Stock Market Updates: Sensex Dips Over 150 pts, Nifty Tests 18,250; Adani Transmission Down 5%

 


Sensex and Nifty started on a tepid note on Friday ahead of the April consumer inflation and March IIP data, slated to be released today.

Sensex Today: Benchmark indices Sensex and Nifty on a tepid note on Friday ahead of the April consumer inflation and March IIP data, slated to be released after market hours. The BSE Sensex fell 190 points to 61,717, and the NSE Nifty50 slipped 55 points to 18,242.

Also Read– Stocks to Watch: Adani Group, Asian Paints, Eicher Motors, RIL, Airtel

Asian Paints, Tata Steel, L&T, HCL Tech, Sun Pharma, HDFC led losses on the Sensex, while Divi’s Lab, Hindalco and JSW Steel were the top Nifty losers.

On the flip side, Tata Motors, Titan, M&M, Maruti, Eicher Motors, Hero Moto were the among the few frontline gainers.

The broader markets were mixed. The BSE MidCap index was flat but the SmallCap pocket outperformed the benchmarks and rose 0.25 per cent

Also Read– What to do if your Mutual Fund SIP has given less than Fixed Deposit return in 1 year?

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “Even though the momentum is with the bulls the market is likely to remain subdued till there is clarity on two important issues. The US debt ceiling impasse is a short-term threat to the market even though the market believes that the issue will be sorted out just before the deadline. The Karnataka poll outcome can impact the market if the results surprise with either a big win for the Congress or the BJP contrary to the broad exit poll results. A decisive trend in the market will emerge only after clarity on these two issues.”

“The outperformance of the broader market is significant and this is supported by good Q4 results. Latest mutual fund data shows that an increasing amount of mutual fund inflows is moving towards small caps. This can support the rally in the broader market,” he added.

Read More:– EXCLUSIVE | I-T raids Mankind Pharma’s New Delhi offices, say sources; shares 8% off peak

Global cues

Asian markets were mixed this morning with Nikkei, Hang Seng rising 0.8 and 0.14 per cent, respectively. Strait times and Kospi fell up to 0.8 per cent.

Overnight in the US, the S&P 500 fell 0.17 per cent, the Dow shed 0.66 per cent dragged by Disney shares and the Nasdaq added 0.18 per cent.

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the Corona ep
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the Incom
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5% TDS on amounts exceedi
Read more