Market Close Highlights : Foreign institutional investors (FIIs) net sold ₹964.47 crore shares, while domestic institutional investors (DIIs) pumped in ₹1,352.44 crore on May 2, provisional data from the NSE showed.
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Market Close Highlights : Companies reporting results on May 3 include Titan, Britannia Industries, Tata Technologies, Aarti Drugs, Adani Green Energy, Aptus Value Housing Finance India, Godrej Properties, Inox Green Energy Services, Inox Wind, JSW Infrastructure, MRF, Raymond, and Waaree Technologies. (Image: Pixabay)
Market Close Highlights : Global shares were firmer on Friday ahead of key U.S. non-farm payroll numbers, underpinned by reassurance from the Federal Reserve that the next move in rates would be down.
The yen recovering from 34-year lows was the focus in Asia, capping a tumultuous week that saw suspected intervention from Japanese authorities, leaving the dollar on the back foot. Asian shares surged to their highest in 15 months on Friday led by tech and Hong Kong stocks.
Oil edged higher on the prospect of OPEC continuing output cuts, but the crude benchmarks were headed for the steepest weekly losses in three months on demand uncertainty and easing tensions in the Middle East reducing supply risks.
The MSCI All Country stock index was up 0.23% at 762.23 points, down 3% from its lifetime high in March as investors reassessed when central banks will start cutting interest rates in the face of stickier-than-expected inflation.
In Europe, the STOXX index of 600 companies was up 0.2% at 504.19 points.
The Federal Reserve's signal that the next move in rates would be down has been well received by many investors, helping to put a floor under markets that were also being aided by corporate earnings that are coming in above expectations in the United States, said Eren Osman, wealth management director at Arbuthnot Latham.
U.S. stock index futures were firmer as investors waited for the payrolls figures before the opening bell on Wall Street, where Apple is a focus after the iPhone maker unveiled a record $110 billion share buyback after the close on Thursday.
Nonfarm payrolls likely increased by 243,000 jobs last month after rising 303,000 in March, according to a Reuters survey of economists, with the unemployment rate seen steady.
Markets in Japan and mainland China were closed on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan surged to 550.49, its highest since February 2023.
Hong Kong's Hang Seng Index rose 1.36%, on track for a ninth consecutive day of gains and on its the longest winning streak since January 2018.
The spotlight for much of the week has been on the yen, which was trading at 153.300 per dollar on Friday, having started the week by touching a 34-year low of 160.245 on Monday.
A series of Japanese public holidays as well as Monday's holiday in Britain - the world's biggest FX trading centre - could present a possible window for further intervention by Tokyo. Japanese markets are also closed on Monday.
The dollar index, which measures the U.S. currency against six peers, was last at 105.28. The index is set to clock a 0.8% decline for the week, its worst weekly performance since early March.
In commodities, U.S. crude rose 0.38% to $79.27 per barrel and Brent was at $84.04, up 0.4% on the day. Spot gold eased 0.2% to $2,299 an ounce and was set for a second straight weekly decline.
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03 May 2024, 03:42 PM ISTSensex Today Live : Closing Bell Wrap
Sensex Today Live : Indian benchmark indices fell significantly on Friday, dragged down by a drop in the heavyweight shares of Reliance Industries, as investors booked profits from the day's high. Before the drop, Nifty had climbed to fresh all time high.
Sensex, which had opened higher at 75,017.82, climbed to a high of 75,095.18 in early trades, but gave up its gains to fall more than 1% and touch a low of 73,467.73. At close, Sensex was down 732.96 points, or 0.98%, at 73,878.15.
Meanwhile, Nifty 50, which had opened higher at 22,766.35, climbed to a fresh peak of 22,794.70. It fell more than 1% soon after to touch a low of 22,348.05 as investors made a beeline to book profits. At close, the Nifty 50 was down 172.35 points, or 0.76%, at 22,475.85.
Only six stocks, Bajaj Finance, Bajaj Finserv, Mahindra & Mahindra, Infosys, SBI and ICICI Bank, out of the 30 on the BSE Sensex ended in the green, while Larsen & Toubro, Maruti Suzuki India, Reliance Industries, Nestle India, and Bharti Airtel were the top losers for the day.
