US Stocks Decline for the 6th Straight Day, with the S&P 500, What Next for D-Street ?

As of Global Market View On April 19, US markets fell for the sixth day in a row as Israel retaliated against attacks on Iran. The Nasdaq Composite sank 1.11 percent to 15,428.61 at 8:45 p.m. IST, while Netflix led the S&P 500, which fell 0.32 percent to 4,995.02.

On the other hand, the Dow Jones Industrial Average increased by 0.42 percent to close at 37,932.98. Following the announcement by the firm that it will no longer be releasing information on new subscribers and average revenue per member starting in 2025, Netflix shares dropped 8.43% to $559.07.

The trading on European markets was uneven. The DAX was down 0.55 percent at 17,793.17, while the FTSE was up 0.23 percent at 7,894.64. Moreover, the CAC traded at 8,023.02, flat to negative.

The Nikkei saw severe losses earlier in the day due to Middle East tensions and underwhelming results from businesses that produce chips. At 37,068.35, the index finished 2.66 percent down. At 16,224.14, Hang Seng experienced a 1% decrease as well.

Most of Mid cap Stocks also started Falling while Indices still look Over Valued. Most of Mutual Funds also Looking for a Correction for at least 1 to 2 weeks which may be a Golden Chance for Fresh Entry. While DII also Started Selling with a net amount of Rs 52.20 crore while Rs 52.20 crore.

Revenue from the IT services division came in at $2.66 billion, up 0.1% from the previous quarter but down 6.4% from the same period last year.

Wipro Ltd. reported that, in contrast to expectations, net profit for the fiscal fourth quarter dropped 8% to Rs 2,835 crore. In the same period last year, the company reported a profit of Rs 3,074.5 crore.

According to an exchange report on April 19, the software services company’s revenue decreased to Rs 22,208.3 crore in the three months ended March 31. In the same period last year, it posted consolidated revenue of Rs 23,190.3 crore.

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