Benchmark indices recovered from the early morning fall today with the Sensex rising 40 points to 60,095. Nifty gained 13 points to trade at 17,756. Earlier, Sensex fell 33 points or 0.05% to trade at 60,023, while the broader NSE Nifty slipped 9 points to 17,734.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The important question in the near-term is whether the current rally can sustain. The answer will depend largely on global cues since the market needs support from global markets, particularly from the mother market US. This week is hugely important for the US since many big tech US companies will be reporting results this week. US inflation and GDP data are expected this week and that will give an indication of the Fed decision on rates next week."
The stock of the firm slipped 13% to Rs 256.05, (a fresh 52-week low) against the previous close of Rs 294.35 on BSE. Market cap of the company fell to Rs 16,538 crore. The decline in the stock comes after Mathew Job resigned as CEO of the company. Promeet Ghosh has been appointed MD & CEO of Crompton Greaves Consumer Electricals. He will assume charge starting May 1, 2023, till April 30, 2028.
Shares of UPL fell up to 2.55% to Rs 711.23 in early trade. The stock was the top Nifty loser in early trade. Market cap of the agrochemicals and industrial chemicals maker fell to Rs 54,636 crore. The stock has been falling for the last two sessions.
Shares of Indo Count Industries hit an intraday high of Rs 146.50, up 11.87% against the previous close of Rs 130.95 on BSE. Earlier, the stock opened at Rs 131.25. Market cap of the firm rose to Rs 2816.33 crore.
The Adan Group stock rose 5% to Rs 1013.55 against the previous close of Rs 965.30 on BSE. The stock opened higher at Rs 969.90. Market cap of the firm rose to Rs 1.13 lakh crore.
Shares of Bajaj Finance gained 2.24% to Rs 6066 on BSE in early trade. Market cap of Bajaj Finance stood at Rs 3.66 lakh crore. The stock closed at Rs 5933.05 in the previous session and opened at Rs 5960 today. The stock was the top Sensex gainer today.
Shares of metal and mining major Vedanta Ltd gained after three days of fall today after the firm’s parent group Vedanta Resources Limited announced that it has paid all its maturing loans and bonds due in April 2023, thereby reducing its gross debt by a further $1 billion. Shares of the firm rose to Rs 278.20 against the previous close of Rs 275.25 crore. Market cap of the firm climbed to Rs 1.03 lakh crore.
Shares of Life Insurance Corporation of India (LIC) are in focus today after the insurance behemoth said it recorded a 17% rise in its total premium income in FY 2022-23. LIC stock was trading 0.31% higher at Rs 551 against the previous close of Rs 549.30 in early trade today. Market cap of the firm stood at Rs 3.48 lakh crore.
The shares of the Adani Group firm rose 5% to Rs 930.75 on BSE. Total 0.85 lakh shares of the firm changed hands on BSE. Market cap of the firm climbed to Rs 1.47 lakh crore.
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