Further, 15 out of the 50 stocks on the Nifty 50 ended in the green. Coal India, Grasim Industries, ONGC, Apollo Hospitals Enterprises, and Hindalco were the top gainers for the day, while Larsen & Toubro, Maruti Suzuki India, Nestle India, Reliance Industries, and Bharti Airtel, were the top drags.
The broader market, too, ended in a sea of red, with the BSE MidCap closing down 0.21% and the BSE SmallCap closing down 0.55%.
Apart from the Healthcare and Pharma indices, which ended marginally up by 0.08% and 0.05%, all other sectoral indices ended the day in the red.
The Realty, IT, Auto, Bank, and Media indices were the top losers, shedding 1.03%, 0.89%, 0.85%, 0.62%, and 0.64%, respectively.
03 May 2024, 03:16 PM ISTSensex Today Live : Sector Indices Heat Map
Sensex Today Live : Apart from the Healthcare index, which was up marginally by 0.03%, all other sectoral indices were trading in the red.
The Realty, Auto, IT, Bank, and Media indices were the top losers, shedding 1.01%, 0.90%, 0.82%, 0.73%, and 0.69%, respectively.
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03 May 2024, 03:09 PM ISTSensex Today Live : Broader market indices heat map
Sensex Today Live : The broader market was trading in a sea of red, with the BSE MidCap down 0.21% and the BSE SmallCap down 0.51%.
03 May 2024, 03:08 PM ISTSensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : 16 out of the 50 stocks on the Nifty 50 were in the green. Coal India, Grasim Industries, Dr Reddy's, ONGC, and Apollo Hospitals Enterprises, were the top gainers, while Larsen & Toubro, Maruti Suzuki India, Bharti Airtel, Nestle India and Reliance Industries, were the top drags.
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03 May 2024, 03:05 PM ISTSensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : Only six stocks, Bajaj Finserv, Bajaj Finance, Mahindra & Mahindra, Infosys, ICICI Bank, and Wipro, out of the 30 on the BSE Sensex were in the green, while Larsen & Toubro, Maruti Suzuki India, Bharti Airtel, JSW Steel, and Nestle India, were the top losers.
03 May 2024, 03:02 PM ISTSensex Today Live : 3 pm market update
Sensex Today Live : Indian benchmark indices extended their losses on Friday, having climbed down from their early gains.
At 3 pm, Sensex was down 794.51 points, or 1.06%, at 73,816.60, and Nifty was down 195.70 points, or 0.86%, at 22,452.50.
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03 May 2024, 02:54 PM ISTSensex Today Live : Adani Green's Q4 consolidated net profit drops 70% YoY to ₹150 crore; shares down
Sensex Today Live : Adani Green Energy reported a 70% YoY decline in consolidated net profit at ₹150 crore in Q4FY24, compared to ₹508 crore net profit reported in the year-ago quarter.
On a sequential basis, its profit was down 41% from ₹256 crore reported in Q3FY24.
03 May 2024, 02:40 PM ISTSensex Today Live : Go Fashion reports a 13% YoY drop in Q4 net profit; shares fall
Sensex Today Live : Go Fashion reported a 13% YoY decline in In Q4FY24 net profit, at ₹13 crore.
The company’s revenue saw a YoY increase of 16.7%, reaching ₹182 crore.
Its EBITDA rose by 13% YoY to ₹54.2 crore. However, margin was slightly lower at 30%, compared to 31% in the same period the previous year.
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03 May 2024, 02:31 PM ISTSensex Today Live : Firstsource Solutions posts 5% YoY drop in net profit at ₹133 crore; shares fall
Sensex Today Live : In Q4FY24, Firstsource Solutions reported a year-on-year (YoY) decrease of 5.5% in Profit After Tax (PAT), bringing it down to ₹133 crore.
The company's total income saw a YoY increase of 6%, amounting to ₹1,673 crore.
