scorecardresearch
Share Market Update: Sensex falls 276 pts, Nifty holds 16,100; L&T, Bajaj Twins top gainers

Share Market Update: Sensex falls 276 pts, Nifty holds 16,100; L&T, Bajaj Twins top gainers

Sensex tanked 276 points to 54088 and Nifty slipped 73 points to 16,167 in volatile trade.

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

Good afternoon!

Indian market fell for the third straight session on Tuesday amid weak global cues. Sensex ended 105 points lower at 54,364 and Nifty lost 61 points to 16,240 in the second trading session of this week. 

What's next? Here are the latest updates!

Market update

3:30 pm: Sensex tanked 276 points to 54088 and Nifty slipped 73 points to 16,167 in volatile trade.

3:00 PM: Adani Wilmar, Adani Green, Adani Power, other group stocks down up to 34% from all-time high; what's next?

Billionaire Gautam Adani-led Adani group of stocks have tanked up 34 per cent from respective their all-time highs due to stretched valuations amid the ongoing correction in the global equity market. Data shows that recently listed Adani Wilmar cracked the most 33.60 per cent from their all-time high of Rs 878.35, scaled on April 28, 2022. On the other hand, the benchmark BSE Sensex plunged 12.66 per cent to 54,364.85 on May 10, 2022 against its lifetime high of 62,245.43, which hit on October 19, 2021. Read  More

2:15 pm: Aurobindo Pharma stock slips 7 percent

Aurobindo Pharma stock slips 7 percent to Rs 560.6 after USFDA issues six observations to an oral manufacturing facility situated at Jedcherla, Hyderabad, from May 2 to May 10, 2022.

"The United States Food and Drug Administration (US FDA) inspected Company’s Unit VII, an oral manufacturing facility situated at Jedcherla, Hyderabad, from May 2 to May 10, 2022. At the end of the inspection, we have been issued a ‘Form 483’ with six observations.The company will respond to the US FDA within the stipulated timeline and work closely with US FDA to close the observations," said the firm.

1:00 pm: Sensex tanks 681 points to 53,683 and Nifty slipped 222 points to 16,018 in the afternoon session.

12:54 pm: Adani Power stock slips 5%, down for third straight session

Shares of Adani Power hit lower circuit of 5 per cent for the second consecutive session amid the ongoing market correction. Adani Power stock fell 4.99 percent to Rs 254.25 against the previous close of Rs 267.60 on BSE.

On Tuesday, the stock closed 5 per cent lower against the previous close of Rs 281.65 on BSE. The share has fallen 12 per cent in the last three sessions. The stock opened with a loss of 3.49 percent at Rs 258.25 today. Market cap of the firm fell to Rs 98,062 crore. Total of 30.30 lakh shares of the firm changed hands amounting to a turnover of Rs 98,062 crore on BSE.

11:00 am: Sensex tanks over 400 points

10:30 am: Asian Paints shares tank 3% post earnings

Shares of Asian Paints were trading 3 per cent lower in early trade on Wednesday a day after the company reported a marginal decline in its consolidated net profit at Rs 850 crore for the fourth quarter ended March 2022. 

Asian Paints had reported a net profit of Rs 852 crore in the year-ago period.

However, the revenue from operations rose 18.6 per cent to Rs 7,893 crore from Rs 6,651 crore in the same quarter last fiscal, it said in a regulatory filing.

10:00 am: Adani Wilmar stock rebounds after falling for eight straight sessions

Shares of Adani Wilmar hit an upper circuit of 5 per cent in early trade today after falling for eight straight sessions. Adani Wilmar stock opened 5 per cent lower at Rs 554.10 on BSE. However, it hit upper circuit of 5 per cent, rising to Rs 612.40. 

The stock opened 5% lower at Rs 554.10 on BSE. However, it hit the upper circuit of 5%, rising to Rs 612.40. 

Market cap of the firm rose to Rs 79,592 crore. Total of 4.03 lakh shares of the firm changed hands amounting to a turnover of Rs 23.15 crore on BSE. 

9:16 am: Market opening

Sensex was trading over 100 points higher at 54,466.81 and Nifty jumped 62 points to 16,302.15.

8:35 am: Global updates

The S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day's selloff as Treasury yields tumbled. Bank shares fell along with yields. The benchmark 10-year note yield dropped from more than a three-year high to below 3 percent.

The Dow Jones Industrial Average fell 84.96 points, or 0.26 percent, to 32,160.74, the S&P 500 gained 9.81 points, or 0.25 percent, to 4,001.05 and the Nasdaq Composite added 114.42 points, or 0.98 percent, to 11,737.67.

Oil falls on uncertainty over Russian energy embargo by EU. Oil edged lower in early Asian trade on Wednesday, sustaining the previous session's weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union.

Brent crude was down 86 cents, or 1.1 percent, at $101.60 a barrel by 0002 GMT. US West Texas Intermediate crude fell 80 cents, or 0.8 percent, to $98.96 a barrel.

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 16,188.

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

8:10 am: Market on Tuesday

Indian market fell for the third straight session on Tuesday amid weak global cues. Sensex ended 105 points lower at 54,364 and Nifty lost 61 points to 16,240 in the second trading session of this week. Top Sensex losers were Tata Steel, Sun Pharma, NTPC, and Titan falling up to 6.95 percent.

HUL, IndusInd Bank and Asian Paints were among the top Sensex gainers, rising up to 3.24 percent.

Investor wealth declined to Rs 248.42 lakh crore today against Rs 251.91 lakh crore in the previous session. Of 30 Sensex stocks, 18 ended in the red. The market breadth was negative with 879 shares ending higher against 2476 stocks falling in the red. 132 shares were unchanged.

BSE mid-cap and small-cap indices crashed 449 points and 562 points, respectively. Metals, consumer durables, and IT stocks were the top sectoral losers with their BSE indices plummeting 1140 points, 865 points and 380 points, respectively.