Stock Market Today: Sensex, Nifty Snap Two Days Of Gains As HDFC Twins, Reliance Drag
Sensex closed down 413 points or 0.66% at 61,932.47 while Nifty was lower by 112 points or 0.61% at 18,286.50.
KEY HIGHLIGHTS
Yield On The 10-Year Bond Declines
The yield on the 10-year bond closed 5 bps lower at 6.96% on Tuesday, the lowest in over 13 months.
It closed at 7.01% on Monday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency appreciated by about 9 paise to close at 82.22 against the greenback on Tuesday.
The local currency closed at 82.30 on Monday.
Source: Bloomberg
Sensex, Nifty Snap Two Days Of Gains As HDFC Twins Drag
Indian equity benchmarks opened volatile and declined through the day as HDFC twins were trading ex-dividend on Tuesday. While Auto ammd media sectors fell the most, PSU banks and I.T. were the only sectors trading higher on NSE.
Global markets were mixed on Tuesday, with U.S. stock futures trading in a tight range ahead of debt-ceiling talks. Japan’s Topix closed at the highest since 1990.
In Europe, Vodafone Group Plc shares sank on weak earnings and Telecom Italia SpA fell after a report that Italy’s state lender will drop its offer for the carrier’s landline network. More broadly the region’s Stoxx Europe 600 index was little changed.
Chinese stocks fell in Shanghai and Shenzhen after official data showed industrial output, retail sales and fixed investment all missed estimates in April.
The S&P BSE Sensex Index closed down 413 points or 0.66% at 61,932.47 while the NSE Nifty 50 Index was lower by 112 points or 0.61% at 18,286.50.
Infosys Ltd., ICICI Bank Ltd., State Bank of India, Bajaj Finance Ltd., and Hindustan Unilever Ltd. were positively contributing to the change in the Nifty 50 Index.
Whereas, HDFC Ltd., HDFC Bank Ltd., Reliance Industries Ltd., Kotak Mahindra Bank Ltd., and Hindustan Unilever Ltd. were negatively adding to the change.
The broader markets outperformed the larger peers; the S&P BSE MidCap Index was up 0.18%, whereas S&P BSE SmallCap Index was higher by 0.12%.
Thirteen out of the 19 sectors compiled by BSE declined while, six sectors advanced in trade.
The market breadth was skewed in the favour of the buyers. About 1,844 stocks rose 1,681 declined, and 134 remained unchanged on the BSE.
Max Healthcare Q4 FY23 (Consolidated, YoY)
Revenue up 27% at Rs 1,551 crore Vs Rs 1,224 crore (BBG estimate : Rs 1,476 crore)
Net profit up 86% to Rs 320 crore Vs Rs 172 crore (BBG estimate : Rs 267 crore Profit)
EBITDA up 44% to Rs 437 crore from Rs 304 crore (BBG estimate : Rs 420 crore Profit)
Margins at 28.2% Vs 24.9% (BBG estimate : 28.5%)
Source: Exchange filing
Vesuvius India Shares Locked In 20% Upper Circuit As Q4 PAT, Sales Rise
Shares of Vesuvius India Ltd. were locked in 20% upper circuit after the company reported stellar results on Monday. The company's revenue rose by 18% year-on-year to Rs 368 crore in the fourth quarter. This compares with the revenue of the same period in the previous fiscal, which stands at Rs 348 crore, according to its exchange filing.
Vesuvius India Q4
Sales at Rs 368 crore vs 348 crore QoQ vs Rs 312 crore YoY (Up 5.6% QoQ, up 18% YoY)
EBIDTA at Rs 55 crore vs Rs 40 crore QoQ vs Rs 33 crore YoY (Up 39.2% QoQ, up 64.8% YoY)
EBIDTA margin at 15% vs 11.3% QoQ vs 10.7% YoY
PAT at Rs 43 crore vs Rs 28 crore QoQ vs Rs 24 crore YoY (Up 56.8% QoQ, up 83.4% YoY)
Source: Exchange filing