Back
PremiumMarket Close Highlights : European stocks and US futures climbed after upbeat earnings from Nvidia Corp. reinforced optimism over the global artificial-intelligence boom.
Europe’s Stoxx 600 climbed 0.3%, pulled higher by a jump in the tech sector. Futures on the S&P 500 pointed to a 0.5% gain at the Wall Street open. US Treasuries were little changed after slipping on Wednesday when Federal Reserve minutes showed officials remained in no rush to cut interest rates. The dollar traded steady.
Equity markets are once again getting a boost from tech after a highly anticipated earnings report from Nvidia produced another bullish sales forecast. A Bloomberg gauge of Asian chipmakers jumped as much as 1.9%, its fourth day of gains.
“For anyone in doubt that growth in AI and the supply chain is fading, Nvidia’s results, tone, and guidance completely disprove that thesis," said Robert Alster, chief investment officer at Close Asset Management.
Traders in Europe will be watching data due later on services, manufacturing and consumer confidence.
In Asia, Korea unveiled a $19 billion package of incentives to bolster its chip sector, a boon to Samsung Electronics Co. and SK Hynix Inc. as they race to stay ahead in an increasingly competitive industry.
Nvidia’s earnings “gives more room for upside for Asian semiconductor stocks," said Rajat Agarwal, Asia strategist at Societe Generale SA in Bengaluru. “It elongates the growth story and allays any concerns of slowdown for Asian chipmakers."
At the same time, a gauge of tech shares listed in Hong Kong dropped amid a brewing price war between Alibaba Group Holding Ltd. and Tencent Holdings Ltd. over cloud services.
Gold extended declines after dropping 1.7% Wednesday following the Fed minutes. West Texas Intermediate also slipped, on track for a fourth daily loss. Copper prices fell on signs of weakening demand.
Sensex Today Live : Indian benchmark indices Sensex and Nifty had climbed to their respective all-time highs on Thursday, continuing their positive run for the second day running, The markets were spurred ahead by a rally on the Wall Street, coupled with increasing murmers of the incumbent political party retaining power in the 2024 Lok Sabha elections.
V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, "The Nifty hitting a new record is the market’s message of political stability after the elections. The rally is healthy since it is led by fairly valued largecaps".
Sensex, which had opened higher at 74,253.53, momentarily dipped to touch an intraday low of 74,158.35. But the 30-stock index rallied consistently through the day to surpass its previous all-time high of 75,124.28 it had touched on 9 April, and create a fresh record high at 75,499.91. The benchmark index closed at 75,418.04, up 1,196.98 points, or 1.61%.
Similarly, the Nifty 50, which had opened higher at 22,614.10, dipped slightly in the morning to touch a low of 22,577.45. But the frontline index sustained a consistent rally after that to climb to an all-time high of 22,993.60. At close, the Nifty 50 was at 22,967.65, up 369.85 points, or 1.64%.
Vinod Nair, Head of Research, Geojit Financial Services, said about the reasons for the day's rally: "The headline index posted a record gain, with leading sectors such as banking and automotive outperforming. The RBI's record dividend is akin to an indirect rate cut and is expected to reduce bond yields. The broader market remained buoyant, aided by the composite HSBC PMI data for May, which indicated strong expansion. Early onset of southwest monsoon has provided a boost to the domestic market, which was underperforming in the last 2 months to other emerging markets".
Only three stocks, Sun Pharma, Power Grid Corp., and NTPC, closed in the red on the BSE Sensex. Mahindra & Mahindra, Larsen & Toubro, Axis Bank, Maruti Suzuki India, and UltraTech Cement, were the top gainers for the day.
Meanwhile, on the Nifty 50, only six stocks, Sun Pharma, Power Grid Corp., Hindalco Industries, Coal India, NTPC, and Tata Consumer Products, out of the 50 closed in the red. Adani Enterprise, Adani Ports & SEZ, Maruti Suzuki India, Eicher Motors, and Axis Bank were the top gainers for the day.
The broader market indices closed higher, with the BSE MidCap index gaining 0.58% and the BSE SmallCap gaining 0.27%.
Barring Healthcare and Pharma indices, which were closed down 0.79% and 0.52% respectively, all othe sectoral indices closed in the green.
