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Sensex Today Trades Lower | Nifty Below 22,150 | Vodafone Idea Falls 3%, TCS 2%
Tue, 16 Apr 10:30 am

Sensex Today Trades Lower | Nifty Below 22,150 | Vodafone Idea Falls 3%, TCS 2%

Asian markets extended decline and traded lower on Tuesday ahead of key economic data from China and as geopolitical tension intensified in the Middle East.

Japan's Nikkei 225 plunged 1.5%, while the Topix declined 1.04%. South Korea's Kospi dropped 1.31% and the Kosdaq fell 0.86%.

US stock market indices ended sharply lower on Monday amid a jump in Treasury yields and concerns over rising geopolitical tensions between Iran and Israel.

Here's a table showing how US stocks performed on Monday:

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet156.33-2.86-1.80%160.83156.15161.7103.27
Apple172.69-3.86-2.19%176.63172.5199.62162.8
Meta500.23-11.67-2.28%518.53497.28531.49207.13
Tesla161.48-9.57-5.59%170.69161.38299.29152.37
Netflix607.15-15.68-2.52%630.17603.87639315.62
Amazon183.62-2.51-1.35%188.69183189.77101.15
Microsoft413.64-8.26-1.96%426.82413.43430.82275.37
Dow Jones37735.11-248.13-0.65%38386.8137657.7939889.0532327.2
Nasdaq17706.83-296.65-1.65%18152.0817676.3518464.712724.24
Source: Equitymaster

At present, the BSE Sensex is trading 320 points lower and NSE Nifty is trading 82 points lower.

Eicher Motors, ONGC and BPCL are among the top gainers today.

Bajaj Finserv, Bajaj Finance and Infosy the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on positive note. The BSE Midcap index is trading 0.2% lower and the BSE Small Cap index are trading 0.7% lower.

Sectoral indices are trading mixed, with socks in power sector, energy sector and oil & gas sector witnessed buying. Meanwhile stocks in realty sector and IT sector witnessed selling pressure.

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The rupee is trading at Rs 83.5 against the US dollar.

In commodity markets, gold prices are trading 0.7% higher at Rs 72,844 per 10 grams today.

Meanwhile, silver prices are trading 0.3% higher at Rs 84,164 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, Co-head of Research at Equitymaster, Rahul Shahin the latest video explores how different investor mindsets can lead to varying valuations of the same stock, using Exide Industries as an example.

It also highlights the importance of having a clear exit strategy.

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Vodafone Idea FPO Subscription

Vodafone Idea expects its Rs 180 bn follow-on public offer (FPO) to have a maximum subscription with the share of anchor investors being fully subscribed, proceeds of which will be crucial for launching 5G for its future growth and competitiveness in the Indian telecoms sector.

As India's No. 3 telecom carrier began the roadshow for what it is considered the largest-ever FPO, Vodafone Idea chief executive Akshay Moondra said the company will roll out 5G services in six-nine months following the offer, and that it will expedite 5G equipment orders with vendors with which it has conducted trials.

The telco is aiming to offer 5G within 24-30 months to the geographies that contribute 40% of its revenues. The carrier remains the only private company to not have 5G services on offer, unlike Airtel and Reliance Jio, and it has concentrated its attention towards 17 priority circles that account for 98% of its revenue, and 92% of the industry's revenue.

For more details, check out Why Vodafone Idea Share Price is Falling.

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Cipla Strengthens Beauty Play

Cipla Health Limited (CHL), the wholly owned subsidiary and consumer healthcare arm of Cipla, has signed a business transfer agreement (BTA) for the purchase of the distribution and marketing business undertaking of cosmetics and personal care business of Ivia Beaute Private, India, including IVIA's brands namely Astaberry, Ikin, and Bhimsaini on a worldwide basis. Financial details of the deal were not disclosed.

This strategic move is aligned with Cipla's focus on enhancing its consumer healthcare and wellness portfolio.

Building on its strong presence through a cluster of brands in Tier 2-6 towns, CHL is strengthening its play in the fast-growing beauty and personal care sector, catering to the aspirational consumers of India.

The transfer of undertaking business is subject to the completion of certain conditions mentioned in the BTA. Under the completion of such conditions, CHL shall initiate the distribution and marketing of the products.

Cipla Health is strengthening its play in the fast-growing beauty and personal care sector, catering to the aspirational Indian consumer.

With a brand legacy of over 16 years, Astaberry caters to consumers through a wide range of products to help them address their skincare needs. These brands complement Cipla's offerings in the skin care segment.

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Indigo Fuel Crisis

An IndiGo flight from Ayodhya to Delhi on Saturday, 13 April, reportedly had a close shave after it was forced to divert to Chandigarh due to low fuel levels, according to a passenger.

The incident has raised safety concerns, with passengers and a retired pilot alleging that IndiGo may have breached Standard Operating Procedures (SOPs).

Deputy Commissioner of Police (Crime) Satish Kumar, who shared his harrowing experience on social media, stated that the flight (6E2702) was scheduled to depart Ayodhya at 3:25 pm and arrive in Delhi at 4:30 pm.

However, just about 15 minutes before the scheduled landing, the pilot announced that due to bad weather in Delhi, they wouldn't be able to land there. The aircraft circled the city and tried to land twice, but both attempts were unsuccessful.

Kumar further stated that the pilot informed passengers at 4:15 pm that they had 45 minutes of holding fuel.

Yet, after two unsuccessful landing attempts and what he described as a wasted amount of time deciding the next course of action, the pilot finally announced at 5:30 pm, 75 minutes later, that they would divert to Chandigarh.

The plane finally managed to land at Chandigarh Airport at 6:10 PM, 115 minutes after the announcement about having 45 minutes of holding fuel. Got to know after landing that we landed in the nick of time, with only 1 or 2 minutes of fuel left.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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


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