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Share Market update: Sensex falls 105 pts, Nifty below 16,350; Tata Steel, Sun Pharma top losers

Share Market update: Sensex falls 105 pts, Nifty below 16,350; Tata Steel, Sun Pharma top losers

The Indian equity market is likely to open on a negative note today as SGX Nifty was trading lower at 16,209.

Share Market LIVE: Sensex, Nifty likely to open lower today Share Market LIVE: Sensex, Nifty likely to open lower today

Good morning!

Indian market fell for the second straight session on Monday amid weak global cues. Sensex ended 364 points lower at 54,470 and Nifty lost 109 points to 16,301 in the first trading session of this week. 

What's next? Here are the latest updates.

3:32 pm: Sensex ends 105 points lower at 54,364 and Nifty slips 62 points to 16,240.

3:25 pm : Market volatility will push investors to real estate, realtors say

After the announcement of a rate hike by India's central bank led to home loans getting expensive and is expected to have an impact on the real estate sector, realtors say that the volatility in the stock market will push investors to real estate. Despite apprehensions, the real estate purchase surge may continue to help the realty business recover from pandemic pressures. READ MORE

3:07 pm: Sensex fell 49 points to 54,421 and Nifty lost 42 points to 16,259

3:00 pm: Sun Pharma stock falls 4%

Shares of Sun Pharma fell over 4 per cent today after the firm said the US FDA issued 10 observations for its Halol Plant. The stock slipped 4.41 per cent to Rs 846.35 against the previous close of Rs 885.35 on BSE. The stock has fallen after two days of consecutive gain. Shares of Sun Pharma trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.

2:22 pm : 55,000% up in 15 yrs, 24% down in 5 yrs! Will this small-cap run again post Q4 results?

Investing is all about scuttlebutt, research, picking the right stock and, most important, exiting at an appropriate time. Those who master the last step can protect their gains on Dalal Street. In the equity market, there are a couple of case studies which have halted investors’ wealth creation journey after delivering a massive return in the long run. Symphony is one of them.

Share price movement

With a fall of 24 per cent, shares of the cooler major have underperformed the benchmark equity index BSE Sensex (up 82 per cent) in the past five years. Before wiping off some of the gains, the scrip had climbed 72,725 per cent between May 2007-2017. Overall, shares of Symphony have gained 55,337 per cent in the past 15 years till date.READ MORE

1:04 pm: Market update

 Sensex rises 302 points to 54,773 and Nifty gains 70 points to 16,370.

12:45 pm: PVR stock rises nearly 5% post Q4 earnings

Shares of multiplex chain operator PVR rose over 4 per cent today after the firm reported narrowing of its consolidated loss for the quarter ended March 2022. PVR stock touched an intraday high of Rs 1,785.2, rising 4.71 per cent against the previous close of Rs 1704.95 on BSE.

Shares of PVR are trading higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

The stock has gained 53 per cent in a year and risen 35.78 per cent in 2022. Total 0.58 lakh shares of the firm changed hands amounting to a turnover of Rs 10.18 crore on BSE.  Market cap of the firm rose to Rs 10,757 crore.

12:00 pm: Top gainers and losers

UltraTech Cement was the top gainer on Sensex, advancing over 3 per cent, followed by HUL, Maruti Suzuki, Asian Paints and IndusInd Bank.

Sun Pharma and Tata Steel were the top losers.

11:40 am: SBI hikes rates on most bulk term deposits by 40-90 bps w.e.f today

11:00 am: Delhivery IPO to open on May 11

The initial public offer (IPO) of logistics services provider Delhivery will open on Wednesday (May 11). The firm aims to raise Rs 5,235 crore from the share sale, which will close on May 13. The size of the IPO has been cut to Rs 5,235 crore from Rs 7,460 crore planned earlier.

Shares are available in a price band of Rs 462 to Rs 487 per equity share. Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd, BofA Securities India Limited, and Citigroup Global Markets India Private Limited are the book running lead managers for the issue.

