Closing Bell | Sensex, Nifty ends flat; Tata Motors, PowerGrid, NTPC, L&T top gainers

Sensex Today | Ajit Mishra – SVP, Research, Religare Broking

Market volatility persisted, ultimately resulting in marginal changes as they paused following a recent decline. During this time, traders were engaged in navigating a mixed landscape across various sectors, with autos, energy, and metals showing moderate gains. The broader indices also experienced relief, each edging up by over half a percent.

With support hovering around the 22,150 mark in the Nifty and global markets maintaining stability, there's a possibility of some consolidation. Nonetheless, the prevailing sentiment is likely to remain pessimistic until the Nifty convincingly surpasses the 22,500 threshold. Traders are advised to exercise caution and maintain hedged positions.

Earnings Watch | Piramal Enterprises Q4 net profit at Rs 137 crore

#1 Net profit at Rs137.1 cr vs loss of Rs195.9 cr (YoY)

#2 Revenue up 16% at Rs2,473.3 cr vs Rs2,131.7 cr (YoY)

#3 Board recommends final dividend of Rs10/share

Sensex Today | Vinod Nair, Head of Research, Geojit Financial Services

The Indian market echoed subdued investor sentiments akin to those of its Asian peers, and on worries about declining voter turnout. Despite domestic Q4 earnings largely meeting estimates, the earnings landscape appears to be moderating. A sector-specific action was visible in FMCG and auto stocks, aided by an expectation of a revival in rural demand in H1FY25.

Sensex Today | Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed a volatile trading session. After a roller coaster activity the Nifty ended at 22302 while the Sensex closed at 73466. Among Sectors, buying were seen in Energy, Auto and Metal stocks, whereas profit booking continued in Financial and Private Banks stocks. Technically, from the lower levels market showed intraday recovery. From the day lowest level nifty/ Sensex rallied over 180 /600 points. However, the short-term texture of the market is still in to the weak side.

For the day traders now, 50 day SMA (Simple Moving Average) or 22350/73550 would act as a key level to watch out. Above the same, the pullback formation is likely to continue till 22400-22425/73700-73800. On the flip sid below 22240/73300 the selling pressure is likely to accelerate. Below which the market could slip till 22150-22100/73000-72800.

Sensex Today | Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

The BankNifty index encountered a volatile trading session during the expiry day, highlighting the ongoing struggle between bulls and bears. The next significant support level for the index is positioned at 47770, coinciding with the 50EMA. On the upside, immediate resistance lies at 48250. A decisive breach above this level could propel the index towards 48400-48500, where call writing activity is evident.

Sensex Today | Deven Mehta, analysts at Choice Broking

The Nifty exhibited a neutral performance with high volatility throughout the day after a gap down opening. Bank nifty also encountered volatility but closed negative for the day on its weekly expiry but managed to close above the strong support of 47900 levels at 48021.10.

The market has traded flat with the Sensex losing 0.06 percent and closed at 73466.39 and Nifty was flat by 0.00 percent intraday and closed at 22302.50 levels whereas Bank Nifty closed Negative, down by 0.55 percent and settled at 48021.10.

Among sectors Nifty AUTO, Nifty PSU BANK and Nifty METAL ended in green while Nifty IT, Nifty FIN SERVISES and Nifty PVT BANK ended on the lower side. In Nifty stocks, HEROMOTOCORP, BPCL and TATA MOTORS were the top gainers while ASIAN PAINTS, GRASIM and DRREDDYS were the prime laggards. INDIA VIX was Positive by 0.43 percent intraday and settled at 17.0800.

Index has a support around 22225-22175 zone. Coming to the OI Data, on the call side, the highest OI observed at 22500 followed by 22700 strike prices while on the put side, the highest OI is at 22000 strike price. On the other hand, Bank nifty has support at 47700-47500 while resistance is placed at 48300 and 48500 levels.

Sensex Today | Prashanth Tapse, Senior VP (Research), Mehta Equities

Investors traded with caution due to lack of fresh positive triggers and ended on a flat note with a slightly negative bias amid selective profit taking in banking and IT stocks. Firm European market cues also failed to fuel optimism, as no stoppage in foreign fund outflows and no major surprises in the ongoing earnings season prompted investors to stay guarded. Also, with election season on, no one wants to place longish bets.

Currency Check | Indian Rupee ends flat at 83.52 a dollar from its previous close

Closing Bell | Indian Markets Recover Marginally, Sensex Slips Slightly

Following a morning dip, Indian markets saw a modest recovery, with the Sensex slipping 0.06% (45 points) to close at 73,466.39 points, while the Nifty remained unchanged at 22,302.50 points. On BSE, 2133 stocks advanced, 1661 declined, and 132 remained unchanged. Nifty Oil & Gas led gainers with a 1.7% rise, followed by Nifty Metal and Auto, each up by 1.48%. However, Nifty Private Bank witnessed the steepest decline, down by 0.8%.

