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| As on May 06, 2024 12:00 AM |
Your results on : Mid Session |
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| The domestic benchmarks traded in negative terrain with limited losses in mid-afternoon trade. The Nifty traded below the 22,450 mark after hitting the day's high of 22,588.80 in early trade. Realty shares advanced after declining in the past two trading sessions. At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 25.18 points or 0.04% to 73,848.78. The Nifty 50 index lost 46.15 points or 0.21% to 22,429.70. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.10% and the S&P BSE Small-Cap index declined 1.04%. The market breadth was weak. On the BSE, 1,206 shares rose and 2,690 shares fell. A total of 160 shares were unchanged. Economy: Despite falling from 61.2 at the end of the previous fiscal quarter to 60.8 in April, the seasonally adjusted HSBC India Services Business Activity Index highlighted one of the strongest growth rates seen in just under 14 years. Survey members attributed the latest upturn in output to favorable economic conditions, demand strength and rising intakes of new work. Despite coming in below the Flash estimate (62.2), the final HSBC India Composite PMI Output Index still signaled a substantial rate of expansion across the private sector. At 61.5 in April (March: 61.8), the latest reading was one of the highest seen in close to 14 years. As was the case for output, manufacturers continued to note a stronger increase in new business intakes than service providers. Aggregate sales rose sharply, and at one of the fastest rates since mid-2010. Goods producers also led April's rise in payroll numbers, with softer growth in the service economy curbing job creation at the composite level. Meanwhile, in the third consecutive weekly decline, India?s forex reserves dropped $2.412 billion to $637.922 billion during the seven days ended April 26, according to the RBI data. For the week ended April 26, the foreign currency assets ? a major component of the reserves ? decreased $1.159 billion to $559.701 billion, the data released on Friday showed. Gold reserves decreased $1.275 billion to $55.533 billion during the week. The special drawing rights (SDRs) were up $15 million to $18.048 billion, said the RBI. India?s reserve position with the IMF was also up $8 million to $4.639 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty Realty index jumped 1.94% to 981.30. The index fell 1.08% in past two trading sessions. Godrej Properties (up 10.13%), Brigade Enterprises (up 5.99%), Prestige Estates Projects (up 4.09%), Oberoi Realty (up 1.58%), Sobha (up 1.11%), Phoenix Mills (up 0.63%), Sunteck Realty (up 0.15%) and DLF (up 0.03%) advanced. On the other hand, Macrotech Developers (down 3.72%) and Mahindra Lifespace Developers (down 2.96%), edged lower. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.43% to 7.118 as compared with previous close 7.149. In the foreign exchange market, the rupee is edged lower against the dollar. The partially convertible rupee was hovering at 83.4725, compared with its close of 83.4550 during the previous trading session. MCX Gold futures for 5 June 2024 settlement added 0.81% to Rs 71,703. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 105.05. The United States 10-year bond yield fell 0.44% to 4.478. In the commodities market, Brent crude for July 2024 settlement gained 80 cents or 0.96% to $ 83.76 a barrel. Stocks in Spotlight: Kansai Nerolac Paints shed 0.78%. The paint major reported 8% rise in standalone net profit to Rs 102 crore on a 4% increase in net revenue to Rs 1,662 crore in Q4 FY24 as compared with Q4 FY23. Inox Wind slipped 1.50%. The wind energy service provider reported a consolidated net profit (from continuing operations) of Rs 37.67 crore in Q4 FY24 as against a net loss of Rs 115.51 crore posted in Q4 FY23. Revenue from operations stood at Rs 527.73 crore in Q4 FY24, steeply higher than Rs 190.75 crore recorded in the corresponding quarter previous year.
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| The benchmark indices traded with minor losses in afternoon trade. The Nifty traded below the 22,450 mark. Realty, IT and FMCG stocks were in demand while PSU banks, consumer durables and media shares witnessed a bit of a selling pressure. At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 35.58 points or 0.08% to 73,821.36. The Nifty 50 index lost 62.15 points or 0.28% to 22,413.70. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 1.16% and the S&P BSE Small-Cap index fell 1.05%. The market breadth was weak. On the BSE, 1,315 shares rose and 2,477 shares fell. A total of 178 shares were unchanged. Economy: Despite falling from 61.2 at the end of the previous fiscal quarter to 60.8 in April, the seasonally adjusted HSBC India Services Business Activity Index highlighted one of the strongest growth rates seen in just under 14 years. Survey members attributed the latest upturn in output to favorable economic conditions, demand strength and rising intakes of new work. Despite coming in below the Flash estimate (62.2), the final HSBC India Composite PMI Output Index still signaled a substantial rate of expansion across the private sector. At 61.5 in April (March: 61.8), the latest reading was one of the highest seen in close to 14 years. As was the case for output, manufacturers continued to note a stronger increase in new business intakes than service providers. Aggregate sales rose sharply, and at one of the fastest rates since mid-2010. Goods producers also led April's rise in payroll numbers, with softer growth in the service economy curbing job creation at the composite level. Meanwhile, in the third consecutive weekly decline, India?s forex reserves dropped $2.412 billion to $637.922 billion during the seven days ended April 26, according to the RBI data. For the week ended April 26, the foreign currency assets ? a major component of the reserves ? decreased $1.159 billion to $559.701 billion, the data released on Friday showed. Gold reserves decreased $1.275 billion to $55.533 billion during the week. The special drawing rights (SDRs) were up $15 million to $18.048 billion, said the RBI. India?s reserve position with the IMF was also up $8 million to $4.639 billion in the reporting week, the apex bank data showed. Gainers & Losers: Britannia Industries (up 7.46%), Kotak Mahindra Bank (up 5.31%), Tata Consultancy Sercives (up 2.02%), JSW Steel (up 1.20%) and Infosys (up 0.99%) were major Nifty gainers. Titan Company (down 7.03%), Adani Enterprises (down 4.44%), BPCL (down 3.20%), Coal India (down 3%) and SBI Life Insurance Company (down 2.98%) were major Nifty losers. Titan Company dropped 7.03% after the company?s standalone net profit tumbled 24.42% to Rs 786 crore on 22.18% decrease in revenue from operations to Rs 10,047 crore for Q4 FY24 over Q3 FY24. For year on year basis, The Tata Group company reported 7.08% rise in standalone net profit and 17.47% jumped in Revenue from operations for Q4 FY24 over Q4 FY23. Kotak Mahindra Bank jumped 5.31% after the bank reported 18% rise in standalone net profit to Rs 4,133 crore in Q4 FY24 from Rs 3,496 crore in Q4 FY23. Total income of the bank increased by 27% YoY to Rs 15,285.35 crore during the period under review. Britannia Industries jumped 7.46% after the company said that its consolidated net profit declined 3.76% to Rs 536.61 crore in Q4 FY24 as compared with Rs 557.60 crore in Q4 FY23. Revenue from operations increased 5.45% to Rs 4,104.07 crore in the quarter ended 31 March 2024 as compared with Rs 3892.02 crore posted in the quarter ended 31 March 2023. Earnings Impact: Mangalore Refinery & Petrochemicals (MRPL) slipped 6.68% after the company reported 40.41% decline in standalone net profit to Rs 1,136.84 crore in Q4 FY24 from Rs 1,907.98 crore recorded in Q4 FY23. Revenue from operations (excluding excise duty) fell marginally to Rs 25,328.67 crore in Q4 FY24 as compared to Rs 25,365.43 crore recorded in Q4 FY23. Tata Technologies fell 3.31% after the IT firm reported 7.63% decline in consolidated net profit to Rs 157.24 crore in Q4 FY24 as compared with Rs 170.22 crore in Q3 FY24. Revenue from operations rose marginally to Rs 1,301.05 crore in Q4 FY24 as compared with Rs 1,289.45 crore in Q3 FY24. Avenue Supermarts (Dmart) shed 0.59%. Dmart said that its consolidated net profit jumped 22.41% to Rs 563.25 crore in Q4 FY24 as compared with Rs 460.13 crore in Q4 FY23. Revenue from operations increased 20.13% to Rs 12,726.55 crore in the quarter ended 31 March 2024. Global Markets: Markets in Europe advanced while Asian stocks traded mixed on Monday as a softer-than-expected U.S. jobs report fueled hopes that the Federal Reserve could start cutting rates soon. Investors, meanwhile, awaited the Reserve Bank of Australia?s rate decision on Tuesday and China?s April trade data on Thursday. Japan and South Korea?s markets are closed for a public holiday. U.S. stocks closed sharply higher Friday, as Treasury yields fell after a softer-than-anticipated April jobs report. The Berkshire Annual Meeting 2024 on Saturday proceeded in Omaha with Warren Buffett, Greg Abel, and Ajit Jain fielding shareholder queries. Buffett spoke on a variety of issues, including the India opportunity, stock market outlook, US dollar, AI, Apple stake cuts, global investments and more. The U.S. economy added fewer jobs than expected in April while the unemployment rate rose. Nonfarm payrolls increased by 175,000 on the month. The unemployment rate ticked higher to 3.9%, compared to 3.8% in the prior month, according to the Bureau of Labor Statistics.
