Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex, Nifty Recover from Day's Low to End Flat; IndusInd Bank Jumps 4%
Mon, 2 May Closing

Indian share markets ended today's volatile session on a flat note.

Benchmark indices recovered from day's low to end flat as US futures indicated a positive start for Wall Street indices later today.

At the closing bell, the BSE Sensex fell 85 points, ending 0.2% lower.

Meanwhile, the NSE Nifty dipped 33 points, ending at 17,069.

IndusInd Bank, NTPC, and Power Grid were among the top gainers today.

Titan, Tech Mahindra, and Wipro were among the top losers today.

The broader markets witnessed profit booking as the BSE Mid Cap index ended 0.5% lower while the BSE Small Cap index dipped 0.9%.

Stocks in the capital goods, auto, and IT sectors witnessed most of the selling while buying was seen in FMCG and metal sector.

Shares of CRISIL and Amber Enterprises hit their 52-week high today.

Outside the home ground, Asian share markets posted mixed signals. At the close in Tokyo, the Nikkei 225 was down 0.1% while the Hang Seng rose significantly by 4%. The Shanghai Composite added 2.4%.

The SGX Nifty was trading 0.4% lower at the time of writing.

The rupee is trading at 76.46 against the US$.

--- Advertisement ---
Last Day to Access 'One Stock Crorepati' Opportunity

As you know, recently we went LIVE with our One Stock Crorepati MEGA Summit...

Around 10,000 readers like you had registered to attend this summit.

At the summit, they learned Richa Agarwal's secret blueprint of identifying potential 'crorepati' stocks.

Plus, they also discovered the details of one stock with crorepati potential...

If you missed this summit for some reason, then you can still get all the details by watching this special replay of the summit.

Watch Now (Available till 11:59pm Tonight)
------------------------------

Gold prices are currently trading down by 1.5% at Rs 50,986 per 10 grams while silver is also down 1.4% at Rs 62,650 per kg.

Speaking of gold, have a look at the chart below to see how gold has inched up ever since the Russia invaded Ukraine.

Gold Prices Inching up since Russia Invaded Ukraine

Watch this video to know whether gold really makes your portfolio crash-proof: Does Gold Make Your Portfolio Crash-Proof?

Coming to latest developments from the IPO space, Life Insurance Corp (LIC) IPO's anchor book saw strong demand today.

The much-awaited IPO of the state-run insurance behemoth opened today for anchor investors and is set to open on 4 May 2022 for retail subscription.

The government is selling over 220 m shares at a price band of Rs 902-949 apiece in the initial public offering which will close on 9 May.

Out of the 220 m shares offered for sale, around 59.3 m shares have been reserved for anchor investor portion.

Employee reservation portion is at 1.58 m while policyholder reservation is at 22.14 m.

According to Bloomberg, LIC got bids from large investors for twice the size of the anchor book. Singapore's GIC Pte and Norway's sovereign wealth fund are among the anchor investors.

--- Advertisement ---
"$2.5 Trillion Crypto Market Boom..."

A booming $2.5 trillion market...

Set to multiply by 100 times over the next decade...

With legendary investors like Warren Buffet, Elon Musk, and Peter Thiel pouring in billions of dollars all over...

Really Want to Miss It?
------------------------------

LIC will announce the anchor book of Rs 56 bn for the country's largest public offering of Rs 210 bn later today.

As per the final papers filed with the regulator, the allotment of shares to the demat account of bidders will happen by 16 May, post which LIC would be listed on or about 17 May.

We will keep you updated on the latest developments from this space. Stay tuned.

Moving on to news from the pharmaceuticals space, Solara Active Pharma Sciences was among the top buzzing stocks today.

Shares of Solara Active Pharma Sciences plunged 20% after the company announced the resignation of Rajender Rao Juvvadi from the position of Managing director and CEO (MD & CEO) and directorship of the company with effect from 28 April 2022.

To steer the reset strategy of the company Jitesh Devendra, former CEO and Managing Director (MD) of the company will return to Solara as MD.

The newly appointed MD said:

  • While there was a situational impact on Ibuprofen revenues, the order book trends for the business remained healthy.

    Our actions in strategic areas of developing the non-Ibuprofen product portfolio, CRAMS business, and new customer addition have yielded favorable results. 

In April 2021, Solara had announced to merge with Aurore Life Sciences (Aurore) and build Solara into India's second-largest pure-play API Company.

