Key Things To Know Before Market Opens On Wednesday

The Indian markets are set to open lower as indicated by the Nifty Futures on Singapore Exchange amid weak global cues.

Here are key things to know before market opens on Wednesday:

SGX Nifty

The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures fell 1.11 per cent or 191 points to 17,005.

Bajaj Finance, United Breweries, AU Small Finance Bank, Tata Coffee Among Stocks In Focus

Bajaj Finance

Buoyed by healthy consumer sentiments, Bajaj Finance on Tuesday reported its highest ever consolidated net profit at Rs 2,420 crore in the three months ended March.

The figure is 80 per cent higher compared to Rs 1,347 crore posted in the year-ago period.

The Non-Banking Finance Company (NBFC) also posted its highest ever  consolidated profit after tax at Rs 7,028 crore in the fiscal ended March 2022, up 59 per cent, it said in a release.

In 2020-21, the net profit was at Rs 4,420 crore.

The net interest income in the latest March quarter rose 30 per cent to Rs 6,068 crore. For the full year, it was up 27 per cent at Rs 21,892 crore.

AU Small Finance bank

AU Small Finance Bank on Tuesday reported a 105 per cent growth in net income at Rs 346 crore for the March quarter driven by margin expansion, record loan sales and lower provisioning for impaired assets.

However, the Jaipur-based lender which has completed five years of operations said its full year net came fell to Rs 1,130 crore from Rs 1,171 crore on an annual income of Rs 6,915 crore that rose 21 per cent and a net interest income of Rs 3,234 crore that grew 37 per cent.

Tata Coffee

Tata Coffee (TCL) on Tuesday reported a 12.04 per cent growth in its consolidated profit to Rs 64.28 crore during the quarter ended March.

The company's profit stood at Rs 57.37 crore during the corresponding quarter of 2020-21, TCL said in a BSE filing.

Revenue from operations witnessed a growth of 10.99 per cent to Rs 656.26 crore during the quarter under review, compared to Rs 591.23 crore in the same period of the previous fiscal.

HDFC Life

HDFC Life Insurance on Tuesday reported a 12.4 per cent growth in net income at Rs 357.52 crore for the March quarter despite a fall in income, but a steep plunge in investment gains and COVID claims crimped the bottomline for the full year by 11 per cent to Rs 1,208 crore.

During the reporting quarter, total income fell to Rs 16,054.94 crore from Rs 19,191.32 crore  year ago, despite a rise in net premium income to Rs 14,289.66 crore from Rs 12,868.01 crore.

United Breweries

Beer maker United Breweries Ltd, controlled by Dutch multinational company Heineken NV, on Tuesday reported a 67.92 per cent increase in its consolidated net profit to Rs 163.78 crore for the fourth quarter ended March 2022, led by a volume-based growth.

The company had posted a net profit of Rs 97.53 crore during the January-March quarter of the previous fiscal, United Breweries Ltd (UBL) said in a regulatory filing.

Its revenue from operations was up 1.28 per cent to Rs 3,664.71 crore during the quarter under review as against Rs 3,618.09 crore in the corresponding period of the preceding fiscal.

Aditya Birla AMC

Aditya Birla Sun Life AMC on Tuesday reported a one per cent growth in profit after tax at Rs 158.5 crore in the three months ended March 2022.

In comparison, the company had posted a Profit After Tax (PAT) of Rs 156.7 crore in the year-ago period, according to a filing to the stock exchanges.

Revenue from operations rose 3 per cent to Rs 323.5 crore in the quarter under review. The same stood at Rs 315.3 crore in the three months ended March 2021.

Macrotech Developers

Realty firm Macrotech Developers Ltd on Tuesday reported a multi-fold jump in consolidated net profit at Rs 1,202.37 crore for the last fiscal on higher revenue and pre-sales.

Its net profit stood at Rs 40.16 crore in 2020-21, according to a regulatory filing.

Total income rose to Rs 9,579.17 crore in the 2021-22 financial year from Rs 5,771.65 crore in the previous fiscal.

Foreign Flows

Foreign institutional investors sold shares worth Rs 1,174 crore on Tuesday while domestic institutional investors bought shares worth Rs 1,644 crore.

Asian Markets

Asian markets were largely trading lower after investor sentiment was shaken by rising inflation across the globe. In the recent economic data inflation hit 20 year high in Australia amid rising energy prices. Japan's Nikkei fell 1.95 per cent, Hong Kong's Hang Seng declined 0.7 per cent and South Korea's KOSPI declined 1.2 per cent.

US Markets

Stocks closed broadly lower on Wall Street Tuesday, weighed down by sharp declines in Big Tech stocks that also left the Nasdaq with its worst drop since September 2020.

Investors are busy reviewing the latest round of corporate earnings and are facing a particularly heavy week with results from some of the nation’s biggest companies. Earnings growth has been one of the pillars of the market, but the reports so far haven’t offset investors’ concerns about rising inflation, interest rate hikes and potential damage to global economic growth from pandemic-related lockdowns in China.

The S&P 500 fell 120.92 points, or 2.8 per cent to 4,175.20. The benchmark index closed the day with 95 per cent of its stocks losing ground. The Dow Jones Industrial Average fell 809.28 points, or 2.4 per cent, to 33,240.18.

The tech-heavy Nasdaq bore the brunt of the day’s losses. It fell 514.11 points, or 4 per cent, to 12,490.74. That’s its worst drop since Sept. 8, 2020. The index is now down 20 per cent so far this year as investors shun the ultra-pricey tech sector, which had made gangbuster gains for much of the pandemic.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for June delivery rose $3.16 to $101.70 a barrel Tuesday. Brent crude for June delivery rose $2.67 to $104.99 a barrel.

Gold for June delivery rose $8.10 to $1,904.10 an ounce. Silver for May delivery fell 13 cents to $23.54 an ounce and May copper fell 1 cent to $4.44 a pound.

The dollar fell to 127.59 Japanese yen from 128.02 yen. The euro fell to $1.0645 from $1.0709.

Russia Ukraine War Update

As Russian forces intensify their shelling of eastern Ukraine, more people are leaving their homes in search of safety.

In Pokrovsk, a town in the Donetsk region, people lined up Tuesday to board a train headed to the far west of the country along the border with Hungary and Slovakia. One person was lifted onto the train in a wheelchair, another on a stretcher.

The passengers took with them cats, dogs, a few bags and boxes, and the memory of those who did not flee in time.

“We were in the basement, but my daughter didn’t make it and was hit with shrapnel on the doorstep” during shelling on Monday, said Mykola Kharchenko, 74. “We had to bury her in the garden near the pear tree.”

He said his village, Vremivka, about 70 kilometers (40 miles) from Pokrovsk, was under heavy fire for four days and everything was destroyed. With tears in his eyes, Kharchenko said he somehow held himself together at home, but once he reached the train station he fell apart.