Share Market update: Sensex falls 48 pts, Nifty ends below 16,600 in volatile trade
Sensex falls 48 points to 55,769 and Nifty ends 43 points lower at 16,584 in volatile session.
- Jun 3, 2022,
- Updated Jun 3, 2022 3:42 PM IST
The Indian market ended lower today amid positive global cues. Sensex fell 48 points to 55,769 and Nifty ended 43 points lower at 16,584 in volatile session.
Benchmark indices ended higher in the previous session, snapping two straight sessions of losses. Sensex rose 436 points to 55,818 and Nifty closed 105 points higher at 16,628. Reliance Industries, Bajaj Finserv, Sun Pharma, HCL Technologies, TCS, Asian Paints, Infosys and IndusInd Bank were among the top Sensex gainers, rising up to 3.51 percent.
Here's what to expect on Dalal Street today.
Stocks in news: Aether Industries, UltraTech Cement, HDFC, TechM and more
3:30 pm: Sensex falls 48 points to 55,769 and Nifty ends 43 points lower at 16,584 in volatile session.
2:44 pm : Ultratech Cement stock hits 52-week low post Rs 12,886-cr capex plan, here's why
Shares of Ultratech Cement fell over 6 per cent on June 3 despite the cement maker announcing an investment of Rs 12,886 crore toward capacity expansion. The weakness on the counter can be attributed to weak demand, high fuel costs and entry of a new player (Adani group). Hence, the stock is reacting negatively to significant capacity announcement by the Aditya Birla Group firm.
In mid-May, the Adani Group, through a special purpose vehicle acquired a significant cement capacity of around 70 million tonnes per annum for $10.5 billion after the exit of Holcim, a swiss cement maker.
The buyout will make Adani Group the second-largest player in India's cement industry, which has an installed capacity of around 500 million tonnes.
Stock of Ultratech Cement declined 6.64 per cent to Rs 5,608 (a fresh 52-week low) against the previous close of Rs 6,007 on BSE.
1:34 pm: Gainers and losers
Top Sensex gainers are RIL, Infosys, Wipro, L&T and HCL Tech, rising up to 3 percent in the afternoon session. Top losers are Ultratech Cement, NTPC and Maruti Suzuki falling up to 5.5 per cent.
12:54 pm: Up to 900% return in just three years! Can you spot multibaggers from this transforming sector?
Not even a single stock from this sector eroded investors’ wealth in the past three years. In fact, as many as 20 stocks rallied more than 100 per cent during June 2019-June 2022 and a dozen of stocks jumped in double-digit during the same period. Can you guess the industry? At present, the sector is in the sweet spot due to structural changes, thanks to various government initiatives which ensure the financial position of the companies remains healthy. This is the sugar sector. Read more
12:34 PM: Indices pare gains
Sensex rises 377 points to 56,196 and Nifty gains 86 points to 16,714 in the afternoon session.
12:05 PM: Services sector PMI reaches 58.9 in May
India’s service sector PMI has expanded at the strongest rate since November 2021 while input costs inflation climbs to a new record, according to rating agency S&P Global India. PMI went up from 57.9 in April to 58.9 in May. The spurt in PMI was backed by a pick-up in new business growth as demand continued to recover after the reopening of the economy since the relaxation of COVID-19 restrictions. READ MORE
11:37 am: Market update
Sensex rises 506 points to 56,325 and Nifty gains 117 points to 16,744.
11:30 AM: RIL stock rises over 3%
Reliance Industries Ltd (RIL) stock rose over 3 per cent amid a market rally today. RIL share rose 3.37 per cent to Rs 2,816 today against the previous close of Rs 2,724 on BSE.
The large-cap share has gained 6.50 per cent in two days. RIL share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.READ MORE
11:15 AM: Rs 1 lakh to Rs 55 lakh: This penny stock turned into a multibagger in a year
The stock of Cressanda Solutions has delivered stellar returns to investors in the last year. Cressanda Solutions shares closed at Rs 35.4 on June 2, 2022 against Rs 0.64 on June 2, 2021 translating into gains of 5,431 per cent during the period. In comparison, Sensex gained 7.61 per cent during the period.READ MORE
10:37 am: Aether Industries stock makes strong debut, lists at 10% premium to issue price
Shares of Aether Industries made a stellar market debut today as the speciality chemicals manufacturer listed at Rs 706.15, a premium of 10 per cent over its issue price of Rs 642 on BSE. The stock listed at Rs 704 on NSE.