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| The domestic equity indices traded with limited gains in early afternoon trade. The Nifty traded near the 22,500 level. Media shares decline for the fourth consecutive trading session. At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 203.26 points or 0.28% to 74,068.86. The Nifty 50 index added 17.20 points or 0.08% to 22,493.05. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.71% and the S&P BSE Small-Cap index declined 0.69%. The market breadth was weak. On the BSE, 1,315 shares rose and 2,477 shares fell. A total of 178 shares were unchanged. Economy: Despite falling from 61.2 at the end of the previous fiscal quarter to 60.8 in April, the seasonally adjusted HSBC India Services Business Activity Index highlighted one of the strongest growth rates seen in just under 14 years. Survey members attributed the latest upturn in output to favorable economic conditions, demand strength and rising intakes of new work. Despite coming in below the Flash estimate (62.2), the final HSBC India Composite PMI Output Index still signaled a substantial rate of expansion across the private sector. At 61.5 in April (March: 61.8), the latest reading was one of the highest seen in close to 14 years. As was the case for output, manufacturers continued to note a stronger increase in new business intakes than service providers. Aggregate sales rose sharply, and at one of the fastest rates since mid-2010. Goods producers also led April's rise in payroll numbers, with softer growth in the service economy curbing job creation at the composite level. Meanwhile, in the third consecutive weekly decline, India?s forex reserves dropped $2.412 billion to $637.922 billion during the seven days ended April 26, according to the RBI data. For the week ended April 26, the foreign currency assets ? a major component of the reserves ? decreased $1.159 billion to $559.701 billion, the data released on Friday showed. Gold reserves decreased $1.275 billion to $55.533 billion during the week. The special drawing rights (SDRs) were up $15 million to $18.048 billion, said the RBI. India?s reserve position with the IMF was also up $8 million to $4.639 billion in the reporting week, the apex bank data showed. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 11.69% to 16.33. The Nifty 30 May 2024 futures were trading at 22,606, at a premium of 112.95 points as compared with the spot at 22,493.05. The Nifty option chain for the 30 May 2024 expiry showed maximum Call OI of 26.2 lakh contracts at the 23,500 strike price. Maximum Put OI of 34.6 lakh contracts were seen at 22,000 strike price. buzzing index: The Nifty Media index declined 1.89% to 1,816.10. The index dopped 5.03% in the four consecutive trading sessions. Zee Entertainment Enterprises Ltd (down 3.21%), Tips Industries Ltd (down 2.98%), TV18 Broadcast Ltd (down 2.8%), Network 18 Media & Investments Ltd (down 2.69%) and Dish TV India Ltd (down 2.54%) were the top losers. Among the other losers were Hathway Cable & Datacom Ltd (down 2.05%), PVR Inox Ltd (down 1.47%), Sun TV Network Ltd (down 0.44%). stocks in spotlight: Britannia Industries rallied 7.53%. The FMCG company said that its consolidated net profit declined 3.76% to Rs 536.61 crore in Q4 FY24 as compared with Rs 557.60 crore in Q4 FY23. Revenue from operations increased 5.45% to Rs 4,104.07 crore in the quarter ended 31 March 2024 as compared with Rs 3892.02 crore posted in the quarter ended 31 March 2023. Kotak Mahindra Bank jumped 5.27% after the bank reported 18% rise in standalone net profit to Rs 4,133 crore in Q4 FY24 from Rs 3,496 crore in Q4 FY23. Total income of the bank increased by 27% YoY to Rs 15,285.35 crore during the period under review. Mangalore Refinery & Petrochemicals (MRPL) slipped 6.03% after the company reported 40.41% decline in standalone net profit to Rs 1,136.84 crore in Q4 FY24 from Rs 1,907.98 crore recorded in Q4 FY23. Revenue from operations (excluding excise duty) fell marginally to Rs 25,328.67 crore in Q4 FY24 as compared to Rs 25,365.43 crore recorded in Q4 FY23.
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| The headline equity indices traded with minor gains in mid-morning trade. The Nifty traded above the 22,450 mark. Consumer durables shares extended losses for the third consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 144.45 points or 0.20% to 74,029. The Nifty 50 index added 5.65 points or 0.03% to 22,481.50. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.76% and the S&P BSE Small-Cap index declined 0.78%. The market breadth was weak. On the BSE, 1,258 shares rose and 2,453 shares fell. A total of 186 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 12.96% to 16.51. Economy: Despite falling from 61.2 at the end of the previous fiscal quarter to 60.8 in April, the seasonally adjusted HSBC India Services Business Activity Index highlighted one of the strongest growth rates seen in just under 14 years. Survey members attributed the latest upturn in output to favorable economic conditions, demand strength and rising intakes of new work. Despite coming in below the Flash estimate (62.2), the final HSBC India Composite PMI Output Index still signaled a substantial rate of expansion across the private sector. At 61.5 in April (March: 61.8), the latest reading was one of the highest seen in close to 14 years. As was the case for output, manufacturers continued to note a stronger increase in new business intakes than service providers. Aggregate sales rose sharply, and at one of the fastest rates since mid-2010. Goods producers also led April's rise in payroll numbers, with softer growth in the service economy curbing job creation at the composite level. Meanwhile, in the third consecutive weekly decline, India?s forex reserves dropped $2.412 billion to $637.922 billion during the seven days ended April 26, according to the RBI data. For the week ended April 26, the foreign currency assets ? a major component of the reserves ? decreased $1.159 billion to $559.701 billion, the data released on Friday showed. Gold reserves decreased $1.275 billion to $55.533 billion during the week. The special drawing rights (SDRs) were up $15 million to $18.048 billion, said the RBI. India?s reserve position with the IMF was also up $8 million to $4.639 billion in the reporting week, the apex bank data showed. IPO Update: The initial public offer (IPO) of Indegene received 72,84,321 bids for shares as against 2,88,66,677 shares on offer, according to stock exchange data at 11:15 IST on Monday (06 May 2024). The issue was subscribed 0.25 times. The issue opened for bidding on Monday (06 May 2024) and it will close on Wednesday (08 May 2024). The price band of the IPO is fixed at Rs 430 to Rs 452 per share. An investor can bid for a minimum of 33 equity shares and in multiples thereof. Buzzing Index: The Nifty Consumer Durables index fell 2.01% to 33,784.75. The index slipped 2.44% in three consecutive trading sessions. Titan Company (down 6.14%), Kalyan Jewellers India (down 3.55%), Whirlpool of India (down 2.57%), Rajesh Exports (down 2.45%), Voltas (down 1.46%), Kajaria Ceramics (down 1.09%), V-Guard Industries (down 0.95%), Bata India (down 0.66%), Dixon Technologies (India) (down 0.49%) and Century Plyboards (India) (down 0.37%) declined. On the other hand, Amber Enterprises India (up 2.79%), Crompton Greaves Consumer Electricals (up 1.15%) and Cera Sanitaryware (up 0.75%) edged higher. Titan Company declined 6.14% after the company?s standalone net profit tumbled 24.42% to Rs 786 crore on 22.18% decrease in revenue from operations to Rs 10,047 crore for Q4 FY24 over Q3 FY24. Stocks in Spotlight: Kotak Mahindra Bank jumped 5.30% to Rs 1629.25 after the bank reported 18% rise in standalone net profit to Rs 4,133 crore in Q4 FY24 from Rs 3,496 crore in Q4 FY23. The bank?s total income increased by 27% YoY to Rs 15,285.35 crore during the period under review. Seamec slipped 1.28%. The company said that CRISIL Ratings has upgraded its rating on the long-term bank facilities of the company to 'CRISIL A+/Stable? from 'CRISIL A/Positive?. Global Markets: Most of the Asian stocks trading higher on Monday as a softer-than-expected U.S. jobs report fueled hopes that the Federal Reserve could start cutting rates soon. Investors, meanwhile, awaited the Reserve Bank of Australia?s rate decision on Tuesday and China?s April trade data on Thursday. Japan and South Korea?s markets are closed for a public holiday. U.S. stocks closed sharply higher Friday, as Treasury yields fell after a softer-than-anticipated April jobs report. The Berkshire Annual Meeting 2024 on Saturday proceeded in Omaha with Warren Buffett, Greg Abel, and Ajit Jain fielding shareholder queries. Buffett spoke on a variety of issues, including the India opportunity, stock market outlook, US dollar, AI, Apple stake cuts, global investments and more. The U.S. economy added fewer jobs than expected in April while the unemployment rate rose. Nonfarm payrolls increased by 175,000 on the month. The unemployment rate ticked higher to 3.9%, compared to 3.8% in the prior month, according to the Bureau of Labor Statistics.
