Sensex Today Tanks 700 Points; Nifty Below 22,350

Shares in Asia slipped Monday, tracking a fall in US equities, as markets grappled with ratcheting tensions after Iran's unprecedented attack on Israel over the weekend.

Equity benchmarks in Japan, South Korea, and Australia all declined while Hong Kong stock futures also fell.

US stocks tumbled following a mixed start to earnings season. The stock markets were also rattled by worries about potentially escalating tensions in the Middle East.

Here's a table showing how US stocks performed on Friday:

Stock/Index LTP Change ($) Change (%) Day High Day Low 52-Week High 52-Week Low
Alphabet 159.19 -1.6 -1.00% 161.7 158.6 161.7 103.27
Apple 176.55 1.51 0.86% 178.36 174.21 199.62 161.42
Meta 511.9 -11.26 -2.15% 520.19 509.33 531.49 207.13
Tesla 171.05 -3.55 -2.03% 173.81 170.36 299.29 152.37
Netflix 622.83 -5.95 -0.95% 633.12 618.92 639 315.62
Amazon 186.13 -2.92 -1.54% 188.38 185.08 189.77 98.71
Microsoft 421.9 -6.03 -1.41% 425.18 419.77 430.82 275.37
Dow Jones 37983.24 -475.84 -1.24% 38319.14 37877.3 39889.05 32327.2
Nasdaq 18003.49 -304.5 -1.66% 18166.49 17952.09 18464.7 12724.24

Source: Equitymaster

At present, the BSE Sensex is trading 735 points lower and NSE Nifty is trading 225 points lower.

Hindalco, ONGC, and Nestle are among the top gainers today.

BPCL, Coal India, and Tata Motors the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Midcap index is trading 2.3% lower and the BSE Small Cap index is trading 3.4% lower.

Sectoral indices are trading negative, with stocks in the power sector, energy sector and realty sector witnessing selling pressure.

The rupee is trading at Rs 83.4 against the US dollar.

In commodity markets, gold prices are trading marginally higher at Rs 71,946 per 10 grams today.

Meanwhile, silver prices are trading 0.3% higher at Rs 83,122 per 1 kg.

Adani Enterprises to Acquire Stake in Adani Esyasoft

Adani Enterprises on Friday, 12 April said its subsidiary Adani Global Ltd will acquire a 49% stake in Adani Esyasoft Smart Solutions Ltd, Abu Dhabi.

Adani Global, based in Mauritius, has entered into a Shareholders' Agreement (SHA) to acquire a 49% stake in the company from Esyasoft Holding, UAE.

The agreement, executed on Friday, 12 April, aims to pave the way for the development of smart solutions such as smart metering software, load forecasting, revenue maximization, and other efficiency-based software products and solutions for utilities, both in India and globally.

Under the terms of the agreement, Adani and Esyasoft Holding will hold 49% and 51% shareholding, respectively, in Adani Esyasoft Smart Solutions.

Since the beginning of 2024, Adani Enterprises has been on an upward trend, moving up from Rs 2,917 to Rs 3,222 in March 2024.

Adani Enterprises Share Price in 2024

Varun Beverages Expands Up North

Varun Beverages, a leading bottler of beverage major PepsiCo, on Saturday said it has started commercial production of soft drinks and energy drinks from its production facility at Gorakhpur, Uttar Pradesh.

The Jaipuria family-promoted firm will also start juices and value-added dairy products from the Gorakhpur facility.

VBL said it is investing about Rs 11 bn for the greenfield project.

VBL said it is expanding production capacities in the juices and value-added dairy products segments in 2024.

VBL operates across six countries. Three markets of the Indian Subcontinent, India, Sri Lanka, and Nepal contributed 83 percent of its net revenues, while three African countries, Morocco, Zambia, and Zimbabwe, contributed the remaining 17 percent in 2023.

VBL accounts for more than 90% of PepsiCo's beverage sales volume in India.

It manufactures, markets, and distributes a range of PepsiCo-owned products, which include carbonated soft drinks, carbonated juice-based beverages, juice-based beverages, energy drinks, sports drinks, and packaged drinking water.

The company is the largest franchisee of PepsiCo in the world.

It manufactures and distributes a wide range of carbonated and non-carbonated drinks, which are sold under the PepsiCo trademark.

It is among the Top 5 Largecap Stocks that Could Skyrocket in Modi's Next 5 Years.

Wipro Makes Another CEO Change

Wipro has appointed Malay Joshi as the CEO of its Americas 1 strategic market unit, effective immediately.

Joshi succeeds Srini Pallia, who was appointed as CEO and MD of Wipro recently. Joshi will also join Wipro's executive board. He will be based out of Wipro's New York City office.

Last week, the Bengaluru-headquartered IT major announced the resignation of Thierry Delaporte as CEO and named Srinivas Pallia as the new Chief Executive Officer, with immediate effect.

Joshi was previously the senior vice president and business unit head, leading communications, media, tech, retail, travel, which make up one of Wipro's largest business units globally.

In this role, he was responsible for helping clients drive successful enterprise transformations among other duties, enhancing client experience, strengthening delivery, and ensuring consistent revenue growth in the sectors he led.

Joshi oversees a diverse array of industry sectors, assumes responsibility for the unit's profit and loss.

Joshi joined Wipro in 1996 and has had an extensive career spanning over 28 years in various leadership roles.

More By This Author:

Sensex Today Tanks 793 Points; 5 Reasons Why Indian Share Market Is Falling
Sensex Today Trades Lower; Nifty Below 22,700
Sensex Today Ends 21 Points Higher; Banking Stocks Gain

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity ...

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