Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading with losses on Wednesday, a day before weekly F&O expiry, which also happens to be monthly F&O expiry. BSE Sensex was ruling below 57000-mark, while NSE Nifty 50 gave up 17100 levels. Only Reliance Industries and HDFC Bank stocks were trading in the green, remaining 28 stocks of 30 BSE Sensex stocks were trading with losses. RIL share price crossed another record high on Wednesday with the stock touching Rs 2827.10 a piece for the first time. The market cap also crossed Rs 19 lakh crore for the first time. Bajaj Finance, Bajaj Finserv, UltraTech Cement, M&M, Infosys, Larsen & Toubro (L&T), Maruti Suzuki were among top index draggers. Bank Nifty was down by 0.8 per cent, while Nifty Auto, and Nifty Financial Services were down 1% each.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
The International Monetary Fund (IMF) said India needs to strengthen its labour, land and education sector, with a focus on improving participation of women in the labour force, if it wants to improve its growth potential. The three areas are potential bottlenecks that could hamper India’s growth, IMF said. Furthermore, putting focus on infrastructure investment and keeping a commodity fiscal stance could be an appropriate action to support the vulnerable households, it added. For FY 2023, IMF cut growth outlook for India last week by 80 basis points to 8.2 per cent amid spillovers from the Russia Ukraine war. Read full story
BSE Sensex and Nifty 50 were trading nearly 1 per cent down on Wednesday, dragged by selling in index heavyweights such as Bajaj Finance, ICICI Bank, Infosys, Axis Bank and State Bank of India (SBI), among others. So far in the trade today, BSE Sensex hit a day’s low of 56,795.97, and NSE Nifty 50 fell to 17,016.65. Only stocks of index heavyweight Reliance Industries (RIL) touched a fresh all-time high of Rs 2,827.10 apiece, surpassing its previous high of Rs 2,800 touched on 22 April. Read full story
The much-awaited LIC IPO is set to open next week on 4 May, albeit a much smaller one than the one proposed earlier. The public sector behemoth filed its Red Herring Prospectus (RHP) with capital market regulator SEBI on Tuesday evening. However, a lot has changed since LIC filed its DRHP earlier this year in February. LIC is now looking to sell 221 million equity shares, down from 316 million it had planned earlier. The issue size has been trimmed down to 3.5% of equity, from 5% planned earlier. Read full story
Adani Power, Jindal Steel & Power, and Tata Elxsi stocks are the most likely to be added to the MSCI indices in the upcoming semi-annual index review, Edelweiss Alternative & Quantitative Research said. Analysts believe the inclusion of the three stocks could result in a total inflow of $490 million. “Going by our past experience of analysing semi-annual reviews, we believe that the MSCI May 22 SAIR market cap cut-off date has already been selected in the previous week,” said Abhilash Pagaria of Edelweiss Alternative & Quantitative Research in a note. Meanwhile, Reliance Industries is expected to see an increase in its weightage on the indices.
Bharti Airtel said Monday it has acquired a minority stake in cloud-based networking solutions provider Cnergee Technologies. The deal was all cash in which Airtel acquired 7 per cent stake in Cnergee. The company did not disclose the deal value, according to a exchange filing. Airtel's acquisition will enable it to sharpen its NaaS (Network as a Service) proposition for small and medium businesses.
With the LIC IPO coming up, we believe that May will be a record month for demat account openings in recent times. It is a milestone event for Indian Capital markets and is expected to bring millions of new investors. We at Paytm Money are excited for this opportunity as we have built one of the most robust and comprehensive trading and investment platforms in the country. More importantly, given the trust that LIC has built with the common man over the decades, a lot of these investors are expected to come from tier 2 & 3 towns. Varun Sridhar, CEO – Paytm Money
If we look at the valuations of the Rainbow Children's Medicare IPO, based on 9MFY22 numbers, the IPO is priced at a Price to Earn 30.4 times and EV/EBITDA of 13.8 times at the upper price band of the IPO, which is in line with a listed peer group. Company revenue and return ratios have improved significantly in 9MFY22 we don’t expect the company can maintain this growth in the near future. Given the expensive valuation, we suggest retail investors not apply for Rainbow Children’s Medicare IPO. We have a “NEUTRAL” recommendation for the IPO. Yash Gupta- Equity Research Analyst, Angel One
Proper tax planning or choosing the right investment option is surely a daunting task that bothers many of us. While all of us aspire to optimize taxes, only a few smart ones succeed in the mission. The reason may be lack of knowledge/information or struggles in finding the best possible solution.