Stock Market LIVE Updates | Infosys to accelerate Yunex traffic's ERP

Stock Market LIVE Updates | Nifty Auto Index up 1.5% or 338 pts to hit 22452 points

Earnings Watch | Westlife Food Q4 net profit down 97% YoY

#1 Net Profit Down 96.5% At Rs0.7 Cr Vs Rs20 Cr (YoY)

#2 Revenue Up 1.1% At Rs562.3 Cr Vs Rs556.4 Cr (YoY)

#3 EBITDA Down 15.4% At Rs75 Cr Vs Rs88.7 Cr (YoY)

#4 Margin At 13.3% Vs 15.9% (YoY)

#5 Appoints Hrushit Shah as CFO of the company May 9, 2024

Stock Market LIVE Updates | Moody's places Samvardhana Motherson rating on review for upgrade

Markets @ 3PM | Indian markets recover slightly, Sensex, Nifty marginally lower

After a morning dip, Indian markets showed a modest recovery with the Sensex slipping 0.07% (53 points) to 73,457 points and the Nifty down 0.04% (9 points) to 22,294 points. On BSE, 2069 stocks advanced, 1689 declined, and 133 remained unchanged. Nifty Oil & Gas led gainers with a 1.5% rise, followed by Nifty Metal and Auto up by 1.3% and 1% respectively. However, Nifty Private Bank saw the steepest decline, down by 0.8%.

Stock Market LIVE Updates | IT stocks trades lower after Jefferies Warns of Downgrade Risk amid disappointing Q4 Results

India’s IT sector disappoints investors in Q4 results, risking more earnings downgrades, warns Jefferies. Analysts note weaker growth outlook for FY25 and minimal margin expansion potential. Tech stocks NSE gauge drops 4.4% since April 12, outpacing Nifty 50's 1% fall. Despite previous cuts, Jefferies sees continued earnings risks, restricting upside potential.

Earnings Watch | Hero MotoCorp Q4 net profit Rs 1020 crore, up 19% YoY

#1 Revenue Rs9520 crore, up 15% y/y

#2 Total costs Rs8350 crore, up 13% y/y

#3 Raw material costs Rs6100 crore, up 5.2% y/y

#4 Other income Rs180 crore, down 24% y/y

#5 Ebitda Rs1359 crore, up 25% y/y

Stock Market LIVE Updates | Swan Energy Teams Up with Telecom Consultants for System Integration and Smart City Solutions

Sensex Today | Welspun Corp eyes monetisation of ABG Shipyard land parcel

The B K Goenka-led Welspun Corp has started seeking buyers for the land it got as part of the ABG Shipyard deal, people aware of the development told Moneycontrol. Welspun acquired the ABG Shipyard in 2022 through a liquidation process under the Insolvency and Bankruptcy Code.

The move to sell the land parcel comes after the group had previously indicated that it was exploring various new business options for the shipyard, whose assets it had acquired for a consideration of Rs 659 crore in September 2022. Read more

Earnings Watch | Balaji Amines Q4 net profit at Rs 68 crore, up 44% YoY

#1 Net Profit up 43.5% At Rs68 cr Vs Rs47.4 cr (YoY)

#2 Revenue up 12.2% At Rs413.9 cr Vs Rs471.4 cr (YoY)

#3 EBITDA up 4.7% At Rs97.4 cr Vs Rs93 cr (YoY)

#4 Margin At 23.5% Vs 19.7% (YoY)

Stock Market LIVE Updates | Cipla: gets 1 inspectional observation in form 483

#1 FDA conducted routine GMP inspection at Maharashtra unit

#2 Cipla says to work closely with FDA on Kurkumbh, Maharashtra plant

IPO Watch | Indegene issue subscribed 23.56x, NII portion booked over 32x on day 3 so far

The initial public offering of Indegene continued to receive robust investor interest heading into the final day of bidding on May 8. The issue was subscribed 23.56 times as investors bought 68.01 crore equity shares as against the 2.88 crore shares on offer. Indegene provides digital services for the life sciences industry. They assist with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support. Non-institutional investors (high net worth individuals) were at the forefront, picking 32 times the reserved portion, followed by qualified institutional buyers or QIBs who bought 42 times the part set aside for them. Retail investor portion was booked 6.14 times.

IPO Watch | Aadhar Housing issue subscribed 0.26x on day 1 so far

The initial public offering of Aadhar Housing Finance was subscribed 0.26 times so far on day1. Investors bought 1.86 crore equity shares as against the 7 crore shares on offer. Non-institutional investors (high net worth individuals) portion subscribed 0.24 times, qualified institutional buyers or QIBs portion subscribed 0.32 times. Retail investor portion was booked 0.24 times.

