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Share Market Update: Sensex rises 180 pts, Nifty above 15,800; NTPC, Bajaj Finance top gainers

Share Market Update: Sensex rises 180 pts, Nifty above 15,800; NTPC, Bajaj Finance top gainers

Sensex ends 180 points higher at 52,973 and Nifty rises 60 points to 15,842.

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

Good morning!

Of late, the investors on Dalal Street have been on a roller-coaster ride amid weak global cues, inflation worries and unabated selling by foreign institutional investors.

On Friday, equity benchmark Sensex pared all intraday gains and closed 136.69 points or 0.26 per cent lower at 52,793.62. During the day, the 30-stock index rallied 855.4 points or 1.61 per cent to 53,785.71. Nifty also dipped 25.85 points or 0.16 per cent to end at 15,782.15.

What's next? Here are the latest updates!

3:30 pm: Market ends in green

Sensex ends 180 points higher at 52,973 and Nifty rises 60 points to 15,842.

2:38 pm: Market update

Sensex gains 294 points to 53,087 and Nifty rose 94 points to 15,879 in afternoon session.

1:00 pm: Why ACC, Ambuja Cements shares rose up to 8% today

Shares of ACC Ltd and Ambuja Cements gained up to 8 per cent today after the Adani Group won the race to acquire India business of Swiss firm Holcim for $10.5 billion (Rs 81,361 crore). Holcim holds 63.19 per cent stake in Ambuja Cements and 4.48 per cent in ACC. Ambuja Cements, in turn, owns 50.05 per cent in ACC.

ACC stock opened higher at Rs 2149 against the previous close of Rs 2113.70. It touched an intra-day high of Rs 2,288, rising 8.25 percent on BSE. Market cap of the firm rose to Rs 42,158 crore. A total of 1.90 lakh shares of the firm changed hands amounting to a turnover of Rs 42.77 crore. READ MORE

12:51 pm: Eicher Motors stock rises 6% post Q4 earnings

Eicher Motors stock rose 6.2 percent to Rs 2587 today after the auto major said its consolidated net profit after tax increased by 16 per cent to Rs 610 crore for the fourth quarter ended March 31, 2022 against a net profit after tax of Rs 526 crore in the January-March quarter of the 2020-21 fiscal.

Total revenue from operations rose to Rs 3,193 crore in the fourth quarter as compared to Rs 2,940 crore in the same period of FY21, Eicher Motors said.

12:42 pm: SBI stock rises over 3% post Q4 earnings

The stock touched an intraday high of Rs 461.35, rising 3.66% on BSE. The banking stock has gained after two days of fall. The lender reported a 41 per cent rise in Q4 net profit at Rs 9,113.53 crore for the fourth quarter ended March 31, 2022 against a net profit of Rs 6,450.75 crore in the year-ago period. The bank has logged its highest quarterly net profit in Q4FY22. Net profit for FY22 rose 55.19 per cent YoY to Rs 31,676 crore.  . 

12:34 pm: Expecting soft listing for Delhivery IPO

Yash Gupta, Equity Research Analyst, Angel One Ltd said, "Delhivery IPO closed with a total subscription of 1.63 times on day 3, till day 2 even it was a question that delhivery IPO will receive the full subscription on not. Delhivery has received a weak response from retail investors, retail subscription was at 0.57 times. So now all the investors in the retail category will receive the full allotment.

On day 3 the QIB category investors came forward to rescue the Delhivery IPO. Just because of QIB, only IPO is able to receive the full subscription. Delhivery IPO QIB portion was oversubscribed and received a total subscription of 2.66 times.

If we look at grey market premium (GMP), as per the news GMP of delhivery IPO is trading in negative. So we can expect a soft listing from Delhivery IPO. We have given a neutral rating to Delhivery IPO looking at the expensive valuations of the IPO".

12:16 pm: Sensex gainers

SBI, Maruti Suzuki, NTPC, Kotak Bank, Tata Steel, IndusInd Bank, Kotak Bank, Bajaj Finance and ICICI Bank are the top Sensex gainers, rising up to 2.21 percent on BSE.

12:10 pm: LIC share listing tomorrow

Prashanth Tapse, Vice President (Research), Mehta Equities said, "Despite gloomy market sentiments, LIC offer successfully managed to sail out with better than expected subscriptions figures led by strong demand from retail policyholders, retail investors and employees of the insurer. Unofficial grey premium is trading down into negative territory mainly on the back of depressed global markets which are in the bearish zone since Russia-Ukraine war. Selling pressure continued in domestic markets wherein FIIs have remained net sellers in this FY. Till date, FIIs have sold worth Rs 70,000 crore. Considering all the parameters, we expect soft listing between plus or minus 5 per cent of the offer price. Moreover, LIC offer was never been considered as listing gain candidate rather it should be looked at only long term. Given the market sentiments still alarming and volatile following the global headlines, LIC may also trade in muted mood. Hence, we advise allotted investors not to panic and hold it for medium to long term. Those who are planning to buy on a listing day should accumulate by taking volatility as opportunity."

