Sensex Trades Marginally Lower; Axis Bank & Infosys Top Losers

Fri, 29 May 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

Share markets in India are presently trading on a cautious note, ahead of the release of domestic GDP data.

Reportedly, GDP data is expected to show India's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment.

Further, heightened US-China tensions weakened sentiment.

The BSE Sensex is trading down by 142 points while the NSE Nifty is trading down by 26 points.

The BSE Mid Cap index is trading up by 1%, while the BSE Small Cap index is trading up by 1.2%.

Sectoral indices are trading on a mixed note with stocks in the banking sector and IT sector witnessing selling pressure, while healthcare stocks are trading in green.

Gold prices are trading up by 0.3% at Rs 46,550 per 10 grams.

The rupee is trading at 75.63 against the US$.

Market participants are tracking 3M India share price, Voltas share price and Jubilant Life Science share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

Apart from the above, market participants are also tracking Wipro share price as the company appointed Thierry Delaporte as its chief executive officer and managing director.

In news from the automobile sector, shares of TVS Motor Company slipped over 3% in early trade today after the company reported a 43.3% decline in its consolidated net profit to Rs 818.5 million for Q4FY20.

The two-wheeler major's total income declined 16.9% to Rs 41.3 billion.

The company reported profit before tax of Rs 1,148.3 million as compared to Rs 2,171.9 million during Q4FY19.

The company reported total sales of 32.63 lakh units in 2019-20 as against 39.14 lakh units in 2018-19.

During the fourth quarter, the company's overall two-wheeler and three-wheeler sales, including exports, stood at 6.33 lakh units as compared with 9.07 lakh units registered in the quarter ended March 2019.

In a regulatory filing, the company said that it had successfully transitioned to BS-VI and almost 85% of the vehicles it dispatched during the quarter were BS VI products.

In other news, Ceat share price is witnessing buying interest today.

Shares of the company gained 6% after the tyre manufacturer's standalone operating performance improved during the March quarter despite subdued demand amid Covid-19 outbreak.

Ceat reported a 19.6% decline in its consolidated net profit at Rs 517.2 million for Q4FY20, as against a net profit of Rs 643.2 million in the year ago period.

The company's revenue from operations declined to Rs 15.7 billion during the quarter under review.

For the financial year FY19-20, revenue declined to Rs 67.8 billion as against Rs 69.8 billion in 2018-19.

On consolidated basis, the company's EBITDA for FY20 was Rs 7.4 billion, up 12% compared to previous fiscal, while EBITDA margin expanded by 340 bps YoY to 12.9%.

Buying interest is also seen as the company on May 27 said that it has partially resumed operation at various plants in Mumbai.

To know more about the company, you can read Ceat's latest result analysis on our website.

Moving on to news from the commodity space, crude oil prices edged lower today after US inventory data showed lacklustre fuel demand in the world's largest oil consumer while worsening US-China tensions weighed on global financial markets.

Thursday's data from the Energy Information Administration (EIA) showed that US crude oil and distillate inventories rose sharply last week.

Reports state that fuel demand remained slack even as various states lifted travel restrictions they had imposed to curb the coronavirus pandemic.

At the time of writing, Brent crude was trading down by 1% at US$ 34.93 a barrel. Meanwhile, US West Texas Intermediate crude was trading down by 1.5% at US$ 33.20 a barrel.

Despite today's loss, both contracts are set for a fifth weekly gain, helped by production cuts and optimism about demand recovery in other countries.

Oil traders are now focusing on the outcome of talks on output cuts between members of OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, in the second week of June.

As per reports, Saudi Arabia and some OPEC members are considering extending record production cuts of 9.7 million barrels per day beyond June but have yet to win support from Russia.

Note that crude oil prices have rebounded in recent weeks on anticipation of improved demand, after the coronavirus pandemic sapped worldwide consumption by roughly 30%.

Speaking of crude oil, on a year-to-date (YTD) basis, crude oil prices are down about 42%.

Crude Oil Prices Fall Sharply

Crude oil witnessed selling during the start of the year due to oversupply concerns amid subdued demand.

Prices crashed further in March in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

In April, crude oil futures crashed and briefly went to negative prices, implying that investors would need to pay buyers to take delivery of crude oil amid dwindling storage space.

What effects crude oil prices have on Indian stocks markets and the Indian economy remains to be seen. Meanwhile we will keep you updated on the latest developments from this space.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers