Download
Sensex Today Live Updates : Asian stocks eked out gains on Tuesday, following Wall Street’s advance on optimism the Federal Reserve will start cutting interest rates this year. The yen dropped.
A gauge of regional equities is set for its longest run of gains since February, helped by rally in Japanese, Korean and Australian shares. While the Nikkei 225 jumped as much as 1.6% as investors in Tokyo returned to work after a holiday, markets in Hong Kong and Shanghai swung between losses and gains.
The yen fell after Japan’s top currency official Masato Kanda said there was no need for the government to intervene if the market is functioning properly.
Global equity markets are getting a lift as investors revise their Fed policy bets due to soft US jobs data. Beijing’s latest supportive policy stance is helping to boost Chinese shares and the onshore yuan.
“In Asia you have higher growth and earnings potential compared to what you have in the US, valuations in Asia are a lot cheaper and currencies come with higher carry,” Ray Sharma-Ong of abrdn Plc said in a Bloomberg TV interview. Past experience also shows that in a Fed easing cycle, Asia actually outperforms, he said.
With investors now cautiously boosting their bets for Fed easing this year, the bond market has welcomed signs of a cooling US labor market. Having slipped for several sessions, the yield on US 10-year Treasuries stood little changed on Tuesday. Australia’s 10-year yield was steady.
Fed Bank of Richmond President Thomas Barkin said he expects high rates to slow the economy further and cool inflation to the 2% target. His New York counterpart John Williams said eventually there will be rate cuts — but the decision on when will depend on the totality of the data.
Australia’s central bank is expected to keep its key interest rate on hold Tuesday, while reinstating a hawkish bias to acknowledge sticky consumer prices.
In China, sentiment got a fillip from news that the technology hub of Shenzhen joined other major cities in easing home buying rules as authorities try to revive the beleaguered real estate market.
“Improving news flow in China, an undervalued yen and crowded fund positioning in Japan suggest that Chinese markets are likely to remain in favor in the near term,” HSBC Holdings Plc strategists including Herald van der Linde wrote in a note. “As the Fed embarks on its easing cycle, which our US economist expects to happen in late 2024, it will likely be more positive for mainland China than Japan.”
Sensex Today Live : Welspun Corp appoints Nitin Agarwal as CEO of Steel Business
Sensex Today Live : Welspun Corp informed the exchanges today that it has appointed Nitin Agarwal as CEO of Steel Business.
The company said Agarwal currently serves as the President – Global Supply Chain & Marketing at Welspun Corp.
Sensex Today Live : 11 am market update
Sensex Today Live : Indian benchmark indices had extended their losses on Tuesday.
At 11 am, Sensex was down 355.89 points, or 0.48%, at 73,539.65, and Nifty was down 100.20 points, or 0.45%, at 22,342.50.
Sensex Today Live : WABAG wins €34 million repeat order from ONAS for a 36 MLD Wastewater Treatment Plant at Sousse Hamdoun II, Tunisia
Sensex Today Live : VA TECH WABAG, a leading pure-play water technology Indian Multinational Group, has secured a repeat order from Office National De L’assainissement (ONAS). The consortium order entails Design, Build, Operate, towards a 36 MLD Wastewater Treatment Plant (WTP) valued at 114.22 Million Tunisian Dinars (approx. Euro 34 Million), located at Sousse Hamdoun II, Tunisia.
The project, funded by the French Development Agency (AFD), the European Investment Bank (BEI) and the European Union (EU) will be executed over a period of twenty-four months followed by a 12 months Operation & Maintenance period.
The scope of WABAG under this order will be Engineering & Procurement and Operation & Maintenance, which is worth about half of the consortium order value. This includes Design, Engineering, Supply, Installation and Commissioning of the plant followed by a One Year O&M phase.
The project will be spearheaded by WABAG as the leader of the consortium, with Entreprise Gloulou Mohamed et Salem (EGMS) serving as the consortium partner responsible for all Civil Works associated with the project.
Sensex Today Live : Gland Pharma receives US FDA approval for Plerixafor Injection
Sensex Today Live : Gland Pharma, a company specializing in generic injectable drugs, has secured approval from the United States Food and Drug Administration (USFDA) for its Plerixafor Injection, 24 mg/1.2 mL (20 mg/mL), Single-Dose Vial, the company announced today.