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| The frontline traded with decent gains in morning trade. The Nifty traded above the 22,450 mark. PSU bank shares extended losses for the third consecutive trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 237.99 points or 0.34% to 74,126.85. The Nifty 50 index added 12 points or 0.05% to 22,487.85. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.02% and the S&P BSE Small-Cap index declined 0.84%. The market breadth was weak. On the BSE, 1,202 shares rose and 2,368 shares fell. A total of 213 shares were unchanged. Economy: In the third consecutive weekly decline, India?s forex reserves dropped $2.412 billion to $637.922 billion during the seven days ended April 26, according to the RBI data. For the week ended April 26, the foreign currency assets ? a major component of the reserves ? decreased $1.159 billion to $559.701 billion, the data released on Friday showed. Gold reserves decreased $1.275 billion to $55.533 billion during the week. The special drawing rights (SDRs) were up $15 million to $18.048 billion, said the RBI. India?s reserve position with the IMF was also up $8 million to $4.639 billion in the reporting week, the apex bank data showed. Results Today : Lupin (down 0.20%), Marico (up 1.50%), Arvind (up 0.31%), CarTrade Tech (down 1.23%), CG Power and Industrial Solutions (up 0.23%), DCM Shriram (up 1.20%), Godrej Consumer Products (up 0.28%), Gujarat Gas (up 0.66%) Happiest Minds Technologies (up 0.11%), Indian Bank (down 1.66%), Muthoot Microfin (up 0.04%), Route Mobile (up 1.01%) and Uttam Sugar Mills (down 1.75%) will announce their quarterly earnings later in the day. Buzzing Index: The Nifty PSU Bank index slipped 3.95% to 7,231.55. The index fell 4.91% in three consecutive trading sessions. Punjab National Bank (down 5.52%), Bank of India (down 5.14%), Canara Bank (down 5.04%), Bank of Baroda (down 4.32%), Union Bank of India (down 4.16%), Bank of Maharashtra (down 3.44%), Indian Overseas Bank (down 3.4%), Punjab & Sind Bank (down 3.21%), UCO Bank (down 3.16%) and Central Bank of India (down 2.99%) declined. Stocks in Spotlight: Ujjivan Small Finance Bank shed 1.74%. The bank said that Reserve bank of India (RBI) has approved the appointment of Sanjeev Nautiyal as the managing director (MD) & chief executive officer (CEO) of the bank for the period of 3 years with effect from 1 July 2024. Dr Reddy's Laboratories shed 0.87%. The pharma major said that it has launched Doxycycline Capsules in the U.S. market, which is a therapeutic generic equivalent of ORACEA Capsules of Galderma Laboratories.
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| The domestic equity benchmarks traded with modest gains in early trade. The Nifty traded above 22,550 mark. IT, realty, private bank stocks advanced while PSU bank, metal and oil & gas shares declined. At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 419.25 points or 0.57% to 74,300.81 . The Nifty 50 index added 93.40 points or 0.42% to 22,569.25. The broader market underperformed the frontline indices, the S&P BSE Mid-Cap index fell 0.42% and the S&P BSE Small-Cap index lost 0.11%. The market breadth was positive. On the BSE, 1,543 shares rose and 1,490 shares fell. A total of 146 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 2,391.98 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 690.52 crore in the Indian equity market on 3 May, provisional data showed. Market participants will focus on the HSBC Services PMI (final) numbers for April, due on May 6. Economy: In the third consecutive weekly decline, India?s forex reserves dropped $2.412 billion to $637.922 billion during the seven days ended April 26, according to the RBI data. For the week ended April 26, the foreign currency assets ? a major component of the reserves ? decreased $1.159 billion to $559.701 billion, the data released on Friday showed. Gold reserves decreased $1.275 billion to $55.533 billion during the week. The special drawing rights (SDRs) were up $15 million to $18.048 billion, said the RBI. India?s reserve position with the IMF was also up $8 million to $4.639 billion in the reporting week, the apex bank data showed. Politics: The third phase of voting for the Lok Sabha elections 2024 will be held on 7 May 2024. In the third phase, voting will take place in 96 LS constituencies from 12 states, including Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Uttar Pradesh, and West Bengal. The BJP aims for a third consecutive term, while the opposition, including the Congress, has formed the Indian National Developmental Inclusive Alliance (INDIA) bloc to oppose PM Modi's re-election. These elections span over seven phases from April 19 to June 1, and the results will be announced on June 4. Stocks in Spotlight: Kotak Mahindra Bank jumped 4.34% after the Bank reported 18% rise in standalone net profit to Rs 4,133 crore in Q4 FY24 from Rs 3,496 crore in Q4 FY23. Total income of the bank increased by 27% YoY to Rs 15,285.35 crore during the period under review. Titan Company slipped 4.51%. The Tata Group company reported 7.08% rise in standalone net profit to Rs 786 crore in Q4 FY24 as against Rs 734 crore reported in Q4 FY23. Revenue from operations jumped 17.47% year on year (YoY) to Rs 10,047 crore in the quarter ended 31 March 2024. Avenue Supermarts (Dmart) added 0.84%. The company reported consolidated net profit of Rs 563 crore in Q4 FY24 as against Rs 460 crore reported in Q4 FY23. Revenue from operations rose to Rs 12,727 crore in the quarter ended 31 March 2024 from Rs 10,594 in the quarter ended 31 March 2023. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.36% to 7.123 as compared with previous close 7.149. In the foreign exchange market, the rupee is edged higher against the dollar. The partially convertible rupee was hovering at 83.4525, compared with its close of 83.4550 during the previous trading session. MCX Gold futures for 5 June 2024 settlement rose 0.40% to Rs 70,938. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.12% to 105.16. The United States 10-year bond yield rose 0.16% to 4.505. In the commodities market, Brent crude for July 2024 settlement gained 15 cents or 0.18% to $ 83.11 a barrel. Global Markets: Most of the Asian stocks trading higher on Monday as a softer-than-expected U.S. jobs report fueled hopes that the Federal Reserve could start cutting rates soon. Investors, meanwhile, awaited the Reserve Bank of Australia?s rate decision on Tuesday and China?s April trade data on Thursday. Japan and South Korea?s markets are closed for a public holiday. U.S. stocks closed sharply higher Friday, as Treasury yields fell after a softer-than-anticipated April jobs report. The Berkshire Annual Meeting 2024 on Saturday proceeded in Omaha with Warren Buffett, Greg Abel, and Ajit Jain fielding shareholder queries. Buffett spoke on a variety of issues, including the India opportunity, stock market outlook, US dollar, AI, Apple stake cuts, global investments and more. The U.S. economy added fewer jobs than expected in April while the unemployment rate rose. Nonfarm payrolls increased by 175,000 on the month. The unemployment rate ticked higher to 3.9%, compared to 3.8% in the prior month, according to the Bureau of Labor Statistics.
