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Share Market highlights: Sensex ends above 49,200, Nifty closes at 14,823; HDFC, M&M top gainers – The Financial Express

Share Market Today, Share Market LiveThe volatility index fell 5% on Friday.
(image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices highlights: Dalal Street continued to march higher on Friday. S&P BSE Sensex rose above 49,200 on closing, while the 50-stock NSE Nifty ended at 14,823. Bajaj Finserv, Mahindra & Mahindra, HDFC, and NTPC were among the top gainers on Sensex, while Bajaj Auto, Bajaj Finance, and Infosys were the top drags. Midcap indices closed in the red while smallcaps gained. India VIX fell 5% to close below 21 levels. All sectoral indices on NSE ended in the green, except Nifty PSU Bank index.

Equity markets continued their upward march on Friday and closed the week’s last trading session with gains. S&P BSE Sensex ended just above 49,200 while the Nifty 50 index closed at 14,823. Bajaj Finserv, Mahindra & Mahindra, HDFC, and NTPC were among the top gainers on Sensex, while Bajaj Auto, Bajaj Finance, and Infosys were the top drags. Midcap indices closed in the red while small-caps gained. Among sectoral indices on NSE, the Nifty Metal index surged 4.7%, Bank Nifty ended 0.23% higher. Nifty PSU Bank index closed with losses.

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Sensex breached 49,200 on closing while the Nifty 50 index managed to close above 14,800. 

Nifty is sitting just above 14,800 with the closing bell inching closer. Sensex is just shy of 49,200 mark.

Tata Steel share price surged 8 per cent to a new 52-week high at Rs 1,188.65 apiece intraday on BSE after the company recorded its best-ever performance during the January-March quarter of FY21. The company on Wednesday reported a 250 per cent on-year rise in consolidated EBITDA to Rs 142 bn (its highest ever) on the back of higher steel prices. Tata Steel stock price surpassed its high of Rs 1,128.80 apiece, touched in the previous session.

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Nifty PSU Bank index continues to move downwards along with the Nifty Pharma index while all other sectoral indices were trading with gains. 

India’s largest mortgage lender, Housing Development Finance Corporation (HDFC) today announced a dividend of Rs 23 per share. The record date for the same has been decided as June 1, 2021. Shares of HDFC were trading 2.8% higher at Rs 2,498 apiece on Friday.

“We prefer to look beyond this short-term bump and maintain a balanced portfolio strategy based on our SCDV (Secular, Cyclical, Defensive and avoiding Value traps) framework. This allows us to play the long-term secular themes while also capitalising on the impending cyclical uptick, which may last for a few years,” said Mayur Patel, Principal, Fund Manager – Listed Equities at IIFL AMC.

India VIX, the volatility gauge, slipped further on Friday. The index was down 5%, falling below the 21 level. 

After six months of consecutive inflows, foreign institutional investors (FII) turned net sellers of domestic stocks in April. FIIs pulled out $1.29 billion worth of domestic securities in April, the highest since March 2020, according to domestic brokerage and research firm Edelweiss Securities. The outflows came about as India began witnessing a massive outbreak of the coronavirus once again, while the world was easing restrictions and expanding vaccination coverage. Prior to the last month’s outflow, FPIs pumped in $26.8 billion in equities between October 2020 and March 2021. 

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13 years after being invented by Satoshi Nakamoto, Bitcoin(BTC) is bigger than ever in 2021. The combined market cap of cryptocurrencies has been on a tear as institutional investors like Morgan Stanley, Grayscale, MasterCard dabble in crypto as a way to boost returns on cash in a world of near-zero interest rates. Countries like the US, UK, Canada, Singapore, Switzerland have already mass adopted the idea of the nascent industry and its benefits, creating better regulation and functions for crypto both as an asset and utility.

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While the benchmark indices were sitting in the green, midcap indices on NSE and BSE were down in the red. Nifty Midcap 50 was down 0.46% and the BSE Midcap index was down 0.09%.

Nifty was just below 14,800 on Friday, as the benchmark indices trimmed some gains. Sensex was still above 49,000.

Warren Buffett’s Berkshire Hathaway Inc share price has risen to over $4,21,000 per Class A share. But, the stock’s impressive 41-year run may soon come to a screeching halt, if the US stock exchange Nasdaq doesn’t upgrade its computer systems soon, The Wall Street Journal reported. The reason being: Berkshire Hathaway’s share price is very close to the highest number that Nasdaq’s computers can handle. Nasdaq and a few other market operators use 32-bit systems to store data in binary numbers, which comprises ones and zeroes. Therefore, the biggest possible number is two to the 32nd power minus one, which is 4,294,967,295. Stock prices are usually displayed up to four decimal places, so the highest possible price is $429,496.7295, the WSJ report said.