03 May 2024, 02:21 PM ISTSensex Today Live : Steel Exchange India posts ₹19.6 crore net profit in Q4, compared to a loss of ₹42.50 in the year ago period; shares climb
Sensex Today Live : Steel Exchange India posts net profit of ₹19.56 crore in Q4FY24, from a loss of ₹42.59 crores in Q4FY23. However, QoQ, the company's net profit dropped 6.6% from ₹20.94 crore in Q4FY24.
The company's revenue from operations came in at ₹312.15 crore Q4FY24, down 21.61% YoY from ₹398.22 crore in Q4FY23.
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03 May 2024, 02:01 PM ISTSensex Today Live : 2 pm market update
Sensex Today Live : Indian benchmark indices extended their losses on Friday, having climbed down from their early gains.
At 2 pm, Sensex was down 1,007.56 points, or 1.35%, at 73,603.55, and Nifty was down 257.45 points, or 1.14%, at 22,390.75.
03 May 2024, 01:54 PM ISTSensex Today Live : Amnish Aggarwal , Director – Research, Institutional Equities at Prabhudas Lilladher, recommends to 'ACCUMULATE' Dabur India citing returning rural demand for the company
Sensex Today Live : Dabur India Rating: ACCUMULATE | CMP: ₹525 | TP: ₹563
We believe harsh summer will provide tailwind to Juices/ drinks/ Glucon-D while normal monsoons will boost rural demand and tame inflation.
We believe sustained innovation, premiumisation and launches in core segments like healthcare, oral care & HPC will help sustain double-digit growth.
We increase our FY25/FY 26 EPS estimates by 1.4%/1.8% and estimate 12.8% EPS CAGR over FY24-26. Dabur is trading at 39.7x Mar26 EPS. We arrive at DCF based target price of Rs563 (Rs.535 earlier) which implies a PE of 42.5, in line with LTA. Retain Accumulate for moderate returns.
03 May 2024, 01:32 PM ISTSensex Today Live : Raymond posts 18% YoY jump in Q4FY24 net profit, recommends dividend of ₹10; shares down
Sensex Today Live : Raymond reported a consolidated net profit of ₹229.21 crore in Q4FY24, up 17.94% YoY from ₹194.35 crore in the corresponding period last year.
The company's revenue from operations stood at ₹2,608.50, up 21.32% YoY from ₹2,150.18 crore in the corresponding period last year.
03 May 2024, 01:19 PM ISTSensex Today Live : MRF posts Q4 consolidated net profit of ₹396 crore, up 16% YoY; declares dividend of ₹194; shares down more than 4%
Sensex Today Live : MRF reported a consolidated net profit of ₹396 crore, up 16% YoY from ₹341 crore reported in the year-ago period.
The company, which has been trolled on social media for declaring dividends of ₹3 in the last two quarters, announced a final dividend of ₹194 for FY24
03 May 2024, 01:15 PM ISTSensex Today Live : Godrej Properties net profit rises 14% YoY to ₹471 crore; revenue falls 13%
Sensex Today Live : Godrej Properties reported a 14% YoY rise in its Q4FY24 consolidated net profit at ₹471 crore, compared to ₹412 crore net profit reported in the corresponding period last year.
Revenue from operations fell 13% YoY to ₹1,426 crore in Q4, compared to ₹1,646 crore in the same period last year.
03 May 2024, 01:02 PM ISTSensex Crash Today Live : 1 pm market update
Sensex Crash Today Live : Indian benchmark indices extended their losses on Friday, having climbed down from their early gains.
At 1 pm, Sensex was down 943.1 points, or 1.26%, at 73,668.01, and Nifty was down 241.15 points, or 1.06%, at 22,407.05.
03 May 2024, 12:56 PM ISTSensex Today Live : Rane Brake Lining posts 28% YoY jump in Q4 net profit; recommends dividend of ₹30 per equity share
Sensex Today Live : Total Revenue was ₹186.7 crore for Q4FY24 compared to ₹165.8 crore in the Q4FY23, an increase of 12.6%
EBITDA stood at ₹28.6 crore for Q4FY24 compared to ₹21.0 crore during Q4FY23, an increase of 36.3%
EBITDA Margin at 15.3% for Q4FY24 against 12.7% in Q4 FY23
PAT stood at ₹15.4 crore for Q4FY24 compared to ₹12.0 crore in Q4FY23, an increase of 28.0%
03 May 2024, 12:40 PM ISTSensex Today Live : Akshar Chem reported a fire at its plant in Mahesana, Gujarat; shares down
Sensex Today Live : Akshar Chem reported a fire incident at its plant in Mahesana, Gujarat.