A day before listing, Aether Industries commanding a premium of Rs 25-30 in the grey market, signaling a positive listing.
Later, Aether Industries stock zoomed 21 per cent or Rs 134.75 to Rs 776.75 on BSE. It was trading 10 per cent higher to the opening price of Rs 706.15. The market cap of Aether Industries stood at Rs 9,669 crore. A total of 3.82 lakh shares of the firm changed hands amounting to a turnover of Rs 29.24 crore on BSE. Read more
9:48 am: Deepak Nitrite stock slips 5% after fire breaks out at Gujarat facility
Deepak Nitrite stock fell over 5 per cent in early trade today after a massive fire broke out at the company's chemical manufacturing facility in the Nandesari industrial area on the outskirts of Vadodara (Gujarat) on Thursday evening.
The stock has fallen after six days of consecutive gain. It opened with a loss of 4.66 per cent at Rs 1950 on BSE.READ MORE
9:18 am : Sensex rises 488 points to 56,306 and Nifty gains 133 points to 16,761 in opening trade. HCL Tech, Infosys, Wipro top gainers.
8:56 am: Pre-opening market comments
Prashanth Tapse, Vice President (Research), Mehta Equities said, "Markets are expected to start on a firm note tracking solid gains in SGX Nifty and overnight recovery in the US markets. Nifty is building a 'bullish double bottom pattern' aided by India's GDP numbers on expected lines, dovish US Fed, early arrival of monsoon, fresh stimulus in China, and easing curbs in the dragon nation. Nifty bulls' probably will rip to its 200 - DMA 17269 mark, with immediate target seen at 16,897. Stocks that are likely to gain ground Bajaj Finance, Tata Steel, Grasim and Reliance Industries."
8:42 am: Expert take
Mohit Nigam, Head - PMS, Hem Securities said, "Markets are looking to give a strong positive opening with gains of over a percent in Nifty50 as indicated by the SGX. Among the Asian markets, all are positive on the back of the US market being positive after two days of losses. The positive indicators are also coming on the crude front with OPEC plus countries planning to increase production of 648,000 barrels per day from July and August - much required worldwide to tame inflation and help the world to take on faster growth.
Among the stock specific news, Ultratech Cement planned capacity expansion of 22.6 MTPA with investments of closer to 13,000 crores in the brownfield and greenfield projects. Bajaj Auto facing huge inventory shortages due to chip crunch and vendor issues. Aether industries will make its debut in the markets today after the 6.25x subscription of the 808 crore IPO. Also Nifty50 index options faced a fat finger trade yesterday with strike price 14,500 call selling for very low prices while index was trading at 16,500-16,600 levels.
For the benchmark indices, 16,650 and 17,000 will act as support and resistance for Nifty50 today. While Bank Nifty would have support and resistance at 35,200 and 36,000."
8:35 am: Expert take
Vinod Nair, Head Of Research at Geojit Financial Services said, "The bounce in the market is showing signs of getting extended further supported by mid and small-cap. High-frequency data like GST collection and PMI have shown a good start to FY23. Crude prices have declined providing an edge to the performance of the Indian market. However, a lot will depend on central bank's policy in India & US, which will be announced in the next two weeks."
8:30 am: SGX Nifty
The Indian market is likely to open higher today as SGX Nifty rose 179 points to 16,789. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Thursday
Benchmark indices ended higher on Thursday, snapping two straight sessions of losses. Sensex rose 436 points to 55,818 and Nifty closed 105 points higher at 16,628. Reliance Industries, Bajaj Finserv, Sun Pharma, HCL Technologies, TCS, Asian Paints, Infosys and IndusInd Bank were among the top Sensex gainers, rising up to 3.51 percent. HDFC, Hindustan Unilever, PowerGrid and HDFC Bank were among the biggest Sensex losers, falling up to 1.69 per cent.