The Bank and Auto indices had rallied more than 2% at close, while Financial Services, IT, Realty, Consumer Durables, and Oil & Gas indices had climbed more than 1%.
FMCG, Media and Metal indices also closed in the green.
In macroeconomic news, HSBC’s Flash India Composite PMI Output Index reading increased to 61.7 in May from April’s final figure of 61.5, while HSBC Flash India Services PMI Business Activity Index rose to 61.4 in May from 60.8 in April. The overall HSBC Flash India Manufacturing PMI decreased slightly to 58.4 in May from 58.8 in April.
Meanwhile, in corporate news, Taj GVK Hotels & Resorts reported Q4 net profit at ₹25.85 crore, compared to ₹14.44 crore in the year ago period, while its Revenue from operations in Q4 stood at ₹115.84 crore, compared to ₹103.62 crores in the year ago period.
Indian Metals & Ferro Alloys posted a 35% YoY increase in Q4 net profit at ₹86.3 crore, compared to ₹64 crore in the year ago period. Revenue for the company was up 10% at ₹700.6 crore, compared to ₹637 crore in the year ago period.
FMCG gaint ITC posted Q4 net profit at ₹5,020.2 crore, down 1.4% YoY compared to ₹5,572.07 crore in the year ago period, while the diversified conglomerate's revenue stood at ₹17,752.87 crore, up 1.4% YoY compared to ₹17,651.85 crore in the year ago period.
Sensex Today Live : Barring Healthcare and Pharma indices, which were down 0.77% and 0.55% respectively, all othe sectoral indices were trading in the green.
The Bank and Auto indices had rallied more than 2%, while Financial Services, IT, Realty, Consumer Durables, and Oil & Gas indices had climbed more than 1%.
FMCG, Media and Metal indices were also trading in the green.
Sensex Today Live : The broader market indices had climbed higher, with the BSE MidCap index gaining 0.57% and the BSE SmallCap gaining 0.27%.
Sensex Today Live : Only Seven stocks, Sun Pharma, Power Grid Corp., Hindalco Industries, Coal India, NTPC, Tata Consumer Products, and JSW Steel, out of the 50 on the Nifty 50 were trading in the red, while Adani Enterprise, Adani Ports & SEZ, Larsen & Toubro, Maruti Suzuki India, and Axis Bank were the top gainers.
Sensex Today Live : Only four stocks, Sun Pharma, Power Grid Corp., NTPC, and JSW Steel, were trading in the red, while Larsen & Toubro, Mahindra & Mahindra, Maruti Suzuki India, Axis Bank, and UltraTech Cement, were the top gainers.
Sensex Today Live : Indian benchmark indices Sensex and Nifty had climbed to their respective all-time highs on Thursday, spurred by a rally on the Wall Street, coupled with increasing murmers of the incumbent political party retaining power in the 2024 Lok Sabha elections.
At 3 pm, Sensex was up 1,041.09 points, or 1.40%, at 75,262.15, and Nifty was up 316.85 points, or 1.4%, at 22,914.65.
Sensex Today Live : Revenue from operations stood at ₹831.51 crore, compared to ₹748.11 crore in the year ago period
Profit before tax stood at ₹45.05 crore, compared to ₹26.33 crore in the year ago period
Net profit stood at ₹30.43 crore, compared to ₹18.28 crore in the year ago period
Sensex Today Live : PCBL post Q4 consolidated net profit at ₹110.95 crore, compared to ₹102.28 crore
Revenue from operations at ₹1,928.78 crore, compared to ₹1,373.81 crore in the year ago period
Profit before tax stood at ₹149.33 crore, compared to ₹148.29 crore in the year ago period
Sensex Today Live : Revenue stood at ₹17,752.87 crore, up 1.4% YoY compared to ₹17,651.85 crore in the year ago period
Net profit at ₹5020.2 crore, compared to ₹5,572.07 crore in the year ago period
Sensex Today Live : Net Profit stood at ₹86.3 crore, compared to ₹64 crore in the year ago period
Revenue was up 10% at ₹700.6 crore, compared to ₹637 crore in the year ago period
EBITDA was down 24.6% at ₹105 crore, compared to ₹139 crore in the year ago period
Sensex Today Live : Indian benchmark indices were climbing higher, with the Nifty 50 surpassing its previous record high of 22,784 to climb above 22,800, on Thursday.