The company, in an exchange filing, said, "We hereby inform you that a fire broke out on 2nd May, 2024 at around 04:30 p.m. (IST) in the VS Plant of the Company located at Village: Indrad, Chhatral-Kadi Road, Mahesana-382715".
The company added that production operation at the plant was disrupted due to the incident. However, no human injuries or casualties was reported.
The company said it is in the process of ascertaining the cause of the fire and the actual loss caused by it, while adding that it has adequate insurance coverage and has informed the insurance company about the incident.
03 May 2024, 12:12 PM ISTSensex Today Live : Sector Indices Heat Map
Sensex Today Live : All the sectoral indices were trading in the red, with the PSU Bank, IT, and Realty indices losing the most. Auto, FMCG, and Consumer Durables were the other top losers.
03 May 2024, 12:10 PM ISTSensex Today Live : Broader market indices heat map
Sensex Today Live : The broader market was deep in the red, with the BSE SmallCap index down 0.75%, and the BSE MidCap index down 0.43%.
03 May 2024, 12:08 PM ISTSensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : 14 of the 50 stocks on the Nifty 50 were in the green. Coal India, Bajaj Finance, ONGC, Grasim Industries, and Bajaj Finserv, were the top gainers, while Reliance Industries, Larsen & Toubro, Nestle india, Bharti Airtel, and Maruti Suzuki India, were the top drags.
03 May 2024, 12:05 PM ISTSensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : Only four stocks, Bajaj Finance, Bajaj Finserv, Tata Steel, and ICICI Bank, out of the 30 stocks on the BSE Sensex were in the green, while Larsen & Toubro, Maruti Suzuki India, Bharti Airtel, Nestle India, and Reliance Industries, were the top drags.
03 May 2024, 12:02 PM ISTSensex Today Live : 12 pm market update
Sensex Today Live : Indian benchmark indices were trading in the red on Friday, having given up their early gains.
At 12 pm, Sensex was down 661.87 points, or 0.89%, at 73,949.24, and Nifty was down 170.30 points, or 0.75%, at 22,477.90.
03 May 2024, 11:57 AM ISTSensex Today Live : Shriram Properties acquires 4 Acre Land Parcel Near Electronic City, Bengaluru, with aggregate revenue potential of ₹250 crores
Sensex Today Live : Shriram Properties today announced the acquisition of a four acre land parcel in Chandapura, close to Electronic City in Bengaluru.
This investment is in line with SPL's vision of developing exceptional residential communities in promising micro markets. SPL plans to construct a landmark residential project on this land parcel, encompassing around 4 lakh square feet of aggregate saleable area, comprising approximately 350 meticulously designed apartments.
The project has a revenue potential of over ₹250 crores and is expected to be developed over the next 3 years.
The Company is targeting to launch the Project during the current financial year (FY25).
03 May 2024, 11:46 AM ISTSensex Today Live : Biden’s take on India’s economy is both bizarre and bothersome
Sensex Today Live : U.S. President Joe Biden has attributed the stagnation of economic progress in Japan, China, and India to "xenophobia". His remarks may raise eyebrows, particularly in India, due to his depiction of India's economic growth as "stalling", and grouping it with the notably slow-growth economies of China and Japan.
Biden's statement was made during a fundraising event for his 2024 re-election bid, suggesting it was intended for a domestic audience. However, it is unrealistic for any U.S. President to make such comments about other countries and anticipate them to go unnoticed internationally. (Read the full story here.)
03 May 2024, 11:26 AM ISTSensex Today Live : Bajaj Auto introduces the latest addition to its lineup, the Bajaj Pulsar NS400; shares gain
Sensex Today Live : This new model is powered by a 400cc engine, marking a significant upgrade in the Pulsar series.
The NS400 will be available in a choice of four dual-tone colours, namely Glossy Ebony Black, Metallic Pearl White, Cocktail Wine Red, and Pewter Grey.
