Share Market HIGHLIGHTS: Sensex slumps 733 pts, Nifty slides to 22,476 dragged by IT, financial stocks
Share Market HIGHLIGHTS, Stock Market News: Domestic equity benchmarks Nifty 50 and Sensex suffered sharp losses on Friday, May 3, owing to selling pressure in financial and IT stocks after a solid start to the day. Fed Chair Jerome Powell said that while recent inflation readings mean it will likely take longer than expected for policymakers to become comfortable that inflation will resume its decline, interest rate hikes also remained unlikely. His remarks sent the three main Wall Street indices--the Dow Jones, the S&P 500 and the Nasdaq Composite--soaring 0.8-1.1 per cent.
Catch all the highlights of the May 2 session, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
Share Market HIGHLIGHTS, Stock Market News: Domestic equity benchmarks Nifty 50 and Sensex suffered sharp losses on Friday, May 3, owing to selling pressure in financial and IT stocks after a solid start to the day. Fed Chair Jerome Powell said that while recent inflation readings mean it will likely take longer than expected for policymakers to become comfortable that inflation will resume its decline, interest rate hikes also remained unlikely. His remarks sent the three main Wall Street indices--the Dow Jones, the S&P 500 and the Nasdaq Composite--soaring 0.8-1.1 per cent.
Catch all the highlights of the May 2 session, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
Latest Updates
Share Market Today LIVE: IDBI Bank shares slip into the red
Over the weekend, IDBI Bank staged a strong quarterly performance with a record net profit.
Its profit for the March quarter jumped 44 per cent on a year-on-year basis while NII grew 12.5 per cent, according to a regulatory filing.
The lender's NIM improved by 19 bps sequentially to 4.91 per cent.
The stock has given up its intraday gain after starting the day in green territory. It is down 0.3 per cent for the day at Rs 89.1 at this hour, having risen all the way to Rs 93.2 in morning deals.
Stock Market Today LIVE: GIFT NIFTY futures rise over 100 pts, suggest a positive opening ahead on Dalal Street
GIFT Nifty futures, an early indicator of the headline NIfty50 index, are up 112.3 points, or 0.5 per cent, at 22,687.5 at this hour.
Share Market Today LIVE: Asian stocks in the green amid hopes Fed won't keep rates high for long
MSCI's broadest index of Asia Pacific shares outside Japan is up 0.6 per cent at this hour.
Here's how some of the key indices from the region fare:
- China's Shanghai Composite: up 1.2%
- Hong Kong's Hang Seng: down 0.1 per cent
- Singapore's Straits Times: up 0.4 per cent
Share Market Today LIVE | Buy Orient Electric shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying the Orient Electric stock for a target of Rs 240 with a stop loss at Rs 215.
Share Market Live: As the market enters the final 30 minutes of trading, the Sensex drops over 500 pts to 73,759, and the Nifty to 22,431.
Look at the positions of the major indices at this hour:
- Sensex is down more than 500 pts at 73,759
- Nifty 50 is down more than 200 pts at 22,431.
- At 48,816, Nifty Bank is down over 400 pts.
Share Market Today LIVE: Buy Capital SFB shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart suggests buying the Capital Small Finance Bank stock for a target of Rs 380 with a stop loss at Rs 350.
Sethi's target implies an upside of 7.8 per cent from Thursday's closing price.
Avenue Supermarts Q4 results preview: Cons. PAT likely to climb 27% on year; margins to improve
Avenue Supermarts, operating and owning D-Mart stores, is scheduled to report its March quarter earnings on May 4, 2024 (Saturday).
Zee Business Research desk estimates Radhakishan Damani-led diversified retail company to report consolidated revenue of Rs 12,614 crore in the March quarter, a growth of 19 per cent over the last year’s revenue of Rs 10,594 crore.
Share Market Today LIVE | Dividend 2024: Standard Capital announces interim dividend - Check latest update regarding record date
The board of directors of Standard Capital Markets Ltd has announced an interim dividend of 1 per cent on the face value of Rs 1 each per equity share for the financial year 2023-24.
"Declaration of special dividend as an interim dividend of 1% or ₹.01 on the face value of ₹1/- each per equity share for the financial year 2023-24," the company said in an exchange filing.
Share Market Today LIVE | KEI Industries shares gain over 2% after strong Q4 results - Details
Shares of KEI Industries Limited gained over 2 per cent in morning trade on Friday i.e. May 3 after the company declared strong Q4 results 2024.
The counter opened at Rs 4080 and touched the day's high of Rs 4,100 - a gain of around 2.59 per cent. At around 11.45 am, the counter was trading at Rs 4,008 - up 0.30 per cent from the previous close on the BSE.
Share Market Today LIVE | Bajaj Finance soars over 7.50% after RBI lifts lending restrictions on finance firm
Bajaj Finance rose 7.50 per cent on BSE on Friday (May 3, 2024) after the Reserve Bank of India lifted lending restrictions on the company about stopping it from sanctioning and disbursing loans under its lending products eCOM and Insta EMI Card.
The ban on the NBFC was imposed in November.
Share Market Today LIVE | Indian Energy Exchange rises by over 2.70% after 14.10% jump in its total volume
Indian Energy Exchange jumped by over 2.70 per cent on BSE on Friday (May 3, 2024) after the energy firm said in a business update that its total volume has jumped by 14.1 per cent in April Year-on-Year (YoY).
The stock that closed at Rs 156.10 a day ago jumped to Friday's high of Rs 160.40, a 2.75 per cent rise from the previous close.
Share Market Today LIVE | Hindustan Zinc and Vedanta hit 52-week highs as zinc firm announces to discuss interim dividend
Hindustan Zinc and its parent company Vedanta Ltd hit a 52-week high each on BSE on Friday, May 3, 2024, after Hindustan Zinc informed that it would discuss the interim dividend in a board meeting on May 7. Hindustan Zinc is a subsidiary of Vedanta Ltd.
Share Market Today LIVE | MRF dividend 2024: Board recommends 1940% final dividend - Check details
The board of directors of Tyre manufacturer MRF has recommended a final dividend of Rs 1,94 or 1,940 percent per equity share of a face value of Rs 10 each.
According to an exchange filing, the company has already declared and paid two interim dividend of Rs 3 (or 30 per cent) each per equity share for the financial year ended March 31, 2024.
Share Market Today LIVE | MRF March Quarter Results: Net profit down 7.6%, margin shrinks by 50 bps; dividend declared
Tyre maker MRF on Friday reported a standalone net profit of Rs 379.55 crore for the January-March period, a decline of 7.6 per cent compared with the corresponding quarter a year ago.
Its revenue increased 8.6 per cent on a year-on-year basis to Rs 6,215.1 crore, according to a regulatory filing.