The markets after a long weekend opened in red with Sensex at 59,900.21, down by 530.79 points and Nifty dropped by 110.80 points at 17,717.20. Power Grid, Kotak Bank, Nestle, ICICI Bank and IndusInd Bank were the top gainers on Monday whereas SBI, Tata Motors, NTPC, HDFC, TCS and HCL Tech were the top losers.
The stocks of Angel One, Hathway Cable and Datacom, Just Dial, Network18 Media and Investment, Quick Heal Technologies and TV18 Broadcast will be in focus as the companies are announcing the results for the last quarter today.
Market on Thursday
The markets on Thursday extended its winning run for the ninth consecutive session with BSE Sensex at 60,431, up by 38.23 points and Nifty up by 15.60 points at 17,828. Due to weakness in the information technology stocks post the disappointing numbers from TCS the markets opened in red but later recovered and closed flat.
The top gainers on Thursday included IndusInd Bank, Eicher Motors, HDFC Life, Power Grid Corp, Apollo Hospitals, whereas Tech Mahindra, Infosys, NTPC and TCS were among the losers.
Asian markets on Monday were on edge due to earnings season and China data. NFT Futures on the Singaporean exchange on Monday was trading at 17,789.50, down by 81.5 points.
Wall Street on Friday was down as the mixed economic data confirmed another Federal Reserve interest rate hike. Dow Jones Industrial Average dipped 143.22 points to 33,886.47 and the S&P 500 dropped 8.58 points to 4,137.64 with the Nasdaq Composite down at 12,123.47.
Oil prices on Monday went up on Monday as investors are waiting for signs of a demand recovery in China as it will be releasing its economic data this week. Brent crude futures went up 17 cents to $86.48 a barrel and US West Texas Intermediate crude went up 14 cents to $82.66 a barrel.
Indian rupee opened at 81.89 dollar against Thursday's close of 81.85.
The market will today react to the quarterly results of HDFC Bank and Infosys. HDFC Bank reported a 91.8 per cent growth in standalone profit at Rs 12,047.5 crore in the quarter ending in March 2023. On the other hand Infosys reported consolidated net profit at Rs 6,128 crore with a 7.8 per cent growth.
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