As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 188.50 points or 0.25% to 74,482.70. The Nifty 50 index fell 38.55 points or 0.17% to 22,604.85.The Bank Nifty hit a record high of 49,974.75 in mid-afternoon trade.

In the broader market, the S&P BSE Mid-Cap index rose 0.49% and the S&P BSE Small-Cap index added 0.10%.

The market breadth was negative. On the BSE, 1,820 shares rose and 1,993 shares fell. A total of 137 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.19% to 12.87.

The stock exchanges will remain closed on Wednesday, 1 May 2024 on account of Maharashtra Day.

Listing:

Shares of JNK India were ended at Rs 688.40 on the BSE, representing a premium of 67.22% as compared with the issue price of Rs 415.

The scrip was listed at Rs 620, exhibiting a premium of 49.4% to the issue price.

So far, the stock has hit a high of 712 and a low of 620 On the BSE, over 14.37 lakh shares of the company were traded in the counter.

Buzzing index:

The IT index fell 1.13% to 33,200.95. The index declined 1.38% in the two trading session.

Tech Mahindra Ltd (down 2%), Coforge Ltd (down 1.62%), L&T Technology Services Ltd (down 1.58%), HCL Technologies Ltd (down 1.41%) and Tata Consultancy Services Ltd (down 1.2%) were the top losers.

Among the other losers were Infosys Ltd (down 0.92%), LTIMindtree Ltd (down 0.74%), Mphasis Ltd (down 0.68%), Persistent Systems Ltd (down 0.17%) and Wipro Ltd (down 0.12%).

Stocks in Spotlight:

Vesuvius India rallied 5.63% after the company reported a 58.7% jump in net profit to Rs 68.78 crore in Q1 CY24 from Rs 43.35 crore in Q1 CY23. Net sales increased by 23.9% YoY to Rs 453.09 crore during the period under review.

UCO Bank fell 2.14%. The private lender’s standalone net profit declined 9.54% to Rs 525.77 crore in Q4 FY24 as compared to Rs 581.24 crore reported in Q4 FY23. However, total income grew 17.45% to Rs 6,984.61 crore in the quarter ended 31 March 2024.

Birlasoft slipped 3.74%. The company said that its consolidated net profit jumped 11.82% to Rs 180.08 crore in Q4 FY24 as compared with Rs 161.05 crore in Q3 FY24. Revenue from operations rose 1.46% QoQ to Rs 1,362.54 crore in the quarter ended 31 March 2024.

Gillette India surged 8.42%. The company reported 3.5% decline in net profit to Rs 99.09 crore in the third quarter ended 31 march 2024 as against Rs 102.70 crore recorded in the same period a year ago. Revenue from operations grew by 10% year on year to Rs 680.74 crore in the quarter ended 31 March 2024.

Newgen Software Technologies surged 7.40% after the company’s consolidated net profit jumped 54.02% to Rs 105.27 crore on 15.95% rise in revenue from operation to Rs 375.27 crore in Q4 FY24 over Q3 FY24.

Can Fin Homes advanced 2.48% after the housing finance firm reported 26.07% rise in net profit to Rs 209.03 crore on 21.37% increase in total income from operations to Rs 927.64 crore in Q4 FY24 as compared with Q4 FY23.

Global Markets:

Most European stocks traded lower on Tuesday after Euro Zone inflation was flat at 2.4%. Market expectation is mounting for the European Central Bank to start cutting interest rates at its next monetary policy meeting on June 6.

Asian market ended higher. China’s factory activity climbed faster than expected in April, with the official purchasing managers’ index coming at 50.4. Factory activity expansion was lower than the 50.8 seen in March.

US stocks closed higher Monday, lifted by Tesla, while traders geared up for a week dominated by corporate earnings and a Federal Reserve meeting.