Benchmark indices opened higher and climbed more than 1.7% following positive global signals. US futures are trading higher.
Brent Crude: 78.9 0.55%
USD INR Spot: 82.2169 -0.17%
India 10Y Bond yield: 7.316 0.27%
Nifty 50 market breadth for the day;
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
Bharat Electronics was the top gainer.
Vedanta was the top loser.
News
Global mergers and acquisitions (M&A) activity hit a more than decade low in Q1 2023 due to rising interest rates, high inflation, and recession fears. Dealogic data shows Q1 volumes at $575.1bn, down 48% YoY. The US falling by 44%, Europe by 70%, and Asia Pacific by 29%.
Magicbricks’ PropIndex report shows a 14.2% YoY increase in housing demand and a 1.9% increase in supply in India for Q4. Residential demand rose 3.2% sequentially, led by Ahmedabad with 21.4%, Bengaluru with 10.3%, and Pune with 7% growth.
China’s official manufacturing PMI fell to 51.9 in March but growth in services and construction surged to a 12-year high, with the non-manufacturing PMI rising to 58.2, its highest level since May 2011.
Reliance Industries Ltd rose over 4% following its announcement that a meeting on May 2 will be held to approve the proposed demerger of Reliance Strategic Ventures, after which the subsidiary will be renamed Jio Financial Services.
Nestle India shares rose nearly 3% on March 31 after a report stated that Nestle SA is one of the final bidders for Capital Foods Pvt Ltd, the owner of the Ching’s Secret brand. The deal is expected to value the Indian firm at over $1 billion, according to Bloomberg.
Bharat Electronics’ stock surged 7.5% to Rs 98.3 on Friday after the company signed 12 contracts worth Rs 8,194 crore with India’s Ministry of Defence for the armed forces.