Share Market HIGHLIGHTS: Nifty, Sensex give up days gains amid choppy trade as ITC, SBI, Bajaj Finance weigh on market
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex gave up initial gains amid choppy trade on Tuesday, as caution persists in global markets ahead of a key US inflation reading due the next day. 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 HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex gave up initial gains amid choppy trade on Tuesday, tracking cautious moves across major global markets ahead of a key US inflation reading due the next day that could offer clarity on the future course of benchmark interest rates in the world's largest economy and the rest of the globe. Investors back home await the last leg of Q4 results announcements for domestic cues, a day after Pidilite, Mahanagar Gas (MGL) and Kansai Nerolac reported their quarterly numbers.
Lupin is among the companies slated to report their Q4 earnings later in the day.
Here are a few headlines that are in focus on Dalal Street on May 9:
- Mankind Pharma shares touch Rs 1,400 mark after blockbuster market debut
- Lupin, Apollo Tyres to report Q4 results today
- Pidilite shares drop after Fevicol maker's weaker-than-expected Q4 results
- MGL shares soar after strong Q4 show
- Kansai Nerolac shares surge after nearly 4x jump in Q4 profit
- Oracle Financial Services Solutions (OFSS) goes ex-dividend
- JSW Steel board to consider fund-raising on May 19
Catch minute-by-minute updates of all the action in the Indian share market on May 9, 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:
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Mankind Pharma shares finish listing day at 32% premium over issue price
Mankind Pharma shares end at Rs 1,430 apiece on NSE — their strongest level of the day, marking a premium of Rs 350 or 32.4 per cent over the upper end of the IPO price range. On BSE, the drug maker's stock finish at Rs 1,424.1 apiece — a premium of Rs 344.1 or 31.9 per cent.
Here's how the stock moved through the day on BSE:
Share Market Today | Divi's IndusInd top gainers; UPL, ITC top laggards
The Nifty basket ends the day with an equal number of gainers and losers. Here are 10 stocks from the 50-scrip blue-chip pack that moved the most:
Top Nifty 50 gainers
Stock CMP Change (%) DIVISLAB 3,388.0 3.1 INDUSINDBK 1,141.7 1.4 COALINDIA 236.0 1.3 TCS 3,292.0 1.3 AXISBANK 888.0 1.1 Top Nifty 50 losers
Stock CMP Change (%) UPL 693.8 -3.0 ITC 424.1 -1.7 SBIN 573.7 -1.7 BAJFINANCE 6,558.2 -1.5 JSWSTEEL 724.9 -1.1 Share Market Today | Sensex, Nifty 50 finish choppy session as flat as they can
Both the headline indices end flat, having given up all of their intraday gains in a choppy session. The Sensex is down 2.9 points at 61,761.3 at the close, and the Nifty at 18,266, up 1.6 points for the day.
Here's how the main indices moved through the day:
Nifty 50
Sensex
Share Market Today LIVE | Market breadth remains skewed in favour of bears
Overall market breadth on BSE remains largely neutral with a negative bias, with 1,605 stocks holding on to the green and 1,879 struggling below the flatline.
Nifty LIVE | ITC, SBI, Bajaj Finance, ICICI Bank, UPL pose maximum pressure on headline index
Buying interest in heavyweights such as HDFC, Infosys and Axis Bank saved the index from deeper cuts.
Image: Niftyindices.com
Share Market Tips LIVE | Buy Tracxn shares, says Vikas Sethi
In conversation with Zee Business Managing Editor Anil Singhvi, Vikas Sethi of Sethi Finmart recommends going long on Tracxn Technologies (TRACXN) for a target of Rs 80 with a stop loss at Rs 65.
Share Market Tips LIVE | Buy Orient Paper stock, Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Orient Paper (ORIENTPPR) shares for a short-term target of Rs 52 with a stop loss at Rs 39. Over a longer run, he expects the stock to double in value.
He is also bullish on Seshasayee Paper and JK Paper from the paper space.
Share Market Tips LIVE | Buy Tata Communications shares, say analysts
Sandeep Wagle of Sandeep Wagle Advisory Services and Himanshu Gupta of Globe Capital Markets like Tata Communications shares.
- Wagle recommends buying for targets to the tune of Rs 1,315 and Rs 1,320 with a stop loss at Rs 1,269; he believes the targets will be hit by Wednesday itself
- Gupta has set targets as high as Rs 1,350 and Rs 1,380 for Tata Communications
Q4 Results Today | Lupin, Latent View, Nazara Tech, Apollo Tyres, Indraprastha Gas, Shipping Corp, SRF, Matrimony, Chalet Hotels, Suven Life to report numbers
Here are some of the other corporates slated to report their Q4 earnings today:
- ABANSENT
- AGRITECH
- AKI
- ALPSINDUS
- BALUFORGE
- BIRLACORPN
- CAPPIPES
- CASTROLIND
- DELPHIFX
- DUTRON
- EIKO
- ELANTAS
- EVEREADY
- FIVESTAR
- GANESHHOUC
- HATSUN
- IFL
- JMFINANCIL
- JPPOWER
- KAYCEEI
- KLBRENG-B
- KSB
- MAGADHSUGAR
- MANINFRA
- MANORAMA
- MRO-TEK
- NETLINK
- NUVOCO
- OSEASPR
- PASUPTAC
- POLYMED
- RAIN
- RAYMOND
- RELINFRA
- SAGARSYST
- SCI
- SHANTIGEAR
- SHEMAROO
- SRAMSET
- SRF
- STOVACQ
- SUVEN
- SWASTIKA
- SWISSMLTRY
- SWOEF
- TDPOWERSYS
- TECHCON
- TFL
- THEINVEST
- WESTLIFE
- WINSOMTX
Wondering which stocks to buy? HDFC Life, Naukri, Bajaj Finserv among analysts' top intraday picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Kunal Saraogi, Avinash Gorakshakar and Bajaj Finserv share their top intraday recommendations in this special segment, Pick of the Day.
