Stock Market Updates: Sensex Flat, Nifty Above 17,800; Bajaj Finance Up 2%, Voltas Dips 2%

Sensex Today: The expiry of F&O contracts for the month of April, Q4 results, and global cues will be the key triggers for the markets on Thursday.  The S&P BSE Sensex was at 60,343 in early deals, trading 43 points higher, while the Nifty50 held above 17,800-mark.

In the broader markets, the BSE MidCap index was flat, and SmallCap index added 0.24 per cent.

Among the biggest movers of the session, shares of Bajaj Finance gained 2.45 per cent. The company’s consolidated net profit rose 30 per cent YoY to Rs 3,158 crore in Q4FY23, on the back of higher net interest income (NII). The board recommended dividend payout of Rs 30 per share.

That apart, shares of Indus Towers advanced 3.5 per cent even as Indus Towers’ fiscal fourth-quarter net profit fell 23 per cent on year as the telecom infrastructure provider continued to provide towards doubtful dues from its largest customer, Vodafone Idea.

LTTS, too, rallied 4 per cent after the company’s revenue from operations rose to Rs 2,096.2 crore in Q4FY23, as against Rs 1,756.1 crore, in the year-ago period. Net profit, too, rose 15 per cent 18.1 per cent to Rs 310.9 crore in Q4FY23 from Rs 263.2 crore in Q4FY22.

Sectorally, the Nifty PSU Bank, Private Bank, and Realty indices added 0.3 per cent each. On the downside, the Nifty Media index dipped 0.2 per cent.

Global cues

Asia-Pacific market were lower on Thursday as investors focussed on the Bank of Japan’s first policy meeting led by new BOJ governor Kazuo Ueda. Besides, the March quarter GDP data for the US, which is due later tonight, is also keeping investors on the edge.

In Japan, the Nikkei 225 fell 0.41 per cent in early trade, while Australia’s S&P/ASX 200 was down 0.14 per cent. South Korea’s Kospi shed 0.1 per cent on its open.

Overnight in the US, stocks ended mixed as banking fears eclipsed Big Tech earnings on Wall Street. The Dow Jones Industrial Average lost 0.68 per cent, paring earlier gains. The S&P 500 slid 0.38 per cent, and the technology-heavy Nasdaq Composite added 0.47 per cent trimming gains after jumping as much as 1.43% in the trading day.

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