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| The headline equity indices witnessed sharp sell-off on Friday. The Nifty closed below the 22,500 level after hitting the day?s high of 22,794.70 in early trade. The barometer index, the S&P BSE Sensex tumbled 732.96 points or 0.98% to 73,878.15. The Nifty 50 index fell 172.35 points or 0.76% to 22,475.85. The Nifty 50 hit an all-time high of 22,794.70 during early trade. In the broader market, the S&P BSE Mid-Cap index shed 0.21% and the S&P BSE Small-Cap index fell 0.55%. The market breadth was weak. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, climbed 8.72% to 14.62. Among the sectoral indices, the Nifty Healthcare index (up 0.08%), the Nifty Metal index (down 0.04%) and the Nifty Financial Services index (down 0.35%) outperformed the Nifty 50 index. Meanwhile, the Nifty Realty index (down 1.03%), the Nifty Oil & Gas index (down 0.98%) and the Nifty IT index (down 0.89%) underperformed the Nifty 50 index. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.13% to 7.153 as compared with previous close 7.162. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.4375, compared with its close of 83.4675 during the previous trading session. MCX Gold futures for 5 June 2024 settlement fell 0.16% to Rs 70,621. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 105.20. The United States 10-year bond yield lost 0.09% to 4.564. In the commodities market, Brent crude for July 2024 settlement gained 23 cents or 0.27% to $83.90 a barrel. Global Markets: The Dow Jones index futures were up 312 points, indicating a positive opening in the US stocks today. European stocks advanced while most of the Asian stocks ended lower on Friday as investors look ahead to the release of key U.S. employment data later today. Stock markets in Japan and mainland China were shut for public holidays. The employment data release will be closely watched by the trading community after the U.S. Federal Reserve held interest rates steady at the end of its two-day meeting on Wednesday. The Japanese yen was still in focus as it continued to show strength against the U.S. dollar amid suspected government intervention to support the currency on Monday. Stocks in the U.S. closed higher on Thursday as investors looked ahead to more earnings as well as the nonfarm payrolls report set to be released on Friday.
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| The key domestic equities indices traded with substantial losses in mid-afternoon trade. The Nifty traded below the 22,400 level after hitting the day?s high of 22,794.70 in early trade. Oil & gas shares declined after advancing in the past trading session. At 14:25 IST, the barometer index, the S&P BSE Sensex, tumbled 1016.29 points or 1.36% to 73,590.85. The Nifty 50 index fell 255.35 points or 1.13% to 22,392.85. The Nifty 50 reached an all-time high of 22,794.70 during early trade. In the broader market, the S&P BSE Mid-Cap index shed 0.50% and the S&P BSE Small-Cap index fell 0.84%. The market breadth was weak. On the BSE, 1,233 shares rose and 2,522 shares fell. A total of 134 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, climbed 11.95% to 15.05. Buzzing Index: The Nifty Oil& gas index declined 1.40% to 11,757.60. The index advanced in the past trading session. Castrol India (down 3.41%), Aegis Logistics (down 3.22%), Reliance Industries (down 3.07%), Petronet LNG (down 2.32%) and Mahanagar Gas (down 2.28%) were the top losers. Among the other losers were Indraprastha Gas (down 1.91%), Indian Oil Corporation (down 1.9%), GAIL (India) (down 1.49%), Oil India (down 1.25%) and Bharat Petroleum Corporation (down 1.03%). Numbers to track: The yield on India's 10-year benchmark federal paper shed 0.14% to 7.152 from previous close of 7.162. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.4050, compared with its close of 83.4675 during the previous trading session. MCX Gold futures for 5 June 2024 settlement declined 0.16% to Rs 70,624. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08% to 105.21. The United States 10-year bond yield advanced 0.24% to 4.579. In the commodities market, Brent crude for July 2024 settlement rose 17 cents or 0.20% to $83.84 a barrel. Stocks in Spotlight: Godrej Properties rose 0.29%. The company said that its consolidated net profit jumped 14.34% to Rs 471.26 crore in Q4 FY24 as compared with Rs 412.14 crore in Q4 FY23. Revenue from operations declined 13.37% YoY to Rs 1,426.09 crore in Q4 FY24. Bajaj Finance added 1.88% after the Reserve Bank of India (RBI) lifted restrictions on the sanction and disbursal of new loans under 'eCOM' and online/digitally on 'Insta EMI Card'. In exchange filings on Thursday, Bajaj Finance said that the RBI, based on the remedial actions taken by the company, has conveyed its decision of lifting the said restrictions on eCOM and online digital ?Insta EMI Card?, with immediate effect. The company would now resume sanction and disbursal of loans in the above two business segments including issuance of EMI cards,? the NBFC said in a statement. CEAT declined 3.96% after the company?s consolidated net profit fell 18.80% to Rs 108.56 crore in Q4 FY24 as compared net to Rs 133.70 crore posted in corresponding quarter last year. Revenue from operations increased 4.07% to Rs 2,991.85 crore in Q4 FY24 as against revenue of Rs 2,874.82 crore posted in Q4 FY23.
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| The frontline indices traded with major losses in afternoon trade. The Nifty traded below the 22,450 mark after hitting the day?s high of 22,794.70 in early trade. Barring the Nifty Healthcare index, all the other sectoral indices on the NSE were in red. At 13:30 IST, the barometer index, the S&P BSE Sensex, tumbled 908.63 points or 1.26% to 73,684.34. The Nifty 50 index fell 231.25 points or 1.02% to 22,416.95. The Nifty 50 reached an all-time high of 22,794.70 during early trade. In the broader market, the S&P BSE Mid-Cap index shed 0.30% and the S&P BSE Small-Cap index fell 0.73%. The market breadth was weak. On the BSE, 1,277 shares rose and 2,450 shares fell. A total of 137 shares were unchanged The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, climbed 10.07% to 13.45. Gainers & Losers: Caol India (up 2.97%), Bajaj Finance (up 1.83%), Grasim Industries (up 1.36%), DR Reddy's Laboratories (up 1.19%) and Oil & Natural Gas Corporation (up 1.13%) were major Nifty gainers. Bharti Airtel (down 3.22%), Reliance Industries (down 2.83%), Nestle India (down 2.40%), Larsen & Toubro (down 2.32%) and JSW Steel (down 2.21%) were major Nifty losers. Stocks in Spotlight: Coforge tumbled 9.51% after IT company?s consolidated net profit decreased 6.01% to Rs 223.7 crore on in Q4 FY24 as compared to Rs 238 crore in Q3 FY24. Revenue from operations stood at Rs 2,358.5 crore in fourth quarter of FY24, registering a growth of 1.52%. Ajanta Pharma rallied 6.51% after the pharmaceutical company reported 65.82% jump in consolidated net profit to Rs 203 crore in Q4 FY24 as compared with Rs 122 crore in Q4 FY23. Revenue increased 19.53% YoY to Rs 1,054.08 crore in Q4 FY24. JBM Auto shed 0.88%. The JBM Group company?s consolidated net profit surged 98.61% to Rs 55.75 crore in Q4 FY24 as against Rs 28.07 crore in Q4 FY23. Revenue from operations jumped 47.11% year on year (YoY) to Rs 1,485.95 crore in the quarter ended 31 March 2024. CEAT declined 3.89% after the company?s consolidated net profit fell 18.80% to Rs 108.56 crore in Q4 FY24 as compared net to Rs 133.70 crore posted in corresponding quarter last year. Revenue from operations increased 4.07% to Rs 2,991.85 crore in Q4 FY24 as against revenue of Rs 2,874.82 crore posted in Q4 FY23. Bajaj Finance added 1.71% after the Reserve Bank of India (RBI) lifted restrictions on the sanction and disbursal of new loans under 'eCOM' and online/digitally on 'Insta EMI Card'. Global Markets: European stocks advanced while Asian stocks traded mixed on Friday as investors look ahead to the release of key U.S. employment data later today. Stock markets in Japan and mainland China were shut for public holidays. The employment data release will be closely watched by the trading community after the U.S. Federal Reserve held interest rates steady at the end of its two-day meeting on Wednesday. The Japanese yen was still in focus as it continued to show strength against the U.S. dollar amid suspected government intervention to support the currency on Monday. Stocks in the U.S. closed higher on Thursday as investors looked ahead to more earnings as well as the nonfarm payrolls report set to be released on Friday.
