Sensex gains 250 pts; Nifty above 14,500; RIL, HDFC Bank lead
Sensex and Nifty opened marginally higher on Tuesday amid mixed global cues. The key indices picked up pace and were moving up led by gains in RIL, Power Grid and HDFC Bank. Globally, investors stuck to the sidelines ahead of a Fed meeting ending Wednesday, where the US central bank is expected to confirm that it will maintain its easy monetary policy to bolster the economy.
Rupee opens flat
Indian rupee opened marginally higher on Tuesday at 74.68 per US dollar vs previous close of 74.72.
Axis Bank down 2% ahead of Q4 earnings
The private sector bank will declare its Q4 results on Tuesday. In Q3, the lender had reported a 36% drop in quarterly profit from a year ago to ₹1,117 crore due to higher provisions for bad loans. Provisions in the quarter-ended 31 March rose 33% to ₹4,604 crore from a year earlier.
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Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments on markets
Nifty is within the resistance patch of 14500-14700. If we are successful in crossing this on a closing basis, we should be headed to 15000. If we are unable to, we will be sideways and then head back to the previous lows of 14200.
Covid update: New cases dip in India but still more than 3 lakh, 2771 deaths in 24 hours
India reported 3.23 lakh fresh coronavirus cases in the last 24 hours.
A total of 3,23,144 new covid-19 cases, 2,771 related deaths, and 2,51,827 recoveries were reported in the last 24 hours, taking the total active cases to 28,82,204, as per the health ministry update on Tuesday morning.
The total count of positive cases now stands at 1,76,36,307, including 1,97,894 deaths and 1,45,56,209 recoveries.
Bank Nifty flat
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Maruti may see robust growth in profit, revenue on low base, volume recovery
Maruti Suzuki India Ltd, the country’s largest car maker, is expected to post double-digit growth in net profit and revenue for the quarter ended March, aided by the low base in the year-ago period and a gradual recovery in vehicle sales on the back of increasing preference for personal mobility amid the coronavirus pandemic.
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Tech Mahindra slips in red after opening 2% higher
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Banks under pressure in opening session, metals outperform
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Markets open a tad higher
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BOJ cuts inflation forecast, warns of soft consumption as pandemic pain lingers
The Bank of Japan on Tuesday cut this fiscal year’s consumer inflation forecast and warned of lingering risks to the economic outlook as the COVID-19 pandemic continues to hurt…
Read More: Sensex gains 250 pts; Nifty above 14,500; RIL, HDFC Bank lead