Indices at previous closing
Nifty50: 15,808 ▼ 359 (-2.2%)
Sensex: 52,930 ▼ 1,158 (-2.1%)
Nifty Bank: 33,532 ▼ 1,161 (-3.3%)
For more updates on F&O, click here.
Happy Friday!
We hope you were able to catch some shut eye after the carnage in the markets. Nonetheless, the IPO party is in full swing. We’ve got two IPOs that close today, and more to come next week. Also, keep your fingers crossed, you might just end up with some allocation in the LIC IPO!
L&T on cloud 10 🏠
Larsen & Toubro reported a 10% year-on-year rise in Q4 net profit at ₹3,621 crore. Its revenue from operations also rose 10% to ₹52,851 crore. The company had bagged orders worth ₹73,941 crore during the quarter, a growth of 46%, with international orders contributing 44% of the total order inflow.
Inflation burns up 🔥
Consumer inflation rose to 7.7% in April, its highest level since May 2014. This was a steeper rise as compared to RBI's estimate of 6.3% for the first quarter of FY23. Fuel (10.8%) and food (8.3%) were the major contributors to the surging inflation.
ACs fly off the shelves ❄
Even watermelons couldn’t give respite from the heatwave. However, AC makers are in luck. Due to the early onset of summer, around 1.75 million units were sold this April. According to the Consumer Electronics and Appliances Manufacturers Association, the industry is set to witness 50-60% sales growth over the last year, and 25-30% over the pre-pandemic period.
Sectoral indices (May 11)
| Top gainers | Top losers |
| Realty
NA |
PSU Bank
▼ 4.2% |
| Bank
NA |
Nifty Metal
▼ 3.5% |
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 1.1% |
| Nikkei 225 (Japan) | ▲ 2.6% |
| Hang Seng (Hong Kong) | ▲ 1.8% |
| SSE Composite (China) | ▼ 1.7% |
| Dow Jones (US) (May 12) | ▼ 0.3% |
| NYSE (US) (May 12) | ▲ 0.1% |
| Nasdaq (US) (May 12) | ▲ 0.06% |
| S&P 500 (US) (May 12) | ▼ 0.1% |
Fact of the day
India’s factory output grew by 1.9% in March, marginally above 1.5% in February.
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Disclosures and Disclaimer
Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
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