Stock Market News Update: On the first day of this trading week, the Sensex and Nifty started with a decline. The Sensex is trading below 47600 with a fall of nearly 1200 points, while talking about the Nifty 50, it is also seeing a decline. The Nifty 50 is trading around 14,200, down by about 370 points. On Friday, Wall Street closed with gains but on Monday morning it has shown mixed effects on the Asian stock markets. Shanghai Composite is trading with Hang Seng and Kospi Gaines, while the Japanese stock market is trading with a downward trend.
Talking about the day-to-day business, investors will be eyeing stocks like HDFC Bank, Macrotech Developers, Mindtree, ICICI Lombard and PVR today.
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Focus will remain on these stocks
HDFC bank- On Saturday, HDFC Bank announced its quarterly results. Accordingly, there has been an increase in the business and profits of the bank. HDFC Bank’s profit grew 18.2 per cent year-on-year to Rs 8186 crore in the March 2021 quarter. In addition, the gross NPA was 1.32 per cent of the gross advances, which was 1.38 per cent in the December 2020 quarter.
Macrotech Developers- Today is the market debut of macrotech developers. 2500 crore was raised through its IPO and it was subscribed 1.3 times by investors. This is the first IPO of the current financial year.
Mindtree– In the March 2021 quarter, IT company Mindtree saw a tremendous increase in profits.
ICICI Lombard- The company’s profit grew 24 percent in the March 2021 quarter.
PVR- Rating agency CRISIL has upgraded PVR’s long-term and non-convertible debentures rating to AA.
The markets closed with a rise one business day ago
On the morning of 16 April, the domestic stock market rose with a rise amid mixed global signals. However, investors were cautious about the increasing cases of corona virus. At the end of trading, both the Sensex and Nifty indices closed in the green mark. March retail sales figures in the US were good, which led to better sentiments. The 10-year bond yield also decreased. At the end of trading on April 16, the Sensex gained 28 points and closed at 48832. At the same time, the Nifty has been up by 36 points and has closed at the level of 14618. In the business of April 16, there were purchases in IT and pharma stocks, while banks and financial stocks were weak.
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