At 2 pm, Sensex was up 869.86 points, or 1.17%, at 75,090.92, and Nifty was up 263.80 points, or 1.17%, at 22,861.60.
Sensex Today Live : Revenue from operations stood at ₹384.88 crore compared to ₹325.47 crore in the year ago period
Profit before tax stood at ₹72.71 crore, compared to ₹65.41 crore in the year ago period
Net Profit stood at ₹54.41 crore, compared to ₹48.68 crore in the year ago period
Sensex Today Live : Quess Corp today informed the exchanges that it has received an income tax refund of ₹107.24 crore for FY19.
The company, in an exchange filing, said, "The Company has received today Income Tax Refund including interest aggregating to Rs. 107.24 crores for the Financial Year 2018-19".
Sensex Today Live : Revenue from operations in Q4 stood at ₹115.84 crore, compared to ₹103.62 crores in the year ago period
Profit before tax stood at ₹35.10 crore, compared to ₹20.77 crore in the year ago period
Profit after tax stood at ₹25.85 crore, compared to ₹14.44 crore in the year ago period
Sensex Today Live : SpiceJet today announced the upgrade of its daily Delhi-Bangkok flight to a wide-body Airbus A340, replacing the narrow-body Boeing 737.
This enhancement will increase the seating capacity to 324 passengers per flight on the route, catering to the high demand during the holiday season, the company said in an exchange filing.
The upgraded service will commence on May 31 and continue until June 20, 2024, it added.
Sensex Today Live : Muthoot Finance today approved an interim dividend of ₹24 for FY24.
In an exchange filing, the company said, "Muthoot Finance Limited at their meeting held today at the registered office of the Company has considered and approved payment of an interim dividend of Rs. 24 per equity share (240%) for the Financial Year 2023-24".
Sensex Today Live : Indian benchmark indices were climbing higher, with the Nifty 50 surpassing its previous record high of 22,784 to climb above 22,800, on Thursday.
At 1 pm, Sensex was up 805.44 points, or 1.09%, at 75,026.50, and Nifty was up 246.65 points, or 1.09%, at 22,844.45.
Sensex Today Live : Total revenue from operations stood at ₹63.73 crore, compared to ₹29.31 crore in the year ago period
Profit before tax stood at ₹32.61 crore, compared to ₹2.72 crore in the year ago period
Sensex Today Live : Nifty 50 climbed to a fresh record high of 22,831.90. Its previous record high was at 22,794.70.
The benchmark index was trading up 234.10 points, or 1.04% higher.
Sensex Today Live : Revenue from operations stood at ₹9.97 crore, compared to 10.34 crore in the year ago period.
Profit before tax stood at ₹25.99 lakh, compared to ₹74.95 lakh in the year ago period
Sensex Today Live : Revenue from operations at ₹263.05 crore, compared to ₹203.66 crore in the year ago period
Profit before tax at ₹76.03 crore compared to ₹58.27 crore in the year ago period
Sensex Today Live : The Bank, FS, and IT indices were all up more than 1%, while Auto, Realty, Consumer Durables, and Oil & Gas indices were also trading in the green.
Meanwhile, the Metal index was down more than 1%, followed by Healthcare, Pharma, Media and FMCG, that were trading in the red.
Sensex Today Live : The broader market indices were trading higher, with the BSE SmallCap climbing 0.24% and the BSE MidCap gaining 0.42%.
Sensex Today Live : 11 out of the 50 stocks on the Nifty 50 were trading in the red. Adani Enterprises, Axis Bank, Larsen & Toubro, Eicher Motors, and SBI were the top gainers, while Power Grid Corp., Sun Pharma, Hindalco Industries, Coal India, and Grasim Industries, were the top drags.
Sensex Today Live : Eight of the 30 stocks on the BSE Sensex were trading in the red. Power Grid Corp., Sun Pharma, JSW Steel, NTPC, and Tata Steel, were the top drags, while Axis Bank, Larsen & Toubro, SBI, Infosys, and Wipro, were the top gainers.
Sensex Today Live : Indian benchmark indices were climbing higher on Thursday.