IPO Watch | TBO Tek IPO subscribed 55% on Day 1, retail portion fully booked

TBO Tek's Rs 1,551-crore initial public offer (IPO) received healthy response on May 8, the first day of bidding, with 55 percent subscription so far the day. Investors bid for 50.91 lakh shares as against 92.86 lakh equity shares on offer, exchange data showed.

Retail portion was fully booked after investors purchased 1.7 times their allotted quota. Non-institutional investors ( high net worth individuals) also showed interest after picking up 87 percent of the portion set aside for them. QIBs or qualified institutional buyers were yet to participate in the offer.

Earnings Watch | Canara Bank Q4 net profit at Rs3,757.2, up 19% YoY

#1 Operating profit Rs7390 crore, up 1.9% y/y

#2 Gross non-performing assets 4.23% vs. 4.39% q/q

#3 Interest income Rs28810 crore, up 20% y/y

#4 Interest expense Rs19230 crore, up 26% y/y

Stock Market LIVE Updates | Bharat Forge stock up 9%; Q4 net profit surges 59%, revenue up 17%

Earnings Watch | Jupiter Wagons Q4 net profit surges 156% YoY

#1 FY24 Total income stood at Rs3662.24 crore, higher by 77% YoY

#2 FY24 EBITDA of Rs491.03 crore, up 93% YoY, EBITDA Margin Improved to 13.5% from 12.3% in FY23

#3 Delivers 156% growth to Rs 104.22 crore net profit in Q4 YoY, EPS of Rs8.27 per share for FY24

Stock Market LIVE Updates | South Indian Bank signs accord with Northern ARC Capital

Stock Market LIVE Updates | Delta Corp: stratergic partnership with AA Group, Peninsula Land

#1 Partnership for real estate development

#2 Platform to deploy Rs 765 crore in residential property

Earnings Alert | Sterlite Tech Q4 net loss Rs82 crore vs profit Rs65 crore y/y

#1 Revenue Rs1140 crore, down 39% y/y

#2 Other income Rs14 crore, down 42% y/y

#3 Total costs Rs1090 crore, down 33% y/y

#4 Ebitda Rs67 crore, down 76% y/y

#5 Order book at period end Rs 10290 crore, up 4.5% q/q

Earnings Watch | Bharat Forge Q4 net profit surges 59%, revenue up 17%

#1 Net Profit up 59.3% at Rs 389.6 Cr vs Rs 244.5 Cr (YoY)

#2 Revenue up 16.6% at Rs 2,328.5 Cr vs Rs 1,997 Cr (YoY)

#3 EBITDA rises 35.1% to Rs 659 Cr vs Rs 488 Cr (YoY)

#4 Margin at 28.3% vs 24.4% (YoY)

#5 One-time Loss at Rs 13.3 Cr vs loss of Rs 41 Cr (YoY)

Market at 1 PM | Nifty recovers over 100 pts from day's low to trade marginally higher

The Sensex was up 103.04 points or 0.14 percent at 73,614.89, and the Nifty was up 40.50 points or 0.18 percent at 22,343.00. About 1,989 shares rose, 1,185 fell, and 106 were unchanged.

IPO Watch | TBO Tek IPO subscribed 30% on Day 1, retail portion fully booked

TBO Tek's Rs 1,551-crore initial public offer (IPO) received healthy response on May 8, the first day of bidding, with 30 percent subscription during initial hours. Investors bid for 28.15 lakh shares as against 92.85 lakh equity shares on offer, exchange data showed.

Retail portion was fully booked after investors purchased 1.01 times their allotted quota. Non-institutional investors ( high net worth individuals) also showed interest after picking up 48 percent of the portion set aside for them. QIBs or qualified institutional buyers were yet to participate in the offer. Read More

Stock Market LIVE Updates | Nifty Energy index surges 1.6%, top sectoral gainer

Jigar Patel of Anand Rathi Shares and Stockbrokers calls it a technical rebound. 

Commodity Corner | Brent crude eases further, slips below $82.5 per barrel

Sensex Today | PSU banks valuations attractive in an expensive market, says VK Vijayakumar, Chief Investment Strategist at Geojit Services

The sizzle in PSU banks in today's trading session comes after recent correction. In an expensive market, PSU banks valuations are still at comfortable levels, hence investors' faith is reinstated. We expect PSU banks to report Q4 results also, with SBI Q4 performance due tomorrow

Earnings Watch | Subdued demand, competitive intensity to weigh on Q4 volumes, revenue for Asian Paints

India’s largest paint manufacturer, Asian Paints, will likely report muted earnings for the quarter ended March, as volumes remained subdued amid an ongoing slowdown in overall consumption.

