Sensex Today | Share Market Live Updates: Domestic benchmark equity indices, Senex and Nifty, slipped in the red on Friday after giving up the stellar gains made earlier in the day. The Sensex was below 74,100, while Nifty 50 was hovering around 22,500.
Asian stocks climbed on Friday, as the latest round of US economic data indicated a slowing momentum, strengthening the argument for the Federal Reserve to start cutting interest rates this year. Australian, Japanese and Hong Kong shares saw gains, while Chinese stocks struggled.
Wall Street traders saw stocks decline on Friday after the latest round of economic data signaled a slowdown in momentum. The S&P 500 dropped to around 5,230. The Nasdaq 100 fell 1%.
Back home, all eyes will be on the GDP data to be released later on Friday. The government will also release fiscal deficit data for FY24 and core sector data for April.
The Indian economy likely ended the previous financial year on a strong footing, despite a slower fourth quarter, according to a Mint poll of economists.
According to the median estimate of the 20 economists, GDP growth slowed to 7.0% in January-March from 8.4% the previous quarter mainly due to the slowdown in industrial growth and subdued agricultural activities.
However, strong growth in all quarters, with three of the four printing 8%-plus growth, would result in GDP growth rising to 7.9% in FY24 from 7.0% the previous year, according to estimates by 19 economists.
31 May 2024, 03:16:58 PM IST
Sensex Today Live: Elara Securities India on Amara Raja Energy post Q4FY24 results
Amara Raja will incur significant capex to become future ready in the Li-ion segment (FCF may take a hit in the medium term). The next leg of valuation re-rating is likely if it is able to tie up with a large firm for technology tie-up in the Li-ion cell space, which could open up the PV Li-ion cell opportunity size of ~45GWh by FY30E, in our view. We continue to monitor new order wins in the lithium-ion space, especially for anchor customers in the 2W space. Auto replacement demand will keep core business revenue and profitability insulated from the cyclicality of the OEM business.
We expect a revenue CAGR of 9%, an EBITDA CAGR of 13% and a PAT CAGR during FY24-26E, with margin expansion of 80bp. We reiterate ‘accumulate’ with a higher target price of ₹1,341 from ₹1,031 on 20x (from 15x) on June 2026E P/E.
AMARA RAJA ENERGY & MOBILITY
1,174.50-15.25 (-1.28%)
Updated – 31 May 2024
1222.90
DAY HIGH
1174.50
DAY LOW
68,870.00
VOLUME (BSE)
31 May 2024, 03:04:23 PM IST
Sensex Today Live: Wired internet targets content, TV services to double presence
The wired internet industry is betting on growing its user base two-and-a-half times to 100 million in the next five financial years as multiple-device households and an increase in streaming video content drive demand for high-speed fiber connections. It is also banking on attracting many of the 63 million subscribers of D2H television by offering internet protocol television (IPTV) and wired broadband as a bundled service.
31 May 2024, 02:53:53 PM IST
Sensex Today Live: India Q4 GDP growth likely slowed down to 7%: Mint poll
The Indian economy likely ended the previous financial year on a strong footing, despite a slower fourth quarter, according to a Mint poll of economists.
According to the median estimate of the 20 economists, India’s Q4 GDP growth slowed to 7.0% from 8.4% the previous quarter mainly due to the slowdown in industrial growth and subdued agricultural activities.
However, strong growth in all quarters, with three of the four printing 8%-plus growth, would result in GDP growth rising to 7.9% in FY24 from 7.0% the previous year, according to estimates by 19 economists.
GDP data for January-March and FY24 are scheduled to be released on 31 May.
31 May 2024, 02:37:47 PM IST
Sensex Today Live: Emami stock glows amid signs of rural recovery and a scorching summer
Emami Ltd’s shares hit a new 52-week high of ₹646.20 on the NSE in early trade on Friday. The stock is up about 15% since the company declared its March quarter (Q4 FY24) results on Wednesday even though Ebitda came in slightly under some analysts’ expectations.
31 May 2024, 02:28:08 PM IST
Sensex Today Live: BSE SmallCap index outperforms; up 0.7% led by J. Kumar Infra
31 May 2024, 02:16:49 PM IST
Sensex Today Live: Praj Industries share gain 7% after Q4 earnings; up over 800% in 4 years
Praj Industries reported a 4.3% year-on-year increase in net profit to ₹91.9 crore for the fourth quarter, up from ₹88.1 crore in the same quarter the previous fiscal year. Revenue grew by 1.5% to ₹1,018.6 crore compared to ₹1,003.9 crore in the corresponding period of the previous fiscal year.
PRAJ INDUSTRIES
520.8519.20 (3.83%)
Updated – 31 May 2024
538.00
DAY HIGH
504.70
DAY LOW
3,37,806.00
VOLUME (BSE)
31 May 2024, 02:04:45 PM IST
Sensex Today Live: Mint tracker records slight dip in Indian economy’s performance in April
The Indian economy’s performance moderated in April, with six of the 16 high-frequency indicators tracked by Mint falling below their five-year averages during the month, as against four in the previous month.
31 May 2024, 01:49:13 PM IST
Sensex Today Live: Asian markets mostly higher as US data fuels Fed Rate cut hopes
Most markets rose on Friday after a week of declines, as below-forecast US economic data revived hopes that the Federal Reserve might cut interest rates this year.
Tokyo’s Nikkei 225 gained 0.2% to close at 38,119.96, while Hong Kong’s Hang Seng Index also rose 0.2% to 18,266.89. In contrast, Shanghai’s Composite Index fell by 0.2% to close at 3,086.81. London’s FTSE 100 edged up by 0.1% to 8,238.25.