At 12 pm, Sensex was up 548.91 points, or 0.74%, at 74,769.97, and Nifty was up 163.05 points, or 0.72%, at 22,760.85.
Sensex Today Live : Aether Industries announced today that the Gujarat Pollution Control Board has revoked the closure order for the company's manufacturing facility that had been issued after a fire incident on November 2023.
The company added that operations would start at the facilty at 75% capacity after adhering to stipulated conditions.
Sensex Today Live : KPI Green Energy today announced that the company will split its stock in the ratio of 1:2. In an exchange filing, the company said, "the Board of Directors of KPI Green Energy at its meeting held today... Considered, approved and recommended ordinary resolution through postal ballot for alteration of the capital of the Company by sub-division/split of existing equity share of the Company from One equity share having face value of Rs. 10 each, fully paid-up, into 2 equity shares having face value of Rs. 5 each, fully paid-up".
The company added that the record date of the split will be decided after obtaining approval of the shareholders and will be intimated in due course.
Sensex Today Live : HSBC’s Flash India Composite PMI Output Index increased to 61.7 in May from April’s final figure of 61.5.
HSBC Flash India Services PMI Business Activity Index rose to 61.4 in May from 60.8 in April.
HSBC Flash India Manufacturing PMI Output Index dipped to 62.4 in May from 63.0 in April.
The overall HSBC Flash India Manufacturing PMI also decreased slightly to 58.4 in May from 58.8 in April.
Sensex Today Live : Indian benchmark indices were climbing higher on Thursday.
At 11 am, Sensex was up 341.75 points, or 0.46%, at 74,561.81, and Nifty was up 95.60 points, or 0.42%, at 22,693.40.
Sensex Today Live : Piramal Pharma today announced that the US FDA has issued an Establishment Inspection Report after inspecting its manufacturing facility located in Lexington, USA.
The company said, "US FDA has issued an Establishment Inspection Report (EIR) for the said manufacturing facility and the inspection has now been successfully closed by the US FDA".
Sensex Today Live : Ashoka Buildcon reported a profit after tax for Q4FY24 at ₹268.5 crore, a 38% YoY decrease from Q4FY23’s ₹435.1 crore. Profit after tax for FY24 was ₹442.8 crore, a 34% decrease from FY23’s ₹671.3 crore.
Total income for Q4FY24 stood at ₹2,532.5 crore, a 22% increase from Q4FY23’s ₹2,067.9 crore.
EBITDA for Q4FY24 was at ₹218.6 crore, a 25% increase from Q4FY23’s ₹174.4 crore.
EBITDA margin for Q4FY24 was 8.6%, compared to 8.4% in Q4FY23.
The profit before tax (after exceptional gain) for Q4FY24 was ₹343.2 crore, a 25% decrease from Q4FY23’s ₹458.2 crore.
Sensex Today Live : JSW Infrastructure today announced that it has signed a non-binding Memorandum of Understanding (MOU) with A.P. Møller Capital, "to explore and evaluate the possibility of collaborating and cooperating with each other to pursue value accretive organic and inorganic opportunities in the port and related infrastructure sector".
The company said, the endeavour is to work together to form a platform in the form of an incorporated joint-venture, and employ the joint expertise and resources to acquire, develop, finance, and operate a portfolio of assets in the ports and logistics infrastructure related sectors in India.
The company said the intent is for each party to invest significantly in the proposed JV, subject to mutually agreeing terms in the future. The Platform will be held 51% by the JSW Infra and 49% by A.P. Møller Capital.
Sensex Today Live : Across sectors, Pharma and Healthcare indices were the top sectoral losers, followed by Metal, Media and FMCG.
All other sectoral indices were green, with PSU Bank emerging as the top gainer.
Sensex Today Live : The broader market indices were trading in the green, with the BSE SmallCap index gaining 0.39% and the BSE MidCap index climbing 0.41%.
Sensex Today Live : 19 of the 50 stocks on the Nifty 50 index were trading in the red. Sun Pharma, Power Grid Corp., Hindalco Industries, Britannia Industries, and JSW Steel, were the top drags, while Bharti Airtel, Larsen & Toubro, Axis Bank, ONGC and Eicher Motors, were the top gainers.
