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Sensex Today Ends 350 Points Higher | Nifty Ends at Record High | Vedanta Jumps 4% & Dabur Falls 5%

Thu, 4 Apr Closing

   Previous Close   

   Pre-Open   

   10:30 am   

After opening the day on High, Indian share markets continued the momentum as the session progressed and ended the day lower.

Equity markets charted a U-shaped trajectory on Thursday, starting and ending the session with healthy gains. The S&P BSE Sensex hit a record high of 74,502 in the early hours, before turning lower for better part of the day.

At the closing bell, the BSE Sensex stood higher by 350 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 80 points.

HDFC Bank, Eicher Motors and Asian Paints were among the top gainers today.

ONGC, SBI and BPCL on the other hand, were among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

The GIFT Nifty ended at 22,638 up by 114 points or 0.3%.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day mixed. The BSE Mid Cap ended marginally lower and the BSE Small Cap index ended 0.5% higher.

Sector indices are trading on mixed, with stocks in power sector, banking sector and finance sector witnessing buying. Meanwhile, stocks in oil & gas sector, energy sector and telecom sector witnessed selling pressure.

Bosch, ABB India and Hindustan Aeronautics hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.44 against the US$.

Gold prices for the latest contract on MCX are trading marginally higher at Rs 69,715 per 10 grams.

Meanwhile, silver prices are trading 0.9% higher at Rs 79,680 per 1 kg.

Speaking of stock markets, remember how Accenture's revised growth target dominated investment news last week?

This downgrade triggered worries about Indian IT giants like Infosys and TCS. To know is the future of IT Companies bright, check out Co-head of Research at Equitymaster, Rahul Shah's latest video.

Tune in to the below video:

GM Breweries Tanks 4%. Here's Why.

In news from the food and tobacco sector, shares of GM Breweries tanked over 4% in afternoon trade on 4 April after the company reported a sharp decline in its EBITDA margin for the fourth quarter of FY24.

The company's operating margin in the January-March quarter contracted to 15.8%, sharply down from 20.1% a year ago. The drag on the company's operational performance was on account of higher expenses related to changes in inventories.

The company's board also recommended an issue of bonus shares in the ratio of 1:4. For the bonus issue, the company will use Rs 45.6 m from its free cash reserves, which will leave Rs 8 bn in its kitty. A dividend of Rs 7 per share was also approved by the board.

The manufacturer and marketer of alcoholic beverages reported a 13% drop in net profit to Rs 230 m for the December 2023 (Q3FY24) quarter.

Going forward, the company's strong presence in the country liquor segment is expected to drive its revenue and profit.

For more details, check out Top 5 Stocks to Watch Out for Bonus Shares and Stock Splits in April 2024.

Dabur India Tanks on Revenue Growth.

Moving on to news from the FMCG sector, Dabur India's shares fell over 4% after the company announced a mid-single-digit revenue growth in the January-to-March quarter.

The company's India business and home and personal care segment is expected to grow in high-single digits, said the company in its Q4FY24 result update.

Healthcare and food and beverage segments are expected to register low single-digit growth. The international business is expected to clock double-digit growth in constant currency terms, led by good momentum in the Middle East and the North African region, Egypt and Turkey. Gross margins are likely to continue to witness expansion on account of deflation in input cost and cost-saving initiatives.

Demand trends remained sluggish during the quarter, and rural growth has picked up on price rollbacks in staples, which led to the gap between rural and urban narrowing.

Why Som Distilleries' Share Price is Rising

Moving on to news from the distillery sector, shares of Som Distilleries advanced 4% to Rs 298 in the afternoon of 4 April after the company announced it recorded the highest-ever sales in a month since entering Karnataka almost a decade ago.

The company, which manufactures beer such as 'Hunter' and 'Power Cool', didn't disclose any figures but said that "achieving the highest-ever sales in a month since entering Karnataka is a remarkable feat".

On April 2, the board of directors approved a stock split in the ratio of 1:1. This means that one share would be split into one share of a face value of Rs 2.5. This isn't the first stock split undertaken by the company. In 2012, the company split its stock from Rs 10 to Rs 5.

A stock split is usually done when a company's stock price rises quite a lot, thus acting as a hindrance for new investors to enter the fray. Therefore, a split is often the result of growth or the prospects of future growth, and it's mostly a positive signal.

The company is engaged in manufacturing beer and blending and bottling of Indian-made foreign liquor. Som also commands a distribution network of distributors across India in states including Andhra Pradesh, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Karnataka, Kerala, and West Bengal.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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