The approved product is bioequivalent and therapeutically equivalent to MOZOBIL, a plerixafor injection produced by Genzyme Corporation, a Sanofi Company. The product is used in combination with filgrastim to mobilize hematopoietic stem cells (HSCs) to the peripheral blood for collection and subsequent autologous transplantation in patients with non-Hodgkin’s lymphoma or multiple myeloma.
Gland Pharma anticipates launching this product through its marketing partner within the 2025 fiscal year. As per IQVIA data, the product recorded approximately $152 million in US sales for the twelve months ending January 2024.
Sensex Today Live : Bigbloc Construction shares gain 5% as ace investor Shankar Sharma buys 3.65 lakh company shares before its Q4 results announcement today
Sensex Today Live : Ace investor Shankar Sharma purchased 3.65 lakh equity shares in Bigbloc Construction at an average price of ₹235 per share via open market transactions. The company is set to announce its Q4FY24 results on Tuesday, May 7.
Sensex Today Live : Sector Indices Heat Map
Sensex Today Live : Sector Indices Heat Map Sensex Today Live : Barring FMCG, Consumer Durables, Media and PSU Bank, all other sectoral indices were trading in the red. The Consumer Durables index had gained 2.62%, while the Private Bank index had fallen 0.70%.
View Full Image
Sensex Today Live : Broader market indices heat map
Sensex Today Live : The broader market was in the red, with the BSE SmallCap index losing 0.15% and the BSE MidCap index losing 0.14%.
View Full Image
Sensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : 18 of the 50 stocks on the Nifty 50 were in the green. Hinustan Unilever, Britannia Industries, ITC, Nestle India, and Tata Consumer Products, were the top gainers, while Power Grid Corp., Bajaj Auto, Divi’s Laboratories, JSW Steel, and Apollo Hospitals Enterprises, were the top drags.
View Full Image
Sensex Today Live : Allsec Technologies shares jump nearly 14% after company posts 71% increase in Q4 net profit
Sensex Today Live : The company reported a 71% YoY increase in net profit at ₹20.7 crore for Q4FY24. The company’s revenue grew by 20.1% YoY to ₹129.7 crore. EBITDA jumped 43.3% YoY to ₹35.2 crore. The board has recommended a final dividend of ₹15 per equity share.
Sensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : Only nine out of the 30 stocks on the Sensex were in the green. Hindustan Unilever, Nestle India, ITC, Sun Pharma, and Asian Paints were the top gainers, while HCLTech, Power Grid Corp., ICICI Bank, Axis Bank, and JSW Steel, were the top drags.
View Full Image
Sensex Today Live : 10 am market update
Sensex Today Live : Indian benchmark indices were trading in the red on Tuesday.
At 10 am, Sensex was down 234.42 points, or 0.32%, at 73,661.12 and Nifty was down 41.60 points, or 0.19%, at 22,401.10.
Sensex Today Live : Route Mobile shares drop more than 4% after company posts 8% fall in Q4 net profit
Sensex Today Live : The company reported an 8.6% YoY drop in net profit at ₹95.2 crore for Q4FY24. The company’s revenue from operations increased 0.8% to ₹1,017 crore. EBITDA for the quarter was ₹125.4 crore, a 4% decrease from the same period last year. The EBITDA margin was 12.3%, compared to 13.1% in Q4 of FY23.
Sensex Today Live : Arvind SmartSpaces shares climb more than 3% after company posts 85% YoY jump in Q4 net profit
Sensex Today Live : The company reported an 85.7% YoY jump in net profit at ₹19.5 crore for Q4FY24. Its revenue from operations increased 26.6% to ₹117.4 crore.
Sensex Today Live : DCM Shriram shares down 4% after company posts 36% drop in net profit
Sensex Today Live : The company reported a 36.9% YoY drop in net profit at ₹117.8 crore for Q4FY24. The company’s revenue from operations decreased by 11.8% to ₹2,399.3 crore. EBITDA dropped by 22.7% to ₹313.1 crore, and the EBITDA margin stood at 13.1%, compared to 14.9% in the corresponding period in the previous fiscal. The board has recommended a final dividend of 130%, that is, ₹2.60 per equity share of face value of ₹2 each for the financial year ended March 31, 2024.
