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Wipro Q4 Results, Rising Treasury Yield, and Top Cues in Focus Today
Thu, 26 Apr Pre-Open | Monish Vora, TM Team

Share markets in India closed marginally lower yesterday. Gains were largely seen in the IT sector and telecom sector.

At the closing bell yesterday, the BSE Sensex stood lower by 115 points (down 0.3%) and the NSE Nifty closed down by 44 points (down 0.4%). The BSE Mid Cap index was down 0.5%, while the BSE Small Cap index was down by 0.7%.

Top Stocks in Focus Today

From the telecom sector, Bharti Airtel share price will be in focus today as the company yesterday approved merger of its listed tower arm with privately held Indus Towers Ltd. to create the largest telecom infrastructure company outside China.

From the automobile space, Tata Motors share price will be in focus today as the company's erstwhile partner Volkswagen AG has signaled it isn't shutting the door on a tie-up with the Indian automaker.

From the cement sector, market participants will be tracking UltraTech Cement share price today as the company reported a 29% year-on-year (YoY) fall in its standalone net profits for the March quarter of FY18.

Dr Reddy's share price will also be in focus today as it was yesterday reported that the company has received an establishment inspection report (EIR) from the US health regulator after audit of its UK facility.

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Wipro Q4 Results: Net Profit Falls 21% YoY

From the IT sector, Wipro share price will be in focus today as the company yesterday announced its fourth quarter results for the FY18.

The company's consolidated net profit fell 21% YoY during the quarter stood at Rs 18 billion as against Rs 22.6 bn during the corresponding quarter last year.

Revenue from operations for the quarter stood at Rs 137.6 bn against Rs 139.8 bn in the March quarter of FY17.

During the quarter under review, the company signed a definitive agreement to divest its hosted data centre services business to Ensono Holdings and its affiliates Ensano Group. The sale is expected during the quarter ended June 30, 2018.

Yield on 10-Year Treasury Note Climbed to 3%

The yield on the 10-year Treasury note, which helps set rates for auto loans, mortgages and other lending, rose one basis point to 2.99%, after breaking the 3% level for this first time 2014.

For Americans, this means higher borrowing costs. For Wall Street, it's a warning that higher interest rates may eat into corporate profits and that faster inflation is coming. Both of which could eventually hurt the economy.

Apart from this, market participants also worry that the Republican tax cuts for businesses and individuals will cause the economy to grow too quickly.

As per the reports, the Federal Reserve is expected to raise short-term interest rates at least twice more this year and three times in 2019, in an effort to tap the economy's brakes. That will probably lead to even higher rates on longer-term Treasuries.

Also note that the difference in yields between short-term bonds and the 10-year note is narrowing, a phenomenon known as a flattening yield curve.

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Stock Market Updates

Sensex Ends 441 Points Lower; Nifty Settles Below 15,000-Mark (Today's Market)

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Indian share markets end lower with the Sensex down by 441 points and the Nifty ending down by 143 points.

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Mar 5, 2021 03:30 PM

GRINDWELL NORTON share price is trading down by 5% and its current market price is Rs 950. The BSE CAPITAL GOODS is down by 1.5%. The top gainers in the BSE CAPITAL GOODS Index are V GUARD INDUSTRIES (up 3.3%) and AIA ENGINEERING (up 0.3%). The top losers is GRINDWELL NORTON (down 5.1%).

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Mar 5, 2021 03:28 PM

ADITYA BIRLA CAPITAL share price is trading down by 5% and its current market price is Rs 131. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 7.3%) and MOTILAL OSWAL (up 5.9%). The top losers are ADITYA BIRLA CAPITAL (down 5.0%) and APOLLO HOSPITALS (down 5.2%).

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HAVELLS INDIA share price is trading down by 5% and its current market price is Rs 1,163. The BSE CONSUMER DURABLES is down by 0.7%. The top gainers in the BSE CONSUMER DURABLES Index are BLUE STAR (up 1.7%) and CROMPTON GREAVES CONSUMER ELEC. (up 1.3%). The top losers is HAVELLS INDIA (down 5.1%).

BALMER LAWRIE Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:18 PM

BALMER LAWRIE share price is trading down by 5% and its current market price is Rs 148. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.8%) and MOTILAL OSWAL (up 6.1%). The top losers are BALMER LAWRIE (down 5.0%) and APOLLO HOSPITALS (down 5.5%).

TRENT Share Price Down by 5%; BSE 500 Index Down 1.3% (Today's Market)

Mar 5, 2021 03:16 PM

TRENT share price is trading down by 5% and its current market price is Rs 936. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.6%) and MOTILAL OSWAL (up 6.1%). The top losers are TRENT (down 5.4%) and APOLLO HOSPITALS (down 5.5%).

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