The topline is expected to come in at Rs 9,017 crore for the quarter gone by, according to a Moneycontrol poll of seven brokerages, inching up 2.6 percent on-year from Rs 8,787 crore in the same quarter in the year-ago period.The EBITDA margin will see a marginal uptick of 10 basis points to 21.3 percent YoY, but moderate 130 basis points on a sequential basis from 22.6 percent in the quarter ended December.

Profit after tax will come in around Rs 1,313 crore for the March quarter, up 4.4 percent YoY from Rs 1,258 crore. Read More

Sensex Today | IRDAI slaps Rs 1 crore penalty on IPO-bound Go Digit General Insurance

The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of Rs 1 crore on IPO-bound Go Digit General Insurance for non-disclosure of a change in the conversion ratio of compulsorily convertible preference shares (CCPS) issued by its parent company to Fairfax-owned FAL Corporation.

The regulator has previously issued a show cause notice to the firm in the matter. About 63,00,000 CCPS were issued by Go Digit's holding or parent company—Go Digit Info Works Services (GDISPL)— to Fairfax Group-owned FAL Corporation. Read more

Sensex Today | Aadhar Housing Finance Confident in Sustaining 8% NIM: Moneycontrol

#1 Current shareholders not in a hurry to sell large portion of their shareholding

#2 Will be able to maintain NIM of 8% comfortably

#3 Spreads have been healthy in the range of 5-5.7%

#4 Have been able to create a very balanced funding source

#5 25% of our current borrowing comes from NHB; 18-20% comes from NCDs and balance comes from banks

#6 Have seen a decline in opex; Comfortable with 9MFY23 opex level

#7 Have seen an improvement in asset quality in 9MFY23

Stock Market LIVE Updates | Indian Coast Guard & JSPL sign MoU for supply of indigenous marine grade steel

Stock Market LIVE Updates | IndiGo recovers from lows, stock nearly 3% off lows

IPO Watch | Indegene issue subscribed 9.4x, NII portion booked over 25x on day 3 so far

The initial public offering of Indegene continued to receive robust investor interest heading into the final day of bidding on May 8. The issue was subscribed 9.42 times as investors bought 27.19 crore equity shares as against the 2.88 crore shares on offer. Indegene provides digital services for the life sciences industry. They assist with drug development, clinical trials, regulatory submissions, pharmacovigilance, complaints management, and sales/marketing support. Non-institutional investors (high net worth individuals) were at the forefront, picking 25.68 times the reserved portion, followed by qualified institutional buyers or QIBs who bought 5.69 times the part set aside for them. Retail investor portion was booked 4.61 times.

Stock Market LIVE Updates | JSW Steel to consider fund raising on May 17

Markets @ 12.01PM | Indian Markets Rebound, Sensex Marginally Lower

Indian markets bounced back from morning lows, with the Sensex down 24 points (0.03%) at 73,490, and the Nifty up 6 points (0.03%) at 22,310. Among sectoral indices, gainers include Nifty PSU Bank Index (+1.8%) and Nifty Oil & Gas (+1.7%), while Nifty Media and Metal indices rose 1.4% each. However, Nifty Private Bank Index dipped 0.66%.

Stock Market LIVE Updates | BSE PSU Index surges 2% or 400 points to hit 19760 points

Stock Market LIVE Updates|NTPC has 1 million shares traded in a bunch: Bloomberg

Stock Market LIVE Updates | Sonata Software to CNBC-TV18:Growth Will Bounce Back Moderately From June Quarter

#1 One Large Deal That Was Being Pursued, Had To Start By Jan’24

#2 Softness Seen In Quant, It Was Anticipated

#3 Growth Will Bounce Back Moderately From June Quarter, Between 1-3% QoQ

#4 It Will Take 2 Quarters For Normal Growth Rate To Return Back To Company

#5 Q2 Is Wage Increase Quarter For Us

#6 Confident Of Beating Industry Benchmark Growth Of 5-6%

#7 Deals Are Taking As Long As 6 Months To 12 Months For Some To Get Closed

#8 Expect To Close 10 Large Deals In FY25

#9 Open To Doing M&A Towards The End Of The Year If We Get A Right Fit

#10 Expect H2 To Be Better Than H1 In FY25

#11 Q1 Margin Will See Some Recovery

Stock Market LIVE Updates | Nifty Metal index up over 1%

Stock Market LIVE Updates | Sonata Software witnessed a decline of 14%, the most since February 2021, after its Q4 net profit fell by 3% year-on-year to Rs 110 crore

Sensex Today | Challenging UPI duopoly tricky, NPCI likely to extend the market cap deadline

In April, mobile payments firm Paytm’s market share in the Unified Payments Interface (UPI) ecosystem dropped to a new low of 8.4 percent. Over the last 12 months, the Noida-based firm has seen its market share drop by five percentage points. With this, now only two players have double-digit market share in UPI -- PhonePe and Google Pay.