Actlogica, a wealth and investment management platform, has secured Rs 3 crore in Seed funding from Zerodha backed Rainmatter Capital. “At Rainmatter, we are constantly looking out for innovative tech companies that are working on enabling and encouraging financial inclusion. We are happy to partner with Actlogica team as we strongly believe that the tools and platforms that the team at Actlogica is building can empower a generation of Indian advisors and other financial intermediaries,” said Nithin Kamath, Founder and CEO at Zerodha.
Reliance Industries (RIL) share price crossed another record high on Wednesday with the stock touching Rs 2827.10 a piece for the first time. The market cap also crossed Rs 19 lakh crore for the first time in early trading on Wednesday. The company is firing on all cylinders right from its petrol chemical business to telecom business, analysts said. Experts are bullish on the stock and see the stock heading towards Rs 3,000 apiece mark, implying a potential rally of 6 per cent more from current levels. Read full story
Bajaj Finance share price tanked 5% on Wednesday after the NBFC posted an 80% on-year growth in net profit at Rs 2,420 crore for the fourth quarter ended March 2022. The board of directors also recommended a dividend of Rs 20 per share (1,000%) of face value of Rs 2 each on equity shares for FY22. Bajaj Finance shares hit an intraday low of Rs 6,855, down 5% from previous close on BSE. Brokerages remain mixed on the stock and see up to 31% upside and 17% downside going forward. Read full story
LIC IPO News Updates: Life Insurance Corp of India has fixed a price band of Rs 902-949 a share of face value of Rs 10 each, for its upcoming Rs 21,000-crore IPO, which opens on 4 May. The IPO size finalised at 3.5% of the company equity is lower than the 5 per cent mentioned by LIC in its draft red herring prospectus (DRHP) filed with the capital market regulator SEBI in February this year.
Rainbow Children's Medicare IPO (Initial Public Offering) opened for subscription today. The Rs 1,581 crore public issue will remain open for subscription till Friday evening. Rainbow Children’s Medicare is a multi-speciality pediatric, obstetrics and gynaecology hospital chain in India. The IPO of the company will be a mix of fresh issuance of equity shares and an offer for sale (OFS) by existing shareholders. Ahead of the issue, Rainbow Children’s Medicare has raised Rs 470 crore from 36 anchor investors. Rainbow Children’s Medicare IPO is the second issue of the current fiscal year.
Despite weak market momentium, Reliance Industries (RIL) share price hit a fresh record high of Rs 2,827.10 apiece, taking the total market capitalisation of the company to Rs 19 lakh crore
Bank Nifty was down by 0.8 per cent, while Nifty Auto, and Nifty Financial Services were down 1% each.
