The benchmark Sensex and Nifty are expected to open on a negative note on April 19, with trends in the GIFT Nifty indicating a weak start for the broader market. The GIFT Nifty is showing a loss of 119.50 points, pointing towards a 0.54 percent decline. This comes after Indian equity indices closed lower for the fourth consecutive day on April 18, with the Nifty falling below the 22,000 mark.
On April 18, the Sensex closed down 454.69 points or 0.62 percent at 72,488.99, while the Nifty was down 152.05 points or 0.69 percent at 21,995.85. The pivot point calculator suggests that the Nifty 50 may find immediate support at the 21,955 level, followed by 21,869 and 21,730 levels. On the upside, resistance levels are seen at 22,234, 22,320, and 22,459.
In the US markets, stocks were volatile on Thursday, with the Dow Jones Industrial Average rising slightly, the S&P 500 ending in the red, and the Nasdaq Composite dropping. Benchmark Treasury yields rose, and gold gained strength amid ongoing turmoil in the Middle East.
Asian markets were trading lower on Friday, following Wall Street’s losses from the previous day. Japan’s Nikkei 225 and South Korea’s Kospi were among the indices that fell.
In corporate news, Bajaj Auto reported a Q4 profit of Rs 2,011 crore, beating estimates, while Infosys posted a net profit of Rs 7,969 crore for the quarter. Wipro is set to announce its Q4 earnings today, with expectations of a marginal fall in revenue and a small rise in net profit.
NSE will launch derivatives on the Nifty Next 50 index later this month, after receiving approval from SEBI. Oil prices slipped on Friday as US jobs data pointed to higher interest rates and tensions in the Middle East eased.
Foreign institutional investors (FIIs) net sold shares worth Rs 4,260.33 crore, while domestic institutional investors (DIIs) bought Rs 2,285.52 crore worth of stocks on April 18. Exide Industries has been added to the F&O ban list for April 19 on the NSE.
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