12:00 pm: LIC shares: Here’s what grey market premium hints ahead of listing on Tuesday

Shares of insurance behemoth Life Insurance Corporation of India (LIC) may list at a discount on bourses on Tuesday if one goes by grey market premium. According to market watchers, shares of LIC are available at a discount of Rs 20 in the unlisted market. 

The government has set the issue price at Rs 949 per share, the upper end of the IPO price band, fetching the exchequer around Rs 20,557 crore. 

Abhay Doshi, Founder, Unlisted Arena said, “Shares of LIC were trading at a discount of Rs 20 in the unlisted market. The financial behemoth got a mixed response despite attractively priced valuations on account of subdued market conditions.” 

“The current sentiment indicates at par to discount listing, however, if market sentiments stabilise till listing, we may see a positive impact. Hence, one should limit their expectations as far as listing gains are concerned.” 

10:40 am: Adani group picks 49% stake in Quintillion Business Media

AMG Media Networks Limited, a wholly-owned subsidiary of Adani Enterprises, will pick a 49 per cent stake in Quintillion Business Media, it stated in a BSE filing. The stake-pick in Raghav Behl’s digital business news site was made for an undisclosed sum.  

“With reference to the captioned subject, we would like to inform you that, AMG Media Networks Limited (“AMG Media”), a wholly owned subsidiary of the Company has signed (i) Shareholders' Agreement with Quintillion Media Limited (“QML”) and Quintillion Business Media Limited (“QBML”) and (ii) Share Purchase Agreement with QML, QBML and Quint Digital Media Limited (“QDML”) dated 13th May, 2022 in connection with its proposed acquisition of 49% stake in QBML,” it stated in the filing.

“The SHA and SPA record the terms of agreement with respect to acquisition of 49% equity shares of QBML by AMG Media and the inter se rights and obligations and other matters in connection therewith,” it said.

QBML is a business and financial news company and operates business news digital platform BloombergQuint.

9:16 am: Market opening

Sensex opened over 152 points higher at 52,946.32 and Nifty jumped over 63 points to 15,845.10.

Tata Steel was the top gainer on Sensex, advancing over 2 per cent, followed buy Titan, Wipro and Dr Reddy.

8:40 am: Global updates

Wall Street surged on Friday to end higher, closing the book on a week of wild market gyrations as relief at signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into recession.

Gains were led by a rebound in mega-cap tech and tech-adjacent stocks, which sold off in recent sessions as benchmark Treasury yields climbed and investors worried the Fed might hike interest rates more aggressively than expected.

The Dow Jones Industrial Average rose 466.36 points, or 1.47 percent, to 32,196.66, the S&P 500 gained 93.81 points, or 2.39 percent, to 4,023.89 and the Nasdaq Composite added 434.04 points, or 3.82 percent, to 11,805.00.

Shares in the Asia Pacific rose on Monday as investors watched for a slew of Chinese economic data. Japan’s Nikkei 225 gained 1.54 percent, while the Topix advanced 0.93 percent in early trading.

The Kospi in South Korea rose 0.46 percent, and the Kosdaq was 1.43 percent higher. In Australia, the S&P/ASX 200 climbed 0.73 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.33 percent.

8:15 am: SGX Nifty

The Indian equity market is likely to open on a flat note today as SGX Nifty was trading 31 points higher at 15,815.50.

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

8:10 am: Market on Friday

Indian market came under fag-end selling pressure to end in the red for the sixth straight session on Friday. Unabated selling by foreign institutional investors and concerns over inflation led to weakening of sentiment.

Sensex pared all intra-day gains and closed 136.69 points or 0.26 per cent lower at 52,793.62. During the day, the 30-stock index rallied 855.4 points or 1.61 per cent to 53,785.71. Nifty dipped 25.85 points or 0.16 per cent to end at 15,782.15.

Top Sensex losers were State Bank of India, ICICI Bank, NTPC, Bharti Airtel, Bajaj Finserv, Axis Bank and Maruti falling up to 3.76 per cent.

Sun Pharma, M&M, ITC, Hindustan Unilever, Titan and Reliance were among the top Sensex gainers, rising up to 3.76 per cent.

Of 30 Sensex stocks, 15 ended in the red.  

The market breadth was negative with 2166 shares ending higher against 1169 stocks falling in the red. 137 shares were unchanged.