Sensex Today Live : Nine out of the 30 stocks on the BSE Sensex were trading in the red. Sun Pharma, Power Grid Corp., JSW Steel, NTPC, and Tata Steel, were the top drags, while Larsen & Toubro, Bharti Airtel, Axis Bank, Wipro, and SBI were the top gainers.
Sensex Today Live : Indian benchmark indices had climbed higher on Thursday.
At 10 am, Sensex was up 279.36 points, or 0.38%, at 74,500.42, and Nifty was up 83.30 points, or 0.37%, at 22,681.10.
Sensex Today Live : The company reported a 11.33% YoY decrease in net sales for March 2024, down to ₹0.82 crore from Rs. 0.92 crore in March 2023. The quarterly net loss improved by 66.17% to Rs. 0.06 crore, and EBITDA improved by 100% to Rs. 0.00 crore.
Sensex Today Live : The company saw a 18.01% YoY increase in net sales for March 2024, up to ₹119.23 crore from Rs. 101.03 crore in March 2023. The quarterly net profit skyrocketed by 1047.21% to Rs. 7.95 crore, and EBITDA increased by 103.79% to Rs. 16.69 crore.
Sensex Today Live : The company saw a 9.57% YoY increase in net sales for March 2024, up to ₹147.86 crore from Rs. 134.95 crore in March 2023. The quarterly net profit rose by 10.25% to Rs. 17.76 crore, and EBITDA increased by 21.55% to Rs. 27.41 crore.
Sensex Today Live : The company reported a 13.43% YoY increase in net sales for March 2024, up to ₹390.76 crore from Rs. 344.48 crore in March 2023. The quarterly net profit rose by 120% to Rs. 25.94 crore, and EBITDA increased by 141.77% to Rs. 43.54 crore.
Sensex Today Live : The company saw a 19.96% YoY increase in net sales for March 2024, up to ₹2,431.97 crore from Rs. 2,027.27 crore in March 2023. The quarterly net profit rose by 14.78% to Rs. 27.48 crore, and EBITDA increased by 4.96% to Rs. 45.74 crore.
Sensex Today Live : The company reported a 14.46% YoY decrease in net sales for March 2024, down to ₹740.73 crore from Rs. 865.95 crore in March 2023. The quarterly net profit also dropped by 19.24% to Rs. 31.07 crore, and EBITDA decreased by 8.63% to Rs. 101.28 crore.
Sensex Today Live : The company saw a 4.81% YoY decrease in net sales for March 2024, down to ₹939.24 crore from Rs. 986.68 crore in March 2023. The quarterly net profit dropped by 58.8% to Rs. 9.14 crore, and EBITDA decreased by 27.36% to Rs. 38.39 crore.
Sensex Today Live : The company reported a 1.49% YoY increase in net sales for March 2024, up to ₹913.96 crore from Rs. 900.58 crore in March 2023. The quarterly net profit skyrocketed by 2,307.36% to Rs. 10,665.75 crore, and EBITDA increased by 1.04% to ₹287.80 crore. The EPS also increased to Rs. 19.86 in March 2024 from Rs. 0.90 in March 2023.
Sensex Today Live : The company saw a 73.1% YoY surge in profit for Q4, up to ₹69.6 crore from ₹40.2 crore. Revenue jumped by 30% to ₹1,076.6 crore. The board approved a stock split in the ratio of 1:10.
Sensex Today Live : The company reported a 32.3% YoY drop in profit for Q4, down to ₹65.8 crore from ₹97.3 crore. The company also reported an exceptional loss of ₹51.86 crore. However, revenue grew by 7% to ₹251.3 crore. Tejpreet Singh Chopra resigned as Chairman and Samir Chaturvedi was appointed as the new Chairman.
Sensex Today Live : The company saw a 102% YoY jump in profit for Q4, up to ₹111.6 crore from ₹55.3 crore in the year ago period. Revenue increased significantly by 69% to ₹1,015.7 crore.
Sensex Today Live : The bank saw a significant 91.3% YoY drop in profit for Q4, down to ₹3.3 crore from ₹38.2 crore. Net interest income fell by 8.9% to ₹104.86 crore. The bank reported an operating loss of ₹17.44 crore and a provisions write-back of ₹28.15 crore. Tax expenses were ₹7.4 crore. Gross NPA dropped to 4.05% and Net NPA declined to 1.25%.