PhonePe has seen its market share move up from around 46 percent during much of last year to around 48-49 percent since the Paytm crisis started in late January this year. PhonePe had a 49 percent market share in April. Read more

Stock Market LIVE Updates | Nifty Oil & Gas index up over 1.3%

Stock Market LIVE Updates | CarTrade Tech surged by 35 percent over the last five sessions

CarTrade Tech jumped over 9 percent, extending its gains for the fifth straight session. The stock has surged over 35 percent in the last five sessions following robust Q4 earnings.

Markets @ 11AM | Sensex, Nifty down in red; Nifty Bank, Healthcare fell

The Sensex was down 375 points or 0.51 percent at 73,137, and the Nifty was down 95 points or 0.43 percent at 22,215. About 1892 shares rose, 1550 fell, and 163 were unchanged.

Among the gainers, the Nifty Oil & Gas sector showed the most significant increase, up by 1 percent, followed by Nifty PSU Bank and Metal indices, which both rose by 0.6 percent. On the other hand, Nifty Bank experienced a decline of 0.7 percent, making it the top loser, followed by Nifty Healthcare and consumer durables indices, both down by 0.5 percent each.

Stock Market LIVE Updates | Shriram Fin slips in trade, more than 1% off highs

Sensex Today | MC Inside Edge: Voltas bulls get cold burns, money managers queasy about Kalyan, operators serve BHEL, school reopening game in Camlin Read more

Stock Market LIVE Updates | TVS Motor down nearly 3% ahead of Q4 results

Sensex Today | India Eyes 8% GDP Growth in FY24; No Comment on RBI's Draft Guidelines: Chief Economist

India's FY24 GDP likely to hit 8%. No comment on RBI's project financing guidelines, still in draft. Aiming for 9.5-10% growth like China, but context has changed - V Anantha Nageswaran, Chief Economic Adviser.

Stock Market LIVE Updates | Nifty Private Bank down 1%

Stock Market LIVE Updates | Adani Ports: Remain in discussion with various parties for growth

#1 Adani Ports clarifies on report of eying Philippines expansion

Stock Market LIVE Updates | Nifty PSU Bank Index gains 1.2%

Stock Market LIVE Updates | Paytm's UPI Transactions Decline for Third Consecutive Month, Market Share Shrinks

Paytm's UPI transactions continued to decline for the third straight month in April, according to NPCI data. With 1,117.13 million transactions, there was a 9% decrease from March. Consequently, Paytm's market share in UPI applications dropped to 8.4% in April from 10.8% in February and 9.13% in March.

Stock Market LIVE Updates | Bharat Forge Stocks Drop ahead of Q4 earnings

Bharat Forge shares tumble ahead of Q4 earnings due later today. Also news reports suggest chairman Baba Kalyani rejects sharing family assets with estranged sister's children. Kalyani asserts niece and nephew have no legal claim in the civil court affidavit.

Stock Market LIVE Updates | Vodafone Idea has 190.4 million shares change hands in single bunch: Bloomberg

Stock Market LIVE Updates | REC up more than 4%, co says, will not see an adverse impact due to RBI's draft on project financing

Stock Market LIVE Updates | L&T: Got orders in renewables and grid system

#1 L&T: Won multiple orders in India, abroad in clean energy space

#2 Wins multiple orders including floating solar plants

#3 Classifies major orders as those valued Rs5000-10000 crore

Sensex Today | Zomato-backed Shiprocket wants to move higher in e-commerce value chain

Shiprocket hitched a ride on the D2C wave that swept through the world since the pandemic days to emerge a unicorn. The thesis was simple: aggregate the services of logistics players like Delhivery, Xpressbees, Ecom Express, FedEx and Blue Dart on a single platform.

This allowed the small cosmetics or fashion brands to choose a logistics partner on the go and make their pick after judging factors like prices and ratings. Between FY20 and FY23, a rise in e-commerce adoption and the growth of new consumer brands helped the company grow its revenue from Rs 161 crore to Rs 1,089 crore. Read more

Stock Market LIVE Updates | Asian Paint dropps ahead of its Q4 earnings on May 9

Stock Market LIVE Updates | Pidilite slips over 4% after Q4 results misses Street estimates

The company reported a 6.4 percent YoY increase in net profit at Rs 304.3 crore in Q4FY24, while revenue from operations increased 7.9 percent YoY to Rs 2,901.9 crore.

