Share Market HIGHLIGHTS: Sensex slumps 733 pts, Nifty slides to 22,476 dragged by IT, financial stocks
Share Market Today HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex gave up initial gains amid volatile trade on Friday, May 3. Catch all the highlights of the May 2 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms 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
That's all today!
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.
Share Market Today LIVE | Rs 5 dividend stock: Brokerages bullish on this PSU stock - Check targets
The shares of Coal India surged over 3 per cent as equity benchmark indices climbed in early trade on Friday, following a positive trend from the US markets.
The 30-share BSE Sensex jumped 470.92 points to 75,082.03 in early trade. The NSE Nifty climbed 139.5 points to hit a record peak of 22,787.70.
Share Market Today LIVE | Shares of this midcap IT co. plummets up to 10% as it makes open offer to buy Cigniti Technologies
Shares of the IT solutions company Coforge nosedived by as much as 10 per cent in Friday’s trade after the company made a mandatory open offer to the shareholders of Cigniti Technologies to buy 54 per cent stake in the latter.
Share Market Today LIVE | CEAT slips over 9% after tyremaker reports nearly 20% decline in profits in Q4 results
CEAT Ltd nosedived over nine per cent on BSE on Friday (May 3, 2024) after the tyremaker reported mixed fourth-quarter results a day ago.
The stock that closed at Rs 2620.70 in the previous session sunk to Friday's low of Rs 2,383.35, a 9.05 per cent slide.
Share Market Today LIVE | 92% return in 1 year: This pharma stock trades at 52-week high - Here's what Anil Singhvi recommends
Shares of Ajanta Pharma traded on a fresh 52-week high as benchmark indices clocked solid gains on Friday.
While Sensex surged 470.92 points to 75,082.03 in early trade, Nifty climbed 139.5 points to hit a record peak of 22,787.70.
Share Market Today LIVE | Anil Singhvi Market Strategy May 3: Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 22,600-22,650 levels and a strong buy zone at 22,500-22,575 levels on Friday, May 3.
For the Nifty Bank, he expects support to come in at 49,000-49,125 levels and a strong buy zone at 48,725-48,875 levels.
Stock Market Today LIVE: Looking for long-term stock ideas? Brokerages have 'buy' calls on these shares; check out targets
- ICICI Securities has a 'buy' rating on IndiaMART InterMESH with a target of Rs 3,500 per share
- KRChoksey recommends buying Maruti Suzuki shares for a target of Rs 14,975
Share Market Today LIVE | Cyient shares gain over 1% as HDFC Mutual Fund buys stake via bulk deal
Shares of Cyient started Friday's trade (May 3, 2024) on a positive note after a bulk deal in the engineering and technology solutions company on BSE in the previous session.
The bulk deal data on the BSE shows that HDFC Mutual Fund bought 11.33 lakh shares, equating to 1.02 per cent stake in the entity at an average price of Rs 1800 per share, a premium of a mere 0.32 per cent over the last closing price.
Share Market Today LIVE: Nifty hits record high, Sensex jumps over 450 points boosted by financial stocks
Both headline indices rise as much as 0.6 per cent within the first few minutes of trade, with the Sensex gaining as much as 476.7 points to touch 75,087.8 on the upside and the Nifty50 climbing to a record high of 22,793.4, up 145.2 points from its previous close.
Bajaj Finance shares skyrocket
Domestic equity benchmarks make a strong start to the day with the Nifty50 scaling a fresh peak, led by strong buying interest in financial stocks after the RBI's move to lift certain restrictions on two of Bajaj Finance's lending products. Bajaj Finance, ICICI Bank, HDFC Bank and NTPC are the biggest contributors to the rise in the 30-scrip gauge.
Share Market Today LIVE | Nifty hits record high, Sensex jumps over 450 points boosted by financial stocks; Bajaj Finance shares skyrocket
Domestic equity benchmarks made a strong start to the session on Friday with the Nifty50 scaling a fresh peak, led by strong buying interest in financial stocks after the RBI lifted certain restrictions on two of Bajaj Finance's lending products.
Dalal Street took strong cues from global markets after the Fed ruled out interest rate hikes while indicating that the US central bank was leaning toward a dovish stance.
Share Market Today LIVE: L&T, Reliance, Maruti Suzuki, Bharti Airtel, Nestle India, Asian Paints worst hit among 35 Nifty losers
Top Nifty gainers
Stock Change (%) CMP COALINDIA 2.38 464.7 BAJFINANCE 2.03 7,022.65 ONGC 1.98 288.4 BAJAJFINSV 1.58 1,641.00 GRASIM 1.58 2,475.80 TATACONSUM 1.22 1,104.45 DRREDDY 1.04 6,352.80 BAJAJ-AUTO 0.87 9,190.00 SHRIRAMFIN 0.8 2,602.70 APOLLOHOSP 0.73 6,001.95 Top Nifty losers
Stock Change (%) CMP LT -2.23 3,519.25 RELIANCE -2.02 2,873.90 MARUTI -1.96 12,555.00 BHARTIARTL -1.87 1,279.60 NESTLEIND -1.84 2,466.05 ASIANPAINT -1.5 2,930.90 JSWSTEEL -1.49 877.1 HCLTECH -1.46 1,340.85 TCS -1.36 3,810.65 ADANIPORTS -1.3 1,321.35 Share Market Today LIVE: Barring Bajaj twins, Tata Steel, ICICI Bank, all Sensex stocks in the red
Top Sensex losers
- L&T down 2.2%
- Bharti Airtel down 1.8%
- Maruti Suzuki down 1.7%
- Nestle India down 1.7%
- Reliance down 1.5%
Image: BSEIndia.com
Share Market Today LIVE: Sensex slumps over 900 pts from day's high as IT, financial stocks face selling pressure
Share Market Today LIVE | Should you buy Bajaj Finance, Coforge, Hindalco, ONGC, Federal Bank, other stocks today?
