Share Market updates: Sensex falls 115 pts, Nifty ends below 17,500; RIL, Wipro, Dr Reddy's top losers

The benchmark indices ended lower in volatile trade today. Sensex fell 115 points to 58,568 and and Nifty lost 33 points to 17,464.

Earlier, equity market opened higher amid mixed global cues. Sensex opened 95 points higher at 58,779 and Nifty gained 21 points to 17,532.

Equity benchmark Sensex ended 740 points higher at 58,683 and Nifty rose 173 points to 17,498 in the previous session. Bajaj Finserv, Mahindra & Mahindra, Bajaj Finance, Power Grid, HDFC, ICICI Bank, Nestle, Maruti, Reliance Industries Limited were among the top Sensex gainers, rising up to 3.82%. ITC, Tata Steel, Tech Mahindra, Bharti Airtel and Titan were among the top losers, falling up to 2.16%. Of 30 Sensex stocks, 21 ended in the green.

BSE mid cap and small cap indices rose 185 points and 302 points, respectively.

What's next? Here are the latest updates!

3:30 pm: Sensex closes 115 points lower at 58,568 and Nifty falls 33 points to 17,464.

2:49 pm: Saregama India stock hits upper circuit

Shares of Saregama India were locked in the upper circuit of 5% today after its board approved demerger of the entire distribution division. Saregama India stock opened with a gain of 4.38%  at Rs 4800 today against the previous close of Rs 4598.55. Later, the stock rose to an intraday high of 5% to Rs 4,828.45 on BSE.  The large cap stock has gained 10.89% in the last 3 days.

2:18 pm: Sensex falls 137 points to 58,546 and Nifty loses 42 points to 17,456.

1:40 pm: GAIL India to buy back 5.7 crore shares for Rs 1,083 crore

GAIL (India) Ltd on Thursday said it will buy back about 5.7 crore shares for Rs 1,083 crore as it looks to use its healthy balance sheet to reward shareholders for the second time in as many years.

GAIL had in 2020-21 spent Rs 1,046.35 crore on a similar share buyback. The board of directors of GAIL approved the ''buyback of about 5.70 crore shares at the rate of Rs 190 per share aggregating to about Rs 1,083 crores (excluding taxes),'' said the company.

The buyback price of equity shares is at a 24 per cent premium over Wednesday's close price at NSE.

1:16 pm: Market check

Sensex gains 82 points to 58,766 and Nifty rises 25 points to 17,518.  

1: 00 pm: Market cap of BSE-listed firms stood at Rs 264.72 lakh crore in the afternoon session.

12:26 pm: IIFL Wealth stock rises 8%

Shares of IIFL Wealth Management zoomed nearly 8% in early trade today after global investment firm Bain Capital it has agreed to acquire a 24.98 per cent equity stake in the wealth and asset management firm. General Atlantic Singapore Fund Pte and FIH Mauritius Investments Ltd, a wholly owned subsidiary of Fairfax Holdings Corporation are the sellers in the transaction. IIFL Wealth Management stock touched an intraday high of Rs 1,796.6, gaining 7.81% on BSE.

11: 32 am: Market check

Sensex rose 33 points to 58,717 and Nifty gained 12 points to 17,510.

11: 04 am: Tejas Networks share hits upper circuit

Tejas Networks share hit the upper circuit of 5% in early trade today after the Tata Group firm said it would buy 64.40% stake in wireless solutions company Saankhya Labs for Rs 283.94 crore in an all cash deal.

Tejas Networks share zoomed 5% to Rs 424.90 against the previous close of Rs 404.70 on BSE. The stock has gained 11.46% in the last three days.

10:25 am: Axis Bank stock climbs 2%

Axis Bank shares rose nearly 2% today amid reports that the private sector lender acquired Citigroup's retail banking business in India.

Axis Bank stock touched an intraday high of Rs 763.90, gaining 1.82% on BSE. The large cap stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Total 2.47 lakh shares of the firm changed hands amounting to a turnover of Rs 18.68 crore on BSE.

Market cap of the bank rose to Rs 2.33 lakh crore on BSE today. Axis Bank stock has gained 9% in one year and risen 12.05% since the beginning of this year.

9: 48 am: Ruchi Soya  share falls after two sessions

Ruchi Soya share declines 2.58%  to Rs 952.15 against previous close of Rs 977.40 on BSE. The share has fallen after two days.

9:20 am: Market opening

The benchmark indices opened higher amid positive global cues. Equity benchmark Sensex opened 95 points higher at 58,779 and Nifty gained 21 points to 17,532.

9:03 am: Pre-market comment

Mohit Nigam, Head - PMS, Hem Securities said, "Benchmark Indices are expected to open on a positive note as suggested by trends on SGX Nifty. US stock markets ended negative on Wednesday on waning signs of progress for peace talks between Ukraine and Russia against a backdrop of a hawkish Federal Reserve curbing economic growth.

NASDAQ was down by 1.21% to 14442.28 levels. Asian markets are trading on  mix cues as oil prices fell sharply. Shanghai Composite trading 0.26% lower and Kospi is trading at 0.48% up. Oil futures dived more than $5 a barrel on Thursday morning on news that the Biden administration is weighing releasing some 1 million barrels of oil per day from strategic reserves for several months in a bid to calm soaring crude prices.

India Ratings has lowered its GDP growth forecast for FY23 to 7-7.2 percent, from 7.6 percent earlier citing the rising uncertainty over Russia-Ukraine war and the resultant dampening of consumer sentiment. On the technical front 17,300 and 17650 are immediate support and resistance in Nifty 50. For Bank Nifty, 35,800 and 37,000 are immediate support and resistance respectively."

8:30 am: Expert quote

Deepak Jasani, Head of Retail Research, HDFC Securities said, "Nifty has picked momentum over the past three days as hopes of an end to the war kept rising. However, Nifty closed with a high wave pattern sign, which post a fall below the low of the day could give bearish signal. A weak European market may trickle into the US markets and Nifty may come under mild pressure today. Nifty could stay in the 17,343-17,582 band in the near term."  

8:25 am: FII and DII action

Foreign institutional investors (FIIs) bought shares worth Rs 1,357.47 crore on March 30, and domestic institutional investors (DIIs) lapped up shares worth Rs 1,216 crore, as per provisional data available on NSE.

8:20 am: SGX Nifty

The Indian equity market is likely to open in the green today as SGX Nifty was trading 38 points higher at 17,535. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:10 am: Market on Wednesday

Equity benchmark Sensex ended 740 points higher at 58,683 and Nifty rose 173 points to 17,498. Bajaj Finserv, Mahindra & Mahindra, Bajaj Finance, Power Grid, HDFC, ICICI Bank, Nestle, Maruti, Reliance Industries Limited were among the top Sensex gainers, rising up to 3.82%. ITC, Tata Steel, Tech Mahindra, Bharti Airtel and Titan were among the top losers, falling up to 2.16%. Of 30 Sensex stocks, 21 ended in the green. BSE mid cap and small cap indices rose 185 points and 302 points, respectively.