The design of the front end is highlighted by a single-pod projector headlamp, which is complemented by lightning-shaped LED Daytime Running Lights (DRL) on either side.
03 May 2024, 11:03 AM ISTSensex Today Live : 11 am market update
Sensex Today Live : Indian benchmark indices were trading in the red on Friday, having given up their early gains.
At 11 am, Sensex was down 298.76 points, or 0.40%, at 74,312.35, and Nifty was down 53.45 points, or 0.24%, at 22,594.75.
03 May 2024, 10:54 AM ISTSensex Today Live : Shashijit Infraprojects defaults on ₹3.3 lakh principal and interest amount of business loan
Sensex Today Live : Shashijit Infraprojects informed the exchanges today that it has defaulted on principal and interest amount of around ₹3,31,742.
The company, in an exchange filing, said, "We are hereby submitting disclosures of defaults on payment of interest/repayment of principal amount on loans from banks /financial institutions as on 2nd May, 2024".
03 May 2024, 10:30 AM ISTSensex Today Live : Ugro Capital shares up nearly 3% after company posts 132% rise in Q4 net profit
Sensex Today Live : The non-banking finance company reported a net profit of ₹32.7 crore for the quarter ending in March FY24. This represents a substantial growth of 132.8% compared to the same period in the previous year. The company's total income for the quarter also saw a significant increase, rising by 52.1% to ₹330.4 crore compared to the same quarter in the previous fiscal year. In other developments, Ugro Capital has obtained board approval to acquire MyShubhLife, a fintech platform specializing in embedded finance, for a sum of ₹45 crore.
03 May 2024, 10:13 AM ISTSensex Today Live : Sector Indices Heat Map
Sensex Today Live : Barring IT, FMCG and Realty, which were down 0.36%, 0.06% and 0.09%, respectively, all other sectoral indices were trading in the green.
The Metal index had gained the most, followed by the Financial Services index.
03 May 2024, 10:10 AM ISTSensex Today Live : Broader market indices heat map
Sensex Today Live : The BSE SmallCap had gainers 0.03%, and the BSE MidCap was up 0.53%.
03 May 2024, 10:09 AM ISTSensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : 16 out of the 50 stocks on the Nifty 50 were in the red. Bharti Airtel, HDFC Life, Larsen & Toubro, Maruti Suzuki India, and Britannia Industries, were in the red, while Bajaj Finance, Bajaj Finserv, ONGC, Shriram Finance, and NTPC, were the top gainers.
03 May 2024, 10:04 AM ISTSensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : Five stocks, Bharti Airtel, Larsen & Toubro, Maruti Suzuki India, Tech Mahindra, and Nestle India, out of the 30 stocks on the Sensex were in the red, while Bajaj Finance, Bajaj Finserv, NTPC, Tata Steel, and JSW Steel, were the top gainers.
03 May 2024, 10:01 AM ISTSensex Today Live : 10 am market update
Sensex Today Live : Indian benchmark indices were up on Friday, led by a rally in global peers. Benchmark Nifty 50 had touched a fresh all-time high of 22,794 in early trades.
At 10 am, Sensex was up 352.87 points, or 0.47%, at 74,963.98, and Nifty was up 120.45 points, or 0.53%, at 22,768.65.
03 May 2024, 09:55 AM ISTSensex Today Live : South Indian Bank shares down nearly 2% after company posts 14% YoY dip in net profit
Sensex Today Live : The bank reported a 14% YoY dip in net profit at ₹287.5 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, it had posted a net profit of ₹333.9 crore. Net interest income (NII) rose 2.1%, coming at ₹875 crore against ₹857 crore in the corresponding quarter of FY23.
03 May 2024, 09:43 AM ISTSensex Today Live : Voltamp Transformers shares down more than 8% after posting a weak operating margin in Q4FY24
Sensex Today Live : : The oil-filled power and distribution transformer maker has recorded net profit of ₹93.5 crore for the March FY24 quarter, rising 22.1% over the corresponding period of the previous fiscal year despite a weak operating margin and higher other income and topline. Revenue from operations soared 14.6% YoY to ₹504.2 crore for the quarter.
