Benchmark equity indices Sensex and Nifty ended lower on Friday due to fag-end selling in Axis Bank, Reliance Industries and Infosys.
The 30-share BSE benchmark plummeted 460.19 points or 0.80 per cent to end at 57,060.87 despite a firm opening. Nifty tanked 142.50 points or 0.83 per cent to 17,102.55.
The domestic equity market settled the volatile week in the red as market participants preferred to stay on the sidelines amid aggressive US Fed tightening and China Covid fear.
What's next? Here are the latest updates!
3:35 pm: Sensex falls 85 points to 56,975 and Nifty ends 33 points lower at 17,063.
3:31 pm : Expert quote
S Ranganathan, Head of Research at LKP Securities said, "Markets opened gap down on the back of weak global cues ahead of the FOMC meet but managed to recoup most of the losses as factory output for April improved sequentially amidst input cost inflation. Banks led the recovery on expectations of higher credit growth this fiscal and the broader markets despite being a bit sluggish ahead of a trading holiday tomorrow witnessed accumulation in select pockets like standalone refineries and hospitality"
3:15 pm: LIC IPO: Paytm Money launches QR codes for demat account; details here
In a bid to make the LIC IPO accessible to people, Paytm’s parent company One97 Communications has announced that Paytm Money has started placing QR codes across kirana or mom-n-pop stores. Any individual will be able to create their demat accounts for free and place their bids for LIC IPO using these QR codes. Demat account is mandatory for anyone wanting to trade in stock markets. Read More
2:53 pm: Latest update
Sensex falls 85 points to 56,975 and Nifty slips 38 points to 17,063 in the afternoon session.
2:30 pm: HDFC Q4 results: Net profit rises 16% to Rs 3,700 cr
The country's largest mortgage lender HDFC Ltd on Monday reported 16 per cent year-on-year rise in its standalone net profit at Rs 3,700 crore for the quarter ended 31 March, 2022. The company had reported a net profit of Rs 3,180 crore for the year-ago period. The total revenue from operations increased 5 per cent to Rs 12,300 crore in the quarter under review as against Rs 11,697 crore in the same quarter last fiscal, the Housing Development Finance Corporation (HDFC) said. Read More
1:45 pm: LIC IPO opens for anchor investors today
The initial public offer (IPO) of Life Insurance Corporation of India (LIC) has opened for anchor investors today. Usually, an IPO is open for anchor investors a day before the issue opens but since the IPO will open on May 4 and the Indian stock market is closed on May 3 on account of Id-Ul-Fitr, anchor investors have been allowed to bid for the share sale today. LIC plans to raise up to Rs 5,630 crore at the upper end of the price band from the anchor investors.
The state-run insurer has reserved 59.29 million shares for anchor investors. The Sebi has allowed LIC to sell 3.5 per cent stake or 22,13,74,920 shares in the insurer through the IPO. Earlier, the government planned to sell 5 per cent stake in the IPO but trimmed the share sale to 3.5 per cent due to volatile market conditions.
1:04 pm: Wipro, Titan and Tech Mahindra are the top Sensex losers , falling up to 3 per cent in the afternoon session.
12:55 pm: Latest update
Sensex falls 226 points to 56,834 and Nifty loses 87 points to 17,014.
12:22 pm Tata Chemicals stock zooms 11% post Q4 earnings
Shares of Tata Chemicals zoomed over 11 per cent today after the Tata Group firm announced a multifold rise in net profit for the quarter ended March 2022. Tata Chemicals stock rose 11.37 per cent to Rs 1047.75 against the previous close of Rs 940.75 on BSE. The stock has gained after two days of consecutive fall. The stock opened 2.29 per cent higher at Rs 962.30 against the previous close of Rs 940.75 on BSE.
12:00 pm: Wipro shares tank 3% post Q4 earnings
Shares of IT services company Wipro Limited were trading lower after the company reported earnings for the quarter ended March 2022.
The company posted 3.8 per cent year-on-year rise in consolidated net profit at Rs 3,087 crore for the quarter ended March 2022. The company had reported a net profit of Rs 2,972 crore in the year-ago period.
Sequentially, the net profit increased 3.9 per cent from Ts 2,969 crore in the previous quarter (Q3FY22).
Wipro's revenues rose 28 per cent to Rs 20,860 crore in the quarter under review as compared to Rs 16,245 crore in the same quarter last fiscal. Meanwhile, IT services segment revenue was at $2,721.7 million, an increase of 3.1 per cent QoQ and 26.4 per cent YoY.