Sensex Today Live : Godrej Consumer Products shares gain more than 6% despite posting a loss of ₹1,893 crore in Q4FY24
Sensex Today Live : GCPL reported a net loss of ₹1,893.2 crore for Q4FY24, compared to a net profit of ₹452 crore in the same period last year. The company’s revenue from operations increased by 5.8% to ₹3,385.6 crore. EBITDA rose by 17.9% to ₹755.7 crore, and the EBITDA margin stood at 22.3%, compared to 20% in the corresponding period in the previous fiscal. The board has declared an interim dividend of ₹10 per share (1,000% on shares of face value of ₹1 each) for the financial year 2024-25.
Sensex Today Live : Lupin shares fall more than 4% after company posts 53% increase in consolidated net profit
Sensex Today Live : The pharma company reported a 52% YoY increase in consolidated net profit, amounting to ₹359.43 crore, for Q4 FY24. Its revenue rose by 13% from the previous year to ₹4,895.11 crore. EBITDA for the quarter was ₹1,026.1 crore, a 66% increase from ₹615 crore in the same period last year. The EBITDA margin was 14.2%, compared to 11.5% in the year-ago period. However, Profit Before Tax was lower due to an impairment charge of ₹201.3 crore. The company invested ₹425.5 crore (8.7% of sales) in R&D for the quarter.
US sales accounted for 39% of Lupin’s global sales, with Q4FY24 sales amounting to ₹1,900.6 crore, a 0.6% increase from Q3FY24 and a 22.6% increase from Q4FY23. Sales in India accounted for 33% of Lupin’s global sales, with Q4FY24 sales amounting to ₹1,601.5 crore, a 7.2% decrease from Q3FY24 but an 8.3% increase from Q4FY23. Global API sales accounted for 5% of Lupin’s global sales, with Q4FY24 sales amounting to ₹258.1 crore, a 7.1% decrease from Q3FY24 and a 20% decrease from Q4FY23.
Sensex Today Live : Redington’s Turkiye-based subsidiary to sell its fintech payments business for $93 million
Sensex Today Live : Redington today informed the exchanges that its Turkiye-based step down subsidiary, Arena Bilgisayar Sanayi Ve Ticaret A.S, Turkey has signed a definitive agreement with Iyzi Payment and Electronic Money Services Inc, Turkey, for the sale of 100% of the equity held by Arena in its fintech payments business, Paynet Ödeme Hizmetler A.Ş, which is a wholly owned subsidiary of Arena.
The company said the divestment is subject to obtaining necessary regulatory approvals, including from the Central Bank of the Republic of Turkey and the Turkish Competition Authority, and also subject to mutual fulfilment of the conditions as per the agreement.
Redington, in an exchange filing, added that the total consideration for the transaction would be $87.00 million, plus net cash of approximately $ 5 million.
Sensex Today Live : Opening Bell
Sensex Today Live : Indian benchmark indices opened in the green but were muted on Tuesday, following positive cues from global peers.
At opening bell, Sensex was up 91.43 points, or 0.12%, at 73,986.97 and Nifty was up 35.10 points, or 0.16%, at 22,477.80.
Sensex Today Live : Benchmark indices green at pre-open
Sensex Today Live : Indian benchmark indices were green but muted at pre-open on Tuesday, tracking global peers higher.
Sensex was up 77.76 points, or 0.11%, at 73,973.30 and Nifty was up 47.05 points, or 0.21%, at 22,489.75 during pre-open.
Sensex Today Live : What to expect from Indian stock market in trade on May 7
Sensex Today Live : The Indian stock market, represented by Sensex and Nifty 50, is anticipated to start Tuesday on a positive note, mirroring gains in global markets. The Gift Nifty’s trends also suggest a promising start for the Indian benchmark index, trading around the 22,585 level, nearly 35 points above the previous close of Nifty futures.
Monday’s trading session concluded with mixed results amidst volatility in the domestic equity benchmark indices. The Sensex rose slightly by 17.39 points to close at 73,895.54, while the Nifty 50 dipped by 33.15 points (0.15%) to settle at 22,442.70.
