Share Market HIGHLIGHTS: Sensex ends volatile day 179 pts higher, Nifty reclaims 18,300; Latent View plunges 10%

Written By: ZeeBiz WebTeam Updated on: May 10, 2023, 04.01 PM IST

Share Market Today LIVE: Indian equity benchmarks Nifty 50 and Sensex gave up initial gains in a volatile session on Wednesday, amid weakness across major markets globally ahead of a key US inflation reading due later in the day that could offer more clarity on the future course of interest rates in the worlds largest economy. Catch minute-by-minute updates on the Indian share market, LIVE market analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, and much more only on Zeebiz.coms blog.

Share Market Today LIVE: Indian equity benchmarks Nifty 50 and Sensex gave up initial gains in a volatile session on Wednesday. Globally, investors remained on the back foot, as reflected in major markets, ahead of a key US inflation reading due later in the day that could offer more clarity on the future course of interest rates in the world's largest economy. 

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The last leg of the corporate earnings season remained in focus in the Indian share market, with Dr Reddy's Labs, Godrej Consumer Products, Larsen & Toubro, Bosch and Gujarat Gas slated to report their numbers later in the day. 

Voting commenced for the Karnataka polls at 7 am — a state that may set the stage for the 2024 general elections. Historically, the state has never voted the incumbent party to power in almost four decades. The counting of votes will take place on May 13. Catch LIVE updates on Karnataka Assembly elections here

Catch minute-by-minute updates of all the action in the Indian share market on May 10, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:  

Latest Updates

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  • Share Market Today | Sensex ends volatile day 367 pts off day's low, Nifty 50 reclaims 18,300 

    Both headline indices finish the day 0.3 per cent higher. The Sensex ends with a gain of 178.9 points at 61,940.2, having recovered 367.3 points from its weakest level of the day. The Nifty 50 settles at 18,315.1, up 49.2 points from its previous close, after broadly moving in the 18,200-18,350 band during the session. 

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    Here's how the gauges moved through the day

    Nifty 50 

    Read more on the May 10 session

  • Mankind Pharma IPO Listing | Manforce condom maker off listing high, but remains well among India's top 100 most valuable firms

    Even as the newly-listed Mankind Pharma shares take a breather on Dalal Street, the pharma and healthcare products company remains well among the country's top 100 most valuable companies. Despite the correction, the stock of Mankind Pharma — whose popular products include Manforce condoms and Prega News pregnancy test kits — in fact keeps the company in the top 90 club. 

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    Read more on Mankind Pharma shares

     

  • Shemaroo Entertainment shares hit upper circuit

    Shemaroo Entertainment shares were locked in the upper circuit of 10 percent to Rs 129.70 per share during Wednesday’s trading session on the BSE post robust Q4 results.

    The media company has reported a total income of Rs. 164.7 crores during the March quarter of FY23, as compared to Rs. 150.4 crores in the December quarter of the previous fiscal.

  • IndusInd Bank shares jump 3%

    IndusInd Bank's share price jumped nearly 3 per cent to touch the day’s high level of Rs 1,174 per share on the BSE during Wednesday’s session after the global brokerage firm UBS Securities upgraded the private sector lender to 'buy' from 'neutral'.

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    The brokerage has also raised the target price on the stock to Rs 1,450 from Rs 1,250 apiece.

  • Zomato shares in focus as analyst says ONDC poses no immediate threat 

    Shares of Zomato – a food-delivering platform – hogging under the limelight amid the recent buzz regarding Open Network for Digital Commerce (ONDC). However, the analysts were of the view that the new digital platform poses no immediate threat at the current scale to food delivery aggregators.

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    Motilal Oswal believes that the risk posed by ONDC will only become significant once it scales up in multiple categories such as food, e-commerce, and grocery, which would give it the scale to override the delivery scale of the existing players. Read More

    Minutes before closing, Zomato shares were up around 1 per cent to Rs 61.44 per share on the BSE.

     

  • Tata Motors shares hit 52-week high ahead of Q4 results on Friday

    Ahead of Q4 earnings on Friday, May 12, 2023, Tata Motors' share price has touched a fresh 52-week high of Rs 513 per share, after surging around 2 per cent on the BSE during Wednesday’s session.

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    The stock gained on expectations of strong earnings for the January-March quarter of the last fiscal (Q4FY24), mainly due to better earnings from the overall auto segment.

  • In a special edition of SPL Midcap Stocks, Jay Thakkar, an analyst at Sharekhan in a chat with Zee Business Managing Editor Anil Singhvi said he was bullish on three companies:

    • Short Term- Sundaram Finance
    • Positional Term- Jubilant Pharma
    • Long Term- Bharat Wire

    Speaking with the market guru, Thakkar explained why he thinks investors should buy these stocks for good returns.

  • New Kid on the Block | Mankind Pharma is 86th largest company by market value

    Mankind Pharma — the manufacturer of Manforce condoms that made a stellar debut on the bourses on Tuesday — is the 86th largest company in India by market value. At this current market price of Rs 1,424.1, Mankind Pharma — whose popular products include Prega News pregnancy test kits — stands at Rs 57,045.8 crore, according to provisional exchange data.  

