Gift Nifty indicates a weak opening for the Indian stock indices; The US markets ended lower amid tensions in the Middle East; The Asian markets also traded lower concerning geopolitical tensions


The domestic equity market indices, Sensex and Nifty 50, are likely to extend losses and open lower on Tuesday amid weak global market cues considering the Iran-Israel conflict.

Gift Nifty was trading around the 22,185 level, a discount of nearly 180 points from the Nifty futures’ previous close, indicating a weak start for the Indian stock market indices.

US stock market indices ended sharply lower on Monday amid a jump in Treasury yields and concerns over rising geopolitical tensions between Iran and Israel.

The Dow Jones Industrial Average declined 248.13 points, or 0.65%, to 37,735.11, while the S&P 500 dropped 61.59 points, or 1.20%, to 5,061.82. The Nasdaq Composite ended 290.07 points, or 1.79%, lower at 15,885.02.

Asian markets extended their decline and traded lower on Tuesday ahead of key economic data from China and as geopolitical tension intensified in the Middle East.

Japan’s Nikkei 225 plunged 1.5%, while the Topix declined 1.04%. South Korea’s Kospi dropped 1.31% and the Kosdaq fell 0.86%. Hong Kong’s Hang Seng index futures indicated a weak opening.


Jio Financial Services: Jio Financial has signed an agreement with BlackRock Inc and BlackRock Advisors Singapore Pte Ltd to form a 50/50 joint venture for setting up wealth management and broking businesses in India. The launch of the wealth management and broking business is subject to regulatory and statutory approvals.

Cipla: Cipla Health, the wholly owned subsidiary of the company, has signed a business transfer agreement for the purchase of the distribution and marketing business undertaking of cosmetics and personal care businesses from Ivia Beaute, India, through a slump sale arrangement on a going concern basis. The deal value of Rs 130 crore on the closing date includes Rs 110 crore if certain financial parameters are met for the next 3 years.

VST Industries: Ace investor Radhakishan Shivkishan Damani has picked 2,33,766 equity shares (equivalent to 1.51 percent of paid-up equity) in the cigarette manufacturing company at an average price of Rs 3,689.96 per share, valued at Rs 86.26 crore. However, HDFC Mutual Fund sold 1,30,811 equity shares in VST at an average price of Rs 3,690 per share and 2 lakh shares at an average price of Rs 3,690.38 per share.

Gujarat Gas: The company has signed a non-binding Memorandum of Understanding (MOU) with Indian Oil Corporation to broaden the scope and accessibility of energy solutions for consumers. As per the MoU, Indian Oil Corporation will provide liquid fuels, automotive lubricants, greases, and specialties at Gujarat Gas outlets. Further, Gujarat Gas will set up a CNG facility and a CNG mother facility at Indian oil outlets.

GTPL Hathway: The digital cable TV services provider has recorded a consolidated net profit of Rs 16 crore for the quarter ended March FY24, against a net loss of Rs 10.8 crore in the year-ago period despite a lower operating margin. Revenue from operations for the quarter at Rs 808 crore increased by 16.7 percent over the corresponding period last fiscal, with the digital cable TV business increasing 14 percent to Rs 314.8 crore and the broadband segment showing 5 percent growth at Rs 130.8 crore.

SpiceJet: The low-cost airline company’s market share in March 2024 increased to 5.3 percent, against 5.2 percent in the previous month. In terms of on-time performance (OTP), SpiceJet was in sixth place with 63.6 percent.

Ramco Systems: The company has reached a settlement with the customer to pay US$1.50 million in two equal installments before December 31, 2024, in full and final settlement of the dispute. The settlement amount has already been provided in the financials for the nine months ended December 31, 2023.