Benchmark indices fell in early trade today with the Sensex losing 163 points to 59,966. Nifty lost 50 points to 17,719. In the previous session, Sensex added 74.61 points, or 0.12%, to close at 60,130.71 and Nifty gained 25.85 points, or 0.15%, to settle at 17,769.25.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The possible near-term trend is a range-bound movement, within which there can be sharp responses to Q4 results and management commentary. Data on US inflation and GDP expected this week will have an impact on global markets and on India, too. Results of US tech majors have been good. If the US disinflation trend indicates a steady decline, that can be positive trigger for equity markets globally."
Shares of Ipca Laboratories fell to a fresh 52-week low today after the firm announced acquisition of 33.4% stake in Unichem Laboratories Ltd for Rs 1,034 crore. The stock fell 5.87% to Rs 697.7 (a fresh 52-week low) against the previous close of Rs 741.20 on BSE. Market cap of the company fell to Rs 17,776 crore.
Shares of SpiceJet rose up to 8.23% to Rs 32.76 in early trade. The stock was the top BSE gainer in early trade. Market cap of the airline rose to Rs 1925 crore. The stock has gained after four days.
Shares of Pricol hit a 52-week high of Rs 238.65 against the previous close of Rs 235.55 on BSE. Earlier, the stock opened at Rs 234.10. Market cap of the firm rose to Rs 2,882 crore.
The stock hit a fresh 52-week high today rising to Rs 522.5 against the previous close of Rs 518.35 on BSE. The stock opened at Rs 517.95. Market cap of the firm rose to Rs 14,682 crore.
Shares of Tata Motors gained nearly 1% to Rs 477.55 on BSE in early trade after the firm said S&P Global Ratings have upgraded the credit ratings of Tata Motors and its Wholly Owned Subsidiaries (‘WOS’). Market cap of Tata Motors stood at Rs 1.58 lakh crore. The stock closed at Rs 473.30 in the previous session and opened at Rs 472.35 today.
Shares of Rallis India fell over 4% today after net loss widened to Rs 69 crore during the January-March period as against Rs 14 crore in the year-ago period. Revenue came in at Rs 522 crore. The stock fell 4.64% to Rs 190 against the previous close of Rs 199.25 crore. Market cap of the firm declined to Rs 3,770. 75 crore.
The airline is in talks with aircraft makers to buy up to 20 wide-body aircraft to expand its international operations. Shares of InterGlobe Aviation Ltd were trading 0.11% higher at Rs 1994 against the previous close of Rs 1992.30 in early trade today. Market cap of the firm stood at Rs 76,789 crore.
The shares of Hindalco were the top Nifty losers today, falling up to 1.58% to Rs 423 on BSE. Total 0.40 lakh shares of the firm changed hands on BSE. Market cap of the firm fell to Rs 95,112 crore.
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