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    At the current level, Mankind Pharma exceeds the following companies in market value: 

     

    Company Market value (in crore rupees)
    Bosch 56,709
    Torrent Pharma 55,819
    PNB 55,374.4
    Canara Bank 54,931.9
    ICICI Lombard General Insurance Company 53,933.7
    Indian Hotels 53,151.4
    Zydus Lifesciences 53,110.4
    UPL 53,070.6
    Tube Investments of India 52,612
    PI Industries 52,483.1
    Zomato 52,281.6
    Hero MotoCorp 51,793.5
    Samvardhana Motherson International Ltd 51,445.6
    Trent 50,904
  • Share Market Today LIVE | SBI, PNB continue to weigh on Nifty Bank

    The Nifty Bank — whose constituents include the country's top lenders including SBI and HDFC Bank — is up 56.7 points or 0.1 per cent at 43,254.9, having recovered more than 400 pts from its lowest level of the day. 
     
    While HDFC Bank, IndusInd Bank and Axis Bank continue to support the banking index, stocks such as SBI, PNB and Bank of Baroda weigh on the gauge.
     

     

     
    Image: Niftyindices.com
  • Share Market Today LIVE | Nifty Bank recovers day's losses

    Here's how the various sectors look like at this hour: 

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  • E-sports an opportunity in India: Nazara Tech management to Zee Business  

    Nazara Tech Founder and CEO Nitish Mittersain tells Zee Business that the company has registered good growth across segments and sees room for expansion. 

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    E-sports is an opportunity in India, reflected in the company's fast-growing business, he says. 

     

  • Share Market Today LIVE | Nazara Tech shares struggle below flatline after weak Q4 results 

    Nazara Tech shares drop 3.7 per cent to Rs 567.3 apiece at the lowest level of the day on BSE. 

    On Tuesday, the gaming and sports media platform reported a 53.2 per cent fall in net profit to Rs 9.4 crore sequentially for the quarter ended March 2023. Its revenue shrank 8.1 per cent to Rs 289.3 crore though margin remained steady at 9.4 per cent. 

  • Share Market Today LIVE | Fear index VIX jumps as market makes a U-turn 

    NSE's India VIX index — also known as the volatility or fear index — is up 2.6 per cent at 13, having jumped as much as 4.8 per cent earlier in the day. 

  • Share Market Today LIVE | Latent View shares plunge after weak Q4 results

    Latent View Tech shares slump as much as 9.6 per cent to Rs 337.1 apiece on BSE, a day after the company — whose stock hit the Street in November 2021 — reported a weak set of Q4 results. 

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    Latent View;s net profit fell 35 per cent to Rs 34 crore for the quarter ended March 2023 and revenue contacted 2.8 per cent to Rs 141 crore. 

    The data analytics company's margin shrank by 790 basis points to 21.3 per cent. 

  • Share Market Tips LIVE | Buy Avantel shares, says Sandeep Jain 

    Sandeep Jain of Tradeswift Broking recommends buying Avantel shares with a perspective of 4-6 months for a target price of Rs 530.

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    Avantel shares have rewarded investors with a return of 58 per cent in the past one year, sharply outperforming a 12 per cent rise in the headline Nifty index. 

    Image: BSE

  • Nifty LIVE | Hindustan Unilever, Reliance, ONGC, PowerGrid help headline index avoid deeper cuts

    Here's a look at the heatmap in the 50-scrip universe (by weight): 

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    Image: Niftyindices.com

  • Sensex LIVE | SBI, HDFC twins, ICICI Bank, Infosys pose maximum pressure on index 

    Here's a glance at the top movers in the 30-scrip gauge:

    Stock CMP Contribution
    SBIN 565 -27.8
    HDFCBANK 1,637.3 -23
    ICICIBANK 931.6 -17.8
    HDFC 2,737.6 -17.2
    INFY 1,265.4 -16.7
    AXISBANK 884.3 -9.9
    KOTAKBANK 1,946.9 -8.3
    BHARTIARTL 790.7 -7.1
    LT 2,369.5 -4.6
    M&M 1,239.8 -4.6
    TATAMOTORS 507.1 5.5
    POWERGRID 245.9 7.8
    INDUSINDBK 1,156.8 9.4
    HINDUNILVR 2,534.5 14
    RELIANCE 2,486.2 21.4
  • Share Market Today LIVE | Sensex falls 393 pts from day's high, Nifty slips below 18,250 as financial, IT shares weigh on Dalal Street

    The Sensex sheds 392.6 points from the highest level of the day (61,965.6) to hit 61,572.9 on the downside. The Nifty 50 descends to as low as 18,212, having reversed direction after climbing up to as high as 18,323.2 earlier in the day. 

  • Godrej Consumer Products Q4 Results Today: Net profit likely to have grown 15% to Rs 418 crore on solid volume expansion

    Godrej Consumer Products — whose popular brands include Cinthol, HIT, Good Knight and Ezee — is all set to report its financial results for the quarter ended March 2023 today. Analysts expect strong volume growth, easing input costs and improving market share to drive the profitability for the Mumbai-based FMCG major. 

