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Good afternoon.
Benchmark indices Sensex and Nifty rebounded over 1 per cent higher on Thursday, propelled by buying in index majors Reliance Industries, HUL and Infosys along with an overall positive trend in global markets.
The 30-share BSE benchmark jumped 701.67 points or 1.23 per cent to end at 57,521.06. During the day, it zoomed 971.46 points or 1.70 per cent to 57,790.85 on the expiry of derivatives contracts. The NSE Nifty rallied 206.65 points or 1.21 per cent to 17,245.05.
15:30 pm: Sensex closed 460 points lower at 57,060 and Nifty was down 142 points to 17,102.5.
15:15 pm: Sensex tanks over 500 points, Nifty below 17,100
14:25 pm: Equity benchmark indices slipped into the red amid volatility. Sensex was down 120 points and Nifty was trading flat at 17,262.
13:30 pm: Sensex zooms over 400 points, Nifty tops 17,350
12:00 pm: Shriram Transport Finance stock rises 7% post Q4 earnings
Shares of Shriram Transport Finance zoomed 7 per cent today after the non-banking financial company (NBFC) reported a 43.87 per cent rise in March quarter profit.
Shriram Transport Finance gained 7.38 per cent to Rs 1,228 against the previous close of Rs 1143.60 on BSE. Earlier, the stock opened with a gain of 4.58% at Rs 1,196 today. Total 0.78 lakh shares changed hands amounting to a turnover of Rs 9.42 crore.
Market cap of the NBFC rose to Rs 32,692 crore. The large cap share trades higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.
The stock has gained 0.22 percent in 2022 and lost 13.83 per cent in a year.
The firm reported a profit after tax at Rs 1,086.13 crore in the quarter ended March 2022, on the back of improvement in the net interest margin and asset quality. The company had posted a standalone profit after tax of Rs 754.93 crore in the corresponding period of FY21.
10:30 am: Axis Bank shares tank 5% post Q4 results
Shares of private lender Axis Bank tanked over 5 per cent to hit an intraday low of Rs 739.10 in early trade on Friday after the bank reported mixed earnings for the quarter ended March 2022.
Axis Bank on Thursday reported 54 per cent rise in standalone net profit at Rs 4,118 crore for the quarter ended 31 March, 2022 on strong growth performance across deposits and loans, improving return ratios. The lender had reported a net profit of Rs 2,677 crore in the year-ago period.
The stock opened lower at Rs 769 against the previous close of Rs 779.95 on BSE. With a market capitalisation of more than Rs 2,20,000 crore, the shares stand higher than 100 day moving averages but lower than 5-day, 20-day, 50-day and 200-day moving averages.
The net interest income – the difference between the revenue a bank earns from its interest-bearing assets and the expenses of its interest-bearing liabilities – also grew 17 per cent YoY and 2 per cent QoQ to Rs 8,819 crore. Net interest margin (NIM) for Q4FY22 stood at 3.49 per cent.
9:16 am: Market opening
Equity benchmark indices opened higher amid positive global cues. Sensex jumped 216 points to and Nifty was up 84 points at
Tech Mahindra and Sun Pharma were the top gainers on Sensex, followed by Bajaj Finserv, Dr Reddy and Bajaj Finance.
9:00 am: Twitter misses quarterly revenue estimates
Twitter Inc , which has agreed to a $44 billion sale to Elon Musk, reported first-quarter revenue on Thursday that fell short of Wall Street estimates as advertising revenues slowed.
The company reported revenue of $1.2 billion, below analysts’ average estimate of $1.23 billion, according to IBES data from Refinitiv.
Its net income rose to $513.3 million, or 61 cents per share, from $68 million, 8 cents per share, a year earlier.
The company also withdrew all previously provided goals and outlook, given the pending acquisition.
The company said daily active users rose to 229 million users in the first quarter ended March 31, from 199 million, a year earlier. Analysts on average had expected 226.8 million daily active users.
8:50 am: FII and DII action
Foreign institutional investors (FIIs) bought shares worth Rs 743.22 crore on April 27, and domestic institutional investors (DIIs) purchased shares worth Rs 780.94 crore, as per provisional data available on NSE.
8:30 am: Global updates
Wall Street ended sharply higher on Thursday after a strong quarterly report from Meta Platforms lifted beaten down technology and growth stocks and offset worries about the US economy’s contraction in the first quarter. The Facebook parent surged 17.6% after the social network reported a larger-than-expected profit and rebounded from a drop in users.
The Dow Jones Industrial Average rose 1.85% to 33,916.39 points, S&P 500 climbed 2.47% to end the session at 4,287.50 points. The Nasdaq gained 3.06% to 12,871.53 points.
Shares in Asia-Pacific climbed in Friday morning trade following big gains overnight on Wall Street as the Nasdaq Composite surged 3%. South Korea’s Kospi gained 0.27% while the S&P/ASX 200 in Australia advanced 0.46%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.26% higher.
8:15 am: SGX Nifty
The Indian equity market is likely to open on a positive note today as SGX Nifty was trading 53 points higher at 17,306.
The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:10 am: Market on Thursday
Benchmark indices Sensex and Nifty rebounded over 1 per cent higher on Thursday, propelled by buying in index majors Reliance Industries, HUL and Infosys along with an overall positive trend in global markets.
The 30-share BSE benchmark jumped 701.67 points or 1.23 per cent to end at 57,521.06. During the day, it zoomed 971.46 points or 1.70 per cent to 57,790.85 on the expiry of derivatives contracts. The NSE Nifty rallied 206.65 points or 1.21 per cent to 17,245.05.
Hindustan Unilever Limited, Asian Paints, NTPC, Power Grid, Larsen & Toubro, State Bank of India, Infosys, Axis Bank, and Reliance Industries were the top Sensex gainers, rising up to 4.55 per cent. Bharti Airtel, M&M, HCL Technologies and HDFC Bank were the only losers, falling up to 0.83 percent.
BSE mid cap and small cap indices rose 203 points and 35 points, respectively.
Among BSE sectoral indices, consumer durables and banking shares closed in the green. The market breadth was negative with 1,656 shares ending higher against 1753 stocks falling into the red. 109 shares were unchanged.
Market cap of BSE-listed firms rose to Rs 269.47 lakh crore.
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