Share Market LIVE: Sensex rises 100 pts, Nifty below 15,850; Sun Pharma, M&M top winners

Good afternoon!

Benchmarks tumbled on Thursday amid weak global indexes and inflation concerns. Foreign institutional investors remaining in selling mode and high crude oil prices also weighed on sentiment.

Sensex fell 1,158.08 points or 2.14% to close below the 53,000 level at 52,930.31. It fell 1,386.09 points or 2.56% during the day to 52,702.30. Nifty plunged 359.10 points or 2.22% to end at 15,808.

And after? Here are the latest updates.

2:54 p.m.: Gains from market pars

Sensex is trading 106 points higher at 53,036 and Nifty is up 33 points at 15,831 in the afternoon session.

2:48 p.m.: LIC IPO: Gray market premium crashes 111% ahead of IPO next week

The share price of Life Insurance Corporation of India (LIC) on the unlisted market or gray market premium (GMP) has fallen by 111% in the last 10 trading sessions.

The GMP which stood at Rs 85 on May 3 fell to minus Rs 10 today, signaling a slump of 111.76% in 10 trading sessions. The IPO opened on May 4 and closed on May 9. Over the past three sessions, the IPO GMP has been stuck at the minus 10 rupees level, according to IPO Watch.

1:47 p.m.: SBI stock rises 2% after fourth quarter results

SBI stock rises 2% after the lender reports a 41.2% increase in its stand-alone net profit to Rs 9,113.53 crore for the fourth quarter ended March 31, 2022. The lender had reported a net profit of Rs 6,450.75 crore a year ago. period.

The stock gained 2.01% to Rs 477 against the previous close of Rs 462.45 on BSE.

1:38 p.m.: Sensex winners

Sun Pharma, Titan, M&M, HUL and Reliance Industries are Sensex’s top gainers, rising 4.51%.

12:45 p.m.: Green market

Sensex is trading 697 points higher at 53,628 and Nifty is up 228 points at 16,036 in the afternoon session.

12:33 p.m .: Adani Wilmar stock rises amid market recovery

Shares of Adani Wilmar were trading higher amid a rally in broader equity indices today. Shares of Adani Wilmar opened 2.96% higher at Rs 599 on BSE. The company’s market capitalization has risen to Rs 78,357 crore. A total of 2.11 lakh shares in the company changed hands, representing turnover of Rs 12.62 crore on BSE. The title lost 5.74% in one month and fell 7.16% in one week.

11:30 am: RBL Bank stock buzzes over 13%

Shares of RBL Bank soared more than 13% to an intraday high of Rs 114.60 after the lender reported a strong run of numbers for the quarter ended March 2022.

The bank’s profit more than doubled to Rs 164.77 crore in the March quarter, mainly due to a weak base a year ago. The private sector lender reported a net profit of Rs 197.83 crore on a stand-alone basis in the January-March period compared to Rs 75.34 crore a year ago.

In FY22, it reported a loss of Rs 74.74 crore while it had a net profit of Rs 507.78 crore in 2020-21.

The stock opened higher at Rs 104.70 against the previous close of Rs 101.75. With a market capitalization of Rs 6,630 crore, the shares are below the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

10:30 a.m.: Tata Motors shares in focus

Tata Motors shares rose more than 8% in early trading today after the major car company released its fourth quarter results. The large-cap stock hit an intraday high of Rs 403, gaining 8.30% on BSE. The stock opened 3.82% higher at Rs 386.30 today.

Shares of Tata Motors are trading below the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. The stock has gained 21.41% in one year but has lost 18% since the start of this year. The company’s market cap rose to Rs 1.31 lakh crore on BSE.

Tata Motors shares gained after five consecutive days of decline. A total of 2.27 lakh shares changed hands, representing a turnover of Rs 8.96 crore.

The stock hit a 52-week high of Rs 536.50 on November 17, 2021 and a 52-week low of Rs 268.50 on August 24, 2021. The automaker reported a reduction in net loss to Rs 1,032 .84 crore for the quarter ended March 31, 2022. compared to a net loss of Rs 7,605.40 crore a year earlier.