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    According to Zee Business research, Godrej Consumer Products (GODREJCP) is likely to report a quarterly net profit of Rs 418 crore, which translates to growth of 15 per cent compared with the corresponding period a year ago. They estimate the company's revenue growth at 10 per cent to Rs 3,221 crore. 

    Godrej Consumer's margin —  a key measure of a business's profitability — is likely to have improved by 200 basis points to 19 per cent, according to the research.

    Read more on what to expect in Godrej Consumer Q4 results

  • Eicher Motors to report Q4 results on Thursday; here's what to expect  

    According to Zee Business research, Eicher Motors is likely to report a net profit of Rs 800 crore for the quarter ended March 2023, which translates to a jump of 31 per cent compared with the corresponding period a year ago. 

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    Revenue of Eicher Motors, the parent company of Royal Enfield, is estimated at Rs 3,700 crore, marking growth of 13.5 per cent on a year-on-year basis. 

    The analysts peg the company's margin at 24.3 per cent for the January-March period, as against 23.7 per cent for the year-ago period.

  • Should you buy, sell or hold Lupin, Godrej Consumer Products, Zomato, Apollo Tyres shares today?

    Which stocks to buy, hold or sell today? Here's a look at what brokerages make of some of the key stocks in focus.

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    CLSA has maintained a 'buy' on MGL and raised its target price for the stock by Rs 70 to Rs 1,330.  

    Brokerage Rating Target price
    CLSA Buy Raised to Rs 1,330 from Rs 1,260
    JPMorgan Overweight Rs 1,240
    Jefferies Hold Rs 1,100
    Nomura Buy Rs 1,295

    Check out the full list of brokerage calls

  • Share Market Today LIVE | Profit booking in Mankind Pharma? Selling pressure in newly-listed stock of Manforce condom maker

    Mankind Pharma shares decline by as much as Rs 59.6 or 4.2 per cent to Rs 1,364.5 apiece on BSE, a day after the stock raced past the Rs 1,400 mark following a stellar debut in the secondary market. 

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    Image: BSE  

  • Share Market Today LIVE | Sensex up 82 pts at 61,843 in pre-opening session

    The Sensex finishes with a gain of 82 points or 0.1 per cent at 61,843.4 in the pre-open market. 

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  • INR vs USD Today | Rupee opens marginally lower at 82.06 vs US dollar

    The rupee begins the day at 82.06 against the greenback, down by two paise compared with its previous close.  

  • Q4 Results Today | Dr Reddy's, Godrej Consumer, L&T, Bosch, Gujarat Gas in the spotlight

    A number of corporates are scheduled to report their Q4 earnings today, as the India Inc results season enters its last leg.

    Here's the full list: 

    • 7SEASL
    • ABHIJIT
    • ACIIN
    • ADMANUM
    • AGOL
    • ALFATRAN
    • ATVPR
    • B2BSOFT
    • BASF
    • BMW
    • BOSCHLTD
    • CERA
    • CHMBBRW
    • CLEDUCATE
    • DRREDDY
    • ELANGO
    • ESCORTS
    • EXCEL
    • GARGI
    • GODREJCP
    • GOKULAGRO
    • GUJARATPOLY
    • GUJGAS
    • HARDCAS
    • HGINFRA
    • INSPIRISYS
    • JAYBARMARU
    • JBMA
    • KABRAEXTRU
    • LT
    • MASFIN
    • MEDIAONE
    • MHLXMIRU
    • MPFSL
    • MYSTICELE
    • NGIL
    • NOVARTIND
    • ORCHIDPHAR
    • PARSHVA
    • PGHH
    • PRADPME
    • PRICOLLTD
    • PRSMJOHNSN
    • RAMAPETRO
    • RATNAMANI
    • RELAXO
    • REPRO
    • RNBDENIMS
    • SAGCEM
    • SANOFI
    • SAVFI
    • SHARPLINE
    • SILINV
    • SIMPLXMIL
    • SIMPLXPAP
    • SPYL
    • SRGHFL
    • TAINWALCHM
    • TCFCFINQ
    • UNJHAFOR
    • UVDRHOR
    • VENKYS
    • VIVIDHA
    • WELINV
  • Sensex, Nifty 50 finished choppy session flat on Tuesday 

    Both the headline indices finished flat on Tuesday, having given up all of their intraday gains in a choppy session. The Sensex was down 2.9 points at 61,761.3 at the close, and the Nifty at 18,266, up 1.6 points for the day.

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    Here's how the main indices moved through the day:

    Nifty 50 

     Catch highlights of the May 9 session

  • Share Market Today LIVE | SGX Nifty futures indicate a mildly positive start ahead on Dalal Street  

    Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — are up 28.5 points or 0.2 per cent at 18,339.5, having gained as much as 40.5 points to 18,351.5 earlier in the day. 
  • Good morning! Welcome to Zeebiz.com's blog on the stock market today

    Follow this space to catch minute-by-minute market action, the views of Zee Business Managing Editor Anil Singhvi and other experts, investment ideas, stock picks, brokerage calls and much more through the day. 

    Happy trading, and happy investing!

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