Share Market update: Sensex falls 866 pts, Nifty below 16,450; Bajaj Twins among top losers

Good afternoon!

Equity markets erased early gains during the fag-end of trade on Thursday to end on a flat note amid profit-taking. Earlier, Sensex jumped 897.77 points or 1.61 per cent to 56,566.80. But it trimmed most of the gains and closed just 33.20 points or 0.06 per cent higher at 55,702.23. Nifty gained 5.05 points or 0.03 per cent to 16,682.65.

US stocks ended Thursday sharply lower amid a broad sell-off, as investor sentiment cratered in the face of concerns that the Federal Reserve's interest rate hike the previous day would not be enough to tame surging inflation.

All three main Wall Street benchmarks erased gains made during a relief rally on Wednesday, with the Nasdaq posting its biggest one-day percentage decline since June 2020 and its lowest finish since November 2020.

The Dow's decline was its worst daily performance since October 2020.

What's next? Here are the latest updates!

 3:35 pm: Market ends in the red

Sensex falls 866 points to 54,835 and Nifty loses 271 points to 16,411 in the last trading session of this week.

3:14 pm: Latest update 

Sensex falls 870 points to 54,831 and Nifty loses 262 points to 16,422.

2:05 pm: Expert quote on stock market

Shibani Kurian, Senior EVP & Head- Equity Research, Kotak Mahindra AMC said, "Indian equity markets continued to remain volatile amid worry on rising interest rates, the Russia-Ukraine war and global commodity inflation. Global yields rose higher as a slew of hawkish remarks from central banks reinforced expectations of tightening.

Despite all the macro headwinds, Indian economy continued to show uptick in growth as activity normalisation gathered pace. High frequency indicators are have been improving in the past few months. April GST collections were highest ever at Rs 1.67 trillion. Total credit growth is witnessing an improvement. Credit growth stood at 10.1% YoY in first fortnight of April.

Market participants would likely be watching out for corporate earnings of Q4FY22 and management commentary on demand and margins for FY23. Duration of Russia-Ukraine war, interest rate hikes by global central banks, supply chain disruptions and commodity inflation would be some of the other key factors."

1:17 pm: Dabur India stock falls 3 per cent post Q4 earnings

Shares of Dabur India fell over 3 per cent after the FMCG firm reported a 22 percent fall in consolidated Q4 net profit to Rs 294.34 crore against net profit of Rs 377.29 crore in the year-ago period.

The stock touched an intraday low of Rs 512.3, falling 3.19 percent on BSE.

12:41 pm: Top Sensex losers are Bajaj Finance, Axis Bank, Bajaj Finserv, Wipro and IndusInd Bank are the top Sensex losers, falling up to  4.32 percent in afternoon session.

12:16 pm: Market crash: Netizens share memes to cope with the mayhem

There is an absolute bloodbath both at the Dalal Street as well as in the international markets. BSE and NSE traded in red as Sensex is down 1,000 points whereas Nifty has tanked below 16,400 points as of now. All 30 Sensex stocks were trading in the red in early trade and the market breadth was negative with 383 shares trading higher against 2,139 stocks falling in the red. 67 shares remained unchanged. Read More 

11:02 am: Adani Wilmar stock continues losing spree, hits 5% lower circuit in early trade

Shares of Adani Wilmar fell for the fifth straight session today, amid a market crash triggered by strong correction on the US bourses overnight. Adani Wilmar stock opened 5 per cent lower at Rs 646.20 today on BSE. Later, the stock was stuck in the lower circuit of 5 per cent at the same level.  However, it is still up 192.39 per cent from its listing price of Rs 221.

Market cap of the firm fell to Rs 83,985 crore. Total 3.28 lakh shares of the firm changed hands amounting to a turnover of Rs 21.18 crore in the morning session. Read More

10:30 am: Here's a look at top five Sensex losers in today's crash.

Bajaj Finance: The stock of the NBFC slipped 3.13 per cent to Rs 6113 on BSE. Market cap of the firm fell to Rs 3.70 lakh crore. The stock opened with a loss of 2.15 percent at Rs 6175 today.

Bajaj Finserv: The large cap stock slipped 3 percent to Rs 13,711 against the previous close of Rs 14136. Market cap of the firm fell to Rs 2.18 lakh crore. The stock touched an intraday low of Rs 13570 on BSE.

HUL: The FMCG stock sinked 2.73 per cent in early trade. It opened with a loss of 2.81 percent at Rs 2106 today. Market cap of the firm fell to Rs 4.99 lakh crore.