31 May 2024, 01:29:18 PM IST
Sensex Today Live: What’s caused Mazagon Dock Shipbuilders stock to surge 300% in a year?
In the past few days, shipbuilding companies have caught the attention of investors and shares of Cochin Shipyard, Garden Reach Shipbuilders and Mazagon Dock Shipbuilders have all jumped. What is the reason? Equitymaster explains
31 May 2024, 01:17:08 PM IST
Sensex Today Live: Crude oil prices dip as Fed signals prolonged higher rates ahead of key US inflation data
Oil prices fell in Asia on Friday following comments from a Federal Reserve official that reinforced expectations of prolonged higher interest rates. This outlook will be further tested with the release of a highly anticipated U.S. inflation report later in the day. Brent futures fell 3 cents, or 0.04%, to $81.83 per barrel, while U.S. West Texas Intermediate (WTI) crude fell 10 cents, or 0.13%, to $77.81.
31 May 2024, 01:00:29 PM IST
Sensex Today Live: Brokers bracing for potential volatility as India prepares for election results
As India counts down the days to the 2024 Lok Sabha election results, key brokerage firms are bolstering their defences, preparing for potential market volatility that often accompanies poll outcomes.
Brokerage firms like HDFC Securities, Prabhudas Lilladher, and Nirmal Bang are actively working to safeguard their clients and minimize capital loss risks.
31 May 2024, 12:47:32 PM IST
Sensex Today Live: Shilpa Rout, AVP – derivatives research, Prabhudas Lilladher on markets
NIFTY: The rollover percentage is at 72%, consistent with the three-month average. The option chain indicates a wide range for the series, with significant activity seen in 23500CE and 22000PE.
BANK NIFTY: Rollovers were relatively low at 68%, indicating an indecisive trend for the index. The option chain highlights aggressive positions at 49000CE and 48000PE.
FIIs: The long-short ratio is at extreme lows of 13% longs and 87% shorts, suggesting a potential turnaround event, possibly leading to a short covering rally.
Sector Performance: Strong rollovers were observed in several sectors including Banking, Metals, Energy, Capital Goods, Pharmaceuticals, Technology, Automotive and Cement.
31 May 2024, 12:36:39 PM IST
Sensex Today Live: BSE Midcap slips into the red, down 0.5% with Ipca Lab, Rajesh Exports dragging the most
31 May 2024, 12:24:42 PM IST
Sensex Today Live: Muthoot Finance shares gain as company’s net profit jumps 17%
Muthoot Finance reported a 17% increase in consolidated net profit to ₹1,182 crore for the March quarter. Total income rose to ₹4,179 crore from ₹3,298 crore a year ago. Expenditure during the quarter increased to ₹2,594 crore from ₹1,943 crore.
MUTHOOT FINANCE
1,690.7517.45 (1.04%)
Updated – 31 May 2024
1745.20
DAY HIGH
1674.05
DAY LOW
26,006.00
VOLUME (BSE)
31 May 2024, 12:14:56 PM IST
Sensex Today Live: Chinese EVs are facing a tariff wall in the West. Will they turn to India now?
Fearing a deluge of Chinese electric vehicles (EVs) and their batteries following developments in the US and EU, the Centre is ramping up its vigilance mechanisms to better monitor and prevent dumping of Chinese electric vehicle (EV) batteries as well as EVs themselves, two people aware of the matter said.
31 May 2024, 12:04:19 PM IST
Sensex Today Live: Markets at noon: Sensex up 150 points; Nifty around 22,523; IT, media, pharma stocks drag
31 May 2024, 11:51:57 AM IST
Sensex Today Live: Are Tata Steel’s Europe operations close to a turnaround?
The bleeding UK unit of Tata Steel Ltd will start generating operating profit from the latter half of this financial year, managing director T.V. Narendran said, once its blast furnaces are shut and the unit begins processing crude steel imported from India and the Netherlands.
31 May 2024, 11:40:38 AM IST
Sensex Today Live: Ipca Labs share price down over 11% in three days after Q4 result
Ipca Laboratories reported a 22.12 % fall in Q4FY24 consolidated net profit to ₹59.59 crore. Its revenue rose 34.5% YoY to ₹2,033.01 crore.
IPCA LABORATORIES
1,157.30-92.35 (-7.39%)
Updated – 31 May 2024
1237.95
DAY HIGH
1146.70
DAY LOW
63,262.00
VOLUME (BSE)
31 May 2024, 11:30:37 AM IST
Sensex Today Live: Welspun Corp stock drops 8% as EBITDA declined 21.9% to ₹330.2 crore
Welspun Corp reported a 19.7% increase in net profit to ₹287.3 crore. Revenue rose by 9.6% to ₹4,461.2 crore. EBITDA margin contracting to 7.4% from 10.3% year-over-year.
WELSPUN CORP
545.50-55.55 (-9.24%)
Updated – 31 May 2024
584.50
DAY HIGH
545.50
DAY LOW
1,60,818.00
VOLUME (BSE)
31 May 2024, 11:20:58 AM IST
Sensex Today Live: India’s tile exports bounce back amid challenges, end FY24 at record
Despite facing setbacks due to increased ocean freight costs and prolonged transit times sparked by the Red Sea crisis, India’s tile exports have shown remarkable resilience. After a decline to 41 million square meters in January 2024 from a peak of 62 msm in August 2023, a tangible turnaround has emerged.
31 May 2024, 11:08:21 AM IST
Sensex Today Live: Sensex gives up a chunk of gains seen at open; only 100 points higher now
