Share Market updates: Sensex falls 566 pts, Nifty ends below 17,850; HDFC twins top losers
Sensex tanks 566 points to 59,610 and Nifty ends 149 points lower at 17,807 .
- Apr 6, 2022,
- Updated Apr 6, 2022 4:02 PM IST
Good afternoon!
The Indian equity market ended lower on Tuesday as investors booked profits in banking and financial stocks after sharp gains in the previous session.
Sensex ended 435.24 points or 0.72 per cent lower at 60,176.50 and Nifty lost 96 points or 0.53 per cent to close at 17,957.40.
What's next? Here are the latest updates.
3:30 pm: Sensex tanks 566 points to 59,610 and Nifty ends 149 points lower at 17,807 .
2:45 pm: Maruti Suzuki to increase vehicle prices
The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it will increase prices of its entire model range this month due to a rise in input costs.
Maruti Suzuki India announced that over the past year, vehicles continue to be adversely impacted due to an increase in various input costs. "Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike," the company said in a regulatory filing.
MSI has already hiked vehicle prices by around 8.8 per cent from January 2021 to March 2022 owing to the constant increase in input costs. READ MORE
2:17 pm: Market update
Sensex tanks 600 points to 59,575 and Nifty loses 158 points to 17,999 in the afternoon session.
2:04 pm: Market update
Sensex tanks 503 points to 59,672 and Nifty loses 140 points to 17,817.
1:54 pm: Are Paytm shares worth buying after Vijay Shekhar Sharma's recent assurance?
Paytm, one of the biggest wealth destroyers, managed to attract investors on Wednesday after founder and CEO Vijay Shekhar Sharma assured investors that the fintech major is committed to building a successful and profitable company, which can create long-term value for shareholders. However, market analysts cautioned investors not to jump the gun yet and wait till the firm's business fundamentals improves further. READ MORE
1:30 PM : TCS, Accenture, Cognizant, Infosys among top 25 workplaces: LinkedIn list
Hiring young talent and focusing on women representation and retention is key to creating more job opportunities and companies that have focused on this have ranked among top Indian companies to work with. These include IT bellwethers Tata Consultancy Services (TCS), Accenture, Cognizant and Infosys, as per LinkedIn’s 2022 Top Companies list for India. Read more
1:15 pm: U Gro Capital files for public issue of debentures
U Gro Capital has filed prospectus with Registrar of Companies for the public issue of rated, secured, senior, listed, transferable, redeemable and non-convertible debentures of face value of Rs 1,000 each for an amount of Rs 50 crore (Base Issue Size) with an option to retain over-subscription up to Rs 50 crore. The company seeks to utilise the funds for onward lending, financing, repayment of interest and principal of existing borrowings and towards general corporate purposes.
1:00 pm : Talbros Automotive Components rises 10% after CARE revises credit ratings
Shares of Talbros Automotive Components, a part of ace investor Vijay Kedia's portfolio, hit upper circuit of 10% today after CARE Ratings revised the credit rating on the bank facilities and fixed deposits of the company.
The microcap stock has gained 17.14% in the last four days. Talbros Automotive Components share opened with a gain of 3.2% at Rs 500 today. The stock touched an intraday high of Rs 532.95, rising 10% on BSE.
Talbros Automotive share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 141.37% in one year and risen 34.48% since the beginning of this year. Total 0.11 lakh shares of the firm changed hands amounting to a turnover of Rs 54.71 lakh on BSE. Market cap of the firm rose to Rs 657.96 crore on BSE.
12:24 pm: Market check
Sensex falls 338 points to 59,837 and Nifty down 85 points at 17,871.
12:00 pm: Paytm in focus
Shares of Paytm were trading higher after the company said that the lending business has scaled to 6.5 million loan disbursals, which is a 374 per cent on-year growth, during the quarter ended March. This aggregates to a total loan value of Rs 3,553 crore, which is a year-on-year growth of 417 per cent.
On that occasion, founder and CEO Vijay Shekhar Sharma said that the “team’s phenomenal execution is evident in acceleration of monthly transacting users”. He also predicted operating EBITDA to breakeven in the next six quarters, well ahead of the estimates by analysts.
