Share Market update: Sensex, Nifty end flat; Tata Steel top loser

The Indian market opened higher today amid mixed global cues. Sensex rose 190 points to 54,516 and Nifty gained 61 points to 16,327. Earlier, SGX Nifty was trading 15 points lower at 16,243, indicating a flat start to the new trading week. On Friday, the 30-stock Sensex ended 1,534.16 points higher at 54,326.39. Nifty zoomed 456.75 points to 16,266.15.

All Sensex stocks ended in the green.

Dr. Reddy's Labs, Reliance Industries, Tata Steel, Nestle, Larsen & Toubro, Axis Bank, IndusInd Bank, Sun Pharma, State Bank of India, and HDFC were the top Sensex gainers, rising up to 8.10 per cent.

Here's a look at live updates of the market action today.

3:30 pm: Market ends in the red

Sensex falls 37 points to 54,288 and Nifty ends 51 points lower at 16,214.

3:20 pm:  Indices give up gains

Sensex falls 26 points to 54,299 and Nifty down 54 points to 16,212 in late trading session.

3:17 pm: Metal stocks crash

Metal stocks were the top losers on May 23 after the government raised export duty on steel products. On May 21, duty on iron ore was raised by up to 50 percent and some steel intermediaries to 15 percent to facilitate domestic availability. Tata Steel was the top Sensex loser, falling up to 14.28 per cent to Rs 1,003, a fresh 52-week low, on BSE. The stock opened with a loss of 5.14 percent at Rs 1,110 today.

12: 56 pm: Ashok Leyland shares rise over 7%  post Q4 earnings

Ashok Leyland stock rose 7.64 percent to Rs 140.25 after the firm announced its Q4 earnings. The firm reported a 273.8 per cent jump in its net profit at Rs 901 crore for the quarter ended March 31, 2022. It had reported a net profit of Rs 241 in the corresponding quarter of FY21. The firm's revenue grew by 25 per cent year on year.

It reported a revenue of Rs. 8744 crore in Q4 FY22 as against Rs 7,000 crore for the same period last year. EBITDA during the January-March quarter of FY22 was at 8.9 per cent as against 7.6 per cent last year.

12:48 pm: Equities, realty, gold, FDs: Here's how to invest Rs 1 crore in this market

The ongoing volatility in the equity market provides opportunities to churn portfolios and pick up some quality stocks. However, is it the right time to stay overweight on equity amid the uncertain environment in the form of rising interest rates, concern over inflation and sustained selling by foreign institutional investors?

Analysts at five brokerages suggested investors put 40 per cent-60 per cent of wealth in equities and the rest in other assets including fixed deposits and gold, among others. ALSO READ

12:44 pm: Tata Steel top Sensex loser, falls 12% in the afternoon session. ITC, PowerGrid and Reliance are the other losers , slipping  up to 1.89 percent.

12:05 pm : Latest update

Sensex rises 476 points to 54,802 and Nifty climbs 111 points to 16,377.

11:15 am:  Adani Power stock rises 5%

Shares of Adani Power were trading 5 percent higher at Rs 327.50  today. Adani Power stock hit a fresh 52 week high today. Earlier, the stock opened 2.9 percent higher at Rs 321 against the previous close of Rs 311.95 on BSE.

10:37 am : Latest Update

Sensex rises 235 points to 54,600 and Nifty climbs 55 points to 16,321.

10:14 am: Asian markets

Asian stocks came under pressure on Monday as persistent worries about inflation and rising interest rates dogged the global economic outlook and fresh selling in technology stocks weighed on Chinese markets.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat, after US stocks ended the previous session with negligible gains for the day. The index is down 3.6% so far this month.

A negative tone was evident as Hong Kong's Hang Seng Index slid 0.38% and the mainland's CSI300 Index dropped 0.37%, led by a 1.5% decline in technology firms. READ MORE

9:47 am: Paytm stock falls 4% post Q4 earnings

Shares of Paytm (listed as One97 Communications) fell 4 per cent today after the fintech major's parent One 97 Communications reported a widening of consolidated net loss for the quarter ended March 31, 2022. The large cap stock opened with a loss of 3.99 per cent at Rs 552.4 against the previous close of Rs 575.35 on BSE.

9:20 am: Top Sensex gainers

Maruti, M&M, NTPC, Titan, Asian Paints are top gainers rising up to 3.79 percent in early trade.

9:17 am:  Market opens higher

Sensex rises 190 points to 54,516 and Nifty gains 61 points to 16,327.

8:40 am: US market

The S&P 500 finished the day up 0.57 points at 3,901.36. The Dow Jones Industrial Average swung from an early loss of 617 points to close 8.77 higher, or less than 0.1%, at 31,261.90. The Nasdaq composite trimmed a big loss to finish 33.88 points lower, or 0.3%, at 11,354.62.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a flat to negative note today as SGX Nifty was trading 15 points lower at 16,243. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Friday

Sensex ended 1,534.16 points higher to end at 54,326.39. Nifty zoomed 456.75 points to 16,266.15. All Sensex stocks ended in the green.