Indices trade with tiny gains; European mkt opens lower

The key equity indices traded with small gains in afternoon trade. The Nifty traded above the 22,650 mark. Metal, realty and private bank stocks advanced while media, PSU Bank and FMCG stocks declined.

At 13:27 IST, the barometer index, the S&P BSE Sensex, gained 58.88 points or 0.07% to 74,794.04. The Nifty 50 index rose 10.05 points or 0.04% to 22,676.35.

The Nifty 50 and Nifty Bank clocked an all-time high of 22,768.40 and 48,960.75, respectively in morning trade. Further, the S&P BSE Sensex index also registered a fresh record high at 75,124.28 in early trade.

In the broader market, the S&P BSE Mid-Cap index declined 0.29% and the S&P BSE Small-Cap index shed 0.14%.

The market breadth was negative. On the BSE, 1,599 shares rose and 2,141 shares fell. A total of 119 shares were unchanged.

Gainers & Losers:

Apollo Hospitals Enterprise (up 3.31%), Hindalco Industries (up 2.33%), ICICI Bank (up 2.29%) Infosys (up 1.31%) and Grasim Industries (up 0.88%) major Nifty gainers.

Coal India (down 1.96%), Tech Mahindra (down 1.51%), Shriram Finance (down 1.38%), Hero Motocorp (down 1.31%) and Titan Company (down 1.28%) were major Nifty losers.

Stocks in Spotlight:

Paisalo Digital jumped 4.87% after the NBFC informed that its board is scheduled to meet on Friday, 12 April 2024 to approve allotment of non-convertible debentures (NCDs) through private placement basis.

Omaxe rallied 4.41% after the wholly owned subsidiary and special purpose company (SPC) of Omaxe, Worldstreet Sports Center, will be developing an international cricket and football stadium, an indoor stadium along with a retail and hospitality hub spread across an area of 50.40 acres in Delhi's Dwarka area for around Rs 1500 crore.

Sula Vineyards advanced 1.57% after the company announced that it has recorded highest ever Q4 net revenues, overall as well as for own brands and the wine tourism business.

Sterlite Technologies surged 11% after the companys board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 119 per share.

Ajmera Realty & Infra rallied 2.60% after the companys sales value stood at Rs 287 crore in Q4 FY24, registering a growth of 104% as compared with Rs 140 crore posted in Q4 FY23.

Global Markets:

European stocks traded lower while most of the Asian stocks advanced on Tuesday as investors awaited U.S. inflation numbers to assess the Federal Reserves rate cut path.

Japans consumer confidence index increased marginally to 39.5 in March as compared with 39.0 in February 2024.

US stocks remained largely range bound on Monday, with investors awaiting the consumer price index report out on Wednesday.

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