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Nirma group cement company Nuvoco Vistas Corporation Ltd has filed draft red herring prospectus with capital markets regulator SEBI to launch an IPO worth Rs 5,000 crore. The issue will comprise a fresh issue of shares of up to Rs 1,500 crore and an offer-for-sale (OFS) of up to Rs 3,500 crore by its promoter selling shareholder Niyogi Enterprise Private Ltd which holds 86.56 per cent stake in the company. Nine years ago Nirma shares were delisted from exchanges.

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Nifty IT index and the Auto index were trading with marginal losses on Friday while all other sectoral indices on NSE traded with gains. 

‘The disruption due to lockdowns would negatively affect most sectors. However, we believe even this disruption to be transitory. The impact should be relatively benign on consumer staples, healthcare, IT services, and other export-oriented sectors Equity markets in the US and UK have shown significant resilience while reacting to the lockdowns related to their own second and third waves. Similarly, we are hopeful that volatility in the Indian market will also subside as the situation stabilises over the next few months. Market behaviour in the first wave has reinforced our view that short-term disruptions in businesses have very little impact on their long-term DCF valuations,’ said Mayur Patel, Principal, Fund Manager – Listed Equities at IIFL AMC.

The initial public offerings (IPO) of agrochemical manufacturer, India Pesticides and that of healthcare group, Krishna Institute Of Medical Sciences (KIMS) could soon hit Dalal Street. Both India Pesticides and KIMS received the green signal from capital market regulator Securities and Exchange Board of India’s (SEBI) for their public issues in April, after having filed their draft papers in February. So far this year, a total of 16 companies have successfully completed their initial share sales and made their stock market debuts. The IPO pipeline remains robust with even the likes of Zomato initiating the process for their share sale.

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Coforge reported continued growth-led momentum, with consolidated revenue growing by 7.1% in dollar terms to $172.1 million during in the fourth quarter. In constant currency terms, revenue grew 5.1% over the preceding quarter. In rupee terms, revenue was up by 6.0% sequentially and up by 13.7% year-on-year to Rs 12,615 million during the January March period. Fresh business of US$ 201 million was secured during the quarter under review, resulting in the order book executable over the next twelve months expanding to US$ 520 million.

“The crossing of 14700 yesterday was a bullish sign and the markets are keeping above that level today. If we can sustain this momentum, the Nifty can scale up to 15200 levels. 14400 continues to remain a good support and if we can respect that, the overall market trend remains bullish. If we break that on a closing basis, we can slip to 14000-14100,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

“There is a view among many market experts that the present resilience of the market (down only around 5% from February highs) is irrational when viewed from the perspective of the health crisis & pain that the nation & the economy is going through. While there is logic in this view, it is important to appreciate the fact that we are part of the global bull market and the resilience of the Indian market mainly arises from the ‘hope trade’ being fuelled by the expectation that the second wave will peak in May and the economy will quickly rebound. Moreover, Q4 results have been broadly above expectations. The market may continue to be resilient. But investors have to be cautious since uncertainty is high and the second wave may impact the economy & earnings worse than presently expected. It makes sense to partially book profits and move some money to the safety of fixed income,”  said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Sensex zoomed past 49,200 mark on the opening bell, while the 50-stock NSE Nifty breached 14,800. Banking and finance stocks were among the top index gainers. 

After Sensex moved past 49,000, the 50-stock NSE Nifty too surged higher in the pre-open session to breach 14,800 levels. 

Sensex breaches 49,000 during the pre-open session on Friday. Nifty 50 was closing in on 14,800 mark.

Nifty futures on Singaporean Exchange were trading 40 points or 0.25 per cent higher at 14,837.50, suggesting a positive opening for BSE Sensex and Nifty 50 on Friday. In the previous session, 30-share Sensex ended at 48,949 while the Nifty 50 index settled at 14,725. Global peers were trading in green in early trade on Friday. India reported a record 4.14 lakh new infections and 3,920 deaths on Thursday, according to Worldometer.

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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel continue to march higher, now increasing for the fourth day in a row. Petrol in Delhi today costs Rs 91.27 per litre, up 28 paise since yesterday. Diesel in Delhi costs Rs 81.73 litre, an increase of 31 paise. Prices were first changed on Tuesday after an 18 hiatus. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.

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As many as 25 BSE-listed companies including Housing Development Finance Corporation, Dabur India, Kansai Nerolac Paints, Cholamandalam Investment, Navin Fluorine, EIH and Godrej Agrovet, will announce their January-March quarter earnings on May 7.

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The International Monetary Fund said on Thursday the recent jump in COVID-19 cases in India posed downside risks to the Fund’s April forecast for 12.5% growth in India’s economic output in fiscal years 2021 and 2022. The IMF will revisit that forecast when it issued a fresh World Economic Outlook in July, IMF spokesman Gerry Rice told reporters at a regular briefing, but gave no further details.

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Credit Suisse has sharply lowered its real GDP growth forecast for this fiscal year to around 8.5-9 per cent, citing economic disruptions in the country due to the raging second wave that is likely to shave 100-150 bps growth off the economy.

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