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

Share Market News Today | Sensex, Nifty, Share Prices highlights: Benchmark indices managed to hold above support levels of Friday and closed with gains. All sectoral indices, except Nifty PSU Bank, closed with gains.

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The 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.

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16:33 (IST)07 May 2021
Dalal Street ends with gains for third day straight; is Nifty headed towards 15,000 now?

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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15:33 (IST)07 May 2021

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

15:28 (IST)07 May 2021
Nifty just above 14,800 ahead of closing

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

15:18 (IST)07 May 2021
Tata Steel share price hits new 52-week high yet again post Q4 results; stock surges 85% so far in 2021

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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15:00 (IST)07 May 2021
Nifty Pharma, Nifty PSU Bank down in red

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

14:53 (IST)07 May 2021
Dividend bonanza for HDFC shareholders

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.

14:30 (IST)07 May 2021
Maintain a balanced portfolio strategy

“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.

14:26 (IST)07 May 2021
Volatility slips

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

14:08 (IST)07 May 2021
Foreign investors turn net sellers after 6 months of inflows; trim stake in these sectors in April

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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13:59 (IST)07 May 2021
India must democratise cryptocurrency; deals face FEMA compliance, investor identity, and other legal hurdles

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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13:20 (IST)07 May 2021
Mindcaps underperform

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%.

13:02 (IST)07 May 2021
Nifty slips below 14,800

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

13:00 (IST)07 May 2021
Tech-heavy NASDAQ index has a technical problem with Warren Buffett’s Berkshire Hathaway shares

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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12:21 (IST)07 May 2021
Nirma Group cement company Nuvoco Vistas files IPO papers with SEBI; plans to launch Rs 5,000 cr public issue

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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12:01 (IST)07 May 2021
Nifty IT, Nifty auto down in red

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

11:33 (IST)07 May 2021
Covid disruptions to be transitory

‘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.

11:12 (IST)07 May 2021
IPO watch: India Pesticides, KIMS get SEBI nod to launch Initial Public Offerings

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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10:54 (IST)07 May 2021
Coforge secures 2 significant deals in Q4

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.

10:01 (IST)07 May 2021
Nifty may be headed towards 15,200

“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.

09:23 (IST)07 May 2021
Book partial profits now

“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.

09:18 (IST)07 May 2021

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. 

09:08 (IST)07 May 2021
Nifty crosses 14,800

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

09:02 (IST)07 May 2021
Sensex, Nifty gain

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

08:50 (IST)07 May 2021
SGX Nifty points to gap-up start for Sensex, Nifty; key things to know before market opens

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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08:46 (IST)07 May 2021
Petrol and diesel price today 7 May 2021: Price hiked for 4th day running; check rates in Mumbai, Delhi here

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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08:23 (IST)07 May 2021
HDFC, UltraTech Cement, Dabur, NTPC, Bharat Forge, Hero MotoCorp, Adani Power stocks in focus

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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08:09 (IST)07 May 2021
IMF to revisit growth forecast for India due to surge in COVID-19

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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08:09 (IST)07 May 2021
Credit Suisse cuts India’s FY22 GDP growth forecast to 8.5-9%

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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First published on: 07-05-2021 at 08:06 IST