Bajaj Finance, Bajaj Finserv, UltraTech Cement, M&M, Infosys, Larsen & Toubro (L&T), Maruti Suzuki were among top index draggers
Only NTPC stocks were trading in the green, remaining 29 stocks of 30 BSE Sensex stocks were trading with losses
BSE Sensex tanked 467 points or 0.8 per cent to 56,888, while Nifty 50 index gave up 17100 levels on opening
Sensex falls below 57000, while Nifty 50 index gave up 17100 level, in line with SGX Nifty trend in pre-open
The market is seen heading southward in early trades much in tandem with the rout in other global indices amid concerns about global economic growth stemming from China. As on date, the world economy once again finds itself in a problematic position due to growth concerns amidst renewed Covid surge in China and Russia’s Ukrainian invasion. Our call of the day suggests Nifty may trade volatile with interweek support seen only at 16597 mark. Intraday support for the index is seen at the psychological 17000 mark. To regain momentum on the buy side, Nifty needs to stay above its 200-DMA at 17207 mark. Prashanth Tapse, Vice President (Research), Mehta Equities
On Tuesday, the US 10-year bond yield fell more than 3% , causing gold prices to rise modestly. The strong US dollar index, on the other hand, limited precious metals' gains. Global stock markets are under pressure as a result of slowing global growth and rising inflation, attracting safe-haven demand and keeping gold prices low. Consumer sentiment in the United States was 107.3 points lower than expected, indicating fewer demand due to rising costs. The current precious metals trend may continue to rise where Gold prices could rise to 52000 levels having support level of 51400. Silver prices may stay range-bound, with support around the lower end of the range. Support is available at 64400. Nirpendra Yadav, Senior Commodity Research Analyst, Swastika Investmart
Technically, once again the indices reclaimed the 17000/57000 mark and succeeded to close above the 50-Day SMA which looks grossly positive. After a promising pullback rally, the index is trading near its 200-Day SMA. For the short term traders, the support has shifted to 17100/57000 from 17000/56700. Read full story
Domestic markets moved higher on Tuesday, as bulls attempted a comeback, but global cues and SGX Nifty were suggesting another reversal for today. S&P BSE Sensex rose 776 points or 1.37% to settle at 57,356 points while the NSE Nifty 50 index jumped 246 points or 1.46% to regain 17,200. Entering Wednesday’s trade, SGX Nifty was down 200 points, hinting at a gap-down start to the day’s trade. Global cues were weak with Wall Street equity indices having tanked severely on Tuesday. An aggressive Fed tightening and resurging covid is weighing down on investor sentiment.
Multi-speciality pediatric hospital chain Rainbow Children’s Medicare Ltd on Tuesday said it has garnered nearly Rs 470 crore from anchor investors ahead of its initial public offering (IPO). The company has decided to allocate a total of 8,663,404 equity shares to anchor investors at Rs 542 apiece, taking the transaction size to Rs 469.55 crore. Read full story
The much-awaited Life Insurance Corporation of India (LIC) IPO (initial public offering) is set to open next week with the public sector behemoth filing its Red Herring Prospectus (RHP) with capital market regulator SEBI on Tuesday evening. However, much has changed since LIC filed its draft papers earlier in February. Now, the insurance giant is looking to sell 221 million equity shares down from the 316 million it had planned earlier. The issue size has also come down, but LIC’s public issue will still be the largest ever to hit Dalal Street. LIC IPO will open on May 4.
Life Insurance Corporation (LIC) has fixed the price band for its initial public offer (IPO) at Rs 902-949 a share. The issue, which will remain open for retail investors from May 4 to 9, will enable the government to offload 3.5% stake in the insurer for Rs 21,000 crore, according to an official source. The insurer filed the red herring prospectus (RHP) with the Securities and Exchange Board of India (Sebi) late Tuesday. Read full story
Stocks fell Wednesday as mixed corporate earnings, China’s Covid struggles and the prospect of aggressive Federal Reserve monetary tightening all pointed to a deteriorating economic outlook. MSCI Inc.’s Asia-Pacific share gauge dropped to the lowest since mid-2020, sapped by Japan, while bourses in China and Hong Kong fluctuated. Read full story
Reliance Industries: Reliance Industries (RIL) and Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) have entered into a formal shareholders’ agreement.
Bajaj Finance: Bajaj Finance Ltd on April 26 reported a 79.7 per cent on-year rise in consolidated net profit to Rs 2,420 crore. Read full story
Wall Street ended sharply lower on Tuesday, with the Nasdaq closing at its lowest since December 2020 as investors worried about slowing global growth and a more aggressive Federal Reserve. Read full story
