Sensex Today Ends 21 Points Higher | Banking Stocks Gain | IIFL Surges 13%, NBCC 11%

Fri, 5 Apr Closing

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After opening the day on low, Indian share markets turned positive as the session progressed and ended the day higher.

Benchmark indices stayed in the negative zone on Friday after the Reserve Bank of India's Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% in FY25's first monetary policy. The decision was taken with a majority of 5:1.

At the closing bell, the BSE Sensex stood higher by 21 points.

Meanwhile, the NSE Nifty closed higher by 10 points.

HDFC Bank, Bajaj Finserv and kotak Mahindra were among the top gainers today.

Bajaj Auto, Bharti Airtel 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 22,607 down by 40 points or 0.2% lower.

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 and the BSE Small Cap index ended 0.5% higher.

Sector indices are trading on mixed, with stocks in realty sector, banking sector and finance sector witnessing buying. Meanwhile, stocks in IT sector, auto sector and media sector witnessed selling pressure.

Bosch, ABB India and Sun Pharma 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 83.3 against the US$.

Gold prices for the latest contract on MCX are trading marginally higher at Rs 69,758 per 10 grams.

Meanwhile, silver prices are trading 0.6% lower at Rs 79,527 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:

Why Small Finance Bank Stocks are Rising

In news from the banking sector, shares of small finance banks rose up to 2.5% on 5 April after the Reserve Bank of India (RBI) Governor Shaktikanta Das said the central bank has allowed SFBs to use rupee derivative products to hedge interest risks.

At present, SFBs are permitted to use only interest rate futures (IRFs) for proprietary hedging.

Shares of Ujjivan Small Finance Bank, Suryoday Small Finance Bank, Equitas Small Finance Bank, ESAF Small Finance Bank and Capital Small Finance Bank rose up to 2.6% in morning deals.

Further, Ujjivan Small Finance Bank shares rallied more than 7% on 4 April 2024 after the lender reported healthy business highlights for the quarter and the financial year ending on 31 March 2024.

Recently, chief executives of various SFBs reportedly met RBI and urged for a glide path to become universal banks, as most of them are eligible for such a conversion, having completed five years of operations.

Marico Gains 3%. Here's Why

Moving on to news from the FMCG sector, shares of Marico rose 3% on 5 April 2024 as investors rejoiced in the company's positive business updates for the fourth quarter ended March.

The company, in its Q4 update, stated that its international business has reverted to clocking double-digit constant currency growth. As for the Q4 consolidated revenue, the company expects it to trend upwards, albeit delivering a low single-digit growth and jump back into positive territory after three quarters.

In addition, Marico also expects domestic revenue growth to outpace volume growth in the coming quarters, along with a strong gross margin expansion on a year-on-year basis.

Meanwhile, the company also hinted towards gradual growth in its core categories in the times ahead.

As for key products, parachute coconut oil recorded low single-digit volume growth in Q4, while saffola oils' volumes grew in mid-single-digit. On the other hand, value-added hair oils had an optically weak quarter, declining on a high base.

The company is one of the leading global consumer goods companies operating in several categories, including hair care, skin care, edible oils, healthy foods, male grooming, and fabric care.

Some of its popular brands are Parachute, Saffola, Nihar, Livon, Set Wet, Beardo, Pure Sense, and Coco Soul.

Globus Spirit Forms JV with Caribbean Bear

Globus Spirits shares rose 4% to Rs 815 on 5 April 2024 after the company announced a joint venture with ANSA McAL, a Trinidad and Tobago headquartered brand for beer production and distribution in India, focusing on the Carib beer brand.

Globus also added that the JV aims to leverage the diverse expertise and resources of both companies to deliver high-quality products and expand market presence within India.

On 1 April, the company informed that it has commenced commercial production of additional capacity at two of its existing units at Singhbhum in Jharkhand and Burdwan in West Bengal.

With this expansion, the capacity of the units increased from 140KLPD (kilo litres per day) to 200KLPD at Jharkhand and from 240KLPD to 300KLPD at West Bengal. The additional capacity will be used for various products, including ENA and ethanol.

Globus Spirits is engaged in the manufacturing and distribution of various alcoholic beverages, sanitisers, animal feed, CO2, bioethanol, and bulk alcohol. Its product range includes whisky, brandy, vodka, rum, and gin, with distilleries located across Rajasthan, Haryana, West Bengal, and Bihar.

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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