Share Market Today LIVE | Nifty 50, Sensex off day's highs amid selling pressure in SBI, HUL, ITC
SBI, ITC, Hindustan Unilever, Bajaj Finance and Sun Pharma pose maximum pressure on the headline indices.
Here's how their intraday charts have built up so far:
Nifty 50
Sensex
Images: NSE, BSE
Ashish Dhawan stock hits five-month high on robust Q4 earnings; here's what analysts suggest
Birlasoft shares touch a five-month high of Rs 312 apiece on BSE, breaching both of the intraday targets set by Zee Business Managing Editor Anil Singhvi earlier in the day. The market wizard had recommended buying Birlasoft shares for targets of Rs 298 and Rs 304.
The jump in Birlasoft shares comes a day after the midcap IT company reported a better-than-estimated set of Q4 results.
Share Market Today LIVE | Pidilite shares under pressure after weak Q4 results
The stock of Pidilite – the manufacturer of Fevicol adhesives – drop by Rs 50.2 or two per cent to hit Rs 2,401.2 apiece at the weakest level of the day on BSE.
On Monday, Pidilite reported a net profit of Rs 286 crore over revenue of Rs 2,689 crore for the quarter ended March 2023.
According to Zee Business research, the company's quarterly profit was estimated at Rs 317 crore and revenue at Rs 2,728 crore.
Pidilite's margin improved by 110 basis points to 17.1 per cent but fell short of analysts' estimate of 19 per cent.
The company's board recommended a dividend of Rs 11 per share.
Mankind Pharma truly deserves credit for bringing back life into primary market: LKP Securities' S Ranganathan
S Ranganathan of LKP Securities points out that Mankind Pharma is a fast-growing, India-centric company.
"The icing on the cake was the allotment itself wherein almost all retail investors were allotted the shares," he says.
The Mankind Pharma IPO saw 92 per cent subscription in the portion reserved for retail investors.
MGL board recommended dividend of Rs 16 per share
Also on Monday, the company announced a dividend of Rs 16 per share, a 160 per cent payout given the face value of Rs 10.
Share Market Today LIVE | MGL shares touch 52-week high after strong Q4 show
Mahanagar Gas Ltd (MGL) shares jump by as much as Rs 92.7 or 9.3 per cent to touch a 52-week high of Rs 1,092 apiece on BSE.
After market hours on Monday, the gas supplier reported a 56.2 per cent sequential jump in net profit to Rs 268.8 crore for the quarter ended March 2023. Its revenue, however, declined 3.6 per cent to Rs 1,610.5 crore, according to a regulatory filing.
The company's margin improved to 24.2 per cent for the three-month period, as against 15.3 per cent for the previous quarter.
According to Zee Business research, MGL's quarterly net profit was estimated at Rs 170 crore, revenue at Rs 1,620 crore and margin at 16 per cent.
Sensex LIVE | HDFC twins, ICICI Bank, Reliance, Axis Bank top boosts
Selling pressure in stocks such as ITC, SBI and Sun Pharma, however, limited the upside.
Mankind Pharma shares make a strong debut, shares list at more than 20% premium over issue price
Mankind Pharma, whose popular brands include Maforce and Prega News, debuts on stock exchanges at Rs 1,300 each on BSE and NSE, marking a premium of more than 20 per cent over the upper end of the IPO price band.
Share Market Today LIVE | Coal India, Bajaj Finserv rise most among 40 gainers in 50-scrip blue-chip basket
Top Nifty 50 gainers
Stock CMP Change (%) COALINDIA 237.1 1.8 BAJAJFINSV 1,428.8 1.7 INDUSINDBK 1,145.2 1.7 TATAMOTORS 507.9 1.5 ADANIENT 1,914.1 1.4 Top Nifty 50 losers
SYMBOL LTP %CHNG UPL 695.5 -2.8 SUNPHARMA 953.3 -0.9 ITC 428.0 -0.8 SBIN 580.1 -0.6 HINDALCO 443.4 -0.4 Share Market Today LIVE | Sensex rises over 250 pts, Nifty comes within six pts of 18,350 in early deals
Both headline indices rise as much as 0.4 per cent within the first few minutes of trade. The Sensex gains 263.3 points to touch 62,027.5 at the strongest level of the day so far, and the Nifty climbs to as high as 18,344.2, up 79.8 points from its previous close.
Mankind Pharma approaches Rs 1,400/share market after stellar debut on BSE, NSE
Rs 1,300 per share is history!
Mankind Pharma shares easily leap past the Rs 1,350 level to briefly change hands within Rs 13 of the Rs 1,400 mark.
The newly-listed stock trades as high as Rs 1,386.4 apiece on NSE and Rs 1,385.5 apiece on BSE within the first 30 minutes of its journey in the listed universe.
Will Mankind Pharma shares reach Rs 1,400-odd levels soon? Stay tuned to find out.
Share Market LIVE | Sensex up over 100 pts in pre-opening session
Both headline indices settle 0.2 per cent higher in the pre-open market. The Sensex is up 115.4 points at 61,879.7 and the Nifty is at 18,303.4, up 39 points from its previous close.
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