Market cap of BSE-listed firms rose to Rs 259.04 lakh crore on Thursday against 257.02 lakh crore market cap in the previous session.
The Indian market ended lower today amid positive global cues. Sensex fell 48 points to 55,769 and Nifty ended 43 points lower at 16,584 in volatile session.
Benchmark indices ended higher in the previous session, snapping two straight sessions of losses. Sensex rose 436 points to 55,818 and Nifty closed 105 points higher at 16,628. Reliance Industries, Bajaj Finserv, Sun Pharma, HCL Technologies, TCS, Asian Paints, Infosys and IndusInd Bank were among the top Sensex gainers, rising up to 3.51 percent.
Here's what to expect on Dalal Street today.
Stocks in news: Aether Industries, UltraTech Cement, HDFC, TechM and more
3:30 pm: Sensex falls 48 points to 55,769 and Nifty ends 43 points lower at 16,584 in volatile session.
2:44 pm : Ultratech Cement stock hits 52-week low post Rs 12,886-cr capex plan, here's why
Shares of Ultratech Cement fell over 6 per cent on June 3 despite the cement maker announcing an investment of Rs 12,886 crore toward capacity expansion. The weakness on the counter can be attributed to weak demand, high fuel costs and entry of a new player (Adani group). Hence, the stock is reacting negatively to significant capacity announcement by the Aditya Birla Group firm.
In mid-May, the Adani Group, through a special purpose vehicle acquired a significant cement capacity of around 70 million tonnes per annum for $10.5 billion after the exit of Holcim, a swiss cement maker.
The buyout will make Adani Group the second-largest player in India's cement industry, which has an installed capacity of around 500 million tonnes.
Stock of Ultratech Cement declined 6.64 per cent to Rs 5,608 (a fresh 52-week low) against the previous close of Rs 6,007 on BSE.
1:34 pm: Gainers and losers
Top Sensex gainers are RIL, Infosys, Wipro, L&T and HCL Tech, rising up to 3 percent in the afternoon session. Top losers are Ultratech Cement, NTPC and Maruti Suzuki falling up to 5.5 per cent.
12:54 pm: Up to 900% return in just three years! Can you spot multibaggers from this transforming sector?
Not even a single stock from this sector eroded investors’ wealth in the past three years. In fact, as many as 20 stocks rallied more than 100 per cent during June 2019-June 2022 and a dozen of stocks jumped in double-digit during the same period. Can you guess the industry? At present, the sector is in the sweet spot due to structural changes, thanks to various government initiatives which ensure the financial position of the companies remains healthy. This is the sugar sector. Read more
12:34 PM: Indices pare gains
Sensex rises 377 points to 56,196 and Nifty gains 86 points to 16,714 in the afternoon session.
12:05 PM: Services sector PMI reaches 58.9 in May
India’s service sector PMI has expanded at the strongest rate since November 2021 while input costs inflation climbs to a new record, according to rating agency S&P Global India. PMI went up from 57.9 in April to 58.9 in May. The spurt in PMI was backed by a pick-up in new business growth as demand continued to recover after the reopening of the economy since the relaxation of COVID-19 restrictions. READ MORE
11:37 am: Market update
Sensex rises 506 points to 56,325 and Nifty gains 117 points to 16,744.
11:30 AM: RIL stock rises over 3%
Reliance Industries Ltd (RIL) stock rose over 3 per cent amid a market rally today. RIL share rose 3.37 per cent to Rs 2,816 today against the previous close of Rs 2,724 on BSE.
The large-cap share has gained 6.50 per cent in two days. RIL share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.READ MORE
11:15 AM: Rs 1 lakh to Rs 55 lakh: This penny stock turned into a multibagger in a year
The stock of Cressanda Solutions has delivered stellar returns to investors in the last year. Cressanda Solutions shares closed at Rs 35.4 on June 2, 2022 against Rs 0.64 on June 2, 2021 translating into gains of 5,431 per cent during the period. In comparison, Sensex gained 7.61 per cent during the period.READ MORE
10:37 am: Aether Industries stock makes strong debut, lists at 10% premium to issue price
Shares of Aether Industries made a stellar market debut today as the speciality chemicals manufacturer listed at Rs 706.15, a premium of 10 per cent over its issue price of Rs 642 on BSE. The stock listed at Rs 704 on NSE.