The allotment of shares will be done on May 19. The lot size of the IPO is 30 shares for which one will have to spend Rs 14,610.  

A retail individual investor can apply for up to 13 lots or 390 shares by spending Rs 1,89,930. The stock is likely to be listed on BSE and NSE on May 24. Employees will get a discount of Rs 25 per share.

10:30 am: Adani Wilmar stock hits lower circuit for fifth day

Shares of Adani Wilmar hit a lower circuit of 5 per cent for the fifth straight session today as investors continued to book profit from a record high in late April. The stock hit a lower circuit of 5 per cent in early trade today. It opened 5 per cent lower at Rs 583.25 on BSE. The market cap of the firm fell to Rs 75,803 crore. Total 0.17 lakh shares of the firm changed hands amounting to a turnover of Rs 3.05 crore on BSE. The stock has gained 6.07 per cent in a month but lost 22.61 per cent in a week.

The large-cap stock trades higher than 50-day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages. Adani Wilmar stock has lost 30.61 per cent in the last eight sessions. It is down Rs 295 or 33.59 per cent from its all-time high hit on April 28, 2022.

As profit booking has dragged the stock from record high, here's a look at what analysts and brokerages expect from the share in the near term.

9:20 am: Sensex jumps over 140 points and Nifty was trading 26 points higher at 16,328.

9:16 am: Market opening

Sensex opened flat, 40 points higher at 54,510.68 and Nifty fell 52 points to 16,248.90.

Asian Paints was the top gainer on Sensex, advancing over 2 per cent, followed by Maruti Suzuki, HUL and SBI.

8:45 am:  FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 3,361.80 crore on May 9, and domestic institutional investors (DIIs) purchased shares worth Rs 3,077.24 crore, as per provisional data available on NSE.

8:30 am: Global updates

The S&P 500 ended below 4,000 for the first time since late March 2021 and the Nasdaq dropped more than 4% on Monday in a selloff led by mega-cap growth shares as investors grew more concerned about rising interest rates.

The Nasdaq closed at its lowest level since November 2020. Apple shares dropped 3.3% and were the biggest weight on the Nasdaq and the S&P 500. Microsoft Corp dropped 3.7% and Tesla Inc fell 9.1%.

The Dow Jones Industrial Average fell 653.67 points, or 1.99%, to 32,245.7, while the S&P 500 lost 132.1 points, or 3.20%, to 3,991.24, its lowest close since March 31, 2021. The Nasdaq Composite dropped 521.41 points, or 4.29%, to 11,623.25

Asian shares tumbled to their lowest in nearly two years on Tuesday as investors shed riskier assets on worries about higher interest rates and their impact on economic growth, while the dollar held near 20-year highs.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.8%, falling for a seventh straight session and extending declines to 17% so far this year. Across Asia, share indexes were a sea of red. The Nikkei lost 0.9%, Australian shares shed 2.5% and Korean stocks lost 2%.

8:15 am: SGX Nifty

The Indian equity market is likely to open on a negative note today as SGX Nifty was trading lower at 16,209.

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

8:10 am: Market on Monday

Indian market fell for the second straight session on Monday amid weak global cues. Sensex ended 364 points lower at 54,470 and Nifty lost 109 points to 16,301 in the first trading session of this week. 

Top Sensex losers were Reliance Industries, IndusInd Bank, Nestle India, Tata Steel and Tech Mahindra falling up to 3.97 percent.

PowerGrid, HCL Tech, Infosys and Maruti Suzuki were among the top Sensex gainers, rising up to 2.83 percent.

Investor wealth declined to Rs 251.91 lakh crore today. Of 30 Sensex stocks, 17 ended in the red. The market breadth was negative with 1052 shares ending higher against 2416 stocks falling in the red. 146 shares were unchanged.

BSE mid-cap and small-cap indices crashed 437 points and 451 points, respectively.

IT shares were among the top gainers after rupee fell to its record low. The BSE IT index rose 29 points to 31,077.