Stock Market LIVE Updates | Voltas sinks over 6% after profit dropped 23% YoY in Q4FY24

Stock Market LIVE Updates | L&T slips over 1% ahead of Q4FY24 results

The company's revenue is expected to jump 18.6 percent YoY to Rs 65,402 crore. L&T's EBITDA is likely to jump 31 percent on-year to Rs 7,553.9 crore, according to Moneycontrol's poll. READ MORE

Stock Market LIVE Updates | Dr Reddy's top Nifty loser as Q4 results points out lack of any growth triggers

#1 Nuvama has a 'reduce' call on the stock with a price target of Rs 5,028
#2 Nomura and MOFSL both have a 'neutral' rating on the stock with price targets at Rs 6,499 and Rs 6,070
#3 Jefferies has an 'underperform' call on Dr Reddy's with a price target of Rs 5,010

Stock Market LIVE Updates | PB Fintech tumbles over 5% despite strong Q4FY24 performance

Stock Market LIVE Updates | Nifty PSU Bank index top sectoral gainer at this hour, up 1%

Stock Market LIVE Updates | Bears sulk broader markets; Nifty Midcap 100 index down 0.2%

Stock Market LIVE Updates | Dr Reddy's, HDFC Bank among most active stocks at this hour

Opening Bell | Sensex slips over 300 pts, Nifty below 22,200; Dr Reddy's, HDFC Bank top losers

The Sensex was down 336 points or 0.46 percent at 73,175, and the Nifty was down 108 points or 0.49 percent at 22,193. The market breadth steered towards losers - about 964 shares advanced, 1,266 shares declined, and 110 shares unchanged.

Currency Check | Rupee opens at 83.49/$ versus Tuesday's close of 83.51/$

Stock Market LIVE Updates | FADA April auto retail sales: Total sales rise 3.71% MoM to 22.06 lakh units

#1 2-wheeler sales up 7.43 percent MoM to 16.43 lakh units
#2 CV sales down 0.64 percent MoM to 90,707 units
#3 PV sales up 3.96 percent MoM to 3.35 lakh units
#4 New launches supported growth across 2W and PV segments despite supply snags

Markets at pre-open | Sensex slips over 100 points, Nifty 50 below 22,200 at pre-open

IPO Watch | Indegene IPO subscribed 7.35 times on day 2, NII maintains lead

The initial public offering of Indegene continued to receive healthy response from investors, who bought 21.21 crore equity shares which was 7.35 times higher than the offer size of 2.88 crore equity shares on May 7, the second day of bidding.

Non-institutional investors (high networth individuals) maintained the leading position, picking 18.03 times the reserved portion, followed by qualified institutional buyers who bought 5.59 times the part set aside for them. Retail investors picked 3.82 times the allotted quota, and employees 3.18 times, the exchanges data showed.

SME IPO Watch | Slone Infosystems IPO bought 616 times, Winsol Engineers booked 105x

The initial share sale of Slone Infosystems, which provides IT hardware solutions, had a robust subscription on May 7, the last day of bidding, as investors bought 86.25 crore equity shares against the offer size of 14 lakh equity shares. Non-institutional investors and qualified institutional buyers provided major support to the issue, picking 756 times the reserved portion, while retail investors bought 541.5 times the allotted quota.

Meanwhile, the IPO subscription performance of Winsol Engineers that caters to solar and wind power generation firms also remained strong as the Rs 23.36-crore initial share sale was subscribed 104.96 times on the second day of bidding today. Non-institutional investors were in the leading position among the participants, bidding 1,076 times the portion set aside for them. Retail investors picked 347.8 times the allotted quota and qualified institutional buyers bought 42.66 times the reserved portion.

IPO Watch | Aadhar Housing Finance Rs 3000 crore IPO to open for subscription today

The IPO comprises a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 2,000 crore worth of shares by promoter BCP Topco VII Pte, an affiliate of Blackstone Group. At the upper end of the price band, the valuation stands at over Rs 13,000 crore. The price band for the issue, which will close on May 10, has been fixed at Rs 300-315 per share.

The company will utilise net fresh issue proceeds for its future capital requirements towards onward lending and general corporate purposes, while the offer-for-sale funds will go to BCP Topco.

IPO Watch | TBO Tek's Rs 1551 crore IPO to open for subscription today

The Rs 1,550.81 crore issue is a mix of fresh issue of shares worth Rs 400 crore and an offer-for-sale of shares worth Rs 1,150.81 crore. Promoters Gaurav Bhatnagar, Manish Dhingra, and LAP Travel will be selling 52.12 lakh equity shares via OFS, while investors TBO Korea and Augusta TBO will be offloading 72.96 lakh shares. The price band for the issue, which will close on May 10, has been fixed at Rs 875-920 per share.

IPO Watch | Aadhar Housing Finance IPO opens on May 8: Institutional investors invest Rs 898 crore via anchor book

Aadhar Housing Finance raised Rs 897.9 crore from anchor investors on May 7, a day before the affordable housing finance company's IPO opening. The Rs 3,000-crore initial share sale will hit Dalal Street on May 8, and the closing date for the same will be May 10.

