The benchmark Sensex and Nifty indices are poised to start the day on a negative note, as indicated by trends in the GIFT Nifty, suggesting a lower opening with a loss of 168.50 points. Yesterday, the Indian equity market witnessed a second consecutive day of losses, driven by widespread selling amid concerns over the Israel-Iran crisis and anticipation of March quarter results.
Closing at 73,399.78, down 845.12 points, or 1.14 percent, the Sensex, and the Nifty at 22,272.50, down 246.90 points, or 1.10 percent, extended their losses. The pivot point calculator suggests immediate support levels for the Nifty 50 at 22,256, 22,216, and 22,152, with resistance expected at 22,288, 22,424, and 22,488.
In today’s trade setup, the US markets closed lower on Monday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite declining amid rising Treasury yields and geopolitical tensions between Israel and Iran. Asian markets also saw declines amid awaiting Israel’s response to Iran’s recent actions.
In notable corporate developments, Life Insurance Corporation increased its stake in Hindustan Unilever from 4.99 percent to 5.01 percent. Additionally, Cipla announced the acquisition of Ivia Beaute’s cosmetics and personal care business for Rs 130 crore.
US retail sales surpassed expectations in March, rising by 0.7 percent to $709.6 billion, defying predictions of weaker consumer demand. Meanwhile, the dollar index reached its highest level since November, impacting currencies like the Japanese yen, which hit a 34-year low against the dollar. Gold prices slipped, while crude oil prices rose amid heightened Middle East tensions following Israel’s response to Iran’s recent attacks.
Foreign institutional investors (FIIs) net sold shares worth Rs 3,268 crore, while domestic institutional investors (DIIs) bought shares worth Rs 4,762.93 crore on April 15. On the NSE, Bandhan Bank, Exide Industries, and Zee Entertainment Enterprises were added to the F&O ban list for April 16, while Vodafone Idea was removed.
