NIFTY 50 holds 22,600, Nifty sheds 180 points from day’s high to end lower
Upstox
2 min read • Updated: April 30, 2024, 4:54 PM
Summary
Benchmark Indices – NIFTY 50 (-0.17%) and SENSEX (-0.25%) closed in red on Tuesday. In the latter part of the session, profit booking emerged as market participants were on tenterhooks ahead of the US Fed meeting.
On Tuesday, the 30-share BSE SENSEX closed lower by 0.25% to settle at 74,482.78. NSE NIFTY 50 witnessed a steep fall from day’s high to end down by 38.55 points or 0.17% to close at 22,604.85.
In the NIFTY50 space, 24 stocks advanced. Mahindra & Mahindra (+4.7%), Power Grid Corporation of India (+2.71), Shriram Finance (+1.97), Hero MotoCorp (+1.90) and Bajaj Auto (+2.04) were the major gainers. Laggards included Tech Mahindra (-2.08), Tata Steel(-1.46), Dr Reddy's Laboratories (-1.50), Sun Pharmaceuticals Industries (-1.29) and HCL Tech (-1.41).
The broader markets witnessed a mixed performance with Nifty Midcap 100 ending with marginal gains of 0.07%, while the Nifty Smallcap 100 slipped 0.04% on Tuesday.
Among the sectoral indices, top two performers were NIFTY Auto (+1.84%) and NIFTY Realty zoomed (+1.41%). On the other hand, the top two losers were Nifty IT (-1.13%) and Nifty Media (-1.02%).
In the Asian markets, Nikkei 225 climbed 1.24% and Hang Seng added 0.09%. The Shanghai Composite index declined 0.26%.
At 4:00 PM: Dow Jones Futures were seen trading flat to negative at 38,554. The US 10-year treasury yields were quoting at 4.634%, up by 0.02% ahead of the US Fed meeting.
REC Ltd.'s consolidated net profit rose by 23.21% in Q4FY24, beating street estimates. The company's profit stood at ₹3,308.42 crore in the quarter-ended March. The board also recommended a dividend of ₹5 per share. Shares of REC gained 9.51%, which was among the top gainers today.
Shares of Bharat Heavy Electricals hit a new 52-week high, soaring 1.59% today. The company announced that it has entered into a strategic partnership for the railway signalling business with HIMA Middle East FZE, Dubai.
Indian Oil Corporation ended the session in a red, down by 2.01%. The company today held a board meeting to approve the implementation of 1 GW installed capacity of Renewable Energy (RE) projects. The project is expected to be worth ₹5,215 crore.