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Indices trade with tiny losses

Published on Apr 05, 2022 09:29

Equity indices traded near the flat line with tiny losses in early trade. The Nifty hovered above the 18,050 level. Barring banking and financial stocks, buying demand was seen across the board.

At 9:26 IST, the S&P BSE Sensex fell 40.31 points or 0.07% at 60,571.89. The Nifty 50 index fell 3 points at 18,050.4

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.7% while the S&P BSE Small-Cap index rose 0.97%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, shares 2,047 rose and 604 shares fell. A total of 106 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,152.21 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,675.01 crore in the Indian equity market on 4 April, provisional data showed.

Stocks in Spotlight:

TCS rose 0.66%. The IT major signed a material multi-year contract with a large American company expanding its long-standing partnership to accelerate their cloud transformation journey and transform their technology landscape into a modern hybrid cloud stack for greater agility, flexibility, and improved operational resilience.

Hindustan Zinc rose 1.03%. The company announced best ever mined metal production for Q4FY22 of 295000 lakh tonnes since UG transition, up 17% compared to Q3FY22, and up 3% compared to Q4FY21.

Global Markets:

Asian stocks were trading mixed on Tuesday as investors look ahead to the Reserve Bank of Australia`s latest rate decision. Markets in Hong Kong and mainland China are closed on Tuesday for a holiday.

US stocks rose on Monday, boosted by megacap tech and growth stocks and a surge in Twitter after Elon Musk revealed his stake in the company, amid cautionary signals in the bond market and talk of more sanctions against Russia over Ukraine. Twitter shares surged more than 27% following news that Musk purchased a 9.2% passive stake in the company.

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