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Research Periodic Report Hindustan Copper Leads Metal Rally, Adani Total Gas and Torrent Power Gain Momentum and more

Hindustan Copper Leads Metal Rally, Adani Total Gas and Torrent Power Gain Momentum and more

Written by - Fisdom Research

April 1, 2024 3 minutes

Indian markets:

  • The Indian stock market benchmarks, Nifty 50 and Sensex concluded the trading day with substantial gains, achieving new record highs during the session. 
  • Investor sentiment remained positive, prompting widespread buying activity across various sectors.
  • With the exception of the auto sector, all other sectoral indices closed in positive territory. Notably, metal, power, capital goods, healthcare, and realty sectors saw gains ranging from 1 to 4 percent, while the oil & gas, information technology, and banking sectors each witnessed a modest increase of 0.5 percent.
  • Additionally, the BSE midcap index experienced a notable surge of 1.6 percent, while the smallcap index recorded a significant gain of nearly 3 percent, reflecting the broad-based optimism prevalent in the market.

Global Markets:

  • China stocks saw an upward trend on Monday as investors analyzed the country’s business activity, while Japan stocks ended the day on a lower note due to declining business optimism.
  • Japan’s Nikkei 225 experienced a decline of 1.4%, closing at 39,803.09, falling short of the 40,000 marks. The broader Topix index also witnessed a downturn, dropping by 1.71% to settle at 2,721.22.
  • Meanwhile, South Korea’s Kospi index managed a marginal increase of 0.04%, reaching 2,747.86, while the small cap Kosdaq index gained 0.77%, closing at 912.45.
  • Notably, Australian and Hong Kong markets remained closed for Easter Monday.
  • In the United States on Good Friday, February’s inflation figures met expectations, as reported by Dow Jones. The personal consumption expenditures price index, excluding food and energy, rose by 2.8% over the past 12 months and increased by 0.3% from the previous month.

Stocks in Spotlight

  • Hindustan Copper and other metal stocks saw a surge as positive economic indicators from China pointed towards a rebound in the manufacturing sector, potentially driving up demand for metals.
  • Adani Total Gas witnessed a 4 percent increase in its stock value following the announcement of its subsidiary, Adani Total Energies Biomass Limited (ATBL), commencing operations at the Barsana Biogas Plant located in the Mathura district of Uttar Pradesh.
  • Torrent Power experienced a significant 6 percent surge in its stock price after securing a 150-MW wind solar hybrid project through its distribution unit. The project, with a cost of Rs 1,825 crore, is set to be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA).

News from the IPO world🌐

  • TATA Sons eyes mega monetization of assets via stakes sale, IPO
  • Bharti Hexacom IPO opens this week.
  • Tata… Hello! Group back on D-Street, plans to launch several IPOs in 2-3 years

Daily Leader board:

Sectoral Performance

Top SectorsDay change (%)
NIFTY MEDIA4.7
NIFTY REALTY4.4
NIFTY METAL3.7
NIFTY PSU BANK1.5
NIFTY PHARMA1.1

Advance Decline Ratio

Advance/DeclinesDay change (%)
Advances3235
Decline665
Unchanged158

Numbers to track

Indices NameLatest% 1D% YTD
Dow Jones (US)39,8070.1 %5.5 %
10 Year Gsec India7.1(0.3) %(0.5) %
WTI Crude (USD/bbl)832.2 %18.2 %
Gold (INR/10g)68,3451.1 %5.2 %
USD/INR83.370.0 %0.4 %

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