A day before listing, Aether Industries commanding a premium of Rs 25-30 in the grey market, signaling a positive listing.
Later, Aether Industries stock zoomed 21 per cent or Rs 134.75 to Rs 776.75 on BSE. It was trading 10 per cent higher to the opening price of Rs 706.15. The market cap of Aether Industries stood at Rs 9,669 crore. A total of 3.82 lakh shares of the firm changed hands amounting to a turnover of Rs 29.24 crore on BSE. Read more
9:48 am: Deepak Nitrite stock slips 5% after fire breaks out at Gujarat facility
Deepak Nitrite stock fell over 5 per cent in early trade today after a massive fire broke out at the company's chemical manufacturing facility in the Nandesari industrial area on the outskirts of Vadodara (Gujarat) on Thursday evening.
The stock has fallen after six days of consecutive gain. It opened with a loss of 4.66 per cent at Rs 1950 on BSE.READ MORE
9:18 am : Sensex rises 488 points to 56,306 and Nifty gains 133 points to 16,761 in opening trade. HCL Tech, Infosys, Wipro top gainers.
8:56 am: Pre-opening market comments
Prashanth Tapse, Vice President (Research), Mehta Equities said, "Markets are expected to start on a firm note tracking solid gains in SGX Nifty and overnight recovery in the US markets. Nifty is building a 'bullish double bottom pattern' aided by India's GDP numbers on expected lines, dovish US Fed, early arrival of monsoon, fresh stimulus in China, and easing curbs in the dragon nation. Nifty bulls' probably will rip to its 200 - DMA 17269 mark, with immediate target seen at 16,897. Stocks that are likely to gain ground Bajaj Finance, Tata Steel, Grasim and Reliance Industries."
8:42 am: Expert take
Mohit Nigam, Head - PMS, Hem Securities said, "Markets are looking to give a strong positive opening with gains of over a percent in Nifty50 as indicated by the SGX. Among the Asian markets, all are positive on the back of the US market being positive after two days of losses. The positive indicators are also coming on the crude front with OPEC plus countries planning to increase production of 648,000 barrels per day from July and August - much required worldwide to tame inflation and help the world to take on faster growth.
Among the stock specific news, Ultratech Cement planned capacity expansion of 22.6 MTPA with investments of closer to 13,000 crores in the brownfield and greenfield projects. Bajaj Auto facing huge inventory shortages due to chip crunch and vendor issues. Aether industries will make its debut in the markets today after the 6.25x subscription of the 808 crore IPO. Also Nifty50 index options faced a fat finger trade yesterday with strike price 14,500 call selling for very low prices while index was trading at 16,500-16,600 levels.
For the benchmark indices, 16,650 and 17,000 will act as support and resistance for Nifty50 today. While Bank Nifty would have support and resistance at 35,200 and 36,000."
8:35 am: Expert take
Vinod Nair, Head Of Research at Geojit Financial Services said, "The bounce in the market is showing signs of getting extended further supported by mid and small-cap. High-frequency data like GST collection and PMI have shown a good start to FY23. Crude prices have declined providing an edge to the performance of the Indian market. However, a lot will depend on central bank's policy in India & US, which will be announced in the next two weeks."
8:30 am: SGX Nifty
The Indian market is likely to open higher today as SGX Nifty rose 179 points to 16,789. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Thursday
Benchmark indices ended higher on Thursday, snapping two straight sessions of losses. Sensex rose 436 points to 55,818 and Nifty closed 105 points higher at 16,628. Reliance Industries, Bajaj Finserv, Sun Pharma, HCL Technologies, TCS, Asian Paints, Infosys and IndusInd Bank were among the top Sensex gainers, rising up to 3.51 percent. HDFC, Hindustan Unilever, PowerGrid and HDFC Bank were among the biggest Sensex losers, falling up to 1.69 per cent.
Market cap of BSE-listed firms rose to Rs 259.04 lakh crore on Thursday against 257.02 lakh crore market cap in the previous session.