GIFT Nifty Opening Update
GIFT Nifty opened today at 23,399.50. It is up 31.50 points (0.13%) from yesterday’s close of 23,423.00— so the trend is positive.
Benchmark indices, namely Sensex and Nifty 50, continued their decline for a fourth consecutive session on Tuesday, May 12, influenced by a blend of global market signals. The 30-share Sensex experienced a decline of 1,566 points, equivalent to 2%, reaching an intraday low of 74,449, while the Nifty 50 similarly fell by 2%, hitting a low of 23,348 for the day. By the close, the Sensex had settled 1,456 points, or 1.92%, lower at 74,559.24, while the Nifty 50 declined 436 points, or 1.83%, to finish at 23,379.55. However, the market is poised to end its losing streak as trends in the Gift Nifty index indicated a flat opening on Wednesday. Gift Nifty was positioned around the 23,444 level, reflecting an increase of more than 21.50 points compared to the prior close of Nifty futures.
“After two consecutive heavy selloff sessions, Indian markets are likely to witness a relatively flat start today, with Gift Nifty opening near the 23,391 zone. However, despite indications of a stable opening, overall sentiment continues to remain fragile as global risk factors and elevated volatility keep traders cautious,” said Hariprasad K. With the market indicating a negative opening, certain stocks are expected to attract attention on Monday owing to their individual positive or negative catalysts.
In light of current circumstances, the following are the ten stocks that are expected to capture attention on Wednesday, 13 May –
Equities to Monitor:
- Bharti Airtel, Tata Motors, TVS Motor Company, Hindustan Petroleum Corporation, Oil India, and Cipla are set to capture attention as these companies announce their Q4 results today.
- Vodafone Idea announced that its board is set to convene on May 16 to evaluate the company’s fourth-quarter earnings and deliberate on a fundraising proposal. The board is set to evaluate the potential of raising capital via the preferential issuance of equity shares or warrants.
- Tata Power reported a 4.5% year-on-year decrease in its fourth-quarter earnings, with net profit falling to Rs 996 crore from Rs 1,043 crore in the previous year.
- Torrent Power reported a significant decrease in fourth-quarter net profit, which fell by 70% year-on-year to Rs 318.2 crore, down from Rs 1,060 crore in the corresponding period of the previous year.
- Nazara Technologies reported a notable increase in its fourth-quarter net profit, which escalated to Rs 55.7 crore from Rs 4.1 crore in the same period last year.
- Dr Reddy’s giant experienced a significant decline in its fourth-quarter earnings, with net profit plummeting 86.2% year-on-year to Rs 220 crore, in contrast to Rs 1,587.3 crore during the corresponding period last year.
- Dixon Technologies reported fourth-quarter revenue amounting to Rs 10,510 crore. EBITDA was recorded at Rs 408.4 crore, exceeding the consensus estimate of Rs 372 crore, with the margin reported at 3.9%, above the anticipated 3.6%.
- Rail Vikas Nigam has attained the lowest bidder (L1) status for an EPC contract worth Rs 221.3 crore from the South East Central Railway.
- PNC Infratech announced that it has entered into a settlement agreement with the National Highways Authority of India, which includes a one-time settlement amount of Rs 234.99 crore as part of the Government of India’s ‘Vivad Se Vishwas II (contractual disputes)’ scheme.
- United Breweries announced that the Maharashtra Sales Tax Tribunal has nullified a tax demand order previously set at Rs 275 crore.