Latest Stock Market News

The performance of Infosys in the March quarter on the revenue front was worse compared with peers Tata Consultancy Services (TCS) and Wipro.

Gensol Engineering faces a corporate governance crisis as independent directors Harsh Singh and Kuljit Singh Popli resigned following promoters offer to step down. SEBI barred the promoters from the securities market, alleging financial misconduct, including misuse of loans and diversion of funds for personal luxuries.

Stock exchanges will be closed on Good Friday, marking the end of April s market holidays. The next trading breaks are scheduled for Maharashtra Day, Independence Day, and Ganesh Chaturthi. The past week saw a strong market rally fueled by positive economic factors and favorable forecasts, leading to sector- and stock-specific investment strategies.

Gold prices in India surged to ₹95,000 per 10 grams on Thursday, mirroring global trends. Central banks and ETFs are increasing gold holdings. This rise coincides with geopolitical tensions and a weaker US dollar. Retail investors are selling gold to profit from the high prices. Akshaya Tritiya sales may suffer due to the increased cost.

Indian stock markets experienced a significant surge, with the Nifty and Sensex jumping by 1.8% and 2% respectively, marking their best week in over three years. This rally, fueled by renewed foreign investment and reduced bearish sentiment, erased year-to-date losses. While Asian markets largely followed suit, US markets showed mixed performance amid concerns over Federal Reserve policy.

The rupee saw its best week in a month, closing at 85.36 against the dollar. Foreign portfolio inflows and a weaker dollar index supported the rise. Both state-run and foreign banks sold dollars. Foreign investors net bought over $1 billion in Indian stocks. Dollar-rupee forward premiums declined. Indian financial markets are closed on Friday for Good Friday.

Coromandel International and One 97 Communications may join the MSCI Global Standard Index. FSN E-Commerce and Adani Energy Solutions are also strong contenders. Nuvama Alternative Research predicts these changes. Thermax and Sona BLW Precision could be excluded. These adjustments will trigger significant fund reallocations. The announcement is expected on May 14. Changes will take effect on May 30.

CLSA expresses caution regarding Indian FMCG companies, particularly in the Home and Personal Care sector, citing high PE ratios amidst slowing growth and declining returns. Valuations appear detached from growth, raising concerns about margin sustainability due to increasing competition and evolving distribution dynamics. The brokerage downgraded Godrej Consumer and remains wary of Hindustan Unilever and Marico.

IDFC First Bank is set to raise ₹7,500 crore through CCPS, with Warburg Pincus and ADIA investing ₹4,876 crore and ₹2,624 crore respectively. This move aims to bolster the bank s capital adequacy as it focuses on expanding its infrastructure and new business segments.

Indian markets jumped over 2% after the U.S. announced tariff exemptions for electronics. Sensex rose 1,577 points and Nifty gained 500. Stocks like Intellect Design, Macrotech, Motherson, Sona BLW, and Premier Energies posted strong gains.