“While we will publish our fiscal 2022 financial results in due course, we are encouraged by our business momentum, scale of monetisation and operating leverage. We expect this to continue, and I believe we should be operating EBITDA breakeven in next 6 quarters (i.e. EBITDA before ESOP cost, and by the quarter ending September 2023), well ahead of estimates by most analysts. Importantly, we are going to achieve this without compromising any of our growth plans,” Sharma said in a statement.
Read: Vijay Shekhar explains why Paytm shares are down; expects EBITDA to breakeven soon
11:15 am: India's services PMI rises to 53.6 in March; fastest expansion so far this year
India's services sector activity continued to recover in March as containment measures were lifted following a substantial slowdown in growth at the start of the year amid the new wave of COVID-19, a private survey showed.
The S&P Global India Services Purchasing Managers' Index (PMI) increased to a three-month high of 53.6 in March from 51.8 in February.
In PMI parlance, a reading above 50 means expansion, while a score below 50 denotes contraction. This is the services sector's expansion at its fastest pace so far in March this year as an easing of COVID curbs boosted demand, but heightened inflationary pressures clouded business confidence.
Read: India's services PMI rises to 53.6 in March; fastest expansion so far this year
11:00 am: Marico shares tank post Q4 business update
Shares of Marico were trading lower after the company announced an overall summary of the operating performance and demand trends witnessed during the quarter ended March 2022.
"During the quarter, consumption trends remained subdued amidst weak rural sentiment and inflation in global commodities aggravating due to geo-political tensions," the company said.
"While companies effected price hikes across FMCG categories to cope with the cost-push, persistent inflation continued to hurt consumer wallets across rural and urban. As a result, FMCG volumes declined in the Jan-Feb’22 period on a yearon-year basis (per Nielsen)," it added.
10:30 am: Tata Power stock hits 52-week high after firm commissions solar project in Rajasthan
Shares of Tata Power hit a fresh 52-week high today after the firm commissioned a 160 MW AC solar project at Jetsar in Rajasthan. The stock touched an intraday high of Rs 287.9, 5.23% higher than the previous close of Rs 273.60 on BSE.
"Tata Power Solar, one of India's largest integrated solar companies and a wholly-owned subsidiary of Tata Power, commissions a 160MW AC solar project at Jetstar, Rajasthan," the statement said on Tuesday.
Around 6,75,000 monocrystalline PV modules were used in this installation and it will produce 387 million units of energy per year, the company said.
Read: Tata Power stock hits 52-week high after firm commissions solar project in Rajasthan
10:00 am: Ruchi Soya stock tanks 19% after board clears share allotment for FPO
Shares of Ruchi Soya tanked nearly 20% in early trade after the board of the Baba Ramdev-led firm cleared the allotment of 6.61 crore equity shares via a Follow on Public Offer (FPO). The firm plans to raise Rs 4,300 crore from the share sale. Ruchi Soya stock opened 19.36% lower at Rs 706 against the previous close of Rs 875.45 on BSE.
Ruchi Soya stock is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has gained 6.57% in one year and fallen 11.02% since the beginning of this year. Total 2.71 lakh shares of the firm changed hands amounting to a turnover of Rs 20.01 crore on BSE.
The stock hit a 52 week high of Rs 1377 on June 9, 2021 and a 52 week low of Rs 619 on April 22, 2021. Market cap of the firm fell to Rs 22,957 crore on BSE.
Read: Ruchi Soya stock tanks 19% after board clears share allotment for FPO
9:16 am: Market opening
Equity benchmark Sensex opened over 400 points lower at 59,759.66 and Nifty fell over 114 points to 17,842.75.
ICICI Bank and HDFC were the top losers on Sensex, followed by HDFC Bank, RIL and IndusInd Bank.
Tata Steel and NTPC were the top gainers.
8:45 am: FII and DII action
Foreign institutional investors (FIIs) bought shares worth Rs 374.89 crore on April 5, and domestic institutional investors (DIIs) purchased shares worth Rs 105.42 crore, as per provisional data available on NSE.