Sequentially, the automaker’s loss decreased by Rs 1,516.14 crore in the December quarter (Q3FY22). However, the total consolidated revenue from operations fell by nearly 11.4% to Rs 78,439.06 crore from Rs 88,627.90 crore a year ago.

9:20 am: Rupee recovers

The Indian rupee recovered 8 paise and stood at 77.32 against the US dollar in early trading. The national currency fell to 77.40 against the US dollar on Thursday as the market closed.

The rupiah’s decline on Thursday was triggered by feelings of risk aversion amid growing worries about inflation, weak domestic equities, a surging US dollar in overseas markets and foreign capital outflows. .

9:16 am: Opening of the market

Sensex opened over 500 points higher to 53,507.78 and Nifty also jumped over 160 points to 15,977.

9:10 a.m.: Pre-market commentary by Mohit Nigam, Head – PMS, Hem Securities

The Indian market will open higher, according to the SGX Nifty and Global Trend. The stock market in the United States was trading flat. India’s equity benchmarks fell for the fifth consecutive session yesterday, ending with losses of more than 2%, as investors remained concerned about March’s Industrial Production Index (IPI) data and the crucial retail inflation (CPI) reading for April, which jumped to an 8-year high of 7.79%.

A broader decline in global equities in response to US consumer price data also dampened investor sentiment. Traders were also concerned when a private report slashed its projections for India’s economic growth over the next two fiscal years, citing a global slowdown, soaring oil prices and sluggish local demand as factors weighing on the third Asian economy.

Investors should exercise caution in these markets and take advantage of any declines in fundamentally sound stocks.

Immediate support and resistance for Nifty are 15,600 and 16,000 respectively. Immediate support and resistance for Bank Nifty are 33,500 and 34,500 respectively.

8:40 am: global updates

U.S. stocks ended a roller coaster session down slightly on Thursday as investors juggled signs of a spike in inflation and fears it could stay elevated, prompting an increasingly aggressive tightening of inflation. from the Federal Reserve.

All three major U.S. stock indices tumbled and the S&P 500 came within a whisker of confirming it had entered a bear market after slumping from its all-time high reached on Jan. 3.

When the dust settled, the S&P and Dow ended modestly red, but the Nasdaq made a modest gain.

The Dow Jones Industrial Average fell 103.81 points, or 0.33%, to 31,730.3, the S&P 500 lost 5.1 points, or 0.13%, to 3,930.08 and the Nasdaq Composite added 6.73 points, or 0.06%, to 11,370.96.

Asian stocks found equilibrium after a volatile session for US equities, but the dollar remained at a 20-year high and global equities near an 18-month low on concerns over persistently high inflation. and the tightening of central banks.

Those concerns ultimately dashed hopes on Wall Street that high inflation could peak, pushing the S&P 500 close to confirming a bear market on Thursday, nearly 20% off its all-time high in January.

MSCI’s broadest Asia Pacific ex-Japan equity index rose 1.15%, trimming its losses for the week to around 3.5%.

8:15 am: SGX Nifty

The Indian stock market is expected to open on a positive note today as SGX Nifty traded higher at 15,971.50.

The Singapore Stock Exchange is considered the first index of the opening of the Indian market.

8:10 a.m.: Market on Thursday

Benchmarks extended losses for the fifth straight session amid weak global indices. Sensex and Nifty fell more than 2% each, trailing sales in major index twins HDFC, Reliance Industries and ICICI Bank. Investors remained cautious before the announcement of the inflation rate for April and industrial production data for March.

Sensex fell 1,158.08 points or 2.14% to close below the 53,000 level at 52,930.31. It fell 1,386.09 points or 2.56% during the day to 52,702.30. Nifty plunged 359.10 points or 2.22% to end at 15,808.

IndusInd Bank, Tata Steel, Bajaj Finance, Bajaj Finserv, HDFC Bank, Axis Bank, HDFC, Titan, NTPC and State Bank of India were among Sensex’s biggest losers, dropping to 5.82% today. Wipro was the sole winner, reaching 0.91%.

The breadth of the market was negative with 747 stocks ending higher versus 2,614 stocks falling in the red. 86 shares remained unchanged. Consumer durables stocks, banking stocks and metal stocks were the main sector losers along with their BSE indices, collapsing by 976 points, 1255 points and 715 points respectively.