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

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

  • MyStocks


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

Find Out

How to Find One Stock with Crorepati Potential? >> READ MORE

Sensex Trades Marginally Lower; HUL, Infosys & Tech Mahindra Top Losers
Tue, 24 May 10:30 am

Sensex Trades Marginally Lower; HUL, Infosys & Tech Mahindra Top Losers

Asian share markets are lower today as relief rally hopes on Wall Street quickly soured by a slide in US stock futures.

The Nikkei is down 0.6% while the Shanghai Composite is down 1.1%. The Hang Seng fell 1.5%.

In US stock markets, Wall Street indices ended higher on Monday as gains from banks and a rebound in market-leading tech shares supported a broad-based rally.

The Dow Jones rallied 2% while the Nasdaq Composite ended higher by 1.6%.

Note that US stocks have been falling continuously and what followed last week was Wall Street's longest streak of weekly declines since the dotcom bust more than 20 years ago.

Back home, Indian share markets are trading on a negative note.

Market participants are tracking shares of Adani Ports, Grasim, Info Edge and Metropolis Healthcare as these companies are scheduled to announce their Q4 results later today.

Meanwhile, the Rs 8.1 bn initial public offering (IPO) of Aether Industries opened for subscription today.

--- Advertisement ---
A One Stock Gift in 1990 Turns into Rs 130 Crores

In 2017, Ravi made headlines by calling a leading business news channel with a surprising announcement - his grandfather had left him 20,000 shares of only one stock.

And on the day of his call - these shares were worth Rs 130 crore.

Can you guess which is this company?

It's MRF.

Ravi's story is one of the amazing stories of becoming Crorepati from a single stock.

But the question is, how to find that one stock with crorepati potential?

To find the answer to this million-dollar question, join our 'One Stock Crorepati' MEGA summit on 30th June, where we will reveal details of what we call a potential 'crorepati' stock...

Click here for full details...

The specialty chemicals manufacturer will sell its shares in the range of Rs 610-642 apiece and the issue is open till 26 May.

Delhivery made its debut on the bourses today and rose 10% after making a muted listing.

The IPO GMP was signaling a discount of Rs 5 in the unlisted market.

The BSE Sensex is trading down by 201 points. Meanwhile, the NSE Nifty is trading lower by 67 points.

Power Grid and M&M are among the top gainers today. HUL, on the other hand, is among the top losers today.

The BSE Mid Cap index is down 0.6%. The BSE Small Cap index is trading lower by 0.4%.

Sectoral indices are trading mixed with stocks in the IT sector and FMCG sector witnessing most of the selling.

Banking stocks and metal stocks, on the other hand, are trading in green.

Metal stocks sighed a relief and rose today following sharp declines in the previous trading session. Yesterday, Tata Steel share price slumped over 12% after the government introduced changes in the customs duties on steel.

Ever since Tata Steel reported Q4 results, the company has been on a downward trajectory.

Shares of Adani Power and KSB hit their 52-week highs today.

The rupee is trading at 77.56 against the US$.

Crude oil prices eased today as concerns over a possible recession and weaker consumption outweighed an expectation of tight global supply and a pick-up in fuel demand in China after Beijing's promises of stimulus.

Gold prices are trading up by 0.2% at Rs 50,995 per 10 grams.

Meanwhile, silver prices are trading up by 0.1% at Rs 61,315 per kg.

Speaking of silver, India's #1 trader Vijay Bhambwani talks about silver and why the silver bull market will continue, in his latest video for Fast Profits Daily.

In latest developments from the mutual funds space, the market regulator on Monday allowed mutual funds to launch equity-linked savings schemes (ELSS) as passively managed funds as well.

With this, mutual fund investors will soon get one more option to make tax-saving investments.

--- 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...

Would You Really Want to Miss It?

The regulator wants such a scheme to be based on an index that comprises the top 250 companies in terms of market capitalisation.

There's a crux, however. A mutual fund can have either an actively managed ELSS scheme or a passively managed, but not both.

The markets regulator also laid down guidelines on how debt passive funds, exchange traded funds (ETFs) and index funds should be managed.

To ensure liquidity of the ETFs on the stocks, the mutual funds would be required to appoint at least two market makers, who are members of the stock exchanges.

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

Speaking of mutual funds, have a look at the chart below which shows the inflows into mutual fund equity investments for the past couple of months.

April 2022 was the 14th straight month of inflows.

This just shows that despite the hawkish US Fed stance, rising inflation, crude oil concerns and the Russia-Ukraine war, retail investors' confidence in the India growth story remains intact.

EXPOSED: The Shocking Truth Behind Today's Hottest Investment Opportunity

Moving on to developments from the corporate earnings, Zomato is among the top buzzing stocks today.

Zomato on Monday said its consolidated net loss for the quarter ended March widened to Rs 3.6 bn compared to Rs 1.3 bn in the corresponding quarter last year.

The food delivery platform's revenue from operations came in at Rs 12.1 bn, up 75% compared to Rs 6.9 bn in the same quarter last year.

In an exchange filing, Zomato said it expects adjusted revenue growth to accelerate to double digits in the next quarter and the adjusted EBITDA losses to also come down meaningfully.

Zomato said it launched in 300+ new cities in the quarter under review, taking its presence to 1,000+ towns and cities across India.

For the fiscal year 2022, losses came in at Rs 12.2 bn, compared to Rs 8.2 bn in the previous year. Revenues increased to Rs 41.9 bn from Rs 19.9 bn.

Zomato share price is currently trading up by 14.6%.

To know more about the company, check out Zomato's financial factsheet and Zomato's 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...

Equitymaster requests your view! Post a comment on "Sensex Trades Marginally Lower; HUL, Infosys & Tech Mahindra Top Losers". Click here!


Stock Market Updates

Sensex Gains 500 Points, Nifty Tops 15,700; IndusInd Bank, HUL & Bharti Airtel Top Gainers (Today's Market)

Jun 24, 2022 10:30 am

Indian share markets are trading on a strong note today with the Sensex up by 488 points, while the Nifty is trading higher by 157 points.

SGX Nifty Up 106 Points, Reliance Industries' Green Hydrogen Push, Titan Eyes Strong Growth, and Top Buzzing Stocks Today (Today's Market)

Jun 24, 2022 Pre-Open

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

View More Indian Share Market News

Most Popular

4 Sectors to Watch for Future Multibagger Stocks(Views On News)

Jun 17, 2022

With India's economic recovery accelerating, these sectors are likely to give multibagger returns in the future.

Why Tata Power Share Price is Falling(Views On News)

Jun 14, 2022

Here's why shares of Tata Power have fallen in recent days.

Is it Time to Start Buying Stocks Selectively?(Profit Hunter)

Jun 16, 2022

Some sectors have corrected by 50%. Do they merit a look?

Best Monopoly Stocks to Own in 2022(Views On News)

Jun 18, 2022

Constant product innovation, latest technology, strong supply chain etc can all help companies enjoy monopoly like fortunes.

When Will the Stock Market Recover?(Views On News)

Jun 15, 2022

This is how you can tell the market is going to recover.


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


Jun 24, 2022 (Close)