8:40 am: Global updates
Wall Street's main indices fell on Tuesday, dragged by weakness in tech and other growth stocks, after comments from Federal Reserve Governor Lael Brainard spooked investors about potential aggressive actions by the central bank to control inflation. The tech-heavy Nasdaq posted its biggest daily percentage drop in about a month, with declines in heavyweight stocks such as Apple Inc and Amazon.com Inc.
The Dow Jones Industrial Average fell 280.7 points, or 0.8 percent, to 34,641.18, the S&P 500 lost 57.52 points, or 1.26 percent, to 4,525.12 and the Nasdaq Composite dropped 328.39 points, or 2.26 percent, to 14,204.17.
Shares in Asia-Pacific slipped in Wednesday morning trade, following an overnight surge in the US 10-year Treasury yield. The Nikkei 225 slipped 1.28 percent in morning trade while the Topix index fell 1.04 percent. South Korea’s Kospi dipped 0.89 percent. Elsewhere, the S&P/ASX 200 in Australia declined 0.42 percent.
8:30 am: SGX Nifty
The Indian equity market is likely to open lower today as SGX Nifty was trading 122 points lower at 17,873.50.
The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Tuesday
The Indian equity market ended lower on Tuesday as investors booked profits in banking and financial stocks after sharp gains in the previous session. Sensex ended 435.24 points or 0.72 per cent lower at 60,176.50 and Nifty lost 96 points or 0.53 per cent to close at 17,957.40.
HDFC Bank was the top Sensex loser, followed by Bajaj Finserv, HDFC, Kotak Bank, IndusInd Bank, Bajaj Finance and Reliance Industries falling up to 2.98%. On the other hand, NTPC, PowerGrid, ITC, Titan, TCS and Nestle India were the top Sensex gainers, rising up to 3.40 per cent.
Of the Sensex components, 17 shares closed lower. Banking shares were the top sectoral losers, with BSE bankex falling 586 points to 43,481.
On the other hand, consumer durables shares were the top sectotal gainers with their BSE index rising 1066 points to 43,609. BSE midcap and small cap indices rose 317 points and 400 points, respectively.
Good afternoon!
The Indian equity market ended lower on Tuesday as investors booked profits in banking and financial stocks after sharp gains in the previous session.
Sensex ended 435.24 points or 0.72 per cent lower at 60,176.50 and Nifty lost 96 points or 0.53 per cent to close at 17,957.40.
What's next? Here are the latest updates.
3:30 pm: Sensex tanks 566 points to 59,610 and Nifty ends 149 points lower at 17,807 .
2:45 pm: Maruti Suzuki to increase vehicle prices
The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it will increase prices of its entire model range this month due to a rise in input costs.
Maruti Suzuki India announced that over the past year, vehicles continue to be adversely impacted due to an increase in various input costs. "Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike," the company said in a regulatory filing.
MSI has already hiked vehicle prices by around 8.8 per cent from January 2021 to March 2022 owing to the constant increase in input costs. READ MORE
2:17 pm: Market update
Sensex tanks 600 points to 59,575 and Nifty loses 158 points to 17,999 in the afternoon session.
2:04 pm: Market update
Sensex tanks 503 points to 59,672 and Nifty loses 140 points to 17,817.
1:54 pm: Are Paytm shares worth buying after Vijay Shekhar Sharma's recent assurance?
Paytm, one of the biggest wealth destroyers, managed to attract investors on Wednesday after founder and CEO Vijay Shekhar Sharma assured investors that the fintech major is committed to building a successful and profitable company, which can create long-term value for shareholders. However, market analysts cautioned investors not to jump the gun yet and wait till the firm's business fundamentals improves further. READ MORE
1:30 PM : TCS, Accenture, Cognizant, Infosys among top 25 workplaces: LinkedIn list
Hiring young talent and focusing on women representation and retention is key to creating more job opportunities and companies that have focused on this have ranked among top Indian companies to work with. These include IT bellwethers Tata Consultancy Services (TCS), Accenture, Cognizant and Infosys, as per LinkedIn’s 2022 Top Companies list for India. Read more
1:15 pm: U Gro Capital files for public issue of debentures
U Gro Capital has filed prospectus with Registrar of Companies for the public issue of rated, secured, senior, listed, transferable, redeemable and non-convertible debentures of face value of Rs 1,000 each for an amount of Rs 50 crore (Base Issue Size) with an option to retain over-subscription up to Rs 50 crore. The company seeks to utilise the funds for onward lending, financing, repayment of interest and principal of existing borrowings and towards general corporate purposes.