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| The headline equity indices traded in a narrow range with substantial losses in early afternoon trade. The Nifty traded around the 22,500 level after hitting the day?s high of 22,794.70 in early trade. PSU bank shares extended losses for the second consecutive trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 627.87 points or 0.84% to 73,986.01. The Nifty 50 index fell 148.75 points or 0.66% to 22,499.45. The Nifty 50 reached an all-time high of 22,794.70 during early trade. In the broader market, the S&P BSE Mid-Cap index shed 0.25% and the S&P BSE Small-Cap index fell 0.64%. The market breadth was weak. On the BSE, 1,268 shares rose and 2,390 shares fell. A total of 157 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 9.76% to 14.76. The Nifty 30 May 2024 futures were trading at 22,637, at a premium of 137.55 points as compared with the spot at 22,499.45. The Nifty option chain for the 30 May 2024 expiry showed maximum Call OI of 26.6 lakh contracts at the 23,500 strike price. Maximum Put OI of 35 lakh contracts were seen at 22,000 strike price. Buzzing Index: The Nifty PSU Bank index slipped 1.56% to 7,467.55. The index fell 1.81% in past two trading sessions. Punjab & Sind Bank (down 2.41%), Union Bank of India (down 2.33%), Bank of Maharashtra (down 2.29%), Central Bank of India (down 2.04%), Indian Overseas Bank (down 1.72%), UCO Bank (down 1.69%), Bank of India (down 1.62%), Punjab National Bank (down 1.52%), Indian Bank (down 1.27%) and Canara Bank (down 0.91%) declined.
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| The key equity indices continued to trade in negative territory with major losses in mid-morning trade. The Nifty at 22,550 mark after hitting day?s high at 22,794.70 in early trade. IT shares declined after advancing in the past trading session. At 11:25 IST, the barometer index, the S&P BSE Sensex, declined 458.84 points or 0.60% to 74,159.23. The Nifty 50 index fell 97.70 points or 0.43% to 22,550.50 In the broader market, the S&P BSE Mid-Cap index shed 0.01% and the S&P BSE Small-Cap index added 0.45%. The market breadth was negative. On the BSE, 1,547 shares rose and 1,991 shares fell. A total of 173 shares were unchanged. Buzzing Index: The Nifty IT index declined 0.73% to 32,962.60. The index rose 0.01% in the past trading sessions. Coforge (down 8.79%), LTIMindtree (down 0.73%), Tech Mahindra (down 0.71%), HCL Technologies (down 0.55%) and Infosys (down 0.42%) were the top losers. Among the other losers were Tata Consultancy Services (down 0.3%), Persistent Systems (down 0.24%), L&T Technology Services (down 0.06%). Stock in Spotlight: JBM auto shed 0.08%. The JBM Group company?s consolidated net profit surged 98.61% to Rs 55.75 crore in Q4 FY24 as against Rs 28.07 crore in Q4 FY23. Revenue from operations jumped 47.11% year on year (YoY) to Rs 1,485.95 crore in the quarter ended 31 March 2024. Global Market: Most of the Asian markets advanced on Friday as investors look ahead to the release of key U.S. employment data later today. Stock markets in Japan and mainland China were shut for public holidays. The employment data release will be closely watched by the trading community after the U.S. Federal Reserve held interest rates steady at the end of its two-day meeting on Wednesday. The Japanese yen was still in focus as it continued to show strength against the U.S. dollar amid suspected government intervention to support the currency on Monday. Stocks in the U.S. closed higher on Thursday as investors looked ahead to more earnings as well as the nonfarm payrolls report set to be released on Friday.
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| The Indian equity indices pared all early gains and traded in negative terrain with minor losses in morning trade. The Nifty traded below the 22,650 mark. Metal shares witnessed buying demand for the second consecutive trading session. At 10:28 IST, the barometer index, the S&P BSE Sensex, declined 152.31 points or 0.21% to 74,465.75. The Nifty 50 index fell 18 points or 0.08% to 22,630.20. In the broader market, the S&P BSE Mid-Cap index rose 0.43% and the S&P BSE Small-Cap index added 0.01%. The market breadth was negative. On the BSE, 1,742 shares rose and 1,729 shares fell. A total of 183 shares were unchanged. Earinngs Today: Titan Company (up 0.03%), Britannia Industries(down 0.43%), Adani Green Energy(up 0.36%), Godrej Properties(up 0.09%), MRF( down 2.87%), Mahgalore Refinery and Petrochemicals(down 0.49%), Carborundum Universal(down 2.90%), Inox Wind(down 0.64%), Aptus Value Housing Finance(down 0.48%), First Source Solutions(up 0.19%), Raymond (down 2.63%), Go Fashions(India) (up 0.19%), Aarti Drugs(down 0.13%), Tatva Chintam Pharma Chemical (up .65%) will declare their Q4 earnings today. Buzzing Index: The Nifty Metal index advanced 1.07% to 9,373.95. The index jumped 2.16% in the two consecutive trading sessions. Hindustan Zinc (up 7.13%), Vedanta (up 2.18%), Steel Authority of India (up 1.99%), NMDC (up 1.76%) and Tata Steel (up 1.58%) were the top gainers. Among the other gainers were Jindal Steel & Power (up 1.5%), JSW Steel (up 1.16%), Hindalco Industries (up 1.08%), Welspun Corp (up 1.02%) and APL Apollo Tubes (up 0.8%). Stocks in Spotlight: CIE Automotive India shed 0.02%. The company?s consolidated net profit declined 17.42% to Rs 231 crore on 0.55% fall in revenue to Rs 2,427 crore in Q4 FY24 over Q4 FY23. Ajanta Pharma rallied 8.86% after the pharmaceutical company reported 65.82% jump in consolidated net profit to Rs 203 crore in Q4 FY24 as compared with Rs 122 crore in Q4 FY23. Revenue increased 19.53% YoY to Rs 1,054.08 crore in Q4 FY24. Astec Lifesciences jumped 2.69%. The company reported consolidated net loss of Rs 0.96 crore in Q4 FY24 as compared with net loss of Rs 4.97 crore in Q4 FY23. Revenue jumped 21.08% YoY to Rs 154 crore in Q4 FY24.
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| The domestic equity indices traded with major gains in early trade. The Nifty traded above the 22,750 mark. Barring IT index all the other sectoral indices on the NSE were traded in green. At 09:26 IST, the barometer index, the S&P BSE Sensex, advanced 448.42 points or 0.60% to 75,059.45. The Nifty 50 index added 132.65 points or 0.59% to 22,780.55. In the broader market, the S&P BSE Mid-Cap index rose 0.57% and the S&P BSE Small-Cap index added 0.35%. The market breadth was strong. On the BSE, 2,029 shares rose and 697 shares fell. A total of 111 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 964.47crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,352.44 crore in the Indian equity market on 2 May 2024, provisional data showed. Numbers to track: The yield on India's 10-year benchmark federal paper shed 0.04% to 7.159 from previous close of 7.162. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3725, compared with its close of 83.4675 during the previous trading session. MCX Gold futures for 5 June 2024 settlement declined 0.12% to Rs 70,654. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 105.25. The United States 10-year bond yield advanced 0.15% to 4.575. In the commodities market, Brent crude for June 2024 settlement rose 25 cents or 0.30% to $83.92 a barrel. Stocks in Spotlight: Coal India shed 0.41% The company?s consolidated net profit jumped 25.8% to Rs 8640 crore in Q4 FY24 as compared with Rs 6,869 crore in Q4 FY23. Revenue declined 1.95% YoY to Rs 37,410 crore in Q4 FY24. Coforge declined 8.33% after the IT company has reported 5.6% decline in consolidated net profit to Rs to 229 crore from 243 crore posted in corresponding quarter last year. Revenue rose 1.51% YoY to Rs 2,358 crore in Q4 FY24. Railtel Corporation of India fell 0.86%. The company?s consolidated net profit jumped 24.76% YoY to Rs 77.53 crore in Q4 FY24. Revenue surged 24.58% to Rs 833 crore in Q4 FY24 as compared with Rs 688 crore posted in Q4 FY23. Global market: Asian markets traded higher on Friday as investors look ahead to the release of key U.S. employment data later today. Stock markets in Japan and mainland China were shut for public holidays. The employment data release will be closely watched by the trading community after the U.S. Federal Reserve held interest rates steady at the end of its two-day meeting on Wednesday. The Japanese yen was still in focus as it continued to show strength against the U.S. dollar amid suspected government intervention to support the currency on Monday. Stocks in the U.S. closed higher on Thursday as investors looked ahead to more earnings as well as the nonfarm payrolls report set to be released on Friday.
