Indices at previous closing
Nifty50: 17,171 ▼220 (-1.2%)
Sensex: 57,197 ▼714 (-1.2%)
Nifty Bank: 36,044 ▼771 (-2.1%)
For more updates on F&O, click here.
Govt may trim the stake sale size in LIC IPO
The government is reportedly planning to sell a 3.5% stake in the eagerly awaited LIC IPO, due to market volatility resulting from the Ukraine crisis. Earlier the government had said in its IPO filing that it will offload a 5% stake. The size of the issue is expected to be ₹21,000 crore, valuing the insurer at ₹6 lakh crore.
The report also said that LIC is expected to file the red herring prospectus on 27 April. The IPO is expected to launch in the first week of May.
Tata Motors hikes prices of passenger vehicles
Auto major Tata Motors has increased the prices of its passenger vehicles by 1.1% from 23 April owing to a rise in the cost of inputs. In March, the company announced that it will increase the prices of its commercial vehicles range by 2–2.5% from 1 April, depending upon the models and variants.
The rise comes on the back of an increase in the prices of commodities, such as steel and aluminium. Besides, higher costs of other raw materials has also triggered the price hike in commercial vehicles.
Crude oil prices fall
Despite the reduction in supply after Russia sanctions, the crude oil prices dropped on Friday, falling 5% last week. This was on the back of expectations of reduced consumption in China due to a lockdown in Shanghai.
Experts quoted in the report said that there are risks that prices may move upwards from here due to the Ukraine-Russia conflict. However, lockdowns in China and potential Fed-driven economic slowdowns are also significant events that can determine price movements.
Sectoral indices (April 22)
| Top gainers | Top losers |
| NA | Nifty Bank
▼ 2.1% |
| NA | Nifty PSU Bank
▼ 2.1% |
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 1.2% |
| Nikkei 225 (Japan) | ▼ 2.0% |
| Hang Seng (Hong Kong) | ▼ 2.5% |
| SSE Composite (China) | ▼ 1.6% |
| Dow Jones (US) (April 22) | ▼ 2.8% |
| NYSE (US) (April 22) | ▼ 2.6% |
| Nasdaq (US) (April 22) | ▼ 2.5% |
| S&P 500 (US) (April 22) | ▼2.7% |
Fact of the day
The agriculture sector added 11 million workers in the last three years, while the rest of the Indian economy lost 15 million jobs.
Source: Economic Times
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
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