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India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
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- Indian Stock Market News April 26, 2022
SGX Nifty Up 108 Points, Big Blow to FMCG Companies, the Latest on LIC IPO, and Buzzing Stocks Today Tue, 26 Apr Pre-Open
On Monday, Indian share markets plunged tracking weak global cues as Wall Street indices and Asian markets fell on anxiety over higher interest rates.
At the closing bell on Monday, the BSE Sensex plunged 617 points and ended 1.1% lower.
Meanwhile, the NSE Nifty dropped 218 points, ending below the 17,000 level.
ICICI Bank and HDFC twins were among the top gainers.
Tata Steel, Tech Mahindra and NTPC were among the top losers.
In broader markets, both the BSE Mid Cap index as well as the BSE Small Cap index ended lower by 1.9%.
Barring banking stocks, all sectoral indices ended in red with metal, power, and FMCG stocks witnessing most of the selling.
Shares of Vinati Organics and Swan Energy hit their 52-week high.
At 8:10 am today, the SGX Nifty was trading up by 108 points, or 0.6% higher at 17,100 levels.
Indian share markets are headed for a firm opening today following the trend on SGX Nifty.
Gold prices were trading at Rs 51,903 per 10 grams at the time of Indian market closing hours on Monday.
Speaking of stock markets, in his latest video, Co-head of Research at Equitymaster Rahul Shah tries to understand the probability of Tata Power undergoing a significant crash in the near future.
Is Tata Power's rise justified by fundamentals or too much of expectations have built up into the stock price?
Is the stock in risk of a big crash if the broader markets start turning southwards?
Rahul answers all these questions in the below video. Tune in to know more...
Top Buzzing Stocks Today
FMCG giants like Godrej Consumer Products and Marico will be in focus today.
Indonesia has proposed a ban on palm oil exports starting 28 April.
The ban will cause a sharp increase in edible oil prices which have already been on the boil due to the ongoing Russia - Ukraine crisis.
This ban is set to raise Indian inflation. We are the world's largest importer of edible oil specifically palm oil and soy oil.
Even before the ban, edible oil prices were trading at record prices, nearly 45% higher than their previous highs in 2008 and 2011.
Tata Elxsi and Jindal Steel Power shares will also be in focus today.
These domestic stocks could get added during global index provider MSCI's semi-annual index review next month.
The move could see a churn worth Rs 69 bn by funds tracking the MSCI index.
Market participants will also track shares of Sanofi India and NELCO as these companies will report their March quarter earnings later today.
Tata Motors Partners with Lithium Urban Technologies
Tata Motors announced yesterday, a partnership with an EV based urban transportation service provider, which will deploy 5,000 XPRES T electric sedans, across the country, for employee transportation.
Tata Motors launched the 'XPRES' brand back in July 2021, exclusively for fleet customers.
The new XPRES-T electric sedan comes with 2 range options - 213 kms and 165 kms.
The EV packs a battery of 21.5 kWh and 16.5 kWh and can be charged from 0- 80% in 90 mins and 110 mins, respectively, using fast charging or can also be normally charged from any 15 A plug point.
Tata Motors will commence deliveries in phases and will complete the deployment by next year.
Speaking of the Tata group, Co-head of Research at Equitymaster recorded a video last year discussing whether the group is a genuine wealth creator.
You can watch the video here: Tata Group: A Genuine Wealth Creator.
Indian Bonds Mark Biggest Jump Since 2020!
Yesterday, the yield on the benchmark 10-year bond was down 10 basis points to 7.06%, the biggest decline since September 2020.
The second-most traded 6.67% 2035 bond yield dropped seven basis points.
Government bonds rallied the most in 19 months, as traders rushed to cover short positions amid a drop in oil prices and US Treasury yields.
World oil prices tanked more than 5% on Monday following fears of China's worsening Covid outbreak that could slam demand from the major energy consumer.
Europe's benchmark contract Brent North Sea crude fell as low as US$ 101.2 per barrel and US WTI oil dropped to US$ 96.9.
Campus Activewear IPO Opens for Subscription Today
In news from the IPO space, footwear brand Campus Activewear is all set to open its initial public offering (IPO) today and close on 28 April.
Meanwhile, shares of the company are demanding a premium of Rs 60 per share in the grey market.
The company is looking to raise Rs 14 bn through the public issue of shares. The price band of the IPO is Rs 278 - Rs 292 per share.
The IPO is a complete offer for sale (OFS) of 47.9 bn shares by promoters and shareholders of the company.
Started in 2005, Campus Activewear claims to be India's largest sports and athleisure footwear brand. It manufactures a variety of footwear at affordable prices. Campus Activewear sells its products through both online and offline platforms.
The company has five manufacturing facilities across India with an installed annual capacity for assembly of 25.6 m pairs as of September 2021.
In other news, the mega IPO of the Life Insurance Corporation (LIC) is likely to open on 4 May 2022 and close on 9 May 2022.
The much-anticipated IPO of LIC is finally here where the government aims to offload 3.5% of its holding.
We will keep you updated on the latest developments from this space. Stay tuned.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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