Stock market updates on April 02, 2024: After kicking-off FY25 on a winning note, benchmark indices started Tuesday’s trading session on a quiet note.
The S&P BSE Sensex opened almost unchanged at 74,022, and soon quoted near about 150 points lower at 73,850 levels. The NSE Nifty was down 30-odd points at 23,435.
Among the Sensex 30 shares, Wipro, ICICI Bank, Bajaj Finance and Mahindra & Mahindra were the notable losers. On the other hand, Nestle and NTPC held marginal gains.
Among individual stocks, Aditya Birla Fashion and Retail (ABFRL) hit the 10 per cent upper limit at Rs 233 after the copmpany asked its management to evaluate the vertical demerger of the Madura Fashion & Lifestyle (MFL) business into a separate listed company.
Overnight, the US market ended mostly lower as hopes of an early rate cut suffered fresh jolt after data showed that the US manufacturing sector grew for the fist time since September 2022. A stronger US economy my not warrant a rate cut soon, believe analysts. Dow Jones slipped 0.6 per cent, the S&P 500 0.2 per cent while Nasdaq, however, added 0.1 per cent. Meanwhile, the US 10-year bond yield jumped back above 4.30 per cent.
Nearer home, Taiwan jumped 1 per cent, while Nikkei and Kospi held marginal gains, while China indices were in red.
