The Indian market opened higher today amid mixed global cues. Sensex rose 121 points to 54,409 and Nifty gained 24 points to 16,238 in early trade.
On Monday, the Indian equity market ended flat in a highly volatile session. Sensex closed 37.78 points or 0.07 per cent lower at 54,288.61. The broader NSE Nifty declined 51.45 points or 0.32 per cent to close at 16,214.70.
Tata Steel was the top Sensex loser, slipping 12.53 per cent, followed by UltraTech Cement, ITC, Power Grid, HDFC, HDFC Bank, HCL Technologies, and Reliance Industries.
M&M, Maruti, Hindustan Unilever, Larsen & Toubro, Asian Paints, and Kotak Mahindra Bank were among the top sectoral gainers, rising up to 4.14 per cent.
Here's a look at live updates of the market action today.
3:30 pm: Sensex falls 236 points to 54,052 and Nifty ends 89 points lower at 16,125.
2:41 pm: Sugar stocks crash up to 11% on plan to restrict exports
Sugar stocks fell up to 11 percent in afternoon session today on a report that the government plans to restrict sugar exports for the first time in six years to prevent a surge in domestic prices. Read More
1:21 PM : Adani Wilmar stock falls after six days, hits 5% lower circuit
Shares of Adani Wilmar fell 5 per cent today amid volatile sentiment in the broader indices. Adani Wilmar stock opened 4.91 per cent higher at Rs 772.90 today against the previous close of Rs 736.70. However, the Adani Group stock turned red and slipped 5 percent to Rs 699.90 on BSE.
The stock has fallen after six days of consecutive gain. At 1:05 pm, the stock was trading 3.62 percent lower at Rs 710 on BSE. READ MORE
12:43 pm: Sensex rises 108 points to 54,396 and Nifty gains 7 points to 16,222 in the afternoon session.
11:45 am: Aether Industries IPO in progress
The initial public offer (IPO) of speciality chemical manufacturer Aether Industries opened today. The issue size of the IPO is Rs 808 crore. The IPO consists of a fresh issue of Rs 627 crore, and an offer for sale of Rs 181 crore.
The company raised over Rs 240.32 crore from anchor investors on May 23. The firm informed the bourses that it has allocated 37,42,495 shares at Rs 642 per share to anchor investors.
11:17 am : Sensex gainers
Dr Reddy's, PowerGrid, M&M, and Kotak Mahindra Bank are the top Sensex gainers, rising up to 2.01 percent.
10:40 am: Aditya Birla Fashion to raise Rs 2,195 crore from Singapore-based GIC
Aditya Birla Fashion and Retail Limited (ABFRL) stated on Tuesday that its board has approved the raising of up to Rs 2,195 crore from Singapore's sovereign wealth fund, GIC, by way of preferential issue of equity and warrants.
GIC will invest Rs 770 crore now towards subscription of equity and warrants and follow it up by pumping in Rs 1,425 crore in one or more tranches within 18 months. After the investment, GIC will own a 7.5 per cent equity stake in ABFRL, while Aditya Birla Group will hold a 51.9 per cent stake in the company. The transaction is subject to regulatory and other customary approvals. READ MORE
10:20 am: Indices turn red
Sensex slips 231 points to 54,056 and Nifty loses 82 points to 16,132 in early trade.
10:00 am: Delhivery stock makes flat market debut, lists at 1.68% premium to issue price
Shares of logistics services provider Delhivery listed at a premium of 1.68 per cent today against the IPO issue price. The company offered its shares in a price band of Rs 462 to Rs 487. The stock listed at Rs 495.20 on NSE. Market cap of Delhivery stood at Rs 35,877 crore. Total 3.68 lakh shares of the firm changed hands amounting to a turnover of Rs 18.24 crore on NSE. ALSO READ
9:16 am: Zomato zooms 18% post Q4 earnings
Shares of Zomato rose over 18 per cent in early trade despite the food delivery giant reporting widening of its consolidated net loss in the last quarter. The large cap stock gained 18.6 percent to Rs 67.6 against the previous close of Rs 57 on BSE.
9:15 am: Sensex rises 121 points to 54,409 and Nifty gains 24 points to 16,238 in early trade.
8:56 am: Expert quote
Prashanth Tapse, Vice President (Research), Mehta Equities said, "Tracking overnight recovery in US markets and SGX Nifty flirting above the dotted lines, domestic indices are set to open on a firm note. Some constructive buying is quite likely on media reports that President Joe Biden has suggested that he might lift tariffs on Chinese goods. All eyes will be on the speech by Fed Chair Jerome Powell scheduled for Tuesday. The FOMC minutes later on Wednesday will provide cues on the central bank's rate-hike path. The second reading of 1st -quarter U.S GDP will trickle out on Thursday. Last 2-days technical indicators do suggest directional strength as Nifty could aim to move higher and consolidate near the 16411-16657 hurdle zone. We believe, Nifty has hit the market bottom, and it makes sense to buy at current levels."
8:35 am : Delhivery
The firm will make its stock market debut today.
8:32 am : Global markets
Asian shares slipped on Tuesday as relief at a rally on Wall Street was quickly soured by a slide in U.S. stock futures, while the euro held near one-month highs as odds narrowed on a July rate rise by the ECB.
After ending Monday firmer, Nasdaq futures lost 1.4%, with traders blaming an earnings warning from Snap which saw shares in the Snapchat owner tumble 28%.
S&P 500 futures also slipped 0.8%, surrendering some of Monday's 1.8% bounce.
8:30 am: SGX Nifty
The Indian market is likely to open higher today as SGX Nifty rose 29 points to 16,205. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Monday
Sensex closed 37.78 points or 0.07 per cent lower at 54,288.61. The broader NSE Nifty declined 51.45 points or 0.32 per cent to close at 16,214.70.
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