Indian markets closed at a three-month high level on Monday, mainly lifted by banking and financials after HDFC and HDFC Bank announced a merger, earlier today. The BSE Sensex grew over 1300 points and Nifty50 breached the 18000-level for the first time since January 18, 2022. 

The broader indices such as mid and small cap also participated in the rally and gained in the range of 1-2 per cent. Similarly, all sectoral indices ended in green as well where banking, power, and metal were the top gainers. 

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According to Parth Nyati, Founder, of Tradingo, “Over 70 per cent of contribution to the gain of Nifty50 because of HDFC twins also led to short covering in the market, and foreign investors are showing buying interest that is leading to outperformance in the Indian equity market.” 

Stocks such as Mahindra and Mahindra, Wockhardt, Interglobe Aviation (Indigo), IndusInd Bank, Federal Bank, and Wipro were other stocks that will be in focus on Tuesday. 

Stocks in News 

IndiGo appoints RK Singh as Principal Advisor to Managing Director Rahul Bhatia with immediate effect. Singh, a former IAS, officer has worked as an Aviation Law specialist. 

IndusInd Bank total advances as of March 31, 2022, rise 13% YoY (Year-on-Year) to Rs 2.4 lakh crore, while deposits grow 15% YoY to Rs 2.9 lakh crore 

Wockhardt’s Chief Financial Officer (CFO) Deepak Madnani quits; Board appoints Pramod Gupta as the new CFO of the company with immediate effect. 

Federal Bank deposits in Q4 rise 5.3% YoY to Rs 1.8 lakh crore, while gross advances increased 9.5% YoY to Rs 1.5 lakh crore. 

Mahindra and Mahindra launches Alfa CNG in Cargo and Passenger variant starting from Rs 2.57 lakh (ex-showroom Lucknow) 

Wipro: Ex-date of the company’s interim dividend of Rs 5 per share. 


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