03 May 2024, 09:39 AM ISTSensex Today Live : ICICI Bank shares climb as company appoints Gaurav Singhvi and Sarun Agarwal as co-heads of the Equity Capital Markets (ECM) division
Sensex Today Live : The bank has appointed Gaurav Singhvi and Sarun Agarwal as co-heads of the Equity Capital Markets (ECM) division of its investment banking unit. They replace Pratik Loonker, who has moved to Axis Capital Ltd. Singhvi has over six years of experience at ICICI Securities Ltd., while Agarwal has been with the firm for more than two years.
03 May 2024, 09:32 AM ISTSensex Today Live : Ajanta Pharma shares up 10% as company posts 66% jump in Q4 net profit
Sensex Today Live : The company reported a 66% increase in consolidated net profit of ₹202.72 crore for the January-March quarter of FY24, up from last year's ₹122.25 crore. The company's revenue came in at ₹1,054.08 crore, up 20% from ₹881.84 crore a year back. The company's EBITDA was at ₹278.4 crore, up 26.4% from ₹16.9 crore in the year-ago period. The Board also made a decision on buyback of up to 10,28,881 fully paid-up equity shares of face value of ₹2 each (representing 0.82% of the total number of equity shares of the company) at a price of ₹2,770, per share payable in cash for a total consideration not exceeding ₹285 crores.
03 May 2024, 09:25 AM ISTSensex Today Live : Coforge shares down nearly 9%, Cigniti down 3%, as Coforge set to acquire 54% stake in Cigniti
Sensex Today Live : The company reported a slightly lower-than-expected fourth-quarter revenue amid overall tepid tech spending from clients. Consolidated revenue rose 8.7% YoY to ₹2,359 crore in the three months ended March 31, falling short of analysts' estimate of ₹2,395 crore. Net profit rose 95% to ₹224 crore for the three-month period. Coforge's fresh order intake more than doubled to $774 million from $301 million a year earlier during the January-March period. The company also announced plans to acquire up to 54% stake in Cigniti Technologies. Aided by the acquisition of Cigniti Technologies, the company said it aims to grow its revenue to $2 billion by fiscal 2027.
03 May 2024, 09:23 AM ISTSensex Today Live : Ceat shares dive more than 4% after company posted a 23% decline in cons. Q4 net profit
Sensex Today Live : Tyre manufacturer Ceat reported a 23% decrease in its consolidated net profit to ₹102 crore for Q4FY24. The company's revenue from operations increased to ₹2,992 crore in Q4FY24, up from ₹2,875 crore in Q4FY23.
03 May 2024, 09:20 AM ISTSensex Today Live : Bajaj Finance shares jumps more than 6% as RBI removes restrictions on the company from sanctioning and disbursing fresh loans
Sensex Today Live : The Reserve Bank of India has removed the restrictions it had previously imposed on two of Bajaj Finance's products, eCOM and the online digital 'Insta EMI Card'. This decision, effective immediately, was announced by the company on May 2. As a result, Bajaj Finance will resume sanctioning and disbursing loans, including the issuance of EMI cards, in these two business segments.
03 May 2024, 09:18 AM ISTSensex Today Live : Opening Bell
Sensex Today Live : Indian benchmark indices climbed at open on Friday, led by a jump in global peers.
At opening bell, Sensex was up 387.28 points, or 0.52%, at 74,998.39 and Nifty was up 118.60 points, or 0.52%, at 22,766.80.
03 May 2024, 09:10 AM ISTSensex Today Live : Indian benchmark indices jump at pre-open
Sensex Today Live : Indian benchmark indices were jumped at pre-open on Friday, led by a jump in global peers.
Sensex was up 405 points, or 0.54%, at 75,016.11 and Nifty was up 118.15 points, or 0.52%, at 22,766.35 during pre-open.
03 May 2024, 08:48 AM ISTSensex Today Live : Stocks to watch today
03 May 2024, 08:44 AM ISTSensex Today Live : What to expect from Indian stock market in trade on May 3
Sensex Today Live : The Indian stock market indices, namely Sensex and Nifty 50, are anticipated to commence trading on a positive note on Friday, influenced by encouraging signals from global markets.
