Stock Market Live Updates: Sensex, Nifty trade flat; IndusInd Bank rises 2% post Q4 show; Ipca Labs hits ... - Economic Times

10:53 AM

Multinational FMCG major Nestle India on Tuesday announced that its March quarter profit rose 24.7% year-on-year (YoY) to Rs 737 crore while total sales jumped 21.3% to Rs 4,808 crore.The bottomline came in higher than an ET Now poll estimate of Rs 588 crore.

I am pleased to share that we have continued to deliver robust sales growth this quarter, which is broad based with a healthy balance ofpricing, volume, and mix. This is the highest growth for the Company in a quarter in the last 10 years (excluding the exceptional quarter in 2016 which was off a low base in 2015). Yet again, I would single out the outstanding diligence, commitment and seizing every opportunity in the marketplace by our employees, partners, distributors, and stakeholders. Teamwork has triumphed once again!

– Mr. Suresh Narayanan, Chairman and Managing Director, Nestlé India

10:29 AM

India bond yields rise on profit booking after benchmark hits 1-year low

Indian government bond yields were up after dropping in the early part of the session on Tuesday, with traders booking profit as the benchmark yield hit its lowest level in a year on persistent bullish sentiment.

The 10-year benchmark 7.26% 2033 bond yield was at 7.1169% as of 10:00 a.m. IST, after ending at 7.0977% in the previous session. Earlier in the day, it had dipped to 7.0742%, the lowest level since April 27, 2022.

Momentum was being carried over on Tuesday as well, but since yields are near crucial levels, buyers’ appetite has been tested, and there is some reversal in one-way trading, a trader with a private bank said.

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09:35 AM

Market View | Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The important question in the near-term is whether the current rally can sustain. The answer will depend largely on global cues since the market needs support from global markets, particularly from the mother market US. This week is hugely important for the US since many big tech US companies will be reporting results this week. More important, US inflation and GDP data are expected this week and that will give an indication of the Fed decision on rates next week.

So, watch out for these big numbers. If the news from US is positive, that will embolden the bulls to take this rally forward. If the reverse is true, FIIs can again turn sellers dragging the market down. Bank Nifty continues to be strong. Results of mid-cap IT companies are better than their large-cap counterparts.

08:14 AM

Asian stocks waver, dollar softens as investors weigh earnings, data

Stocks fell broadly, while the U.S. dollar also weakened early on Tuesday, as investors weigh corporate earnings and economic growth outlooks in a busy week.

07:45 AM

Quarterly earnings today

Bajaj Auto, Nestle India, Tata Consumer Products, and HDFC AMC will be in focus today as the companies will announce their fourth quarter results.

07:45 AM

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 30.5 points, or 0.17 per cent, higher at 17,789.50, signaling that Dalal Street was headed for positive start on Tuesday.

07:45 AM

Tech View: Nifty charts showing signs of upside breakout

Indicating support-based buying, Nifty today formed a small positive candle with a long lower shadow on the daily charts. Now it needs to hold above 17717 zones to witness an up move towards 17777 and 17850 zones, while on the downside, supports are placed at 17620 and 17550 marks, said Chandan Taparia of Motilal Oswal.

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07:44 AM

Tokyo stocks open higher

Tokyo stocks opened higher Tuesday after a mixed close on Wall Street as investors awaited corporate earnings reports in Japan and the United States.The benchmark Nikkei 225 index was up 0.63 percent, or 179.69 points, at 28,773.21 in early trade, while the broader Topix index added 0.69 percent, or 14.12 points, to 2,051.46.

07:44 AM

Nasdaq underperforms on worries about tech earnings ahead

The Nasdaq closed lower on Monday, underperforming the S&P 500 and the Dow, with pressure from high-profile megacaps as investors awaited results from companies including Microsoft while Tesla shares fell on concerns about its spending plans.

07:44 AM

Rupee gains 14 paise to close at 81.92 against US dollar

The rupee appreciated 14 paise to close at 81.92 against the US dollar on Monday as a firm trend in domestic equities and weak dollar boosted investor sentiments. However, selling pressure from foreign institutional investors may weigh on the rupee at higher levels.

07:44 AM

Oil prices ease as investors weigh China demand, rate hikes

Oil prices slipped in early trade on Tuesday, paring gains from the previous session, as investors weighed strong holiday travel in China that could boost fuel demand with the prospect of rising interest rates elsewhere slowing economic growth.

07:44 AM