Maruti Suzuki: The auto stock fell 3.3 per cent intraday to Rs 7161 on BSE.   At 90: 38 am, the stocks was down 2.14 per cent to Rs 7246 against the previous close of Rs 7405.

Wipro: The IT stock slipped 2.77 per cent to Rs 487 on BSE. The large cap stock touched an intraday low of Rs 485.65, down 3.07 per cent on BSE. Market cap of the firm fell to Rs 2.67 lakh crore.

10:25 am: Zomato shares at all-time low; slips below issue price

Shares of Zomato tanked over 6 per cent to hit an all-time low of Rs 57.65 on BSE amid a brutal market sell-off on Friday.

Currently, the stock is down over 66 per cent below its all-time high. It touched an all-time high of Rs 169.10 on November 16, 2021. On a year-to-date basis, the shares have fallen over 57 per cent.

10:20 am: Sensex crashes over 1000 points

Investor wealth declined by Rs 5.12 lakh crore to Rs 254.52 lakh crore today against Rs 259.64 lakh crore in the previous session.

All 30 Sensex stocks were trading in the red. The market breadth was negative with 383 shares trading higher against 2139 stocks falling in the red. 67 shares were unchanged.

9:20 am: All the stocks on the Sensex were trading in the red.

9:18 am: Sensex tanks over 950 points

9:16 am: Market opening

Sensex tumbled over points to 54,823 and Nifty tanked over 267 points to 16,415 amid weak global cues.

9:00 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities 

Benchmark Indices are expected to open on a negative note as suggested by trends on SGX Nifty. US markets witnessed a relief rally on Wednesday after FOMC meeting but it tumbled on Thursday due to more anxiety over rising interest rates. 

Pound also fell on fears of UK recession. Asian markets are trading in red in the early Friday trade. US non farm payrolls data and unemployment rate will be announced today which may decide the direction of global markets. 

Earning today include Reliance Industries, Tata Power, Federal Bank, Apollo Pipes, Grindwell Norton etc.

Immediate support and resistance for Nifty are 16,200 and 16,800 respectively. Immediate support and resistance for Bank Nifty are 34,500 and 35,500 respectively.

8:30 am: Global updates

US stocks ended on May 5 sharply lower amid a broad sell-off, as investor sentiment cratered in the face of concerns that the Federal Reserve's interest rate hike the previous day would not be enough to tame surging inflation.

All three main Wall Street benchmarks erased gains made during a relief rally  on May 4, with the Nasdaq posting its biggest one-day percentage decline since June 2020 and its lowest finish since November 2020. The Dow's decline was its worst daily performance since October 2020.

The Dow Jones Industrial Average fell 1,063.09 points, or 3.12 percent, to 32,997.97, the S&P 500 lost 153.3 points, or 3.56 percent, to 4,146.87 and the Nasdaq Composite dropped 647.17 points, or 4.99 percent, to 12,317.69.

Shares in Asia-Pacific largely declined  in the May 6 morning trade after an overnight drop on Wall Street sent the Dow Jones Industrial Average to its worst day since 2020. Hong Kong’s Hang Seng index led losses regionally as it fell 2.45 percent. In mainland China, the Shanghai Composite slipped 1.41% while the Shenzhen Component shed 1.728 percent.

In Japan, the Nikkei 225 dipped 0.13 percent. The Topix index traded 0.34 percent higher. Japanese stocks returned to trade  on May 6 after being closed for holidays much of this week.

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 16,432.

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

8:10 am: Market on Thursday

Equity markets erased early gains during the fag-end of trade on Thursday to end on a flat note amid profit-taking. Earlier, Sensex jumped 897.77 points or 1.61 per cent to 56,566.80. But it trimmed most of the gains and closed just 33.20 points or 0.06 per cent higher at 55,702.23. Nifty gained 5.05 points or 0.03 per cent to 16,682.65.

Tech Mahindra, Infosys, HCL Technologies, Tata Steel, Wipro, ITC, HDFC, TCS, Kotak Mahindra Bank and ICICI Bank were the top Sensex gainers, rising up to 4.07 per cent.

IndusInd Bank, Sun Pharma, Nestle, UltraTech Cement, Reliance Industries, PowerGrid, Bajaj Finserv and Titan were among top losers, falling up to 4.32 per cent.

Of 30 Sensex stocks, 14 ended higher.

The market breadth was negative with 1529 shares ending higher against 1814 stocks falling in the red. 118 shares were unchanged.