- India’s equity markets edged lower in morning trade on Wednesday amid mixed cues in global markets.
- While several sectoral indices were in the red on Wednesday morning, the IT and FMCG indices declined the most.
SGX Nifty , an early indicator of how the markets may perform, was down 0.08% or 15 points early in the morning today.
SGX
While the 30-stock
Top gainers and losers on Nifty50
Source: NSE, as on April 19, 2023
Earlier on Tuesday, Sensex and Nifty50 continued to snap amid selling pressure in energy, FMCG and financial services stocks. Both Sensex and Nifty50 ended 0.3% lower – while Sensex fell 184 points to close at 59,727, Nifty50 fell 47 points to 17,660.
Layoffs could once again gather steam with reports suggesting that US-based consulting giant Ernst & Young, and media behemoth Disney are expected to lay off thousands of employees.
Uncertainty persisted in markets around the world. Benchmark indices in the US ended on a mixed note on Tuesday, with Dow Jones falling 0.03% while S&P 500 gained 0.09%. The tech-heavy Nasdaq ended 0.04% lower.
Markets in Asia were also mixed on Wednesday morning, with KOSPI rising 0.12%, while Shanghai Composite and Taiwan Weighted were both down 0.3%. Nikkei 225 edged 0.24% lower, while Hang Seng was down 0.5%.
State Bank of India: The largest public sector bank has approved long term fundraising of up to $2 billion in debt during FY24. The fundraising will happen in one or multiple tranches through a public offer or private placement of unsecured notes in US dollar or any other convertible currency.
ICICI Lombard General Insurance: The insurer has reported nearly 40% jump in net profit in March quarter at ₹436 crore compared to ₹312 crore last year.
Bank of India: The lender’s board has approved to raise ₹6,500 crore from various means including share sale to fund business growth in FY24.
CRISIL: The rating agency has reported a 20% rise in net profit at ₹145 crore in March quarter as against ₹121 crore during the same quarter last year.
Earnings today: Tata Communications, ICICI Securities, Alok Industries, Citadel Realty and Developers, G G Engineering, Gujarat Hotels among stocks to release their March quarter earnings today.
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