then mildly recovered to settle the day at 48,254 levels, down 465 points or 0.95 per cent.
Shriram City Union Finance consolidated net profit rises 99 00% in the March 2021 quarter
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Shriram City Union Finance standalone net profit rises 84 27% in the March 2021 quarter
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: Saturday, May 1, 2021, 8:13 PM IST
Stocks to beat Monday blues: Watch out for stocks of RIL, SBI General Insurance, Ipca Lab, HDFC Bank, SBI, IndusInd Bank, Shriram City Union Finance
Stocks to beat Monday blues: Watch out for stocks of RIL, SBI General Insurance, Ipca Lab, HDFC Bank, SBI, IndusInd Bank, Shriram City Union Finance
On Friday, many heavyweights like Reliance Industries, IndusInd Bank among others reported higher profits in the fourth quarter. So, when the market opens on Monday, it would be interesting to see these stocks and others. Automobile stocks like Mahindra and Mahindra and Maruti Suzuki India reported a drop in unit sales. Thus, auto stocks may be in focus too.
Nifty to tumble over 130 points on weak global cues
April 30, 2021
Spotlight will be on quarterly results and progress of Covid-19 vaccination
Indian markets are expected to open slightly lower on Friday, amidst weak global cues emanated from Asian markets. The SGX Nifty, which currently rules at 14,770 at the Singapore Stock Exchange, indicates at least 130 points gap-down opening for Nifty futures, which on Friday closed at 14,901.
According to analysts, the focus will be on progress in Covid pandemic and corporate results.
Though the US market closed on strong note overnight, Asian markets from Japan, to Korea; and Australia to Taiwan are ruling weak in early trade on Friday, as China’s crackdown on technology firms affected the sentiment. The US market overnight ended firm due to strong GDP data.