11:30 am: M&M logs rise in overall auto sales in Apr; sells 45,640 vehicles
Mumbai-based automotive giant Mahindra & Mahindra or M&M’s overall auto sales for the month of April stood at 45,640 vehicles, as per an exchange filing. Mahindra sold 22,168 vehicles in April in the utility vehicles segment, a 22 per cent growth from FY22.
It sold 22,526 vehicles in the passenger vehicles segment, a 23 per cent rise compared to FY22 when the company sold 18,285 vehicles. The passenger vehicles segment comprises UVs, cars and vans. Exports for the month stood at 2,703 vehicles, a 35 per cent rise from 2,005 vehicles exported in FY22.
Mahindra logged a growth of 22 per cent in the SUV segment with 22,168 vehicles sold in FY23, the filing further read.
10:30 am: Adani Wilmar stock tumbles 4% ahead of Q4 earnings
Shares of Adani Wilmar fell in early trade ahead of the Adani Group's firm March quarter earning set to be announced today. Adani Wilmar stock declined 4 percent to Rs 749 against the previous close of Rs 780.25 on BSE. The large-cap stock opened at Rs 755.50.
Market cap of the firm fell to Rs 1,00,751 crore. Total 0.70 lakh shares of the firm changed hands amounting to a turnover of Rs 5.39 crore.
The stock hit all-time high of Rs 878.35 on April 28, 2022. The stock has fallen in the last two consecutive sessions. Till date, the stock has lost 14.72 per cent from its all-time high.
10:00 am: Maruti Suzuki shares trade lower post results
Shares of India's largest automaker Maruti Suzuki India Limited were trading lower on Monday as the company reported a slump of 5.6 per cent in its total sales to 150,661 units in April. The film had sold 159,691 units in April last year.
On Friday, Maruti Suzuki posted a 57.7 per cent jump in quarterly profit as price hikes and lower sales promotion costs helped the country's top carmaker outweigh the impact of high raw material costs and global semiconductor shortages.
The stock opened a tad lower at Rs 7,670 against the previous close of Rs 7,732.75 on BSE. With a market capitalisation of more than Rs 2,30,000 crore, the shares stand higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.
The company reported Rs 1,839 crore standalone net profit for the quarter ended March 2022 as compared with Rs 1,166 crore for the year-ago period.
9:16 am: Market opening
Equity benchmark indices opened sharply lower amid weak global cues. Sensex tanked over 577 points to 56,483.78 and Nifty fell over 178 points to 16,924.45.
Kotak Mahindra Bank and HDFC Bank were the top losers, followed by Bajaj twins, Infosys and Asian Paints.
8:45 am: FII and DII action
Foreign institutional investors (FIIs) sold shares worth Rs 3,648.30 crore on April 29, and domestic institutional investors (DIIs) purchased shares worth Rs 3,490.30 crore, as per provisional data available on NSE.
8:30 am: Global updates
Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates.
The, S&P 500 declined 3.63% to end the session at 4,131.93 points. The Nasdaq declined 4.17% to 12,334.64 points, while Dow Jones Industrial Average declined 2.77% to 32,977.21 points.
Shares in Asia-Pacific were lower in Monday morning trade, with data released over the weekend showing Chinese factory activity contracted in April. In Japan, the Nikkei 225 fell 0.54% as shares of robot maker Fanuc dropped about 3%. The Topix index also shed 0.38%. South Korea’s Kospi traded 0.5% lower.
Australia stocks declined, with the S&P/ASX 200 falling 1.41%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.55% lower.
8:15 am: SGX Nifty
The Indian equity market is likely to open on a negative note today as SGX Nifty was trading 229 points lower at 16,903.
The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:10 am: Market on Friday
The 30-share BSE benchmark plummeted 460.19 points or 0.80 per cent to end at 57,060.87 despite a firm opening. During the day, it hit a high of 57,975.48 and a low of 56,902.30. Nifty tanked 142.50 points or 0.83 per cent to 17,102.55.
Axis Bank, Power Grid, Wipro, State Bank of India, Maruti, Titan and NTPC were among the major laggards from the Sensex pack.
In contrast, Kotak Mahindra Bank, HDFC Bank, Sun Pharma, Tata Steel and Dr Reddy's were among the gainers.
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