Closing Bell: Sensex, Nifty end flat; Kotak Mahindra Bank, TCS soar, Titan, SBI slump
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May 06, 2024 / 03:50 pm IST Sensex gains 250 points, Nifty near 22,500; Sharp fall in PSU Bank stocks Moneycontrol.com May 06, 2024 / 03:50 PM IST
Today, the benchmark indices witnessed lackluster activity-the Nifty ends 33 points lower while the Sensex was up by 17 points. Among Sectors, PSU Bank index lost the most, shed 3.7 percent whereas Reality index outperformed gained over 2.5 percent. Technically, after a gap up opening the benchmark indices witnessed profit booking at higher levels. On daily charts, the index has formed bearish candle and on intraday charts, it is holding lower top formation, which is largely negative. We are of the view that the short-term market texture is still in to the weak side and for the traders now, 22600/74400 would act as a trend decider level. As long as market is trading below the same, the chances of hitting 22300-22250/73500-73350 would turn bright. On the flip side, above 22600/74400 the sentiment could change. Above 22600/74400, the market could bounce back till 22700-22735/74700-74800. May 06, 2024 / 03:49 PM IST
Markets ended mixed as selective buying in banking, IT, realty and auto stocks helped Sensex end marginally higher but erased majority of its gains owing to steep fall in oil & gas, power, consumer durable and capital goods stocks. Investors are most likely to trade with caution with select longish bets amid growing uncertainty over the delay in rate cuts and persisting higher inflation. May 06, 2024 / 03:48 PM IST
The domestic indices traded in a range-bound manner influenced by PSU banks' underperformance due to the RBI's tighter norms on lending to projects under development. The broader indices also witnessed major selling pressure due to valuation concerns and profit booking. Globally, weaker US payroll data has increased expectations of potential FED rate cuts. Investors are closely monitoring this week's FED speakers for insights on future monetary policy. May 06, 2024 / 03:43 PM IST
The Sensex was up 17.39 points or 0.02 percent at 73,895.54, and the Nifty was down 33.15 points or 0.15 percent at 22,442.70. About 1294 shares advanced, 2627 shares declined, and 172 shares unchanged. Among sectoral indices, the Nifty Realty index jumped 2.76 percent. Among losers, Nifty PSU Bank index dropped 3.66 percent, Consumer durables, oil & gas lost 2.55 percent and 1.75 percent respectively. May 06, 2024 / 03:29 PM IST
The initial public offering (IPO) of Indegene commenced for subscription on May 6 and was subscribed 112 percent at 15.30pm. Stock exchange data showed that investors bid for 3.24 crore equity shares against the total issue size of 2.288 crore shares. Non-institutional investors were at the forefront, buying 218 percent of the reserved portion. The retail investorsportion followed next after it was bought 120 percent while employees purchased 100 percent of the portion set aside for them. Meanwhile, QIBs or qualified institutional buyers subscribed just 0.01 times. May 06, 2024 / 03:18 PM IST
1# Revenue Rs2280 crore, up 1.8% y/y 2# Total costs Rs1890 crore, down 1% y/y 3#Raw material costs Rs938 crore, down 12% y/y 4#Other income Rs15 crore, down 78% y/y May 06, 2024 / 03:14 PM IST
1# M&M April overall disbursement Rs 3930 crore, up 4% 2# Stage 3 and Stage 2 assets rangebound MoM May 06, 2024 / 03:10 PM IST
May 06, 2024 / 03:05 PM IST
May 06, 2024 / 02:59 PM IST
Shares of Anup Eng gained 12 percent after strong earnings in Q4. Net profit for Q4 surged 47 percent to Rs 28.6 crore while revenue rose year on year to Rs 157 crore aided by a strong order backlog which was also up 62 percent. May 06, 2024 / 02:50 PM IST
Shares of Zen Technologies fell 5 percent to hit the lower circuit on May 6 even after the company reported strong numbers for the quarter ended March 2024. Its consolidated net profit jumped 72.97 on-year to Rs 34.94 crore and net sales rose 47.47 percent YoY to Rs 141.39 crore in the quarter under review.With an order book exceeding Rs 1,400 crores as of March 31, the anti-drone technology and defence training solutions provider expects to see sustained growth in FY25, aiming to surpass the Rs 900 crore sales mark. May 06, 2024 / 02:45 PM IST
MRF fell around three percent in trade, following the tyre-maker's earnings show for the fourth fiscal quarter of FY24. MRFreported a 7.6 percent decline in net profit to Rs 379.6 crore during the quarter, down from Rs410.7 crore in the year-ago period. The revenue from operations saw an 8.7 percent on-year growth toRs 6,349.36 crore. May 06, 2024 / 02:39 PM IST
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Sensex Today | Shrikant Chouhan, Head Equity Research, Kotak Securities
Sensex Today | Prashanth Tapse, Senior VP (Research), Mehta Equities
Sensex Today | Vinod Nair, Head of Research, Geojit Financial Services
Market at close | Sensex, Nifty end flat; Kotak Mahindra Bank, TCS soar, Titan, SBI slump
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