Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Thursday’s session flat. The NSE Nifty 50 fell 18.1 points or 0.10% to 18,297 and BSE Sensex dipped 35.68 points or 0.06% to 61,904.52. In sectoral indices, Bank Nifty rose 144.25 points or 0.33% to 43,475.3 and Nifty Pharma tanked 159.85 points or 1.26% to 12,557.05. The top gainers on Nifty 50 were Adani Enterprises, Asian Paints, Hindustan Unilever, Adani Ports and NTPC while the losers were Dr Reddy, Larsen & Toubro, Hindalco, Divis Lab and JSW Steel.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The top gainers on Nifty 50 were Adani Enterprises, Asian Paints, Hindustan Unilever, Adani Ports and NTPC while the losers were Dr Reddy, Larsen & Toubro, Hindalco, Divis Lab and JSW Steel.
In sectoral indices, Bank Nifty rose 144.25 points or 0.33% to 43,475.3 and Nifty Pharma tanked 159.85 points or 1.26% to 12,557.05.
The NSE Nifty 50 fell 18.1 points or 0.10% to 18,297 and BSE Sensex dipped 35.68 points or 0.06% to 61,904.52.
Dr Reddy’s Laboratories shares tanked 6.6% to Rs 4,545 today, pulling the Nifty Pharma down over 1% after the company posted a lower-than-expected EBITDA, net profit, and higher operating expenditure. Analysts attribute the weakness in net profit to the weak sales of gRevlimid medicine, a global blockbuster cancer drug. The company’s stock has fallen over 4% in the last one month while it has jumped over 7% year to date. In comparison, Nifty Pharma has jumped 3.4% in the last one month and is up nearly 1% YTD.
NSE Nifty 50 and BSE Sensex turned flat in the intraday trade. The NSE Nifty was trading at 18315 and BSE Sensex was at 61,958.08. The top gainers on Nifty 50 were Adani Enterprises, Adani Ports, Hindustan Unilever Ltd, NTPC and UltraTech Cement while the losers were Dr Reddy, Larsen & Toubro, Hindalco, JSW Steel and Bharti Airtel.
Nifty Pharma tanked 1.03% to 12,585.8. The top losers on the index were Dr Reddy, Aurobindo Pharma, Zydus Life, Alkem and Laurus Labs while the gainers were Sanofi, Glenmark, Ipca Labs, Pfizer and Abott India.
Angel One Limited (formerly known as Angel Broking Limited) achieved a substantial on-year growth of 46.6% in its client base, reaching 14.13 million as of April 2023. The company acquired 0.38 million new clients in the first month of the current financial year. Indicating its continuous remarkable performance in the fintech industry, Angel One’s overall average daily turnover reached Rs 21.98 trillion, marking a growth of 131.9% on-year.
Larsen & Toubro share price tanked 5% to Rs 2,244 today after the company’s Q4FY23 results missed analysts’ expectations. The net profit rose 10% to Rs 3,986.78 in Q4FY23 crore from Rs 3,620.69 crore in the same quarter last year. The board has recommended a final dividend of Rs 24 per share of the face value of Rs 2 each. L&T share price has fallen 2.5% in the past one month while the stock has jumped over 40% in the last one year.
The top gainers on Nifty 50 were Adani Enterprises, Adani Ports, HDFC Life and UPL while the losers were Dr Reddy, Larsen & Toubro, Hindalco, Bharti Airtel and Eicher Motors.
In sectoral indices, Bank Nifty climbed 85.35 points or 0.20% to 43,416.4 and Nifty Pharma fell 136.55 or 1.07% to 12,580.35.
Adani Enterprises share price jumped 3.72% to Rs 1962 after the Gautam Adani led group said that on Saturday the board will consider fundraising through various methods, said the company on Wednesday. The board will meet in Ahmedabad.
Godrej Consumer Products share price jumped 2.28% to Rs 984.5 after the company reported a 24.47% growth in its consolidated net profit to Rs 452.14 crore in the fourth quarter ended March 31, 2023, led by volume growth.
Procter & Gamble Hygiene and Health Care share price fell 0.8% to Rs 13605.4 after the comapny reported a dip in quarterly sales on Wednesday, as a pandemic-driven demand for healthcare products waned with new COVID cases dropping across the country.
Larsen & Toubro share price tanked 4% to Rs 2268.4 after the company posted its fiscal fourth-quarter profit at Rs 3,986.78 crore, up 10.1% from Rs 3,620.69 crore in the same quarter last year. It recorded revenue from operations at Rs 58,335.15 crore
Dr Reddy’s Laboratories share price tanked 4.29% to Rs 4659.05 despite the company reporting nearly an eleven-fold surge in fourth-quarter profit, driven by higher sales from its mainstay generic drugs business in North America. The Hyderabad-based company’s consolidated profit rose to Rs 9.59 billion in the three months ended March 31, compared with Rs 875 million on-year.
The NSE Nifty 50 jumped 23.35 points or 0.13% to 18,338.45 and BSE Sensex surged 112.12 points 0.18% to 62,052.32.
The National Stock Exchange has Canara Bank, Manappuram Finance, BHEL and GNFC securities on its F&O ban list for 11 May. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
Foreign institutional investors (FII) bought shares worth net Rs 1,833.13 crore, while domestic institutional investors (DII) sold shares worth net Rs 789.67 crore on May 10, according to the provisional data available on the NSE.
Oil prices rose in early Asian trade on Thursday after strong demand for fuels in the U.S. outweighed concerns about the possibility of the world’s biggest oil producer and consumer defaulting on its debt. Brent crude futures rose by 26 cents, or 0.34%, to $76.67 a barrel by 0015 GMT. U.S. crude futures rose 28 cents to $72.84.
“Benchmark indices may log gains in early trades after US inflation fell to 4.9% in April, the lowest since April 2021, which could lift the sentiment and raise expectations of a dovish stance by the Fed in its next meeting. While global mood would dictate trend, Indian markets have been resilient so far on the back of persisting FII buying and strong macroeconomic fundamentals. Technically, caution for Nifty bulls only below the 18181 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
The US market ended the overnight session mostly in green after US CPI inflation fell below 5% for the first time in two years – Dow Jones Industrial Average (DJIA) fell 0.09%, S&P 500 climbed 0.45% and the tech-heavy Nasdaq jumped 1.04%.
Asian markets were trading mixed – Hong Kong’s Hang Seng fell 0.07%, Japan’s Nikkei 225 plunged 0.2%, China’s Shanghai Composite rose 0.17% and South Korea’s KOSPI climbed 0.44% on Thursday.
The Nifty futures on the Singapore Exchange (SGX) were trading 30 points or 0.16% higher at 18,388 in today’s early morning trade.