Marquee institutional investors including Morgan Stanley, Stichting Depository APG, WF Asian Reconnaissance Fund, Clarus Capital, Neuberger Berman Emerging Markets Equity Fund, Theleme India Master Fund, CLSA Global, East Bridge Capital, Nepean Long Term Opportunities Fund, and Amundi Funds invested in the company via anchor book. Read more

Sensex Today | Jefferies Warns of Downgrade Risk for India's IT Sector Amid Disappointing Q4 Results

India’s IT sector disappoints investors in Q4 results, risking more earnings downgrades, warns Jefferies. Analysts note weaker growth outlook for FY25 and minimal margin expansion potential. Tech stocks NSE gauge drops 4.4% since April 12, outpacing Nifty 50's 1% fall. Despite previous cuts, Jefferies sees continued earnings risks, restricting upside potential.

Earnings Alert | L&T Q4 results preview: Improved construction activity, order book to lift net profit, revenue

Larsen & Toubro (L&T) is expected to report strong Q4FY24 results, led by improved construction activity across projects during the quarter, strong demand and robust order book. Momentum in new orders in international hydrocarbon, mobility and power transmission and distribution businesses will also drive growth. The company is due to announce its Q4 result on May 8.

The engineering, procurement and construction (EPC) giant is expected to see its fiscal fourth-quarter net profit rise to Rs 4,380 crore, up 9.8 percent from the year-ago period, according to a Moneycontrol poll of eight brokerage estimates. The company's revenue is expected to jump 18.6 percent YoY to Rs 65,402 crore. L&T's EBITDA is likely to jump 31 percent on-year to Rs 7,553.9 crore, according to Moneycontrol's poll. Read more

Currency Check | Rupee may open flat views Anil Kumar Bhansali, analysts at Finrex Treasury Advisors LLP

#1 INR closing: 83.5075

#2 INR expected opening: 83.50

#3 Range for the day : 83.40 to 83.60

#4 Exporters to sell above 83.45 near to 83.50

#5 Importers to buy all dips stop loss for unhedged positions 83.60

The dollar went back to front foot making modest gains after earlier losses from renewed bets on FED cuts this year. Yen crossed 155 levels to 155.23 on renewed bets of intervention from BOJ while Yuan also retreated from 3 months high on Friday as it fell to 7.2300. The dollar index was at 105.57 while US 10 year yields at 4.4720%.

Demand from FPIs of dollars kept rupee down yesterday and though today's opening looks to be flat the demand should continue while selling by RBI could keep its range bound in today's session. Importers wait and watch with a stop loss on breach of 83.60.

Sensex Today | Nifty Faces Earnings Pressure says Prashanth Tapse, Senior VP (Research), Mehta Equities

In today's market scenario, the Dow celebrates its fifth consecutive day of gains, marking its longest winning streak of 2024. Meanwhile, optimism surrounds the Gift Nifty's performance this Wednesday morning, though concerns linger over Nifty's ability to break its recent losing streak amidst disappointing Q4 corporate earnings and election uncertainty. Despite challenges, factors such as a robust US economy, potential Federal Reserve rate cuts, and depressed WTI oil prices offer hope for market resilience. Nifty's pivotal support rests at the 22137 mark, with options data indicating a trading range of 21700-23000. Amidst ongoing corporate earnings scrutiny, strategic trades on Nifty and Bank Nifty are advised, while stocks like NESTLE and MARICO appear promising amidst any corrective declines. Jindal Steel & Power emerges as a sell candidate due to weakening momentum.

Sensex Today | Stocks under NSE F&O ban

Punjab National Bank, Zee Entertainment Enterprises, Aditya Birla Fashion & Retail, Balrampur Chini Mills, Biocon, GMR Airports Infrastructure, Vodafone Idea, SAIL

Sensex Today | Dr Reddy's Lab, L&T, Hero MotoCorp, JSW Energy top stocks to watch out today

#1 Dr Reddy’s Q4 profit grows 36% YoY; meets estimate

#2 L&T Q4 profit seen up 9.8% YoY; Analysts expect margins to rise at a slower pace

#3 Hero Moto Q4 net profit seen rising 20% led by rich product mix, volume growth

#4 JSW Energy Q4 profit rises 22% YoY; gets nod for Rs 1,000 cr QIP

#5 Pidilite Industries Q4 earnings below estimates; Profit grows 6.4% YoY

#6 Voltas reports over 20% YoY decline in consolidated net profit

#7 PB Fintech reports second straight quarter of profit

#8 United Breweries reports multi-fold jump in Q4 profit

Sensex Today | FII & DII Flow

FIIs sold shares worth Rs 3,668.84 crore. DIIs pumped in Rs 2,304.50 crore worth of stocks on May 7

Earnings Watch | L&T, Hero MotoCorp, TVS Motor, Bharat Forge to report Q4 today

Larsen & Toubro, Hero MotoCorp, Canara Bank, Tata Power, TVS Motor, Bajaj Consumer Care, Balaji Amines, Bharat Forge, ESAF Small Finance Bank, GSPL

Sensex Today | GIFT Nifty indicates flat start

Trends on GIFT Nifty indicate a flat to positive start for the broader index in India, with a gain of just 3 points or 0.01 percent. The Nifty futures were trading around 22,396 level.

