Stock Market Today: All You Need To Know Going Into Trade On April 4

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!

<div class="paragraphs"><p>Morning (Photo by <a href=";utm_medium=referral&amp;utm_source=unsplash">Dawid Zawiła</a> on <a href=";utm_medium=referral&amp;utm_source=unsplash">Unsplash</a>)</p></div>
Morning (Photo by Dawid Zawiła on Unsplash)

Recovering sell-offs, share indices in Asia-Pacific region rose on Thursday after the Federal Reserve Chair Jerome Powell indicated rate cuts are imminent this year.

The Nikkei 225 was trading 749.38 points or 1.90% higher at 40,201.23, and the S&P ASX 200 was up 39.00 points or 0.50% up at 7,821.50 as of 06:32 a.m.

Powell said the recent strong inflation report did not "materially" change the broader picture offered for risk assets. However, the central bank will adhere to wait and watch mode before pulling down the borrowing cost, Bloomberg reported.

The S&P 500 Index and Nasdaq Composite rose 0.11% and 0.23%, respectively, as of Wednesday. The Dow Jones Industrial Average fell by 0.11%.

Brent crude was trading 0.24% higher at $89.59 a barrel. Gold gained 0.10% at $2,302.33 an ounce.

The GIFT Nifty was trading 44 points or 0.2% higher at 22,599.00 as of 6:37 a.m.

India's benchmark indices ended little changed amid volatility on Wednesday, ahead of the Fed Chair's speech at the Macroeconomics and Monetary Policy Conference.

The NSE Nifty settled 18.65 points, or 0.083%, lower at 22,434.65, and the S&P BSE Sensex declined 27.09 points, or 0.037%, to end at 73,876.82.

Overseas investors sold stocks worth Rs 2,213.56 crore and domestic institutional investors remained net buyers for the eleventh day and mopped up equities worth Rs 1,102.41 crore, the NSE data showed.

The Indian currency weakened by 5 paise to close at 83.43 against the dollar.

Stock Market Today: All You Need To Know Going Into Trade On April 4
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Stocks to Watch

  • Axis Bank: The Competition Commission has approved the proposed infusion of Rs 1,612 crore by the company in Max Life Insurance.

  • KEC International: The company secured orders worth Rs 816 crore across various businesses.

  • L&T Finance Holdings: The company reported retail loan book at Rs 80,010 crore in the fourth quarter, up 31% YoY and retail disbursements at Rs 15,030 crore, up 33% YoY.

  • Brigade Enterprises: The company signed a joint development agreement with United Oxygen to develop a ‘Grade A’ office space with a leasable area of 3.0 lakh square feet and the project has a gross development value of around Rs 340 crore.

  • Avenue Supermart: The company’s standalone revenue from operations stood at Rs 12,393.5 crore, up 19.9% YoY for the fourth quarter. The total number of stores was 365 as of March 31.

  • Vodafone Idea: The board will meet on April 6 to consider share issuance proposals of equity and/or convertible shares on a preferential basis.

  • Vedanta: Vedanta Aluminium has expanded its alumina refining capacity to 3.5 million tonne per annum.

  • Suryoday Small Finance Bank: The company reported disbursements at Rs 2,340 crore, up 39% YoY in the fourth quarter, gross advances at Rs 8,650 crore, up 41% YoY and total deposits at Rs 7,775 crore, up 50% YoY.

  • RBL Bank: The company reported total deposits at Rs 1.03 lakh crore, up 22% YoY as of March 31 and gross advances at Rs 85,640 crore, up 5% YoY.

  • GE Power: The company received orders worth Rs 774.9 crore from Jaiprakash Power.

  • Thomas Cook: The company has inaugurated a new branch in Bhuj, Gujarat, to capitalise on the strong and growing demand from Gujarat.

  • Punjab and Sindh Bank: Arnab Goswamy has been appointed as Chief Financial Officer for a period of 3 years from the date of his joining.

  • Electronics Mart India: The company has commenced the commercial operations of a new multi-brand specialised store under the brand name ‘AUDIO and BEYOND’ on April 3.

  • Royal Orchid Hotels: The company’s arm signed an agreement(s) with Masa Hotels for running and operating HOTEL MASA, which has 300 keys, a restaurant, a bar, banquet halls and meeting rooms.

  • Gufic Biosciences: Incorporated a wholly owned subsidiary, “VEIRA LIFE FZE,” in Dubai for the marketing, distribution, and sale of pharmaceutical products.

  • Cyient DLM: Ram Dornala ceases to be the chief operating officer of the company effective today.

  • Veranda Learning Solutions: The company's stake has increased to 51% in Tapasya Educational Institutions.

PFC Pays Record Rs 2,033 Crore In Interim Dividend To Government

IPO Offering

  • Bharti Hexacom: The public issue was subscribed to 0.34 times on day 1. The bids were led by institutional investors (0.29 times), non-institutional investors (0.36 times), and retail investors (0.48 times).

Bharti Hexacom IPO Subscribed 34% On Day 1

Bulk Deals

  • Medi Assist Healthcare Services: Edelweiss Broking sold 4.82 lakh shares (0.7%) at Rs 500.02 apiece.

  • Edelweiss Financial Services: CLSA Global Markets PTE bought 2.72 crore shares (2.88%) at Rs 69.16 apiece, while The Pabrai Investment Fund IV LP sold 272.08 lakh shares (2.88%) at Rs 69.15 apiece.

  • On Mobile Global: Anshul Saigal bought 5.32 lakh shares (0.5%) at Rs 75.15 apiece.

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Pledge Share Details

  • Chambal Fertilizers and Chemicals: Promoter revoked the pledge of 17.15 lakh shares on March 30.

Who’s Meeting Whom

  • Capital Small Finance Bank: To meet analysts and investors on April. 9.

  • Hindustan Foods: To meet analysts and investors on April 12.

  • Tips Industries: To meet analysts and investors on April 8.

  • HDFC Asset Management Company: To meet analysts and investors on April 19.

GE Power Bags 2 Orders Worth Rs 775 Crore From Jaiprakash Power Venture

Trading Tweaks

  • Price Band changes from 10% to 5%: HLV.

  • Price Band changes from 5% to 20%: Shipping Corporation of India Land and Assets.

  • Ex/record stock split: Cupid

  • Ex/record bonus: Cupid

  • Ex/record dividend: Sundaram Clayton, Varun Beverages.

  • Moved into short-term ASM framework: Technocraft Industries (India).

  • Moved out of short-term ASM framework: Manoj Vaibhav Gems N Jewellers.

Union Bank Raises $500 Million From Overseas Market

F&O Cues

  • Nifty April futures down by 0.14% to 22,546.8 at a premium of 112.15 points.

  • Nifty April futures open interest up by 2.42%.

  • Nifty Bank April futures up by 0.08% to 47,931.1 at a premium of 306.85 points.

  • Nifty Bank April futures open interest up by 6.2%.

  • Nifty Options April 4 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 22,000.

  • Bank Nifty Options April 10 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 47,500.

  • Securities in ban period: Hindustan Copper, Sail, Zee Entertainment Enterprise.

Indian Oil In Talks With State Nuclear Firm For Small Reactors
Stock Market Today: All You Need To Know Going Into Trade On April 4

Money Market Update

The Indian currency weakened by 5 paise to close at 83.43 against the U.S. Dollar.

Research Reports

Aster DM Healthcare Concludes Separation Of India, Gulf Businesses