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| The key equity indices traded with moderate gains in mid-afternoon trade. The Nifty traded near the 22,650 mark. Pharma shares rallied after declining in the past trading session. Trading could be a volatile due to the expiry of weekly index options on the NSE. At 14:26 IST, the barometer index, the S&P BSE Sensex, was up 154.96 points or 0.21% to 74,629.06. The Nifty 50 index added 56.70 points or 0.25% to 22,661.55. In the broader market, the S&P BSE Mid-Cap index rose 0.88% and the S&P BSE Small-Cap index added 0.28%. The market breadth was positive. On the BSE, 1,914 shares rose and 1,881 shares fell. A total of 130 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.20% to 13.54. Economy: Despite falling from 59.1 in March to 58.8 in April, the seasonally adjusted HSBC India Manufacturing Purchasing Managers? Index (PMI) signalled the second-best improvement in the health of the sector for three-and-a-half years. The PMI was comfortably above both the neutral mark of 50.0 and its long-run average (53.9). The Indian manufacturing sector started the first fiscal quarter in a high gear, according to the latest HSBC PMI data. Firms experienced a sharp upturn in new business intakes, and scaled up production accordingly. April's rise in raw material stocks was supported by a further increase in buying levels. Inputs were purchased to the greatest degree since June 2023. Another factor that facilitated this was suppliers' ability to deliver items in a timely manner. Vendor performance improved for the second straight month. Pranjul Bhandari, Chief India Economist at HSBC, said: ?On the price front, higher costs of raw materials and labour led to a modest uptick in input costs, but inflation remains below the historical average. However, firms passed these increases onto consumers through higher output charges, as demand remained resilient, resulting in improved margins. Meanwhile, the Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at Rs 2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST revenue for April 2024 stands at Rs 1.92 lakh crore, reflecting an impressive 15.5% growth compared to the same period last year. In the month of April, 2024, the central government settled Rs 50,307 crore to CGST and Rs 41,600 crore to SGST from the IGST collected. This translates to total revenue of Rs 94,153 crore for CGST and Rs 95,138 crore for SGST for April, 2024 after regular settlement. Buzzing Index: The Pharma index advanced 0.88% to 19,138.40. The index fell 0.66% in the past trading session. Biocon (up 4.32%), Sanofi India (up 3.78%), Zydus Lifesciences (up 2.06%), Sun Pharmaceuticals Industries (up 1.46%) and Torrent Pharmaceuticals (up 1.39%) were the top gainers. Among the other gainers were Cipla (up 1.22%), Dr Reddys Laboratories (up 1.2%), Abbott India (up 0.84%), Ipca Laboratories (up 0.48%) and Aurobindo Pharma (up 0.4%). Numbers to track: The yield on India's 10-year benchmark federal paper shed 0.39% to 7.167 from previous close of 7.195. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.4475, compared with its close of 83.4350 during the previous trading session. MCX Gold futures for 5 June 2024 settlement rose 0.02% to Rs 70,740. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 105.72. The United States 10-year bond yield advanced 0.52% to 4.616. In the commodities market, Brent crude for June 2024 settlement rose 72 cents or 0.86% to $84.08 a barrel. Stocks in Spotlight: Adani Energy Solutions fell 0.87% The company said that its consolidated net profit declined 13.3% to Rs 381.29 crore in Q4 FY24 as compared with Rs 439.60 crore in Q4 FY23. Ester Industries jumped 4.81% after the company announced the signing of a joint venture agreement with Loop Industries Inc. for setting up manufacturing facility in India to produce rDMT, rMEG and speciality polymers. TVS Motor Company rose 0.78%. The two-wheeler maker reported monthly sales of 383,615 units in April 2024, registering a growth of 25% as against 306,224 units sold in April 2023.
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| The headline equity benchmarks continued to trade with limited gains in afternoon trade. The Nifty traded near the 22,700 level. Metak, auto and oil & gas stocks advanced while media, realty and bank shares declined. Trading could be a volatile due to the expiry of weekly index options on the NSE. At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 289.43 points or 0.38% to 74,768.87. The Nifty 50 index added 94 points or 0.42% to 22,698.85. In the broader market, the S&P BSE Mid-Cap index rose 1.03% and the S&P BSE Small-Cap index added 0.38%. The market breadth was positive. On the BSE, 1,998 shares rose and 1,759 shares fell. A total of 133 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 6.02% to 13.65. Economy: Despite falling from 59.1 in March to 58.8 in April, the seasonally adjusted HSBC India Manufacturing Purchasing Managers? Index (PMI) signalled the second-best improvement in the health of the sector for three-and-a-half years. The PMI was comfortably above both the neutral mark of 50.0 and its long-run average (53.9). The Indian manufacturing sector started the first fiscal quarter in a high gear, according to the latest HSBC PMI data. Firms experienced a sharp upturn in new business intakes, and scaled up production accordingly. April's rise in raw material stocks was supported by a further increase in buying levels. Inputs were purchased to the greatest degree since June 2023. Another factor that facilitated this was suppliers' ability to deliver items in a timely manner. Vendor performance improved for the second straight month. Pranjul Bhandari, Chief India Economist at HSBC, said: ?On the price front, higher costs of raw materials and labour led to a modest uptick in input costs, but inflation remains below the historical average. However, firms passed these increases onto consumers through higher output charges, as demand remained resilient, resulting in improved margins. Meanwhile, the Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at Rs 2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST revenue for April 2024 stands at Rs 1.92 lakh crore, reflecting an impressive 15.5% growth compared to the same period last year. In the month of April, 2024, the central government settled Rs 50,307 crore to CGST and Rs 41,600 crore to SGST from the IGST collected. This translates to total revenue of Rs 94,153 crore for CGST and Rs 95,138 crore for SGST for April, 2024 after regular settlement. Gainers & Losers: Bharat Petroleum Corporation (up 4.31%), Power Grid Corporation of India (up 4.26%), Asian Paints (up 2.78%), Bajaj Auto (up 2.22%) and NTPC (up 2.02%) were major Nifty gainers. Kotak Mahindra bank (down 2.60%), Bharti Airtel (down 1.63%), ICICI Bank (down 1.21%), HDFC Life Insurance Company (down 1%) and Axis Bank (down 0.98%) were major Nifty losers. Stocks in Spotlight: Maruti Suzuki India rose 0.07%. The car manufacturer announced that its total production increased 16.99% to 169,751 units in April 2024 as against 145,096 units recorded in April 2023. Adani Power shed 0.04%. The power generation company reported 47.8% fall in net profit to Rs 2,737 crore in Q4 FY24 from Rs 5,242 crore in Q4 FY23. Continuing revenue from operations increased by 27.3% YoY to Rs 13,288 crore in the fourth quarter. The company had recorded revenues of Rs 10,436 crore in Q4 FY23. Hero MotoCorp added 0.51%. The company said that it had sold 533,585 units of motorcycles and scooters in April 2024, which is higher by 34.7% as compared with sales of 396,107 units recorded in April 2023. Ambuja Cements rose 0.43%. The cement major?s consolidated net profit surged 63.61% to Rs 1,055.16 crore in Q4 FY24 as against Rs 644.94 crore recorded in Q4 FY23. Revenue from operations was at Rs 8,893.99 crore in the March quarter, up 11.65% from Rs 7,965.98 crore posted in the same period last year. Havells India gained 0.27%. The company?s consolidated net profit jumped 24.8% YoY to Rs 447 crore in Q4 FY24. Revenue jumped 12% to Rs 5,442 crore in Q4 FY24 as compared with Rs 4,859 crore in Q4 FY23. Global Markets: Most of the European stocks traded higher while Asian stocks declined on Thursday, after the U.S. Federal Reserve opted to hold interest rates steady at the end of its two-day meeting. Fed Chair Jerome Powell ruled out the possibility of a rate hike, easing worries over the central bank likely not being able to rein in inflation. South Korea?s consumer prices rose at a slower pace in April from March on a year-on-year basis, according to official data. April CPI came in at 2.9% year on year, compared with a 3.1% rise in March. Core CPI, excluding food and energy prices, rose 2.3%. It was slightly slower than a 2.4% increase in March. US stocks closed with a mixed performance on Wednesday following the Federal Reserve's decision to keep its key interest rate unchanged, as widely anticipated. The central bank indicated a potential rate cut in the future but expressed uncertainty regarding sustained progress on inflation.
