Market Commentary     08-May-24
Mid-Session
Nifty slides below 22,200; broader market outperforms
The headline equity benchmarks traded with limited losses in the morning trade. The Nifty slipped below 22,200 level. Oil & gas shares advanced after declining in the past three consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex slipped 418.44 points or 0.57% to 73,093.41. The Nifty 50 index lost 107.95 points or 0.48% to 22,194.55.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.03% and the S&P BSE Small-Cap index added 0.16%.

The market breadth was positive. On the BSE, 1,883 shares rose and 1,524 shares fell. A total of 162 shares were unchanged.

Results Today :

Larsen & Toubro (down 1.11%), Hero MotoCorp (down 0.66%), Canara Bank (up 1.66%), Tata Power Company (up 0.72%), TVS Motor Company (down 2.61%), Bajaj Consumer Care (down 0.21%), Balaji Amines (down 0.67%), Bharat Forge (down 2.15%), ESAF Small Finance Bank (up 0.28%), Greaves Cotton (up 0.84%), Gujarat State Petronet (up 0.14%), Home First Finance Company India (up 0.89%), India Shelter Finance Corporation (down 1.13%), Kalpataru Projects International (up 0.68%), Piramal Enterprises (down 1.31%), Sula Vineyards (up 1.41%), Vijaya Diagnostic Centre (down 0.31%) and Westlife Foodworld (down 1.41%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty Oil & Gas index gained 1.45% to 11,548.50. The index fell 4.54% in past three consecutive trading sessions.

Indraprastha Gas (up 6.64%), Mahanagar Gas (up 3.39%), GAIL (India) (up 3.14%), Gujarat Gas (up 2.66%), Hindustan Petroleum Corporation (up 2.31%), Bharat Petroleum Corporation (up 1.84%), Indian Oil Corporation (up 1.75%), Petronet LNG (up 1.48%), Oil & Natural Gas Corpn (up 1.35%) and Castrol India (up 1.24%) advanced.

Stocks in Spotlight:

Dixon Technologies (India) rose 1.33% after the company announced that its subsidiary Dixon Electro Appliances (DEAPL) has entered into an agreement with Nokia for development and manufacturing of Telecom products.

United Breweries declined 2.42%. The company reported consolidated net profit of Rs 81.55 crore in Q4 FY24, steeply higher than Rs 9.87 crore posted in corresponding quarter last year. Revenue from operations (excluding excise duty) jumped 20% to Rs 2,133.38 crore in Q4 FY24 as compared with Rs 1,765.88 crore in Q4 FY23.

Previous News
  United Breweries Ltd down for fifth straight session
 ( Hot Pursuit - 15-Jul-24   13:35 )
  Titan Company Ltd Falls 3.09%
 ( Hot Pursuit - 08-Jul-24   09:31 )
  United Breweries to convene board meeting
 ( Corporate News - 26-Jun-24   17:36 )
  United Breweries Ltd eases for fifth straight session
 ( Hot Pursuit - 18-Jun-24   13:35 )
  Havells India Ltd Spurts 1.8%
 ( Hot Pursuit - 14-Jun-24   09:30 )
  Dixon Tech rises on inking pact with HKC Corp
 ( Hot Pursuit - 07-Jun-24   11:37 )
  Dixon updates on proposed JV with HKC Corporation
 ( Corporate News - 06-Jun-24   15:39 )
  United Breweries Ltd spurts 1.13%, gains for five straight sessions
 ( Hot Pursuit - 06-Jun-24   13:00 )
  Dixon Technologies allots 13,500 equity shares under ESOP
 ( Corporate News - 22-May-24   19:54 )
  Dixon Technologies inks MoU with Acerpure
 ( Hot Pursuit - 17-May-24   08:18 )
  Dixon Tech gains as Q4 PAT jumps 21% YoY to Rs 97 cr
 ( Hot Pursuit - 16-May-24   10:51 )
Other Stories
  Indices trade with modest gains; realty shares advance
  15-Jul-24   14:36
  Market at day's high; European mkt opens lower
  15-Jul-24   13:34
  Nifty hits fresh record high; VIX rallied 3.07%; India's wholesale inflation rises to 3.6%
  15-Jul-24   12:34
  Sensex gains 200 pts; PSU banks in demand
  15-Jul-24   11:32
  Nifty near 24,550 mark, pharma shares advance
  15-Jul-24   10:33
  Indices edge higher; breadth positive
  15-Jul-24   09:30
  Indices turn rangebound; oil & gas stocks climb for 3rd day
  12-Jul-24   14:33
  Sensex spurts 742 pts, European mkt open higher
  12-Jul-24   13:38
  Nifty trades near 24,500 level; Private bank shares rally for 2nd day
  12-Jul-24   12:32
  Market hits new life high; IT shares in demand
  12-Jul-24   11:32
Back Top