The Nifty 50 chart formed a small negative candle next to the previous session’s long bear candle. This pattern suggests a sell-on-rise opportunity within a range-bound action. The Nifty is currently at the support levels of 22,400 – 22,300 and is not sustaining its intraday upside bounces. The larger degree of higher tops and bottoms is in play. Despite a sharp decline from the new higher top of 22,794 levels on Friday, the Nifty shows weakness down to the formation of a new higher bottom of the pattern. However, a higher bottom reversal is yet to be confirmed, according to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. (Read the full story here.)
Sensex Today Live : Seven key things that changed for market overnight – Gift Nifty, Japan Services PMI to oil prices
Sensex Today Live : Indian equity indices, Sensex and Nifty 50, are poised for a positive start on Tuesday, buoyed by encouraging global market trends. Asian markets are performing well, and US stocks closed positively, fueling optimism for potential US Federal Reserve interest rate cuts this year. Market participants anticipate a 46 basis point reduction in rates by the end of 2024, with the initial cut likely in September or November, as per LSEG’s rate probability app.
Monday’s trading session saw mixed results in the Indian stock market amidst high volatility. The Sensex marginally rose by 17.39 points (0.02%) to close at 73,895.54, while the Nifty 50 fell slightly by 33.15 points (0.15%) to settle at 22,442.70.
The India VIX has surged over 70% in the past eight sessions, from around 10 to nearly 17, its 52-week high. This reflects growing investor anxiety due to ongoing global uncertainties and the upcoming Lok Sabha election results. Consequently, markets are expected to stay within a broader range, with individual stock movements likely in the short term, according to Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd. (Read the full story here.)
Sensex Today Live : Indian markets likely to have gap-up open, led by buoyant global peers
Sensex Today Live : Markets in India were likely to start on a postive note, following gains in global peers that were buoyant on the back of expectations that the US Federal Reserve would cut rates sooner rather than later.
Even the Gift Nifty futures were trading at 22,593, around 150 points ahead of Nifty 50’s Monday close of 22,442, when it had closed down 0.15% lower.
Asian shares made 15-month highs on Tuesday on renewed confidence of U.S. interest rate cuts, while traders waited on a policy meeting in Australia later in the day and had a close eye on a falling yen.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3% in early trade. Hong Kong shares traded marginally lower, having ridden a wave of heavy buying from mainland investors to lift the Hang Seng index more than 14% higher in a 10-day winning streak, its longest since 2018.
Japan’s Nikkei gained 1.3% and S&P 500 futures were steady after the cash index logged a 1% rise overnight.
The mood was underpinned by last week’s softer-than-expected U.S. jobs data and remarks from Federal Reserve Chair Jerome Powell reiterating that the next move in rates will be lower.
Treasuries, which rallied on Friday’s jobs figures, traded steady in New York overnight and 10-year yields held at 4.49% in Tokyo on Tuesday. Interest rates markets price at least one U.S. rate cut this year, in November.
Demand will be tested at a $58 billion three-year note auction on Tuesday, which is followed by $42 billion in 10-year sales on Wednesday and $25 billion of 30-year sales on Thursday.
Expectations of falling rates weighed on the dollar, except against the yen as Japanese rates are not expected to move too far above zero this year, leaving a wide gap.
The dollar rose 0.6% on the yen on Monday and a further 0.2% to 154.17 yen on Tuesday, keeping markets on edge as to whether Japanese authorities may step in again. Traders estimate Japan spent almost $60 billion defending the yen last week.
The Reserve Bank of Australia (RBA) is widely expected to leave rates on hold at its policy meeting later on Tuesday, but focus will be on whether the tone or outlook shifts to explicitly include the possibility of hikes, following an inflation surprise. The Australian dollar was steady at $0.6637 in morning trade. Swaps market pricing implies a near even chance of a rate hike later this year in Australia.
In commodity trade, oil was a tad firmer, with Brent crude futures up 0.3% to $83.58 a barrel with a ceasefire deal in the Middle East proving elusive.
Gold rose overnight and was steady at $2,325 an ounce on Tuesday.
Wheat, corn and soybean futures have surged to multi-month highs on worries about unfavourable weather in Russia – where it has been frosty and dry – and Brazil, where there are floods.
Iron ore futures have rallied on clues that China’s Politburo is planning more support measures for the beleaguered property sector. Benchmark June iron ore on the Singapore Exchange has risen almost 25% in a month. German factory orders are the highlight of the European calendar on Tuesday.
Download the App to get 14 days of unlimited access to Mint Premium absolutely free!