The Gift Nifty trends also suggest a promising start for the Indian benchmark index. The Gift Nifty was observed trading at around the 22,890 mark, which is nearly 115 points higher than the previous closing level of Nifty futures.
On Thursday, the Indian stock market indices concluded with slight gains, amidst a blend of global indicators following the US Federal Reserve's monetary policy outcome. The Nifty 50 chart depicted a small positive candle with a minor upper shadow.
Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, interpreted this chart pattern as an indication of range-bound activity in the market around the critical resistance level of 22,800. He noted that similar range movements have occurred at this hurdle in the past, which have typically led to a short-term downward correction in the market. (Read the full story here.)
03 May 2024, 08:40 AM ISTSensex Today Live : Six key things that changed for market overnight - Gift Nifty, Apple earnings to US jobless claims
Sensex Today Live : The domestic stock market is projected to commence on a high note on Friday, mirroring the positive performance of global counterparts. Asian markets experienced an uptick, and the US stock market concluded positively overnight, amidst a blend of corporate earnings results and economic data. Investors are keenly awaiting the crucial US non-farm payrolls data, which could provide further insights into the Federal Reserve's policy direction.
On Thursday, the Indian stock market indices recorded modest increases, influenced by mixed global indicators following the outcome of the US Federal Reserve's monetary policy. The Sensex rose by 128.33 points or 0.17%, closing at 74,611.11, while the Nifty 50 ended 43.35 points or 0.19% higher at 22,648.20.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, commented that the Indian markets concluded slightly higher in a lackluster trading session. This was due to weak global indicators and the anticipation of a further delay in rate cuts owing to inflation worries, which led investors to make selective bets. He added that the market had seen a significant surge in recent sessions, and the escalating valuations are starting to concern investors. (Read the full story here.)
03 May 2024, 08:27 AM ISTSensex Today Live : India markets likely to start on a strong note, led by rallying global peers
Sensex Today Live : Markets in India were headed for a positive start with global peers from the US to Asia rallying, led by a jump in tech stocks in the US as Apple unveiled a share buyback plan.
At 8:17 am, Gift Nifty futures was trading at 22,879, more than 230 points ahead of Nifty 50's Thursday close of 22,648.
Asian stocks rallied on Friday after Apple's record $110 billion share buyback plan lifted the tech sector, while the yen put more distance from recent 34-year lows to cap a tumultuous week that saw suspected interventions from Tokyo.
With markets in Japan and mainland China closed on Friday, regional trading activity is likely to be subdued as traders look ahead to the U.S. nonfarm payrolls data later in the day.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.5% and was set for a second straight week of gains. Hong Kong's Hang Seng Index spiked 2% higher, on course for a 5% gain for the week.
The yen strengthened 0.55% to 152.80 per dollar in early trading on Friday, having started the week by touching a 34-year low of 160.245 per dollar on Monday.
The dollar index, which measures the U.S. currency against six peers, was last at 105.25. The index is set to clock a 0.7% decline for the week, its worst weekly performance since early March.
The Federal Reserve this week left rates unchanged and signalled that its next policy move will be to lower its rates, though chair Jerome Powell noted that recent strong inflation readings have suggested that the first of these cuts could be a long time in coming.
While the bar for moving back to a tightening bias is quite high, it seems likely that the current 5.25%-5.50% Fed Funds target range will be unchanged for the next several months, Hill said.
U.S. stocks ended higher on Thursday, with tech heavy Nasdaq advancing 1.5% buoyed by chip stocks.
In after-market hours Apple reported quarterly results and forecast that beat modest expectations and unveiled a record share buyback program, sending its stock up almost 7% in extended trade.
U.S. economic data on Thursday also showed the labour market remains tight, ahead of key government payrolls data due later on Friday. Economists polled by Reuters forecast 243,000 jobs, with estimates ranging from 150,000 to 280,000.
In commodities, U.S. crude rose 0.39% to $79.26 per barrel and Brent was at $83.98, up 0.37% on the day. Spot gold was last $2,304.16 an ounce and were set for second straight weekly decline.