Share Market Live: Sensex falls 170 pts, Nifty below 16,650; IRCTC down 2%

The Indian market is likely to open lower today as SGX Nifty fell 52 points to 16,595. The equity market ended higher for the third straight session on Monday amid positive global cues. Sensex rallied 1,041.08 points or 1.90 per cent to end at 55,925.74. During the day, it gained 1,197.99 points or 2.18 per cent to 56,082.65. Nifty jumped 308.95 points or 1.89 per cent to close at 16,661.40. Of 30 Sensex stocks, 26 ended higher. BSE mid-cap and small-cap indices gained 513 points and 570 points, respectively.

Here's what to expect on Dalal Street today.

Stocks in news: LIC, IRCTC, Delhivery, M&M and more

12:50 pm: Sun Pharma, Tita, and HDFC are the top Sensex losers today, falling up to 3.71 percent

12:32 pm: Sun Pharma falls most on Sensex, Nifty post Q4 earnings

Shares of Sun Pharma fell over 4 per cent today after the firm reported weak earnings for the quarter ended March 2022. The firm reported a consolidated net loss of Rs 2,277 crore in the last quarter, on account of a one-time exceptional loss.

The Mumbai-based drug firm had reported a net profit of Rs 894 crore in the January-March period of 2020-21. The stock slipped 4.12 per cent to Rs 851.5 against the previous close of Rs 885.35 on BSE. It was the top loser on both Sensex and Nifty today.  On Nifty, the stock fell 4.17 per cent to Rs 851.20 against the previous close of Rs 888.30.

11:54 am:  Indices erase losses

Sensex falls 179 points to  55,745 and Nifty loses 40 points to 16,632.

9:55 am: LIC stock slips 2% post Q4 earnings

Shares of LIC lost 2 percent after the state-owned firm reported a 18 per cent fall in standalone net profit at Rs 2,372 crore for the fourth quarter ended 31 March, 2022. The insurance company had posted a profit of Rs 2,893 crore in the year-ago period. LIC's net premium income increased to Rs 1.44 lakh crore in the quarter under review from Rs 1.22 lakh crore in the same quarter last fiscal.

The stock fell 2.28 percent to Rs 818 against the previous close of Rs 837.05 on BSE. 

9: 53 am: IRCTC stock falls 2% post Q4 earnings

Shares of IRCTC lost 2 percent after the state-owned firm reported a 105.7 per cent jump in net profit for Q4. IRCTC stock fell 2.4 percent to Rs 677.5 against the previous close of Rs 694.85 on BSE. Net profit rose to Rs 213.78 crore in Q4 against net profit of Rs 103.78 crore in the year-ago period, mostly due to COVID-19 woes. READ MORE

Delhivery stock rose over 3 percent amid a falling market today after the logistics tech company saw its revenue rise more than two-folds in the last quarter. This is the first earnings of the company after the stock listed on the bourses this month.

Shares of Delhivery gained 3.27 percent to Rs 538.45 against the previous close of Rs 521.40 on BSE.  

Market cap of Delhivery rose to Rs 38,645 crore. Total 0.17 lakh shares of the firm changed hands amounting to a turnover of Rs 88.52 crore on BSE.

Revenue more than doubled to Rs 2,072 crore in the quarter under review as against Rs 1,003 crore in the corresponding quarter of previous fiscal.

The firm reported almost flat net loss at Rs 120 crore in Q4 against a loss of Rs 118 crore in the year-ago period. READ MORE

9:17 am :  Market opens lower

Sensex fell 359 points to 55,566 and Nifty lost 82 points to 16,578 during the opening session today.

8:35 am: Expert take

Vinod Nair, Head of Research at Geojit Financial Services said, "A near-term trend reversal is visible in the domestic market, supported by valuation comfort and positive trend in the global counterparts. US Stocks were boosted on softening inflation worries which will be a crucial factor in deciding the tone of the upcoming Fed policy meeting. The easing of long-running lockdown in China also helped in lifting the sentiments across Asian markets. The market is expected to have a positive run in the near term; however, the impact of central bank policies will be a key factor to be monitored."

8:30 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 52 points to 16,595. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Monday

The equity market ended higher for the third straight session on Monday amid positive global cues. Sensex rallied 1,041.08 points or 1.90 per cent to end at 55,925.74. During the day, it gained 1,197.99 points or 2.18 per cent to 56,082.65. Nifty jumped 308.95 points or 1.89 per cent to close at 16,661.40. Of 30 Sensex stocks, 26 ended higher. BSE mid-cap and small-cap indices gained 513 points and 570 points, respectively.