1:00 pm : Talbros Automotive Components rises 10% after CARE revises credit ratings
Shares of Talbros Automotive Components, a part of ace investor Vijay Kedia's portfolio, hit upper circuit of 10% today after CARE Ratings revised the credit rating on the bank facilities and fixed deposits of the company.
The microcap stock has gained 17.14% in the last four days. Talbros Automotive Components share opened with a gain of 3.2% at Rs 500 today. The stock touched an intraday high of Rs 532.95, rising 10% on BSE.
Talbros Automotive share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 141.37% in one year and risen 34.48% since the beginning of this year. Total 0.11 lakh shares of the firm changed hands amounting to a turnover of Rs 54.71 lakh on BSE. Market cap of the firm rose to Rs 657.96 crore on BSE.
12:24 pm: Market check
Sensex falls 338 points to 59,837 and Nifty down 85 points at 17,871.
12:00 pm: Paytm in focus
Shares of Paytm were trading higher after the company said that the lending business has scaled to 6.5 million loan disbursals, which is a 374 per cent on-year growth, during the quarter ended March. This aggregates to a total loan value of Rs 3,553 crore, which is a year-on-year growth of 417 per cent.
On that occasion, founder and CEO Vijay Shekhar Sharma said that the “team’s phenomenal execution is evident in acceleration of monthly transacting users”. He also predicted operating EBITDA to breakeven in the next six quarters, well ahead of the estimates by analysts.
“While we will publish our fiscal 2022 financial results in due course, we are encouraged by our business momentum, scale of monetisation and operating leverage. We expect this to continue, and I believe we should be operating EBITDA breakeven in next 6 quarters (i.e. EBITDA before ESOP cost, and by the quarter ending September 2023), well ahead of estimates by most analysts. Importantly, we are going to achieve this without compromising any of our growth plans,” Sharma said in a statement.
Read: Vijay Shekhar explains why Paytm shares are down; expects EBITDA to breakeven soon
11:15 am: India's services PMI rises to 53.6 in March; fastest expansion so far this year
India's services sector activity continued to recover in March as containment measures were lifted following a substantial slowdown in growth at the start of the year amid the new wave of COVID-19, a private survey showed.
The S&P Global India Services Purchasing Managers' Index (PMI) increased to a three-month high of 53.6 in March from 51.8 in February.
In PMI parlance, a reading above 50 means expansion, while a score below 50 denotes contraction. This is the services sector's expansion at its fastest pace so far in March this year as an easing of COVID curbs boosted demand, but heightened inflationary pressures clouded business confidence.
Read: India's services PMI rises to 53.6 in March; fastest expansion so far this year
11:00 am: Marico shares tank post Q4 business update
Shares of Marico were trading lower after the company announced an overall summary of the operating performance and demand trends witnessed during the quarter ended March 2022.
"During the quarter, consumption trends remained subdued amidst weak rural sentiment and inflation in global commodities aggravating due to geo-political tensions," the company said.
"While companies effected price hikes across FMCG categories to cope with the cost-push, persistent inflation continued to hurt consumer wallets across rural and urban. As a result, FMCG volumes declined in the Jan-Feb’22 period on a yearon-year basis (per Nielsen)," it added.
10:30 am: Tata Power stock hits 52-week high after firm commissions solar project in Rajasthan
Shares of Tata Power hit a fresh 52-week high today after the firm commissioned a 160 MW AC solar project at Jetsar in Rajasthan. The stock touched an intraday high of Rs 287.9, 5.23% higher than the previous close of Rs 273.60 on BSE.