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| The frontline indices continued to trade in a narrow range with modest gains in early afternoon trade. The Nifty traded near the 22,700 level. Oil & gas shares advanced after declining in the past trading session. Trading could be a volatile due to the expiry of weekly index options on the NSE. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 284.09 points or 0.38% to 74,767.93. The Nifty 50 index added 91.65 points or 0.41% to 22,696.50. In the broader market, the S&P BSE Mid-Cap index rose 0.89% and the S&P BSE Small-Cap index added 0.40%. The market breadth was positive. On the BSE, 2,004 shares rose and 1,703 shares fell. A total of 139 shares were unchanged. Economy: Despite falling from 59.1 in March to 58.8 in April, the seasonally adjusted HSBC India Manufacturing Purchasing Managers? Index (PMI) signalled the second-best improvement in the health of the sector for three-and-a-half years. The PMI was comfortably above both the neutral mark of 50.0 and its long-run average (53.9). The Indian manufacturing sector started the first fiscal quarter in a high gear, according to the latest HSBC PMI data. . Firms experienced a sharp upturn in new business intakes, and scaled up production accordingly. April's rise in raw material stocks was supported by a further increase in buying levels. Inputs were purchased to the greatest degree since June 2023. Another factor that facilitated this was suppliers' ability to deliver items in a timely manner. Vendor performance improved for the second straight month. Pranjul Bhandari, Chief India Economist at HSBC, said: ?On the price front, higher costs of raw materials and labour led to a modest uptick in input costs, but inflation remains below the historical average. However, firms passed these increases onto consumers through higher output charges, as demand remained resilient, resulting in improved margins. Meanwhile, the Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at Rs 2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST revenue for April 2024 stands at Rs 1.92 lakh crore, reflecting an impressive 15.5% growth compared to the same period last year. In the month of April, 2024, the central government settled Rs 50,307 crore to CGST and Rs 41,600 crore to SGST from the IGST collected. This translates to total revenue of Rs 94,153 crore for CGST and Rs 95,138 crore for SGST for April, 2024 after regular settlement. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 7.05% to 13.78. The Nifty 30 May 2024 futures were trading at 22,775.85, at a premium of 79.35 points as compared with the spot at 22,696.50. The Nifty option chain for the 30 May 2024 expiry showed maximum Call OI of 25.3 lakh contracts at the 23,500 strike price. Maximum Put OI of 34.2 lakh contracts were seen at 22,000 strike price. Buzzing Index: The Nifty Oil & Gas index gained 1.05% to 11,950.40. The index shed 0.61% in the past trading session. Hindustan Petroleum Corporation (up 7.54%), Bharat Petroleum Corporation (up 4.05%), Petronet LNG (up 3.56%), Indian Oil Corporation (up 2.87%), Oil India (up 0.86%), Adani Total Gas (up 0.84%), Reliance Industries (up 0.51%) and Mahanagar Gas (up 0.22%) advanced. On the other hand, Aegis Logistics (down 5.17%), GAIL (India) (down 2.08%) and Indraprastha Gas (down 1.67%) edged lower. Adani Total Gas rose 0.84%. The natural gas distribution company?s standalone net profit jumped 58.6% to Rs 165.34 crore in Q4 FY24 as against Rs 104.25 crore recorded in Q4 FY23. Revenue from operations (excluding excise duty) rose 4.61% year on year (YoY) to Rs 1,165.95 crore in the quarter ended 31 March 2024. Stocks in Spotlight: Maruti Suzuki India shed 0.11%. The car manufacturer announced that its total production increased 16.99% to 169,751 units in April 2024 as against 145,096 units recorded in April 2023. Adani Power shed 0.21%. The power generation company reported 47.8% fall in net profit to Rs 2,737 crore in Q4 FY24 from Rs 5,242 crore in Q4 FY23. Continuing revenue from operations increased by 27.3% YoY to Rs 13,288 crore in the fourth quarter. The company had recorded revenues of Rs 10,436 crore in Q4 FY23.
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| The domestic equity indices continued to trade in positive terrain with minor gains in mid-morning trade. The Nifty traded above the 22,600 level. Metal shares advanced after declining in the past trading session. Trading could be a volatile due to the expiry of weekly index options on the NSE. At 11:25 IST, the barometer index, the S&P BSE Sensex, advanced 109.37 points or 0.15% to 74,596.34. The Nifty 50 index added 35.85 points or 0.16% to 22,640.70 In the broader market, the S&P BSE Mid-Cap index rose 0.65% and the S&P BSE Small-Cap index added 0.26%. The market breadth was positive. On the BSE, 1,931 shares rose and 1,605 shares fell. A total of 191 shares were unchanged. Buzzing index: The Nifty Metal index jumped 0.98% to 22,667.35. The index fell 1% in the past trading session. Welspun Corp (up 3.62%), Hindustan Zinc (up 1.63%), Tata Steel (up 1.39%), Vedanta (up 1.23%), Adani Enterprises (up 1.22%), Hindustan Copper (up 1.17%), APL Apollo Tubes (up 1.08%), Jindal Steel & Power (up 0.99%), JSW Steel (up 0.94%) and Jindal Stainless (up 0.57%) advance. On the other hand, Hindalco Industries (down 0.45%), Steel Authority of India (down 0.15%) and Ratnamani Metals & Tubes (down 0.15%) declined. Economy: Despite falling from 59.1 in March to 58.8 in April, the seasonally adjusted HSBC India Manufacturing Purchasing Managers? Index (PMI) signalled the second-best improvement in the health of the sector for three-and-a-half years. The PMI was comfortably above both the neutral mark of 50.0 and its long-run average (53.9). The Indian manufacturing sector started the first fiscal quarter in a high gear, according to the latest HSBC PMI data. . Firms experienced a sharp upturn in new business intakes, and scaled up production accordingly. April's rise in raw material stocks was supported by a further increase in buying levels. Inputs were purchased to the greatest degree since June 2023. Another factor that facilitated this was suppliers' ability to deliver items in a timely manner. Vendor performance improved for the second straight month. Pranjul Bhandari, Chief India Economist at HSBC, said: ?On the price front, higher costs of raw materials and labour led to a modest uptick in input costs, but inflation remains below the historical average. However, firms passed these increases onto consumers through higher output charges, as demand remained resilient, resulting in improved margins. Stocks in Spotlight: Hero MotoCorp added 1.03% after the company said that it had sold 533,585 units of motorcycles and scooters in April 2024, which is higher by 34.7% as compared with sales of 396,107 units recorded in April 2023. Ambuja Cements rose 0.37%. The cement major?s consolidated net profit surged 63.61% to Rs 1,055.16 crore in Q4 FY24 as against Rs 644.94 crore recorded in Q4 FY23. Revenue from operations was at Rs 8,893.99 crore in the March quarter, up 11.65% from Rs 7,965.98 crore posted in the same period last year. Havells India rose 0.23%. The company?s consolidated net profit jumped 24.8% YoY to Rs 447 crore in Q4 FY24. Revenue jumped 12% to Rs 5,442 crore in Q4 FY24 as compared with Rs 4,859 crore in Q4 FY23. Global Markets: Asia-Pacific stock markets were mostly declined on Thursday, after the U.S. Federal Reserve opted to hold interest rates steady at the end of its two-day meeting. Fed Chair Jerome Powell ruled out the possibility of a rate hike, easing worries over the central bank likely not being able to rein in inflation. South Korea?s consumer prices rose at a slower pace in April from March on a year-on-year basis, according to official data. April CPI came in at 2.9% year on year, compared with a 3.1% rise in March. Core CPI, excluding food and energy prices, rose 2.3%. It was slightly slower than a 2.4% increase in March. US stocks closed with a mixed performance on Wednesday following the Federal Reserve's decision to keep its key interest rate unchanged, as widely anticipated. The central bank indicated a potential rate cut in the future but expressed uncertainty regarding sustained progress on inflation.
