Share Market LIVE: Sensex, Nifty likely to open lower today

Good morning!

Benchmark stock indices ended lower on Monday due to selling in IT, capital goods and banking shares amid losses in global equities.

The Sensex tanked 482.61 points or 0.81 per cent to settle at 58,964.57. During the day, it tumbled 552.78 points or 0.92 per cent to 58,894.40. The 50-issue Nifty declined by 109.40 points or 0.62 per cent to finish at 17,674.95 as 29 of its stocks declined.

What's next? Here are the latest updates!

9:00 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities 

Benchmark Indices are expected to open on a Negative note as suggested by trends on SGX Nifty. US stock markets ended sharply lower on monday as investors started the holiday-shortened week in a risk-off mood, as rising bond yields weighed on market-leading growth stocks ahead of crucial inflation data. Dow jones was down by 416.5 points, whereas NASDAQ was down by 2.17% to 13412.94 levels. 

Asian markets are trading on  negative side as investors continue monitoring developments surrounding the COVID situation in mainland China. Nikkei is trading 0.84% lower and Topix index is trading at 0.51% lower. Oil prices fell about 4 percent on Monday, with Brent crude tumbling below $100 a barrel on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China.

On the technical front 17,400 and 17,800 are immediate support and resistance in Nifty 50. For Bank Nifty 37,200 and 37,900 are immediate support and resistance respectively.

8:45 am:  FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 1,145.24 crore on April 11, and domestic institutional investors (DIIs) bought shares worth Rs 486.51 crore, as per provisional data available on NSE.

8:40 am: Global updates

Wall Street closed sharply lower on Monday as investors started the holiday-shortened week in a risk-off mood, as rising bond yields weighed on market-leading growth stocks ahead of crucial inflation data. All three major US stock indexes ended deep in negative territory, with tech and tech-adjacent stocks pulling the Nasdaq down the most.

The Dow Jones Industrial Average fell 405.08 points, or 1.17 percent, to 34,316.04. The S&P 500 lost 74.83 points, or 1.67 percent, to end at 4,413.45 points, while the Nasdaq Composite lost 298.06 points, or 2.17 percent, to 13,412.94.

8:30 am: SGX Nifty

The Indian equity market is likely to open lower today as SGX Nifty was trading lower at 17,573.

The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Monday

Benchmark stock indices ended lower on Monday due to selling in IT, capital goods and banking shares amid losses in global equities.

The Sensex tanked 482.61 points or 0.81 per cent to settle at 58,964.57. During the day, it tumbled 552.78 points or 0.92 per cent to 58,894.40. The 50-issue Nifty declined by 109.40 points or 0.62 per cent to finish at 17,674.95 as 29 of its stocks declined.

From the Sensex pack, Larsen & Toubro, HCL Technologies, Infosys, Wipro, Asian Paints, HDFC, HDFC Bank, Axis Bank were the major laggards.

In contrast, ICICI Bank, NTPC, Kotak Mahindra Bank, TCS and UltraTech Cement were among the gainers.