Commodity Check | Gold Slips on Stronger Dollar Amid Hawkish Fed Remarks

Gold slipped as the US dollar gained strength, influenced by hawkish remarks from a Federal Reserve official regarding potential monetary tightening. Bullion remained stable in early Asia trading, following a 0.4% dip previously. Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, hinted at maintaining current interest rates for an extended period and didn't rule out future increases. Both higher rates and a robust dollar typically dampen gold prices, which are denominated in US currency and offer no interest. Traders also kept an eye on rising tensions in the Middle East, particularly after Israeli forces assumed control of the Rafah border-crossing in Gaza, which could drive investors towards gold as a safe-haven asset if tensions escalate further.

Sensex Today | Global cues

#1 Dow notches its longest winning streak since December

#2 Disney slides 9% as earnings miss expectations

#3 Reddit pops 14% after quarterly earnings top estimates

#4 Asian markets mixed as Japanese markets shed over a percent

#5 USD strengthens; 10Y yield eases further

#6 Oil eases further; Brent below $83/barrel as Gaza ceasefire remains uncertain

#7 Gold slips as USD strengthens

#8 GIFT Nifty signals flat start

Commodity Check | Oil Holds Near Mid-March Lows Amid Middle East Tensions

Oil steadied near its mid-March lows amid Middle East tensions and a slightly bearish US stockpiles report. Brent hovered around $83 a barrel, just above the 100-day moving average. West Texas Intermediate stood above $78. Israel's military moved into Rafah amid elusive truce talks with Hamas.

Global Markets | Asian Stocks Waver Amid Economic Uncertainties, Mixed US Session

Asian stocks are uncertain after a slow US session. Some investors doubt if the recent rally can hold amid economic uncertainties. Japan's equities fell, while South Korea and Australia's rose. Hong Kong's futures indicate a flat opening. The yen slightly decreased, as US caution on intervention adds to expectations of continued pressure. Japan's Finance Minister pledges readiness for necessary measures. Focus in Asia shifts to President Xi Jinping's European trip and evolving trade relations. The US revokes licenses for Huawei to buy from Qualcomm and Intel, signaling further tensions. Global stocks aim for recovery post-April's downturn, driven by Fed rate cut hopes and strong earnings prospects.

Global Markets | Mixed Day on Wall Street: Dow Up 0.08%, S&P 500 Rises 0.13%, Nasdaq Dips 0.1%

Wall Street trimmed gains Tuesday as investors weighed potential Federal Reserve rate cuts. The dollar's strength further weakened the yen. Global stocks, measured by MSCI, rose 0.30%, with European shares hitting record highs. Treasury yields eased while the dollar gained on expectations of robust US growth and possible rate hikes. The Dow Jones rose 0.08%, the S&P 500 gained 0.13%, and the Nasdaq dropped 0.1%. Disappointing US jobs data and sluggish GDP growth sparked speculation about Fed rate cuts.

Global Markets | AstraZeneca Withdraws COVID Vaccine Globally

AstraZeneca announced the global withdrawal of its COVID-19 vaccine due to an oversupply of newer vaccines, Reuters reported. Marketing authorizations for Vaxzevria in Europe will also be withdrawn. The decision follows decreased demand for Vaxzevria and concerns over side effects like blood clots. The withdrawal application was filed on March 5 and took effect on May 7. AstraZeneca shifted focus to respiratory syncytial virus vaccines and obesity drugs amid declining COVID-19 medicine sales last year, Reuters report added.

Markets on Tuesday

On Tuesday, India's benchmark indices Sensex and Nifty 50 closed lower as selling prevailed across the board amid disappointing Q4 earnings, thus causing a dent in market confidence near record highs. On Tuesday, Sensex closed 383 points (0.5%) lower at 73,511.85, while the Nifty 50 fell 141 points (0.6%) to 22,301.50. Of the total stocks, 840 advanced, 2,441 declined, and 82 remained unchanged.

Top gainers among sectors included Nifty FMCG Index, up 2%, and Nifty IT, up 0.77%. On the downside, Nifty realty and metals fell 3.5% and 2.4% respectively. Other losers were Nifty PSU Bank Index (down 2.3%), Nifty Healthcare (down 2%), and Nifty Auto (down 1.8%).

Good morning and welcome to the live coverage of all the action from D-Street. Stay tuned to this blog for all live updates from the market in India and around the world.