As Dalal Street enters the May 3 session, brokerages have several stocks on their radar.
Here's what Jefferies, Macquarie, JPMorgan, Citi, Morgan Stanley and CLSA make of stocks such as Bajaj Finance, Coforge, Hindalco, ONGC, and Federal Bank.
Share Market Today LIVE | Stocks to buy: Tata Motors, Bajaj Auto, SRF, HPCL, Ashok Leyland among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Kunal Saraogi, Sandeep Jain, Sacchitanand Uttekar, Jay Thakkar, Sudeep Shah, and Rajesh Palviya share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as Tata Motors, Bajaj Auto, SRF, Hindustan Petroleum Corporation Ltd (HPCL), Ashok Leyland, Computer Age Management Services (CAMS), and Anup Engineering.
Share Market Today LIVE: Nifty50 crosses 22,783 to record high
The Nifty gains as much as 145.2 points, or 0.6 per cent, to notch an all-time high of 22,793, 10 points above its previous high.
Share Market Today LIVE: Here's how market wizard Anil Singhvi views Dalal Street today; note down important levels to track in Nifty50, Nifty Bank
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 22,600-22,650 levels and a strong buy zone at 22,500-22,575 levels today. For the Nifty Bank, the market guru expects support to come in at 49,000-49,125 levels and a strong buy zone to emerge at 48,725-48,875 levels.
Read more on what market wizard Anil Singhvi makes of the share market today
Share Market Today LIVE | Buy, sell or hold strategy on IOCL, Coal India, DLF, UBL, Cyient, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Friday, May 3, 2024.
Check out the complete list of stocks on analysts Kushal Gupta and Varun Dubey's radar.
Commodity Market | Oil steadies, heads for weekly drop on US economy worries
Oil prices edged up in early trade on Friday on the prospect of OPEC+ continuing output cuts, but the crude benchmarks were headed for weekly losses on US economic uncertainty and limited crude supply disruptions caused by the Israel-Hamas war.
Brent crude futures for July rose 16 cents to $83.83 a barrel by 0008 GMT. US West Texas Intermediate crude for June was up 19 cents to $79.14 per barrel.
Bajaj Finance Stock Price: All eyes on BAJFINANCE stock today
Bajaj Finance (BAJFINANCE) have dropped almost five per cent since the RBI ordered the ban in November, underperforming an 11-odd pre cent rise in the Nifty Financial Services index.
Bajaj Finance Share Price: BAJFINANCE stock declined 0.7% to Rs 6,881 on Thursday
Bajaj Finance shares declined by Rs 50.1, or 0.7 per cent, to settle at Rs 6,881 apiece on BSE on May 2, before the development.
During Thursday's session, the NBFC stock gyrated between gains and losses, in a range of Rs 6,850.1-6,972.5.
Bajaj Finance Market News Today: Pune-based NBFC's stocks in focus today
The RBI has lifted certain restrictions on Bajaj Finance's lending products, which means the NBFC is now allowed to "resume sanction and disbursal of loans" in the banned business segments, according to a statement by the Pune-headquartered company on Thursday.
The banking regulator had barred Bajaj Finance from issuing loans under its eCOM and Insta EMI Card lending products citing deficiencies in adhering to digital lending guidelines.
Stock Market Today LIVE: Titan, Tata Technologies, Britannia, MRF, Godrej Properties among 50-odd companies all set to report March quarter results today
Around 50 companies are all set to report their quarterly financial results today, including Titan, Britannia, MRF, Godrej Properties, Tata Technologies, Tatva Chintan, Aarti Drugs, Inox Wind, MRPL and Raymond, a day after Coal India staged a strong show for the fourth and final three months of FY24.
Market News Today: Crude oil prices steady, headed for a weekly drop on US economy worries
Crude oil prices edge up on the prospect of OPEC+ continuing output cuts. The benchmarks, however, are headed for weekly losses on US economic uncertainty and limited crude supply disruptions caused by the Israel-Hamas war.
- Brent crude futures: up by 16 cents at $83.8 a barrel
- US WTI futures: up by 19 cents at $79.1 per barrel
Share Market Today LIVE: Dow Jones, S&P 500, Nasdaq Composite jump after Fed rules out rate hikes
Fed Chair Jerome Powell has 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 remain unlikely.
Here's where the three main US stock market benchmarks stand at the end of Thursday's trade:
- Dow Jones Industrial Average: up 426.1 points, or 1.1 per cent, at 38,463.1
- S&P 500: up 45.8 points, or 0.9 per cent, at 5,064.2
- Nasdaq Composite: up 130.7 points, or 0.8 per cent, at 15,736.1
Share Market Today LIVE: Asian stocks jump tracking overnight gains on Wall Street
MSCI's broadest index of Asia Pacific shares outside Japan is up 1.1 per cent.
Here's where some of the key indices of the region stand:
- Hong Kong's Hang Seng: up 1.2 per cent
- Singapore's Straits Times: up 0.2 per cent
- South Korea's KOSPI: up 0.2 per cent
Share Market Today LIVE: GIFT Nifty futures jump over 120 pts
GIFT Nifty futures are up 122.6 points, or 0.5 per cent, at 22,896.5 at this hour, suggesting a gap-up opening ahead on Dalal Street.
GIFT Nifty futures are an early indicator of the headline Nifty 50 index.
Share Market Today LIVE | Welcome to Zeebiz.com's blog on Dalal Street 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 during the course of the day.
Happy trading, and happy investing!
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.