Share Market UPDATE: Sensex falls 537 pts, Nifty ends below 17,100; Bajaj twins top losers

Good afternoon!

Equity markets closed higher on Tuesday led by gains in Titan, and Mahindra &Mahindra amid positive global cues. Sensex rose 776 points to 57,356 and Nifty ended 246 points higher at 17,200. PowerGrid, Titan, M&M , IndusInd  Bank and Bajaj Finance shares were the top Sensex gainers, rising up to 3.93 per cent.

What's next? Here are the latest updates!

3:30 pm: Closing update

 Sensex fell 537 points to 56,819 and Nifty slipped 162 points to 17,038 on weak global cues.

2:43 pm: Dilip Buildcon shares surge 7% amid market crash

Shares of Dilip Buildcon surged over 7 per cent amid a falling market today after the firm was declared L1 bidder for a tender by National Highway Authority of India (NHAI) in Jharkhand. The project is worth Rs 976 crore.

Dilip Buildcon stock surged 7.49 per cent intra day to Rs 285.6 against the previous close of Rs 265.70 on BSE.

2:11 pm: Expert take

Sakshi Jain, Senior Research Analyst, Capitalvia Global Research said, "In the late morning session, Indian equities benchmarks remained under pressure, weighed down by bearish indications from other Asian markets. The epidemic appeared to have harmed the prospects of beneficiaries wishing to enrol in minority programmes, according to a confidential assessment. While government spending on minority initiatives peaked in 2019-20, with the government investing Rs 6,575 crore, it has subsequently decreased.

Asian markets were generally in the red on the global front after Singapore's industrial production expanded at a slower rate in March. Industrial output increased 3.4 percent year over year in March, following a 17.5 percent increase in February, according to figures from the Economic Development Board. Industrial production increased 9.7% year over year in March, excluding biomedical manufacturing, after increasing 16.6% the previous month."

1:45 pm: Upstox makes key appointments

Upstox, one of India's largest investment platforms, announced the appointment of three senior executives to the leadership team. The company has hired Sudeep Ralhan as Chief Human Resources Officer, Manoj Agarwal as Head of Compliance and Sriram Krishnan as Vice President - Information Security.

1:10 pm: Rainbow Children's Medicare IPO in progress: Should you subscribe to the issue?

The initial public offer (IPO) of Rainbow Children's Medicare opened today. The multi-specialty hospital chain plans to raise over Rs 1,581 crore from the primary market.The firm has already raised Rs 469.55 crore from 36 anchor investors ahead of the IPO. In a filing to the BSE, Rainbow Children's Medicare said it had finalised the allocation of 86.63 lakh shares to anchor investors at a price of Rs 542 apiece after consulting its book-running lead managers. ALSO READ

12:50 pm: Market update

Sensex was trading 756 points lower at 56,599 and Nifty fell 215 points to 16,985 in the afternoon session.

12:26 pm: Reliance Industries at all-time high; crosses Rs 19 lakh cr m-cap for the first time

Of late, the shares of energy-to-telecom behemoth Reliance Industries have been on a roll. The stock jumped over 1 per cent to hit an all-time high of Rs 2827.10 on BSE in early trade on Wednesday.

The market cap of the Mukesh Ambani-led conglomerate also crossed Rs 19 lakh crore mark and it became the first company to cross that historic mark. ALSO READ

12:00 pm: Sensex tanks over 500 points, Nifty holds 17,000

11:00 am: Bajaj Auto stock falls ahead of Q4 earnings

Shares of Bajaj Auto were trading lower ahead of its Q4 and fiscal earnings today. The stock has fallen after two days of gain. Bajaj Auto shares opened lower at Rs 3,847 against the previous close of Rs 3,890 on BSE. They touched an intraday high of Rs 3,888 and an intraday low of Rs 3,847.60 today.

At 10:02 am, the stock was trading 0.61 per cent lower at Rs 3,866. The large cap share is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.  A total of 3,454 shares of the firm changed hands, amounting to a turnover of Rs 1.33 crore on the BSE.  

Market cap of the company stood at Rs 1.11 lakh crore.  

Bajaj Auto stock hit a 52-week high of Rs 4,347.95 and a 52-week low of Rs 3,028.35. The stock has gained 2.52 per cent in a year and gained 19.32 per cent this year.  Read more

10:00 am: Bajaj Finance tanks 5% post earnings

Shares of Bajaj Finance declined over 5 per cent to hit an intraday low of Rs 6855.45 on BSE in early trade on Wednesday after the company reported earnings for the quarter ended March 2022. 

The company reported highest ever consolidated net profit at Rs 2,420 crore for the quarter ended 31 March, 2022, an 80 per cent surge year-on-year. It had reported a net profit of Rs 1,346 crore in the year-ago period. 

Bajaj Finance's net interest income (NII) increased 30 per cent to Rs 6,068 crore from Rs 4,659 crore in Q4FY21. The company's assets under management came at record Rs 197,452 crore including IPO financing receivables of Rs 5,365 crore), up 29 per cent YoY from Rs 152,947 crore in Q4FY21, it said in a regulatory filing. Core AUM growth came in at Rs10,837 crore.

The stock opened a tad lower at Rs 7,100 against the previous close of Rs 7240.70. With a market capitalisation of Rs 4,16,825 crore, the shares stand lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

9:16 am: Sensex tanks over 400 pts, Nifty holds 17,000; Bajaj Finance drops 3%

Sensex opened 411 points lower at 56,944.84 and Nifty fell 127 points to 17,073.35 amid weak global cues.

Bajaj Finance was the top loser on Sensex, declining over 3 per cent, followed by L&T, Infosys and Bajaj Finserv.

8:50 am:  FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 1,174.05 crore on April 26, and domestic institutional investors (DIIs) bought shares worth Rs 1,643.84 crore, as per provisional data available on NSE.

8:40 am: Global updates

More sharp declines in Big Tech stocks sent the Nasdaq composite down 4 percent Tuesday, the worst drop for the tech-heavy index since September 2020. The S&P 500 fell 2 percent. The Dow Jones Industrial Average fell 627 points, or 1.8 percent, to 33,427 and the Nasdaq fell 3 percent.

Shares in Asia-Pacific fell on Wednesday morning after overnight losses saw the tech-heavy Nasdaq Composite sliding to a fresh low for 2022. The Nikkei 225 in Japan declined 2.15 percent, while the Topix index dropped 1.61 percent. South Korea's Kospi shed 1.75 percent.

8:20 am: SGX Nifty

The Indian equity market is likely to open on a negative note today as SGX Nifty was trading 150 points lower at 17,060.

The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Tuesday

Equity markets closed higher on Tuesday led by gains in Titan, and Mahindra &Mahindra amid positive global cues.

Sensex rose 776 points to 57,356 and Nifty ended 246 points higher at 17,200. PowerGrid, Titan, M&M , IndusInd  Bank and Bajaj Finance shares were the top Sensex gainers, rising up to 3.93 per cent.

Axis Bank, Asian Paints, Maruti Suzuki and TCS were the only losers, falling up to 0.72 per cent.

BSE mid-cap and small-cap indices rose 391 points and 219 points, respectively. Among BSE sectoral indices, auto and consumer durables were the top gainers rising 692 points and 932 points, respectively.