The merger was designed to further accelerate Solara's Global reach by combining the two companies.

Separately, the company's board has also decided not to go ahead with the proposed merger with Aurore, to enable the company's focus on its core competency and organic growth.

With today's fall, shares of Solara Active Pharma Sciences have declined over 29% in the past week.

Speaking of smallcap stocks, lead smallcap analyst at Equitymaster Richa Agarwal discusses what to expect from smallcap stocks in 2022, in her latest video.

Is it time to be cautious when it comes to smallcaps? Will smallcap stocks outperform in fiscal 2023?

Richa answers all these questions in the video below. Tune in to find out more:

Moving on to news from the chemicals space, Tata Chemicals share price jumped 10% today on the back of strong March quarter results.

The company reported a multi-fold jump in consolidated profit after tax (PAT) at Rs 4.7 bn for the March quarter as against Rs 0.3 bn reported in the same quarter last year.

The consolidated income from operations grew 32% during the quarter under review to Rs 34.8 bn from Rs 26.4 bn clocked in the corresponding quarter of the previous fiscal.

On a yearly basis, the firm's consolidated PAT zoomed 221% to Rs 14 bn in fiscal 2022 against Rs 4.4 bn in fiscal 2021.

The Tata Group firm operates through two business segments: Basic chemistry products and Specialty products.

Join Our YouTube Channel: Get Close to Our Editors and Stay Ahead of the Curve

Its basic chemistry products business is engaged in the manufacturing of inorganic chemistry products and serves various industries, such as glass, detergents, pharma, biscuit manufacturing, bakeries and other industries.

Tata Chemicals Managing Director and CEO, R Mukundan said:

  • While the global demand environment continues to be positive across our products and their applications, the supply-side environment, especially energy and input costs, remain at elevated levels along with logistic challenges that continue to be seen in the market.

According to the CEO, the company continues its long-term focus on excellence by leveraging digitalisation and sustainability.

To know more about the company, check out Tata Chemicals' financial factsheet and its latest quarterly results.

And 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!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Yellow Ad

Advertisement

Last Day to Access 'One Stock Crorepati' Opportunity

As you know, recently we went LIVE with our One Stock Crorepati MEGA Summit...

Around 10,000 readers like you had registered to attend this summit.

At the summit, they learned Richa Agarwal's secret blueprint of identifying potential 'crorepati' stocks.

Plus, they also discovered the details of one stock with crorepati potential...

If you missed this summit for some reason, then you can still get all the details by watching this special replay of the summit.

Learn more

Equitymaster requests your view! Post a comment on "Sensex, Nifty Recover from Day's Low to End Flat; IndusInd Bank Jumps 4%". Click here!

  

Stock Market Updates

Sensex Trades in Green; ITC & IndusInd Bank Top Gainers (Today's Market)

Jul 4, 2022 01:30 pm

The BSE Sensex is trading up by 149 points, while the NSE Nifty is trading up by 25 points.

Sensex Trades Marginally Lower; Tata Steel and TCS Top Losers (Today's Market)

Jul 4, 2022 10:30 am

Indian share markets are trading on a negative note today with the Sensex down by 229 points, while the Nifty is trading lower by 76 points.

SGX Nifty Trades Flat, Vedanta's Ambitious Semiconductor Dream, Maruti's Green Drive, and Top Buzzing Stocks Today (Today's Market)

Jul 4, 2022 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

The One Smallcap Stock I'll Recommend Now(Profit Hunter)

Jun 21, 2022

This aspect of investing has a very high weightage on your overall returns, but often gets ignored when winning stories are written.

5 Consistent Compounding Stocks Available at Discount. Time to Buy?(Views On News)

Jun 22, 2022

The good side of a market correction? Investors get consistent compounding stocks at a discount.

Auto Stocks are in the Fast Lane. Is it Time to Buy?(Profit Hunter)

Jun 23, 2022

The auto index is outperforming the Nifty by a mile. Have auto stocks finally bottomed out?

5 Indian Companies where Mutual Fund Holdings are Consistently Increasing(Views On News)

Jul 1, 2022

Mutual funds are buying shares at a time when FIIs are consistently selling. Here are 5 stocks where MF holdings has increased for the past 4 quarters.

Why Crude Oil Price is Falling(Views On News)

Jun 25, 2022

Global markets have become volatile, sending chills through the crude oil market.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jul 4, 2022 (Close)

MARKET STATS