Share Market HIGHLIGHTS: Nifty 2 pts shy of 18,150, Sensex takes rally to 1,787 pts in 8 days; Tata Steel rises ahead of Q4 results, RVNL @ all-time high
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex extended gains to the eighth session in a row on Tuesday as investors returned to trade after a long weekend. However, cautious gains across global stocks, after US Treasury Secretary Janet Yellen said that the US risks running out of cash as soon as June 1, limited the upside in the Indian share market.
Catch minute-by-minute updates of all the action in the Indian share market on May 2, 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:
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex extended gains to the eighth session in a row on Tuesday as investors returned to trade after a long weekend. However, cautious gains across global stocks, after US Treasury Secretary Janet Yellen said that the US risks running out of cash as soon as June 1, limited the upside in the Indian share market.
Catch minute-by-minute updates of all the action in the Indian share market on May 2, 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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Share Market Today | Sensex, Nifty 50 close higher for 8th day in a row
Both headline indices finish about half a per cent higher, extending gains to an eighth straight day. The Sensex ends with a rise of 242.3 points at 61,354.7 and the Nifty settles at 18,147.7, up 82.7 points from its previous close.
Here's how the indices moved through the day:
Nifty 50
Sensex
Image: BSE
Sensex LIVE | Nestle India, Larsen & Toubro hit 52-week highs
Both stocks had last scaled 52-week highs on Friday.
FRESH 52-WEEK HIGHS:
- Nestle India (NESTLEIND): Rs 22,100
- Larsen & Toubro (LT): Rs 2,416
Share Market Today LIVE | Bajaj Auto, Dr Reddy's, HAL, IndiaMart, Ircon, Bosch hit 52-week highs
As many as 38 stocks in the BSE 500 universe, the broadest index on the bourse, hit 52-week highs:
| Stock | 52-week high (May 2) |
| ABCAPITAL | 170.4 |
| AKZOINDIA | 2,466 |
| ALKEM | 3,538 |
| ANURAS | 1,188.6 |
| BAJAJ-AUTO | 4,505.4 |
| BBTC | 1,073.8 |
| BLUESTARCO | 1,550 |
| BOSCHLTD | 19,854.2 |
| CARBORUNIV | 1,125.3 |
| CHOLAFIN | 895 |
| DRREDDY | 4,957.8 |
| EXIDEIND | 197.2 |
| FINCABLES | 923 |
| GMRINFRA | 46.2 |
| HAL | 2,958.8 |
| IDFCFIRSTB | 65.2 |
| INDHOTEL | 350.7 |
| INDIAMART | 5,614.2 |
| INDIANB | 330.4 |
| IRCON | 85.9 |
| KEI | 1,931.4 |
| KPITTECH | 950 |
| LLOYDSME | 341 |
| LT | 2,416 |
| M&MFIN | 278 |
| MINDACORP | 288.5 |
| NAVINFLUOR | 4,900 |
| NCC | 123.5 |
| NESTLEIND | 22,100 |
| PFC | 175.3 |
| POLYCAB | 3,258 |
| RECLTD | 138.3 |
| RVNL | 118.4 |
| SIEMENS | 3,525.9 |
| SYNGENE | 699.5 |
| VBL | 1,480 |
| WELSPUNIND | 104.9 |
| ZYDUSLIFE | 528 |
Share Market Tips LIVE | Buy Anand Rathi Wealth shares, says Sandeep Jain
Sandeep Jain of Tradeswift Broking recommends buying Anand Rathi Wealth shares for a 4-6-month target of Rs 1,000 apiece.
The stock is available at attractive levels given its relatively cheap valuation among its peers, he says.
Auto sales | Mahindra & Mahindra (M&M) passenger vehicle sales jump 54% in April
Mahindra & Mahindra — the maker of the XUV 400 EV — sold 34,698 passenger vehicles last month, as against 22,526 in April 2022, according to a company statement.
Here are some highlights:
- SUV sales up 57 per cent at 34,694
- Total sales (including exports) at 62,294 vehicles vs 45,640 a year ago
- Company says growth continues after a recordbreaking 2022-23
- CV sales growth at 16 per cent in April
- M&M says it continues to keep a close watch on dynamic supply chain situation, calls it an industry phenomenon
M&M shares are flat at this hour at Rs 1,226.1 apiece on BSE, having moved within Rs 15 around the flatline, between Rs 1,217.5 and Rs 1,232, earlier in the day.
Image: BSE
Tata Steel Q4 Results Today | What to expect from Tata group steel giant
According to Zee Business research, Tata Steel is estimated to report revenue of Rs 59,418 crore for the quarter ended March 2023, which translates to a fall of 14.3 per cent compared with the corresponding period a year ago. Its profit is estimated at Rs 288 crore for the three-month period, a steep fall given its net profit of Rs 10,030 crore for the year-ago period, according to the research.
The Tata group steel major's margin, a key measure of profitability for a business, is likely to have shrunk to 9.1 per cent from 22 per cent a year ago.
In a business update, Tata Steel had indicated a six per cent sequential increase in sales.
Read more on what to expect in Tata Steel Q4 results
Tata Steel shares hold on firmly to the green ahead of steelmaker's Q4 results today
The stock of the Tata group steel giant rises by as much as Rs 2.7 or 2.5 per cent to Rs 110.6 apiece on BSE as investor await the company's Q4 earnings due after market hours today.
INR vs USD | Rupee edges higher vs US dollar
The rupee begins the day stronger by eight paise against the US dollar at 81.75.
Anil Singhvi market strategy | Nifty 50 to hit first May F&O series target of 18,200-18,250 today
Zee Business Managing Editor Anil Singhvi sees support for the headline index coming in at 18,500-18,600 levels today, and a strong base at 17,750-17,825 levels.
Here's how Anil Singhvi views the Indian share market today and what he recommends
Nifty 50, Sensex extended gains to 7th day in a row on Thursday
Both the headline indices finished a strong session on Thursday with gains to the tune of 0.8 per cent, continuing to rise for a seventh straight session. The Sensex ended with a rise of 463.1 points to 61,112.4 and the Nifty settled at 18,065, up 150 points on the day.
Here's how the indices fared through the session:
Nifty 50
Sensex
Images: NSE, BSE
Indian financial markets remained shut on Monday for Maharashtra Day.
Share Market Today LIVE | Nifty 50, Sensex poised for a weak start after Janet Yellen warns US could run out of cash as soon as June 1
Singapore Exchange (SGX) Nifty futures, an early indicator of the Nifty 50 index, are down 33 points or 0.2 per cent at 18,240 at this hour, suggesting a negative start ahead in the Indian share market as investors return to trade after a long weekend. Earlier in the day, SGX Nifty futures slipped as much as 45 points to 18,228.
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