"Tata Power Solar, one of India's largest integrated solar companies and a wholly-owned subsidiary of Tata Power, commissions a 160MW AC solar project at Jetstar, Rajasthan," the statement said on Tuesday.
Around 6,75,000 monocrystalline PV modules were used in this installation and it will produce 387 million units of energy per year, the company said.
Read: Tata Power stock hits 52-week high after firm commissions solar project in Rajasthan
10:00 am: Ruchi Soya stock tanks 19% after board clears share allotment for FPO
Shares of Ruchi Soya tanked nearly 20% in early trade after the board of the Baba Ramdev-led firm cleared the allotment of 6.61 crore equity shares via a Follow on Public Offer (FPO). The firm plans to raise Rs 4,300 crore from the share sale. Ruchi Soya stock opened 19.36% lower at Rs 706 against the previous close of Rs 875.45 on BSE.
Ruchi Soya stock is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has gained 6.57% in one year and fallen 11.02% since the beginning of this year. Total 2.71 lakh shares of the firm changed hands amounting to a turnover of Rs 20.01 crore on BSE.
The stock hit a 52 week high of Rs 1377 on June 9, 2021 and a 52 week low of Rs 619 on April 22, 2021. Market cap of the firm fell to Rs 22,957 crore on BSE.
Read: Ruchi Soya stock tanks 19% after board clears share allotment for FPO
9:16 am: Market opening
Equity benchmark Sensex opened over 400 points lower at 59,759.66 and Nifty fell over 114 points to 17,842.75.
ICICI Bank and HDFC were the top losers on Sensex, followed by HDFC Bank, RIL and IndusInd Bank.
Tata Steel and NTPC were the top gainers.
8:45 am: FII and DII action
Foreign institutional investors (FIIs) bought shares worth Rs 374.89 crore on April 5, and domestic institutional investors (DIIs) purchased shares worth Rs 105.42 crore, as per provisional data available on NSE.
8:40 am: Global updates
Wall Street's main indices fell on Tuesday, dragged by weakness in tech and other growth stocks, after comments from Federal Reserve Governor Lael Brainard spooked investors about potential aggressive actions by the central bank to control inflation. The tech-heavy Nasdaq posted its biggest daily percentage drop in about a month, with declines in heavyweight stocks such as Apple Inc and Amazon.com Inc.
The Dow Jones Industrial Average fell 280.7 points, or 0.8 percent, to 34,641.18, the S&P 500 lost 57.52 points, or 1.26 percent, to 4,525.12 and the Nasdaq Composite dropped 328.39 points, or 2.26 percent, to 14,204.17.
Shares in Asia-Pacific slipped in Wednesday morning trade, following an overnight surge in the US 10-year Treasury yield. The Nikkei 225 slipped 1.28 percent in morning trade while the Topix index fell 1.04 percent. South Korea’s Kospi dipped 0.89 percent. Elsewhere, the S&P/ASX 200 in Australia declined 0.42 percent.
8:30 am: SGX Nifty
The Indian equity market is likely to open lower today as SGX Nifty was trading 122 points lower at 17,873.50.
The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Tuesday
The Indian equity market ended lower on Tuesday as investors booked profits in banking and financial stocks after sharp gains in the previous session. Sensex ended 435.24 points or 0.72 per cent lower at 60,176.50 and Nifty lost 96 points or 0.53 per cent to close at 17,957.40.
HDFC Bank was the top Sensex loser, followed by Bajaj Finserv, HDFC, Kotak Bank, IndusInd Bank, Bajaj Finance and Reliance Industries falling up to 2.98%. On the other hand, NTPC, PowerGrid, ITC, Titan, TCS and Nestle India were the top Sensex gainers, rising up to 3.40 per cent.
Of the Sensex components, 17 shares closed lower. Banking shares were the top sectoral losers, with BSE bankex falling 586 points to 43,481.
On the other hand, consumer durables shares were the top sectotal gainers with their BSE index rising 1066 points to 43,609. BSE midcap and small cap indices rose 317 points and 400 points, respectively.