Markets trade flat; Axis Bank falls 1% ahead of Q3 results
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Benchmark indices opened the day in red amid mixed cues in Asian markets as dollar gained after Federal Reserve Chair Janet Yellen hinted on hiking rates at a gradual pace this year.
Back home, investors remained cautious as the corporate earnings season continues. Yes Bank, Axis Bank and Federal Bank will announce their Q3 results today.
At 9:33 am, the S&P BSE Sensex was trading at 27,288, up 30 points, while the broader Nifty50 was ruling at 8,420,up 3 points.
Broader markets ourperformed benchmark indices with BSE Midcap and BSE Smallcap rising 0.4% and 0.3% respectively.
"Now if it sustains above 8,440 then only it may see an up move towards 8,480 and 8,510 zones while holding below 8,370 may attract a profit booking decline towards 8,315 and 8,280 zones. Traders are suggested to remain light if immediate support is broken out on next trading sessions as follow up buying is missing at higher levels," said Anand Rathi Equity Advisory in a note.
Meanwhile, on Tuesday, foreign investors turned net buyers and bought equities worth Rs 319.14 crore, while domestic investors also bought equities worth Rs 245.03 crore.
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Fintech firm BharatPe on Tuesday said it has elevated its interim CEO and chief financial officer Nalin Negi as full-time chief executive officer.
Negi was given charge of interim CEO in January 2023 after then CEO Suhail Sameer stepped down from the post.
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Two individuals have been arrested by the Mumbai Crime Branch late on Monday night for allegedly firing shots outside the residence of Bollywood actor Salman Khan in Bandra West on April 14, several media outlets reported.
"Both individuals, who fled Mumbai following the shooting, were apprehended in Bhuj, Gujarat," stated officials, as per news agency ANI. The Mumbai police confirmed that the detained individuals, identified as Vicky Gupta and Sagar Pal from Champaran, Bihar, will be transported to Mumbai for further interrogation.
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Tata Consultancy Services has topped the LinkedIn's latest list of top companies to work for in India, followed by Accenture and Cognizant in the second and third place respectively.
Professional networking platform LinkedIn on Tuesday released the 2024 Top Companies list for India wherein IT companies bagged the top three ranks, while financial services firms dominated the list with 9 out of 25 companies from this sector.
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Shares of Vodafone Idea dropped as much as 3.95 per cent to hit an intraday low of Rs 12.64 per share. The drop comes in reaction to the follow-on public offering (FPO) anchor book, which will open today.
Vodafone Idea shares have plunged 25.19 per cent year-to-date (YTD), but have surged 7 per cent in the past 6 months.
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Srinivas Pallia, who has been a part of Wipro for over three decades, divested all his shares valued at Rs 5 crore in the company approximately a month and a half prior to his appointment as the new chief executive, according to a report by The Economic Times (ET).
Pallia sold his 100,000 Wipro shares through a 'market sale' on February 14 this year, with the transaction being reported to the exchange on February 15. The total transaction amounted to Rs 5.05 crore, the report added. Following the transaction, Pallia's holdings of securities on the BSE were reduced to zero.
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