Market Live Updates 16th April – IT Stocks in Red!

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Shares of Infosys Ltd and HCL Technologies Ltd fall!

The Results of March Quater have raised demand concerns for the Software Industry. Also, the shares of Infosys Ltd and HCL Technologies Ltd have fallen by 2.5%. There is a decline of 4-6% in the Tech Mahindra Ltd and Hexaware Ltd stocks. Shares of TATA Consultancy are flat.

 

Oil Companies at a loss due to lower oil prices.

Oil prices have sharply declined in the March Quarter. Consequently, State-run oil producers Oil and Natural Gas Corp. Ltd and Oil India Ltd are under stress.

 

Market Updates(Latest)

After an Intra-day low of 30,016.17 points, Sensex has jumped back the losses and increased over 500 points. Nifty has reclaimed the 9,000 marks by the addition of 74 points. Nifty IT has declined by 2%.

 

Reduction in ATF prices

Jet fuel (ATF) prices have reduced by more than ₹6,000/kL.

 

A rise of 4% in Indudsland Bank

After Goldman Sachs picked up shares worth over ₹176 crores in the bank, its scrip has increased by 4%.

Infosys, Kotak Bank, and TCS pulled down the Sensex by 100 points.

 

Apollo Tyres rise by 9%

Even though the four plants are suspended till 20 April, there is an increase in the industry by 9%.

 

The Indian rupee tanked to an all-time low

The rupee has tanked to an all-time low of 76.80 against the US Dollar o Thursday, the reason being the weak equities and steep rise in COVID-19 cases.

 

TCS to announce quarter results on Thursday

After the rival company, WIPRO announced a 6% YoY fall on Wednesday, TCS is expected to release its results on Thursday.

Significant contracts have been assigned to L&T Heavy Engineering.

 

A rise of 4% in Eveready Industries

The company has continued its partial battery production and operations after seeking permission from the authorities.

 

Spurge of 9.6% in Punjab and Sind Bank

On Wednesday, the state-owned Punjab and Sind Bank announced that it would rise to ₹1500 crore through equities & special issues of shares. 

 

India’s COVID-19 curve steeper than those of Singapore, Indonesia, Japan

The number of COVID-19 cases has reached 12000+. The most significant cities are Mumbai, Indore, Jaipur, Ahmedabad, and Pune.

 

A rise of 3.2% in Navin Fluorine International

The production in the company is resumed after gaining significant permissions from the authorities in Gujrat.

 

Other significant updates in the Market:

  1. TATA Steel down by 1%.
  2. A rise of 4.2% in Motherson Sumi Systems
  3. A decline of 3.2% in BSE IT
  4. Biocon Biologics has been approved for the two products by the US FDA.
  5. A fall of 3% in Wipro Earnings
  6. Nifty slipped by 74 points.
  7. TCS, the largest IT provider in the country, is down by 1.37%
  8. India Equity Benchmarks slips into the red in the pre-opening session.
  9. West Texas Intermediate crude increased 60 cents a barrel, and Brent crude grew 80 cents to a barrel.
  10. Most Asian stocks have fallen with the US Equity.
  11. Japan’s Topix index slipped 0.9%.
  12. South Korea’s Kospi suffered 0.3%.
  13. Australia’s S&P/ASX 200 Index declined 1.1%.
  14. Shanghai Composite combined 0.1%.
  15. Hang Seng Index sank 0.7%.
  16. US Stocks dropped on Wednesday.
  17. Paytm witnessed a 15% increase in overall payment transactions last month.
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Alongside her graduation, she is pursuing her passion for content writing. She is young, raw, and continuously thriving for the best. Her hobbies include debates and travelling. Despite these nerdy things, she also likes to netflix and chill.

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