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| The domestic equity indices traded with limited gains in morning trade. The Nifty scaled above the 22,650 level. Auto shares rallied for the second consecutive trading session. Trading could be a volatile due to the expiry of weekly index options on the NSE. At 10:25 IST, the barometer index, the S&P BSE Sensex, advanced 199.32 points or 0.27% to 74,683.01. The Nifty 50 index added 58.35 points or 0.26% to 22,663.20. In the broader market, the S&P BSE Mid-Cap index rose 0.68% and the S&P BSE Small-Cap index added 0.19%. The market breadth was positive. On the BSE, 1,957 shares rose and 1,521 shares fell. A total of 182 shares were unchanged. Coal India (up 0.15%), Adani Enterprises (up 0.84%), Adani Ports and Special Economic Zone (up 0.01%), Ajanta Pharma (down 0.13%), Blue Dart Express (down 0.43%), Dabur India (up 0.29%), Blue Star (up 0.29%), Ceat (up 1.83%), CIE Automotive India (up 0.19%), Coforge (down 0.96%), Federal Bank (up 4.15%), JBM Auto (up 3.21%), RailTel Corporation of India (up 1.71%), Ramkrishna Forgings(up 0.85%), South Indian Bank (down 0.03%), Ugro Capital (up 5.19%), and Voltamp Transformers (up 0.70%) will announce their quarterly earnings later in the day. Buzzing index: The Nifty Auto index jumped 0.83% to 22,667.35. The index increased 2.67% in the two consecutive trading sessions. Ashok Leyland (up 2.28%), Bosch (up 2.28%), Mahindra & Mahindra (up 2%), Bajaj Auto (up 1.44%) and Tata Motors (up 1.19%) were the top gainers. Among the other gainers were Tata Motors-DVR (up 1.06%), Apollo Tyres (up 0.89%), TVS Motor Company (up 0.73%), Hero MotoCorp (up 0.73%) and Balkrishna Industries (up 0.2%). Ashok Leyland added 2.28% after the company reported 10% rise in commercial vehicle sales to 14,271 units in April 2024 from 12,974 units in April 2023. Tata Motors rose 1.19% after the auto major?s total sales jumped 11.4%YoY to 77,521 units in Q4 FY24. The domestic sales stood at 76,399 units, up 12%YoY. In Q4 FY24, total commercial vehicles sales grew 31% year-on-year to 29,538 units and passenger vehicle sales (including EV) increased 2%YoY to 47,983 units. Escorts Kubota shed 0.50%. The agri machinery business division sales decline marginally to 7,515 units for April 2024 as compared with 7,565 units sold in April 2023. Domestic sales fell 1.2%YoY to 7,252 units while exports jumped 10.9%YoY to 347 units in April 2024.
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| The domestic equity indices traded with minor gains in early trade. The Nifty traded above the 22,600 level. Financial services, FMCG and consumer durables shares advanced while realty, IT and Mid-Small Healthcare stocks declined. Trading could be a volatile due to the expiry of weekly index options on the NSE. At 09:25 IST, the barometer index, the S&P BSE Sensex, advanced 153.46 points or 0.20% to 74,627.36. The Nifty 50 index added 40.70 points or 0.18% to 22,645.55. In the broader market, the S&P BSE Mid-Cap index rose 0.43% and the S&P BSE Small-Cap index added 0.13%. The market breadth was positive. On the BSE, 1,712 shares rose and 1,046 shares fell. A total of 129 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 1,071.93 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,429.11 crore in the Indian equity market on 30 April, provisional data showed. Numbers to track: The yield on India's 10-year benchmark federal paper shed 0.36% to 7.169 from previous close of 7.195. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.4450, compared with its close of 83.4350 during the previous trading session. MCX Gold futures for 5 June 2024 settlement rose 0.59% to Rs 71,140. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 105.77. The United States 10-year bond yield advanced 0.61% to 4.620. In the commodities market, Brent crude for June 2024 settlement rose 44 cents or 0.53% to $83.88 a barrel. Stocks in Spotlight: Adani Total Gas rallied 3.48% after the company?s consolidated net profit surged 71.54% to Rs 168 crore in Q4 FY24 as compared with Rs 168 crore posted in corresponding quarter last year. Revenue increased 5.09% YoY to Rs 1,167 crore. Adani Energy Solutions fell 0.86%. The adani group company reported 9.48% increase in consolidated net profit to Rs 381.29 crore in the quarter ended 31 March 2024 as compared with Rs 348.25 crorein the quarter ended 31 March 2023. Revenue jumped 3.15% to Rs 4,706.85 crore in Q4 FY24 from Rs 4,562.73 crore posted in Q4 FY23. Vedant Fashions declined 1.83%. The Manayavar owned company ?s consolidated net profit increased 6.36% to Rs 116 crore on 6.3% increase in revenue to Rs 363 crore in Q4 FY24 over Q4 FY23. The board has declared a dividend of Rs 8.5 per share. Global market: Asia-Pacific stock markets were mostly higher on Thursday, after the U.S. Federal Reserve opted to hold interest rates steady at the end of its two-day meeting. Fed Chair Jerome Powell ruled out the possibility of a rate hike, easing worries over the central bank likely not being able to rein in inflation. South Korea?s consumer prices rose at a slower pace in April from March on a year-on-year basis, according to official data. April CPI came in at 2.9% year on year, compared with a 3.1% rise in March. Core CPI, excluding food and energy prices, rose 2.3%. It was slightly slower than a 2.4% increase in March. US stocks closed with a mixed performance on Wednesday following the Federal Reserve's decision to keep its key interest rate unchanged, as widely anticipated. The central bank indicated a potential rate cut in the future but expressed uncertainty regarding sustained progress on inflation.
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| The frontline indices continued trade in positive terrain with decent gains in mid-afternoon trade. The Nifty traded above the 22,750 level. PSU Bank shares witnessed buying demand for the second consecutive trading session. At 14:25 IST, the barometer index, the S&P BSE Sensex, advanced 392.31 points or 0.53% to 75,065.44. The Nifty 50 index added 126.25 points or 0.56% to 22,769.65.The Bank Nifty hit a record high of 49,974.75 in mid-afternoon trade. In the broader market, the S&P BSE Mid-Cap index rose 1.11% and the S&P BSE Small-Cap index added 0.57%. The market breadth was positive. On the BSE, 2,082 shares rose and 1,676 shares fell. A total of 148 shares were unchanged. The stock exchanges will remain closed on Wednesday, 1 May 2024 on account of Maharashtra Day. Buzzing Index: The PSU Bank index jumped 1.33% to 7,669.60. The index jumped 3.92% in the two consecutive trading sessions. Bank of Baroda (up 3.52%), Punjab National Bank (up 2.11%), Canara Bank (up 0.86%), Bank of India (up 0.67%) and Indian Overseas Bank (up 0.51%), Central Bank of India (up 0.22%), State Bank of India (up 0.07%) advanced. Numbers to track: The yield on India's 10-year benchmark federal paper rose 0.03% to 7.198 from previous close of 7.196. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.5000, compared with its close of 83.4550 during the previous trading session. MCX Gold futures for 5 June 2024 settlement fell 0.91% to Rs 70,949. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.31% to 105.90. The United States 10-year bond yield advanced 0.30% to 4.627. In the commodities market, Brent crude for June 2024 settlement rose 10 cents or 0.11% to $88.50 a barrel. Stocks in Spotlight: Spandana Sphoorty Financial rose 0.50%. The company has reported 22% rise in consolidated net profit to Rs 129 crore on an 8% increase in total income to Rs 710 crore in Q4 FY24 as compared with Q4 FY23. Granules India advanced 1.78% after the company announced that the US Food & Drug Administration (US FDA) has approved its abbreviated new drug application (ANDA) for Colchicine Capsules. Birlasoft declined 2.90%. The company said that its consolidated net profit jumped 11.82% to Rs 180.08 crore in Q4 FY24 as compared with Rs 161.05 crore in Q3 FY24. Revenue from operations rose 1.46% QoQ to Rs 1,362.54 crore in the quarter ended 31 March 2024.
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