Benchmarks indices traded higher in early deals on Friday, taking cues from the global markets. Gains were led by strong buying in consumer goods, technology, metal, state-owned lenders and energy stocks. Sensex climbed 227 points or 0.37% to trade at 62,099, while the broader NSE Nifty moved 59 points or 0.32% higher to trade at 18,380. Mid- and small-cap shares were positive as Nifty Midcap 100 gained 0.35% and the small-cap 100 was up 0.30%
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Two major factors - rupee appreciation and decline in US bond yields - that assisted the rally in Indian stock market in early May have reversed. Rupee has depreciated to 82.74 to the dollar and the U.S. 10-year yield has spiked to 3.82%. In spite of this negative development, FII inflows continue and impart resilience to the market. Both FIIs and DIIs are buyers now, and this is a strong support to the market.”
Shares of Hindustan Oil Exploration Ltd rose nearly 10% today after the energy major reported its earnings for the quarter ended March 2023. The firm reported a net profit of Rs 106.65 crore against Rs 27.21 crore loss in the corresponding quarter of the previous fiscal. Shares of Hindustan Oil Exploration gained 9.74% to Rs 195 against the previous close of Rs 177.70 on BSE. It opened 8.05% higher at Rs 192 on BSE
Shares of Adani Green Energy are in focus after Fitch Ratings affirmed rating of Adani Green Energy Limited Restricted Group's 1's (AGEL RG1) $500 million senior secured notes due in 2024 at BB+, with outlook stable. AGEL RG1 includes three subsidiaries of Adani Green Energy namely Adani Green Energy (UP) Limited, Parampujya Solar Energy Private Limited (PSEPL) and Prayatna Developer Private Limited
BHEL shares fell over 3% to Rs 79.05 today ahead of the firm's Q4 earnings. It is likely to report a mixed bag of numbers as analysts see growth in revenue but its profit and EBITDA may drop on the YoY basis despite a rise in EBITDA margins
Shares of Page Industries fell 15% to Rs 34,968 today after the firm reported a 59% fall in net profit to Rs 78 crore for the quarter ended March. It was Rs 190 crore in the same period last year. The stock was the top loser on BSE
Shares of Star Health fell 7.66% to Rs 539.2 on BSE amid heavy volumes and turnover. The stock saw 119.59 lakh shares changing hands within the first hour of Friday’s trading, amounting to a turnover of Rs 659.38 crore
MedPlus Health Services logged a two-fold surge in fourth-quarter profit, driven by strong sales in its key retail segment. Shares of MedPlus Health rose 12.45% to Rs 775.75 in early trade. It opened 6.55% higher at Rs 735.05 against the previous close of Rs 689.85. Market cap of the firm stood at Rs 9221.4 crore
Shares of RIL gained 2% to Rs 2,491.80 against the previous close of Rs 2,438.55 on BSE. Market cap of the firm rose at Rs 16.84 lakh crore. It was the top gainer on Sensex in early trade
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