Buzzing Stocks | RIL, IndusInd Bank, TCS and others that will be in focus today
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The dollar clung to a recent bounce on Monday as investors made a cautious start to a week crammed with central bank meetings and big-ticket U.S. economic data, looking for clues on the outlook for global inflation and for policymakers’ response.
Gainers and Losers on the BSE Sensex:
Market Opens: Indian indices opened on negative note on May 3 with Nifty below 14500 amid weak global cues.
At 09:16 IST, the Sensex was down 604.58 points or 1.24% at 48177.78, and the Nifty was down 171.90 points or 1.17% at 14459.20. About 641 shares have advanced, 826 shares declined, and 82 shares are unchanged.
Indian markets are likely to see a gap down opening on the back of weak global cues and soaring new Covid-19 cases in the country that could derail the economic recovery. However, global news flows and sector specific development will be key monitorables. US markets ended lower amid profit booking.
Kotak Mahindra Bank To Announce Q4 Earnings Today, Could See Double-digit Profit Growth
Prabhudas Lilladher sees 34 percent YoY growth in Kotak Bank’s profit with 23 percent decline in provisions
Market at pre-open: Benchmark indices are trading lower in the pre-opening session amid weak global cues.
At 09:02 IST, the Sensex was down 117.27 points or 0.24% at 48665.09, and the Nifty was down 80.70 points or 0.55% at 14550.40.
Gold prices ticked up on Monday, supported by a muted dollar ahead of a series of U.S. data, while auto-catalyst metal palladium held firm after surpassing $3,000 per ounce on concerns over supply shortage in the previous session.
SBI Life Insurance Q4 results today:
SBI Life Insurance Company is likely to see healthy growth in key earnings parameters with annual premium equivalent (APE) rising around 37 year-on-year (YoY) percent and value of new business (VNB) increasing around 43 percent YoY in the quarter ended March 2021.
“We expect 36.7 percent YoY APE growth in Q4 FY21 on a low base of 13 percent YoY decline in Q4 FY20. We expect 74 percent YoY growth in APE in March 2021 (down 43 percent YoY in March 2020). APE growth was muted at 2 percent YoY in January 2021 but bounced back to 54 percent YoY in February 2021,” said Kotak Institutional Equities which expects 43 percent YoY growth in VNB.
DAILY VOICE | If COVID Situation Prolongs, Nifty FY22 EPS Growth May Fall Short: Deepak Jasani Of HDFC Securities
If the COVID issue gets resolved by say mid-May, then we can still make up for the shortfall in the economic output. However, if this extends beyond May-end, there could be renewed fears on the…
FII and DII data
Foreign institutional investors (FIIs) net sellers of shares worth Rs 3465 crore, while domestic institutional investors (DIIs) net buyers of shares worth Rs 1419 crore in the Indian equity market on April 30, as per provisional data available on the NSE.